Uranium Energy Corp (NYSE: UEC) reported fiscal Q2 2026 revenue of $20.2 million, down from $49.8 million a year earlier, while cost of sales fell to $10.2 million from $31.5 million.
Below the topline, spending ramped as mineral property expenditures rose to $23.7 million from $14.2 million, general and administrative expense increased to $8.2 million from $6.6 million, and depreciation, amortization and accretion climbed to $1.7 million from $1.0 million.
That drove losses from operations to $23.6 million compared with $3.6 million a year earlier. Thanks to a further fair value gain on equity securities of $4.1 million versus a $8.0 million loss last year, this led for a wider net loss of $13.9 million from $10.2 million.
Net cash used in operating activities ended at $72.4 million versus $20.3 million used a year earlier. Cash, cash equivalents and restricted cash ended at $494.0 million, up from $70.7 million a year earlier.
On production, UEC produced 45,743 pounds of uranium concentrate during the quarter at $44.14 total cost per pound and $39.66 cash cost per pound using only two active header houses at Christensen Ranch. Since commissioning, total cost per pound has averaged $37.28 and cash cost per pound $30.52 across 244,321 pounds, which the company used to underline operating efficiency.
The firm sold 200,000 pounds of U3O8 from its physical portfolio at $101 per pound, above the quarter’s average uranium spot price of $80.76 per pound.
The company said it is building what it describes as “America’s only vertically integrated uranium fuel supply chain” from mining to refining and conversion. It also tied its positioning to US uranium policy tailwinds, including the Presidential Proclamation launching a Section 232 critical minerals investigation.
Uranium Energy Corp last traded at $14.77 on the NYSE.
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