Uranium Energy Corp Reports Fiscal 2026 Results

Fiscal-year sales came from inventory, while mine output increased and the planned conversion facility remained in development.

Rhea-AI Summary

Uranium Energy (UEC) reported annual results and a 157% quarterly increase in uranium production across its mines.

Fourth-quarter output at Christensen Ranch and Burke Hollow totaled 82,744 pounds, up from 32,195 pounds in the third quarter, while total cost per pound fell 33% to $36.54. Fiscal 2026 production was 229,294 pounds at a total cost of $39.94 per pound. Sales of 400,000 pounds from inventory generated $37.3 million in revenue and $16.9 million in gross profit, at an average realized price of $93.13 per pound.

At July 31, 2026, liquid assets totaled $753 million, including $495 million in cash, with no debt. Burke Hollow completed its first full operating quarter, and wellfield construction is underway at Ludeman. The planned conversion facility is in licensing preparation, with a cost estimate expected by mid-2027. Sweetwater remains in the federal permitting process.

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0 major · 4 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointFourth-quarter production rose 157% to 82,744 pounds from 32,195 pounds in the third quarter.
• Moderate pointFourth-quarter total cost per pound fell 33% to $36.54; total cash cost was $30.01.
• Moderate pointInventory sales of 400,000 pounds generated $37.3 million in revenue and $16.9 million in gross profit.
• Moderate pointLiquid assets totaled $753 million at July 31, 2026, including $495 million in cash.

10 minor points

• Minor pointFiscal 2026 production totaled 229,294 pounds at a total cost of $39.94 per pound.
• Minor pointFiscal 2026 total cash cost was $34.24 per pound.
• Minor pointAverage realized sales price was $93.13 per pound for fiscal 2026.
• Minor pointNo debt was reported at July 31, 2026.
• Minor pointChristensen Ranch production doubled to 65,392 pounds in the fourth quarter.
• Minor pointChristensen Ranch total cost per pound fell to $35.63 from $54.61 in the third quarter.
• Minor pointBurke Hollow produced 17,352 pounds in its first full operating quarter.
• Minor pointFour Christensen Ranch header houses received final regulatory approvals on September 28, 2026.
• Minor pointLudeman began construction of wells for its initial production area.
• Minor pointRoughrider completed 36,000 meters of core drilling to support resource conversion and a planned pre-feasibility study.

Negative

• Minor pointBurke Hollow production was limited to a small section of its first production area during the quarter.

3 minor points

• Minor pointOne of five Christensen Ranch header houses awaiting approval at quarter-end was not among the four approved September 28.
• Minor point. Forward-looking: it has not happened yet and may not happen.UR&C's planned conversion facility remains in licensing preparation; its Class IV cost estimate is expected by mid-2027.
• Minor point. Forward-looking: it has not happened yet and may not happen.Sweetwater's federal approvals remain pending, with the permitting dashboard projecting milestones in March and May 2027.

News Explained

The NNSA demand discussion is at the information-request stage; UEC's stated capability is not itself a supply award.

UEC reports that four Christensen Ranch header houses received final regulatory approval on September 28, 2026, after awaiting approval at fiscal year-end; the company expects production to begin in the coming weeks.

The release describes the NNSA's 4-million-pound annual uranium requirement as part of a request for information, and says UEC affirmed it could support the need; this is a capability response, not a reported supply award.

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Market Reaction – UEC

$9.21 – $9.71 Day Range

$4.75B Market Cap

On Sep 29, the day this news came out, the latest delayed price for UEC is 4.13% above the previous close. Our momentum scanner has recorded 3 alerts for this stock so far that day. The latest delayed price is $9.59. Relative volume is exceptionally heavy at 13.9x the average.

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Market Context

The June 9 Q3 results announcement was followed by a 15.54% decline over 24 hours, a relevant same-y...

Analysis

The June 9 Q3 results announcement was followed by a 15.54% decline over 24 hours, a relevant same-year comparison when assessing this fiscal 2026 results release, not a prediction of its reaction.

