Revenue remains highly transactional and volatile, highlighted by a 427.9% year-over-year growth spike in 2025Q2 followed by periods of zero revenue and negative gross margins.
| Metric | TTM | Jul'25 | Jul'24 | Jul'23 | Jul'22 | Jul'21 | Jul'20 | Jul'19 | Jul'18 | Jul'17 | Jul'16 | Jul'15 | Jul'14 | Jul'13 | Jul'12 | Jul'11 | Jul'10 | Jul'09 | Jul'08 | Jul'07 | Dec'06 | Dec'05 | Dec'04 |
|---|
| Sales/Revenue | 20.2M | 66.84M | 224K | 164.39M | 23.16M | 0 | 0 | 0 | 0 | 0 | 0 | 3.08M | 9.03M | 9.03M | 13.76M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 166 |
| Revenue Growth % | -69.78% | 29737.95% | -99.86% | 609.77% | - | - | - | - | - | - | -100% | -65.88% | 0% | -34.39% | - | - | - | - | - | - | - | -100% | - |
| Cost of Goods Sold | 38.46M | 42.36M | 187K | 133.34M | 15.87M | 4.48M | 4.58M | 4.49M | 4.55M | 4.12M | 4.06M | 8.03M | 9.16M | 18.45M | 8.11M | 0 | 592.48K | 1.22M | 7M | 3.02M | 3.02M | 0 | 0 |
| COGS % of Revenue | - | 63.38% | 83.48% | 81.11% | 68.51% | - | - | - | - | - | - | 260.8% | 101.49% | 204.43% | 58.96% | - | - | - | - | - | - | - | - |
| Gross Profit | -18.26M | 24.48M | 37K | 31.05M | 7.29M | -4.48M | -4.58M | -4.49M | -4.55M | -4.12M | -4.06M | -4.95M | -134.32K | -9.43M | 5.65M | 0 | -592.48K | -1.22M | -7M | -3.02M | -3.02M | 0 | 166 |
| Gross Margin % | -90.41% | 36.62% | 16.52% | 18.89% | 31.49% | - | - | - | - | - | - | -160.8% | -1.49% | -104.43% | 41.04% | - | - | - | - | - | - | - | 100% |
| Gross Profit Growth % | - | 66054.05% | -99.88% | 325.75% | 262.83% | 2.26% | -2.11% | 1.42% | -10.48% | -1.46% | 18% | -3587.2% | 98.57% | -266.97% | - | 100% | 51.56% | 82.54% | -131.72% | 0% | - | -100% | - |
| Operating Expenses | 47.59M | 97.8M | 56.44M | 22.07M | 26.56M | 13.03M | 9.75M | 10.49M | 11.76M | 10.74M | 10.17M | 15.03M | 12.21M | 12.42M | 30.25M | 27.76M | 21.87M | 12.35M | 11.95M | 2.81M | 14.92M | 2M | 128.34K |
| OpEx % of Revenue | - | 146.32% | 25195.98% | 13.43% | 114.67% | - | - | - | - | - | - | 488.09% | 135.26% | 137.57% | 219.89% | - | - | - | - | - | - | - | 77310.84% |
| Selling, General & Admin | 33.96M | 27.36M | 22.02M | 20.06M | 15.03M | 12.64M | 9.44M | 10.14M | 11.41M | 10.24M | 9.3M | 13.23M | 9.83M | 10.83M | 28.98M | 15.19M | 14.64M | 7.15M | 11.59M | 2.81M | 10.19M | 1.02M | 71.22K |
| SG&A % of Revenue | - | 40.94% | 9832.14% | 12.21% | 64.88% | - | - | - | - | - | - | 429.57% | 108.86% | 120.01% | 210.62% | - | - | - | - | - | - | - | 42906.02% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.45M | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | -114K | 70.44M | 34.41M | -163K | 11.53M | 393.17K | 310.22K | 347.44K | 354.62K | 497.73K | 875.72K | 1.8M | 2.38M | 1.58M | 1.28M | 12.58M | 7.23M | 5.19M | 362.53K | 0 | 8.44M | 0 | 0 |
