Financial Data and Key Metrics Changes - Total revenue from continuing operations for Q1 2022 was $15.9 million, a decrease of $7.2 million or 31.2% compared to $23.1 million in Q1 2021 [21] - Gross profit for the quarter was $1.6 million, down from $2.4 million in 2021, reflecting a reduction of approximately $720,000 due to lower revenue in the Services Segment and higher costs in the Treatment Segment [23] - Net loss attributable to common shareholders for the quarter was $1.3 million, compared to a net loss of $1.1 million in the previous year [24] - Adjusted EBITDA from continuing operations was a loss of $1.4 million, compared to a loss of $522,000 in the prior year [24] Business Line Data and Key Metrics Changes - The Services Segment experienced a significant revenue drop due to delays in new projects, while the Treatment Segment maintained consistent revenue [21][22] - The backlog for services projects was approximately $58 million, indicating potential growth in the upcoming quarters [8] - The Treatment Segment is seeing strong demand for waste treatment capacity, with new shipments expected to provide sustainable revenue [12] Market Data and Key Metrics Changes - The federal government is expected to procure new projects in Q2 and Q3, which could further contribute to revenue growth [8] - The 2022 Federal Spending Bill allocates $900 million for the Department of Energy's Office of Environmental Management, supporting increased waste treatment projects [13] Company Strategy and Development Direction - The company is focusing on expanding its capabilities in waste treatment and bidding on larger service projects within the Department of Energy [10][12] - The Test Bed Initiative (TBI) is a key project, with expectations for significant revenue potential from the treatment of low-activity waste [14][16] - The company is optimistic about capitalizing on pent-up demand for waste treatment services due to delays caused by the pandemic [11][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in a significant improvement in performance for the remainder of 2022, driven by increased bidding activities and federal budget support [20] - The company is seeing a turnaround in Q2 and has better visibility for the balance of the year, aiming to exceed pre-pandemic performance levels [20] Other Important Information - The company has maintained a solid balance sheet and scalable infrastructure, positioning itself well for future growth [20] - The company is actively involved in international projects, including a framework contract in the UK for waste treatment services [83] Q&A Session Summary Question: Confirmation of agreement for grouting low-level waste - Management confirmed that both the State of Washington Department of Energy and regulators are supportive of the grouting initiative for low-level waste [32] Question: Status of the 300,000 to 500,000-gallon test - Management indicated ongoing progress with the tank-side cesium removal system and expressed hope for successful treatment and disposal of waste [38] Question: Backlog details - The $58 million backlog is entirely from services, with treatment backlog at approximately 6.1% [46] Question: Ability to pass on increased costs - Management stated that while some costs have increased, they have been able to pass on costs for certain waste streams without significantly impacting margins [48] Question: Update on the $220 million EPA contract - Management mentioned that they are awaiting task orders and expect to start receiving them by mid-May [39] Question: Revenue expectations for the year - Management aims to reach a quarterly revenue level of $25 million by the end of the year, targeting to exceed pre-COVID revenue levels [66] Question: Safety measures and incidents - Management reassured that safety remains a top priority, with a strong safety record and ongoing improvements in safety culture [86]

