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Ur-Energy (URG) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 10, 2026 · Ur-Energy (URG) Q2 2026 earnings results →
Q2 2026 Revenue up 38% year over year to $14.4M · 116¢ of every $1 of revenue lost · operating margin -128.3%
Ur-Energy made $14.4M in Q2 2026 (+38% Y/Y). Operating margin -128.3%, net loss $16.7M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 10, 2026.
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What changed this quarter
Revenue was $14.4M in Q2 2026, up 38% year over year and up 266% from the previous quarter.
Gross margin was 13.2%, down 5.4 points from Q2 2025. Operating costs exceeded revenue by $18.4M, an operating margin of -128.3%. Operating expenses grew 15% against revenue growth of 38%. The fastest-growing cost line was General & admin (+23%). The quarter ended with a net loss of $16.7M, narrower than the previous quarter's $28.8M loss.
Operating cash flow was −$12.0M. Non-cash charges added back $1.1M of depreciation and $582K of share-based compensation. Working capital and other items added $3.0M. Capital expenditures of $15.1M exceeded it, leaving free cash flow of −$27.1M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 10, 2026 | $14.4M | +38% | -128.3% | −$16.7M | −$12.0M |
| Q1 2026 | 10-Q | May 8, 2026 | $3.9M | — | -517.2% | −$28.8M | −$16.5M |
| Q4 2025 | 10-K | Mar 10, 2026 | $10.4M | -54% | -172.0% | −$15.6M | −$18.8M |
| Q3 2025 | 10-Q | Nov 3, 2025 | $6.3M | -1% | -313.3% | −$27.5M | −$15.0M |
| Q2 2025 | 10-Q | Aug 5, 2025 | $10.4M | +124% | -151.1% | −$21.0M | −$12.1M |
| Q4 2024 | 10-K | Apr 11, 2025 | $22.7M | +316% | -103.9% | −$86.3M | −$39.4M |
Charts
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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📈Investments: gains and what it boughtinteractive
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About Ur-Energy
Ur-Energy is the largest and fastest-growing ISR uranium mining company in the United States. It owns and operates the Lost Creek ISR uranium facility in south-central Wyoming, which has produced more than 3.5 million pounds of U₃O₈ since operations began, and the Shirley Basin ISR operation in central Wyoming, where uranium recovery commenced in April 2026. Lost Creek and Shirley Basin have combined annual licensed production and toll-processing capacity of 4.2 million pounds of U₃O₈. The Company is also engaged in exploration and development activities at a selection of highly prospective projects in the Great Divide Basin uranium district. Ur-Energy’s common shares trade on the NYSE American under the symbol “URG” and on the Toronto Stock Exchange under the symbol “URE.” The Company’s corporate headquarters is in Casper, Wyoming, and its registered office is in Ottawa, Ontario.
In its own words, from its 8-K, filed Aug 10, 2026.
Ur-Energy against its Gold and Silver Ores peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +38% against the peers' median +27%. Operating margin: -128.3% against the peers' median 38.5%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| URG Ur-Energy | Q2 2026 | $14.4M | +38% | -128.3% |
| NEM Newmont | Q3 2026 | $6.4B | +15% | 49.7% |
| B Barrick Mining | Q2 2025 | $3.7B | +16% | 38.5% |
| CDE Coeur Mining | Q3 2026 | $984M | +77% | 17.7% |
| WPM Wheaton Precious Metals | Q3 2026 | $772M | — | 66.2% |
| AG First Majestic Silver | Q3 2026 | $394M | — | 38.6% |
| FNV Franco Nevada | Q2 2025 | $369M | +42% | 82.8% |
| MUX McEwen | Q2 2026 | $59.2M | +27% | 13.0% |
| IAUX i-80 Gold | Q3 2026 | $32.7M | +2% | -132.4% |
Source: Ur-Energy 10-Q on SEC EDGAR · CIK 1375205 · Gold and Silver Ores
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More on URG
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q4 2024 results