Selects ProcessBarron for fabrication and assembly of the new commercial unit Commercial unit on track to begin accepting waste in the second half of 2024 ATLANTA, June 12, 2024 (GLOBE NEWSWIRE) -- Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) (the "Company") today provided an update on its patent-pending new process, Perma-FAS®, for the destruction of per- and polyfluoroalkyl substances (PFAS), including design specifications and the Company's selection of ProcessBarron for the fabrication and assem ...

ATLANTA, May 22, 2024 (GLOBE NEWSWIRE) -- Perma-Fix Environmental Services, Inc. (Nasdaq: PESI) ("Perma-Fix" or the "Company") today announced that it has entered into a definitive agreement for the issuance and sale of 2,051,282 shares of its common stock at an offering price of $9.75 per share. The gross proceeds from the offering, before deducting the placement agent's fees and other offering expenses, are expected to be approximately $20 million. Perma-Fix expects to use the net proceeds from the offeri ...

ATLANTA, May 22, 2024 (GLOBE NEWSWIRE) -- Perma-Fix Environmental Services, Inc. (Nasdaq: PESI) ("Perma-Fix" or the "Company") today announced that it has entered into a definitive agreement for the issuance and sale of 2,051,282 shares of its common stock at an offering price of $9.75 per share. The gross proceeds from the offering, before deducting the placement agent's fees and other offering expenses, are expected to be approximately $20 million. Perma-Fix expects to use the net proceeds from the offeri ...

Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) Q1 2024 Results Conference Call May 9, 2024 11:00 AM ET Company Participants David Waldman - Investor Relations Mark Duff - President and CEO Louis Centofanti - EVP of Strategic Initiatives Ben Naccarato - CFO Conference Call Participants Howard Brous - Wellington Shields Ross Taylor - ARS Investment Aaron Warwick - Breakout Investors Operator Good day. And welcome to the Perma-Fix Fiscal First Quarter 2024 Earnings Conference Call [Operator Instructions] ...

