The company continues to report zero revenue while sustaining significant overhead, evidenced by a $24.6 million operating loss in 2026Q1.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 |
|---|
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 12.24K | 0 |
| Revenue Growth % | - | - | - | - | - | - | - | - | - | - | - | - | -100% | - | - |
| Cost of Goods Sold | 992.64K | 2.2M | 0 | 0 | 0 | 0 | 1.79M | 1.84M | 1.53M | 758.06K | 626.96K | 246.13K | 0 | 12.24K | 0 |
| COGS % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | 100% | - |
| Gross Profit | -992.64K | -2.2M | 0 | 0 | 0 | 0 | -1.79M | -1.84M | -1.53M | -758K | -627K | -246K | 0 | 0 | 0 |
| Gross Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Gross Profit Growth % | - | - | - | - | - | 100% | 2.56% | -19.8% | -102.37% | -20.89% | -154.88% | - | - | - | - |
| Operating Expenses | 96.62M | 87.56M | 75.99M | 84.73M | 59.78M | 51.17M | 16.75M | 17.89M | -1.18M | 56.86M | 17.46M | 5.15M | 3.51M | 3.53M | 236.67K |
| OpEx % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | 28824.63% | - |
| Selling, General & Admin | 96.09M | 87.56M | 75.99M | 82.93M | 57.97M | 49.05M | 16.75M | 17.89M | 24.41M | 17.05M | 13.85M | 4.9M | 3.37M | 3.52M | 181.9K |
| SG&A % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | 28726.62% | - |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 530K | 0 | 0 | 1.8M | 1.81M | 2.13M | 0 | 0 | -25.6M | -27.52M | 3.53M | 212.14K | 160.36K | 0 | 54.76K |
| Operating Income | -97.61M | -89.76M | -75.99M | -84.73M | -59.78M | -51.17M | -18.54M | -19.73M | 1.18M | -46.83M | -17.46M | -5.24M | -3.37M | -3.52M | -237K |
| Operating Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | -28726.62% | - |
| Operating Income Growth % | - | -18.13% | 10.33% | -41.74% | -16.81% | -176.06% | 6.05% | -1769.25% | 102.52% | -168.29% | -233.26% | -55.38% | 4.15% | -1383.97% | - |
| EBITDA | -95.53M | -87.56M | -74.52M | -82.93M | -57.97M | -49.05M | -16.75M | -17.89M | 2.54M | -46.1M | -15.95M | -4.99M | -3.24M | -3.5M | -237K |
| EBITDA Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | -28571.34% | - |
| EBITDA Growth % | -27.86% | -17.5% | 10.14% | -43.07% | -18.18% | -192.89% | 6.4% | -805.83% | 105.5% | -189.12% | -219.42% | -54.26% | 7.49% | -1375.94% | - |
| D&A (Non-Cash Add-back) | 2.08M | 2.2M | 1.46M | 1.8M | 1.81M | 2.13M | 1.79M | 1.84M | 1.35M | 731.45K | 1.51M | 246.13K | 135K | 19.01K | 0 |
| EBIT | -249.55M | -89.76M | -78.24M | 75.01M | -58.92M | -121.83M | -78.62M | -2.77M | -25.95M | -17.89M | -15.54M | -5.15M | -8.68M | -3.54M | 0 |
| Net Interest Income | -27.85M | -28.89M | -10.88M | -221K | 401K | -3.08M | -13.21M | -10.21M | -9.47M | -7.39M | -3.02M | 0 | 0 | 0 | 0 |
| Interest Income | 18.49M | 17.8M | 21.73M | 6.03M | 2.79M | 910K | 410.5K | 1.82M | 2.49M | 1.31M | 466.5K | 193.34K | 124.76K | 29.57K | 23.56K |
| Interest Expense | 46.34M | 46.69M | 32.61M | 6.25M | 2.39M | 3.99M | 13.63M | 12.03M | 11.95M | 8.69M | 3.49M | 0 | 0 | 0 | 0 |
| Other Income/Expense | -314.39M | -205.56M | -6.14M | 153.49M | -1.53M | -74.65M | -70.78M | 7.69M | 0 | -10.03M | 214.25K | 591.15K | -5M | 142.78K | 26 |
| Pretax Income | -412M | -295.33M | -82.13M | 68.76M | -61.31M | -125.83M | -89.32M | -12.04M | 1.18M | -56.86M | -17.24M | -4.65M | -8.37M | -3.37M | -237K |
| Pretax Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | -27558.6% | - |
| Income Tax | 3.14M | 14.1M | -4.57M | -1.41M | -1.04M | 1.12M | 551.28K | 718.94K | -309K | -33.31K | 290.03K | 0 | 0 | 0 | -557 |
| Effective Tax Rate % | -0.76% | -4.77% | 5.56% | -2.05% | 1.7% | -0.89% | -0.62% | -5.97% | -26.14% | 0.06% | -1.68% | 0% | 0% | 0% | 0.24% |
| Net Income | -415.14M | -309.42M | -77.56M | 80.82M | -56.59M | -119.09M | -86.21M | -11.98M | 2.27M | -56.04M | -16.89M | -4.65M | -8.37M | -3.37M | -237K |
| Net Margin % | - | - | - | - | - | - | - | - | - | - | - | - | - | -27558.6% | - |
