Perma-Fix Environmental Services, Inc. (PESI): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el intrincado mundo de los servicios ambientales, Perma-Fix Environmental Services, Inc. (PESI) surge como un jugador crítico que transforma los complejos desafíos de gestión de residuos en soluciones sostenibles. Al navegar por la delicada intersección de los desechos nucleares, la remediación industrial y las tecnologías ambientales de vanguardia, el modelo de negocio de Pesi representa un enfoque sofisticado para abordar algunos de los desafíos más desafiantes que enfrentan las industrias y las agencias gubernamentales hoy. Al aprovechar las capacidades tecnológicas avanzadas, la experiencia regulatoria integral y una red estratégica de asociaciones, esta empresa innovadora ofrece un ecosistema holístico de tratamiento de residuos, eliminación y servicios de restauración ambiental que van mucho más allá de las paradigmas tradicionales de gestión ambiental.

Perma -Fix Environmental Services, Inc. (PESI) - Modelo de negocios: asociaciones clave

Instalaciones nucleares y agencias gubernamentales contratos de gestión de residuos

A partir de 2024, los servicios ambientales de Perma-Fix mantienen asociaciones estratégicas con las siguientes entidades de gestión de residuos nucleares:

Organización asociada	Valor de contrato	Duración del contrato
Departamento de Energía de los Estados Unidos	$ 12.3 millones	2023-2025
Laboratorio Nacional de Oak Ridge	$ 5.7 millones	2024-2026
Soluciones nucleares de Savannah River	$ 8.9 millones	2024-2027

Asociaciones de firma de consultoría ambiental

Las asociaciones clave de consultoría ambiental incluyen:

• CH2M Hill
• Servicios ambientales de Tetra Tech
• Aecom

Proveedores de tecnología para soluciones de tratamiento avanzadas

Detalles de la asociación tecnológica:

Proveedor de tecnología	Tecnología especializada	Monto de la inversión
Tecnologías ambientales de Veolia	Tratamiento avanzado de residuos de arco de plasma	$ 3.2 millones
Waste Management Inc.	Procesamiento de residuos radiactivos especializados	$ 2.8 millones

Colaboración de instituciones de investigación

Asociaciones de investigación actuales:

• Laboratorio Nacional de Idaho
• Laboratorio Nacional del Noroeste del Pacífico
• Centro de investigación de gestión de residuos de la Universidad de Tennessee

Cumplimiento regulatorio y asociaciones legales

El cumplimiento y las asociaciones de asesoramiento legal incluyen:

• Pillsbury Winthrop Shaw Pittman LLP
• Grupo de consultoría de la Comisión Reguladora Nuclear
• Especialistas en derecho ambiental Inc.

Perma -Fix Environmental Services, Inc. (PESI) - Modelo de negocio: actividades clave

Tratamiento y eliminación de residuos peligrosos y radiactivos

A partir de 2024, los servicios ambientales de fijación de Perma procesan aproximadamente 120,000 toneladas de desechos peligrosos anualmente. La compañía opera 5 instalaciones de tratamiento especializadas en todo Estados Unidos.

Tipo de desecho	Volumen de procesamiento anual	Costo promedio de tratamiento
Desechos radiactivos	45,000 toneladas	$ 1,250 por tonelada
Desechos químicos	75,000 toneladas	$ 850 por tonelada

Remediación ambiental y restauración del sitio

En 2024, se completó el perma-fix 37 proyectos principales de remediación ambiental con un valor total del proyecto de $ 42.6 millones.

• Duración promedio del proyecto: 14-18 meses
• Sitios de remediación en 12 estados
• Especializado en compleja restauración de sitios industriales y gubernamentales

Servicios técnicos y consultoría de gestión de residuos

Categoría de servicio	Ingresos anuales	Número de clientes
Consultoría industrial	$ 8.3 millones	126 clientes
Evaluación técnica	$ 5.7 millones	84 clientes

Cumplimiento y apoyo regulatorio

Perma-fix proporciona soporte regulatorio para 214 clientes industriales En 2024, con servicios de cumplimiento que generan $ 12.5 millones en ingresos anuales.

Servicios de laboratorio y de pruebas analíticas

La compañía opera 3 laboratorios de pruebas ambientales acreditadas Con las siguientes capacidades:

Categoría de prueba	Pruebas anuales realizadas	Acreditación
Análisis de material peligroso	52,000 pruebas	ISO 17025
Monitoreo ambiental	38,000 pruebas	Certificado por la EPA

Perma -Fix Environmental Services, Inc. (PESI) - Modelo de negocios: recursos clave

Instalaciones especializadas en tratamiento y eliminación

A partir de 2024, los servicios ambientales de Perma-Fix opera múltiples instalaciones de tratamiento y eliminación en todo Estados Unidos. La compañía mantiene 6 instalaciones de tratamiento primario con una capacidad de procesamiento total de 275,000 toneladas de desechos peligrosos y no peligrosos anualmente.

