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] - 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 [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] - 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] - 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] - The company has secured a contract for silicon-28 and aims to fulfill customer orders by 2026 [4] Company Strategy and Development Direction - The company aims to diversify its operations beyond South Africa and expand its radiopharmaceutical footprint globally [70] - Quantum Leap Energy (QLE) plans to secure the nuclear supply chain and has raised $64.3 million via convertible notes to support its initiatives [13][14] - The acquisition of Skyline Builders is part of a strategy to secure critical material supply chains essential for the U.S. and ASP Isotopes [21] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the operational capabilities and customer relationships, emphasizing the positive feedback from customers regarding the enrichment processes [38] - The focus for the next six months includes completing the Renergen acquisition and achieving operational de-risking by the end of Q1 2026 [39][40] - The company is committed to providing further guidance on revenue projections as clarity improves internally [52][53] Other Important Information - The company is planning to begin construction of new plants in various locations, including Iceland, the U.S., and the U.K., during 2026 [29] - The first quantum enrichment plant is producing ytterbium-176, with commercial quantities expected in the first half of 2026 [7] 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, 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: Is the $50-$70 million revenue opportunity in 2026 and 2027 still valid? - The company is not changing previous guidance and will provide updates as more clarity is achieved [49][50][52] Question: Can you help us understand the capital commitment in 2026 for new facilities? - Detailed breakdowns of capital commitments and revenue opportunities will be provided in future updates [54][55] Question: Can you discuss the opportunity for LEU Plus? - LEU Plus is a new focus based on customer inquiries, aimed at increasing power density and extending the life of existing nuclear power plants [56][60] Question: Should we model the $3 million revenue from Skyline Builders going forward? - The revenue from Skyline Builders is not expected to continue, as the focus will shift away from construction [64][66]

当人类还在为手机一天三充苦恼时，中国科学家已悄然打开原子能应用的魔盒。西北师范大学联合攻关 团队近日宣布，全球首款碳-14核电池"烛龙"横空出世，这项将放射性同位素转化为持久电能的技术突 破，正在重写人类能源应用的基本法则。 这项看似来自科幻小说的技术，实则建立在对碳元素的全新认知之上。研究团队独创的纳米级金刚石半 导体，完美破解了碳-14衰变能的捕获难题。实验室数据显示，直径仅3厘米的电池单元可稳定输出1.6 微瓦电力，在持续点亮LED灯组124天的实测中，能量转化曲线近乎水平——这意味着其理论工作寿命 确实能与5730年的碳同位素半衰期同步。 中国突破能源科技次元壁： 碳基核电池开启千年续航时代…… 与传统的钚-238核电池相比，碳基方案展现出三重颠覆性优势：在青藏高原极地模拟舱内，电池组 在-112℃至217℃的极端温域中保持稳定输出；原料成本较前代技术骤降95%，单克能量密度却突破 2200mWh，相当于将300节5号电池的能量压缩至米粒大小；更关键的是，其辐射剂量经第三方检测仅 为本底环境的1/400，彻底改写核能设备的安全标准。 在西北师大超净实验室，笔者见证了这个"能源永动机"的震撼演示。陈列架 ...