| Operating Income | -127.44M | -73.32M | -56.4M | 8.87M | -19.27M | -17.51M | -14.33M | -14.98M | -16.31M | -15.22M | -14.33M | -20.34M | -22.84M | -21.81M | -24.61M | -27.91M | -22.43M | -13.57M | -19.27M | -5.83M | -14.92M | -2M | -128.17K |
| Operating Margin % | -630.89% | -109.7% | -25179.46% | 5.39% | -83.18% | - | - | - | - | - | - | -660.25% | -253% | -241.63% | -178.86% | - | - | - | - | - | - | - | -77210.84% |
| Operating Income Growth % | - | -30% | -736.09% | 146.02% | -10.02% | -22.17% | 4.29% | 8.2% | -7.2% | -6.19% | 29.52% | 10.95% | -4.7% | 11.36% | 11.83% | -24.41% | -65.32% | 29.58% | -230.24% | 60.9% | -646.67% | -1459.5% | - |
| EBITDA | -121.01M | -68.83M | -54.22M | 10.87M | -17.89M | -17.12M | -14.02M | -14.63M | -15.96M | -14.72M | -13.46M | -16.43M | -17.31M | -19.03M | -22.32M | -26.96M | -20.42M | -11.76M | -18.41M | -21.91M | -14.9M | -2M | -128.17K |
| EBITDA Margin % | -599.06% | -102.99% | -24204.91% | 6.61% | -77.23% | - | - | - | - | - | - | -533.32% | -191.79% | -210.85% | -162.22% | - | - | - | - | - | - | - | -77210.84% |
| EBITDA Growth % | -117.09% | -26.96% | -598.61% | 160.79% | -4.49% | -22.07% | 4.14% | 8.33% | -8.41% | -9.4% | 18.08% | 5.11% | 9.04% | 14.72% | 17.23% | -32.02% | -73.6% | 36.11% | 15.94% | -46.97% | -645.69% | -1459.5% | - |
| D&A (Non-Cash Add-back) | 6.43M | 4.49M | 2.18M | 2.01M | 1.38M | 393.17K | 310.22K | 347.44K | 354.62K | 497.73K | 875.72K | 3.91M | 5.53M | 2.78M | 2.29M | 943.3K | 2.01M | 1.8M | 856.22K | 0 | 19.74K | 0 | 0 |
| EBIT | -80.61M | -88.99M | -33.43M | 8.87M | 6.77M | -11.94M | -11.16M | -14.98M | -15.58M | -15.22M | -14.33M | -20.33M | -23.15M | -21.84M | -25.11M | -27.36M | -23.01M | -13.5M | -19.04M | -21.99M | -14.82M | -2M | -128.17K |
| Net Interest Income | 6.16M | 2.58M | 1.8M | -455K | -1.42M | -2.83M | -3.28M | -2.82M | -2.72M | -2.78M | -2.98M | -3.06M | -2.86M | -234 | 38.43K | 0 | -489.67K | 0 | 114.48K | 0 | -243.51K | 0 | 0 |
| Interest Income | 12.01M | 4.02M | 2.63M | 350K | 98K | 48.29K | 181.52K | 433.03K | 227.53K | 137.86K | 24.18K | 12.8K | 30.03K | 32.52K | 69.33K | 49.04K | 27.6K | 54.6K | 169.81K | 76.49K | 76.49K | 0 | 0 |
| Interest Expense | -213K | 1.45M | 827K | 805K | 1.52M | 2.88M | 3.46M | 3.25M | 2.95M | 2.91M | 3.01M | 3.07M | 2.89M | 32.76K | 30.9K | 0 | 517.27K | 0 | 55.33K | 0 | 320K | 0 | 0 |
| Other Income/Expense | 21.95M | -17.11M | 22.15M | -11.3M | 27.96M | 2.69M | -281.54K | -2.19M | -2.22M | -2.79M | -3.03M | -3.06M | -3.21M | -63.22K | -539.62K | 356.05K | -581.6K | -1.16M | -75.45K | -8.98M | 106.21K | 0 | 128.17K |
| Pretax Income | -105.38M | -90.44M | -34.26M | -2.44M | 5.25M | -14.82M | -14.62M | -17.17M | -18.53M | -18.01M | -17.36M | -23.4M | -26.04M | -21.87M | -25.15M | -27.55M | -23.08M | -13.5M | -19.04M | -14.82M | -16.39M | 0 | 0 |
| Pretax Margin % | -521.68% | -135.31% | -15292.41% | -1.48% | 22.65% | - | - | - | - | - | - | -759.65% | -288.54% | -242.33% | -182.78% | - | - | - | - | - | - | - | - |
