Uranium Energy Revenue Plunges 70% to $20.2M in Q2 FY2026

Uranium Energy Corp (NYSE American: UEC), a uranium mining and production company, reported revenue of $20.2 million for the three months ending January 31, 2026, a 59% decline from $49.8 million in the same quarter a year earlier. For the six months ending January 31, 2026, revenue totaled $20.2 million, down 70% from $66.8 million in the prior-year period. Read more earnings reports.

The company posted a net loss of $13.9 million for the quarter, compared to a net loss of $10.2 million in Q2 FY2025. For the six-month period, the net loss widened to $24.3 million from $30.4 million a year earlier. Diluted loss per share was $0.03 for the quarter versus $0.02 in the prior-year period.

Operating Performance Deteriorates

Operating loss for the three months ending January 31, 2026 totaled $23.6 million, compared to an operating loss of $3.6 million in the same quarter last year. For the six-month period, the operating loss expanded to $53.4 million from $16.8 million a year earlier.

Cost of revenue for the quarter came in at $10.2 million, down from $31.5 million in Q2 FY2025. Gross profit for the quarter was $10.0 million, a 45% drop from $18.2 million in the prior-year period. Operating expenses surged 54% to $33.6 million from $21.9 million year-over-year.

Cash Position Strengthens Despite Losses

Cash and cash equivalents stood at $486.3 million as of January 31, 2026, up 227% from $148.9 million at fiscal year-end July 31, 2025. Total assets increased to $1.53 billion from $1.11 billion over the same period.

Cash used in operations for the six months ending January 31, 2026 totaled $72.4 million, compared to $20.3 million used in the prior-year period. Cash from financing activities contributed $445.8 million during the period, versus $132.7 million a year earlier. Cash used in investing activities was $37.5 million, down from $136.4 million in the prior-year period.

Total stockholders' equity rose to $1.41 billion as of January 31, 2026, from $983.9 million at the end of fiscal year 2025. Common shares outstanding increased to 489.3 million from 454.0 million over the same period.

Balance Sheet Details

Inventory as of January 31, 2026 was $84.7 million, up from $79.3 million at fiscal year-end. Accounts receivable totaled $20.2 million, compared to zero at July 31, 2025. Property, plant and equipment stood at $68.3 million, versus $67.5 million at the end of the prior fiscal year.

Total liabilities decreased to $119.7 million from $123.8 million at fiscal year-end. Current liabilities dropped to $20.8 million from $26.4 million over the same period. Interest expense for the quarter was $500,000, up from $289,000 a year earlier.