Energy Fuels Inc. reported total revenues of $78.114 million for the year ended December 31, 2024, a significant increase from $37.928 million in 2023. This growth was driven by $39.874 million in heavy mineral sands revenues and $37.904 million in uranium concentrates revenues.
Despite the revenue increase, the company posted a net loss of $47.765 million for 2024, compared to a net income of $99.862 million in 2023. Basic and diluted net loss per common share was $0.28. Working capital decreased by 23% to $170.898 million at year-end 2024.
Key achievements in 2024 included the resumption of U.S. uranium mining, profitable uranium sales, and the achievement of commercial U.S. rare earth production. Energy Fuels also secured two 'Tier 1' critical mineral projects, Toliara and Donald, which are expected to provide low-cost rare earth feedstocks to its U.S. processing plant.
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