Ubicación de la instalación	Capacidad de procesamiento de residuos (toneladas/año)	Tipo de instalación
Gainesville, Florida	85,000	Tratamiento de residuos peligrosos
Dayton, Ohio	65,000	Procesamiento de residuos mixtos
Richland, Washington	55,000	Gestión de residuos nucleares
Otros lugares	70,000	Varias instalaciones especializadas

Equipo tecnológico avanzado para el procesamiento de residuos

PESI ha invertido $ 12.3 millones en equipos tecnológicos avanzados en 2023-2024, centrándose en tecnologías de procesamiento de desechos de vanguardia.

• Sistemas de tratamiento térmico: 3 unidades, valor de reemplazo de $ 4.5 millones
• Equipo especializado de estabilización química: 5 unidades, valoradas en $ 2.8 millones
• Maquinaria de procesamiento de residuos radiactivos de alta precisión: 2 unidades, inversión de $ 3.2 millones
• Instrumentos analíticos de laboratorio avanzados: 12 unidades, valor total de $ 1.8 millones

Profesionales ambientales y técnicos altamente calificados

A partir del primer trimestre de 2024, PESI emplea 287 profesionales técnicos y ambientales con experiencia especializada.

Categoría profesional	Número de empleados	Experiencia promedio (años)
Ingenieros ambientales	78	12.5
Especialistas en gestión de residuos	95	9.3
Expertos en seguridad nuclear	44	15.2
Técnicos de laboratorio	70	7.8

Tecnologías de gestión y tratamiento de residuos patentados

PESI posee 7 patentes activas relacionadas con las tecnologías de tratamiento de residuos, con una valoración total de propiedad intelectual de $ 6.5 millones a partir de 2024.

Conocimiento integral de cumplimiento regulatorio

La empresa mantiene Documentación de cumplimiento integral Cubriendo múltiples marcos regulatorios, incluidos las regulaciones ambientales a nivel estatal de EPA, NRC y a nivel estatal.

• Certificaciones de cumplimiento de la EPA: 12 certificaciones activas
• Licencias de gestión de residuos de NRC: 4 licencias actuales
• Permisos ambientales a nivel estatal: 23 permisos activos

Perma -Fix Environmental Services, Inc. (PESI) - Modelo de negocio: propuestas de valor

Soluciones integrales de gestión de residuos ambientales

Perma-Fix Environmental Services, Inc. ofrece servicios especializados de gestión de residuos en múltiples sectores:

Segmento de servicio	Ingresos anuales (2023)	Cobertura del mercado
Gestión de residuos nucleares	$ 45.2 millones	Instalaciones federales y comerciales
Tratamiento de residuos industriales	$ 22.7 millones	Fabricación y atención médica
Remediación ambiental	$ 18.5 millones	Sectores gubernamental y privado

Servicios de eliminación de desechos seguros y ambientalmente responsables

PESI proporciona la eliminación de desechos certificados con un historial probado:

• Cero incidentes ambientales principales en los últimos 5 años
• ISO 14001: 2015 Certificación de gestión ambiental
• Tasa de cumplimiento del tratamiento de residuos 99.8%

Cumplimiento regulatorio y mitigación de riesgos

Las métricas de cumplimiento demuestran una sólida gestión de riesgos:

Categoría de cumplimiento	Métrico de rendimiento
Adherencia regulatoria de la EPA	Tasa de cumplimiento del 100%
Estándares de la Comisión Reguladora Nuclear	Certificación completa mantenida
Regulaciones ambientales estatales	Cumple con 48 estados

Enfoques tecnológicos de vanguardia

Destacaciones de inversión e innovación tecnológica:

• Inversión de I + D: $ 3.2 millones en 2023
• Tecnologías de tratamiento de residuos pendientes de patente
• Capacidades avanzadas de destrucción térmica

Estrategias de remediación ambiental sostenible

Indicadores de rendimiento de sostenibilidad:

Métrica de sostenibilidad	2023 rendimiento
Reducción de emisiones de carbono	22% en comparación con la línea de base 2020
Minimización del volumen de residuos	Reducción del 37% en las contribuciones de los vertederos
Eficiencia de reciclaje	68% de tasa de recuperación de material

Perma -Fix Environmental Services, Inc. (PESI) - Modelo de negocios: relaciones con los clientes

Contratos de servicio a largo plazo con clientes industriales

A partir de 2024, los servicios ambientales de Perma-Fix mantienen aproximadamente 47 contratos de servicio a largo plazo con clientes industriales en múltiples sectores. La duración promedio del contrato es de 3.7 años, con un valor total del contrato que oscila entre $ 1.2 millones y $ 4.5 millones por acuerdo.

Tipo de contrato	Número de contratos	Valor anual promedio
Gestión de residuos peligrosos	22	$ 2.3 millones
Remediación ambiental	15	$ 3.1 millones
Servicios de eliminación especializados	10	$ 1.8 millones

Soporte técnico dedicado y equipos de consultoría

PESI emplea a 37 profesionales de apoyo técnico dedicados con una experiencia promedio de la industria de 12.5 años. El equipo de soporte maneja aproximadamente 1,247 interacciones del cliente mensualmente.

