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Perma-Fix Q1 2025 Earnings Report
Perma-Fix reported Q1 2025 financial results with increased revenue and improved gross margins, despite transitional headwinds.
Key Takeaways
Perma-Fix Environmental Services, Inc. announced financial results for the first quarter ended March 31, 2025, reporting a modest revenue increase to $13.9 million and a significant improvement in gross profit to $657,000, up from a gross loss in the prior year. The company's PFAS program is gaining momentum with commercial shipments and system upgrades, and it anticipates strong performance in the second half of 2025 driven by growing backlog and strategic investments.
Revenue increased to $13.9 million in Q1 2025, up from $13.6 million in Q1 2024, primarily driven by the Treatment Segment.
Gross profit significantly improved to $657,000 in Q1 2025, compared to a gross loss of $620,000 in Q1 2024, due to higher waste volume and improved project execution.
The company reported a net loss of $3,573,000, or $0.19 per share, for Q1 2025.
Strategic investments in PFAS initiatives and facility readiness for new waste streams impacted near-term profitability but are expected to position the company for stronger performance in the second half of 2025.
Revenue by Segment
Forward Guidance
Perma-Fix anticipates stronger financial performance in the second half of 2025, driven by growing backlog, improved operational discipline, and increasing project visibility across federal, commercial, and international markets. The company expects its PFAS program to be a long-term growth contributor and is prepared to support multiple waste streams from the DFLAW facility.
Positive Outlook
- Stronger financial performance expected in the second half of 2025.
- PFAS program continues to build momentum with first commercial shipments from the Federal Government and key system upgrades.
- Gen 2.0 PFAS system remains on track for Q4 deployment, offering an efficient destruction technology.
- Optimism regarding the hot commissioning program for the U.S. Department of Energy's DFLAW facility, with August 1 commencement anticipated.
- Continued growth in international demand.
Challenges Ahead
- Delays in procurement and waste shipments tied to changes in federal administration limited revenue growth in Q1 2025.
- Higher operating expenses incurred in Q1 2025 related to facility readiness for new waste streams and PFAS scale-up impacted near-term profitability.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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