Ur-Energy Inc. (URG) Income Statement
URG 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsURG revenue and net income
Where URG's revenue goes
2025Each bar shows an amount and its share of revenue. URG kept −275.3% of revenue as net income.
URG profit margins
URG growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −19.3% | +1,027.1% | +26.8% | −4.2% |
| Gross profit | — | — | — | −40.2% |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
URG quarterly EPS vs estimates
Ur-Energy beat the analyst EPS estimate in 1 of the last 8 quarters. Next report: November 2, 2026 (estimate $-0.04).
URG income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $27.2M | $33.7M | $17.7M | $19,000 | $16,000 | $8.3M | $32.3M | $23.5M | $38.4M | $27.3M |
| Cost of revenue | $27.1M | $42.7M | $19.4M | $6.9M | $7.0M | $13.0M | $30.3M | $12.2M | $24.4M | $15.8M |
| Gross profit | $74,000 | −$9.0M | −$1.7M | −$6.8M | −$7.0M | −$4.7M | $2.0M | $11.3M | $14.0M | $11.5M |
| Research & development | $54.4M | $41.5M | $20.4M | $4.7M | $1.9M | $1.1M | $1.4M | $1.7M | $4.3M | $2.9M |
| Sales, general & admin | $8.9M | $8.0M | $6.3M | $6.0M | $5.3M | $5.2M | $5.8M | $5.4M | $5.1M | $4.7M |
| Total operating expenses | $69.5M | $54.1M | $29.2M | $13.0M | $9.8M | $8.7M | $10.3M | $10.0M | $12.6M | $11.1M |
| Operating income | −$69.4M | −$63.1M | −$30.8M | −$19.8M | −$16.8M | −$13.3M | −$8.3M | $1.3M | $1.4M | $271,000 |
| Interest income | $2.4M | $3.3M | $1.5M | $1.4M | $7.1M | $1.5M | $172,000 | $383,000 | $1.4M | $3.3M |
| Interest expense | $1.9M | $336,000 | $1.5M | $463,000 | $733,000 | $710,000 | $668,000 | $1.0M | $1.4M | $2.0M |
| Income before taxes | −$74.9M | −$53.2M | −$30.7M | −$17.1M | −$22.9M | −$14.8M | −$8.4M | $4.5M | $76,000 | −$3.0M |
| Income taxes | — | — | −$1 | $1.6M | $1.6M | $728,000 | $711,000 | $4.2M | $1.4M | −$17,000 |
| Net income | −$74.9M | −$53.2M | −$30.7M | −$17.1M | −$24.6M | −$14.8M | −$8.4M | $4.5M | $76,000 | −$3.0M |
| EBITDA | −$67.3M | −$50.1M | −$27.7M | −$13.7M | −$12.0M | −$9.8M | −$2.8M | $4.9M | $6.8M | $5.9M |
| EPS (diluted) | −$0.20 | −$0.17 | −$0.12 | −$0.08 | −$0.13 | −$0.08 | −$0.06 | $0.03 | $0.00 | −$0.02 |
| Gross margin | 0.3% | −26.6% | −9.5% | −36,010.5% | −43,650.0% | −55.9% | 6.1% | 48.1% | 36.4% | 42.0% |
| Operating margin | −255.0% | −187.2% | −174.5% | −104,178.9% | −104,731.2% | −160.4% | −25.7% | 5.6% | 3.6% | 1.0% |
| Net margin | −275.3% | −157.8% | −173.4% | −90,210.5% | −153,600.0% | −177.8% | −26.1% | 19.3% | 0.2% | −11.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $14.4M | $3.9M | $10.4M | $6.3M | $10.4M | $22.7M | $22.7M | $6.4M | $4.7M | $960 | $5.4M | $5.8M |
| Cost of revenue | $12.5M | $2.7M | $9.0M | $7.1M | $8.5M | $2.6M | $32.6M | $5.6M | $3.3M | $1.1M | $5.1M | $4.9M |
| Gross profit | $1.9M | $1.2M | $1.5M | −$740,000 | $1.9M | −$2.6M | −$9.9M | $787,000 | $1.3M | −$1.1M | $386,000 | $897,000 |
| Research & development | $15.9M | $14.9M | $16.2M | $14.4M | $14.1M | $9.7M | $9.8M | $10.1M | $10.1M | $11.6M | $6.8M | $9.3M |
| Sales, general & admin | $2.7M | $3.9M | $1.6M | $2.9M | $2.2M | $2.2M | $12.4M | $1.4M | $1.5M | $2.6M | $1.5M | $1.3M |
| Total operating expenses | $20.3M | $21.6M | $19.4M | $19.1M | $17.7M | $13.2M | $46.2M | $12.7M | $12.7M | $15.1M | $8.8M | $11.3M |
