Perma-Fix Environmental Services, Inc. reported revenue of $16.81 million for the third quarter ended September 30, 2024, marking a 23.2% decrease from $21.89 million in the corresponding period of 2023. The company recorded a GAAP loss of $0.57 per share, compared to a loss of $0.09 per share in Q3 2023.
The Services Segment revenue decreased by $3.9 million to $7.9 million in Q3 2024 from $11.8 million in Q3 2023, primarily due to ongoing delays in service starts. The Treatment Segment revenue also saw a decrease of $1.2 million to $8.9 million in Q3 2024 from $10.1 million in Q3 2023, mainly attributed to lower waste volume.
Gross profit for Q3 2024 was $1.2 million, a significant reduction from $3.6 million in Q3 2023. The gross margin for the Services Segment declined to 10.1% from 20.3%, while the Treatment Segment's gross margin decreased to 3.4% from 15.8%. Operating loss for the quarter was $3.6 million, compared to an operating loss of $0.6 million in the prior year period.
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