[8-K] Ur-Energy Inc. Reports Material Event

Rhea-AI Filing Summary

LiveOne, Inc. (NASDAQ: LVO) has filed its Form 10-K for the fiscal year ended March 31 2025. The filing describes a multi-faceted media company built around four core operations: (1) the LiveOne live music streaming platform, (2) the Slacker audio membership service, (3) PodcastOne, and (4) Custom Personalization Solutions (CPS) for merchandising. Management groups PodcastOne and Slacker into an Audio Group, while all other units form the Media Group.

Business scale & reach

• PodcastOne distributes more than 300 episodes weekly across 200 exclusive shows, reaching over 1 billion monthly listeners and generating 204 million downloads in FY 2025.
• Slacker powers both the consumer LiveOne app and numerous OEM integrations (e.g., Tesla, Verizon, T-Mobile). One single OEM customer represented ≈45 % of consolidated FY 2025 revenue.
• LiveOne owns or has pending 46 patents related to streaming technology and holds 25+ trademarks.

Revenue model: income is derived from (i) membership subscriptions (~50 % of FY25 revenue), (ii) advertising and sponsorships tied to music, livestreams and podcasts, (iii) pay-per-view events, and (iv) e-commerce merchandising via CPS.

Strategic initiatives

• Continued expansion of proprietary CMS and analytics to improve ad targeting and creator reporting.
• Launch of PodcastOne TV FAST channel and Adori visual podcast integration to open incremental video ad inventory.
• Growth of a pay-per-view platform for digital-only concerts, introduced during the COVID-19 period.
• Regular production of in-house franchises such as Music Lives, Self Made and the Breakout Awards.

Risks & controls

• The report contains a going-concern warning; ongoing operations depend on additional capital or financing.
• Significant customer concentration (one OEM at 45 %/51 % of revenue in FY25/FY24).
• No auditor attestation of internal control over financial reporting (non-accelerated filer exemption).
• LiveOne is not classified as a shell company; 97.1 million common shares were outstanding on 11 July 2025; public float value at 30 Sep 2024 was ≈$73 million.

Human capital: 113 employees at year-end with benefit programs (health, 401(k), EAP) and diversity initiatives. Remote-work flexibility adopted during COVID-19.

Regulatory landscape: the company licenses music through BMI, ASCAP, SoundExchange and operates under the Music Modernization Act. It notes compliance with FCPA, privacy regulations and multiple copyright regimes.

Forward look: management intends to combine live events, audio streaming and merchandising into a “flywheel” that monetises superfans; however, execution hinges on access to capital and maintaining content rights.

Insights

Equity Research Analyst

TL;DR – Diversified media platform with attractive podcast scale, but going-concern flag and heavy customer concentration temper outlook.

The filing confirms that LiveOne has stitched together valuable assets: Slacker’s OEM relationships deliver recurring audio revenue, and PodcastOne’s billion-listener reach provides leverage for programmatic advertising and FAST-channel expansion. Ownership of 46 patents and 25+ trademarks offers technical moat. Still, the auditor’s going-concern language, a single OEM representing 45 % of sales, and limited public float signal high financing and liquidity risk. Until management secures longer-term funding and broadens its revenue base, I view the disclosure as neutral-to-slightly negative for equity holders.

Media Industry Specialist

TL;DR – Strategic shift to integrated live-audio-merch ecosystem is logical; success depends on capital and rights stability.

LiveOne positions itself as the ‘everything hub’ for superfans—live concerts, radio, podcasts and branded merchandise. The PodcastOne spin-out demonstrates capital-markets creativity while retaining distribution synergies. Patented offline mode and carrier billing further differentiate the mobile offering. Yet the company’s reliance on festival owners, labels and one dominant OEM exposes it to renewal-risk and royalty cost inflation. Absent concrete FY25 financial statements in this excerpt, the investor impact skews neutral pending visibility on profitability and cash burn.

00-00000000001375205false00013752052025-07-152025-07-15

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

Current Report

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 15, 2025

UR-ENERGY INC.

(Exact name of registrant as specified in its charter)

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Canada	001-33905	Not applicable
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(I.R.S. Employer Identification Number)
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​	10758 W Centennial Road, Suite 200	​
​	Littleton, Colorado	80127
​	(Address of principal executive offices)	(Zip code)
Registrant’s telephone number, including area code: (720) 981-4588

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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 (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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

Title of each class:		Trading Symbol(s)		Name of each exchange on which registered:
Common Stock	​	URG (NYSE American): URE (TSX)	​	NYSE American; TSX

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2 of this chapter).

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. ☐

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Item 2.02 Results of Operations and Financial Condition.

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On July 15, 2025, Ur-Energy Inc. (the “Company”) issued a press release providing an operational update, including updates on Lost Creek production operations and Shirley Basin construction, for 2025 Q2.

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A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

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The information in this Item 2.02 of this Current Report on Form 8-K, including the information set forth in Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing by the company under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

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Item 9.01Financial Statements and Exhibits.

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(d)Exhibits.

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Exhibit No.	​	​ Description
99.1	​	Press release of Ur-Energy Inc., dated July 15, 2025, providing an operational update, including updates on Lost Creek production operations and Shirley Basin construction, for 2025 Q2.*
104	​	Cover Page Interactive Data File (embedded within the Inline XBRL document)

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*This Exhibit is intended to be furnished to, not filed with, the SEC pursuant to General Instruction B.2 of Form 8-K.

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SIGNATURE

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.

Date: July 15, 2025

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​	Ur-Energy Inc.
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​	By:	/s/ Penne A. Goplerud
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​	​	Name:	Penne A. Goplerud
​	​	Title:	Corporate Secretary and General Counsel

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