Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR), a leading U.S.-based critical minerals company, reported its financial and operational results for the year ended Dec. 31, 2025, describing 2025 as a “breakout year” characterized by exceeding uranium production, mining, and sales guidance while lowering unit costs and advancing rare earth processing and vertical integration initiatives. The company ended the year with $927.4 million in working capital, including $797.1 million in marketable securities, and completed a $700 million convertible senior notes offering in October 2025.
Energy Fuels reported a net loss of $86.1 million, or $0.38 per share, compared with a net loss of $47.8 million, or $0.28 per share, in 2024, reflecting higher operating, exploration, and development costs and lower average uranium spot prices. Despite the net loss, the company's operational achievements in 2025 underscore its strengthened position in the nuclear fuel supply chain and its expansion into rare earth elements (REE) and other critical minerals. The company owns and operates several conventional and in-situ recovery uranium projects in the western United States and has been the leading U.S. producer of natural uranium concentrate for the past several years, sold to nuclear utilities for carbon-free nuclear energy.
Energy Fuels also owns the White Mesa Mill in Utah, the only fully licensed and operating conventional uranium processing facility in the United States. At the mill, the company produces advanced rare earth element products, vanadium oxide (when market conditions warrant), and is evaluating the potential recovery of certain medical isotopes from existing uranium process streams for emerging Targeted Alpha Therapy cancer treatments. Additionally, Energy Fuels is developing three heavy mineral sands projects: the Toliara Project in Madagascar, the Bahia Project in Brazil, and the Donald Project in Australia, where it has the right to earn up to a 49% interest in a joint venture with Astron Corporation Limited.
The company also announced a leadership transition, with President Ross Bhappu expected to succeed Mark Chalmers as president and CEO on April 15, 2026. Chalmers will retire and continue as a consultant for two years. This change comes as Energy Fuels positions itself for continued growth in uranium and rare earth markets.
For more details, the full press release is available at https://ibn.fm/ALTLl. Information about Energy Fuels can be found at http://www.energyfuels.com.
