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Sep 30
Burford Capital Ltd Q3 2025 Earnings Report
enCore Energy narrowed its net loss in Q3 2025 as uranium extraction volumes increased and contract deliveries remained strong.
Key Takeaways
enCore Energy posted improved financial results in Q3 2025 with increased uranium extraction and deliveries, reduced net loss, and a strong cash position exceeding $100 million. The company continued advancing key projects, including the Dewey Burdock ISR project, now part of the federal FAST-41 program.
Net loss per share improved to $(0.03), compared to $(0.09) in Q3 2024
Delivered 130,000 pounds of uranium at $68.28 per pound
Extracted 227,070 pounds of uranium in Q3 2025, up 11.4% QoQ
Ended the quarter with $100.3 million in cash and equivalents
Burford Capital Ltd
Burford Capital Ltd
Forward Guidance
enCore Energy expects continued production growth and is focused on advancing the Dewey Burdock project with federal support while maintaining strong cash reserves.
Positive Outlook
- Strong Q3 uranium extraction supports future sales
- Inclusion of Dewey Burdock in FAST-41 expedites permitting
- Cash balance exceeds $100M, providing operational flexibility
- No forecasted uranium purchases for 2025
- Strategic position as a leading domestic uranium producer
Challenges Ahead
- No revenues reported beyond uranium delivery
- Development timelines dependent on regulatory approvals
- Operating income not specified or reported
- Non-GAAP metrics require reconciliation in future filings
- Commodity price fluctuations may affect margins