Financial Data and Key Metrics Changes - Total radiopharmaceutical revenues for Q3 2025 were $1.3 million, an 18% increase compared to Q3 2024, and year-to-date revenues reached $3.6 million, a 24% increase versus 2024 [31][32] - Year-to-date total operating expenses increased by $16.5 million, or 84%, from $19.7 million in 2024 to $36.2 million in 2025 [31][32] - Net loss from operations for year-to-date 2025 was $34.9 million, compared to $18.7 million for the same period in 2024 [32][33] - Cash balance as of September 30, 2025, was $113.9 million, reflecting net proceeds of approximately $56 million from common stock issuance during Q3 2025 [34] Business Line Data and Key Metrics Changes - The multi-isotope plant in South Africa is currently enriching silicon-28 and has shipped commercial samples validated for isotopic purity [4][5] - The nuclear medical segment has seen growth in volumes and doses sold, leading to increased revenues [9] - The carbon plant is expected to start producing carbon-14, with the first full batch anticipated in January 2026 [8] Market Data and Key Metrics Changes - The acquisition of Renergen is expected to enhance the company's capabilities in the semiconductor gas vertical, with regulatory approvals nearly complete [5][6] - The company is expanding its radiopharmaceutical operations globally, with the first purchase in the U.S. announced for East Coast Nuclear in Florida [10] Company Strategy and Development Direction - The company aims to secure supply chains of critical materials essential to the U.S. and ASP Isotopes, with recent acquisitions supporting this strategy [21][22] - Quantum Leap Energy (QLE) plans to produce lithium-7 and lithium-6 isotopes to meet the growing demand in the nuclear industry [15][16] - The company is focused on operational de-risking and plans to complete the Renergen acquisition and IPO of QLE in the near future [26][27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the operational capabilities and customer relationships, emphasizing the positive feedback from customers regarding the silicon-28 enrichment process [38] - The company anticipates significant revenue opportunities in 2026 and 2027, particularly around ytterbium-176 and silicon-28 [49][50] Other Important Information - The company has raised $64.3 million via convertible notes, bringing pro forma cash on hand to $81.6 million [13] - The company is planning to construct new plants in various locations, including Iceland, the U.S., and the U.K., during 2026 [29][30] Q&A Session Summary Question: Can you talk about the delays in shipping Silicon-28? - Delays were due to the complexity of the production process and modifications made after customer visits, which improved the customer-supplier relationship [37][38] Question: When do you expect to achieve operational de-risking in respect of Renergen? - Operational de-risking is expected by the end of Q1 2026, focusing on completing phase 1C of the project [39][40] Question: When will the company begin to recognize revenue in its isotopes enrichment segment? - Revenue recognition for carbon is expected by the end of December 2025, with silicon isotopes anticipated in the first half of 2026 [41][42] Question: What did the customers say about our samples of both Ytterbium and Silicon? - Customers were pleased with the results of the samples, indicating that the technology works effectively [44][47] Question: Can you discuss the revenue opportunity for Ytterbium-176 and Silicon-28? - The company is maintaining previous revenue guidance of $50-$70 million for 2026 and 2027 [49][50] Question: What is the capital commitment for building new facilities in 2026? - Detailed capital commitment information will be provided in future updates [54][55] Question: Can you elaborate on the LEU Plus opportunity? - LEU Plus is a subcategory of HALEU, driven by customer inquiries, aimed at increasing power density and extending the life of nuclear power plants [56][60] Question: Should the $3 million revenue from Skyline Builders be modeled going forward? - The revenue from Skyline Builders is not expected to continue, as the focus will shift to securing the nuclear supply chain [64][66]

Core Viewpoint - NANO Nuclear Energy Inc. has signed a Memorandum of Understanding (MOU) with Dioxitek S.A. to explore opportunities in Argentina's nuclear fuel supply chain, aiming to enhance domestic uranium conversion capabilities and reduce reliance on foreign suppliers [1][2][3]. Group 1: MOU Details - The MOU establishes a non-binding framework for evaluating uranium conversion to enrichment feedstock and supporting infrastructure in Argentina [2]. - NANO Nuclear and Dioxitek will assess the feasibility of collaboration to develop an enrichment production line at Dioxitek's facility [2]. - The collaboration aims to support Argentina's nuclear supply chain and promote the peaceful use of nuclear energy [2]. Group 2: Strategic Importance - Argentina's strategic uranium reserves present an opportunity to address the global uranium hexafluoride (UF₆) shortage by developing domestic conversion capabilities [3]. - The MOU aligns with Argentina's regulatory changes in the nuclear sector, allowing NANO Nuclear to deepen its involvement in the country [3][4]. - The collaboration is expected to contribute to the advancement of Argentina's nuclear infrastructure and fuel cycle capabilities [4][5]. Group 3: Company Background - NANO Nuclear Energy Inc. is focused on becoming a diversified and vertically integrated company across multiple business lines, including nuclear fuel fabrication and transportation [8]. - The company is developing advanced nuclear reactor technologies, including the KRONOS MMR™ Energy System and portable LOKI MMR™ [9][12]. - NANO Nuclear's subsidiary, Advanced Fuel Transportation Inc., aims to build a North American transportation company for HALEU fuel [10].

