Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) reported its financial and operational results for the year ended December 31, 2025, describing the period as a "breakout year" marked by exceeded 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 highlighted significant operational achievements, including exceeding its 2025 uranium production and sales guidance while reducing unit production costs. The company also made strides in its rare earth element (REE) processing capabilities at the White Mesa Mill in Utah, which is the only fully licensed and operating conventional uranium processing facility in the United States.
Energy Fuels is a leading US-based critical minerals company focused on uranium, rare earth elements, heavy mineral sands, vanadium, and medical isotopes. 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. At the White Mesa Mill, Energy Fuels also produces advanced REE 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.
The company is also developing three additional heavy mineral sands projects: the Toliara Project in Madagascar; the Bahia Project in Brazil; and the Donald Project in Australia, in which Energy Fuels has the right to earn up to a 49% interest in a joint venture with Astron Corporation Limited. Energy Fuels is based in Lakewood, Colorado, near Denver.
In a significant leadership transition, the company announced that President Ross Bhappu is expected to succeed Mark Chalmers as president and CEO on April 15, 2026, with Chalmers retiring and continuing as a consultant for two years. The change in leadership comes as Energy Fuels continues to expand its critical minerals portfolio and pursue vertical integration in the rare earth supply chain.
For more information on all Energy Fuels does, please visit http://www.energyfuels.com. The latest news and updates relating to UUUU are available in the company’s newsroom at http://ibn.fm/UUUU.
