Energy Fuels Inc. (0UU0) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for standing by. At this time, I would like to welcome everyone to the Energy Fuels Annual Earnings Conference Call and Webcast. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, press star one again. I would now like to turn the conference over to Mark Chalmers, CEO of Energy Fuels. Sir, the floor is yours. Okay. Well, thank you, Morgan. And, again, my name is Mark Chalmers, CEO of Energy Fuels. Thank you for joining the call today to discuss our financial and operational results for year ending December 31st, 2025. 2025 was truly a breakout year for Energy Fuels. We achieved numerous operational ramp-up growth milestones, and we believe set the stage for significant future cash flow generation, market differentiation, and competitive advantages in the critical materials space. We also believe that we are showing the market that we have the financial, technical, commercial capabilities to execute our aggressive plans. I'm just going to touch on a few highlights. In short, we exceeded guidance on all fronts in 2025. Not many in the uranium space can say that, and we even upgraded our guidance during the course of the year, and we beat that guidance. We mined, newly mined ore, over 1.7 million pounds of uranium, and we processed over one million pounds of finished U-308. It's important to note that there's a bit of a lead lag between when we mine and we process. So really, the processing has to catch up with the amount of uranium we mine. And we also started ramping up our sales volumes. Looking to 20...