Key Figures

Fourth-quarter production: 82,744 pounds Fourth-quarter production increase: 157% Fourth-quarter total cost per pound: $36.54 per pound; down 33% +5 more

Fourth-quarter production

82,744 pounds

Combined production from Christensen Ranch and Burke Hollow

Fourth-quarter production increase

157%

Compared with the prior quarter

Fourth-quarter total cost per pound

$36.54 per pound; down 33%

Fourth quarter fiscal 2026

Fiscal 2026 production

229,294 pounds

Full fiscal year

Uranium sold

400,000 pounds

Sold from inventory in fiscal 2026

Realized sales price

$93.13 per pound

Weighted average for fiscal 2026 sales

Revenue

$37.3 million

Fiscal 2026

Liquid assets

$753 million

As of July 31, 2026

Historical Context

1 past event · Latest: Jun 09

1 event

1. Jun 09

   Earnings report

   24h Move

   -15.5%

   Q3 results reported new production, strong liquidity, and total cost of $54.61 per pound.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

u3o8, in-situ recovery, pre-feasibility study, gaap

4 terms

u3o8 technical

"precipitated uranium and dried and drummed U3O8"

U3O8 is the chemical name for a stable form of uranium oxide commonly called “yellowcake,” the concentrated powder produced after uranium ore is processed. Investors track U3O8 because it represents the raw material that is turned into nuclear fuel; its supply, demand and price act like a commodity indicator that can move the value of mining companies, utilities and firms tied to the nuclear fuel chain. Think of it as the crude oil equivalent for nuclear power — a basic feedstock whose availability and cost affect an entire industry.

in-situ recovery technical

"UEC's Next In-Situ Recovery ("ISR") Mine"

In-situ recovery is a mining method that extracts a valuable material by dissolving it underground and pumping the solution to the surface instead of digging or blasting rock. For investors, it matters because this approach often lowers upfront construction costs, shortens development time and reduces visible land disturbance, but it also brings regulatory, environmental and groundwater risks that can affect project timelines, operating costs and valuation.

pre-feasibility study technical

"the planned pre-feasibility study ("PFS")"

A pre-feasibility study is an initial assessment that evaluates whether a proposed project or investment idea is worth exploring further. It involves examining basic factors like costs, potential benefits, and possible challenges, similar to conducting a preliminary check before deciding to invest more time and resources. This helps investors determine if pursuing the project further is practical and likely to be successful.

gaap financial

"do not have standardized meanings under GAAP"

GAAP, or Generally Accepted Accounting Principles, are a set of standardized rules and guidelines that companies follow when preparing their financial statements. They ensure consistency, transparency, and comparability across different companies, making it easier for investors to understand and compare financial information accurately. This helps investors make informed decisions based on trustworthy and uniform financial reports.

View in glossary

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NYSE American: UEC

Transformational Year Establishing UEC as a Multi-Mine U.S. Uranium Producer

Fourth Quarter Production Up More Than 150% with Significantly Improved Economies of Scale

Unhedged Sales Strategy Delivered Peer Leading Realized Price of $93.13 per Pound

$753 Million in Liquid Assets⁽¹⁾ and No Debt

Advancing the Largest Uranium Resource Base in the U.S.

Building America's Only Vertically Integrated Uranium Company, from Mining and Processing to Planned Refining and Conversion

