v3.26.1
REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Recognition and Contracts with Customers REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS
All revenue recognized is a result of contracts with customers by way of uranium, vanadium, REE and HMS sales contracts, Alternate Feed Materials processing contracts and/or byproduct disposal agreements with other ISR facilities. As of March 31, 2026 and December 31, 2025, the Company’s receivables from its contracts with customers were $5.48 million and $15.99 million, respectively. As of March 31, 2026, the Company’s contract liabilities from its contracts with customers were $3.00 million, which will be recognized as revenue upon transfer of control. The Company’s contracts with major U.S. utilities
have terms greater than one year. Under these contracts, each product delivered to the customer represents a separate performance obligation. Therefore, the Company applies the optional exemption not to disclose the remaining transaction price that is variable and allocated to wholly unsatisfied future quantities.
Disaggregation of Revenue
The table set forth below presents revenue disaggregated by type and the reportable segment to which it relates:
Three Months Ended March 31,Reportable
20262025Segment
Uranium concentrates$35,720 $— Uranium
Heavy mineral sands— 15,543 Heavy mineral sands
Alternate Feed Materials, processing and other118 1,355 Uranium
Total revenues$35,838 $16,898 
Remaining Performance Obligations
Minimum future revenues to be received by the Company under long-term non-cancellable contracts with customers as of March 31, 2026 are as follows:
Remainder of the year ending December 31, 2026$23,340 
Year ending December 31, 202748,385 
Year ending December 31, 202840,465 
Year ending December 31, 202924,710 
Year ending December 31, 203024,710 
Thereafter11,820 
Total$173,430