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

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]