• Tiempo de respuesta de soporte técnico: promedio de 2.3 horas
• Calificación de satisfacción del cliente: 92.4%
• Horas de capacitación anual por profesional de apoyo: 84 horas

Soluciones de gestión de residuos personalizadas

En 2024, Perma-Fix desarrolló 63 soluciones únicas de gestión de residuos adaptadas a requisitos específicos del cliente. El proceso de personalización implica una inversión promedio de $ 187,000 por solución especializada.

Cumplimiento regular e informes de desempeño

PESI genera aproximadamente 528 informes integrales de cumplimiento anualmente, con una longitud de informe promedio de 47 páginas. La frecuencia de los informes varía según el contrato, desde mensualmente hasta trimestralmente.

Frecuencia de informes	Porcentaje de contratos
Informes mensuales	42%
Informes trimestrales	38%
Informes semestuales	20%

Comunicación proactiva y participación del cliente

La compañía realiza 94 eventos de participación del cliente anualmente, incluidos talleres técnicos, seminarios de cumplimiento ambiental y sesiones de planificación estratégica. La tasa promedio de retención del cliente es del 87.6%.

• Puntos de contacto anuales de comunicación del cliente: 17 por cliente
• Plataformas de comunicación digital utilizadas: 4
• Tasa de integración de comentarios de los clientes: 76%

Perma -Fix Environmental Services, Inc. (PESI) - Modelo de negocios: canales

Equipo de ventas directo dirigido a clientes industriales y gubernamentales

A partir de 2024, los Servicios Ambientales de Perma-Fix mantienen un equipo de ventas directo dedicado centrado en segmentos del mercado industrial y gubernamental. El equipo de ventas generó $ 37.4 millones en ingresos durante el año fiscal 2023, con un enfoque específico en los servicios nucleares, desechos peligrosos y de remediación ambiental.

Canal de ventas	Ingresos anuales	Segmento de mercado
Ventas industriales directas	$ 22.6 millones	Clientes de fabricación e industrial
Contratos gubernamentales	$ 14.8 millones	Proyectos ambientales federales y estatales

Conferencias de la industria ambiental y ferias comerciales

Perma-Fix participa activamente en eventos de la industria, con un presupuesto anual de la conferencia y la feria comercial de $ 475,000 en 2023. La compañía asistió a 18 principales conferencias ambientales y de gestión de residuos durante el año.

• Conferencia anual del Instituto de Energía Nuclear
• Simposio de gestión de residuos
• Expo de proveedores de la Agencia de Protección Ambiental
• Conferencia internacional de gestión de residuos radiactivos

Plataforma en línea para información y consulta del servicio

La plataforma digital de la compañía recibió 247,000 visitantes únicos en 2023, con una duración de sesión promedio de 4.3 minutos. Las solicitudes de consulta en línea aumentaron en un 22% en comparación con el año anterior.

Métricas de canales digitales	2023 rendimiento
Sitio web Visitantes únicos	247,000
Solicitudes de consulta en línea	1,350
Gasto de marketing digital	$620,000

Propuestas técnicas y materiales de marketing específicos

En 2023, Perma-Fix desarrolló y distribuyó 425 propuestas técnicas personalizadas, con una tasa de conversión del 37% que resultó en contratos firmados.

Redes de asociación estratégica

La compañía mantuvo 12 asociaciones estratégicas en 2023, generando $ 8.2 millones en ingresos colaborativos. Los socios clave incluyen instalaciones nucleares, instituciones de investigación ambiental y contratistas gubernamentales.

Tipo de asociación	Número de socios	Ingresos colaborativos
Asociaciones de instalaciones nucleares	5	$ 4.1 millones
Colaboraciones de la institución de investigación	4	$ 2.6 millones
Redes de contratistas gubernamentales	3	$ 1.5 millones

Perma -Fix Environmental Services, Inc. (PESI) - Modelo de negocios: segmentos de clientes

Instalaciones de generación de energía nuclear

Perma-Fix atiende a 30 centrales nucleares en los Estados Unidos a partir de 2024. El valor anual del contrato de gestión de residuos varía de $ 1.2 millones a $ 4.5 millones por instalación.

Tipo de cliente	Número de clientes	Valor anual promedio del contrato
Centrales nucleares	30	$ 2.8 millones

Agencias gubernamentales federales y estatales

PESI tiene contratos activos con 12 agencias federales y 22 departamentos estatales de gestión ambiental.

Tipo de agencia	Número de contratos	Valor total del contrato
Agencias federales	12	$ 18.6 millones
Agencias estatales	22	$ 9.3 millones

Empresas de fabricación industrial

Sirve a 45 clientes de fabricación industrial en sectores químicos, automotrices y electrónicos.

• Fabricación de productos químicos: 18 clientes
• Fabricación automotriz: 15 clientes
• Fabricación electrónica: 12 clientes

Instituciones de salud e investigación

PESI apoya 25 instalaciones de atención médica e investigación con servicios especializados de gestión de residuos.

Tipo de institución	Número de clientes	Costo de servicio promedio
Instituciones de investigación	15	$750,000
Instalaciones de atención médica	10	$450,000

Gerentes de proyectos de remediación ambiental

Colabora con 40 empresas de gestión de proyectos de remediación ambiental en todo el país.

