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Uranium Energy (UEC) investor relations material
Uranium Energy Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Established the only vertically integrated U.S. uranium company, spanning mining, processing, refining, and conversion, with the launch of United States Uranium Refining & Conversion Corp (UR&C).
Maintained and expanded low-cost ISR production, advancing growth projects in Wyoming and South Texas, with Burke Hollow and Ludeman nearing operational status.
Achieved major construction milestones at Burke Hollow, Roughrider, and Sweetwater, and expanded workforce to support operational growth.
Robust financial position with $698 million in cash, inventory, and equities, and no debt as of October 31, 2025.
Benefiting from strong U.S. policy support for nuclear energy and uranium as a critical mineral.
Financial highlights
Cash cost per pound of uranium was $29.90 in Q1, with total cost per pound at $34.35, based on 68,612 pounds produced.
$234 million public offering completed to accelerate growth, fund UR&C, and strengthen liquidity.
Uranium inventory at 1,356,000 lbs U3O8 as of October 31, 2025, with an additional 300,000 lbs to be purchased at $37.05/lb.
No debt and maintained a 100% unhedged inventory position in a tightening market.
Net loss for the quarter was $10.34 million ($0.02 per share), with cash and cash equivalents at $454.72 million and working capital of $523.42 million.
Outlook and guidance
Expecting a step change in production cadence in fiscal Q3 and Q4 as Burke Hollow and new header houses at Christensen Ranch come online.
Feasibility study for UR&C targeted for completion by mid-2026, with modest capital requirements in the near term.
Strategic inventory buildup ahead of Section 232 decision and projected supply deficits.
Proceeds from recent financings to support U.S. uranium refining/conversion facility and project advancement.
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