URANIUM ENERGY CORP Segments Disclosure
| NOTE 22: | SEGMENT INFORMATION |
The Company’s operating segments consist of uranium exploration and mining activities in Wyoming, Texas, Saskatchewan and Others, as well as a corporate segment engaged in investments and the trading of purchased uranium inventory.
Our Chief Executive Officer who is the CODM evaluates performance and allocates resources for all of the Company’s reportable segments based on income (loss) before income taxes. The CODM uses segment income (loss) before income taxes to allocate resources, including decisions related to capital investment in mining operations and potential expansion opportunities. The significant segment expenses reviewed by the CODM are consistent with the operating expense line items presented in the Company’s consolidated statements of operations.
The Company adopted ASU 2023-07, Segment Reporting (Topic 280), on August 1, 2024. The new segment reporting requirement is applied retrospectively to all prior periods presented in these consolidated financial statements. The tables below present financial information for each of the Company’s reportable segments. All intercompany transactions have been eliminated.
| Year ended July 31, 2025 | ||||||||||||||||||||||||
| Mining | Corporate | Total | ||||||||||||||||||||||
| Statement of Operations | Wyoming | Texas | Saskatchewan | Others | ||||||||||||||||||||
| Sales and service revenue | $ | - | $ | - | $ | - | $ | - | $ | 66,837 | $ | 66,837 | ||||||||||||
| Cost of sales and services | - | - | - | - | (42,360 | ) | (42,360 | ) | ||||||||||||||||
| Depreciation, amortization and accretion | (3,485 | ) | (822 | ) | (151 | ) | (7 | ) | (9 | ) | (4,474 | ) | ||||||||||||
| Other operating expenses(1) | (42,895 | ) | (20,707 | ) | (8,491 | ) | (1,190 | ) | (20,041 | ) | (93,324 | ) | ||||||||||||
| Other income (expenses): | ||||||||||||||||||||||||
| Interest expense and finance costs | (1,046 | ) | - | - | (19 | ) | (381 | ) | (1,446 | ) | ||||||||||||||
| Loss from equity-accounted investment | - | - | - | - | (3,352 | ) | (3,352 | ) | ||||||||||||||||
| Fair value loss on equity securities | - | - | - | - | (18,051 | ) | (18,051 | ) | ||||||||||||||||
| Gain on revaluation of derivative liabilities | - | - | - | - | 1,706 | 1,706 | ||||||||||||||||||
| Interest income | - | - | 2 | - | 4,020 | 4,022 | ||||||||||||||||||
| Other items | (109 | ) | (290 | ) | 21 | 4 | 381 | 7 | ||||||||||||||||
| Loss before income taxes | $ | (47,535 | ) | $ | (21,819 | ) | $ | (8,619 | ) | $ | (1,212 | ) | $ | (11,250 | ) | $ | (90,435 | ) | ||||||
| Total assets | $ | 366,177 | $ | 34,849 | $ | 378,517 | $ | 20,883 | $ | 307,227 | $ | 1,107,653 | ||||||||||||
| Equity-accounted investments | $ | - | $ | - | $ | - | $ | - | $ | 55,825 | $ | 55,825 | ||||||||||||
| Capital additions | $ | 191,826 | $ | 3,736 | $ | 273 | $ | 102 | $ | - | $ | 195,937 | ||||||||||||
| Year ended July 31, 2024 | ||||||||||||||||||||||||
| Mining | Corporate | Total | ||||||||||||||||||||||
| Statement of Operations | Wyoming | Texas | Saskatchewan | Others | ||||||||||||||||||||
| Sales and service revenue | $ | 224 | $ | - | $ | - | $ | - | $ | - | $ | 224 | ||||||||||||
| Cost of sales and services | (187 | ) | - | - | - | - | (187 | ) | ||||||||||||||||
| Depreciation, amortization and accretion | (1,584 | ) | (500 | ) | (84 | ) | (4 | ) | (11 | ) | (2,183 | ) | ||||||||||||
