enCore Energy (NASDAQ:EU) reported a surge in operational output for fiscal year 2025 on Monday, as the South Texas-based producer successfully ramped up its Alta Mesa and Rosita projects to capitalize on a tightening global uranium market.
The firm announced that total extraction reached 699,807 pounds in 2025, representing a 242% increase compared to the previous year.
The company executed sales deliveries of approximately 655,000 pounds of uranium at an average realized price of $65.89 per pound.
The producer ended the year with a significant physical inventory of 132,013 pounds valued at a cost basis of $37.77 per pound, providing substantial leverage to future spot price appreciation.
On the financial front, enCore reported a net loss per share of $(0.30) for the full year, reflecting the heavy capital expenditure associated with transitioning multiple In-Situ Recovery (ISR) sites into active production.
Total liquidity at year-end stood at $96 million.
This capital position was further bolstered in February 2026, when the exercise of approximately 6.6 million warrants provided an additional $18.1 million in gross proceeds to the company’s treasury.
Meanwhile, operational focus remains centered on the company’s "hub-and-spoke" strategy in Texas and its advanced-stage pipeline in South Dakota and Wyoming.
Permitting and construction planning for the Upper Spring Creek and Dewey Burdock projects remain active, with management indicating that regulatory timelines will dictate the next phases of development through the remainder of 2026.