v3.26.3
TRANSACTION (Tables)
 9 Months Ended
Sep. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Business Combination
The following table summarizes the acquisition-date fair value of the consideration transferred:
ConsiderationShares
Per Share(1)
Purchase Consideration
Common Shares exchanged for ASM ownership interest14,808,572 $14.67 $217,242 
Cash consideration paid to ASM shareholders26,100 
Cash consideration paid to ASM option holders5,151 
Fair value of consideration transferred$248,493 
(1)    Close share price on the NYSE American on August 28, 2026.
Business Combination, Recognized Asset Acquired and Liability Assumed
The following table summarizes the preliminary purchase price allocation for the ASM Acquisition:
August 28, 2026
Assets
Cash and cash equivalents$29,467 
Trade and other receivables(1)
2,222 
Inventories(2)
10,129 
Prepaid expenses and other current assets1,397 
Total current assets43,215 
Mineral properties(3)
35,620 
Property, plant and equipment, net(4)
58,198 
Intangible assets(5)
72,689 
Goodwill56,026 
Other assets1,021 
Total assets266,769 
Liabilities
Accounts payable and accrued liabilities(2,541)
Deferred revenue(2,985)
Debt(2,168)
Other liabilities (59)
Total current liabilities(7,753)
Asset retirement obligations(973)
Deferred tax(7,935)
Other liabilities(815)
Total liabilities(17,476)
Less: Non-controlling interest(6)
(800)
Net assets acquired$248,493 
(1)    Reflected at fair value and presented gross.
(2)    The fair value of finished goods inventories were estimated based on selling prices, less costs to complete and sell the inventory and a reasonable profit allowance for the remaining manufacturing and selling activities.
(3)    The fair value of mineral properties was estimated using a market approach based on resource multiples derived from comparable transactions involving mining companies and projects, adjusted for differences in development stage, resource characteristics and other project-specific factors.
(4)    The fair value of property, plant and equipment was estimated using cost and market approaches.
(5)    Intangible assets consist of $38.85 million of patents and $33.84 million of customer relationships, each of which were valued using methods under the income approach. The fair value of patents was estimated using the relief-from-royalty method, adjusted for obsolescence. The fair value of customer relationships was estimated using the multi-period excess earnings method, adjusted for customer retention.
(6)    Non-controlling interest represents the non-controlling shareholders’ proportionate interest in the underlying net assets.
Business Combination, Pro Forma Information
The following unaudited pro forma financial information presents the combined results of operations of the Company and ASM as if the ASM Acquisition had occurred on January 1, 2025.
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Revenues$29,549 $29,589 $96,122 $53,362 
Net loss attributable to Energy Fuels Inc.(1)
(51,867)(22,525)(111,230)(79,444)
(1)    Amounts include Transaction and integration related costs were approximately $6.57 million and $10.37 million for the three and nine months ended September 30, 2026, respectively.