Perma-Fix Environmental Services Inc
NASDAQ:PESI
Perma-Fix Environmental Services Inc
Perma-Fix Environmental Services, Inc. is a nuclear services company, which provides nuclear and mixed waste management services. The company is headquartered in Atlanta, Georgia and currently employs 275 full-time employees. The company went IPO on 2002-01-01. The firm operates in three segments: Treatment segment, Services segment and Medical segment: Treatment segment includes nuclear, low-level radioactive, mixed waste, hazardous and non-hazardous waste treatment, processing and disposal services through licensed and permitted treatment and storage facilities, such as Perma-Fix of Florida (PFF), Inc., Diversified Scientific Services (DSSI), Inc., Perma-Fix Northwest Richland (PFNWR), Inc. and Oak Ridge Environmental Waste Operations Center (EWOC). The Research & Development (R&D) activities identity's, develops and implements waste processing techniques for problematic waste streams. Service segment includes technical services and nuclear services. Medical segment, which is involved on a limited basis in the R&D of the Company’s medical isotope production technology, has not generated any revenue.
Perma-Fix Environmental Services, Inc. is a nuclear services company, which provides nuclear and mixed waste management services. The company is headquartered in Atlanta, Georgia and currently employs 275 full-time employees. The company went IPO on 2002-01-01. The firm operates in three segments: Treatment segment, Services segment and Medical segment: Treatment segment includes nuclear, low-level radioactive, mixed waste, hazardous and non-hazardous waste treatment, processing and disposal services through licensed and permitted treatment and storage facilities, such as Perma-Fix of Florida (PFF), Inc., Diversified Scientific Services (DSSI), Inc., Perma-Fix Northwest Richland (PFNWR), Inc. and Oak Ridge Environmental Waste Operations Center (EWOC). The Research & Development (R&D) activities identity's, develops and implements waste processing techniques for problematic waste streams. Service segment includes technical services and nuclear services. Medical segment, which is involved on a limited basis in the R&D of the Company’s medical isotope production technology, has not generated any revenue.
Revenue Growth: Perma-Fix reported Q3 revenue of $17.5 million, up from $16.8 million a year ago, driven by strong performance in the Treatment segment.
Margin Expansion: Gross profit doubled to $2.6 million, with gross margin rising to 14.6% from 7.9% last year, reflecting higher waste volumes and an improved mix.
Record Backlog: Treatment segment backlog reached $15.4 million, nearly doubling from $7.9 million in Q3 2024, providing strong visibility into 2026.
PFAS Progress: The PFAS destruction initiative is operating reliably, with backlog and anticipated commitments expected to keep facilities fully utilized through early 2026. A new, larger unit will come online in Q1 2026.
Hanford Opportunity: The Hanford DFLAW program represents a multi-decade, high-volume growth opportunity, with waste shipments expected to begin in late Q4 or early Q1 2026 and ramping revenue contributions.
Services Segment Slowdown: Service segment revenue fell due to project delays and slower award timing but is expected to recover as funding normalizes.
Cost Control & Liquidity: SG&A expenses rose moderately, but Perma-Fix maintains a strong cash position of $16.4 million and low debt, supporting future growth.
2026 Outlook: Management anticipates accelerating profitability and margin expansion as backlogs are converted and PFAS commercialization scales.
