Ur-Energy Inc. reported its financial results for the second quarter of 2026, revealing a significant increase in revenue and operational developments. The company generated $14.4 million in sales for the three months ended June 30, 2026, compared to $10.4 million in the same period last year, marking a 38% increase. For the first half of 2026, total revenue reached $18.3 million, up from $10.4 million in the prior year. Despite the revenue growth, Ur-Energy reported a net loss of $16.7 million for the quarter, an improvement from a loss of $21.0 million in Q2 2025. The loss for the first half of 2026 was $45.5 million, compared to $31.9 million in the same period last year.
The company’s operational metrics also showed notable changes. Ur-Energy sold 215,000 pounds of U3O8 in Q2 2026 at an average price of $66.85 per pound, compared to 165,000 pounds sold at $63.20 per pound in Q2 2025. The increase in sales volume and price contributed to a gross profit of $1.9 million for the quarter, consistent with the previous year, while the gross profit for the first half of 2026 was $3.1 million, a significant recovery from a gross loss of $0.7 million in the same period of 2025. The company’s total operating costs rose to $20.3 million in Q2 2026, up from $17.7 million in Q2 2025, primarily due to increased development activities and higher labor costs.
Strategically, Ur-Energy commenced initial operations at its Shirley Basin project in April 2026 and received final authorization for full production operations in late June 2026. The company plans to transport U3O8 captured at Shirley Basin to its Lost Creek facility for processing. The combined licensed capacity of both projects totals 4.2 million pounds of U3O8 per year, with multi-year sales agreements in place with ten global nuclear energy and trading companies, projecting delivery commitments of approximately 5.75 million pounds from 2026 through 2033.
In terms of financial position, Ur-Energy reported cash and cash equivalents of $95.3 million as of June 30, 2026, down from $135.3 million at the end of 2025. The decrease was attributed to cash used in operating and investing activities, including $22.8 million spent on construction at Shirley Basin and $3.0 million on the sand filtration system at Lost Creek. The company anticipates total capital expenditures of approximately $30.5 million for 2026, with plans to defer some costs related to the wastewater treatment facility to 2027. Looking ahead, Ur-Energy expects to sell a total of 1 million pounds of U3O8 in 2026, with the majority of deliveries scheduled for the latter part of the year, aligning with the ramp-up of operations at both facilities.
About UR-ENERGY INC
Ur-Energy Inc. is a uranium exploration, development, and production company focused on in situ recovery (ISR) operations in the U.S. Wyoming projects. Its core assets include the Lost Creek and Shirley Basin properties, producing and selling uranium oxide (yellowcake) primarily to utilities and government agencies. The company emphasizes environmentally responsible mining, leveraging low-cost ISR techniques and advanced groundwater restoration methods. It operates through subsidiaries managing exploration, permitting, and processing activities.
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