ASP Isotopes Inc. SEC Filings

ASP Isotopes Inc. reported strong top-line growth but continued significant losses for the quarter and six months ended June 30, 2026. Total revenue rose to $9.3 million for the first half of 2026 from $2.3 million a year earlier, driven by specialist isotopes, new U.S. radiopharmacy operations and initial helium and LNG sales from the Renergen acquisition, plus collaboration revenue from TerraPower.

Despite higher revenue and gross profit of $3.1 million, the company posted a loss from continuing operations of $60.7 million for the first half and a net loss attributable to shareholders of $40.5 million, reflecting heavy R&D and selling, general and administrative expenses as it builds out isotope, nuclear fuel and gas projects. Operating cash outflow from continuing operations was $40.0 million, and investing outflow was $57.2 million, including major spending on property, natural gas assets and equity investments.

Liquidity remains substantial, with $219.6 million in cash and cash equivalents and $35.3 million in short-term U.S. Treasury investments as of June 30, 2026. Management states this balance should fund operating and capital needs for more than 12 months, though it anticipates raising additional equity, debt or partnership funding over time. The balance sheet also includes $203.4 million of convertible notes carried at fair value and $192.9 million of natural gas properties from Renergen.

ASP Isotopes describes that Tetra4 Proprietary Limited, a subsidiary of its subsidiary Renergen Limited, has signed a new five-year, take-or-pay contract to supply liquified natural gas to a South African food processor at a price per unit of greater than $16/GJ of LNG on an all-in plant-gate basis. The agreement represents about 10% of the Virginia Gas Project's Phase 1 nameplate capacity and, together with earlier contracts, supports roughly 75% of anticipated Phase 1 LNG volumes.

Phase 1 is expected to produce approximately 2,500 GJ/day of LNG and about 70 Mcf/day of liquid helium, with commercial production targeted to begin in the third quarter of 2026. ASP Isotopes states that, assuming LNG prices of $15–18 per GJ and an average helium price of $600/Mcf, Renergen should be capable of generating revenues of over $27 million on an annualized basis following completion of Phase 1, with revenue recognition expected to begin in the second half of 2026. The company also outlines a planned reverse merger of its Noble Africa subsidiary with ENDRA Life Sciences and related SEC registration and proxy processes.

ASP Isotopes Inc. disclosed that it will host investor meetings at Citi's 2026 Natural Resources Conference on August 13, 2026, in Las Vegas, Nevada. The latest investor presentation is available under the Investors tab on the company’s website.

The press release also describes ASP Isotopes’ isotope enrichment technologies and facilities in Pretoria, South Africa, and outlines proposed merger-related transactions involving ENDRA Life Sciences, Renergen and Noble Africa, for which ENDRA plans to file a Form S-4 registration statement with a proxy statement/prospectus. It emphasizes extensive forward-looking statements and risk factors, including funding needs, regulatory approvals, project execution, and the possibility that the proposed transactions may not be completed.

ASP Isotopes updates shareholders on multi‑segment growth plans ahead of releasing Q2 2026 results. Management reports that PET Labs achieved over 50% organic revenue growth in 1H 2026 and forecasts FY 2026 revenue of approximately $14 million, compared with $6 million in 2025, as demand for radiopharmaceuticals rises.

Through Renergen, the company targets helium and LNG revenues of roughly $27 million annually after Phase 1, and over $360 million at Phase 2 nameplate capacity, at stated price assumptions. Phase 2 is expected to be funded in part by about $750 million of senior debt, and ASP Isotopes plans to list Renergen’s holding vehicle Noble Africa on Nasdaq, where it expects to retain roughly 89% ownership if the transactions close.

The update highlights delays but continued technical progress in Silicon‑28 and other stable isotope facilities, a long‑term EBITDA target above $300 million by 2031 from non‑nuclear‑fuel businesses, and strategic plans for Quantum Leap Energy and Alpa Theranostics, including a potential future distribution of QLE equity to ASP Isotopes shareholders, subject to multiple conditions.

