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Perma-Fix Environmental Services (PESI) investor relations material
Perma-Fix Environmental Services Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 revenue reached $17.5 million, up 3.8% year-over-year, driven by a 44.7% increase in Treatment Segment revenue, while Services Segment revenue declined due to project delays and government contract timing.
Gross profit for Q3 2025 nearly doubled to $2.6 million, with gross margin expanding to 14.6% from 7.9% year-over-year; Treatment Segment gross margin improved to 17.3% from 4.5%.
Net loss for Q3 2025 was $1.8 million, a significant improvement from $9.0 million in Q3 2024.
Treatment Segment backlog nearly doubled to $15.4 million as of September 30, 2025, positioning for future growth.
PFAS destruction technology advanced, with a second-generation unit set for Q1 2026 commissioning and demonstrated regulatory-compliant performance.
Financial highlights
Q3 2025 revenue: $17.5 million (up from $16.8 million in Q3 2024); nine-month revenue: $46.0 million (up from $44.4 million in 2024).
Q3 2025 gross profit: $2.6 million (14.6% margin); nine-month gross profit: $4.8 million (10.4% margin).
Q3 2025 net loss: $1.8 million ($0.10/share); nine-month net loss: $8.1 million ($0.44/share).
SG&A expenses rose 12.4% in Q3 and 15.0% for the nine months, reflecting higher payroll, stock compensation, and business development costs.
Cash on hand at September 30, 2025: $16.4 million; liquidity (cash plus available credit): $23.8 million.
Outlook and guidance
Management expects continued improvement in Q4 2025 and 2026, supported by a strong Treatment Segment backlog and ramp-up of the West Valley Project contract.
International revenue is growing, with a 255% increase year-over-year for the nine months ended September 30, 2025.
Expects initial waste receipts from the DOE's DFLAW facility in late Q4 2025 or early 2026.
International waste shipments and new requests from Europe and North America support backlog and revenue diversity.
A partial federal government shutdown began October 1, 2025, which may delay waste shipments and impact results if prolonged.
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