Ur-Energy Reports Q1 2025 Financial Results with $10.9 Million Net Loss

Ur-Energy Inc. reported its financial results for the first quarter of 2025, revealing a net loss of $10.9 million, a significant improvement from the $18.5 million loss recorded in the same period of 2024. The company did not generate any revenue during the quarter, consistent with the previous year. However, the cost of sales increased to $2.6 million from $1.1 million year-over-year, primarily due to adjustments in inventory valuation. Operating costs also decreased to $13.2 million from $15.1 million, reflecting lower development expenses at the Lost Creek Project.

The company's total assets as of March 31, 2025, stood at $182.9 million, down from $194.1 million at the end of 2024. Current assets decreased to $100 million, primarily due to a reduction in cash and cash equivalents, which fell to $74.8 million from $76.1 million. The company’s liabilities increased slightly, with current liabilities totaling $20.7 million compared to $19.3 million at the end of 2024. Shareholders' equity also declined to $123.1 million from $132.8 million, largely due to the accumulated deficit growing to $315 million.

Strategically, Ur-Energy is advancing its Shirley Basin Project, with construction on track for a projected startup in early 2026. The company has made significant progress in hiring senior management and construction staff, and it is actively developing the first mine unit. At the Lost Creek Project, operational improvements have led to a 44% increase in wellfield flow rates, contributing to enhanced production capabilities. The company has also secured seven multi-year sales agreements, anticipating total sales of approximately 5.84 million pounds of U3O8 between 2025 and 2033.

Looking ahead, Ur-Energy expects to deliver 440,000 pounds of U3O8 in 2025, with projected revenues of $27.1 million based on an average price of $61.56 per pound. The company is focused on maintaining safe operations while expanding its production capabilities. As of May 2, 2025, Ur-Energy reported an unrestricted cash position of $66 million, positioning it well to fund ongoing construction and operational activities at both the Lost Creek and Shirley Basin projects.