Corporate Highlights

• Fourth Quarter Production Up 157%, Total Cost per Pound⁽²⁾ Down 33%: Combined production from Christensen Ranch and Burke Hollow in the fourth quarter totaled 82,744 pounds of precipitated uranium and dried and drummed U₃O₈, up from 32,195 pounds in the third quarter, at a Total Cash Cost per Pound⁽²⁾ of $30.01 and a Total Cost per Pound of $36.54.
• Production Doubled at Christensen Ranch, Total Cost per Pound Down 35%: Fourth quarter production at Christensen Ranch doubled to 65,392 pounds of precipitated uranium and dried and drummed U₃O₈ at a Total Cash Cost per Pound of $28.38 and a Total Cost per Pound of $35.63, down from $46.69 and $54.61, respectively, in the third quarter.
• Commenced Production at Burke Hollow, Ramp-Up Underway: In its first full quarter of operation, Burke Hollow produced 17,352 pounds of precipitated uranium and dried and drummed U₃O₈ at a Total Cash Cost per Pound of $36.13 and a Total Cost per Pound of $39.93. As planned, this initial phase was limited to a small section of the first production area to establish key operating parameters ahead of expansion across the full wellfield.
• First Full Year of Production at a Total Cash Cost of $34.24 and Total Cost of $39.94 per Pound: Fiscal 2026 production totaled 229,294 pounds of precipitated uranium and dried and drummed U₃O₈, with 359,260 pounds produced since commissioning through the end of the fiscal year.
• Growing U.S. Government Demand for Unobligated U.S.-Origin Uranium: In response to a Request for Information ("RFI") from the National Nuclear Security Administration ("NNSA"), which outlined a need for 4 million pounds per year of unobligated U.S.-origin uranium with deliveries as soon as 2030, UEC affirmed its capability to fully support that requirement. Adding to that demand, the U.S. Army plans to deploy more than 20 microreactors requiring unobligated U.S.-origin uranium.
• United States Uranium Refining & Conversion Corp ("UR&C") Advances Toward a Class IV Cost Estimate: Working with its engineering partner Fluor Enterprises, Inc. ("Fluor"), UR&C completed core execution plans, built a combined dedicated 63-member project team, began preparing its U.S. Nuclear Regulatory Commission license application and progressed site selection. The Class IV cost estimate is expected to be completed by mid-2027.
• Wellfield Construction Underway at Ludeman, UEC's Next In-Situ Recovery ("ISR") Mine: Installation of the monitoring, injection and recovery wells in the initial wellfield is underway. Engineering for the satellite ion-exchange plant has progressed with the procurement of long lead-time equipment.
• Advancing Wellfield Development at Sweetwater, UEC's Third Hub-and-Spoke: Drilling in Sweetwater North identified mineralization trends that support further delineation and advance the first two production areas.
• Roughrider Drilling Completed: 36,000 meters of core drilling was completed during the quarter to support resource conversion and the planned pre-feasibility study ("PFS") for the world class Roughrider Project located in the Athabasca Basin of Saskatchewan, Canada.

Fiscal 2026 Financial Highlights

• Peer Leading Realized Sales Price: Sold 400,000 pounds from inventory at a weighted average realized price of $93.13 per pound, which the Company believes to be the highest among publicly traded uranium producers, generating revenue of $37.3 million and gross profit of $16.9 million for fiscal 2026.
• Robust Balance Sheet: $753 million in liquid assets⁽¹⁾, including cash of $495 million, with no debt.
• Strategic Inventory Position in a Tightening Market: 1,256,000 pounds of U₃O₈ as of July 31, 2026, valued at $109 million at current market prices⁽¹⁾, excluding 359,260 pounds of precipitated uranium and dried and drummed U₃O₈ at the Irigaray Central Processing Plant ("CPP") and Hobson CPP.

CORPUS CHRISTI, Texas, Sept. 29, 2026 /PRNewswire/ -- Uranium Energy Corp (NYSE American: UEC) (the "Company" or "UEC") today announced results and related information for its fiscal year ended July 31, 2026.

Amir Adnani, President and CEO, stated:

"In fiscal 2026, UEC became a multi-mine uranium producer. Twelve months ago, we were producing from a single mine in Wyoming. Today, we are producing from two mines in two states, are well along the way in building a third at Ludeman, have grown our operating team to more than 250 people and have doubled drilling capacity. We started production at Burke Hollow, the largest greenfield in-situ recovery mine to come online in the United States in over a decade, and expanded wellfield infrastructure at Christensen Ranch. This growth is underpinned by the largest uranium resource base in the country, providing depth and a long duration runway to keep scaling.

Our unhedged sales strategy delivered a weighted average realized price of $93.13 per pound, which we believe is the highest among publicly traded uranium producers. Consistent with our strategy over many quarters, we continue to hold most of our inventory, and that approach is being rewarded as the market tightens.

Through UR&C, we are building America's only vertically integrated uranium company, from mining and processing to refining and conversion. The U.S. Government's growing demand for unobligated U.S.-origin uranium and conversion confirms why we set out to build it: those needs can only be met by U.S. mines, U.S. technology and U.S. conversion.

We enter fiscal 2027 debt-free with an exceptional balance sheet and the ability to fund our ongoing growth. With this unparalleled combination of resource depth, financial strength and talent, UEC has never been better positioned to build on and extend its leadership position in the United States."

Growing U.S. Government Demand for Unobligated U.S.-Origin Uranium and Conversion

The U.S. Department of Energy through the NNSA issued a RFI to ascertain domestic company capabilities to supply unobligated U.S.-origin uranium and conversion services in support of NNSA needs through the 2040s. The RFI outlined NNSA requirements for unobligated U.S.-origin uranium at 4 million pounds of U₃O₈ / 1,500 metric tonnes of uranium as UF₆ per year with deliveries commencing as early as 2030.

