Energy Fuels Posts $52.206 Million Loss on $29.18 Million in Third-Quarter Revenue
Key Facts
Energy Fuels reported on November 4, 2026, results for the quarter ended September 30, posting a net loss attributable to the company of $52.206 million, or $0.20 per share, compared with a loss of $16.736 million, or $0.07 per share, in the same quarter of 2025. Revenue was $29.18 million, up from $17.71 million a year earlier, but the analyst estimate cited in Investing.com data was $37.66 million. The data also showed a loss per share of $0.20, against an estimate of $0.020. The company said unrealized, non-cash losses from securities revaluation were the main factor behind the loss, partly offset by cash interest income. The results thus combined revenue growth with a widening net loss, while uranium operations remained profitable, according to the company statement.
The company sold 320 thousand pounds of uranium oxide-3 during the quarter, at a weighted average realized selling price of $88.90 per pound, generating uranium revenue of $28.4 million out of total revenue. It said the uranium segment was profitable for the third consecutive quarter, and that the average realized price rose 10% from the second quarter and 27% from the first quarter of 2026. Sales comprised 50 thousand pounds to the spot market, generating $4.5 million in revenue, and 270 thousand pounds under long-term contracts, generating $24 million. Year over year, long-term contract sales rose from 140 thousand pounds in the third quarter of 2025, while spot sales fell from 100 thousand pounds. The divergence shows that the increase in total volumes sold came from long-term contracts, while volumes directed to the spot market declined.
Unrealized, non-cash losses from revaluation of marketable securities totaled $35.3 million, the company said, partly offset by $9.4 million in cash interest income from the portfolio. In its quarterly report, the company recorded net other losses of $27.98 million in the three months ended September 30, 2026, compared with net other income of $8.27 million in the corresponding period of 2025. The disclosures attributed the change to revaluation losses and other costs, partly offset by higher interest income. At the end of September, working capital stood at $932.3 million, including $76.4 million in cash and cash equivalents and $779.5 million in marketable securities. These figures put the accounting loss in the context of the company’s portfolio and liquidity, with interest income remaining a cash source that offset part of the revaluation impact.
On production, Energy Fuels extracted 385 thousand pounds of contained uranium from its mines in the third quarter, bringing year-to-date production to 1.1 million pounds. The company said processing of the next conventional ore batch at the mill is scheduled to begin in the fourth quarter of 2026 and continue through the second quarter of 2027. The report linked the schedule to market conditions, contracts and mill timing. The company also said its Whirlwind and Nichols Ranch projects could add up to approximately 600 thousand pounds of uranium oxide-3 annually, no earlier than 2027. Separately, it expects to complete the pending acquisition of VAC in early 2027, subject to the necessary approvals and conditions.
The company’s shares closed at $7.18 on November 4, the day results were published, according to Investing.com data. They then closed at $6.66 on November 6, according to EL7 data. The two prices reflect the closes of different sessions, and the figures cited here do not include documented details on the stock’s movement during the November 6 session. The company’s announced upcoming operational milestones remain the start of processing the ore batch in the fourth quarter of 2026 and its scheduled continuation through the second quarter of 2027. It also set early 2027 as the expected timing for completing the VAC deal, subject to the necessary approvals and conditions.