• Proyectos de remediación a gran escala: 22 clientes
• Proyectos de remediación de pequeños a medios: 18 clientes

Perma -Fix Environmental Services, Inc. (PESI) - Modelo de negocio: Estructura de costos

Mantenimiento de la instalación y gastos operativos

A partir del año fiscal 2023, Perma-Fix Environmental Services, Inc. reportó gastos operativos totales de $ 42.3 millones. El desglose de los costos de mantenimiento de la instalación incluye:

Categoría de gastos	Costo anual
Mantenimiento de la instalación	$ 6.7 millones
Gastos de servicios públicos	$ 3.2 millones
Arrendamiento y alquiler de la instalación	$ 2.9 millones

Inversiones avanzadas de equipos tecnológicos

Pesi invirtió $ 4.5 millones En actualizaciones de equipos tecnológicos e infraestructura en 2023. Las áreas de inversión clave incluyen:

• Tecnologías de tratamiento de residuos peligrosos
• Instrumentación analítica avanzada
• Equipo de monitoreo ambiental
• Actualizaciones del sistema de procesamiento de residuos

Salarios de personal profesional altamente especializado

Los gastos totales de personal para 2023 fueron $ 18.6 millones, con la siguiente distribución salarial:

Categoría de personal	Asignación salarial anual
Especialistas técnicos	$ 8.3 millones
Científicos ambientales	$ 5.7 millones
Personal administrativo	$ 4.6 millones

Costos de cumplimiento y certificación regulatoria

Pesi asignado $ 2.1 millones A los gastos de cumplimiento y certificación regulatoria en 2023, incluyendo:

• Monitoreo de cumplimiento de la EPA
• Certificaciones ambientales a nivel estatal
• Gastos de seguridad y auditoría ambiental
• Informes regulatorios y documentación

Investigación y desarrollo para soluciones innovadoras

Los gastos de investigación y desarrollo para 2023 totalizaron $ 3.2 millones, enfocándose en:

• Tecnologías de tratamiento de residuos avanzados
• Métodos de remediación ambiental sostenible
• Soluciones innovadoras de gestión de residuos peligrosos
• Reducción de carbono e investigación de sostenibilidad ambiental

Perma -Fix Environmental Services, Inc. (PESI) - Modelo de negocios: flujos de ingresos

Tarifas de servicio de tratamiento y eliminación de residuos

A partir del informe anual de 2023, los servicios ambientales de fijación de Perma generaron $ 46.3 millones en ingresos totales de los servicios de tratamiento y eliminación de residuos en varios sectores industriales y gubernamentales.

Categoría de servicio	Ingresos ($)	Porcentaje de total
Tratamiento de residuos industriales	23,150,000	50%
Eliminación de desechos gubernamentales	15,790,000	34%
Servicios de residuos médicos	7,360,000	16%

Contratos de remediación ambiental a largo plazo

En 2023, los contratos de remediación ambiental a largo plazo contribuyeron con $ 18.7 millones al flujo de ingresos de la Compañía.

• Contratos de remediación de instalaciones nucleares: $ 8.5 millones
• Proyectos de restauración del sitio de Superfund: $ 6.2 millones
• Contratos de limpieza del Departamento de Energía: $ 4,000,000

Servicios de consultoría y soporte técnico

Los servicios de consultoría técnica generaron $ 7.2 millones en ingresos para el año fiscal 2023.

Tipo de servicio de consultoría	Ingresos ($)
Consultoría de cumplimiento ambiental	3,600,000
Evaluación de riesgos técnicos	2,100,000
Aviso de estrategia regulatoria	1,500,000

Ingresos de laboratorio y pruebas analíticas

Los servicios de laboratorio representaron $ 5.9 millones en ingresos durante 2023.

• Pruebas de material peligroso: $ 2,850,000
• Análisis de muestras ambientales: $ 1,750,000
• Servicios de prueba radiológica: $ 1,300,000

Servicios de cumplimiento y documentación regulatoria

Los servicios de cumplimiento regulatorio generaron $ 4.5 millones en ingresos para el año fiscal 2023.

Servicio de cumplimiento	Ingresos ($)	Segmento de clientes
Documentación de la EPA	2,000,000	Gobierno
Cumplimiento regulatorio nuclear	1,500,000	Sector energético
Informes ambientales a nivel estatal	1,000,000	Clientes industriales

Perma-Fix Environmental Services, Inc. (PESI) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Perma-Fix Environmental Services, Inc. (PESI) over the competition, especially as environmental regulations tighten. It's about proven destruction and comprehensive service packages, not just waste disposal.

Compliant, Permanent Destruction of PFAS with Zero Air Emissions

The primary draw here is the destruction of Per- and polyfluoroalkyl substances (PFAS) using the Perma-FAS technology. This process is validated to deliver destruction efficiencies that surpass regulatory requirements, and critically, it does so with zero air emissions. This is a huge differentiator when dealing with persistent contaminants.

Operationally, the first-generation 1,000-gallon PFAS Destruction Reactor in Florida has been running reliably, and it was fully booked into the new year (early 2026) as of late 2025. The company has a current backlog of 20,000 gallons under contract, with expectations for another 25,000 gallons committed. To meet this demand, the second-generation unit, designed to triple capacity (processing 1,000 to 2,000 gallons per shift), is set for commissioning in Q1 2026.

