Filing Flows › enCore Energy (EU) › Q1 2025
enCore Energy (EU) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 12, 2025
enCore Energy (EU) reported revenue of $18.2M for the first quarter 2025 (Q1 2025), -40% from a year earlier and +36% from the quarter before. Operating margin was -85.7%, net loss $25.4M (139.2% of revenue).
enCore Energy, Q1 2025: revenue $18.2M (-40% year over year), operating margin -85.7%, net loss $25.4M, operating cash flow −$7.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $18.2M | +36% | -40% |
| Operating profit | −$15.6M | — | — |
| Net earnings | −$25.4M | — | — |
| Operating cash flow | −$7.7M | -2099% | — |
What changed
Revenue was $18.2M in Q1 2025, down 40% year over year and up 36% from the previous quarter.
Operating costs exceeded revenue by $15.6M, an operating margin of -85.7%. Total costs fell 21% while revenue fell 40%. The fastest-growing cost line was General & admin (+46%). The quarter ended with a net loss of $25.4M, wider than the previous quarter's $19.1M loss. Minority interests bore $1.1M of it: to shareholders the quarter was a loss of $24.2M.
Operating cash flow was −$7.7M. Non-cash charges added back $2.2M of depreciation and amortization and $878K of share-based compensation. Working capital and other items added $14.6M. Capital expenditures of $4.0M exceeded it, leaving free cash flow of −$11.7M.
Questions
What was enCore Energy's revenue in the first quarter 2025?
enCore Energy (EU) reported revenue of $18.2M for the first quarter 2025 (Q1 2025), -40% from a year earlier and +36% from the quarter before.
Was enCore Energy profitable in the first quarter 2025?
Operating loss was $15.6M (-85.7% of revenue) and net loss $25.4M.
Source: enCore Energy 10-Q on SEC EDGAR.