Core Viewpoint - Perma-Fix Environmental Services, Inc. has announced a public offering of 2,200,000 shares of common stock at a price of $10.00 per share, expecting gross proceeds of approximately $22 million before expenses [1][2]. Group 1: Offering Details - The offering includes a 30-day option for the underwriter to purchase up to 330,000 additional shares at the public offering price [1]. - The expected closing date for the offering is around December 19, 2024, pending customary closing conditions [1]. Group 2: Use of Proceeds - The net proceeds from the offering will be allocated to: - Continued research and development for the patent-pending Perma-FAS process aimed at PFAS destruction and the installation of a second-generation commercial treatment unit [2]. - Ongoing capital expenditures and maintenance costs for facilities [2]. - General corporate and working capital purposes [2]. Group 3: Underwriters and Advisors - Craig-Hallum is serving as the sole managing underwriter for the offering, while Wellington Shields is acting as the financial advisor [3]. Group 4: Company Overview - Perma-Fix is a leading provider of nuclear and mixed waste management services, including management and treatment of radioactive waste for various federal agencies and the commercial nuclear industry [6]. - The company operates four nuclear waste treatment facilities and offers a range of services including project management, environmental restoration, and radiological protection [6].

Core Viewpoint - Perma-Fix Environmental Services, Inc. has initiated an underwritten public offering of its common stock, with the offering subject to market conditions and no assurance on completion or terms [1][4]. Group 1: Offering Details - The net proceeds from the offering will be allocated to continued R&D and business development for the patent-pending Perma-FAS process aimed at PFAS destruction, installation of a second-generation Perma-FAS commercial treatment unit, ongoing facility capital expenditures, maintenance costs, and general corporate purposes [2]. - Craig-Hallum is the sole managing underwriter for the proposed offering [3]. Group 2: Company Overview - Perma-Fix is a leading provider of nuclear and mixed waste management services, offering management and treatment of radioactive and mixed waste for various sectors including hospitals, research labs, federal agencies, and the commercial nuclear industry [6]. - The company operates four nuclear waste treatment facilities and provides a range of services including project management, environmental restoration, decontamination, and radiological protection [6].

Financial Data and Key Metrics Changes - The company reported revenue of $16.8 million for Q3 2024, a decrease of $5.1 million or 23.2% compared to $21.9 million in Q3 2023 [26][28] - Gross profit for the quarter was $1.3 million, down from $4.5 million in the same quarter last year [28] - The net loss from continuing operations was $8.8 million, compared to a net income of $246,000 in the previous year [30] - Total basic loss per share was approximately $0.57, compared to a basic income per share of $0.03 last year [31] Business Segment Data and Key Metrics Changes - In the Treatment segment, revenue decreased by $1.7 million due to lower volume and average price, impacted by reduced waste receipts and operational disruptions [27] - The Services segment revenue fell by $3.4 million, primarily due to the completion of two large projects replaced by smaller ones [26][28] - Gross profit in the Treatment segment dropped by $1.1 million, while the Services segment saw a decrease of $2.1 million [28] Market Data and Key Metrics Changes - The company anticipates receiving several larger waste streams from international sources, including Canada, Mexico, and Germany, expected to generate nearly $7 million in revenue [16] - The company is progressing with a €50 million contract in Italy, with remediation activities expected to start in late 2025 or early 2026 [17] Company Strategy and Development Direction - The company is focused on penetrating the PFAS market, with significant investments in PFAS technology deployment totaling $930,000 for the quarter and $1.6 million year-to-date [13] - The company aims to enhance operational capabilities through the acquisition of the Environmental Waste Operations Center, which will allow for higher productivity and larger waste volumes [15] - The company is pursuing new government and commercial opportunities, targeting several new procurements expected to bring in over $100 million in annual revenues by 2025 [23] Management's Comments on Operating Environment and Future Outlook - Management noted that while market softness has been experienced, trends are beginning to improve, and they are optimistic about revenue generation and productivity improvements [25] - The company is confident in its ability to handle increased capacity as the Hanford facility ramps up operations in 2025 [59] - Management expressed optimism regarding the new administration's focus on commercialization of waste treatment, which aligns with the company's offerings [68] Other Important Information - The company has a treatment backlog of $7.8 million as of September 30, 2024, down from $8.7 million at the end of December 2023 [33] - The company is positioned to receive DFLAW affluent based on anticipated volumes, with expansion programs being designed to support full-scale operations [22] Q&A Session Summary Question: Can you discuss the transformative opportunities for 2025 and 2026? - Management projected revenues from PFAS in 2025 to be in the $3 million to $5 million range, assuming operational optimization and additional units [36] Question: How is the company preparing for the near-term challenges in Q4 and 2025? - Management indicated that Q4 is showing improvement in waste receipts and operational stability, with a good backlog at all plants [53] Question: What is the status of the partnerships related to PFAS treatment? - Management is exploring partnerships with firms that have developed concentrators for PFAS, aiming to treat high concentration PFAS waste [75] Question: What are the prospects for the Hanford facility and grouting opportunities? - Management noted that the DFLAW facility is designed to treat about 1 million gallons a year, and there are plans for a grouting program for the West area tank farms [90] Question: What is the reasoning behind the write-off of the deferred tax asset? - Management did not provide a detailed response to this question during the call [93]

