U
UR-ENERGY INC
URGCIK 0001375205NYSENon-AcceleratedSmaller ReportingGold And Silver OresZ4CAFY ends Dec 31
Period
FY 2025
Revenue
$27.21M
Net Income
$-74.90M
Total Assets
$272.46M
Equity
$77.45M
Shares Out
397.33M
Op. Cash Flow
$-43.13M
Business
UR-ENERGY INC is engaged in uranium mining, recovery and processing, including acquisition, exploration, development and operation of uranium mineral properties using in situ recovery (ISR) techniques. The company captures, concentrates, dries and packages uranium oxide (U3O8 or yellowcake) and provides related processing, restoration and water treatment services. Its operations are organized around material projects and subsidiaries, notably the Lost Creek Project (operated through Lost Creek ISR, LLC) and the Shirley Basin Project, plus exploration-stage properties held by NFU Wyoming and Pathfinder. Ur-Energy markets and delivers packaged yellowcake primarily in the United States through term sales agreements, sales to government programs, and potential toll-processing arrangements, transporting product by truck to conversion facilities.
Summary from filing dated 2025-04-11
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Sales | 27 | 34 | 18 | 19,000 | 16,000 | |
| Cost of sales | −27 | −43 | −19 | −7 | −7 | |
| Gross profit (loss) | 74,000 | −9 | −2 | −7 | −7 | |
| Operating costs | −69 | −54 | −29 | −13 | −10 | |
| Operating profit (loss) | −69 | −63 | −31 | −20 | −17 | |
| Interest income | 2 | 4 | — | — | — | |
| Interest expense | −2 | −336,000 | — | — | — | |
| Mark to market gain (loss) | −6 | 6 | −2 | — | — | |
| Foreign exchange gain (loss) | −26,000 | 80,000 | 325,000 | 27,000 | −355,000 | |
| Other income (loss) | 172,000 | 35,000 | −24,000 | 1 | 905,000 | |
| Net income (loss) | −75 | −53 | −31 | −17 | −23 | |
| Foreign currency translation adjustment | −145,000 | 471,000 | −547,000 | 123,000 | 435,000 | |
| Comprehensive income (loss) | −75 | −53 | −31 | −17 | −23 | |
| Basic (per share) | −0.2 | −0.17 | −0.12 | −0.08 | −0.12 | |
| Diluted (per share) | −0.2 | −0.17 | −0.12 | −0.08 | −0.12 | |
| Basic (shares) | 368 | 318 | 260 | 220 | 196 | |
| Diluted (shares) | 368 | 318 | 260 | 220 | 196 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2023 2023-09-30 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 124 | 76 | 60 | — | 33 | |
| Trade receivables | — | 17 | 0 | — | — | |
| Inventory | 24 | 21 | 3 | — | 10 | |
| Prepaid expenses and other current assets | 2 | 2 | 1 | — | 1 | |
| Current portion of lease receivables (net) | 708,000 | 354,000 | 77,000 | — | — | |
| Total current assets | 150 | 115 | 64 | — | 44 | |
| Lease receivables (net) | 2 | 1 | 208,000 | — | — | |
| Restricted cash and cash equivalents | 11 | 11 | 9 | — | 8 | |
| Mineral properties (net) | 44 | 39 | 35 | 35 | 36 | |
| Capital assets (net) | 50 | 27 | 21 | — | 20 | |
| Capped call derivative | 15 | — | — | — | — | |
| Total non-current assets | 122 | 79 | 65 | — | 64 | |
| Total assets | 272 | 194 | 128 | — | 108 | |
| Accounts payable and accrued liabilities | 10 | 4 | 2 | — | 1 | |
| Inventory derivative obligation (net) | 17 | 14 | 0 | — | — | |
| Current portion of financing lease liabilities | 484,000 | 309,000 | 162,000 | — | — | |
| Environmental remediation accrual | 164,000 | 63,000 | 69,000 | — | 69,000 | |
