enCore Energy (EU) financial statements
enCore Energy reported revenue of $43M in fiscal 2025, up 116.6% a year over 3 years.
Net income was -$57M.
Free cash flow was -$45M.
The diluted share count rose 186% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from enCore Energy's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | — | $4M | $22M | $58M | $43M |
| Cost of revenue | — | $3M | $20M | $66M | $33M |
| Gross profit | — | $2M | $3M | -$7M | $10M |
| Selling, general and admin | $197,391 | $12M | $20M | $27M | $43M |
| Operating income | -$9M | -$26M | -$41M | -$72M | -$66M |
| Interest expense | — | $0 | $4M | $2M | $3M |
| Pre-tax income | $15M | -$23M | $26M | -$74M | -$64M |
| Income tax | — | -$165,000 | -$500,000 | -$6M | -$488,000 |
| Net income | $9M | -$23M | -$26M | -$61M | -$57M |
| EPS (diluted) | -$0.13 | -$0.22 | -$0.18 | -$0.34 | -$0.30 |
| Diluted shares | 65M | 106M | 144M | 182M | 187M |
| Gross margin | — | 37.4% | 11.6% | -12.4% | 22.5% |
| Operating margin | — | -610.4% | -183.9% | -123.7% | -152.4% |
| Net margin | — | -545.5% | -115.6% | -105.2% | -131.7% |
Balance sheet
Fiscal years, from enCore Energy's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash and short-term investments | $14M | $57M | $24M | $64M | $52M |
| Receivables | — | — | — | $0 | $5M |
| Inventory | — | — | $9,000 | $21M | $5M |
| Total current assets | $12M | $11M | $25M | $87M | $110M |
| Property, plant and equipment | $2M | $2M | $15M | $24M | $41M |
| Total assets | $159M | $224M | $327M | $393M | $430M |
| Total current liabilities | $6M | $4M | $6M | $30M | $14M |
| Total liabilities | $10M | $8M | $65M | $74M | $172M |
| Shareholders' equity | $138M | $196M | $262M | $286M | $229M |
| Net debt | -$14M | -$57M | -$7M | -$40M | -$52M |
Cash flow
Fiscal years, from enCore Energy's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating cash flow | -$4M | -$20M | -$23M | -$45M | -$25M |
| Capital spending | $317,978 | $980,000 | $8M | $11M | $20M |
| Free cash flow | -$4M | -$21M | -$31M | -$57M | -$45M |
| Stock-based compensation | $1M | $4M | $3M | $5M | $4M |
| Net borrowing | — | -$2M | — | — | — |
| Free cash flow margin | — | -501.5% | -138.7% | -96.9% | -104.2% |
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Open EU in InvestinglyQuestions
What was enCore Energy's revenue in 2025?
$43M in fiscal 2025, from its 10-K filing.
How much free cash flow does enCore Energy generate?
-$45M in fiscal 2025 (operating cash flow minus capital spending).
From enCore Energy's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.