Reports Q3 revenue $16.8M vs. $21.9M last year. Mark Duff, President and CEO of the Company, commented, “During the third quarter, we continued to experience temporary weakness, partly due to ongoing delays in service starts and waste shipments. Additionally, our Florida facility was impacted by Hurricane Helene, resulting in extended power outages and required repairs, which have since been completed. In light of the headwinds we faced in 2024, we reduced expenses and streamlined operations outside of R&D, which should result in improved profitability going forward. Moreover, performance within our Services Segment and across our treatment plants has steadily improved in the latter part of the quarter, which we anticipate should continue into Q4. In addition, an agency of the federal government recently announced that we were part of a winning team awarded a service project over a 10-year period. While we cannot provide specifics at this time, we plan to provide specifics about this award as soon as practical.Last week, we announced the successful startup of our first commercial Perma-FAS system for PFAS destruction at our Florida facility. We are extremely pleased with the performance of this unit, and feedback from existing and prospective customers has been highly encouraging. We have already secured approximately 6,000 gallons of AFFF liquids and anticipate receiving an additional 20,000 gallons in the coming months. We are also working to expand this technology into additional applications, including Granular Activated Carbon, biosolids, and soils. Finally, we look forward to providing critical services to the U.S. Department of Energy’s Hanford tank remediation mission, including the treatment of effluent following the commissioning of the Direct Feed Low-Activity Waste facility, which is currently anticipated to begin in the summer of 2025. We believe these programs will represent opportunities for Perma-Fix over the coming years.”
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