Boss Energy (BOE) Q4 2026 TU earnings summary

Executive summary

• Achieved revised FY26 production and cost guidance, with Q4 uranium production of 362,000 lbs, up 79% from Q3, and full-year production of 1.41 million lbs, up 65% year-over-year, following recovery from weather disruptions.

• Positive free cash flow for FY26, with cash and liquid assets increasing by AUD 13.1 million to AUD 207 million, and no debt at year-end.

• Transitioned to wide-spaced wellfield design, with a new feasibility study for Honeymoon and updated mineral resource estimate targeted for August 2026.

• Advanced development of Gould's Dam and Jasons satellite deposits, leveraging existing infrastructure and scheduling resource delineation drilling.

• Board changes included appointment of Peter Botten as incoming Chair effective September 30, 2026.

Financial highlights

• FY26 C1 cash cost was AUD 39/lb (US$26/lb) and AISC was AUD 61/lb (US$41/lb), both within revised guidance.

• Q4 C1 cost was AUD 45/lb, down from AUD 60/lb in Q3; AISC was AUD 70/lb, down from AUD 93/lb.

• FY26 sales revenue was AUD 34.8 million from 325,000 lbs sold at an average realized price of AUD 107/lb (US$75/lb); full-year sales totaled 1.4 million lbs.

• Total capital expenditure for FY26 was AUD 66 million, focused on infrastructure and wellfield development.

• Inventory on hand at year-end was 1.58 million lbs, up 172,000 lbs for the year, valued at approximately AUD 190 million.

Outlook and guidance

• Expect modest reduction in feed grade for September quarter at similar flows.

• Anticipate average realized sales price of US$80–82/lb in Q1 FY27, with 300,000 lbs contracted to two utilities.

• FY27 guidance and updated mineral resource estimate to be provided with the August 2026 feasibility study.

• Investor Day planned for September 2026 to outline production ramp-up and long-term strategy.

• Continued acceleration of Gould’s Dam and Jasons satellite deposits for future growth.