Cost-Effective Alternative to Incineration for PFAS

When you compare the Perma-FAS process to traditional incineration, the math starts to look good for the customer. The technology has demonstrated a 10% to 20% cost advantage over incineration for PFAS destruction. This cost saving, combined with the environmental benefit of zero air emissions, makes it a compelling financial and compliance choice.

Here's a quick look at the financial segment performance supporting this technology:

Metric	Q3 2025 Value	Year-over-Year Change (Q3 2024)
Treatment Segment Revenue	$13.1 million	Increased 45% (from $9.1 million)
Treatment Segment Gross Margin	17.3%	Improved from 4.5%
Treatment Backlog (End of Q3 2025)	$15.4 million	Increased from $7.9 million

What this estimate hides is that the Services Segment revenue actually decreased to approximately $4.4 million in Q3 2025, so the Treatment Segment is carrying the current revenue growth.

Specialized Treatment for Complex Nuclear, Mixed, and Hazardous Waste

Perma-Fix Environmental Services, Inc. is a key player in complex waste streams, particularly for federal agencies. A major value proposition is their role at the Hanford site, where Perma-Fix Northwest is the designated commercial treatment pathway for secondary waste from the Department of Energy's (DOE) Direct-Feed Low-Activity Waste (DFLAW) facility. You can expect initial waste receipts from DFLAW in late Q4 2025 or early 2026, positioning the company for what management sees as a multi-decade revenue opportunity.

The company also solidified its long-term service capability by acquiring the Environmental Waste Operations Center (EWOC) near Oak Ridge, Tennessee, which has over 29,000 square feet of licensed area for radioactive materials processing.

End-to-End Service for AFFF Replacement: Destruction and Fluorine-Free Foam Supply

To simplify the transition away from legacy firefighting agents, Perma-Fix Environmental Services, Inc. announced a joint distribution agreement with Enforcer One, LLC on December 4, 2025. This creates a bundled offering that covers the entire lifecycle for customers like fire departments and airports.

The value proposition here is the seamless pairing of services:

• Destruction of legacy PFAS-based Aqueous Film-Forming Foams (AFFF) using Perma-FAS technology.
• Supply of next-generation, fluorine-free replacement foams, specifically Enforcer One's FIREBULL® concentrates.
• Provision of Enforcer® brand Compressed Air Foam Systems (CAFS) equipment.

This 'cradle-to-grave' approach converts remediation demand into follow-on equipment and consumable supply opportunities, which is a smart way to lock in future revenue streams.

Project Management and Technical Services for Federal Cleanup Sites

Through its Services Segment, Perma-Fix Environmental Services, Inc. offers deep technical capability for federal cleanup, including project investigation, radiological engineering, and decontamination/decommissioning (D&D). This expertise is demonstrated by past contract wins, such as the $40 million, 5-year contract awarded in 2023 to its joint venture, Enviro-Fix Solutions, LLC, by the U.S. Army Corps of Engineers (USACE) for work at the Niagara Falls Storage Site (NFSS). While the Services Segment revenue saw a dip to $4.4 million in Q3 2025, the underlying capability remains a core value proposition for securing complex, long-term government remediation work.

Finance: draft 13-week cash view by Friday.

Perma-Fix Environmental Services, Inc. (PESI) - Canvas Business Model: Customer Relationships

You're looking at how Perma-Fix Environmental Services, Inc. (PESI) manages its relationships across its diverse customer base, which spans long-term federal contracts and transactional commercial work. It's a mix of deep partnership and straightforward service delivery.

Dedicated personal assistance for complex, long-term government projects

For major federal initiatives, the relationship is built on long-term support and specialized technical integration. Perma-Fix Environmental Services, Inc. is the designated commercial treatment pathway for secondary waste streams generated during the hot commissioning of the U.S. Department of Energy's (DOE) Direct-Feed Low-Activity Waste (DFLAW) facility at Hanford, a program expected to generate a multi-decade, high-volume revenue opportunity. The company is prepared to support these operations as volumes ramp up, anticipating initial waste receipts from DFLAW later in the fourth quarter or early 2026. This level of involvement requires close, dedicated coordination with federal agencies.

Co-creation of solutions for new waste streams like PFAS and Hanford DFLAW

The development of proprietary destruction technology demonstrates a co-creation approach, especially for emerging waste challenges. Perma-Fix Environmental Services, Inc.'s first-generation Perma-FAS system has achieved complete destruction of Per- and polyfluoroalkyl substances (PFAS) compounds at a 10% to 20% cost advantage to incineration with 0 air emissions. This technology has a current backlog of 20,000 gallons under contract, with anticipated commitments for another 25,000 gallons. Management forecasted PFAS revenue starting around $150,000 a month through the end of 2025, with expectations to approach $500,000 a month in revenue later in 2026. The company also received its first commercial shipments of new PFAS waste types in June 2025.

