Financial Data and Key Metrics Changes - Energy Fuels reported a net loss of $86 million or $0.38 per share for fiscal year 2025, compared to a net loss of $47 million or $0.28 per share in fiscal 2024, reflecting higher ongoing costs due to global operations expansion and investments in core projects [35] - The company ended the year with $1.4 billion in total assets and $927 million in working capital, including $862 million in cash and marketable securities [34] - The average cost of goods sold decreased from $53 per pound to $43 per pound by the end of 2025, with expectations to further decrease as production ramps up [17][36] Business Line Data and Key Metrics Changes - Energy Fuels mined over 1.7 million pounds of uranium and processed over 1 million pounds of finished U308 in 2025, with plans to materially increase uranium mining production and sales in 2026 [4][14] - The company sold 650,000 pounds of uranium at an average price of $74.20 per pound in 2025, an increase of 200,000 pounds year-over-year [36][18] - The rare earth segment made significant progress, including pilot production of Dysprosium and plans for Terbium oxides, with a feasibility study indicating a combined net present value of $3.7 billion for key projects [5][24] Market Data and Key Metrics Changes - The average month-end uranium spot prices were approximately 13.8% lower in 2025 compared to 2024, impacting revenue per pound and gross margin percentage, which was 31% in 2025 [36] - The company anticipates stronger fundamentals for uranium prices and demand growth in the future, with expectations for gross margin to increase to 50% and above in 2026 [36][18] Company Strategy and Development Direction - Energy Fuels aims to solidify its position as the largest and lowest-cost U.S. uranium producer while emerging as a significant player in the rare earth and critical minerals market [6][3] - The company is focused on expanding its production capabilities through various projects, including the Donald Project and the Vara Mada project, which are expected to enhance its rare earth production capacity [30][32] - The proposed acquisition of Australian Strategic Materials (ASM) is expected to enhance margin capture and position the company to capitalize on the reshoring of U.S. manufacturing [26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to execute its aggressive plans, highlighting the strong financial, technical, and commercial capabilities [3] - The transition to a new CEO is expected to maintain the momentum of growth and execution, with a focus on expanding the team to support multiple construction projects [43][81] - Management remains optimistic about the future of uranium and rare earth markets, emphasizing the importance of their diversified asset base [60][72] Other Important Information - The company completed a $700 million convertible note offering, which was oversubscribed and provides substantial flexibility to fund ongoing operations and strategic projects [34][37] - The White Mesa Mill is highlighted as a unique asset capable of processing both uranium and rare earths, positioning the company as a critical mineral hub [19][20] Q&A Session Summary Question: Timeline for heavy mineral sands projects - Management confirmed that the Donald Project is shovel-ready, with a focus on making a final investment decision soon, while progress on the Vara Mada project is ongoing with government support [51][52] Question: Updates on government support and offtake - Management noted that the scale of their operations and asset acquisitions has garnered attention from government entities, indicating potential for future support [57][60] Question: Factors driving uranium production guidance - The production guidance is dependent on the runtime of the mill and mining rates, with flexibility to switch between uranium and rare earth production as needed [63][82] Question: Spot market sales strategy - Management indicated a cautious approach to spot sales, preferring to sell at higher prices while maintaining a balance between spot and term contracts [66][68]

Energy Fuels (NYSEAM:UUUU) Q4 2025 Earnings call February 27, 2026 11:00 AM ET Company ParticipantsCurtis Moore - SVP of Marketing and Corporate DevelopmentMark Chalmers - CEOMatthew Key - VP of Equity ResearchNathan Bennett - CFONoel Parks - Managing Director, CleanTech and E&PRoss Bhappu - PresidentConference Call ParticipantsAnthony Taglieri - Equity Research AnalystBrian Lee - Equity Research AnalystHeiko Ihle - Managing Director, Senior Metals and Mining AnalystJoseph Reagor - Managing Director, Senior ...

