Key Highlights

  • Boss Energy (ASX:BOE) shares traded at $1.44 on 11 September 2026, down 6.49% ($0.100) for the day, and down 17.24% over the past year.
  • Boss Energy is a uranium producer operating the Honeymoon Uranium Operation in South Australia.
  • FY26 sales Revenue doubled to $151.1 million, with net profit after tax of $2.5 million, a $36.7 million improvement on FY25.
  • FY27 guidance points to higher production costs, with AISC of $83-92 per pound, up from $61 per pound in FY26.

Boss Energy Limited (ASX:BOE) shares traded at $1.44 on 11 September 2026, down 6.49%, or $0.100, for the day. Over the past 12 months, the stock is down 17.24%. Boss Energy is a uranium producer operating the Honeymoon Uranium Operation in South Australia, alongside its Alta Mesa project in the United States.

Latest Developments: FY26 Results

Revenue Doubles as Company Returns to Profit

Boss Energy reported a net profit after tax of $2.5 million for FY26, a $36.7 million improvement from the FY25 net loss of $34.2 million. The Group generated revenue of $151.1 million, up from $75.6 million in FY25, reflecting the sale of 1,400,000 pounds of U3O8 at an average realised price of $111 per pound. FY26 C1 cash cost was $39 per pound and AISC was $61 per pound, both within revised guidance.

Cash Position and FY27 Wellfield Transition

Total cash and Liquid assets stood at $207.3 million at Book Value at 30 June 2026, down $17.0 million from the prior year, though the company remained debt-free throughout the period. Boss Energy issued FY27 production guidance of 1.25 to 1.30 million pounds of U3O8, alongside AISC guidance of $83-92 per pound, materially higher than FY26 actuals, reflecting a transition to a wide-spaced wellfield design that commenced in January 2026.

Catalysts on Investors' Watch

  • Continued production ramp-up under the wide-spaced wellfield design at Honeymoon.
  • A debt-free Balance Sheet with $207.3 million in cash and liquid assets at book value.
  • Spot-price value of uranium inventory increasing to $195 million, supported by higher physical inventory and spot prices.
  • $52.6 million of carried-forward tax losses remaining available to offset future taxable income.

Risks to Watch

  • FY27 AISC guidance of $83-92 per pound is materially higher than FY26's $61 per pound.
  • The company cited mine-development uncertainty experienced since July 2025 affecting near-term production and cost profile.
  • Cash and liquid assets declined $17.0 million during FY26.
  • Uranium prices are subject to global Supply and Demand dynamics that can affect realised revenue.

Conclusion

Boss Energy's share price fell on 11 September 2026 and remains lower than a year ago, even as FY26 results showed a return to profit and a doubling of revenue. The daily price movement and the FY26 results are separate developments, with FY27 guidance signalling a period of transition as production costs rise during the wellfield redesign.