Quarterly ResultMay 8, 2026, 06:14 AM
Ur-Energy Q1 Sales $3.93M; Shirley Basin Operations Begin
AI Summary
Ur-Energy Inc. reported Q1 2026 sales of $3.93 million, a significant increase from no sales in the prior year, and achieved a gross profit of $1.24 million. However, the company's net loss widened to $28.78 million, or $(0.07) per share, compared to a net loss of $10.90 million in Q1 2025. Operationally, Ur-Energy commenced uranium mining operations at its Shirley Basin Project in April 2026 and secured $28.73 million from the exercise of warrants and stock options.
Key Highlights
- Commenced uranium mining operations at Shirley Basin Project in April 2026.
- Q1 2026 Sales: $3.93 million, up from $0 in Q1 2025.
- Q1 2026 Gross Profit: $1.24 million, compared to a $2.60 million loss in Q1 2025.
- Q1 2026 Net Loss: $28.78 million, widened from $10.90 million in Q1 2025.
- Q1 2026 Basic EPS: $(0.07), compared to $(0.03) in Q1 2025.
- Net cash from financing activities: $28.37 million, mainly from warrant and option exercises.
- Issued $120.0 million aggregate principal amount of Convertible Senior Notes in December 2025.
- Net cash used in operating activities: $(16.49) million, versus $2.81 million provided in Q1 2025.