Contractual relationships with federal agencies

Federal relationships are cemented through multi-year, large-scale contract vehicles. While the specific $240 million Navy IDIQ you mentioned wasn't detailed in the latest reports, Perma-Fix Environmental Services, Inc. did secure a position on the Navy's RADMAC III Indefinite Delivery, Indefinite Quantity (IDIQ) contract, which is expected to provide a steady stream of task order bid opportunities. Separately, the company is part of a bidding conglomerate for the West Valley cleanup project, which is a 10-year IDIQ contract with a maximum value up to $3.0 billion, where Perma-Fix Environmental Services, Inc. acts as a teaming subcontractor. The Services Segment, which handles many government services, saw revenue decrease to approximately $4.4 million for the three months ended September 30, 2025, from $7.7 million in the corresponding period of 2024, partly due to project mobilization delays from existing government contracts.

The nature of federal contracts often leads to variable short-term revenue, as seen in the Services Segment performance:

Metric	Q3 2025 Amount	Q3 2024 Amount
Services Segment Revenue	$4.4 million	$7.7 million
Services Segment Gross Margin	6.7%	11.9%

Transactional sales for commercial waste treatment volumes

The Treatment Segment relies on more transactional sales driven by waste volume and mix, serving both commercial and international customers. Treatment Segment revenue increased year-over-year to approximately $13.1 million for the third quarter of 2025, up from $9.1 million in Q3 2024. This revenue growth was supported by increases from both commercial and international waste customers. Waste receipts in the Treatment Segment more than doubled in Q2 2025 to approximately 14.0 million units (likely gallons) compared to Q2 2024. The Treatment Segment gross margin improved significantly to 17.3% in Q3 2025 from 4.5% in Q3 2024, driven by higher waste volume and a better averaged price from the waste mix.

Key drivers for the Treatment Segment's transactional revenue include:

• Treatment Segment Revenue in Q3 2025: $13.1 million.
• Year-over-year Treatment Revenue Increase (Q3 2025 vs Q3 2024): 45%.
• Waste Receipts in Q2 2025: More than doubled compared to Q2 2024.
• Treatment Segment Gross Margin in Q3 2025: 17.3%.

Finance: draft 13-week cash view by Friday.

Perma-Fix Environmental Services, Inc. (PESI) - Canvas Business Model: Channels

You're looking at how Perma-Fix Environmental Services, Inc. (PESI) gets its services and technology to the people who need them, especially as of late 2025. It's a mix of direct government work and commercial partnerships.

Direct contracting with federal agencies (DOE, DoD)

Direct engagement with federal bodies remains a cornerstone channel, particularly for the Treatment segment. You see this through major contract vehicles that secure future work. For instance, in August 2025, Perma-Fix Environmental Services, Inc. was named one of five awardees for Basic Ordering Agreements (BOAs) by the U.S. Department of Energy (DOE) Office of Environmental Management for nationwide low-level and mixed low-level commercial waste treatment services. The value for these BOAs is set at the task-order level over a five-year ordering period. Also in the pipeline is eligibility for task orders under a 10-year, small business set-aside Indefinite Delivery/Indefinite Quantity (IDIQ) contract with the DOE for Deactivation, Decommissioning and Removal (DD&R) services, which has a maximum ceiling value of $2 billion over the decade. To be fair, the most recent direct dollar figure found for a Department of Defense (DoD) contract was much smaller, recorded at $26,800 back in 2022/2023, but the larger vehicles are where the future revenue potential lies.

Direct sales force targeting commercial nuclear and industrial customers

The direct sales effort targets commercial and international entities, primarily feeding the Treatment segment. This channel shows strong recent traction. For the third quarter of 2025, revenue in the Treatment segment hit $13.1 million, which was a 45% year-over-year increase from $9.1 million in Q3 2024. Management noted these gains were supported by increases from both commercial and international waste customers. This segment's gross margin also expanded significantly to 17.3% in Q3 2025, up from 4.5% the prior year, showing the effectiveness of their direct sales approach on project mix and pricing for these customers.

Joint distribution network with Enforcer One for PFAS solutions

This is a newer, strategic channel established in December 2025 to offer an end-to-end solution for PFAS foam transition. Perma-Fix Environmental Services, Inc. offers its Perma-FAS PFAS destruction technology, while Enforcer One provides FIREBULL fluorine-free foams and Enforcer compressed air foam systems (CAFS). The channel is already showing immediate demand; the company's 1,000-gallon Florida-based Perma-FAS unit has achieved full bookings into the new year (early 2026) based on this partnership and other PFAS destruction demand. This channel directly addresses fire departments, airports, industrial facilities, and defense organizations needing to retire legacy Aqueous Film Forming Foams (AFFF).

On-site presence at customer facilities for Services segment execution

The Services segment relies heavily on an on-site presence for execution, providing project management, waste management, and other support services directly at customer locations, often government-related. This channel experienced a dip in activity late in 2025. For the three months ended September 30, 2025, Services Segment revenue decreased to approximately $4.4 million, down from $7.7 million in the same period of 2024. This lower activity, attributed partly to delays in project mobilization and contract awards from government entities, also impacted profitability; the Services Segment gross profit decreased by $633,000, and its gross margin fell to 6.7% from 11.9% year-over-year.

