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Energy Fuels (UUUU) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · Energy Fuels (UUUU) Q3 2026 earnings results →

Q3 2026 Revenue up 65% year over year to $29.2M · 179¢ of every $1 of revenue lost · operating margin -86.7%

Energy Fuels made $29.2M in Q3 2026 (+65% Y/Y). Operating margin -86.7%, net loss $52.4M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.

Revenue$29.2M
Year over year+65%
Operating margin-86.7%
Net earnings−$52.4M
Operating cash flow−$20.7M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $29.2M in Q3 2026, up 65% year over year and up 16% from the previous quarter.

Operating costs exceeded revenue by $25.3M, an operating margin of -86.7%. Total costs grew 23% against revenue growth of 65%. The fastest-growing cost line was Other operating costs (+56%). The quarter ended with a net loss of $52.4M, wider than the previous quarter's $33.6M loss. Minority interests bore $164K of it: to shareholders the quarter was a loss of $52.2M. Net interest and other expense of $27.5M was the main reason.

Operating cash flow was −$20.7M. Non-cash charges added back $2.2M of depreciation and amortization and $3.6M of share-based compensation. Working capital and other items added $25.9M. Capital expenditures of $7.7M exceeded it, leaving free cash flow of −$28.4M.

Quarterly history

Energy Fuels revenue by quarterEnergy Fuels revenue by quarter$16.9MQ1 2025$4.2MQ2 2025$17.7MQ3 2025$27.1MQ4 2025$35.8MQ1 2026$25.1MQ2 2026$29.2MQ3 2026
Energy Fuels net earnings by quarterEnergy Fuels net earnings by quarter−$26.3MQ1 2025−$21.8MQ2 2025−$17.0MQ3 2025−$20.9MQ4 2025−$11.0MQ1 2026−$33.6MQ2 2026−$52.4MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 4, 2026$29.2M+65%-86.7%−$52.4M−$20.7M
Q2 202610-QAug 5, 2026$25.1M+496%-121.8%−$33.6M−$26.1M
Q1 202610-QMay 6, 2026$35.8M+112%-47.2%−$11.0M$8.3M
Q4 202510-KFeb 26, 2026$27.1M-32%-81.6%−$20.9M−$16.2M
Q3 202510-QNov 3, 2025$17.7M+338%-150.6%−$17.0M−$28.5M
Q2 202510-QAug 6, 2025$4.2M-52%-621.4%−$21.8M−$25.9M
Q1 202510-QMay 7, 2025$16.9M-34%-155.0%−$26.3M−$18.8M

Charts

Energy Fuels: revenue growth, year over year and quarter over quarterEnergy Fuels: revenue growth, year over year and quarter over quarterY/YQ/Q-34%Q1 2025-52%-75%Q2 2025+338%+320%Q3 2025-32%+53%Q4 2025+112%+32%Q1 2026+400%-30%Q2 2026+65%+16%Q3 2026
Latest (Q3 2026): Y/Y +65%, Q/Q +16%.
Energy Fuels: where the cash came from (+) and went (−), TTM to Q3 2026Energy Fuels: where the cash came from (+) and went (−), TTM to Q3 2026Other financing$805MOther investing−$771MOperating cash flow−$54.7MCash drawn (+) / kept (−)$17.2MShares issued$3.6MPartners$404KExchange rates−$47K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Energy Fuels: profit against cash, quarter by quarterEnergy Fuels: profit against cash, quarter by quarterNet incomeOperating cash flow−$33.0M−$36.0MQ4 2024−$26.3M−$18.8MQ1 2025−$21.8M−$25.9MQ2 2025−$17.0M−$28.5MQ3 2025−$20.9M−$16.2MQ4 2025−$11.0M$8.3MQ1 2026−$33.6M−$26.1MQ2 2026−$52.4M−$20.7MQ3 2026
Latest (Q3 2026): Net income −$52.4M, Operating cash flow −$20.7M.
Energy Fuels: diluted shares by fiscal yearEnergy Fuels: diluted shares by fiscal year121MFY2020150MFY2021157MFY2022160MFY2023172MFY2024225MFY2025
+85.5% since FY2020: more shares outstanding (issuance, stock pay).
Energy Fuels in its industry: growth against margin (14 companies, SIC 1400)Energy Fuels in its industry: growth against margin (14 companies, SIC 1400)revenue growth, year over year →↑ operating marginmedian +25%median 5%MLMVMCKNFHLCMPSNDUSLMLEUIPILOGCABATIBATFATLXUUUU (+65%, -87%)
Mining & Quarrying of Nonmetallic Minerals (No Fuels); dot size is quarterly revenue; dashed lines are the industry's medians.

