Ur-Energy(NYSEMKT) URG

Ur-Energy supplies uranium, a key fuel for nuclear power plants. Its uranium helps generate electricity for homes and businesses. The company’s waste disposal services support safe handling of mining byproducts.

What’s in the Yellowcake? (Products and Services)

• Uranium concentrate (U3O8): Main product, sold to nuclear utilities; 99.9% of 2025 revenue.
• Waste disposal services: Licensed site for uranium mining byproducts; 0.1% of 2025 revenue.
• Exploration projects: Early-stage uranium and gold property development; no material revenue yet.

Growth Spurts and Expansion Moves

• Advanced construction at Shirley Basin project in 2025; production expected in 2026.
• Expanded Lost Creek operations with new wellfields and processing capacity in 2025.
• Issued $120 million in convertible notes in December 2025 to fund growth.
• Renewed drilling at Lost Soldier and North Hadsell projects in 2025.
• Secured multi-year uranium sales contracts with eight global nuclear utilities through 2033.

Why Ur-Energy Stands Out (Without Glowing in the Dark)

The company uses in situ recovery, a method that extracts uranium with less surface disruption than traditional mining. Its Lost Creek facility handles all processing steps in-house, reducing reliance on third parties. Multi-year sales contracts provide revenue visibility and help manage uranium price swings.

Five Things You Need to Know

• Revenue was $27.2 million in 2025, down 19% from 2024.
• Gross margin improved to 0.3% in 2025 from -26.6% in 2024.
• Operating loss was $69.4 million in 2025, up 10% from 2024.
• Cash and equivalents were $123.9 million at year-end 2025.
• Uranium production rose 40% in 2025 to 370,893 pounds captured.

Bottom Line

Ur-Energy has grown by expanding production and securing long-term contracts. The company faces industry risks but maintains a strong cash position for future projects.