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Uranium Energy Corp. (UEC+2.99%) has submitted its 10-Q filing for the quarterly period ended October 31, 2024.
The filing includes financial statements for the quarter, showing revenue of $17.09 million from sales of purchased uranium inventory. Gross profit for the quarter was $6.25 million.
Net loss for the quarter was $20.16 million, or $0.05 per share, compared to a net income of $3.32 million in the same quarter of the previous year.
The company restarted uranium extraction at its Christensen Ranch Mine in Wyoming in August 2024, with ramp-up expected to continue into early 2025.
Uranium Energy Corp. reported total assets of $917.8 million as of October 31, 2024, with cash and cash equivalents of $190.6 million.
The company has a working capital of $248.49 million and reported total liabilities of $93.78 million.
During the quarter, the company issued 7,595,626 shares of common stock under its ATM Offering for net proceeds of $64.65 million.
Uranium Energy Corp. continues to focus on its Physical Uranium Program, holding 1,256,000 pounds of uranium and committed to purchasing an additional 700,000 pounds by Fiscal 2026.
The company is engaged in uranium mining and related activities in the United States, Canada, and Paraguay, with ongoing exploration and development programs.
Uranium Energy Corp. holds mineral rights in several U.S. states and internationally, with commitments to maintain these rights through annual payments.
The filing outlines various risks, including dependence on financing, regulatory compliance, and market volatility, which could impact future operations and financial performance.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Uranium Energy Corp. quarterly 10-Q report dated December 5, 2024. To report an error, please email earnings@qz.com.