Westwater Resources (WWR) Q3 2026 earnings summary

Executive summary

• Kellyton construction, equipment procurement and customer qualification advanced alongside Coosa permitting and mine planning.

• Phase I cost estimate remained $245 million, with $136 million incurred by Sept. 30; completion and commissioning depend on additional financing.

• Q3 net loss narrowed to $4.4 million from $9.8 million YoY, primarily reflecting lower convertible-note losses.

Financial highlights

• Q3 2026 net loss was $4.4 million, or $0.03 per share, versus $9.8 million, or $0.12 per share, in Q3 2025.

• 9M 2026 net loss was $13.4 million, or $0.11 per share, versus $16.4 million, or $0.21 per share, in 9M 2025.

• Q3 improvement from lower convertible-note losses was partly offset by higher Coosa permitting, consulting and outside-services costs; 9M gains also included higher interest income.

• Operating expenses were $4.599 million in Q3 2026 versus $4.080 million YoY, and $13.601 million in 9M 2026 versus $10.290 million.

Outlook and guidance

• Kellyton Phase I cost estimate remained $245 million, including $14.8 million for contingency and potential escalation; $136 million had been incurred through Sept. 30.

• Management expects Phase I capacity of 12,500 metric tons/year of CSPG to be fully committed under offtake before commissioning; construction completion and operations depend on additional funding.

• FAST-41 dashboard targets Coosa environmental review and permitting completion in June 2027, subject to agency review; a mine-development feasibility study is planned for 2027.

• Current cash was expected to cover working capital and planned non-discretionary capital expenditures beyond a year after statement issuance, but not full Phase I completion.