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We are an advanced materials company dedicated to the development of a differentiated isotope enrichment platform to strengthen global supply chain access to critical materials used in nuclear medicine, next-generation semiconductors, and nuclear energy. In addition, in January 2026, we acquired Renergen, which is South Africa s leading onshore natural gas explorer and the first integr…
The business is unprofitable at the operating level (-251.20% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 475.5% YoY with margins expanding 384.8pp.
Negative free cash flow of -$47M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$27M
▲ +475.5% YoY
Net Income (TTM)
-$159M
▼ -393.0% YoY
Op. Margin
-285.38%
▲ +384.8pp YoY
ROIC
-30.85%
▲ +23.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$66M
▼ -79.9% YoY
Op. Cash Flow (TTM)
-$52M
▼ -126.3% YoY
Net Debt
-$229M
Net Cash Position
Cash & Equiv.
$291M
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