UEC Uranium Energy Corp.

UEC's 2026 10-K introduces cybersecurity/AI, marketable securities, inflation, anti-bribery, and data-center demand risks while escalating reclamation underfunding, permitting delays, and litigation exposure, and dropping several corporate-governance and tax-law risk factors.

• highWe are dependent on information technology systems, which are subject to certain risks, including cybersecurity risks and data leakage risks associated with implementation and integration. — New risk addressing IT system disruptions, cyber-attacks, AI-related vulnerabilities, and data integrity threats to operations and reputation.
• medFluctuations in the fair value of our marketable equity securities could materially affect our results of operations, financial condition and cash flows. — New risk from holding publicly traded equity securities whose mark-to-market volatility can materially impact reported earnings and liquidity.
• medDemand for power generation for AI and data center operations impacts the uranium market and as a result, risks related to AI and data center operations may have an adverse effect on the marketability of uranium. — New risk tying uranium demand outlook to rapidly evolving data-center and AI power-generation trends outside the company's control.

• highEstimated costs of future reclamation obligations may be significantly exceeded by actual costs incurred in the future. Furthermore, only a portion of the financial assurance required for the future reclamation obligations has been funded. — Reclamation liability rose to $43.14M from $39.06M, total estimated costs to $93.92M from $88.67M, and the unfunded surety gap widened to $62.38M from $50.01M while funded restricted cash fell to $1.89M from $9.21M.
• highWe may not be able to obtain, maintain or amend rights, authorizations, licenses, permits or consents required for our operations. — Current filing adds detailed risks of RML public-participation objections, third-party challenges, inexperienced agency staff, and government shutdowns delaying permit approvals.
• highWe may be subject to litigation and regulatory and judicial proceedings, including third-party challenges to our permits and licenses, which could be costly, divert management attention and adversely affect our operations. — Expanded risk now specifically cites Goliad Project permit challenges awaiting resolution and details contested-case hearings, petitions for judicial review, and potential permit revocation or remand.

Current 10-K · Prior 10-K