Boss Energy (BOE) H2 2025 earnings summary

Executive summary

• First full financial year of production at Honeymoon and Alta Mesa operations, with positive net cash from operating activities of $17.4 million and a strong balance sheet holding $224.3 million in cash and liquid assets with zero debt.

• Net loss after tax of $34.2 million, primarily due to non-cash impacts and attributed costs to purchased uranium sales.

Financial highlights

• Total revenue of $75.6 million, reflecting the sale of 650Klbs of purchased uranium at an average realised price of US$75.0/lb.

• EBITDA of $(16.9) million, a decrease of $59.5 million compared to the previous year.

• Net loss after tax of $34.2 million, down $78.8 million year-over-year.

• Operating cash flow improved to $17.4 million from $(11.7) million in FY2024.

• Cash and liquid assets decreased by $49.8 million to $224.3 million, mainly due to non-recurring plant completion costs and inventory accumulation.

Outlook and guidance

• Increased production guidance for FY26, with management emphasizing the company’s strong financial position and potential for further cash growth.