Q4 2025 Perma-Fix Environmental Services Inc Earnings Call Transcript
Key Points
- Perma-Fix Environmental Services Inc (PESI) reported a significant increase in treatment revenue, up approximately 29% year over year, driven by higher waste volumes and improved plant throughput.
- The company achieved a 51% increase in treatment backlog, providing improved visibility as they enter 2026.
- International revenue grew by approximately 163% year over year, reflecting strong global demand for PESI's specialized waste treatment services.
- The renewal of the permit for the Perma-Fix Northwest facility significantly expanded processing capacity, tripling liquid processing capacity and authorizing treatment of up to 175,000 tons of waste annually.
- PESI is advancing its PFAS destruction technology, with a new system expected to increase capacity by up to 3x, positioning the company to meet growing demand for PFAS remediation solutions.
- The company experienced a net loss of $5.7 million in the fourth quarter, compared to a net loss of $3.5 million in the same period last year.
- Revenue from the Services Segment declined due to the timing of project mobilizations and procurement cycles, including delays associated with the transition to a new administration.
- The first quarter of 2026 is expected to be softer, with losses likely exceeding $4 million in negative EBITDA on about $13 million in revenue.
- Cash on the balance sheet decreased significantly from $29 million at the end of 2024 to $11.8 million at the end of 2025.
- The company faces challenges related to the timing of waste receipts and project mobilization, which may create variability in near-term quarterly results.
Good morning, everyone, and welcome to the Perma-Fix fourth quarter and fiscal 2025 business update conference call. (Operator Instructions). Please note, this conference is being recorded.
I will now turn the call over to your host, David Waldman of Crescendo Communications. David, the floor is yours.
Thank you, Jenny. Good morning, everyone, and welcome to Perma-Fix Environmental Services fourth quarter and year-end 2025 conference call. On the call with us this morning is Mark Duff, President and CEO; Dr. Lou Centofanti, Executive Vice President of Strategic Initiatives; and Ben Naccarato, Chief Financial Officer.
The company issued a press release this morning containing fourth quarter and 2025 financial results, which is also posted on the company's website. If you have any questions after the call or would like any additional information about the company, please contact Crescendo Communications at (212) 671-1020.
I'd also like to remind everyone that certain statements
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