Paladin Energy Ltd. said its ramp-up phase is complete after reporting first positive operating cash flow and a 71% revenue increase in the fiscal year ended June 30, 2026. The company posted revenue of $304.3 million, up from $177.7 million a year earlier, while operating cash flow turned positive at $37.7 million compared with a negative $3.8 million in FY2025.
Gross profit reached $52.2 million, reversing a $26.1 million loss in the prior period, and the net loss narrowed to $9.1 million from $76.5 million. Uranium output rose 60% to 4.82 million pounds, while sales volumes climbed 61% to 4.35 million pounds. The average realized price increased 7% to $70.0 per pound.
Cost of production rose 8% to $43.3 per pound, though the company maintained a plant recovery rate of 90%, up from 83% in FY2025. Total material mined surged to 24.41 million tonnes from 3.23 million tonnes, with 4.76 million tonnes processed. Ore feed grade improved 14% to 498 parts per million.
Paladin’s cash position strengthened to $265 million at year-end, including $233 million in net cash, compared with $89 million and $2.5 million respectively at the start of FY2026. The company raised $257 million through equity and share purchase plans and repaid $62 million in debt and interest.
The Langer Heinrich Mine in Namibia accounted for $204 million in production costs, while $41 million was spent on the Patterson Lake South project in Canada. Capital expenditure totaled $15 million at Langer Heinrich and $41 million across exploration and development.
Looking ahead, Paladin guided FY2027 uranium production to 5.1–5.6 million pounds and sales volumes to 4.8–5.3 million pounds, with production costs expected between $44 and $48 per pound. Capital expenditure is forecast at $29–$35 million.
The company’s shares rose 3.26% to $12.35 following the results presentation.
