Revenue and Profitability - Revenue for Q3 2025 increased by $642,000 or 3.8% to $17,454,000 compared to Q3 2024, driven by a 44.7% increase in the Treatment Segment revenue [101]. - Gross profit for the nine months ended September 30, 2025, was $4,761,000, reflecting an increase of $5,353,000 or 904.2% compared to a gross loss of $592,000 in the same period of 2024 [102]. - Consolidated revenues increased by $642,000 or 3.8% for the three months ended September 30, 2025, compared to the same period in 2024, totaling $17,454,000 [110]. - Gross profit for the quarter ended September 30, 2025, increased by $1,223,000, totaling $2,557,000, with Treatment Segment gross profit increasing by $1,856,000 or 452.7% [116]. - For the nine months ended September 30, 2025, consolidated revenues increased by $1,544,000 or 3.5%, totaling $45,959,000 [112]. Segment Performance - Treatment Segment backlog reached approximately $15,396,000 as of September 30, 2025, an increase of $7,537,000 or 95.9% from December 31, 2024 [105]. - The Treatment Segment revenue for Q3 2025 was $13,114,000, up $4,050,000 or approximately 44.7% from Q3 2024 [101]. - Services Segment revenue decreased by $3,408,000 or 44.0% to $4,340,000 for Q3 2025, attributed to delays in project mobilizations and awards [101]. - International initiatives contributed approximately $798,000 or 310.5% increase in revenue from international customers in the Treatment Segment [111]. - Services Segment gross profit decreased by $633,000 or approximately 68.5%, with gross margin declining to 6.7% from 11.9% [116]. Expenses and Costs - SG&A expenses increased by $1,597,000 or 15.0% for the nine months ended September 30, 2025, compared to the same period in 2024 [102]. - SG&A expenses increased by $451,000 for the three months ended September 30, 2025, totaling $4,083,000, primarily due to higher salaries and payroll-related expenses [118]. - Cost of goods sold decreased by $581,000 for the quarter ended September 30, 2025, totaling $14,897,000, with Treatment Segment costs increasing by approximately $2,194,000 or 25.4% [114]. - SG&A expenses increased by $1,597,000 to $12,228,000 for the nine months ended September 30, 2025, representing 26.6% of revenue compared to 23.9% in 2024 [119]. Cash Flow and Liquidity - Cash used in operating activities of continuing operations was $(8,312,000) for the nine months ended September 30, 2025, compared to $(10,971,000) in 2024 [127]. - The company had working capital of $18,393,000 as of September 30, 2025, down from $28,283,000 as of December 31, 2024 [131]. - Cash used in investing activities of continuing operations totaled approximately $(2,683,000) for the nine months ended September 30, 2025 [127]. - As of September 30, 2025, the company had liquidity of approximately $23,844,000 and no outstanding borrowing under its Revolving Credit [125]. Future Outlook and Risks - The company expects revenue from the West Valley Development Project to ramp up in 2026 as the scope is further defined and approved [105]. - The federal government shutdown may impact operations, but the company believes its backlog and increased international receipts may mitigate the effects [106]. - The company is subject to significant uncertainties due to macroeconomic conditions, including government budget issues and trade uncertainties, which may impact revenue and profitability [151]. - The company is currently facing potential delays in waste shipments due to a partial government shutdown, which may impact operations and liquidity [150]. Research and Development - Research and development expenditures for the nine months ended September 30, 2025, were $1,037,000, up from $872,000 in the same period of 2024 [102]. - The company has filed patent applications for its PFAS destruction technology, which is expected to complement its core waste remediation services [152]. - The second-generation Perma-FAS system is anticipated to triple production capacity and is expected to be deployed in Q1 2026 [153]. Environmental and Regulatory - The company has accrued environmental remediation liabilities of $764,000 as of September 30, 2025, a decrease of $3,000 from the previous balance [156]. - Approximately $11,666,000 or 66.8% of total revenues for the three months ended September 30, 2025, were generated from federal government contracts, compared to $11,749,000 or 69.9% for the same period in 2024 [149]. - The Facility Fee has been revised from 0.375% to 0.500%, reverting back to 0.375% once the FCCR requirement is met [143]. Labor and Compensation - The Collective Bargaining Agreement (CBA) provides for annual base hourly wage increases of 1% plus the annual percentage change in the Consumer Price Index for Covered Employees [147]. - Administrative SG&A expenses rose primarily due to higher salaries and payroll-related expenses totaling approximately $352,000, influenced by the hiring of a COO and cost-of-living adjustments [120]. Interest and Tax - Interest income decreased by approximately $26,000 for Q3 2025 but increased by approximately $222,000 for the nine months ended September 30, 2025, compared to the same period in 2024 [121]. - Income tax expenses were $0 for Q3 2025 and $4,300,000 for the nine months ended September 30, 2024, resulting in effective tax rates of 0% and 36.6%, respectively [123].