Financial Data and Key Metrics Changes - Year to date loss from operations was $35.8 million, an increase of approximately $28 million from the comparable nine-month prior year period [43] - Year to date net loss totaled $32 million, up approximately $24 million from the prior year period, reflecting increases in R&D and G&A expenses [44] - Cash and cash equivalents increased to $210.2 million, an approximate $92 million increase from the end of the second fiscal quarter [45] Business Line Data and Key Metrics Changes - The company advanced its patented Cronos MMR energy system toward construction, demonstration, and licensing with the U.S. Nuclear Regulatory Commission (NRC) [20] - A strategic collaboration agreement was executed to build out the first Cronos MMR at the University of Illinois Urbana Champaign [21] - The company signed an MOU with UR America to explore strategic development across Argentina's uranium fuel supply chain [23] Market Data and Key Metrics Changes - Analysts project U.S. electricity consumption to rise at approximately 2.4% CAGR between 2022 and 2030, with data centers expected to comprise 8% of U.S. power by 2030 [12][13] - There is a growing global commitment to triple nuclear capacity by 2050, solidifying growth in nuclear energy as a secular trend for the coming decades [11] Company Strategy and Development Direction - The company is focused on a vertically integrated strategy to derisk microreactor development and enhance its competitive position [6][8] - The acquisition of Cronos MMR microreactor positions the company as a North American leader in microreactor commercialization [6] - The company aims to secure key stages of the nuclear fuel supply chain as a strategic priority [34] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to capitalize on macro trends driving demand for advanced nuclear solutions [9] - The company highlighted the importance of bipartisan legislative and policy support for nuclear energy, which has emerged as a strategic focus for national security and climate goals [14][15] - Management is optimistic about the future, citing a strong team and a clear vision for commercialization [17] Other Important Information - The company closed a private placement for net proceeds of $99 million, strengthening its balance sheet and expanding institutional ownership [9] - Recent personnel additions and collaborations validate the company's strong competitive position [25][27] Q&A Session Summary Question: Progress in Canada to license there - The company is focused on reengaging with the Canadian licensing process and has almost completed the legal process of taking the holding entity out of bankruptcy [51][52] Question: Commercial sales opportunities for ALIP - The company is completing the SBIR Phase three process with the DOE, which will enable it to become a default contractor for supplying ALIP technology [58] Question: Cash usage during the remainder of 2025 and into 2026 - The estimated cash burn over the next twelve months is around $40 million, primarily for hiring and operational support [68] Question: Strategy of vertical integration - The company is examining how to involve itself in upstream processes like mining, milling, and conversion to derisk the fuel supply chain [75] Question: Application for the DOE Advanced Reactor pilot program - The company did not apply for the DOE program as it would result in higher costs and no commercial benefit [80][82] Question: Supply chain for nuclear grade graphite - The company is negotiating with suppliers for components like nuclear grade graphite and reactor pressure vessels, which will need to be outsourced [87]

Financial Data and Key Metrics Changes - Centrus Energy reported revenue of $73.1 million for Q1 2025, an increase of $29.4 million compared to Q1 2024 [19][20] - The company achieved a net income of $27.2 million, a significant improvement from a net loss of $6.1 million in the same quarter last year [19][20] - Gross profit for the quarter was $32.9 million, compared to $4.3 million in Q1 2024 [19][20] - The cash balance at the end of Q1 2025 was $685.7 million, including $32.7 million of restricted cash [24] Business Line Data and Key Metrics Changes - The LEU segment generated $51.3 million in SWU revenue, an increase of $27.7 million year-over-year, driven by higher volume and average price per SWU sold [20] - The LEU cost of sales for SWU decreased from $23.1 million in Q1 2024 to $20.1 million in Q1 2025, reflecting a 48% decrease in average unit cost [20] - The Technical Solutions segment reported revenue of $21.8 million, up $1.7 million from the previous year, but gross profit decreased to $1.7 million due to delays in obtaining storage cylinders [21][22] Market Data and Key Metrics Changes - The total company backlog was $3.8 billion as of March 31, 2025, with the LEU segment backlog at approximately $2.8 billion [22] - The LEU segment backlog includes $700 million of future SWU and uranium deliveries and $2.1 billion in contingent LEU sales commitments [22] Company Strategy and Development Direction - Centrus aims to secure sufficient public and private capital to expand its enrichment capacity and restore America's uranium enrichment capability [11][19] - The company is pursuing four parallel readiness initiatives, including strengthening its balance sheet and expanding centrifuge manufacturing capacity [12][13] - Centrus emphasizes the importance of reducing dependency on foreign nations and increasing competition in the market for enriched uranium [26][28] Management's Comments on Operating Environment and Future Outlook - Management noted ongoing uncertainty in the global trade environment but reported no impact on operations from tariffs [8][10] - The company is optimistic about the Department of Energy's plans to award $2.7 billion for fuel awards, indicating a positive momentum [31][32] - There is a clear market demand for enriched uranium, particularly for national security purposes and the upcoming advanced reactor markets [18][19] Other Important Information - Centrus is the only company currently enriching uranium with U.S.