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Uranium Energy Corp. (UEC+1.60%) has submitted its 10-Q filing for the quarterly period ended January 31, 2025.
The filing reports a net loss of $10.23 million for the quarter, compared to net income of $2.25 million in the same quarter of the previous year. The loss is primarily attributed to increased operating costs and a fair value loss on equity securities.
Revenue for the quarter was $49.75 million, generated from sales of purchased uranium inventory. This is a significant increase from $0.12 million in the same quarter the previous year, which was primarily from toll processing services.
Operating costs for the quarter were $21.86 million, up from $12.14 million in the previous year. This increase is due to higher mineral property expenditures and general and administrative expenses.
The company reported a gross profit of $18.23 million for the quarter, compared to $0.02 million in the previous year. The improvement is due to increased sales of purchased uranium inventory.
Uranium Energy Corp. continues to focus on its uranium mining operations, with activities in the United States, Canada, and Paraguay. The company is advancing its Roughrider and Burke Hollow Projects with resource expansions and development programs.
The company has completed the acquisition of Sweetwater Uranium Inc. and Wyoming Coal Resources Company, expanding its operations in Wyoming.
Uranium Energy Corp. holds mineral rights in several U.S. states, Canada, and Paraguay, with annual maintenance payments required to maintain these rights.
The company acknowledges its reliance on equity financings and cash flow from uranium sales to fund operations, with future capital expenditures expected to be substantial.
Uranium Energy Corp. is investing in its Physical Uranium Program to support its operations and strategic objectives, with a focus on building a portfolio of low-cost uranium projects.
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 March 12, 2025. To report an error, please email earnings@qz.com.