UEC's response to the RFI affirmed that we are positioned to fully support NNSA's U₃O₈ requirements as our production in Texas and Wyoming ramps up. Through UEC's subsidiary, UR&C, we are positioning to provide the necessary conversion services in accordance with NNSA requirements, further demonstrating UEC's commitment to serve as America's national champion for the front end of the nuclear fuel cycle.

On August 26, 2026, the Department of the Army announced the selection of five nuclear reactor developers to be awarded up to a combined $2.2 billion to own, construct and operate nuclear microreactors on five military installations. The Army anticipated more than 20 microreactors to be deployed through the Janus Program with all requiring unobligated U.S.-origin uranium and conversion services.

The growing U.S. Government demand for unobligated U.S.-origin uranium and conversion services highlights UEC's distinct positioning as a leading domestic supplier and the only company pursuing a vertically integrated fuel cycle solution.

United States Uranium Refining & Conversion Corp (UR&C)

During fiscal 2026, UR&C advanced its planned uranium conversion facility across technology development, licensing and project execution, working with its engineering partner Fluor. UR&C's combined dedicated 63-member project team draws on Fluor's nuclear-focused Mission Solutions business subject matter experts, including specialists in process technology, nuclear and environmental engineering and project delivery. Project mobilization was completed in full compliance with U.S. Department of Energy export control regulations for nuclear technology. UR&C is advancing toward a Class IV cost estimate, which is expected to be completed by mid-2027.

Following receipt of its U.S. Nuclear Regulatory Commission Docket Number earlier this year, UR&C finalized its regulatory engagement strategy and began preparing its license application, supported by Jensen Hughes, a specialist nuclear licensing firm engaged for the project.

UR&C and Fluor expanded collaboration with leading equipment vendors, National Laboratories and specialty subcontractors to accelerate process design and laboratory work, including evaluation of process technology and thermophysical properties. UR&C is also pursuing partnerships with National Laboratories and academic institutions to enhance technical development, drawing on industry expertise and historical operating knowledge.

The goal is to position UR&C's conversion process as a U.S. technology, eligible for delivering unobligated U.S.-origin UF₆ supply for the requirements of the U.S. Government. To that end, to safeguard export-controlled information, UR&C's project team has implemented a Technology Control Plan and completed comprehensive training.

Powder River Basin, Wyoming, Hub-and-Spoke ISR Operations
Hub: Irigaray CPP; Spokes: Christensen Ranch and Ludeman

In the fourth quarter, 65,392 pounds of precipitated uranium and dried and drummed U₃O₈ were produced at Christensen Ranch at a Total Cash Cost per Pound of $28.38 and a Total Cost per Pound of $35.63. Higher production reduced Total Cost per Pound by 35%, from $54.61 in the prior quarter.

As previously reported, three new header houses in Wellfield 11 began production late in the third fiscal quarter. Four additional header houses were constructed and tested as of the end of the fourth fiscal quarter, bringing the total to five that were awaiting regulatory approval for startup at such time. On September 28, 2026, final regulatory approvals were issued for four of these. Production is expected to commence at these newly approved header houses in the coming weeks.

Currently, three additional header houses are under construction. Header house construction has been bolstered by an increase in drilling capacity, with 17 drill rigs in operation in the Powder River Basin at fiscal year-end, up from 12 in the prior year.

At the Ludeman ISR project in the Powder River Basin, monitor, injection and recovery wells for the first wellfield are under construction and being tested for mechanical integrity.

Engineering for the satellite ion-exchange plant was significantly advanced during the fourth quarter, allowing the Company to procure long lead-time equipment. Civil engineering for the plant pad was completed, and a construction contractor was selected. The powerline location has been established, and surveys are expected to be completed in the first quarter of fiscal 2027. 

South Texas Hub-and-Spoke ISR Operations
Hub: Hobson CPP; Spoke: Burke Hollow

Operations began at the Burke Hollow ISR mine in April and at the Hobson CPP in May. In its first full quarter of operation, Burke Hollow produced 17,352 pounds of precipitated uranium and dried and drummed U₃O₈ at a Total Cash Cost per Pound of $36.13 and a Total Cost per Pound of $39.93.

