| Schedule of Information from the Condensed Consolidated Statements of Operations and Comprehensive Loss |
Select information from the condensed consolidated statements of operations and comprehensive loss as of the three months ended June 30, 2026 and 2025 is as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues |
|
|
Net Income (Loss) Before
Allocation to Noncontrolling Interest |
|
|
|
Three Months Ended June 30, |
|
|
Three Months Ended June 30, |
|
Segment |
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Specialist isotopes and related services |
|
$ |
3,869 |
|
|
$ |
1,198 |
|
|
$ |
(14,158 |
) |
|
$ |
(8,445 |
) |
Nuclear fuels |
|
|
600 |
|
|
|
— |
|
|
|
(13,848 |
) |
|
|
(66,712 |
) |
Helium and LNG |
|
|
654 |
|
|
|
— |
|
|
|
(5,987 |
) |
|
|
— |
|
|
|
$ |
5,123 |
|
|
$ |
1,198 |
|
|
$ |
(33,993 |
) |
|
$ |
(75,157 |
) |
Select information from the condensed consolidated statements of operations and comprehensive loss as of the six months ended June 30, 2026 and 2025 is as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues |
|
|
Net Income (Loss) Before
Allocation to Noncontrolling Interest |
|
|
|
Six Months Ended June 30, |
|
|
Six Months Ended June 30, |
|
Segment |
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Specialist isotopes and related services |
|
$ |
7,255 |
|
|
$ |
2,300 |
|
|
$ |
(24,748 |
) |
|
$ |
(14,814 |
) |
Nuclear fuels |
|
|
800 |
|
|
|
— |
|
|
|
(19,961 |
) |
|
|
(68,805 |
) |
Helium and LNG |
|
|
1,248 |
|
|
|
— |
|
|
|
(15,990 |
) |
|
|
— |
|
|
|
$ |
9,303 |
|
|
$ |
2,300 |
|
|
$ |
(60,699 |
) |
|
$ |
(83,619 |
) |
|
| Schedule of Reconciliation of Total Segment Revenue to Total Consolidated Revenue and of Total Segment Gross Profit and Segment Operating Income to Total Consolidated Income Before Income Taxes |
A reconciliation of total segment revenue to total consolidated revenue and of total segment gross profit and segment operating income to total consolidated income before income taxes, for the three months ended June 30, 2026 and 2025, is as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, 2026 |
|
|
|
Specialist isotopes and related services |
|
|
Nuclear fuels |
|
|
Helium and LNG |
|
|
Total |
|
Sales from external customers |
|
$ |
3,869 |
|
|
$ |
— |
|
|
$ |
654 |
|
|
$ |
4,523 |
|
Collaboration revenue |
|
|
— |
|
|
|
600 |
|
|
|
— |
|
|
|
600 |
|
Less: cost of sales |
|
|
(2,149 |
) |
|
|
— |
|
|
|
(1,494 |
) |
|
|
(3,643 |
) |
Segment gross profit (loss) |
|
|
1,720 |
|
|
|
600 |
|
|
|
(840 |
) |
|
|
1,480 |
|
Personnel expenses |
|
|
8,907 |
|
|
|
4,492 |
|
|
|
1,085 |
|
|
|
14,484 |
|
Professional fees |
|
|
3,603 |
|
|
|
2,176 |
|
|
|
692 |
|
|
|
6,471 |
|
Other segment expenses |
|
|
5,941 |
|
|
|
5,598 |
|
|
|
3,181 |
|
|
|
14,720 |
|
Segment operating loss |
|
|
(16,731 |
) |
|
|
(11,666 |
) |
|
|
(5,798 |
) |
|
|
(34,195 |
) |
Foreign exchange transaction gain (loss) |
|
|
66 |
|
|
|
(18 |
) |
|
|
2,580 |
|
|
|
2,628 |
|
Change in fair value of convertible notes payable |
|
|
547 |
|
|
|
(4,007 |
) |
|
|
— |
|
|
|
(3,460 |
) |
Interest income (expense), net |
|
|
1,736 |
|
|
|
716 |
|
|
|
(1,515 |
) |
|
|
937 |
|
Loss before income tax benefit |
|
$ |
(14,382 |
) |
|
$ |
(14,975 |
) |
|
$ |
(4,733 |
) |
|
$ |
(34,090 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, 2025 |
|
|
|
Specialist isotopes and related services |
|
|
Nuclear fuels |
|
|
Total |
|
Sales from external customers |
|
