--- title: "Encore Energy | 10-Q: FY2026 Q1 Revenue: USD 18.3 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/286456418.md" datetime: "2026-05-14T19:17:10.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286456418.md) - [en](https://longbridge.com/en/news/286456418.md) - [zh-HK](https://longbridge.com/zh-HK/news/286456418.md) --- # Encore Energy | 10-Q: FY2026 Q1 Revenue: USD 18.3 M Revenue: As of FY2026 Q1, the actual value is USD 18.3 M. EPS: As of FY2026 Q1, the actual value is USD 0.03. EBIT: As of FY2026 Q1, the actual value is USD 11.39 M. enCore Energy Corp. operates as a single reportable segment focused on the extraction, recovery, and sales of uranium, as well as exploration, permitting, and evaluation of uranium properties in the United States. #### Segment Revenue Revenue from uranium sales for the three months ended March 31, 2026, was $18,301 thousand, a 0% increase from $18,239 thousand in the same period of 2025. This was driven by an 8% increase in the realized sales price per pound, reaching $67.78/lb in 2026, up from $62.89/lb in 2025, which offset a 7% decrease in sales volume from 290,000 lbs to 270,000 lbs. #### Operational Metrics - **Cost of Sales:** Increased by 1% to $18,365 thousand in 2026, from $18,262 thousand in 2025, with the weighted average cost applicable to revenues increasing by 8% from $62.97/lb to $68.02/lb. - **Gross Profit (Loss):** The company reported a gross loss of -$64 thousand for the three months ended March 31, 2026, compared to a gross loss of -$23 thousand in 2025. - **Operating Expenses:** Significantly decreased to -$10,021 thousand in 2026 from $15,603 thousand in 2025, primarily due to a $34,438 thousand gain on the sale of mineral properties. - **Mineral Property Expenditures:** Rose from $5,544 thousand in 2025 to $10,660 thousand in 2026. - **General and Administrative Expenses:** Increased from $8,032 thousand in 2025 to $10,153 thousand in 2026. - **Operating Income (Loss):** Operating income was $9,957 thousand in 2026, a substantial improvement from an operating loss of -$15,626 thousand in 2025. - **Interest Income:** Increased by 38% to $386 thousand in 2026 from $279 thousand in 2025. - **Interest Expense:** Rose by 425% to -$1,815 thousand in 2026 from -$346 thousand in 2025, mainly due to new Convertible Senior Notes. - **Realized Gain on Marketable Securities:** $3,840 thousand in 2026, with no gain in 2025. - **Unrealized Losses on Marketable Securities:** -$10,048 thousand in 2026, consistent with -$9,876 thousand in 2025. - **Net Income (Loss) Before Income Taxes:** $2,320 thousand in 2026, a significant improvement from a net loss of -$25,569 thousand in 2025. - **Net Income (Loss) Attributable to enCore Energy Corp.:** $5,404 thousand in 2026, compared to a net loss of -$24,243 thousand in 2025. #### Cash Flow - **Net Cash Used in Operating Activities:** Increased to -$21,426 thousand in 2026 from -$7,735 thousand in 2025, largely due to an increase in inventories and prepaid expenses. - **Net Cash Used in Investing Activities:** Decreased to -$5,971 thousand in 2026 from -$7,710 thousand in 2025, driven by increased exploration costs and net purchase/sale of marketable securities. - **Net Cash Provided by Financing Activities:** Increased to $17,947 thousand in 2026 from $5,422 thousand in 2025, primarily from proceeds received from warrant exercises. #### Unique Metrics: Uranium Production and Inventory Costs - **Q1 2026 Sales:** 180,000 lbs of purchased inventory were sold at a cost of $14,187 thousand ($78.82/lb), and 90,000 lbs of extracted uranium were sold at a cost of $4,178 thousand ($46.43/lb). - **Q1 2025 Sales:** 216,289 lbs of purchased inventory were sold at $14,900 thousand ($68.89/lb), and 73,711 lbs of extracted uranium were sold at $3,362 thousand ($45.62/lb). - **Inventory on Hand (March 31, 2026):** Total inventory was 153,956 lbs at a cost of $9,934 thousand ($64.52/lb), including 70,000 lbs of purchased inventory at $5,603 thousand ($80.04/lb) and 83,956 lbs of extracted uranium at $4,331 thousand ($51.59/lb). #### Future Outlook and Strategy enCore Energy Corp. aims to expand its uranium extraction capacity by developing and operating facilities in South Texas, with future exploration projects planned for South Dakota and Wyoming, to become a leading domestic uranium supplier. The company’s sales strategy balances income from contracts with flexibility for strong short-term market conditions, anticipating further cost efficiencies as additional wellfield patterns come online and economies of scale improve. The company believes its available cash, expected operating cash flows, or equity/debt financings will provide sufficient funds for operations and debt service for the next twelve months and beyond. ### Related Stocks - [EU.US](https://longbridge.com/en/quote/EU.US.md) ## Related News & Research - [Northland Securities Remains a Buy on enCore Energy (EU)](https://longbridge.com/en/news/278897788.md) - [SUNation Energy GAAP EPS of -$1.20, revenue of $7.2M](https://longbridge.com/en/news/286614972.md) - [Valeura Energy Inc Announces First Quarter 2026 Results | VLERF Stock News](https://longbridge.com/en/news/286367018.md) - [OS Therapies to Announce First Quarter 2026 Financials on Monday, May 18, 2026 | OSTX Stock News](https://longbridge.com/en/news/286607728.md) - [Clearway Energy, Inc. Announces General Counsel Transition | CWEN Stock News](https://longbridge.com/en/news/286549541.md)