The first shipment of uranium-loaded resin from Burke Hollow reached Hobson in mid-May, and every processing step at the plant, from resin transfer and elution through precipitation, drying and packaging, has now been commissioned.

As planned, production activity in the quarter was limited to a small section of the first production area at Burke Hollow, consisting of 126 injection and recovery wells that were brought online to establish optimal operating parameters, such as lixiviant chemistry, pump sizing and wellfield patterns. These results will guide the next phase of operations as mining in the first production area expands.

The Company had 21 drill rigs in operation in South Texas at fiscal year-end, up from 8 in the prior year.

Sweetwater, Wyoming, Hub-and-Spoke Development

At Sweetwater, the FAST-41 and National Environmental Policy Act federal permitting process continued to advance under the leadership of the Bureau of Land Management ("BLM"). Currently, the FAST-41 Permitting Dashboard expects completion of the Environmental Assessment ("EA") in March 2027 and approval of the Plan of Operations in May 2027. Baseline studies were largely completed in the quarter, with final reports expected to be submitted to BLM in the first quarter of fiscal 2027.

Drilling in the Sweetwater North area identified mineralization trends that support continued delineation. Building on these results, additional drilling is planned for the first quarter of fiscal 2027 to further extend the mineralization identified in the initial program and to advance wellfield design for the first two production areas.

Work continues by the Company and Wood Group to assess the refurbishment requirements for the Sweetwater Mill for both conventional and ISR operations, with focus currently on the installation of ion-exchange and elution systems for ISR operations.

The Company had two drill rigs in operation in the Great Divide Basin at the end of the fiscal year.

Roughrider Project, Saskatchewan

As part of the planned PFS at the Roughrider Project, the Company completed its previously announced diamond drilling program, which has expanded to 36,000 meters, with the goal of converting resources into higher categories. This included resource targets throughout the West Zone, East Zone and Far East Zone. Working alongside Tetra Tech Canada Inc., the preparation of the PFS is progressing.

During the quarter, the geotechnical drilling for a future tailings management facility was completed. This included the collection of water samples and the installation of water level monitoring stations. 

In August 2026, the Company entered into a Definition Study Agreement with Saskatchewan Power Corporation to advance engineering, EA and community engagement work specifically for the connection of a high-voltage transmission line to the Roughrider Project.

Conference Call Details

A conference call will be held at 11:00 a.m. ET (8:00 a.m. PT) on Tuesday, September 29, 2026, to discuss the Company's results, upcoming catalysts and current market conditions. To participate, please use one of the following methods:

Webinar: Click Here
North America (toll-free): 1-877-270-2148
International: 1-412-902-6510

An accompanying presentation will be available on UEC's website at www.uraniumenergy.com and a replay of the event will be available following the presentation.

For further information, please refer to the Company's Annual Report on Form 10-K for the fiscal year ended July 31, 2026, which will include the Company's audited consolidated financial statements and management's discussion and analysis, and will be available on the Company's website at www.uraniumenergy.com and under its profile at www.sec.gov.

Notes:

1. As of July 31, 2026. Liquid assets consist of cash and equity securities and uranium inventories based on market values and does not include in-process inventory and uranium concentrates from extraction at the Irigaray CPP and Hobson CPP. Market values for securities are based on applicable closing prices on July 31, 2026 and uranium inventories are based on the spot price quoted from UxC at ConverDyn on such date.
2. Total Cost per Pound and Total Cash Cost per Pound are not measures of financial performance under accounting principles generally accepted in the United States ("GAAP") and should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. See "Non-GAAP Measures" below.

About Uranium Energy Corp

Uranium Energy Corp is America's largest and fastest growing uranium company. The Company controls the largest uranium resource base and the most licensed production capacity in the United States, totaling approximately 12 million pounds per year across its Wyoming and South Texas platforms. In Canada, the Company controls one of the most extensive land and resource portfolios in the Athabasca Basin, anchored by the Roughrider Project in Saskatchewan. Through its wholly owned subsidiary, United States Uranium Refining & Conversion Corp, UEC is pursuing domestic refining and conversion capabilities to further strengthen the U.S. nuclear fuel supply chain. UEC maintains a 100% unhedged uranium strategy, providing full exposure to uranium market fundamentals. The Company is managed by professionals with decades of experience across uranium exploration, development, production and fuel cycle infrastructure.