Revenue Performance - Revenue for Q1 2024 decreased by approximately $6,490,000 or 32.3% to $13,617,000 compared to $20,107,000 in Q1 2023[105] - Services Segment revenue fell by $5,605,000 or 53.3% to $4,908,000 from $10,513,000, while Treatment Segment revenue decreased by $885,000 or 9.2% to $8,709,000 from $9,594,000[105][112] - Revenue from government clients in the Treatment Segment decreased primarily due to lower waste volumes and delays in waste shipments attributed to poor weather and federal budget issues[112] - Revenue from government clients represented approximately $10,143,000 or 74.5% of total revenue for the three months ended March 31, 2024, compared to $17,247,000 or 85.8% in the same period of 2023[138] Financial Losses - Gross loss for Q1 2024 was approximately $620,000, a decrease of $3,629,000 or 120.6% compared to a gross profit of $3,009,000 in Q1 2023[105] - The company incurred a loss from continuing operations of $3,458,000 in Q1 2024, compared to a loss of $318,000 in Q1 2023[110] Expenses and Costs - SG&A expenses increased by $58,000 or 1.7% for Q1 2024 compared to Q1 2023, reflecting ongoing operational costs[105] - Cost of goods sold decreased by $2,861,000 or 16.7% for the quarter ended March 31, 2024, compared to the same quarter in 2023, with total revenue of $14,237,000 in 2024 versus $17,098,000 in 2023[113] - Gross profit decreased by $3,629,000 for the quarter ended March 31, 2024, resulting in a gross margin of (0.6)% compared to 13.0% in 2023, primarily due to lower revenue and the completion of high-margin projects[114] - SG&A expenses increased by $58,000 to $3,544,000 for the three months ended March 31, 2024, driven by higher administrative and Treatment Segment expenses[115] - R&D expenses rose by approximately $197,000 in Q1 2024, mainly due to costs associated with PFAS technology development[116] Cash Flow and Working Capital - Cash used in operating activities totaled $4,432,000 for continuing operations in Q1 2024, with cash on hand of approximately $2,374,000[122] - Working capital decreased to $255,000 as of March 31, 2024, from $4,613,000 at the end of 2023, primarily due to reduced cash and revenue declines[125] Investments and Future Expectations - Accelerated investments in R&D for new PFAS treatment technology impacted financial performance, with expectations for positive effects beginning in the second half of 2024[102][104] - The company expects to generate increased revenue under a multi-year contract valued at approximately EUR 50 million starting in 2026, related to radioactive waste treatment in Italy[104] - The company is positioned for large procurements from the U.S. Department of Energy and U.S. Navy, with plans for broader waste treatment capabilities[104] - The company expects to install additional units for PFAS treatment at each existing treatment plant in 2025 following the first operational unit[140] Regulatory and Environmental Liabilities - The company is subject to rigorous federal, state, and local regulations, which may result in fines or remediation costs[141] - Total accrued environmental remediation liabilities as of March 31, 2024, were $800,000, a decrease of approximately $45,000 from the previous balance[144] - As of March 31, 2024, $16,000 of the total accrued environmental liabilities was recorded as current[144] Debt and Interest - Interest income increased by approximately $47,000 in Q1 2024, attributed to higher interest from a sinking fund and a money market account[118] - Interest expense increased by approximately $63,000 in Q1 2024, primarily due to interest on a $2,500,000 term loan[119] - The company is required to maintain a daily minimum borrowing availability of $2,250,000 under the revolving credit through June 29, 2024, increasing to $3,000,000 starting June 30, 2024[136] Backlog and Receivables - Waste treatment backlog increased to approximately $10,580,000 as of March 31, 2024, up by approximately $1,878,000 from $8,702,000 on December 31, 2023[103] - As of March 31, 2024, PF Canada had approximately $1,612,000 in outstanding receivables due from CNL, expected to be settled by the end of 2024[139] Operational Impact - The company performed services related to waste generated by government clients, which could have a material adverse impact on operations if contracts are terminated or funding is reduced[138] - The company has successfully completed pilot plant testing on a new process for the destruction of PFAS, with plans to be operational by the end of 2024[140]

Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) Q4 2023 Earnings Conference Call March 13, 2024 11:00 AM ET Company Participants David Waldman - IR, Crescendo Communications Mark Duff - CEO Ben Naccarato - EVP & CFO Louis Centofanti - EVP, Strategic Initiatives Conference Call Participants Howard Brous - Wellington Shields & Co. Walter Schenker - MAZ Capital Advisors Brian Russo - Sidoti & Company Ross Taylor - ARS Investment Partners Operator Greetings. Welcome to the Perma-Fix Q4 and Fiscal 2023 Year ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 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. 1-11596 PERMA-FIX ENVIRONMENTAL SERVICES, INC. (Exact name of registrant as specified in its charter) Delaware 58-1954497 State or other ...

Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) Q3 2023 Earnings Conference Call November 2, 2023 11:00 AM ET Company Participants David Waldman - Investor Relations Mark Duff - President & Chief Executive Officer Ben Naccarato - Executive Vice President & Chief Financial Officer Dr. Louis Centofanti - Executive Vice President of Strategic Initiatives Conference Call Participants Howard Brous - Wellington Shields & Co. Brian Russo - Sidoti & Company Ross Taylor - ARS Investment Partners Operator Good d ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 (State or other jurisdiction of incorporation or organization) 58-1954497 (IRS Employer Identification Number) 8302 Dunwoody Place, Suite 250, Atlanta, GA (Address of principal executive of ices) ...

Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) Q2 2023 Earnings Conference Call August 3, 2023 11:00 AM ET Company Participants David Waldman - Investor Relations Mark Duff - President & Chief Executive Officer Ben Naccarato - Executive Vice President & Chief Financial Officer Conference Call Participants Brian Russo - Sidoti Ross Taylor - ARS Investment Partners Aaron Warwick - Breakout Investors Stephen Fein - Sofein LLC Operator Greetings. Welcome to the Perma-Fix Second Quarter 2023 Earnings Confe ...