Perma-fix Environmental reports Q2 EPS (15c) vs. (27c) last year

Reports revenue $14.6M vs. $13.9M last year. Mark Duff, President and CEO of the Company, commented, “We delivered both sequential and year-over-year revenue growth in the second quarter, accompanied by improved gross margin-reflecting continued progress on our operational initiatives. Treatment Segment revenue increased approximately 37.0% year-over-year, although results were tempered by technical challenges that limited production early in the quarter. We believe that these issues have been resolved through automation and process enhancements, and we expect to realize benefit of these improvements in the second half of the year. Notably, waste receipts more than doubled in Q2 2025 to approximately 14.0 million from Q2 2024. We expect this increase in waste receipts will contribute to a strong backlog through the remainder of 2025. While the U.S Department of Energy recently announced a delay in the startup of the Direct-Feed Low-Activity Waste facility from August 1 to as late as October 15, 2025, we remain encouraged by the long-term outlook for this program and the additional revenue and cash flow it is expected to generate for us, once operational. Our Services Segment was also affected by project delays during the first half of the quarter due to procurement timing and administrative transitions. We are, however, seeing renewed momentum in this segment. Notably, we were awarded a position on the Navy’s RADMAC III Indefinite Delivery, Indefinite Quantity contract, which directly aligns with our core competencies and is expected to present a steady stream of task order bid opportunities in the coming quarters. We continue to execute our long-term growth strategy, including scaling our Per- and polyfluoroalkyl substances destruction platform. We’ve expanded infrastructure investment, broadened customer engagement, and begun construction of our next-generation Gen 2.0 system in Oak Ridge, which is designed for higher daily throughput and future field deployment. With a growing pipeline of PFAS demonstrations and commercial opportunities, we are encouraged by our early traction, and we believe in our ability to offer a cost-effective, scalable solution to the market. With improving production capabilities, including progress in our PFAS initiatives, a growing backlog, continued discipline on cost and margin, and strategic wins across our Treatment and Services Segments, we believe Perma-Fix is positioned for improved results in the second half of 2025 and beyond.”