PESI · Perma Fix Environmental Services Inc
Substantial doubt about the company's ability to continue as a going concern.
“Because these customers do not provide binding assurances regarding the timing or volume of future work, and such activity is subject to appropriations, procurement processes, operational considerations and other factors outside the Company's control, management could not conclude that its plans are probable of effectively mitigating the conditions giving rise to substantial doubt. Accordingly, substantial doubt continues to exist about the Company's ability to continue as a going concern for one year following the date the accompanying Condensed Consolidated Financial Statements are issued. Although the May 2026 equity offering strengthened the Company's liquidity, management concluded that the substantial doubt was not alleviated.”View the 10-Q filed Aug 12, 2026
Key customers — 61.4% of revenue (the three months ended March 31, 2026)
“We performed services relating to waste generated by federal government clients, either indirectly as a subcontractor or directly as a prime contractor to federal government entities, representing approximately $6,836,000 or 61.4% of our total revenue during the three months ended March 31, 2026, as compared to $8,404,00 or 60.4% of our total revenue during the corresponding period of 2025.”
Key customers — 60.4% of revenue (the corresponding period of 2025)
“We performed services relating to waste generated by federal government clients, either indirectly as a subcontractor or directly as a prime contractor to federal government entities, representing approximately $6,836,000 or 61.4% of our total revenue during the three months ended March 31, 2026, as compared to $8,404,00 or 60.4% of our total revenue during the corresponding period of 2025.”
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AI Brief
Q2 FY26 earnings call · Aug 11, 2026TL;DR. Perma-Fix reported a preliminary Q2 2026 net loss of approximately $(6.0) million on revenue of approximately $13 million as costs outpaced revenue from delayed Hanford treatment, but treatment-related backlog rose about 29% to ~$15.7 million, Hanford waste receipts began in Q2 and DFLAW liquid effluent receipts began in July, and DOE's 'Dual Glass-Plus-Grout' strategy targeting 9 million gallons annually by 2030 names the company as a key participant.
- + Treatment-related backlog grew approximately 29% to about $15.7 million as of June 30, 2026, reflecting Hanford waste receipts new
- + Perma-Fix began receiving Hanford waste in Q2 and DFLAW liquid effluent in early July, with delayed Hanford-related waste treatment now expected to commence in Q3 2026 new
- + Services segment backlog exceeds $17 million over the next year following contract awards at multiple DOE facilities and commercial sites new
- + Company raised approximately $21 million net proceeds in a May 18, 2026 underwritten public offering, partly to fund DFLAW and grouting upgrades at PFNW new
- − Preliminary Q2 2026 net loss of approximately $(6.0) million on revenue of approximately $13 million as personnel and operating costs preceded revenue new
- − Revenue limited by delays in new project starts and continued drawdown of stored waste inventories new
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders NeutralIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| EBITDA from continuing operations non-GAAP | -$5.9M | the three months ended June 30, 2026 filing | — |
| Services revenue (year-over-year change) | 44% | the second quarter filing | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Waste Management — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
PESI
this stock
Perma Fix Environmental Services Inc
|
$332.07M | +23.0% | +4.3% | — | 12.6% |
|
WM
Waste Management Inc
|
$82.67B | -5.9% | +6.4% | 29.3 | 1.4% |
|
RSG
Republic Services, Inc.
|
$64.95B | +0.4% | +3.3% | 30.0 | 1.6% |
|
WCN
Waste Connections, Inc.
|
$39.21B | -12.0% | +6.1% | 37.5 | 1.4% |
|
CLH
Clean Harbors Inc
|
$16.41B | +37.5% | +6.9% | 42.1 | 2.1% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| PESI | -1.0% | -17.2% | +27.7% | -1.0% | +23.0% |
| SPY | +1.2% | +0.6% | +11.6% | +1.6% | +13.6% |
| vs SPY | -2.2% | -17.8% | +16.1% | -2.6% | +9.4% |