$ |
1,198 |
|
|
$ |
— |
|
|
$ |
1,198 |
|
Less: cost of sales |
|
|
(626 |
) |
|
|
— |
|
|
|
(626 |
) |
Segment gross profit |
|
|
572 |
|
|
|
— |
|
|
|
572 |
|
Personnel expenses |
|
|
4,452 |
|
|
|
2,441 |
|
|
|
6,893 |
|
Professional fees |
|
|
2,387 |
|
|
|
461 |
|
|
|
2,848 |
|
Other segment expenses |
|
|
2,546 |
|
|
|
254 |
|
|
|
2,800 |
|
Segment operating loss |
|
|
(8,813 |
) |
|
|
(3,156 |
) |
|
|
(11,969 |
) |
Foreign exchange transaction loss |
|
|
(37 |
) |
|
|
— |
|
|
|
(37 |
) |
Change in fair value of share liability |
|
|
(142 |
) |
|
|
— |
|
|
|
(142 |
) |
Change in fair value of convertible notes payable |
|
|
— |
|
|
|
(63,757 |
) |
|
|
(63,757 |
) |
Interest income, net |
|
|
641 |
|
|
|
202 |
|
|
|
843 |
|
Loss before income tax expense |
|
$ |
(8,351 |
) |
|
$ |
(66,711 |
) |
|
$ |
(75,062 |
) |
A reconciliation of total segment revenue to total consolidated revenue and of total segment gross profit and segment operating income to total consolidated income before income taxes, for the six months ended June 30, 2026 and 2025, is as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended June 30, 2026 |
|
|
|
Specialist isotopes and related services |
|
|
Nuclear fuels |
|
|
Helium and LNG |
|
|
Total |
|
Sales from external customers |
|
$ |
7,255 |
|
|
$ |
— |
|
|
$ |
1,248 |
|
|
$ |
8,503 |
|
Collaboration revenue |
|
|
— |
|
|
|
800 |
|
|
|
— |
|
|
|
800 |
|
Less: cost of sales |
|
|
(3,843 |
) |
|
|
— |
|
|
|
(2,314 |
) |
|
|
(6,157 |
) |
Segment gross profit (loss) |
|
|
3,412 |
|
|
|
800 |
|
|
|
(1,066 |
) |
|
|
3,146 |
|
Personnel expenses |
|
|
16,494 |
|
|
|
7,740 |
|
|
|
2,216 |
|
|
|
26,450 |
|
Professional fees |
|
|
7,085 |
|
|
|
4,373 |
|
|
|
1,223 |
|
|
|
12,681 |
|
Other segment expenses |
|
|
11,298 |
|
|
|
6,509 |
|
|
|
5,292 |
|
|
|
23,099 |
|
Segment operating loss |
|
|
(31,465 |
) |
|
|
(17,822 |
) |
|
|
(9,797 |
) |
|
|
(59,084 |
) |
Foreign exchange transaction gain (loss) |
|
|
27 |
|
|
|
(61 |
) |
|
|
(1,064 |
) |
|
|
(1,098 |
) |
Change in fair value of investments |
|
|
— |
|
|
|
1,126 |
|
|
|
— |
|
|
|
1,126 |
|
Change in fair value of convertible notes payable |
|
|
636 |
|
|
|
(4,664 |
) |
|
|
— |
|
|
|
(4,028 |
) |
Interest income (expense), net |
|
|
3,823 |
|
|
|
1,460 |
|
|
|
(3,026 |
) |
|
|
2,257 |
|
Loss before income tax benefit |
|
$ |
(26,979 |
) |
|
$ |
(19,961 |
) |
|
$ |
(13,887 |
) |
|
$ |
(60,827 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended June 30, 2025 |
|
|
|
Specialist isotopes and related services |
|
|
Nuclear fuels |
|
|
Total |
|
Sales from external customers |
|
$ |
2,300 |
|
|
$ |
— |
|
|
$ |
2,300 |
|
Less: cost of sales |
|
|
(1,401 |
) |
|
|
— |
|
|
|
(1,401 |
) |
Segment gross profit |
|
|
899 |
|
|
|
— |
|
|
|
899 |
|
Personnel expenses |
|
|
7,752 |
|
|
|
3,032 |
|
|
|
10,784 |
|
Professional fees |
|
|
4,166 |
|
|
|
837 |
|
|
|
5,003 |
|
Other segment expenses |
|
|
4,435 |
|
|
|
598 |
|
|
|
5,033 |
|
Segment operating loss |
|
|
(15,454 |
) |
|
|
(4,467 |
) |
|
|
(19,921 |
) |
Foreign exchange transaction loss |
|
|
(99 |
) |
|
|
— |
|
|
|
(99 |
) |
Change in fair value of share liability |
|
|
(129 |
) |
|
|
— |
|
|
|
(129 |
) |
Change in fair value of convertible notes payable |
|
|
— |
|
|
|
(64,715 |
) |
|
|
(64,715 |
) |
Interest income, net |
|
|
893 |
|
|
|
377 |
|
|
|
1,270 |
|
Loss before income tax expense |
|
$ |
(14,789 |
) |
|
$ |
(68,805 |
) |
|
$ |
(83,594 |
) |
|