• Positive net cash from operating activities of $36.2 million
• Strong balance sheet with $208.0 million of cash and liquid assets and zero debt
• Uranium inventory of 1,615k lbs following accumulation of an additional 206k lbs

Boss Energy Ltd (ASX: BOE; OTCQX: BQSSF) reported strong financial and operating results for the six months to 31 December 2025. Key highlights include positive net cash from operating activities of $36.2 million, a strong balance sheet with $208.0 million of cash and liquid assets and zero debt, and uranium inventory of 1,615k lbs following accumulation of an additional 206k lbs. Revenue increased by 71% to $81.8 million due to an increase in sales from 400k lbs in H1 FY2025 to 750k lbs in H1 FY2026, which reflected an increase in production to 842k lbs (H1 FY2025: 227k lbs) as additional wellfields and NIMCIX columns were brought online. Boss reported a net loss after tax of $7.9 million, primarily driven by the accounting impact of selling purchased inventory and accumulated inventory that includes higher-cost first production. During the half-year, Boss reduced its C1 cost guidance from $41-45/lb to $36-40/lb following positive results from reagent optimisation programs in the wellfields and plant. The company remains in a strong financial position with $208.0 million in cash and liquid assets, which included cash of $52.9 million, up $16.3 million (45%) from the end of FY2025, driven by positive net cash from operating activities of $36.2 million.

Boss reduced its C1 cost guidance from $41-45/lb to $36-40/lb for the financial year.