| Income Tax | -1.11M | -2.78M | -5.03M | 870K | -5K | -4.01K | -5.55K | -14.37K | -707.51K | -34.35K | -32.24K | -35.41K | -69.71K | -10.75K | -61.79K | -405.11K | -7.39M | 0 | 195.17K | 0 | -200K | 2M | 128.17K |
| Effective Tax Rate % | 1.05% | 3.07% | 14.7% | -35.7% | -0.1% | 0.03% | 0.04% | 0.08% | 3.82% | 0.19% | 0.19% | 0.15% | 0.27% | 0.05% | 0.25% | 1.47% | 32.02% | 0% | -1.03% | 0% | 1.22% | - | - |
| Net Income | -104.26M | -87.66M | -29.22M | -3.31M | 5.25M | -14.81M | -14.61M | -17.15M | -17.83M | -17.97M | -17.33M | -23.36M | -25.98M | -21.86M | -25.08M | -27.15M | -15.69M | -13.5M | -19.24M | -14.82M | -14.82M | -2M | -128.17K |
| Net Margin % | -516.16% | -131.15% | -13045.09% | -2.01% | 22.68% | - | - | - | - | - | - | -758.5% | -287.77% | -242.21% | -182.33% | - | - | - | - | - | - | - | -77210.84% |
| Net Income Growth % | -37.7% | -199.98% | -783.61% | -162.97% | 135.45% | -1.39% | 14.82% | 3.78% | 0.8% | -3.7% | 25.82% | 10.06% | -18.81% | 12.84% | 7.6% | -72.99% | -16.21% | 29.8% | -29.81% | 0% | -641.36% | -1459.5% | - |
| Net Income (Continuing) | -104.26M | -87.66M | -29.22M | -3.31M | 5.25M | -14.81M | -14.61M | -17.15M | -17.83M | -17.97M | -17.33M | -23.36M | -25.98M | -21.86M | -25.08M | -27.36M | -23.01M | -13.5M | -19.24M | -14.82M | -14.82M | -2M | -128.17K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.21 | -0.20 | -0.07 | -0.01 | 0.02 | -0.07 | -0.08 | -0.10 | -0.11 | -0.14 | -0.16 | -0.25 | -0.29 | -0.26 | -0.32 | -0.39 | -0.27 | -0.29 | -0.49 | -0.45 | -0.56 | -0.12 | -0.00 |
| EPS Growth % | -22.16% | -172.11% | - | -146.91% | 127.56% | 11.78% | 18.15% | 11.36% | 21.43% | 12.5% | 36% | 13.79% | -11.54% | 18.75% | 17.95% | -44.44% | 6.9% | 40.82% | -8.89% | 19.64% | -366.67% | - | - |
| EPS (Basic) | - | -0.20 | -0.07 | -0.01 | 0.02 | -0.07 | -0.08 | -0.10 | -0.11 | -0.14 | -0.16 | -0.25 | -0.29 | -0.26 | -0.32 | -0.39 | -0.27 | -0.29 | -0.49 | -0.45 | -0.56 | -0.12 | -0.00 |
| Diluted Shares Outstanding | 490.7M | 427.68M | 397.31M | 364.79M | 271.02M | 210.3M | 183.04M | 175.84M | 157.12M | 128.24M | 106.09M | 92.4M | 89.14M | 85.38M | 78.33M | 68.8M | 59.02M | 47.36M | 39.4M | 32.9M | 26.34M | 17.3M | 160.59M |
| Basic Shares Outstanding | 490.7M | 427.68M | 397.31M | 364.79M | 271.02M | 210.3M | 183.04M | 175.84M | 157.12M | 128.24M | 106.09M | 92.4M | 89.14M | 84.09M | 78.33M | 68.8M | 59.02M | 47.36M | 39.4M | 32.9M | 26.34M | 17.3M | 160.59M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Production restart execution risk
As evidenced by the erratic quarterly revenue figures, UEC's top-line performance remains highly transactional, with a 427.9% year-over-year growth spike in 2025Q2 followed by periods of zero revenue, indicating that current sales are driven by opportunistic inventory liquidation rather than consistent, scalable mining production output.
