While near-term losses persist, the significant backlog growth, expanded permitting, and anticipated ramp-up in Hanford-related waste volumes suggest potential inflection in 2026. Traders should monitor Q1 2026 for signs of margin expansion and revenue acceleration as DFLAW operations commence.
Price Chart
Executive Summary
Perma-Fix Environmental Services (PESI) reported mixed financial results for 2025, with full-year revenue up 4.4% to $61.7 million and gross profit surging from $2K to $6.0 million, driven by a strong turnaround in its Treatment Segment. However, net loss widened to $13.8 million due to a $2.7 million reserve increase at a discontinued operation. The company highlighted progress in Hanford cleanup preparations, a 51% year-over-year increase in treatment backlog to $11.9 million, and 163% growth in international revenue to $6.4 million, positioning for improved performance in 2026.
Key Financial Metrics
Key Facts
- Full-year 2025 revenue: $61.7 million (+4.4% YoY), driven by Treatment Segment growth of 29.0% to $45.1 million
- Gross profit jumped to $6.0 million in 2025 from $2,000 in 2024, with Treatment Segment gross margin improving to 10.6% from (3.2%)
- Net loss widened to $13.8 million in 2025 from $20.0 million in 2024, but included a $2.7 million reserve increase at a discontinued operation
- Services Segment revenue declined 31.4% to $16.6 million due to government project delays and procurement disruptions
- Year-end treatment backlog increased 51% YoY to $11.9 million; international revenue up 163% to $6.4 million
- Perma-Fix Northwest permit renewed, expanding liquid waste capacity to 1.2 million gallons annually
- DFLAW program began hot commissioning in Q4 2025, expected to drive waste volumes in 2026
Financial Impact
Revenue increased by $2.6 million annually; gross profit improved by ~$6 million; $2.7 million one-time reserve charge impacted net loss
Risk Factors
- Continued government procurement delays and policy changes could impact Services Segment
- Execution risk in scaling operations to meet anticipated Hanford waste volumes
- PFAS technology commercialization remains in early stages with uncertain near-term revenue contribution
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3261054 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 22, 2026 4w ago | 8-K | $16.53 $15.79 | ▼ −4.48% | ▼ −3.76% | $12.13 (−26.62%) |
Jul 28, 2026 12w ago | 8-K | $16.64 $15.87 | ▼ −4.63% | ▼ −3.09% | $12.13 (−27.10%) |
Jun 12, 2026 19w ago | DEFA14A | $11.00 $10.50 | ▼ −4.50% | ▼ −6.27% | $12.13 (+10.32%) |
May 18, 2026 23w ago | 8-K | $9.35 $8.61 | ▲ +7.91% | ▲ +7.26% | $12.13 (−29.73%) |
May 15, 2026 23w ago | Press Release | $9.74 $9.35 | ▲ +4.00% | ▲ +3.94% | $12.13 (−24.54%) |
May 14, 2026 23w ago | 424B5 | $9.74 $9.35 | ▲ +4.00% | ▲ +3.94% | $12.13 (−24.54%) |
May 11, 2026 24w ago | 8-K | $11.00 $10.97 | ▲ +0.27% | ▲ +0.14% | $12.13 (−10.27%) |
Apr 8, 2026 28w ago | 8-K | $11.99 $12.14 | ▲ +1.25% | ▲ +1.31% | $12.13 (+1.17%) |
Apr 8, 2026 28w ago | Press Release | $12.23 $11.99 | ▲ +1.96% | ▲ +2.54% | $12.13 (+0.82%) |
Mar 24, 2026 30w ago | Press Release | $10.80 $11.11 | ▲ +2.87% | ▲ +2.30% | $12.13 (+12.31%) |
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