-owned technology and has a domestic supply chain [7][26] - The company has received political support for its initiatives, with bipartisan backing from local and federal officials [16][17] Q&A Session Summary Question: Update on Department of Energy activity - Management indicated that the DOE is moving quickly and plans to award $2.7 billion, with a lot of activity and momentum observed [31][32] Question: Status of Russian shipment activity - Management confirmed that the process for Russian shipments remains unchanged, with normal business operations continuing [33] Question: Licensing for HALEU production - Management explained that obtaining a HALEU license is a lengthy and costly process, taking years and requiring significant investment [36][37] Question: Timing of SWU and uranium sales - Management noted that customer reloads typically occur every 18 to 24 months, which drives revenue timing [67] Question: Impact of tariffs on customer discussions - Management stated that there have been no disruptions from tariffs, and their supply chain is fully domesticated, reducing exposure compared to competitors [57][58] Question: Dynamics of SWU cost decrease - Management clarified that the 48% decrease in SWU costs was influenced by increased volume and average costing practices [75][77] Question: Competitive landscape for HALEU production - Management highlighted that Centrus is the only facility with a CAT II license for HALEU enrichment, emphasizing their first-mover advantage [80][82]

Financial Data and Key Metrics Changes - Centrus reported revenue of $73.1 million for Q1 2025, an increase of $29.4 million compared to Q1 2024 [18] - The company achieved a net income of $27.2 million, compared to a net loss of $6.1 million in the same quarter last year [18] - Gross profit for the quarter was $32.9 million, significantly up from $4.3 million in Q1 2024 [19] - The cash balance at the end of Q1 2025 was $685.7 million, including $32.7 million of restricted cash [23] Business Line Data and Key Metrics Changes - The LEU segment generated $51.3 million in SWU revenue, an increase of $27.7 million year-over-year [19] - The LEU cost of sales for SWU decreased from $23.1 million in Q1 2024 to $20.1 million in Q1 2025, driven by a 48% decrease in the average unit cost of SWU sold [19][20] - The Technical Solutions segment reported revenue of $21.8 million, up $1.7 million from the previous year, but gross profit decreased to $1.7 million due to delays in obtaining storage cylinders [20][21] Market Data and Key Metrics Changes - The total company backlog was $3.8 billion as of March 31, 2025, with the LEU segment backlog at approximately $2.8 billion [21] - The LEU segment backlog includes $700 million of future SWU and uranium deliveries and $2.1 billion in contingent LEU sales commitments [21] Company Strategy and Development Direction - Centrus aims to secure sufficient public and private capital to expand its enrichment capacity and restore America's uranium enrichment capability [11][24] - The company is pursuing four parallel readiness initiatives, including strengthening its balance sheet and expanding centrifuge manufacturing capacity [12][13] - Centrus emphasizes the importance of reducing dependency on foreign nations and increasing competition in the nuclear energy market [24][26] Management's Comments on Operating Environment and Future Outlook - Management noted ongoing uncertainty in the global trade environment but reported no impact on operations from tariffs [7][10] - The company is confident in its investment case as the only publicly traded enricher capable of meeting commercial and national security needs [11][24] - There is a growing market for enriched uranium, particularly for national security purposes and advanced reactor markets [17] Other Important Information - Centrus has received political support for its initiatives, with bipartisan advocacy for funding to support American jobs and technology [15][16] - The company has a strong first mover advantage in domestic centrifuge production, with all manufacturing conducted in the U.S. [25] Q&A Session Summary Question: Update on Department of Energy activity - Management reported that the DOE is moving quickly and planning to award $2.7 billion, indicating positive momentum [31] Question: Status of Russian shipment activity - There have been no changes in the process, and shipments are proceeding normally without impediments [32] Question: Licensing for HALEU production - Obtaining a HALEU license is a lengthy and costly process, taking years and requiring significant investment [36] Question: Timing of SWU and uranium sales - Management indicated that customer reloads typically occur every 18 to 24 months, which drives revenue timing [68] Question: Impact of tariffs on customer discussions - To date, there have been no impacts from tariffs, and the supply chain remains fully domesticated [57] Question: Competitive landscape for HALEU production - Centrus is currently the only facility with a CAT II license for HALEU enrichment, providing a significant competitive advantage [84]