Perma-Fix Q1 Revenue Falls 20% to $11.1M, Signs $24M Livermore Deal
Perma-Fix posted Q1 revenue of $11.1M versus $13.9M a year ago and a gross loss of $2.9M, leading to a $7.5M net loss. It began Hanford ETF waste intake, secured a $24M Livermore demolition deal and tripled its permit capacity, expecting activity to ramp in Q2.
1. Q1 Financial Performance
Perma-Fix delivered revenue of $11.1 million in Q1 2026, a 20% decline from $13.9 million in Q1 2025, with Treatment Segment revenue at $7.9 million and Services revenue at $3.2 million. Gross loss widened to $2.9 million and net loss reached $7.5 million, reflecting seasonal delays and deliberate inventory processing ahead of Hanford activity.
2. Strategic Hanford and Nuclear Services Update
The Perma-Fix Northwest facility began receiving Hanford ETF waste and is preparing for additional Direct-Feed Low-Activity Waste streams, supported by a permit expansion that triples liquid mixed waste processing capacity. The Services Segment mobilized under a $24 million Lawrence Livermore demolition and disposal contract over two years, positioning the company for increased project activity.
3. PFAS Technology Expansion and Outlook
Perma-Fix installed its Gen 2.0 PFAS destruction unit and advanced commercial and government treatment work, boosting permanent PFAS destruction capacity. With personnel and facility investments complete, the company forecasts a step-up in waste receipts and operating performance from Q2 through 2026 as Hanford and PFAS opportunities scale.