Executive Summary
Executive overview: Uranium Energy Corp delivered Q1 2025 revenues of $17.09 million, generating gross profit of $6.25 million and a gross margin of 36.6%. However, the quarter recorded a significant operating loss of $13.20 million and a net loss of $20.16 million, with EBITDA of negative $21.24 million and an EBT/Net loss driven by operating costs and elevated other expenses. Despite the negative bottom-line, UEC ended the quarter with a robust liquidity position: ending cash and cash equivalents of $190.6 million and total cash at hand of $197.8 million, supported by financing activity that provided $62.0 million and common stock issued of $64.65 million. This enabled a net cash increase of $103.1 million for the period and a strong balance sheet with low current liabilities and substantial stockholders’ equity. The company’s US-focused uranium strategy remains a long-duration value driver, contingent on uranium price recovery, US domestic demand, and project execution costs.
Key takeaway for investors: (1) Near-term profitability remains challenged by high operating/other costs, (2) balance sheet strength and liquidity provide optionality for continued project advancement and working capital support, and (3) the primary driver of longer-term value will be uranium price cycles, US energy policy support, and successful execution of the Palangana and other Texas/Arizona asset pipeline, complemented by additional in-situ recovery opportunities.
Key Performance Indicators
QoQ: N/A | YoY:14 630.17%
QoQ: 157.17% | YoY:32 800.00%
QoQ: -33.36% | YoY:-995.91%
QoQ: -28.68% | YoY:-957.89%
Key Insights
Revenue: $17.09 million; YoY growth: 14,630.17%; QoQ not disclosed in the data provided (N/A).
Gross Profit: $6.251 million; Gross Margin: 36.58% (approximate; 0.3658).
Operating Income: $(13.203) million; Operating Margin: (77.27)%.
EBITDA: $(21.238) million; EBITDA Margin: (124.29)%; EBITDARatio: (1.243).
Net Income: $(20.158) million; Net Margin: (11.80)%.
EPS: $(0.0489) per basic share; Diluted EPS: $(0.0489).
Cash Flow: Operating cash flow $(11.452) million; Investing cash flow $(52.509) mi...
Financial Highlights
Revenue: $17.09 million; YoY growth: 14,630.17%; QoQ not disclosed in the data provided (N/A).
Gross Profit: $6.251 million; Gross Margin: 36.58% (approximate; 0.3658).
Operating Income: $(13.203) million; Operating Margin: (77.27)%.
EBITDA: $(21.238) million; EBITDA Margin: (124.29)%; EBITDARatio: (1.243).
Net Income: $(20.158) million; Net Margin: (11.80)%.
EPS: $(0.0489) per basic share; Diluted EPS: $(0.0489).
Cash Flow: Operating cash flow $(11.452) million; Investing cash flow $(52.509) million; Financing cash flow $62.010 million; Free Cash Flow $(12.671) million.
Cash Position: End of period cash and equivalents $190.596 million; Total cash across period $197.847 million.
Balance Sheet: Total assets $917.798 million; Total liabilities $93.780 million; Total stockholders’ equity $824.018 million; Retained earnings $(339.059) million; Deferred tax liabilities (non-current) $62.744 million; Inventory $66.075 million; Current assets $261.197 million; Current liabilities $12.703 million.
Liquidity/Leverage: Current ratio 20.56; Quick ratio 15.36; Cash ratio 15.00; Net debt negative $(190.596) million.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
17.09M |
14 630.17% |
N/A |
| Gross Profit |
6.25M |
32 800.00% |
157.17% |
| Operating Income |
-13.20M |
-8.94% |
30.72% |
| Net Income |
-20.16M |
-995.91% |
-33.36% |
| EPS |
-0.05 |
-957.89% |
-28.68% |
Key Financial Ratios
operatingProfitMargin
-77.3%
operatingCashFlowPerShare
$-0.03
freeCashFlowPerShare
$-0.03
priceEarningsRatio
-37.93
Management Commentary
Note: The earningsTranscript array is empty in the provided data. As a result, there are no direct management quotes or call highlights to extract from the QQ1 2025 earnings call. The analysis below is anchored to reported results and publicly available information; if a transcript becomes available, quotes and management commentary can be integrated into the transcriptHighlights and transcriptQuotes sections.
Forward Guidance
Forward-looking assessment is constrained by the absence of explicit quarterly guidance in the provided data. Based on the QQ1 2025 results and the industry context for domestic uranium supply, potential catalysts include: (1) uranium price stabilization or uplift driven by US energy policy and utility demand; (2) successful progression of Texas and Arizona in-situ recovery projects and potential resource expansions; (3) capital structure flexibility via equity financing to fund development without a heavy debt burden. Management commentary (if available) would be critical to refine probabilistic outcomes and confirm any targets for production ramps, capex plans, and cost-containment measures. Investors should monitor uranium price trajectories, US policy developments on domestic uranium supply, and the company’s progression on permitting, synthesis of ore feed, and plant optimization to achieve improved margins.