Revenue Performance - Revenue decreased by $7,218,000 or 31.2% to $15,915,000 for the three months ended March 31, 2022, compared to $23,133,000 for the same period in 2021[105]. - Services Segment revenue decreased by approximately $7,202,000 or 46.1%, primarily due to delays in new project activities caused by COVID-19[111]. - Treatment Segment revenue decreased slightly by $16,000 or 0.2%, with government waste revenue increasing by approximately $1,050,000 or 23.9% due to higher waste volume[111]. - During the three months ended March 31, 2022, revenue from government clients represented approximately $14,158,000 or 89.0% of total revenue, compared to $20,157,000 or 87.1% in the same period of 2021[137]. Profitability and Expenses - Gross profit decreased by $720,000 or 30.6%, while Selling, General, and Administrative expenses increased by $217,000 or 6.8% for the three months ended March 31, 2022[105]. - Cost of goods sold decreased by $6,498,000 or 31.3% for the quarter ended March 31, 2022, compared to the same period in 2021, primarily due to lower revenue in the Services Segment[112]. - Gross profit for the quarter ended March 31, 2022, decreased by $720,000 or 30.6%, with the Treatment Segment gross margin dropping to 8.5% from 12.3%[113]. - SG&A expenses increased by $217,000 for the three months ended March 31, 2022, with total SG&A expenses representing 21.5% of revenue[114]. - R&D expenses decreased by $54,000 to $96,000 for the three months ended March 31, 2022, primarily due to the sale of PF Poland[116]. - Interest expense decreased by approximately $32,000 in Q1 2022 due to a declining term loan balance and the forgiveness of a PPP loan[117]. - Income tax benefit for continuing operations was approximately $673,000 for Q1 2022, compared to $17,000 for the same period in 2021, with an effective tax rate of 35.0%[118]. - Inflationary pressures have led to increased operating costs, which may further reduce profitability[144]. Cash Flow and Working Capital - Cash provided by operating activities of continuing operations was $148,000, while cash used in investing activities totaled $321,000 for the first three months of 2022[121]. - Working capital decreased to $2,341,000 at March 31, 2022, from $4,060,000 at December 31, 2021, primarily due to operational impacts from COVID-19[125]. - The company has approximately $2,722,000 in unpaid receivables and unbilled costs due from CNL as a result of work performed under a terminated TOA[140]. Future Outlook and Strategic Initiatives - The company expects gradual improvement in waste receipts as customers ease COVID-19 restrictions, although delays may persist[100]. - The company is experiencing a large increase in proposal requests within its Treatment Segment, indicating potential future revenue growth[100]. - The company continues to assess the need to reduce operating costs, which may include curtailing capital expenditures and eliminating non-essential expenditures[101]. - The company budgeted approximately $2,000,000 for capital expenditures in 2022, primarily for Treatment and Services Segments[127]. - A joint venture was signed with Springfields Fuels Limited to develop a nuclear waste-materials treatment facility in the UK, with the company holding a 45% interest[128]. - The deployment of a new waste processing unit, delayed due to supply chain challenges, is expected to commence in the second quarter of 2022[142]. - The company signed a term sheet to partner with Springfields Fuels Limited to develop a nuclear waste-materials treatment facility in the UK[143]. Financial Position and Liabilities - The company had borrowing availability under its revolving credit facility of approximately $4,544,000 as of March 31, 2022[101]. - As of March 31, 2022, the total amount of standby letters of credit outstanding was approximately $3,020,000, and the total amount of bonds outstanding was approximately $51,295,000[134]. - As of March 31, 2022, total accrued environmental remediation liabilities were $876,000, with $621,000 recorded as current[148]. - The company expects to meet its quarterly financial covenant requirements for the next twelve months under its Loan Agreement[133]. - The company was not required to perform testing of the FCCR requirement in the first quarter of 2022 due to an amendment in the Loan Agreement[133]. Operational Challenges - The company is closely monitoring customer payment performance, with expectations that accounts receivable collections will not be materially impacted due to COVID-19[102]. - The company experienced delays in revenue generation due to supply chain interruptions affecting the delivery of necessary equipment[142].

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, 2021 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) Q4 2021 Earnings Conference Call March 31, 2022 11:00 AM ET Company Participants David Waldman - Investor Relations Mark Duff - President and CEO Dr. Lou Centofanti - EVP, Strategic Initiatives Ben Naccarato - Chief Financial Officer Conference Call Participants Howard Brous - Wellington Shields Aaron Warwick - Breakout Investors Ross Taylor - ARS Investment Partners Ryan Hamilton - Morgan Dempsey Capital Management Operator Good morning, ladies and gentle ...

Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) Q3 2021 Earnings Conference Call November 12, 2021 2:00 PM ET Company Participants David Waldman – Investor Relations Mark Duff – President and Chief Executive Officer Ben Naccarato – Chief Financial Officer Lou Centofanti – Executive Vice President-Strategic Initiatives Conference Call Participants Howard Brous – Wellington Shields Ryan Hamilton – Morgan Dempsey Capital Management Operator Good afternoon, ladies and gentlemen, and welcome to the Perma-F ...

Commission File No. 001-111596 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 PERMA-FIX ENVIRONMENTAL SERVICES, INC. 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, 2021 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to (Address of principal executive of ices) (Zip Code) (770) 587-9898 (Exact name of registrant ...

Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) Q2 2021 Earnings Conference Call August 11, 2021 11:00 AM ET Company Participants David Waldman - Investor Relations Mark Duff - President & Chief Executive Officer Ben Naccarato - Chief Financial Officer Lou Centofanti - Executive Vice President of Strategic Initiatives Conference Call Participants Howard Brous - Wellington Shields Operator Good day, ladies and gentlemen, and welcome to the Perma-Fix Second Quarter 2021 Conference Call. All lines have be ...

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 June 30, 2021 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 ENVIRONMENTAL SERVICES, INC. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of in ...

Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) Q1 2021 Earnings Conference Call May 6, 2021 11:00 AM ET Company Participants David Waldman – Investor Relations Mark Duff – President and Chief Executive Officer Ben Naccarato – Chief Financial Officer Conference Call Participants Howard Brous – Wellington Shields Operator Good day, everyone, and welcome to the Perma-Fix First Quarter 2021 Conference Call. [Operator Instructions] Please note that this call may be recorded. It is now my pleasure to turn t ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 10-Q [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 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. 111596 PERMA-FIX ENVIRONMENTAL SERVICES, INC. (Exact name of registrant as specified in its ch ...