Financial Data and Key Metrics Changes - Revenue for Q3 2025 was reported at $16.5 million, a slight decrease from $16.8 million in the same period last year, while gross profit more than doubled to $2.6 million from $1.3 million a year ago [5] - Gross margin expanded to 14.6% from 7.9%, driven by higher waste volumes and a favorable mix within treatment operations, despite increased fixed costs [5] - EBITDA showed meaningful improvement compared to the prior quarter, reflecting stronger throughput and execution discipline [5] Business Line Data and Key Metrics Changes - The treatment segment revenue increased by 45% year over year to $13.1 million, up from $9.1 million in Q3 2024, with gross margin improving to 17.3% from 4.5% [6] - Waste sales totaled $14.6 million, a 74% increase from $8.4 million in the same period last year [6] - Treatment backlog ended the quarter at $15.4 million, up from $7.9 million a year ago, indicating strong visibility into future revenue [6] Market Data and Key Metrics Changes - International waste shipments are on schedule and expected to continue into the first half of 2026, contributing to backlog stability and revenue diversity [7] - The Department of Energy's Direct Feed Low-Activity Waste facility initiated hot commissioning, marking a significant milestone in environmental cleanup efforts [7][8] Company Strategy and Development Direction - The company is positioned as a critical commercial link in the DOE's waste treatment chain, which is expected to provide long-term recurring revenue as the DOE's cleanup mission advances [8] - The PFAS destruction initiative is advancing technically and commercially, with the first-generation Perma-Fast system achieving complete destruction of PFAS compounds at a cost advantage to incineration [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's operational progress and margin expansion, highlighting the importance of automation and digital scheduling in improving productivity [6] - The company is prepared to meet DOE throughput requirements while maintaining excellent safety performance, indicating a strong operational foundation for future growth [8] Other Important Information - The company completed a union transition that improved labor stability and increased hiring efficiency, allowing for multi-shift operations [8] Q&A Session Summary - No specific questions or answers were provided in the available content, indicating that the Q&A session details are not included in the provided excerpts.

Core Insights - The company reported a 45% year-over-year revenue increase, with gross margin in the Treatment Segment improving to 17.3% from 4.5% in the prior year, driven by higher waste volumes and growing international shipments [2][6] - The Treatment Segment revenue rose to approximately $13.1 million for Q3 2025, up from $9.1 million in Q3 2024, while the Services Segment revenue decreased to approximately $4.4 million from $7.7 million in the same period [6][7] - The company is well-positioned to support the Department of Energy's Direct-Feed Low-Activity Waste facility, anticipating initial waste receipts later in Q4 2025 or early 2026 [3] - The company’s PFAS destruction technology is gaining traction, with a growing backlog for services and a second-generation unit expected to be commissioned in Q1 2026 [5][15] Financial Performance - Revenue for Q3 2025 was $17.5 million compared to $16.8 million in Q3 2024, with gross profit increasing to $2.6 million from $1.3 million [6][7] - The operating loss for Q3 2025 was approximately $1.9 million, an improvement from a loss of $2.6 million in Q3 2024, with a net loss of approximately $1.8 million or ($0.10) per share compared to a net loss of $9.0 million or ($0.57) per share in the prior year [8][21] - EBITDA from continuing operations was ($1.5) million for Q3 2025, compared to ($2.1) million for the same period in 2024 [9] Market and Operational Context - The company is actively pursuing federal projects despite a recent government shutdown that has temporarily delayed certain procurements [4][14] - The Treatment Segment backlog at the end of Q3 2025 was approximately $15.4 million, an increase of $7.5 million from the end of 2024 [15] - The company operates four nuclear waste treatment facilities and provides services to various federal agencies, including the DOE and DOW [17]

