Boss Energy
ConvictionContext
Produces and sells drummed U3O8 to nuclear utilities under a mix of long-term contracts and spot sales; single operated asset (Honeymoon) plus a non-operated 30% equity interest in Alta Mesa (operator enCore Energy); also holds a strategic physical uranium inventory.
Revenue
AUD $109.6M TTM~USD $72M); H1 FY26 revenue AUD $81.8MRev growth
+129% TTMH1 FY26 +71% YoYGross margin
positive at the operating/EBITDA level on recent realised prices ~US$74/lb vs C1 cash cost US$36-40/lbbut headline net result is a lossOp margin
negative on a statutory basis - H1 FY26 net loss AUD $7.9MTTM loss larger (~AUD $32.6M, reflecting FY25 charges) driven by non-cash inventory/impairment effects and ramp-up costsCapex intensity
high - FY26 growth/sustaining capex guidance was raised during the 2025 resetISR wellfield development is ongoingMarket cap
~USD $370MAUD $563M, ASX:BOE, ~7 Jul 2026The read
Where our coverage leans
Coverage leans bullish
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Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
Not investment advice — analyst work product for a qualified professional.· intel vintage 2026-07· sign in (free) for the analyst summary; Pro unlocks full intelligence