Energy Fuels reported a net loss of $10.8 million ($0.04 per share) for the quarter ended March 31, 2026, a substantial improvement from the $26.3 million net loss ($0.13 per share) recorded in Q1 2025, driven by higher uranium concentrate revenues offset by rising operating costs.

The company sold 510,000 pounds of U3O8 at a weighted average realized price of $70.04 per pound, generating $35.7 million in uranium revenue, with 100,000 pounds sold on the spot market at $95.88 per pound and 410,000 pounds under long-term contracts at $63.74 per pound. Mining operations at Pinyon Plain, La Sal and Pandora produced 425,000 pounds of contained U3O8, with ore grades adjusting as crews transitioned between high-grade zones.

Energy Fuels generated $8.3 million in cash from operating activities in Q1 2026, a turnaround from the $18.8 million cash used in Q1 2025. As of March 31, 2026, the company held $956.6 million in working capital, including $108.4 million in cash and cash equivalents, $802.2 million in marketable securities and $69.0 million in inventory, underpinning ongoing operations and project development.

During the quarter, Energy Fuels produced terbium oxide at pilot scale and announced a planned acquisition of Australian Strategic Materials. The company will install heavy rare earth oxide processing infrastructure at its White Mesa Mill, while accelerating permitting and development at key uranium assets to capitalize on growing U.S. nuclear energy demand.