In supply chains and themes

Nuclear & uranium money flowNuclear & uranium · Uranium & enrichment

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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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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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Energy Fuels

Energy Fuels Inc. and its subsidiary companies (collectively, the “ Company ”, “ Energy Fuels ” or “ our ”) produce several of the critical materials essential to United States (“ U.S. ”) energy security and other advanced technologies, including uranium, vanadium, rare earth elements (“ REEs ”) and heavy mineral sands (“ HMS ”), in an effort to strengthen domestic supply chains and reduce reliance on foreign‑controlled sources. The White Mesa Mill (the “ White Mesa Mill ” or the “ Mill ”), located in Utah, is a key asset to strengthen domestic supply chains due to its ability to process uranium, vanadium, REE products, and, potentially, radioisotopes.

In its own words, from its 10-Q, filed Aug 5, 2026.

Energy Fuels against its Mining & Quarrying of Nonmetallic Minerals (No Fuels) peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +65% against the peers' median +6%. Operating margin: -86.7% against the peers' median 16.8%.

CompanyQuarterRevenueY/YOp. margin
UUUU Energy FuelsQ3 2026$29.2M+65%-86.7%
MLM Martin Marietta MaterialsQ3 2026$2.4B+28%18.5%
VMC Vulcan MaterialsQ3 2026$2.2B-5%24.0%
KNF Knife RiverQ3 2026$1.3B+6%16.8%
HL Hecla MiningQ3 2026$395M+25%39.8%
CMP Compass Minerals InternationalQ3 FY26$215M+0.3%5.1%
SND Smart SandQ2 2026$115M+34%8.7%
USLM United States Lime & MineralsQ3 2026$106M+4%42.1%
LEU Centrus EnergyQ3 2026$55.5M-26%-53.5%

Source: Energy Fuels 10-Q on SEC EDGAR · CIK 1385849 · Mining & Quarrying of Nonmetallic Minerals (No Fuels)

Guidance and outlook

Energy Fuels: what its forward-looking statements are about (10-Q filed 2026-11-04)Energy Fuels: what its forward-looking statements are about (10-Q filed 2026-11-04)Other23Supply chain14Demand6Deals5Capital spending3Legal & regulation3The economy3Costs2Margins1
60 statements; tone +0.28 (−1 all cautious, +1 all confident); 20 hedged.
Energy Fuels: outlook statements against the filing beforeEnergy Fuels: outlook statements against the filing beforeConfident17

13F: who owns UUUU and who is buying

Largest holders of UUUU (13F)Largest holders of UUUU (13F)Van ECK Associates$283MMirae Asset Global ETFS Holdings$249MBlackRock$227MVanguard Group$217MVanguard Capital Management LLC$216MAlps Advisors$141MMorgan Stanley$128MPrice T Rowe Associates$127MAmeriprise Financial$125MVanguard Portfolio Management LLC$93.0M
Funds' net buying of UUUU by quarter (13F)Funds' net buying of UUUU by quarter (13F)−$892K2024-09−$3.6M2024-12$54.4M2025-03$92.2M2025-06$252M2025-09$18.5M2025-12$206M2026-03$190M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on UUUU

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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中文版：Energy Fuels（UUUU）财报

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