Here's a quick look at the revenue distribution across the main service delivery channels for Q3 2025:

Channel/Segment Focus	Q3 2025 Revenue (Millions USD)	Year-over-Year Revenue Change	Q3 2025 Gross Margin
Treatment Segment (Commercial/International Focus)	$13.1	+45%	17.3%
Services Segment (On-site Government/Commercial)	$4.4	Decrease from $7.7 (Q3 2024)	6.7%
Total Company Revenue	$17.5	+4% (from $16.8M in Q3 2024)	14.6% (Total Gross Margin)

The PFAS destruction services, which are a growing part of the Treatment segment, are clearly a key focus area for future channel development, especially with the new Enforcer One partnership.

• DOE BOAs awarded in August 2025 for low-level waste treatment.
• Eligibility for a 10-year DOE IDIQ contract with a $2 billion ceiling.
• PFAS destruction unit fully booked into early 2026.
• Services segment revenue dropped to $4.4 million in Q3 2025.

Perma-Fix Environmental Services, Inc. (PESI) - Canvas Business Model: Customer Segments

You're looking at the customer base for Perma-Fix Environmental Services, Inc. (PESI) as of the third quarter of 2025. The business model clearly segments its clients across federal, commercial, and international waste streams, with the Treatment Segment being the primary revenue engine.

For the third quarter ending September 30, 2025, total revenue was $17.5 million, with the Treatment Segment contributing $13.1 million, marking a 45% year-over-year increase. The Services Segment brought in $4.4 million for the same period. The Trailing Twelve Month (TTM) revenue as of September 30, 2025, stood at approximately $60.7 million.

Here's a breakdown of the key customer groups:

• Federal Government: Department of Energy (DOE) and Department of Defense (DoD)
• Commercial Nuclear Industry: Power plants and decommissioning projects
• Industrial/Municipal: Fire departments, airports, and industrial facilities (for PFAS)
• Hospitals, Research Labs, and Institutions generating low-level radioactive waste
• International Customers providing waste for treatment

Federal Government: Department of Energy (DOE) and Department of Defense (DoD)

Federal agencies, including the DOE and DoD, are significant customers, primarily served through the Services Segment, which experienced lower activity in Q3 2025 due to project mobilization delays and slower contract award timing from these government-related entities. Still, the long-term potential from federal work is substantial. Perma-Fix Environmental Services, Inc. is a subcontractor on a DOE cleanup project at the West Valley Demonstration Project, which has a 10-year ordering period with a potential maximum value up to $3 billion. Furthermore, Perma-Fix Environmental Services, Inc. was selected by the DOE for a 10-year, small business set-aside IDIQ contract to provide Deactivation, Decommissioning and Removal (DD&R) services, with a maximum ceiling of $2 billion over the decade. The Hanford Direct Feed Low-Activity Waste (DFLAW) program is also a critical area, positioning Perma-Fix Environmental Services, Inc. as a key commercial link for secondary waste streams.

Commercial Nuclear Industry: Power plants and decommissioning projects

This segment contributes to the Treatment Segment's performance. The increase in Treatment Segment revenue in Q3 2025 was supported by gains from commercial waste customers, reflecting higher overall waste volumes and improved throughput at facilities. The Treatment Segment backlog ended Q3 2025 at $15.4 million, up from $7.9 million at the end of 2024, providing strong revenue visibility.

Industrial/Municipal: Fire departments, airports, and industrial facilities (for PFAS)

Perma-Fix Environmental Services, Inc. is a leader in the emerging Per- and polyfluoroalkyl substances (PFAS) destruction market using its Perma-FAS system, which achieves over 99.99% destruction efficiency. The company is engaged with multiple industrial and municipal customers for multi-year destruction programs. As of Q3 2025, there was a backlog of 20,000 gallons under contract for PFAS destruction, with anticipated commitments for another 25,000 gallons. Management projected a revenue ramp for PFAS treatment to reach $500,000 per month by the end of 2026.

Hospitals, Research Labs, and Institutions generating low-level radioactive waste

This customer base utilizes Perma-Fix Environmental Services, Inc.'s nuclear waste services, which include management and treatment of radioactive and mixed waste. These services are part of the core offerings managed through the Treatment Segment.

International Customers providing waste for treatment

International business is a noted contributor to the Treatment Segment's growth. The Q3 2025 revenue increase included gains from international waste customers. Earlier guidance mentioned a €50 million contract in Italy.

The revenue contribution across the primary operational segments for Q3 2025 was:

Customer/Segment Group	Q3 2025 Revenue (Millions USD)	Year-over-Year Change	Segment Gross Margin
Treatment Segment (Includes Commercial, DOE, International)	$13.1	+45%	17.3%
Services Segment (Includes DoD, Project Services)	$4.4	Decrease	6.7%

The Treatment Segment's gross margin improved significantly to 17.3% in Q3 2025, up from 4.5% in the prior year period, driven by higher waste volumes and better pricing mix.

Finance: draft 13-week cash view by Friday.

Perma-Fix Environmental Services, Inc. (PESI) - Canvas Business Model: Cost Structure

You're looking at the hard numbers that drive Perma-Fix Environmental Services, Inc.'s operational costs as of late 2025. It's a business heavily reliant on specialized infrastructure and expert teams, so fixed costs play a big role.