Financial Data and Key Metrics Changes - Energy Fuels reported a net loss of $86 million or $0.38 per share for fiscal year 2025, compared to a net loss of $47 million or $0.28 per share in fiscal 2024, reflecting higher ongoing costs due to global operations expansion [33] - The company ended the year with $1.4 billion in total assets and $927 million in working capital, including $862 million in cash and marketable securities [32] - The average month-end uranium spot prices were approximately 13.8% lower in 2025 compared to 2024, impacting revenue per pound and gross margin percentage, which was 31% in 2025 [34] Business Line Data and Key Metrics Changes - Energy Fuels mined over 1.7 million pounds of uranium and processed over 1 million pounds of finished U308 in 2025, with plans to materially increase uranium mining production and sales in 2026 [3][13] - The company sold 650,000 pounds of uranium at an average price of $74.20 per pound in 2025, an increase of 200,000 pounds year-over-year [34][16] - The White Mesa Mill produced about 1 million pounds of finished product, with production costs decreasing from $53 per pound to $43 per pound by the end of 2025 [15][34] Market Data and Key Metrics Changes - The company is positioned as the largest and lowest-cost U.S. uranium producer and is emerging as a large-scale, low-cost rare earth and critical mineral producer [5][2] - The rare earth segment made remarkable progress, with pilot production of Dysprosium and plans for Terbium oxides, and the NdPr and Dy products have been qualified for use by major automobile manufacturers [4][19] Company Strategy and Development Direction - Energy Fuels aims to build a globally significant critical materials company, leveraging its core uranium business to expand into rare earths and other critical minerals [6][2] - The company has plans for significant expansions, including the Donald joint venture project in Australia and the Vara Mada project in Madagascar, with combined net present values estimated at $3.7 billion [4][30] - The acquisition of Australian Strategic Materials (ASM) is expected to enhance margin capture and position the company to capitalize on the reshoring of U.S. manufacturing [25][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's financial, technical, and commercial capabilities to execute aggressive plans, highlighting a strong balance sheet and operational milestones achieved in 2025 [2][5] - The company anticipates a significant increase in uranium production and sales in 2026, with guidance for mined uranium increasing to between 2 million and 2.5 million pounds [37][38] - Management noted that the current market conditions for uranium are favorable, with expectations for stronger fundamentals and increased demand in the future [16][70] Other Important Information - The company completed a $700 million convertible note offering at a 7.75% coupon rate, providing substantial liquidity for ongoing operations and strategic projects [4][32] - The White Mesa Mill is the only operating conventional uranium mill in the U.S. and has been transformed into a critical mineral hub, capable of processing both uranium and rare earths [17][18] Q&A Session Summary Question: Timeline for heavy mineral sands projects - Management confirmed that the Donald Project is shovel-ready, with a focus on making a final investment decision soon, while progress on the Vara Mada project is ongoing with government support [49][50] Question: Government support and offtake discussions - Management indicated that the scale of the company's assets is gaining attention from government entities, and they are optimistic about future support [54][56] Question: Factors driving uranium production guidance - The production guidance is dependent on mill runtime and mining rates, with plans to build inventories of unprocessed uranium for flexibility [60][80] Question: Spot market sales strategy - The company aims to time spot sales strategically, focusing on higher prices while maintaining a balance between spot and term contracts [62][70]

Energy Fuels Inc (NYSE:UUUU) shares are trading lower on Friday after the uranium and rare earths producer posted fourth-quarter results that matched Wall Street profit forecasts while topping revenue expectations. Here’s what investors need to know.Energy Fuels stock is off session lows. Why is UUUU stock volatile?Quarterly Loss Narrows, Revenue Beats EstimatesThe company reported a fourth-quarter net loss of 9 cents per share, in line with analyst estimates and an improvement from a 19-cent loss a year ea ...

Energy Fuels (UUUU) came out with a quarterly loss of $0.08 per share versus the Zacks Consensus Estimate of a loss of $0.07. This compares to a loss of $0.19 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -14.29%. A quarter ago, it was expected that this uranium and vanadium miner and developer would post a loss of $0.08 per share when it actually produced a loss of $0.07, delivering a surprise of +12.5%.Over the last four q ...

Energy Fuels Announces 2025 Results and 2026 Guidance [Accessibility Statement] Skip NavigationIncreased uranium sales, over one million pounds of low-cost U.S. uranium production, successful ongoing heavy rare earth pilot production, and completion of upsized $700 million 0.75% convertible senior notes boosts working capital to near $1 billion.DENVER, Feb. 26, 2026 /PRNewswire/ - Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) ("Energy Fuels" or the "Company"), a leading U.S. producer of uranium, rare e ...

