Boss Energy (BOE) H1 2026 earnings summary

Executive summary

• Achieved record uranium production at Honeymoon (842k lbs) and Alta Mesa (348,930 lbs, 100% basis), with increased sales volumes and operational milestones met at both sites.

• Revenue rose 71% year-over-year to $81.8 million, driven by higher production and sales volumes.

• Net loss after tax narrowed to $7.9 million from $9.5 million in the prior period, mainly due to higher operating costs and inventory accounting.

• Achieved positive net cash from operating activities of $36.2 million for the half-year ended 31 December 2025.

• Ended the period with $208.0 million in cash and liquid assets and zero debt.

Financial highlights

• Revenue: $81.8 million (up 71% year-over-year).

• EBITDA: $8.6 million (vs. -$15.3 million prior year).

• Operating cash flow: $36.2 million (up 107% year-over-year).

• Capital investment increased 28% to $28.1 million, reflecting ongoing development activities.

• Cash and liquid assets: $208.0 million, with no debt.

Outlook and guidance

• C1 cash cost guidance for FY2026 reduced to $36–$40/lb (US$24–26/lb) due to cost optimization.

• Focus on delivering a New Feasibility Study for Honeymoon, with milestones set for updated resource statements and feasibility completion through Q3 CY26.

• Accelerated drilling and resource modeling underway to support future production and satellite deposit development.

• Focus remains on completing NIMCIX columns and building new wellfields to support future production.

• New Feasibility Study to be prioritised based on revised wellfield design.