Environmental waste treatment and services provider Perma-Fix (NASDAQ:PESI) will be announcing earnings results this Monday morning. Here’s what you need to know. Perma-Fix missed analysts’ revenue expectations by 11.1% last quarter, reporting revenues of $14.59 million, up 4.3% year on year. It was a softer quarter for the company, with a significant miss of analysts’ revenue estimates and a miss of analysts’ EBITDA estimates. Is Perma-Fix a buy or sell going into earnings? Read our full analysis here, ...

Core Points - Perma-Fix Environmental Services, Inc. will host a conference call on November 10, 2025, at 10:00 AM Eastern Time [1] - The call will be led by key executives including the CEO and CFO [2] - A webcast of the call will be available on the company's website and a telephone replay will be accessible until November 17, 2025 [3] Company Overview - Perma-Fix Environmental Services, Inc. specializes in nuclear services and is a leading provider of nuclear and mixed waste management services [4] - The company manages and treats radioactive and mixed waste for various clients, including hospitals, research labs, federal agencies, and the commercial nuclear industry [4] - Perma-Fix operates four nuclear waste treatment facilities and offers a range of services including project management, environmental restoration, and radiological protection [4]

Core Points - Perma-Fix Environmental Services, Inc. announced that its founder, Dr. Louis Centofanti, received the Industry Innovation Award at the 2025 EI Digest Gathering for his contributions to nuclear and hazardous waste treatment [1][2] Company Overview - Perma-Fix Environmental Services, Inc. is a leading provider of nuclear and mixed waste management services, including the management and treatment of radioactive and mixed waste for various clients such as hospitals, research labs, federal agencies, and the commercial nuclear industry [8] - The company operates four nuclear waste treatment facilities and offers services in project management, environmental restoration, decontamination, and radiological protection [8] Innovations and Contributions - Dr. Centofanti co-founded PPM, Inc. and developed a pioneering process for destroying polychlorinated biphenyls (PCBs) in oil, which became the industry standard [3] - He founded Perma-Fix in 1991 with innovative concepts for recycling waste into fuel and developing EPA-approved treatment technology for hazardous waste [4] - Recently, he led the development of Perma-FAS™, a technology that chemically destroys PFAS contaminants at low temperatures, providing a scalable solution to environmental challenges [5] - Throughout his career, Dr. Centofanti has authored over 50 patents and publications, significantly advancing technologies that improve environmental outcomes and reduce costs [6] Industry Impact - Dr. Centofanti's work has set regulatory precedents and defined best practices in the hazardous and nuclear waste management industries, transforming the sector [6][7] - The recognition of his contributions highlights the importance of innovation in addressing complex environmental challenges [7]

Core Viewpoint - The investment thesis for PermaFix (NASDAQ: PESI) is based on the expectation that their core business will stabilize post-Covid, with potential significant upside from contracts related to the Hanford Nuclear Site [1] Company Analysis - PermaFix's core business is anticipated to recover and stabilize following the impacts of the Covid pandemic [1] - The company is positioned to benefit from potential contracts associated with the Hanford Nuclear Site, which could provide substantial growth opportunities [1] Investment Strategy - The analysis focuses on identifying opportunities where the market has not yet recognized or valued a company's fundamental business and upcoming catalysts [1] - The approach involves fundamental analysis to find discrepancies between a company's perceived value and its current share price [1]

Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 58-1954497 (IRS Employer Identification Number) 8302 Dunwoody Place, Suite 250, Atlanta, GA Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________to_________________ Commission File No. 001-11596 PERMA-FIX ...

