Perma-Fix revises DFLAW revenue estimates, models $70M

Q: What annual DFLAW revenue estimate does PESI cite?

PESI estimates that the Department of Energy’s estimate of 8,000 cubic meters of annual effluent would equate to approximately $70 million in annual DFLAW-related revenue at full operation. PESI states that the Department of Energy has not revised its estimate.

Q: What DFLAW production assumption supports PESI’s $35 million estimate?

The revised presentation estimates approximately $35 million in annual revenue for approximately 4,000 cubic meters of combined DFLAW waste, assuming DFLAW reaches 50% of production capacity in 2027. The EMF line is included in that combined amount, and production levels could vary.

Q: What 2028 illustrative run rate does PESI show?

The revised presentation shows an illustrative 2028 run rate of approximately $97.4 million.

The revised presentation separates combined DFLAW waste from its EMF component and ties one revenue estimate to a 2027 production-capacity assumption.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

8-K/A

Rhea-AI Filing Summary

PERMA FIX ENVIRONMENTAL SERVICES INC (PESI) revised its September 2026 investor presentation to change how it presents the Direct-Feed Low-Activity Waste (DFLAW) program; the revised presentation supersedes the original.

PESI continues to reference the U.S. Department of Energy’s estimate of 8,000 cubic meters of annual effluent, which the company estimates would equate to approximately $70 million in annual DFLAW-related revenue at full operation. The Department of Energy has not revised its estimate, and timing depends on how quickly DFLAW ramps toward design capacity. A separate estimate shows approximately 4,000 cubic meters of combined DFLAW waste and $35 million in annual revenue, assuming 50% production capacity in 2027; the EMF line is included, not additive, and production levels could vary. The revised presentation also shows an initial 200 East amount of $28.8 million and an illustrative 2028 run rate of $97.4 million.

Filing Explained

The revised table’s revenue estimates use base-rate pricing for standard waste; waste with higher organics, metals, or radioactivity carries higher pricing.

8-K Event Classification

2 items: 8.01, 9.01

2 items

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Annual effluent estimate: 8,000 cubic meters Estimated annual DFLAW-related revenue: Approximately $70 million Combined DFLAW waste: Approximately 4,000 cubic meters +3 more

6 metrics

Annual effluent estimate 8,000 cubic meters Department of Energy estimate for the site

Estimated annual DFLAW-related revenue Approximately $70 million At full operation, based on the Department of Energy effluent estimate

Combined DFLAW waste Approximately 4,000 cubic meters Effluent Management Facility effluent and dry waste

Estimated annual DFLAW revenue Approximately $35 million Assumes DFLAW reaches 50% of production capacity in 2027

Initial 200 East amount Approximately $28.8 million Revised amount using a consistent pricing assumption across the volumes shown

Illustrative run rate Approximately $97.4 million 2028 illustrative run rate shown in the revised presentation

Key Terms

Direct-Feed Low-Activity Waste, Effluent Management Facility, design capacity, illustrative run rate, +1 more

5 terms

Direct-Feed Low-Activity Waste technical

"Direct-Feed Low-Activity Waste (DFLAW) program"

Direct-feed low-activity waste is a cleanup approach that moves relatively low-radioactivity liquid waste from storage tanks straight into a treatment system for immobilization, rather than running it through lengthy interim processing steps. For investors, it matters because choosing this faster, simpler route can shrink cleanup timelines and costs but increases reliance on a single treatment path and regulatory approvals, so it creates concentrated schedule, technical and contract risk—like betting a project on one main bridge instead of several small roads.

Effluent Management Facility technical

"Effluent Management Facility (EMF) effluent"

design capacity technical

"ramps toward design capacity"

illustrative run rate financial

"2028 illustrative run rate shown on slide 16"

base rate pricing financial

"base rate pricing for standard waste"

FAQ

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

What annual DFLAW revenue estimate does PESI cite?

PESI estimates that the Department of Energy’s estimate of 8,000 cubic meters of annual effluent would equate to approximately $70 million in annual DFLAW-related revenue at full operation. PESI states that the Department of Energy has not revised its estimate.

What DFLAW production assumption supports PESI’s $35 million estimate?

The revised presentation estimates approximately $35 million in annual revenue for approximately 4,000 cubic meters of combined DFLAW waste, assuming DFLAW reaches 50% of production capacity in 2027. The EMF line is included in that combined amount, and production levels could vary.

What 2028 illustrative run rate does PESI show?

The revised presentation shows an illustrative 2028 run rate of approximately $97.4 million.

What changed in PESI’s 200 East revenue presentation?

The 200 East lines were combined, and the initial 200 East amount was revised to approximately $28.8 million to reflect a consistent pricing assumption across the volumes shown. The table assumes base rate pricing for standard waste; waste with higher organics, metals or radioactivity carries higher pricing.

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

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Available on EDGAR 09/23/2026 - 11:53 AM Accepted by SEC EDGAR 09/23/2026 - 11:52 AM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K/A

Amendment No. 1

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported) September 22, 2026

PERMA FIX ENVIRONMENTAL SERVICES INC

PERMA-FIX ENVIRONMENTAL SERVICES, INC.

(Exact name of registrant as specified in its charter)

Delaware

1-11596

58-1954497

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

8302 Dunwoody Place, Suite 250, Atlanta, Georgia		30350
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (770) 587-9898

Not applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class		Trading Symbol		Name of each exchange on which registered
Common Stock, Par Value, $.001 Per Share		PESI		Nasdaq Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐

Item 8.01 – Other Events.

On September 22, 2026, Perma-Fix Environmental Services, Inc. (the “Company”) filed a Current Report on Form 8-K that included as Exhibit 99.1 the Company’s “Investor Presentation, September 2026” (the “Original Presentation”). The Company is filing this Current Report on Form 8-K/A to provide a revised version of that presentation (the “Revised Presentation”), which is attached to this Report as Exhibit 99.1 and incorporated herein by reference.

The Revised Presentation revises the Company’s presentation of the Direct-Feed Low-Activity Waste (“DFLAW”) program on slides 9 and 16. Following investor inquiries, the Company concluded that the Original Presentation did not adequately portray the values it was intended to present. Slide 9 now states that the Company continues to reference the U.S. Department of Energy’s (“DOE”) estimate of 8,000 cubic meters of effluent generated annually at the site, which the Company estimates would equate to approximately $70 million in annual DFLAW-related revenue at full operation, that DOE has not revised that estimate, and that timing depends on how quickly DFLAW ramps toward design capacity.

On slide 16, the DFLAW lines have been revised to present combined DFLAW waste (Effluent Management Facility (“EMF”) effluent and dry waste) of approximately 4,000 cubic meters, estimated at approximately $35 million of annual revenue, based on an assumption that DFLAW reaches 50% of production capacity in 2027. The DFLAW - EMF line is a component of that amount and is not additive, and production levels at DFLAW could vary and are not known at this time. The 200 East lines have been combined, and the initial 200 East amount has been revised to approximately $28.8 million to reflect a consistent pricing assumption across the volumes shown. The table states that revenue assumes base rate pricing for standard waste, with waste having higher organics, metals or radioactivity carrying higher pricing. As revised, the 2028 illustrative run rate shown on slide 16 is approximately $97.4 million.

The Revised Presentation supersedes the Original Presentation and is posted to the Company’s website.

The Revised Presentation contains forward-looking statements, which are subject to the cautionary statements included in the Revised Presentation and the risk factors described in the Company’s filings with the Securities and Exchange Commission.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits.

Exhibit		Description

99.1		Perma-Fix Environmental Services, Inc. Investor Presentation, September 2026 (Revised).

104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: September 23, 2026