Uranium Energy Corp Files 10-Q for Period Ending January 31, 2024

TL;DR

<b>Uranium Energy Corp filed its quarterly report (10-Q) for the period ending January 31, 2024, detailing its financial status and operations.</b>

AI Summary

URANIUM ENERGY CORP (UEC) filed a Quarterly Report (10-Q) with the SEC on March 11, 2024. Uranium Energy Corp reported financial results for the period ending January 31, 2024. The company's fiscal year ends on July 31st. The filing is a 10-Q, indicating a quarterly report. The filing was submitted on March 11, 2024. The company's principal business is in Miscellaneous Metal Ores (SIC 1090).

Why It Matters

For investors and stakeholders tracking URANIUM ENERGY CORP, this filing contains several important signals. This 10-Q filing provides investors with an updated view of Uranium Energy Corp's financial performance and operational status for the most recent quarter. As a company in the mining sector, particularly uranium, this filing is crucial for understanding its progress in exploration, development, and production activities, which are subject to market fluctuations and regulatory changes.

Risk Assessment

Risk Level: medium — URANIUM ENERGY CORP shows moderate risk based on this filing. The company operates in the volatile uranium market, which is subject to significant price fluctuations and geopolitical risks that can impact its financial performance and future prospects.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-Q to assess Uranium Energy Corp's current financial health and its strategic positioning in the uranium market.

Key Numbers

• 2024-01-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-03-11 — Filing Date (FILED AS OF DATE)
• 0731 — Fiscal Year End (FISCAL YEAR END)
• 1090 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION)

Key Players & Entities

• URANIUM ENERGY CORP (company) — FILER
• 10-Q (filing) — FORM TYPE
• NV (state) — STATE OF INCORPORATION
• VANCOUVER (location) — CITY
• 361-888-8235 (phone) — BUSINESS PHONE
• 001-33706 (filing) — SEC FILE NUMBER
• 24736218 (filing) — FILM NUMBER
• 2024-01-31 (date) — CONFORMED PERIOD OF REPORT

FAQ

Risk Factors

• Market Price Fluctuations [high — market]: The market prices for uranium are volatile and subject to significant fluctuations, which can adversely affect the company's financial condition and results of operations.
• Regulatory and Environmental Compliance [medium — regulatory]: The company's operations are subject to extensive government regulations, including environmental laws, which can lead to increased costs and potential liabilities.
• Operational Risks [medium — operational]: Uranium mining and processing involve inherent operational risks, including geological challenges, equipment failures, and safety incidents.

Key Dates

• 2024-01-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-03-11: Filing Date — Date the 10-Q report was officially submitted to the SEC.
• 2024-07-31: Fiscal Year End — Marks the end of the company's annual fiscal cycle.

Filing Documents

• uec20240131_10q.htm (10-Q) — 1758KB
• ex_606808.htm (EX-31.1) — 12KB
• ex_606809.htm (EX-31.2) — 12KB
• ex_606810.htm (EX-32.1) — 5KB
• 0001437749-24-007217.txt (&nbsp;) — 8498KB
• uec-20240131.xsd (EX-101.SCH) — 85KB
• uec-20240131_cal.xml (EX-101.CAL) — 52KB
• uec-20240131_def.xml (EX-101.DEF) — 416KB
• uec-20240131_lab.xml (EX-101.LAB) — 397KB
• uec-20240131_pre.xml (EX-101.PRE) — 470KB
• uec20240131_10q_htm.xml (XML) — 1711KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION 4 Item 1.

Financial Statements

Financial Statements 4 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 36 Item 4.

Controls and Procedures

Controls and Procedures 36

– OTHER INFORMATION

PART II – OTHER INFORMATION 36 Item 1.

Legal Proceedings

Legal Proceedings 36 Item 1A.

Risk Factors

Risk Factors 37 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 48 Item 3. Defaults Upon Senior Securities 49 Item 4. Mine Safety Disclosures 49 Item 5. Other Information 49 Item 6. Exhibits 49

SIGNATURES

SIGNATURES 50 3 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 4 Table of Contents URANIUM ENERGY CORP. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE three and six months ended January 31, 2024 (Unaudited – Expressed in thousands of U.S. dollars unless otherwise stated) 5 Table of Contents URANIUM ENERGY CORP. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited – Expressed in thousands of U.S. dollars) Notes January 31, 2024 July 31, 2023 CURRENT ASSETS Cash and cash equivalents $ 82,287 $ 45,614 Inventories 3 63,401 6,207 Prepaid expenses and deposits 3,173 2,682 Other current assets 720 702 TOTAL CURRENT ASSETS 149,581 55,205 MINERAL RIGHTS AND PROPERTIES 4 563,588 565,560 PROPERTY, PLANT AND EQUIPMENT 5 20,072 19,728 RESTRICTED CASH 6 7,251 7,251 EQUITY-ACCOUNTED INVESTMENTS 7 56,453 48,110 INVESTMENT IN EQUITY SECURITIES 8 78,583 38,656 OTHER NON-CURRENT ASSETS 3,350 3,079 TOTAL ASSETS $ 878,878 $ 737,589 CURRENT LIABILITIES Accounts payable and accrued liabilities $ 5,038 $ 10,525 Asset retirement obligations - current 9 1,493 1,515 Derivative liabilities 10 15,047 - Other current liabilities 264 154 TOTAL CURRENT LIABILITIES 21,842 12,194 ASSET RETIREMENT OBLIGATIONS 9 17,642 17,155 OTHER NON-CURRENT LIABILITIES 1,589 1,020 DERIVATIVE LIABILITIES 10 - 4,313 DEFERRED TAX LIABILITIES 68,655 71,080 TOTAL LIABILITIES 109,728 105,762 STOCKHOLDERS' EQUITY Capital stock Common stock $ 0.001 par value: 750,000,000 shares authorized, 401,058,973 shares issued and outstanding (July 31, 2023 - 378,452,864 ) 11 401 378 Additional paid-in capital 1,059,266 924,737 Share issuance obligation 517 - Accumulated deficit ( 284,109 ) ( 289,680 ) Accumulated other comprehensive loss ( 6,925 ) ( 3,608 ) TOTAL EQUITY 769,150 631,827 TOTAL LIABILITIES AND EQUITY $ 878,878 $ 737,589 SUBSEQUENT EVENTS 11 The accompanying notes are an integral part of these condensed consolidated financial

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View this 10-Q filing on SEC EDGAR