Executive Summary
UEC reported a challenging QQ3 2024 quarter with a net loss of $19.68 million and EBITDA of negative $20.75 million, driven by negative operating performance and non-cash/non-operating items. Gross profit was negative by $0.551 million on $0.551 million of cost of revenue, while SG&A and other costs contributed to the operating loss of $13.84 million. The lack of reported revenue in the period limits top-line assessment, but the company showed a meaningful negative bottom line and a substantial cash burn at the operating level.
Despite the earnings weakness, UEC retains a robust liquidity position and a strong balance sheet. Cash and cash equivalents stood at $87.7 million at quarter-end, with a current ratio of 10.86 and a cash ratio of 6.13, reflecting ample liquidity to fund ongoing exploration and development activities. The quarterly cash flow analysis shows operating cash flow of negative $12.46 million, capital expenditures of $0.229 million, and free cash flow of negative $12.69 million. Financing activity contributed $29.01 million largely through common stock issuance, improving the equity cushion and funding runway. Net debt remained negative by $86.21 million, underscoring a conservative debt profile alongside significant non-cash asset bases (PPE and long-term investments).
The QQ3 2024 results highlight a earnings trajectory that contrasts with some peers in the broader uranium sector, where profitable quarters are more common, but the company’s substantial asset base and liquidity provide a platform for potential upside should uranium prices stabilize and production costs remain under control. In the absence of an earnings call transcript in the provided data, management commentary and qualitative guidance for the near term are not available within this document. Going forward, investors should monitor uranium price dynamics, production progress at UEC’s Texas ISR assets, and the company’s cost discipline and any potential asset monetizations.
Key Performance Indicators
QoQ: -477.14% | YoY:-297.27%
QoQ: -3 906.00% | YoY:-79.53%
QoQ: -3 578.57% | YoY:-66.78%
Key Insights
Revenue: Not disclosed in QQ3 2024 data (N/A).
Gross Profit: -$0.551 million; Gross Profit Margin: not reported; YoY change: -108.86%; QoQ change: +84.68%.
Operating Income: -$13.841 million; YoY change: -297.27%; QoQ change: -477.14%.
Net Income: -$19.677 million; YoY change: -79.53%; QoQ change: -3906.00%.
EPS: -$0.0487; YoY change: -66.78%; QoQ change: -3578.57%.
EBITDA: -$20.752 million.
Interest Expense: $0.205 million.
Depreciation & Amortization: $0.551 million.
Free Cash Flow: -$12.6...
Financial Highlights
Revenue: Not disclosed in QQ3 2024 data (N/A).
Gross Profit: -$0.551 million; Gross Profit Margin: not reported; YoY change: -108.86%; QoQ change: +84.68%.
Operating Income: -$13.841 million; YoY change: -297.27%; QoQ change: -477.14%.
Net Income: -$19.677 million; YoY change: -79.53%; QoQ change: -3906.00%.
EPS: -$0.0487; YoY change: -66.78%; QoQ change: -3578.57%.
EBITDA: -$20.752 million.
Interest Expense: $0.205 million.
Depreciation & Amortization: $0.551 million.
Free Cash Flow: -$12.69 million.
Net Cash Provided by Operating Activities: -$12.461 million.
Capital Expenditures: -$0.229 million.
Cash at End of Period: $87.726 million.
Total Assets: $878.268 million.
Total Liabilities: $99.628 million.
Total Stockholders’ Equity: $778.640 million.
Current Ratio: 10.86; Quick Ratio: 6.43; Cash Ratio: 6.13.
Days of Inventory Outstanding (as reported): 10,354; Inventory Turnover: 0.00869 (note: interpretive caution due to data formatting).
Interest Coverage: -67.52 (negative due to negative EBITDA).
Weighted Average Shares Outstanding: 404.104 million; EPS Diluted: -$0.0487.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Gross Profit |
-551.00K |
-108.86% |
84.68% |
| Operating Income |
-13.84M |
-297.27% |
-477.14% |
| Net Income |
-19.68M |
-79.53% |
-3 906.00% |
| EPS |
-0.05 |
-66.78% |
-3 578.57% |
Key Financial Ratios
operatingCashFlowPerShare
$-0.03
freeCashFlowPerShare
$-0.03
priceEarningsRatio
-34.66
Management Commentary
No earnings call transcript was provided in the data. Consequently, there are no management quotes or thematic highlights to excerpt or quote. If you can share the QQ3 2024 earnings call transcript, I can extract themes by strategy, operations, and market conditions with contextual analysis.
Forward Guidance
No explicit forward guidance is included in the QQ3 2024 data. Given the liquidity strength and modest capex, the company appears positioned to weather periods of weaker uranium pricing if it preserves cash and maintains cost discipline. Key near-term catalysts would include: (1) stabilization or uptick in uranium prices benefiting UEC’s Texas ISR assets (Palangana, Goliad, Burke Hollow, Longhorn, Salvo) and associated margins; (2) production progress and operating efficiencies at existing mines; (3) potential monetization or optimization of non-core assets or long-term investments to unlock value; (4) disciplined capital allocation that preserves liquidity without triggering equity dilution. Investors should monitor uranium market dynamics, contract pricing for UEC’s production, permitting and development progress for uranium projects, and any strategic moves on asset divestitures or partnerships. Achievability of strategic outcomes will depend on commodity price signals, regulatory developments in the U.S., and the company’s ability to convert asset bases into cash or higher-margin production.