The lack of a stable revenue CAGR suggests that the company is currently functioning as a uranium trading vehicle rather than a steady-state producer. Investors should monitor whether the transition to active mine production can smooth these lumpy revenue cycles and provide a more predictable growth trajectory.
According to the provided income statement data, UEC achieved a 36.62% gross margin during its peak revenue quarter in 2025Q2, yet the subsequent return to negative gross margins highlights the inherent volatility of relying on spot market uranium sales without established, low-cost extraction operations.
The inability to maintain positive gross margins suggests that the company's cost of goods sold is highly sensitive to the timing of inventory acquisition versus market sale prices. This margin profile appears to be a function of market timing rather than operational efficiency, which warrants caution regarding future profitability.
Based on reported financial statements, UEC's SG&A expenses have remained consistently elevated, reaching $9.4M in 2026Q3, which significantly outpaces the company's ability to generate gross profit and underscores a high fixed-cost structure that continues to weigh heavily on the bottom line.
The persistent level of administrative and overhead spending, even during periods of zero revenue, indicates a substantial burn rate required to maintain the company's standby assets. This cost structure suggests that management must achieve significant production scale to reach an operational break-even point.
As reported in recent filings, the company's net losses, including a $52.9M loss in 2026Q3, are compounded by ongoing stock-based compensation of $2.2M, which suggests that shareholders are bearing the cost of operational development through persistent equity dilution rather than through internally generated cash flow.
The reliance on equity-based compensation and the absence of consistent operating income raise questions about the quality of earnings. Investors should consider that the current net loss trajectory may necessitate further capital raises, potentially diluting existing equity holders before production reaches a sustainable scale.
While management emphasizes the transition to a production-ready hub-and-spoke model, the income statement data suggests that UEC remains in a capital-intensive development phase, with operating margins consistently in negative territory, casting doubt on the immediate viability of its current mining-focused business model.
Short-term observers may point to the lack of sustained operating profit as a primary risk, suggesting that the company's valuation is currently decoupled from its actual operational performance. The market's focus on resource growth may be masking the underlying reality of high cash burn and the significant execution risks inherent in restarting dormant ISR facilities.
Quick answers to the most common questions about buying UEC stock.
For fiscal year 2025, Uranium Energy Corp. (UEC) reported total revenue of $66.8M. This represents a 40263153.0% increase compared to $0.0M in 2004.
Uranium Energy Corp. (UEC) reported a net loss of $87.7M for the fiscal year ending 2025.
Uranium Energy Corp. (UEC) reported an operating income of $-73.3M, resulting in an operating profit margin of -109.7%. This margin reflects the operational efficiency of the business before interest and taxes.
Uranium Energy Corp. (UEC) generated $24.5M in gross profit for the year, representing a gross profit margin of 36.6%. This demonstrates the company's core pricing power and production efficiency.