Filing Flows › Perma FIX Environmental Services (PESI) › Q3 2025
Perma FIX Environmental Services (PESI) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 10, 2025
Perma FIX Environmental Services (PESI) reported revenue of $17.5M for the third quarter 2025 (Q3 2025), +4% from a year earlier and +20% from the quarter before. Operating margin was -10.7%, net loss $1.8M (10.5% of revenue).
Perma FIX Environmental Services, Q3 2025: revenue $17.5M (+4% year over year), operating margin -10.7%, net loss $1.8M, operating cash flow −$4.6M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $17.5M | +20% | +4% |
| Operating profit | −$1.9M | — | — |
| Net earnings | −$1.8M | — | — |
| Operating cash flow | −$4.6M | — | — |
What changed
Revenue was $17.5M in Q3 2025, up 4% year over year and up 20% from the previous quarter. Treatment was the largest line at 75% of revenue. Treatment added $4.0M year over year (up 45%), 631% of the total change. Services declined 44%.
Gross margin was 14.6%, up 6.7 points from a year earlier. Operating costs exceeded revenue by $1.9M, an operating margin of -10.7%. Operating expenses grew 13% against revenue growth of 4%. The fastest-growing cost line was Research & development (+13%). The quarter ended with a net loss of $1.8M, narrower than the previous quarter's $2.7M loss.
Operating cash flow was −$4.6M. Non-cash charges added back $426K of depreciation and amortization and $215K of share-based compensation. Working capital and other items used $3.4M. Capital expenditures of $1.2M exceeded it, leaving free cash flow of −$5.8M.
Questions
What was Perma FIX Environmental Services' revenue in the third quarter 2025?
Perma FIX Environmental Services (PESI) reported revenue of $17.5M for the third quarter 2025 (Q3 2025), +4% from a year earlier and +20% from the quarter before.
Was Perma FIX Environmental Services profitable in the third quarter 2025?
Operating loss was $1.9M (-10.7% of revenue) and net loss $1.8M.