Energy Fuels Inc. (TSX: EFR) released this morning its Q3 2021 financial results, which saw the company post US$0.72 million in revenue. This is an increase from Q3 2020’s revenue of US$0.49 million.
But the firm incurred costs and expenses related to sales amounting to US$0.73 million, marginally higher than the revenue. With operating expenses amounting to US$8.37 million, the firm ended with a US$7.96 million net loss for the quarter. The quarterly loss translates to US$0.05 per share.
The firm still attributes the net loss due to “increased development expenditures” related to the rare earth element carbonate production program at the White Mesa mill. It also recorded a net loss last year amounting to US$8.94 million.
The company ended the quarter with US$120.53 million in cash, cash equivalents, and restricted cash, starting from a balance of US$40.99 million at the beginning of the year. This puts current assets at US$136.37 million while current liabilities came in at US$3.58 million.
The firm also holds inventory worth US$29.3 million at the end of the quarter, with a market value of US$46.9 million at current prices.
Energy Fuels Inc. last traded at $9.76 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.