Stock Exchange Information:
NYSE American: UEC
WKN: A0JDRR
ISIN: US9168961038

Non-GAAP Measures

This news release includes reference to "Total Cost per Pound", "Total Cash Cost per Pound", "Total Non-Cash per Pound" and "Production‑Based Royalties, Ad Valorem and Severance Tax per Pound", which do not have standardized meanings under GAAP. We define: (i) Total Cost per Pound as the addition to in-process inventory and uranium concentrates from extraction (each a component of inventories on the consolidated balance sheets) for the applicable period divided by the quantity (in pounds) of precipitated uranium and dried and drummed U₃O₈ produced in such period; (ii) Total Cash Cost per Pound as the addition to in-process inventory and uranium concentrates from extraction (each a component of inventories on the consolidated balance sheets), excluding depreciation, depletion and amortization, for the applicable period divided by the quantity (in pounds) of precipitated uranium and dried and drummed U₃O₈ produced in such period; (iii) Total Non-Cash Cost per Pound as the difference between Total Cost per Pound and Total Cash Cost per Pound; and (iv) Production‑Based Royalties, Ad Valorem and Severance Tax per Pound (a component of Total Cash Cost per Pound) as the production‑based royalties, ad valorem and severance tax accrued for the applicable period divided by the quantity (in pounds) of precipitated uranium and dried and drummed U₃O₈ produced in such period. Production‑Based Royalties, Ad Valorem and Severance Tax per Pound does not include royalties on sales, which will be recognized as part of cost of sales in future periods when the uranium concentrates are sold. We believe that, in addition to conventional measures prepared in accordance with GAAP, certain investors and other stakeholders also use this information to evaluate our operating and financial performance. The use of these performance measures is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Our definition of these measures may differ from other mining companies and therefore, may not be comparable. These non-GAAP measures should be read in conjunction with our consolidated financial statements for the applicable periods.

Christensen Ranch / Irigaray CPP

			First Quarter	Second Quarter	Third  Quarter	Fourth  Quarter
(in thousands of dollars, except cost per pound)			Fiscal  2026	Fiscal  2026	Fiscal  2026	Fiscal  2026	Fiscal  2026
Cash Production Costs		A	$     1,612	$    1,509	$    1,242	$ 1,348	$    5,711
Add
	Production-Based Royalties		101	67	49	99	316
	Ad Valorem and Severance Tax		338	238	212	409	1,197
	Total Production-Based Royalties and Taxes	B	439	305	261	508	1,513
Total Cash Costs		C=A+B	$     2,051	$    1,814	$    1,503	$ 1,856	$    7,224
Add
	Depreciation, depletion and amortization		306	205	255	474	1,240
Total Non-Cash Costs		D	$        306	$       205	$       255	$    474	$    1,240
Total Costs		E=C+D	$     2,357	$    2,019	$    1,758	$ 2,330	$    8,464
Precipitated Uranium and Dried and Drummed Uranium Concentrate (pounds)		F	68,612	45,743	32,195	65,392	211,942
Cash Production Costs Per Pound		G=A/F	$     23.50	$    32.99	$    38.58	$ 20.61	$    26.95
Production-Based Royalties, Ad Valorem and Severance Tax Per Pound		H=B/F	6.40	6.67	8.11	7.77	7.14
Total Cash Cost Per Pound			$     29.90	$    39.66	$    46.69	$ 28.38	$    34.09
Total Non-Cash Cost Per Pound		I=D/F	4.45	4.48	7.92	7.25	5.85
Total Cost Per Pound		J=G+H+I	$     34.35	$    44.14	$    54.61	$ 35.63	$    39.94

Burke Hollow / Hobson CPP

(in thousands of dollars, except cost per pound)			Fourth  Quarter and Fiscal 2026
Cash Production Costs		A	$         627
Add
	Production-Based Royalties		-
	Ad Valorem and Severance Tax		-
	Total Production-Based Royalties and Taxes	B	-
Total Cash Costs		C=A+B	$         627
Add
	Depreciation, depletion and amortization		66
Total Non-Cash Costs		D	$           66
Total Costs		E=C+D	$         693
Precipitated Uranium and Dried and Drummed Uranium Concentrate (pounds)		F	17,352
Cash Production Costs Per Pound		G=A/F	$      36.13
Production-Based Royalties, Ad Valorem and Severance Tax Per Pound		H=B/F	-
Total Cash Cost Per Pound			$      36.13
Total Non-Cash Cost Per Pound		I=D/F	3.80
Total Cost Per Pound		J=G+H+I	$      39.93