ATLANTA, Nov. 11, 2024 (GLOBE NEWSWIRE) -- Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) (the “Company”) today announced it will host a conference call at 11:00 AM Eastern Time on Wednesday, November 13, 2024. A webcast of the call may be accessed at https://www.webcaster4.com/Webcast/Page/2243/51652 or in the investor section of the Company’s website at https://ir.perma-fix.com/conference-calls. The conference call will be available via telephone by dialing toll free 888-506-0062 for U.S. callers o ...

I first wrote about Perma-Fix (NASDAQ: PESI ), a waste treatment and disposal company, for Seeking Alpha in November 2021, nearly three years ago. Even then, PESI investors were awaiting the lucrative Hanford SiteI try to be ahead of the curve, looking for opportunities where the market has not yet figured out or appreciated a company's fundamental business or upcoming catalysts. I have an accounting degree from Creighton University and a Masters in Philanthropy and Nonprofit Development from the University ...

ATLANTA, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) (the "Company") today announced it will host a conference call at 11:00 AM Eastern Time on Thursday, August 8, 2024. A webcast of the call may be accessed at https://www.webcaster4.com/Webcast/Page/2243/51027 or in the investor section of the Company's website at https://ir.perma-fix.com/conference-calls. The conference call will be available via telephone by dialing toll free 888-506-0062 for U.S. callers or +1 ...

ATLANTA, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) (the "Company") today announced it will host a conference call at 11:00 AM Eastern Time on Thursday, August 8, 2024. A webcast of the call may be accessed at https://www.webcaster4.com/Webcast/Page/2243/51027 or in the investor section of the Company's website at https://ir.perma-fix.com/conference-calls. The conference call will be available via telephone by dialing toll free 888-506-0062 for U.S. callers or +1 ...

ATLANTA, July 30, 2024 (GLOBE NEWSWIRE) -- Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) (the "Company") announces it has acquired the Environmental Waste Operations Center (EWOC) near Oak Ridge, Tennessee. The EWOC facility has been leased by the Company for several years and this purchase solidifies Perma-Fix's plans to invest in facility upgrades to capitalize on regional opportunities, including large-scale decontamination projects, waste processing, trans-loading from truck to rail, and the fut ...

ATLANTA, July 30, 2024 (GLOBE NEWSWIRE) -- Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) (the "Company") announces it has acquired the Environmental Waste Operations Center (EWOC) near Oak Ridge, Tennessee. The EWOC facility has been leased by the Company for several years and this purchase solidifies Perma-Fix's plans to invest in facility upgrades to capitalize on regional opportunities, including large-scale decontamination projects, waste processing, trans-loading from truck to rail, and the fut ...

ATLANTA, July 01, 2024 (GLOBE NEWSWIRE) -- Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) (the "Company") announces it has been added as a member of the Russell 3000 Index, effective after the US market opens today, July 1, as part of the 2024 Russell indexes reconstitution. The annual reconstitution of the Russell US indexes captures the 4,000 largest US stocks as of April 30, ranking them by total market capitalization. Membership in the Russell 3000® Index, which remains in place for one year, mea ...