PERMA FIX ENVIRONMENTAL SERVICES INC

Listed Company

PESICIK 0000891532NasdaqNon-AcceleratedSmaller ReportingHazardous Waste ManagementDelawareFY ends Dec 31

Period

FY 2025

Revenue

$61.67M

Net Income

$-13.78M

Total Assets

$88.03M

Equity

$50.14M

Shares Out

18.55M

Op. Cash Flow

$-10.75M

Business

PERMA FIX ENVIRONMENTAL SERVICES INC provides environmental and environmental technology services focused on waste treatment and remediation. It offers hazardous, radioactive, mixed and non-hazardous waste treatment and disposal, PFAS destruction technology, research and development, technical consulting, radiological measurement, health physics, decontamination and decommissioning, and equipment calibration and rental. The company operates through two reporting segments: a Treatment Segment that runs licensed/permitted treatment facilities and an integrated Services Segment supplying technical, nuclear and safety services. Its services serve government and commercial customers in North America and select international markets through direct sales and intermediaries.

Summary from filing dated 2025-03-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	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 revenues	62	59	90	71	72
Cost of goods sold	56	59	73	61	65
Gross profit	6	2,000	16	10	7
Selling, general and administrative expenses	16	14	15	15	13
Research and development	1	1	561,000	336,000	746,000
Loss on disposal of property and equipment	1,000	21,000	77,000	18,000	—
Loss from operations	−12	−16	756,000	−5	−7
Interest income	1	921,000	606,000	99,000	26,000
Interest expense	−230,000	−473,000	—	—	—
Interest expense-financing fees	−84,000	−66,000	−93,000	−61,000	−41,000
Other	261,000	166,000	−11,000	2	−86,000
Loss from continuing operations before taxes	−11	−15	935,000	−4	−3
Income tax expense	—	4	17,000	−378,000	−4
Loss from continuing operations, net of taxes	−11	−20	918,000	—	—
Loss from discontinued operations (Note 8)	−3	−410,000	−433,000	−605,000	−421,000
Net loss	−14	−20	485,000	−4	835,000
Continuing operations - basic	−0.58	−1.3	0.07	−0.24	0.1
Continuing operations - diluted	−0.58	−1.3	0.07	−0.24	0.1
Discontinued operations - basic	−0.17	−0.03	−0.03	−0.05	−0.03
Discontinued operations - diluted	−0.17	−0.03	−0.03	−0.05	−0.03
Net income (loss) per common share - basic	−0.75	−1.33	0.04	−0.29	0.07
Net income (loss) per common share - diluted	−0.75	−1.33	0.04	−0.29	0.07
Basic	18	15	14	13	12
Diluted	18	15	14	13	13

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	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
Cash	12	29	8	2	—
Accounts receivable, net of allowance for credit losses of $309 and $202, respectively	11	12	10	9	11
Unbilled receivables	9	5	8	6	9
Inventories	2	1	1	814,000	680,000
Prepaid and other assets	3	3	4	5	4
Current assets related to discontinued operations	60,000	20,000	13,000	15,000	15,000
Total current assets	36	50	31	24	30
Buildings and land	25	25	24	24	21
Equipment	27	23	23	21	22
Vehicles	411,000	411,000	434,000	442,000	—
Leasehold improvements	8,000	8,000	8,000	23,000	23,000
Office furniture and equipment	1	1	1	1	1
Construction-in-progress	4	3	1	727,000	3
Total property and equipment	58	53	50	48	48
Less accumulated depreciation	−33	−32	−31	−29	−29
Net property and equipment	25	21	19	19	19
Property and equipment related to discontinued operations	146,000	130,000	81,000	81,000	81,000
Operating lease right-of-use assets	1	2	2	2	2
Permits	11	11	10	10	—
Other intangible assets - net	362,000	393,000	461,000	629,000	894,000
Finite risk sinking fund (restricted cash) (Note 13)	13	13	12	12	11
Other assets	1	461,000	370,000	438,000	809,000
Total assets	88	97	79	71	77
Accounts payable	7	6	10	10	12
Accrued expenses	5	5	7	5	5
Disposal/transportation accrual	2	2	1	887,000	1
Deferred revenue	7	7	7	5	6
Accrued closure costs - current	27,000	50,000	79,000	682,000	578,000
Current portion of long-term debt	562,000	550,000	773,000	476,000	393,000
Current portion of operating lease liabilities	416,000	345,000	380,000	416,000	406,000
Current portion of finance lease liabilities	313,000	285,000	291,000	154,000	333,000
Current liabilities related to discontinued operations	270,000	244,000	269,000	362,000	506,000
Total current liabilities	23	22	26	23	26
Accrued closure costs	9	8	8	7	7
Long-term debt, less current portion	1	2	2	563,000	600,000
Long-term operating lease liabilities, less current portion	1	1	2	2	2
Long-term finance lease liabilities, less current portion	619,000	491,000	776,000	318,000	884,000
Long-term liabilities related to discontinued operations	4	945,000	953,000	908,000	677,000
Total long-term liabilities	15	13	13	11	11
Total liabilities	38	35	39	33	37
Commitments and Contingencies (Note 13)	—	—	—	—	—
Preferred Stock, $.001 par value; 2,000,000 shares authorized, no shares issued and outstanding	—	—	—	—	—
Common Stock, $.001 par value; 30,000,000 shares authorized; 18,525,823 and 18,384,879 shares issued, respectively; 18,518,181 and 18,377,237 shares outstanding, respectively	18,000	18,000	14,000	13,000	13,000
Additional paid-in capital	161	160	117	115	114
Accumulated deficit	−111	−97	−77	−77	−74
Accumulated other comprehensive loss	−134,000	−200,000	−100,000	−165,000	−28,000
Less Common Stock in treasury, at cost; 7,642 shares	−88,000	−88,000	−88,000	−88,000	−88,000
Total stockholders equity	50	62	39	38	41
Total liabilities and stockholders equity	88	97	79	71	77