Table of Contents 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, 2025 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 number: 001-36204 ENERGY FUELS INC. (Exact Name of Registrant as Specified in Its Charter) Ontari ...

Core Viewpoint - Energy Fuels Inc. (UUUU) is expected to report a loss for the fourth quarter of 2025, with revenues projected to decline by 32% year-over-year to $27 million [1][5]. Revenue and Earnings Estimates - The Zacks Consensus Estimate for UUUU's revenues in Q4 2025 is $27 million, down from $39.9 million in the same quarter last year, indicating a 32% decline [1][7]. - The earnings estimate has improved from a loss of eight cents to a loss of seven cents per share over the past 60 days, reflecting a narrower loss compared to the 19 cents reported in Q4 2024 [2]. Cost and Margin Pressures - Lower uranium prices and increased exploration and SG&A costs are expected to pressure Energy Fuels' margins [5]. - Exploration, development, and processing expenses are anticipated to rise due to inflation and ongoing project advancements, particularly at the La Sal Complex and other sites [8]. - The commencement of processing lower-cost ore from the Pinyon Plain mine may help reduce uranium production costs, providing some margin support [8]. Performance Comparison with Peers - Cameco Corporation (CCJ) reported a 1.5% year-over-year increase in total revenues for Q4 2025, while Centrus Energy (LEU) saw a 4% decline in total revenues [10][12]. - Energy Fuels' shares have surged 361% over the past year, outperforming its peers and the broader market [14]. Valuation Metrics - UUUU is currently trading at a forward sales multiple of 45.35, significantly higher than the industry average of 5.23 [17]. - In comparison, Cameco and Centrus Energy have lower price-to-sales ratios of 19.86 and 8.54, respectively [18]. Strategic Positioning - Energy Fuels has positioned itself as a key U.S. uranium producer and is expanding its rare earth element capabilities to meet rising clean energy demand [19]. - The planned acquisition of Australian Strategic Materials is expected to strengthen its position in REE metals and alloys [19].

Core Viewpoint - Wall Street anticipates a year-over-year increase in earnings for Energy Fuels despite lower revenues, with actual results being crucial for stock price movement [1][2]. Earnings Expectations - Energy Fuels is expected to report a quarterly loss of $0.07 per share, reflecting a year-over-year change of +63.2% [3]. - Revenues are projected to be $27 million, down 32.4% from the same quarter last year [3]. Estimate Revisions - The consensus EPS estimate has been revised 33.33% lower in the last 30 days, indicating a reassessment by analysts [4]. - The Most Accurate Estimate for Energy Fuels is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -42.86% [12]. Earnings Surprise Prediction - A positive Earnings ESP is a strong predictor of an earnings beat, especially when combined with a Zacks Rank of 1, 2, or 3 [10]. - Energy Fuels currently holds a Zacks Rank of 3, making it challenging to predict an earnings beat [12]. Historical Performance - In the last reported quarter, Energy Fuels was expected to post a loss of $0.08 per share but delivered a loss of -$0.07, resulting in a surprise of +12.50% [13]. - Over the past four quarters, the company has only beaten consensus EPS estimates once [14]. Conclusion - Energy Fuels does not appear to be a compelling candidate for an earnings beat, and investors should consider other factors before making decisions [17].

Group 1 - Whales have taken a bullish stance on Energy Fuels, with 37% of investors opening trades with bullish expectations and 37% with bearish [1] - The total amount for puts is $132,663 and for calls is $226,558, indicating a higher interest in calls [1] - Major market movers are focusing on a price band between $17.0 and $35.0 for Energy Fuels over the last three months [2] Group 2 - The volume and open interest data for Energy Fuels' options provide insights into liquidity and investor interest, particularly within the $17.0 to $35.0 strike price range [3] - Energy Fuels Inc is a critical minerals company that mines uranium and produces natural uranium concentrates for nuclear utilities, holding key production centers in Utah and Wyoming [4] - In the last month, experts have released ratings on Energy Fuels with an average target price of $24.17 [5] Group 3 - Currently, Energy Fuels is trading at $21.21, up by 3.11%, with a volume of 6,112,784 [7] - An analyst from Goldman Sachs has lowered its rating to Buy with a new price target of $30, while B. Riley Securities maintains a Buy rating with a target of $27, and Roth Capital upgraded its action to Neutral with a price target of $15 [7]