Perma-Fix Environmental Services Earnings Call Transcripts
Fiscal Year 2026
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Q2 2026 saw revenue decline and a net loss due to delayed waste processing, but backlog and future demand grew sharply. Major DOE contract awards and facility upgrades position the company for multi-decade growth, with significant capacity expansion underway.
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Q1 2026 saw lower revenues and losses due to seasonal and operational factors, but significant investments and contract wins position the company for a strong rebound starting in Q2, driven by Hanford waste streams, PFAS projects, and new service contracts. Q2 is expected to mark a major inflection point.
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Four U.S. waste treatment plants, led by the Hanford facility, are positioned for major DOE contracts and international growth. Hanford cleanup and PFAS destruction initiatives are set to drive significant revenue increases, with new technologies and regulatory changes poised to expand market opportunities.
Fiscal Year 2025
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Revenue grew to $61.7M in 2025, led by treatment segment gains and expanded Hanford-related capacity. Despite a net loss of $13.8M, backlog and international activity increased, and Q2 is expected to mark a return to profitability as new DOE waste streams ramp up.
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Revenue was $16.5M with gross profit doubling year-over-year and gross margin rising to 14.6%. Treatment segment revenue grew 45%, and backlog nearly doubled, with strong progress in DOE and PFAS initiatives.
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Q2 2025 saw revenue and gross margin growth, led by a 37% increase in treatment segment revenue and improved operational efficiency. Backlog and cash position strengthened, while federal project delays impacted services. DFLAW and PFAS opportunities support a positive outlook.
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Revenue grew 2.2% year-over-year to $13.9M, with gross profit rebounding and a strong waste treatment backlog. PFAS and Hanford programs are advancing, and Q2 is expected to outperform Q1, supported by sustainable waste streams and improved operational efficiency.
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The company is positioned for strong growth through major DOE contracts, international expansion, and innovative PFAS treatment technology. Revenue is expected to rise significantly in late 2024 and beyond, with high-margin opportunities and minimal incremental costs for new initiatives.
Fiscal Year 2024
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Revenue and profitability declined sharply in 2024 due to federal budget delays and project postponements, but a strengthened backlog, new contract wins, and innovative PFAS technology position the company for a return to growth and profitability in 2025. Key programs like DFLAW at Hanford and the West Valley project are expected to drive results.
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Q3 revenue declined 23% year-over-year due to operational disruptions, but expense reductions and the launch of a commercial PFAS treatment system position the company for growth. International contracts and a major U.S. government award are expected to drive revenue in 2025, with improved stability forecast for Q4.
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Q2 2024 saw a sharp revenue decline and net loss due to government delays and equipment failure, but early Q3 trends show recovery with strong project pipelines and new PFAS technology nearing commercialization. Cash reserves are strong, and major DOE projects and international contracts are expected to drive growth in 2025.