Earnings Releases·Nov 12, 2026, 8:09 AM ET

enCore Energy — Third Quarter 2026 Earnings Summary

Q3 2026 revenue rose 88% YoY to $16.7 million on 200,000 lbs U₃O₈ deliveries, but the company reported a $33.9 million net loss ($0.17/share) driven by a $17.0 million realized loss on the Verdera Energy distribution and higher purchased uranium costs ($87.22/lb vs. $68.28/lb sales price).
Nine-month revenue increased to $50.7 million, yet operating cash flow usage widened to $47.4 million and gross margin turned negative (-$0.8 million) due to a 560,000-pound purchased uranium volume within total 685,000-pound sales.
Future extraction timelines remain constrained by South Texas permitting delays; Alta Mesa Wellfield 3 Extension and Upper Spring Creek are expected to commence before year-end 2026, with Wellfield 8 targeted for early 2027.
Management executed a 20% workforce reduction in July 2026 and reduced rig activity to align spending with regulatory timelines, while maintaining $5.1 million in unrestricted cash and $33.6 million in marketable securities.