| Total current liabilities | 28 | 19 | 10 | — | 7 | |
| Long-term debt | 66 | — | — | — | — | |
| Conversion option derivative | 52 | — | — | — | — | |
| Warrant liability | 2 | 3 | 12 | — | 2 | |
| Asset retirement obligations | 44 | 37 | 31 | — | 31 | |
| Financing lease liabilities | 1 | 931,000 | 687,000 | — | — | |
| Stock option liabilities | 1 | 2 | 0 | — | — | |
| Total non-current liabilities | 167 | 42 | 43 | — | 39 | |
| Commitments and contingencies | — | — | — | — | — | |
| Share capital | 433 | 413 | 302 | — | 259 | |
| Contributed surplus | 20 | 19 | 20 | — | — | |
| Accumulated other comprehensive income | 4 | 4 | 4 | — | 4 | |
| Accumulated deficit | −379 | −304 | −251 | — | −220 | |
| Total shareholders' equity | 77 | 133 | 75 | — | 62 | |
| Total liabilities and shareholders' equity | 272 | 194 | 128 | — | 108 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net income (loss) | −75 | −53 | −31 | −17 | −23 | |
| Stock based compensation | 2 | 2 | 1 | 1 | 1 | |
| Borrowed inventory included in cost of sales | — | 19 | 0 | — | — | |
| Payment of deposit on borrowed inventory | — | −4 | 0 | — | — | |
| Net realizable value adjustments | 3 | 6 | 11 | 7 | 7 | |
| Amortization of mineral properties | 2 | 387,000 | 814,000 | 1 | 2 | |
| Depreciation of capital assets | 4 | 3 | 2 | 2 | 2 | |
| Accretion of asset retirement obligations | 1 | 760,000 | 497,000 | 460,000 | 486,000 | |
| Amortization of debt discount | 459,000 | 33,000 | — | — | — | |
| Provision for reclamation | 101,000 | −6,000 | 0 | −2,000 | −5,000 | |
| Loss (gain) on sale of assets | 225,000 | — | — | — | — | |
| Unrealized foreign exchange gain | 28,000 | −80,000 | −319,000 | −25,000 | 353,000 | |
| Trade receivables | 17 | −17 | 0 | −4,000 | −4,000 | |
| Inventory | −6 | −24 | −3 | −9 | −7 | |
| Lease receivables | 770,000 | −1 | −285,000 | — | — | |
| Prepaid expenses and other current assets | 791,000 | −251,000 | −178,000 | −140,000 | −84,000 | |
| Accounts payable and accrued liabilities | 1 | 2 | 991,000 | −2 | 544,000 | |
| Net cash provided by (used in) operating activities | −43 | −72 | −17 | −18 | −12 | |
| Purchase of capital assets | −24 | −9 | −2 | −709,000 | −1 | |
| Net cash provided by (used in) investing activities | −24 | −9 | −2 | −709,000 | −1 | |
| Issuance of common shares for cash | 16 | 98 | 53 | 4 | 49 | |
| Share issue costs | −399,000 | −5 | −3 | −94,000 | −2 | |
| Proceeds from convertible notes issuance | 120 | — | — | — | — | |
| Convertible notes financing costs | −5 | — | — | — | — | |
| Purchase of capped call | −17 | — | — | — | — | |
| Proceeds from exercise of warrants and stock options | 2 | 12 | 2 | 4 | 9 | |
| RSU redeemed for cash | −109,000 | −60,000 | −69,000 | −205,000 | −289,000 | |
| Changes in financial lease liability | −692,000 | 391,000 | 0 | — | — | |
| Repayment of long-term debt | — | −6 | −5 | −1 | 0 | |
| Net cash provided by (used in) financing activities | 115 | 100 | 46 | 6 | 55 | |
| Effects of foreign exchange rate changes on cash | 86,000 | −97,000 | 45,000 | −108,000 | 45,000 | |
| Increase (decrease) in cash and cash equivalents, and restricted cash and cash equivalents | 48 | 19 | 27 | −13 | 42 |
Filings
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