PERMA FIX ENVIRONMENTAL SERVICES INC
For the period ended Dec 31, 2025. Filed Mar 24, 2026.
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FY2025 · Filed Mar 24, 2026
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Special Note Regarding Forward-Looking Statements
Forward-looking Statements
Certain statements contained within this report may be deemed “forward-looking statements” within the meaning of the “Private Securities Litigation Reform Act of 1995”. All statements in this report other than a statement of historical fact are forward-looking statements that are subject to known and unknown risks, uncertainties and other factors, which could cause actual results and performance of the Company to differ materially from such statements. The words “believe,” “expect,” “anticipate,” “intend,” “will,” and similar expressions identify forward-looking statements. Forward-looking statements contained herein relate to, among other things,
| ● | demand for our services; |
| ● | international opportunities in 2026; |
| ● | reductions in the level of government funding in future years; |
| ● | pending priorities of Congress; |
| ● | passage of U.S. fiscal year government budgets or enactment of CRs to keep government departments and agencies in operations; |
| ● | improvement in financial results in 2026; |
| ● | increase in revenue under Italian contract in late 2026; |
| ● | advancement of our Perma-FAS technology; |
| ● | demand, pricing, or throughput levels for PFAS waste volumes are sufficient to offset costs incurred from PFAS initiatives; |
| ● | capability and capacity of PFNWR facility to support the DFLAW program; |
| ● | treatment of several effluent waste streams by our PFNWR facility; |
| ● | operational phase of DFLAW to begin in 2026; |
| ● | increase in Hanford waste receipts in first half of 2026; |
| ● | delays in anticipated treatment waste volumes; |
| ● | operating losses in the near term; |
| ● | reducing operating costs and non-essential expenditures; |
| ● | ability to meet our quarterly financial covenant requirements under our loan agreement; |
| ● | expansion into international markets; |
| ● | cash flow requirements; |
| ● | sufficient cash flow and Liquidity to fund operations for the next twelve months; |
| ● | amount of capital expenditures; |
| ● | manner in which the applicable government authority will be required to spend funding to remediate various sites; |
| ● | success in bidding on international contracts; |
| ● | funding of operating and capital expenditures from existing cash from operations, Liquidity under our Credit Facility, and/or financing; |
| ● | the efficacy of our PFAS technology process compared to other PFAS destruction or treatment methods; |
| ● | adoption and acceptance of our PFAS technology are subject to regulatory and market factors; |
| ● | limited current treatment destruction options for these materials to eliminate generator liabilities; |
| ● | deployment of the second generation PFAS destruction unit in second half of 2026; |
| ● | expectation that the second generation PFAS destruction unit will triple our production capacity; |
| ● | funding of remediation expenditures for sites from funds generated internally; |
| ● | compliance with environmental regulations; |
| ● | positioning for procurements from DOE and other government agencies; |
| ● | initiatives for 2026; |
| ● | adjustment to remediation reserves; |
| ● | remediation of material weakness identified; |
| ● | potential effect of being a PRP; and |
| ● | potential violations of environmental laws and attendant remediation at our facilities. |
While the Company believes the expectations reflected in such forward-looking statements are reasonable, it can give no assurance such expectations will prove to be correct. There are a variety of factors which could cause future outcomes to differ materially from those described in this report, including, but not limited to:
| ● | general economic conditions and uncertainties; |
| ● | inability to properly bid contracts; |
| ● | reduction in or inability to obtain new contracts with federal, state and local governments, agencies and departments, resulting in a reduction in revenue; |
| ● | changes in federal government budgeting and spending priorities; |
| ● | failure by Congress or other governmental bodies to approve budgets and debt ceiling increases in a timely fashion and related reductions in government spending; |
| ● | tariff actions and uncertainties related to trade wars; |
| ● | inability to meet PNC covenant requirements; |
| ● | inability to collect in a timely manner a material amount of receivables; |
| ● | increased competitive pressures; |
| ● | inability to maintain and obtain required permits and approvals to conduct operations; |
| ● | inability to develop new and existing technologies in the conduct of operations; |
| ● | inability to maintain and obtain closure and operating insurance requirements; |
| ● | discovery of additional contamination or expanded contamination at any of the sites or facilities leased or owned by us or our subsidiaries which would result in a material increase in remediation expenditures; |
| ● | refusal of third-party disposal sites to accept our waste; |
| ● | changes in federal, state and local laws and regulations, especially environmental laws and regulations, or in interpretation of such; |
| ● | new or additional requirements to handle low-level radioactive and hazardous waste materials; |
| ● | management retention and development; |
| ● | financial valuation of intangible assets is substantially more/less than expected; |
| ● | the need to use internally generated funds for purposes not presently anticipated; |
| ● | inability of the Company to maintain the listing of its Common Stock on the Nasdaq; |
| ● | terminations of contracts with government agencies or subcontracts involving government agencies or reduction in amount of waste delivered to the Company under the contracts or subcontracts; |
| ● | failure of our Italian team partner to perform its requirements in connection with the Italian project; |
| ● | changes in the scope of work relating to existing contracts; |
| ● | occurrence of a health pandemic having adverse effects on the U.S. and world economics; |
| ● | renegotiation or termination of contracts involving government agencies; |
| ● | disposal expense accrual could prove to be inadequate in the event the waste requires re-treatment; |
| ● | inability to raise capital on commercially reasonable terms; |
| ● | inability to increase profitable revenue; |
| ● | risks resulting from expanding our service offerings and client base; |
| ● | non-acceptance of our new technology; |
| ● | adjustments to our valuation allowance; |
| ● | supply chain difficulties; |
| ● | pricing adjustments; |
| ● | cost reduction measures; |
| ● | new governmental regulations; and |
| ● | risk factors contained in Item 1A of this report |
Our forward-looking statements are based on the beliefs and assumptions of our management and the information available to our management at the time these statements were prepared. Although we believe the expectations reflected in these statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. You should not place undue reliance on these forward-looking statements, which apply only as of the date of this Annual Report on Form 10-K. We undertake no obligation to update these forward-looking statements, even if our situation changes in the future.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.