Perma-Fix Environmental Services, Inc. reported a modest increase in consolidated revenue for the fiscal year ending December 31, 2025, totaling $61.7 million, up 4.3% from $59.1 million in 2024. The growth was primarily driven by a significant rebound in the Treatment Segment, which saw revenues rise by 29% to $45.1 million, attributed to higher waste volumes and an improved average price mix. In contrast, the Services Segment experienced a decline in revenue, dropping 31.4% to $16.6 million, largely due to project mobilization delays and procurement issues stemming from changes in federal policies and a partial government shutdown.
Despite the revenue growth, Perma-Fix reported a loss from continuing operations of approximately $10.7 million, an improvement from the $19.6 million loss in the previous year. The gross profit for 2025 was $6 million, reflecting a significant increase compared to the prior year, while selling, general, and administrative expenses rose by 13.3% to $16.4 million. The company noted that its Treatment Segment backlog increased by 50.9% to approximately $11.9 million, indicating potential future revenue opportunities, although the timing of revenue recognition remains uncertain due to operational complexities.
Strategically, Perma-Fix is focusing on expanding its international market presence, with foreign revenue increasing by 162.6% to $6.4 million in 2025. The company is also investing in research and development, particularly in its new PFAS destruction technology, which is expected to enhance its service offerings. The company has made significant upgrades to its Perma-FAS system, achieving commercial operational status, and anticipates deploying a second-generation unit in 2026, which could triple its production capacity.
Operationally, Perma-Fix employed approximately 307 individuals as of December 31, 2025, with a collective bargaining agreement in place for a portion of its workforce. The company continues to face challenges related to federal government contracts, which account for a substantial portion of its revenue. In 2025, approximately 63.6% of total revenue was derived from federal government entities, highlighting the importance of government funding and appropriations to its business model.
Looking ahead, Perma-Fix anticipates improvements in financial performance for 2026, contingent on the successful execution of waste treatment volumes and the commencement of the Direct-Feed Low-Activity Waste program at Hanford, Washington. However, the company remains cautious about potential delays in government appropriations and the impact of ongoing economic and political uncertainties on its operations and revenue generation.
About PERMA FIX ENVIRONMENTAL SERVICES INC
Perma-Fix Environmental Services, Inc. specializes in waste management and environmental technology, focusing on treatment, disposal, and remediation of radioactive, hazardous, and non-hazardous wastes. Serving government, commercial, and international markets, it develops innovative solutions like PFAS destruction technology. The company operates licensed facilities, relies heavily on government contracts, and emphasizes expanding its treatment capabilities and international presence within a highly regulated industry.
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