Uranium Energy(NYSEMKT) UEC

Uranium Energy Corp. extracts fuel for carbon-free electricity. This fuel powers reactors that provide energy for homes. The company operates primarily in the United States and Canada.

Powering the Nuclear Fuel Chain

• Uranium Extraction: Produces uranium concentrate using In-Situ Recovery (ISR), which circulates water underground to dissolve minerals; produced 229,294 pounds in fiscal year 2026.
• Physical Uranium Program: Purchases drummed uranium on the open market to support future marketing and sales; held 1,256,000 pounds as of July 31, 2026.
• Inventory Sales: Sells purchased uranium to utilities and other buyers; accounted for all revenue in fiscal year 2026.
• Processing Facilities: Operates central plants that filter and dry uranium into a concentrate known as yellowcake for fuel production.

Building a Domestic Supply Hub

• Restarted uranium extraction at the Christensen Ranch ISR project in Wyoming in August 2024.
• Purchased the Sweetwater Mill and associated uranium projects in December 2024 for $175.4 million in cash.
• Commenced production at the Burke Hollow ISR mine in South Texas in April 2026.
• Incorporated United States Uranium Refining & Conversion Corp. in September 2025 to develop domestic refining and conversion capabilities.

A Cleaner Way to Mine

The company utilizes In-Situ Recovery (ISR) mining, which avoids blasting and waste rock movement to reduce environmental impacts. It maintains a 100% unhedged strategy, meaning it does not use contracts to lock in prices and remains fully exposed to uranium market fundamentals.

Key Numbers from the Field

• Sales of purchased uranium were $37.3 million in fiscal year 2026, down from $66.8 million in fiscal year 2025.
• Net loss was $137.3 million in fiscal year 2026.
• Cash and cash equivalents reached $495.5 million as of July 31, 2026, up from $148.9 million on July 31, 2025.
• Adjusted EBITDA loss was $118.1 million in fiscal year 2026, compared to a loss of $62.8 million in fiscal year 2025.
• Working capital totaled $547.6 million as of July 31, 2026.

The Big Picture

Uranium Energy has transitioned from exploration into active production across multiple mining hubs in the United States. Its recent acquisitions and focus on refining capabilities position it as a vertically integrated supplier of domestic nuclear fuel.