| Net Income Growth % | -342.23% | -298.95% | -195.97% | 242.82% | 52.48% | -38.14% | -619.74% | -627.65% | 104.05% | -231.72% | -263.52% | 44.5% | -148.16% | -1323.63% | - |
| Net Income (Continuing) | -415.14M | -309.42M | -77.56M | 70.17M | -60.27M | -126.95M | -89.87M | -12.76M | 1.49M | -56.83M | -17.53M | -4.65M | -8.37M | -3.37M | -237K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 37.54M | 27.74M | 25M | 24.51M | 16.63M | 12.02M | 9.01M | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.63 | -0.52 | -0.14 | 0.15 | -0.12 | -0.26 | -0.30 | -0.04 | 0.01 | -0.17 | -0.06 | -0.02 | -0.06 | -0.03 | -0.06 |
| EPS Growth % | -326.45% | -271.43% | -193.33% | 225% | 53.85% | 13.33% | -629.93% | - | 103.41% | -201.95% | -181.5% | 66.5% | -71.55% | 37.18% | - |
| EPS (Basic) | - | -0.52 | -0.14 | 0.16 | -0.12 | -0.26 | -0.30 | -0.05 | 0.01 | -0.17 | -0.06 | -0.02 | -0.06 | -0.03 | -0.06 |
| Diluted Shares Outstanding | 660.74M | 588.4M | 554.75M | 529.21M | 479.68M | 459.29M | 370.53M | 402.68M | 393.95M | 321.92M | 300.3M | 232.52M | 140.19M | 96.88M | 4.27M |
| Basic Shares Outstanding | 660.74M | 588.4M | 553.99M | 505.1M | 471.56M | 459.29M | 366.09M | 354.59M | 393.95M | 321.92M | 300.3M | 232.52M | 140.19M | 96.88M | 4.27M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Capital intensive project execution
As indicated by the latest quarterly financial statements, NexGen Energy continues to report zero revenue while sustaining significant SG&A outlays, which reached $24.2 million in 2026Q1, reflecting the ongoing, capital-heavy nature of the Rook I project's pre-production development and regulatory compliance phase.
The company's cost structure is dominated by administrative and exploration-related expenses, which are necessary to advance the project toward a final investment decision. Investors should note that the absence of revenue means these costs directly erode the company's cash position, necessitating careful monitoring of burn rates as the project approaches construction.
Based on reported figures, NexGen's net income exhibits extreme volatility, swinging from a $158.9 million profit in 2023Q4 to a $156.4 million loss in 2026Q1, which suggests that bottom-line results are heavily influenced by non-operating items rather than core operational performance.
The lack of consistent profitability is expected for a pre-revenue developer, but the wide swings in net income warrant caution for those using EPS as a valuation metric. These fluctuations likely stem from revaluations of financial instruments or tax adjustments, which do not reflect the underlying progress of the Rook I asset.
According to the provided income statement data, NexGen's operating income remains consistently negative, with a $24.6 million loss in 2026Q1, demonstrating that the company has yet to achieve the scale required to offset its fixed overhead through operational efficiency.
Because the company is not yet producing uranium, traditional operating leverage metrics are not applicable. The current focus must remain on the efficiency of capital deployment toward project milestones rather than the scaling of operating income, which remains a future objective.
Financial filings reveal that the company has utilized significant stock-based compensation, including $11.1 million in 2025Q3, which may indicate a reliance on equity-linked incentives that could lead to further shareholder dilution as the company seeks to fund the massive capital requirements of mine construction.
Short-term observers may focus on the potential for cost overruns in the Rook I project, which could force management to seek additional financing under less favorable terms. The reliance on convertible debt and equity issuance to bridge the funding gap remains a primary risk factor that could weigh on future per-share value.
Quick answers to the most common questions about buying NXE stock.
For fiscal year 2025, NexGen Energy Ltd. (NXE) reported total revenue of $0.0M.
NexGen Energy Ltd. (NXE) reported a net loss of $309.4M for the fiscal year ending 2025.