Combined Total Production

(in thousands of dollars, except cost per pound)			Fiscal 2026	Fiscal 2025	Cumulative Since  Beginning of Fiscal 2025
Cash Production Costs		A	$     6,338	$    2,803	$             9,141
Add
	Production-Based Royalties		316	189	505
	Ad Valorem and Severance Tax		1,197	599	1,796
	Total Production-Based Royalties and Taxes	B	1,513	788	2,301
Total Cash Costs		C=A+B	$     7,851	$    3,591	$           11,442
Add
	Depreciation, depletion and amortization		1,306	1,142	2,447
Total Non-Cash Costs		D	$     1,306	$    1,142	$             2,447
Total Costs		E=C+D	$     9,157	$    4,733	$           13,889
Precipitated Uranium and Dried and Drummed Uranium Concentrate (pounds)		F	229,294	129,966	359,260
Cash Production Costs Per Pound		G=A/F	$     27.64	$    21.57	$             25.44
Production-Based Royalties, Ad Valorem and Severance Tax Per Pound		H=B/F	6.60	6.06	6.40
Total Cash Cost Per Pound			$     34.24	$    27.63	$             31.84
Total Non-Cash Cost Per Pound		I=D/F	5.70	8.78	6.81
Total Cost Per Pound		J=G+H+I	$     39.94	$    36.41	$             38.65

Cautionary Statement Regarding Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Where a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. Forward-looking statements often address our expected future business and financial performance and financial condition; and often contain words such as "anticipate," "intend," "plan," "will," "would," "estimate," "expect," "believe," "pending" or "potential." Forward-looking statements in this news release include, without limitation, statements regarding: the Company's expectations for its projects, including proposed studies, anticipated regulatory approvals and planned development and ramp-up activities; expectations regarding uranium markets and demand; the proposed PFS at Roughrider; the Company's plans and goals respecting UR&C and the proposed development of refining and conversion capabilities; and the impacts of governmental initiatives on the Company. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors, which could cause actual results to differ materially. These risks and uncertainties may include, among others: proposed exploration and development activities may not be completed or, if completed, may not produce anticipated results; variations in the underlying assumptions associated with the estimation or realization of mineral resources; the availability of necessary capital; accidents, labor disputes and other risks of the mining industry including, without limitation, those associated with the environment, delays or failure in obtaining governmental approvals or permits, title disputes or claims limitations; any deterioration in political support for nuclear energy or uranium mining; changes in government regulations and policies; changes in demand for nuclear power; weather and other natural phenomena; and the other risk factors set forth in the Company's most recent annual report on Form 10-K and its other filings with the Securities and Exchange Commission, available under its profile at www.sec.gov. These factors are beyond the Company's ability to control or predict. There can be no assurance that the Company's forward-looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release. Any forward-looking statement speaks only as of the date on which it's made and the Company does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events, except as required under applicable securities laws. Investors should not assume that any lack of update to a previously issued forward-looking statement constitutes a reaffirmation of that statement.

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SOURCE Uranium Energy Corp

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much uranium did Uranium Energy produce in fiscal 2026?

Uranium Energy produced 229,294 pounds of precipitated uranium and dried and drummed U3O8 in fiscal 2026. Its total cost was $39.94 per pound, and its total cash cost was $34.24 per pound.

What uranium inventory did Uranium Energy hold at fiscal year-end?

Uranium Energy held 1,256,000 pounds of U3O8 as of July 31, 2026, valued at $109 million at the market price used for that date. That figure excluded 359,260 pounds of precipitated uranium and dried and drummed U3O8 at its Irigaray and Hobson processing plants.

What is the status of Uranium Energy's response to the NNSA uranium request?

Uranium Energy responded to an information request from the National Nuclear Security Administration. The request outlined a need for 4 million pounds of unobligated U.S.-origin U3O8 per year, with deliveries as early as 2030. The company said it is positioned to support that requirement as production in Texas and Wyoming ramps up.

When does Uranium Energy expect Sweetwater permitting milestones?

The federal permitting dashboard expects completion of Sweetwater's Environmental Assessment in March 2027 and approval of its Plan of Operations in May 2027. These are projected dates, not completed approvals.