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Ur-Energy (URG) investor relations material
Ur-Energy Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Operations focused on uranium recovery at Lost Creek and development at Shirley Basin, both in Wyoming, with Lost Creek producing and Shirley Basin under construction for 2026 start-up.
Q3 2025 saw continued ramp-up at Lost Creek, with 93,523 pounds of U3O8 dried and packaged and 110,000 pounds sold at an average price of $57.48 per pound, generating $6.3 million in revenue.
Shirley Basin construction is well advanced, fully staffed, and on track for uranium production startup in Q1 2026.
Eight multi-year sales agreements in place, projecting 6.0 million pounds of U3O8 sales from 2025 to 2033.
Management transition announced: new CEO and VP Finance appointed to support growth and operational ramp-up.
Financial highlights
Revenue for the nine months ended September 30, 2025, was $16.8 million, up from $11.1 million year-over-year.
Net loss for the nine months was $59.3 million, compared to a $33.1 million loss in the prior year.
Gross loss of $1.4 million for the nine months, compared to a gross profit of $1.0 million in 2024.
Cash and cash equivalents at September 30, 2025, were $52.0 million, down from $76.1 million at year-end 2024.
Q3 2025 cash costs per pound of produced inventory decreased slightly to $43.00 from $43.61 in Q2.
Outlook and guidance
Projected 2025 sales of 440,000 pounds U3O8 at an average price of $61.77 per pound, with expected revenue of $27.2 million.
Shirley Basin construction and development on track for 2026 production start; $35.6 million in total 2025 construction and equipment costs anticipated.
Q4 2025 delivery of 165,000 pounds at an average price of $63.20 expected from produced inventory.
Exploration in the Great Divide Basin aims to expand the uranium resource base, with a 120-drillhole program at LC South planned for Q1 2026.
Capital projects to be funded by operating cash flow and cash on hand; additional financing may be pursued if needed.
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