Financial Data and Key Metrics Changes - The total revenue from continuing operations for Q2 2025 was $14.6 million, an increase of $600,000 or 4.3% compared to Q2 2024 [13] - Revenue in the Treatment Segment increased by $3.1 million or 36.6% year-over-year, driven by increased waste volumes and average prices [13] - Gross profit improved to $1.5 million from a loss of $1.3 million in the previous year, reflecting a positive impact from revenue increases and lower variable costs [14] - The net loss for the quarter was $2.7 million, an improvement from a net loss of $4.0 million in the prior year [17] - EBITDA from continuing operations was a negative $2.3 million, compared to negative EBITDA of $4.6 million last year [17] Business Line Data and Key Metrics Changes - The Treatment Segment saw a revenue increase of approximately 37% year-over-year, with waste receipts more than doubling to approximately $14 million [6][13] - The Services Segment experienced a revenue decrease of $2.5 million due to project delays and completion of large projects in the prior year [14] - The waste backlog at the end of June was approximately $13.2 million, up from $7.9 million at the end of the previous year [18] Market Data and Key Metrics Changes - Internationally, the company received over $7 million in waste receipts over the past two quarters, with strong interest from customers in Canada, Germany, Mexico, and Italy [10] - The company has a EUR50 million contract with the European Union in Italy, progressing through the permitting phase, with treatment operations expected to start in 2026 [10] Company Strategy and Development Direction - The company is focused on expanding treatment and PFAS backlogs, driving performance improvements, and converting large services and federal bid opportunities [48] - The operational investments made earlier in the year, combined with progress in the PFAS program and DOE segments, position the company for strong results in the coming quarters [48] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to deliver stronger financial performance in the second half of the year, supported by progress achieved [49] - The company remains optimistic about the long-term outlook for the DF Law facility, which is expected to provide substantial recurring revenue once operational [7][12] Other Important Information - The Department of Energy announced a delay in the DF Law facility startup from August 1 to as late as October 15, but management remains confident in the timeline [7][24] - The company is pursuing several large-scale federal and commercial procurement opportunities, representing over $200 million in potential contract value [11] Q&A Session Summary Question: Challenges and improvements in the treatment segment - Management discussed technical challenges that limited production capacity early in the quarter but noted that these issues have been resolved through automation and process improvements [20] Question: Timeline for DF Law facility startup - Management indicated confidence that the facility would enter operational phase before the end of the calendar year, following a hot commissioning period [24] Question: Expectations for the services segment and West Valley project - Management acknowledged delays in the services segment due to federal procurement timing but expects improvement in the upcoming quarters [30] Question: Revenue expectations from DF Law ramp-up - Management estimated potential revenue of $2 million to $3 million per month once operations begin, with a ramp-up to 70-80% capacity over the next 18 months [38] Question: Details on the Navy contract - Management provided insights into the $240 million RadMAC III IDIQ contract, emphasizing the competitive nature of task orders and the company's core competencies in radiological remediation [43]

Core Insights - The company reported sequential and year-over-year revenue growth for Q2 2025, with Treatment Segment revenue increasing by approximately 37% compared to the same period last year [2][6] - Waste receipts more than doubled in Q2 2025, reaching approximately 14 million, which is expected to contribute to a strong backlog for the remainder of 2025 [3] - The company is optimistic about its long-term growth strategy, particularly in scaling its PFAS destruction platform and has begun construction of a next-generation system [5][6] Financial Performance - Revenue for Q2 2025 was approximately $14.6 million, up from approximately $14.0 million in Q2 2024, driven entirely by the Treatment Segment, which saw revenue rise to $11.4 million from $8.4 million [6][19] - The Services Segment revenue decreased to $3.2 million from $5.6 million, attributed to project delays and procurement issues [6][19] - Gross profit for Q2 2025 was $1.5 million, compared to a gross loss of $1.3 million in Q2 2024, with gross margin improving to 13.7% from (14.3%) in the Treatment Segment [7][19] Operational Highlights - The company faced technical challenges that limited production early in Q2 2025 but believes these issues have been resolved through automation and process enhancements [2] - The Services Segment is seeing renewed momentum, highlighted by being awarded a position on the Navy's RADMAC III IDIQ contract, which aligns with the company's core competencies [4] - The company continues to focus on cost discipline and margin improvement, positioning itself for better results in the second half of 2025 [6]