| Other operating expenses(1) | (12,609 | ) | (12,208 | ) | (11,706 | ) | (903 | ) | (16,830 | ) | (54,256 | ) | ||||||||||||
| Other income (expenses): | ||||||||||||||||||||||||
| Interest expense and finance costs | (555 | ) | - | - | (19 | ) | (253 | ) | (827 | ) | ||||||||||||||
| Income (loss) from equity-accounted investment | - | - | (1,440 | ) | - | 2,457 | 1,017 | |||||||||||||||||
| Fair value gain (loss) on equity securities | - | - | (37 | ) | - | 27,542 | 27,505 | |||||||||||||||||
| Loss on revaluation of derivative liabilities | - | - | - | - | (8,226 | ) | (8,226 | ) | ||||||||||||||||
| Interest income | - | - | 1 | - | 2,628 | 2,629 | ||||||||||||||||||
| Other items | (30 | ) | (204 | ) | 19 | 10 | 254 | 49 | ||||||||||||||||
| Income (loss) before income taxes | $ | (14,741 | ) | $ | (12,912 | ) | $ | (13,247 | ) | $ | (916 | ) | $ | 7,561 | $ | (34,255 | ) | |||||||
| Total assets | $ | 169,740 | $ | 23,776 | $ | 378,368 | $ | 20,789 | $ | 297,155 | $ | 889,828 | ||||||||||||
| Equity-accounted investments | $ | - | $ | - | $ | - | $ | - | $ | 58,809 | $ | 58,809 | ||||||||||||
| Capital additions | $ | 646 | $ | 408 | $ | 2,281 | $ | 119 | $ | 3 | $ | 3,457 | ||||||||||||
| Year ended July 31, 2023 | ||||||||||||||||||||||||
| Mining | Corporate | Total | ||||||||||||||||||||||
| Statement of Operations | Wyoming | Texas | Saskatchewan | Others | ||||||||||||||||||||
| Sales and service revenue | $ | 439 | $ | - | $ | - | $ | - | $ | 163,950 | $ | 164,389 | ||||||||||||
| Cost of sales and services | (367 | ) | - | - | - | (114,352 | ) | (114,719 | ) | |||||||||||||||
| Depreciation, amortization and accretion | (1,526 | ) | (460 | ) | (3 | ) | (6 | ) | (12 | ) | (2,007 | ) | ||||||||||||
| Other operating expenses(1) | (7,143 | ) | (7,786 | ) | (5,134 | ) | (1,596 | ) | (17,025 | ) | (38,684 | ) | ||||||||||||
| Impairment loss on mineral properties | - | - | (112 | ) | - | - | (112 | ) | ||||||||||||||||
| Other income (expenses): | ||||||||||||||||||||||||
| Interest expense and finance costs | - | - | (563 | ) | (19 | ) | (223 | ) | (805 | ) | ||||||||||||||
| Income (loss) from equity-accounted investment | - | - | (2,062 | ) | - | 1,068 | (994 | ) | ||||||||||||||||
| Fair value loss on equity securities | - | - | (19 | ) | - | (13,064 | ) | (13,083 | ) | |||||||||||||||
| Gain on revaluation of derivative liabilities | - | - | - | - | 3,293 | 3,293 | ||||||||||||||||||
| Interest income | - | - | 36 | - | 314 | 350 | ||||||||||||||||||
| Other items | (545 | ) | (183 | ) | 1,015 | 2 | (354 | ) | (65 | ) | ||||||||||||||
| Income (loss) before income taxes | $ | (9,142 | ) | $ | (8,429 | ) | $ | (6,842 | ) | $ | (1,619 | ) | $ | 23,595 | $ | (2,437 | ) | |||||||
| Total assets | $ | 169,706 | $ | 23,500 | $ | 386,356 | $ | 20,658 | $ | 137,369 | $ | 737,589 | ||||||||||||
| Equity-accounted investments | $ | - | $ | - | $ | - | $ | - | $ | 48,110 | $ | 48,110 | ||||||||||||
| Capital additions | $ | 62 | $ | 355 | $ | 386,684 | $ | 100 | $ | 15 | $ | 387,216 | ||||||||||||
(1) Other operating expenses include mineral property expenditures and general and administrative expenses.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Sep 24, 2025 | Showing above |
| 2024 | Sep 27, 2024 | |
| 2023 | Sep 29, 2023 | |
| 2022 | Sep 29, 2022 | |
| 2021 | Oct 28, 2021 | |
| 2020 | Oct 29, 2020 | |
| 2019 | Oct 15, 2019 | |
| 2018 | Oct 15, 2018 | |
| 2017 | Oct 16, 2017 | |
| 2016 | Oct 14, 2016 | |
| 2015 | Oct 14, 2015 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.