The preliminary Q2 results are weak but expected given the transitional quarter. The key catalyst is the commencement of Hanford treatment in Q3 and the ramp of DFLAW receipts. Monitor the full Q2 10-Q for cash burn rate and any going concern update. The DOE grouting strategy could be a multi-year revenue driver if formalized.
Price Chart
Executive Summary
Perma-Fix reports preliminary Q2 2026 results with ~$13M revenue and ~$6M net loss, still reflecting delays in Hanford treatment and project starts. However, backlog grew 29% to $15.7M, Hanford DFLAW receipts began post-quarter, and DOE's new Dual Glass-Plus-Grout strategy explicitly names the company, supporting a potential H2 inflection.
Key Facts
- Preliminary Q2 2026 revenue ~$13M, net loss ~$6.0M
- Treatment-related backlog increased 29% to ~$15.7M as of June 30, 2026
- PFNW facility began receiving Hanford ETF waste in Q2 and DFLAW liquid effluent in early July
- DOE announced Hanford Dual Glass-Plus-Grout Strategy, naming Perma-Fix as a participant
- Company closed $21M underwritten public offering on May 18, 2026 to fund DFLAW and grouting upgrades
- Services segment backlog over $17M over next year from multiple DOE and commercial contract awards
Financial Impact
Preliminary Q2 revenue ~$13M (vs Q1 $11.1M) and net loss ~$6M (improved from Q1 $7.5M loss), but still well below profitability. Backlog growth and Hanford milestones are positive but not yet reflected in financials.
Risk Factors
- Going concern disclosure from Q1 remains; cash burn continues with $6M quarterly loss
- Hanford treatment delays could push revenue inflection further into H2
- Government funding uncertainty for DOE remediation programs
- Dilution from $21M offering may pressure EPS
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001493152-26-034944 |
| Document: 0001493152-26-034944-index-headers.html | 0001493152-26-034944 |
| Document: 0001493152-26-034944-index.html | 0001493152-26-034944 |
| Document: 0001493152-26-034944.txt | 0001493152-26-034944 |
| 8-K Data (Synthetic) | 0001493152-26-034944 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 22, 2026 5w ago | 8-K | $16.53 $15.79 | ▼ −4.48% | ▼ −3.76% | $12.59 (−23.87%) |
Jul 28, 2026 13w ago | 8-K | $16.64 $15.87 | ▼ −4.63% | ▼ −3.09% | $12.59 (−24.37%) |
Jun 12, 2026 19w ago | DEFA14A | $11.00 $10.50 | ▼ −4.50% | ▼ −6.27% | $12.59 (+14.46%) |
May 18, 2026 23w ago | 8-K | $9.35 $8.61 | ▲ +7.91% | ▲ +7.26% | $12.59 (−34.60%) |
May 15, 2026 23w ago | Press Release | $9.74 $9.35 | ▲ +4.00% | ▲ +3.94% | $12.59 (−29.21%) |
May 14, 2026 23w ago | 424B5 | $9.74 $9.35 | ▲ +4.00% | ▲ +3.94% | $12.59 (−29.21%) |
May 11, 2026 24w ago | 8-K | $11.00 $10.97 | ▲ +0.27% | ▲ +0.14% | $12.59 (−14.41%) |
Apr 8, 2026 28w ago | 8-K | $11.99 $12.14 | ▲ +1.25% | ▲ +1.31% | $12.59 (+4.96%) |
Apr 8, 2026 28w ago | Press Release | $12.23 $11.99 | ▲ +1.96% | ▲ +2.54% | $12.59 (−2.90%) |
Mar 24, 2026 31w ago | Press Release | $10.80 $11.11 | ▲ +2.87% | ▲ +2.30% | $12.59 (+16.53%) |
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