| Operating income | −$18.4M | −$20.3M | −$18.0M | −$19.8M | −$15.8M | −$15.8M | −$23.5M | −$11.9M | −$11.4M | −$16.3M | −$8.4M | −$10.4M |
| Interest income | $1.0M | $765,000 | $321,000 | $518,000 | $701,000 | $867,000 | $3.1M | $4.2M | $613,000 | $488,000 | — | $6.8M |
| Interest expense | $2.8M | $2.9M | $1.0M | $364,000 | $290,000 | $266,000 | — | — | $33,000 | $131,000 | $392,000 | $406,000 |
| Income before taxes | −$16.7M | −$28.8M | −$15.6M | −$27.5M | −$21.0M | −$10.9M | −$20.1M | −$8.0M | −$6.6M | −$18.5M | −$5.5M | −$17.2M |
| Income taxes | — | — | — | — | — | — | — | −$8.0M | $1 | −$2 | $4 | −$777,000 |
| Net income | −$16.7M | −$28.8M | −$15.6M | −$27.5M | −$21.0M | −$10.9M | −$20.1M | −$8.0M | −$6.6M | −$18.5M | −$5.5M | −$17.2M |
| EBITDA | −$11.6M | −$23.5M | −$12.4M | −$25.4M | −$19.1M | −$9.6M | — | −$7.1M | −$5.8M | −$17.8M | −$4.9M | −$16.4M |
| EPS (diluted) | −$0.04 | −$0.07 | −$0.04 | −$0.07 | −$0.06 | −$0.03 | −$0.06 | −$0.02 | −$0.02 | −$0.07 | −$0.02 | −$0.07 |
| Gross margin | 13.2% | 31.6% | 14.1% | −11.7% | 18.6% | −11.5% | −43.9% | 12.3% | 28.5% | −118,645.8% | 7.1% | 15.6% |
| Operating margin | −128.3% | −517.2% | −172.0% | −313.3% | −151.1% | −69.9% | −103.9% | −185.4% | −245.2% | −1,696,250.0% | −154.3% | −180.7% |
| Net margin | −116.1% | −732.0% | −149.1% | −434.3% | −200.8% | −48.1% | −88.6% | −125.0% | −141.5% | −1,931,354.2% | −100.6% | −298.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in URG's financial statements (latest annual report filed March 10, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
URG financial results
In fiscal year 2025 (ended December 31, 2025), Ur-Energy reported revenue of $27.2 million, down 19.3% from the year before. It had a net loss of $74.9 million, a net profit margin of −275.3%. Diluted earnings per share came to −$0.20. Over five years revenue grew at an average rate of 26.8% a year.
See the URG stock overview for the latest quote and news, or the URG chart for price history and technical indicators.
URG income statement FAQ
What is Ur-Energy's annual revenue?
Ur-Energy reported total revenue of $27.2 million for fiscal year 2025, which ended on December 31, 2025. That was down 19.3% from $33.7 million the previous year.
Is Ur-Energy profitable?
No. Ur-Energy reported a net loss of $74.9 million in fiscal 2025, a net profit margin of −275.3%; its operating margin was −255.0%.
What is Ur-Energy's gross margin?
Ur-Energy's gross margin was 0.3% in fiscal 2025: for every $100 of revenue, Ur-Energy kept $0 after the direct cost of its products and services.
How much does Ur-Energy spend on research and development?
Ur-Energy spent $54.4 million on research and development in fiscal 2025, 200.1% of revenue.
How fast is Ur-Energy growing?
Revenue grew 26.8% a year on average over the last five fiscal years, from $8.3 million to $27.2 million.
What are Ur-Energy's earnings per share?
Ur-Energy earned $-0.20 per diluted share in fiscal 2025, compared with $-0.17 a year earlier.
When will Ur-Energy report its next earnings?
Ur-Energy is expected to report results for the quarter ending September 30, 2026 on November 2, 2026.
When does Ur-Energy's fiscal year end?
Ur-Energy's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 10, 2026.