Perma‑Fix Environmental Services, Inc. (NASDAQ: PESI) announced a new two‑year master task agreement with Lawrence Livermore National Security, LLC, valued at approximately $24 million. The contract will cover demolition and disposal work at Lawrence Livermore National Laboratory and is expected to generate a steady stream of revenue over the next 24 months.
The $24 million award represents roughly 39% of Perma‑Fix’s trailing‑twelve‑month revenue of $61.7 million, underscoring the deal’s significance for the company’s top‑line growth. The contract aligns with Perma‑Fix’s strategy of expanding treatment capacity and securing long‑term federal projects, and it will reinforce the company’s position in the nuclear waste treatment market.
Perma‑Fix has been operating at a net loss in recent quarters. In Q3 FY 2025 the company reported a basic EPS loss of $0.10 on revenue of $17.5 million, and in the full year 2025 it posted a net loss of about $13.8 million on $61.7 million of revenue. The Q4 2025 earnings miss—an EPS loss of $0.31 versus an estimated loss of $0.09 and revenue of $15.7 million versus an expected $18.1 million—highlight ongoing profitability challenges. The new contract is therefore a key revenue driver that may help the company move toward a breakeven or profitable outlook as it continues to invest in capacity expansion.
Management noted that the long‑standing relationship with Lawrence Livermore National Security and the company’s deep understanding of site‑specific risks and priorities were critical to securing the award. President and CEO Mark Duff emphasized that 2025 was an important year for strengthening the operational foundation for future growth tied to the Hanford cleanup mission, and the new contract will support that effort.
The deal comes at a time when Perma‑Fix’s treatment segment is growing—revenues in that segment rose about 29% in 2025—while its services segment has seen a decline. The expanded permit for the Perma‑Fix Northwest facility, which roughly tripled its liquid mixed‑waste processing capacity, is part of the company’s broader strategy to capture more of the federal waste‑management market. The new contract therefore dovetails with the company’s capacity‑expansion initiatives and provides a predictable revenue stream that can help offset the losses reported in recent quarters.
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