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	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
Depreciation and amortization	2	2	3	2	2
Amortization of debt issuance costs	84,000	65,000	93,000	60,000	40,000
Deferred tax expense	—	4	−66,000	−390,000	−4
Provision for credit losses on accounts receivable	136,000	219,000	45,000	—	—
Issuance of common stock for services	477,000	480,000	477,000	481,000	427,000
Stock-based compensation	818,000	656,000	548,000	408,000	250,000
Accounts receivable	216,000	−2	−403,000	2	−2
Unbilled receivables	−4	3	−2	3	5
Prepaid expenses, inventories and other assets	2	3	5	2	1
Accounts payable, accrued expenses, unearned revenue and other liabilities	−2	−7	665,000	−6	−7
Cash used in continuing operations	−10	−14	7	164,000	−6
Cash used in discontinued operations	−441,000	−597,000	−597,000	−717,000	−521,000
Cash used in operating activities	−11	−15	6	−553,000	−7
Purchases of property and equipment (net of financed amount)	−5	−3	−2	−1	−2
Addition to permits and other intangible assets	−217,000	−675,000	−324,000	—	—
Proceeds from sale of property and equipment	28,000	1,000	—	26,000	17,000
Cash used in investing activities of continuing operations	−5	−4	−2	—	−2
Cash used in discontined operations	−54,000	−51,000	—	—	—
Cash used in investing activities	−5	−4	−2	−997,000	−2
Borrowing on revolving credit	78	99	90	73	75
Repayments of revolving credit borrowings	−78	−99	−90	−73	−75
Proceeds from sale of Common Stock in May and December of 2024, net of offering costs paid	—	42	—	−61,000	6
Payment of offering costs from sale of Common Stock completed in December 2024	−195,000	—	—	−61,000	—
Principal repayment of finance lease liabilities	−308,000	−291,000	−189,000	−860,000	−334,000
Principal repayments of long term debt	−631,000	−832,000	−709,000	−502,000	−440,000
Payment of debt issuance costs	−19,000	−73,000	−175,000	−35,000	−48,000
Proceeds from issuance of Common Stock upon exercise of options/warrant	172,000	292,000	269,000	13,000	—
Cash (used in) provided by financing activities of continuing operations	−981,000	41	2	−921,000	5
Effect of exchange rate changes on cash	13,000	−1,000	8,000	−4,000	−1,000
(Decrease) increase in cash and finite risk sinking fund (restricted cash)	−17	22	6	−2	−3
Interest paid, net of capitalized amount	233,000	478,000	308,000	173,000	230,000
Equipment purchase subject to finance leases	464,000	—	784,000	—	—
Equipment purchase subject to financing	—	406,000	784,000	114,000	29,000
Advance for equipment purchase subject to financing	125,000	—	—	—	—

Filings

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