Perma-Fix Environmental Services Inc
perma-fix.comPerma-Fix Environmental Services Inc (NASDAQ: PESI) is a nuclear and radioactive waste management company that treats, processes, and disposes of radioactive and mixed waste for government and commercial customers. Revenue comes from two segments: Treatment, which processes radioactive waste at licensed facilities, and Services, which provides field remediation and other environmental services under government contracts. The Treatment Segment generated $45,097,000, or 73.1%, of total FY2025 revenue, compared to $34,953,000, or 59.1%, in FY2024. A significant portion of revenue is earned directly as a prime contractor or indirectly as a subcontractor to contractors serving federal government authorities, including the U.S. Department of Energy (DOE) and Department of Defense. One or a few government or government-related customers can account for a material share of revenue in any given year. Treatment Segment backlog as of December 31, 2025, was approximately $11,861,000, up 50.9% from $7,859,000 as of December 31, 2024.
Products & Services
Radioactive and mixed waste treatment and processing; low-level radioactive waste disposal; very low-level radioactive waste disposal; field environmental remediation services. Operates the Perma-Fix Northwest Richland, Inc. (PFNWR) treatment facility in Richland, Washington, adjacent to the Hanford Nuclear Site, which is positioned to support the Direct-Feed Low-Activity Waste (DFLAW) program at Hanford.
Revenue Model
Transactional contract revenue from two segments: Treatment (processing and disposal of radioactive and mixed waste at licensed facilities) and Services (field remediation and environmental services). Contracts are executed directly with federal government agencies or as a subcontractor to prime government contractors. The government may terminate contracts at any time for convenience.
Customers & Markets
Primary customers are U.S. federal government agencies, principally the Department of Energy (DOE) and Department of Defense, served directly as prime contractor or indirectly through subcontracting arrangements. One or a few government-related customers have historically accounted for a significant portion of annual revenue. The company also holds a Mixed Direct and Framework Contract for Services with the European Commission (contract number 945711-IPR-2023, dated December 18, 2023).
Geographic Exposure
Operations include a treatment facility in Richland, Washington (adjacent to the Hanford Nuclear Site). Also holds a contract with the European Commission. Primary revenue base is U.S. federal government programs.
Financial Snapshot
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