Boss Energy Limited reported a net profit after tax of $2.5 million for the 2026 financial year, marking a $36.7 million turnaround from the $34.2 million net loss recorded in FY2025.

Sales revenue doubled to $151.1 million, up from $75.6 million previously, following the sale of 1.4 million pounds of uranium oxide at an average realised price of $111 per pound. The company closed the period with $207.3 million in cash and liquid assets, standing at $171.9 million net of working capital, and no debt. Total uranium inventory increased to 1.581 million pounds.

Boss operates the Honeymoon project in South Australia and holds a 30% joint venture interest in the Alta Mesa operation in South Texas.

During the period, Boss initiated the transition to a wide-spaced wellfield design at Honeymoon in January 2026 following a technical review that withdrew the 2021 Enhanced Feasibility Study.

"FY2026 was a year of significant operational and technical progress for Boss. We doubled sales revenue to $151.1 million, delivered a $36.7 million improvement in net profit after tax and finished the year with a strong, debt-free balance sheet." — Matthew Dusci, Managing Director/ CEO

For FY2027, Boss guided for production of 1.25 million to 1.30 million pounds of uranium oxide, compared with the 1.41 million pounds produced during FY2026. C1 cash costs are expected between $51 and $56 per pound, with all-in sustaining costs projected at $83 to $92 per pound. These figures compare against FY2026 actual C1 costs of $39 per pound and an AISC of $61 per pound.

Boss has designated FY2027 as a transition year and plans to progressively commission new wellfields at Honeymoon to build foundations for future production growth.

"Importantly, we achieved these outcomes while investing in the infrastructure and technical work required to establish a more robust and economically sustainable pathway for Honeymoon. Our disciplined decision to limit further capital investment in legacy wellfields has constrained near-term production but preserved capital for the value-accretive wide-spaced wellfield design confirmed by the New Feasibility Study." — Matthew Dusci, Managing Director/ CEO

The company remains focused on safely delivering this plan, maintaining capital discipline and maximising the long-term value of Honeymoon as it advances through the transition period.

Read the full announcement: FY2026 Financial Results and FY2027 Guidance