Filing Flows › enCore Energy (EU) › Q1 2026
enCore Energy (EU) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 14, 2026
enCore Energy (EU) reported revenue of $18.3M for the first quarter 2026 (Q1 2026), +0.3% from a year earlier and +48% from the quarter before. Operating margin was 54.4%, net earnings $5.4M (29.5% of revenue).
enCore Energy, Q1 2026: revenue $18.3M (+0.3% year over year), operating margin 54.4%, net earnings $5.4M, operating cash flow −$21.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $18.3M | +48% | +0.3% |
| Operating profit | $10.0M | — | — |
| Net earnings | $5.4M | — | — |
| Operating cash flow | −$21.4M | -266% | — |
What changed
Revenue was $18.3M in Q1 2026, roughly flat year over year and up 48% from the previous quarter.
Operating profit was $10.0M, a 54.4% margin (up 140.1 points year over year). Total costs fell 75% while revenue was flat. Net earnings were $5.4M ($2.5M including minority interests, which bore $2.9M of losses). The effective tax rate was -8.3%.
Operating cash flow was −$21.4M. Non-cash charges added back $1.2M of depreciation and amortization and $2.4M of share-based compensation. Working capital and other items used $27.5M.
Questions
What was enCore Energy's revenue in the first quarter 2026?
enCore Energy (EU) reported revenue of $18.3M for the first quarter 2026 (Q1 2026), +0.3% from a year earlier and +48% from the quarter before.
Was enCore Energy profitable in the first quarter 2026?
Operating profit was $10.0M (54.4% of revenue) and net earnings $5.4M.
Source: enCore Energy 10-Q on SEC EDGAR.