$PESI

PERMA FIX ENVIRONMENTAL SERVICES INC

CIK:0000891532|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net revenues	$ 12,885	$ 14,586	$ 24,011	$ 28,505
Cost of goods sold	15,388	13,039	29,395	26,301
Gross (loss) profit	(2,503)	1,547	(5,384)	2,204
Selling, general and administrative expenses	3,751	4,130	8,049	8,145
Research and development	253	312	556	695
Gain on disposal of property and equipment		(1)		(6)
Loss from operations	(6,507)	(2,894)	(13,989)	(6,630)
Other income (expense):
Interest income	203	301	384	636
Interest expense	(73)	(124)	(133)	(236)
Interest expense-financing fees	(21)	(21)	(43)	(41)
Other	136	155	144	188
Loss from continuing operations before taxes	(6,262)	(2,583)	(13,637)	(6,083)
Income tax expense
Loss from continuing operations, net of taxes	(6,262)	(2,583)	(13,637)	(6,083)
Income (loss) from discontinued operations, net of taxes (Note 10)	62	(133)	(50)	(206)
Net loss	$ (6,200)	$ (2,716)	$ (13,687)	$ (6,289)
Net loss per common share - basic and diluted:
Continuing operations - basic	$ (0.32)	$ (0.14)	$ (0.71)	$ (0.33)
Continuing operations - diluted	(0.32)	(0.14)	(0.71)	(0.33)
Discontinued operations - basic		(0.01)		(0.01)
Discontinued operations - diluted		(0.01)		(0.01)
Net loss per common share - basic	(0.32)	(0.15)	(0.71)	(0.34)
Net loss per common share - diluted	$ (0.32)	$ (0.15)	$ (0.71)	$ (0.34)
Weighted average number of common shares used in computing net loss per share:
Basic	19,840	18,448	19,195	18,436
Diluted	19,840	18,448	19,195	18,436

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (13,687,000)	$ (6,289,000)
Less: loss from discontinued operations, net of taxes (Note 10)	(50,000)	(206,000)
Loss from continuing operations, net of taxes	(13,637,000)	(6,083,000)
Adjustments to reconcile loss from continuing operations to cash used in operating activities:
Depreciation and amortization	974,000	873,000
Amortization of debt issuance costs	43,000	42,000
Provision for credit losses on accounts receivable	(293,000)	46,000
Gain on disposal of property and equipment		(6,000)
Issuance of common stock for services	238,000	235,000
Stock-based compensation	398,000	382,000
Changes in operating assets and liabilities of continuing operations
Accounts receivable	1,481,000	2,974,000
Unbilled receivables	(797,000)	(1,297,000)
Prepaid expenses, inventories and other assets	(250,000)	463,000
Accounts payable, accrued expenses, unearned revenue and other liabilities	3,074,000	(1,068,000)
Cash used in continuing operations	(8,769,000)	(3,439,000)
Cash used in discontinued operations	(192,000)	(222,000)
Cash used in operating activities	(8,961,000)	(3,661,000)
Cash flows from investing activities:
Purchases of property and equipment	(2,675,000)	(1,766,000)
Additions to permits and other intangible assets	(275,000)	(74,000)
Proceeds from sale of property and equipment		33,000
Cash used in continuing operations	(2,950,000)	(1,807,000)
Cash used in discontinued operations	(45,000)	(16,000)
Cash used in investing activities	(2,995,000)	(1,823,000)
Cash flows from financing activities:
Repayments of revolving credit borrowings	(60,838,000)	(37,708,000)
Borrowing on revolving credit	60,838,000	37,708,000
Proceeds from issuance of Common Stock upon exercise of options	153,000	49,000
Proceeds from sale of Common Stock Completed in May 2026, net of offering costs paid (Note 13)	21,295,000
Payment of offering costs from sale of Common Stock completed in December 2024		(194,000)
Principal repayments of finance lease liabilities	(191,000)	(148,000)
Principal repayments of long term debt	(330,000)	(313,000)
Payment of debt issuance costs		(20,000)
Cash provided by (used in) financing activities of continuing operations	20,927,000	(626,000)
Effect of exchange rate changes on cash	(1,000)	1,000
Increase (decrease) in cash and finite risk sinking fund (restricted cash)	8,970,000	(6,109,000)
Cash and finite risk sinking fund (restricted cash) at beginning of period	24,984,000	41,655,000
Cash and finite risk sinking fund (restricted cash) at end of period	33,954,000	35,546,000
Supplemental disclosure:
Interest paid, net of capitalized amount of $74 and $0, respectively	132,000	229,000
Income taxes paid
Non-cash investing and financing activities:
Property and equipment purchase subject to financing	395,000
Property and equipment purchase subject to finance leases	1,134,000	132,000
Property and equipment additions included in accounts payable	$ 1,477,000	$ 441,000