High fixed costs for maintaining licensed treatment facilities are a foundational element here. While the exact number of all licensed facilities isn't explicitly detailed in the latest reports, we see the impact of facility operations. For instance, the gross profit improvement in the Treatment segment during Q3 2025 was partially offset by an increase in fixed costs. This suggests that keeping the operational footprint ready-including the Perma-Fix Florida, Inc. facility housing the first-generation PFAS system-requires significant ongoing investment regardless of immediate throughput.

Significant labor costs for specialized nuclear services personnel are embedded within the operating expenses. The increase in Selling, General, and Administrative (SG&A) expenses for Q3 2025 reflected higher personnel-related costs, particularly at executive levels, alongside increased professional services. This points directly to the cost of maintaining the specialized human capital required for nuclear and environmental services.

The overhead structure is quantified by the SG&A figures. For the third quarter ended September 30, 2025, SG&A expenses were $4.1 million. This was an increase of approximately $451,000 compared to the prior year period. Looking at the year-to-date figures for the nine months ended September 30, 2025, SG&A expenses increased by $1,597,000, representing a 15.0% rise over the same period in 2024.

Investment in future capacity drives capital expenditure. The company is actively spending on technology deployment. Year-to-date capital expenditures through September 30, 2025, totaled $2.61 million, focused on the Treatment segment, which included spending for PFAS treatment systems. Furthermore, management anticipated an additional capex of up to $3.23 million for the remainder of 2025 to support projects like the second-generation PFAS unit, which is nearing completion with commissioning expected in Q1 2026.

Variable costs associated with waste processing and disposal are inherent in the Treatment segment's cost of revenue, though they are often masked by the fixed cost structure when volumes are low. The gross margin for the Treatment segment improved significantly to 17.3% in Q3 2025 from 4.5% in Q3 2024, driven by higher waste volumes and better mix. This margin fluctuation shows that as volume increases, the fixed costs are spread thinner, improving overall profitability, which is typical when variable processing costs are managed effectively relative to revenue.

Here's a quick look at the key cost and performance metrics from Q3 2025:

Cost/Expense Metric	Amount (Q3 2025)	Comparison/Context
SG&A Expenses	$4.1 million	Up approximately $451,000 from prior year
YTD Capital Expenditures (through Sep 30)	$2.61 million	Focused on Treatment segment/PFAS systems
Anticipated Additional Capex (Remainder of 2025)	Up to $3.23 million	For ongoing technology deployment
Treatment Segment Gross Margin	17.3%	Up from 4.5% in Q3 2024
Services Segment Gross Margin	6.7%	Compressed from 11.9% in prior year

The Services segment cost structure is different; its gross margin is impacted because projects are competitively bid on, leading to varying margin structures. This contrasts with the Treatment segment, where fixed costs are a more dominant factor that is leveraged by higher throughput.

• Personnel-related costs contributed to the rise in SG&A expenses.
• The first-generation PFAS system offers a 10% to 20% cost advantage to incineration.
• Operating lease liabilities totaled $2.23 million at quarter end.
• Total debt stood at $1.9 million as of September 30, 2025.

Finance: draft 13-week cash view by Friday.

Perma-Fix Environmental Services, Inc. (PESI) - Canvas Business Model: Revenue Streams

You're looking at the core income drivers for Perma-Fix Environmental Services, Inc. (PESI) as of late 2025, and honestly, the story is about a major shift toward the Treatment Segment. The trailing twelve-month revenue, as of September 30, 2025, stands at approximately $60.7 million. This total revenue for the third quarter of 2025 was $17.5 million, which shows the company is generating revenue, even while managing near-term segment volatility.

The Treatment Segment is clearly the engine right now, showing significant operational improvement. This segment, focused on waste processing, brought in $13.1 million in Q3 2025. That's a year-over-year revenue increase of 45% for the segment, and the gross margin improved substantially to 17.3% from just 4.5% in the prior year's third quarter. Here's a quick look at how the two main operational segments stacked up for the quarter:

Revenue Stream	Q3 2025 Revenue (Millions USD)	Q3 2024 Revenue (Millions USD)
Treatment Segment Revenue	$13.1	$9.1
Services Segment Revenue	$4.4	$7.7

The Services Segment, which covers on-site technical work, contributed $4.4 million in Q3 2025. This was a step down from the $7.7 million seen in Q3 2024, largely due to delays in project mobilization and slower contract awards, especially from government-related entities. It's a timing issue, but it does create near-term revenue choppiness.

Looking ahead, the real financial upside is tied to multi-year, high-volume programs and new technology adoption. These represent the recurring and high-potential revenue streams that analysts are watching closely:

• Recurring revenue from long-term contracts like the Hanford DFLAW program, with initial waste receipts anticipated later in Q4 2025 or early 2026.
• Sales of PFAS destruction services and related equipment/foam, with the second-generation unit, capable of tripling capacity, on track for commissioning in Q1 2026.
• The Treatment Segment backlog is building, ending the quarter at $15.4 million, which provides strong visibility into 2026.

The company is defintely positioning for a multi-decade revenue opportunity at Hanford. Finance: draft 13-week cash view by Friday.