Energy Fuels Records $0.35 Million In Revenue, $10.9 Million Net Loss For Q1 2021

Energy Fuels Inc. (TSX: EFR) released last night its Q1 2021 financial results, which saw the company post $0.35 million in revenue. This is a decline from Q1 2020’s revenue of US$0.39 million.

The company also recorded a US$10.9 million net loss for the quarter, a decrease from last year’s net loss of $5.7 million. This quarter’s net loss translates to a $0.08 loss per share. 

Energy Fuels attributes this loss to $3.5 million in warrant liabilities following an increase in share price during Q1 and a $2.7 million increase in development expenditures on the company’s rare earth element carbonate production program at the White Mesa mill.

The company ended the quarter with $44.1 million in cash and marketable securities and $28.0 million of inventory, including 690,800 pounds of uranium and 1,672,000 pounds of high-purity vanadium.

Energy Fuels Inc. last traded at $6.41 on the TSX.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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