Perma-Fix Reports Financial Results and Provides Business Update for the Second Quarter of 2025

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]