ASP Isotopes Inc., an advanced materials company developing isotope enrichment technologies, announced that Chief Commercial Officer Viktor Petkov will present at Canaccord Genuity’s 46th Annual Growth Conference on August 12, 2026, at 8:00 a.m. ET. A live audio webcast and subsequent replay will be available in the Investors section of the company’s website.

The press release also describes proposed merger and related transactions involving ENDRA Life Sciences Inc., ASP Isotopes and its subsidiaries Renergen and Noble Africa, for which ENDRA plans to file a Form S-4 registration statement containing a proxy statement and prospectus. It includes extensive "forward-looking" statements language, highlighting risks around project execution, regulatory approvals, financing, commercialization of isotope technologies, completion of the Proposed Transactions (including approval by ENDRA stockholders), and other factors discussed in ASP Isotopes’ 2025 Annual Report and subsequent SEC reports.

ASP Isotopes Inc. plans to hold a Capital Markets Day in London on September 8, 2026, beginning at 10:00 a.m. ET (3:00 p.m. BST). Leadership intends to provide a comprehensive update on strategic direction and commercial momentum, including nuclear medicine, electronic gases, nuclear fuels, and the long-term market opportunity in each area.

The event will run from 10:00 a.m. to 12:30 p.m. ET with a formal Q&A; in-person attendance is invitation-only, but the public can join via live webcast, with materials and a replay available on the company’s investor relations website. The disclosure is furnished under Regulation FD, not filed.

The communication also describes a proposed merger and related transactions involving ENDRA Life Sciences, Renergen, and Noble Africa, stating that ENDRA intends to file a Form S-4 with a proxy statement/prospectus and urging ENDRA stockholders to review those materials when available. Extensive cautionary language outlines that forward-looking statements, including expectations about the proposed transactions and ASP Isotopes’ projects and regulatory approvals, are subject to numerous risks and uncertainties.

ASP Isotopes Inc., through its wholly owned subsidiary Quantum Leap Energy LLC (QLE), has entered into a research agreement with the Texas A&M Engineering Experiment Station (TEES) to advance and de‑risk the commercial production of high-purity uranium hexafluoride (UF6), a key feedstock in the nuclear fuel enrichment supply chain.

The collaboration will generate fundamental physicochemical data on converting yellowcake uranium (U3O8) into UF6, supporting efforts to improve production technology, reduce costs, and enhance scalability for domestic uranium conversion. QLE is a development-stage nuclear fuels company focused on uranium conversion, U‑235 enrichment (including HALEU, LEU+ and LEU), lithium isotope separation, and radioactive waste treatment, using proprietary Aerodynamic Separation Process and Quantum Enrichment technologies. ASP Isotopes develops isotope enrichment platforms and operates enrichment facilities in Pretoria, South Africa. The announcement includes extensive cautionary language regarding forward-looking statements and related risks.

ASP Isotopes Inc., a Delaware corporation based in Dallas, filed a notice of an exempt securities offering under Regulation D, Rule 506(b). The offering covers equity securities reflecting the exchange of $109,181,606 of aggregate principal plus accrued unpaid interest on convertible promissory notes previously issued by a subsidiary into common stock of ASP Isotopes. The total amount sold is $109,181,606 with $0 remaining to be sold. The issuer reports annual revenues of over $100,000,000 and indicates no finder’s fees were paid.

ASP Isotopes Inc. has registered the resale by certain selling stockholders of 23,160,682 shares of common stock under an automatic shelf registration. These shares were issued in exchange for $109,181,606 of 8% Convertible Promissory Notes due November 19, 2030 of subsidiary Quantum Leap Energy LLC, plus accrued interest, under Securities Exchange Agreements dated July 15, 2026. The company is not selling shares and will not receive any proceeds from these resales, although it will bear registration expenses.

After issuing these shares, common stock outstanding was 153,309,380 as of July 16, 2026, within an authorized capital of 500,000,000 common and 10,000,000 preferred shares. The prospectus also highlights the January 2026 acquisition of Renergen Limited, for which 14,270,000 consideration shares were issued; Renergen operates the Virginia Gas Project producing liquid helium and LNG in South Africa.