Perma-Fix reports third quarter 2026 results

Item

2.02 – Results of Operations and Financial Condition

On

November 5, 2026, Perma-Fix Environmental Services, Inc. (the "Company") issued a press release to report its financial results for the three months ended September 30, 2026. The press release is furnished as Exhibit 99.1 hereto¹ and is hereby incorporated by reference in this Item 2.02.

The information furnished pursuant to this Item 2.02, including Exhibit 99.1, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of such section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such filing.

Section

9 – Financial Statements and Exhibits

Item

9.01 – Financial Statements and Exhibits (d)

Exhibits

Exhibit

Number

Description

99.1 Press

release dated November 5, 2026

104 Cover

Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

PERMA-FIX

ENVIRONMENTAL SERVICES, INC.

By:

/s/

Ben Naccarato

Ben

Naccarato

Dated:

November

5, 2026

Executive

Vice President, Chief Financial Officer and Chief Accounting Officer

Perma-Fix

Perma-Fix¹⁰

Northwest now receiving both liquid effluent and dry waste from the Direct-Feed Low-Activity Waste (DFLAW) facility¹⁰

Services⁶

Segment revenue up 46% year over year, with gross margin improving to 12.2% from 6.7%⁶ and positive segment operating income

ATLANTA

- November 5, 2026 - Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) (the "Company") today announced financial results and provided a business update for the third quarter ended September 30, 2026.

Mark

Duff, President and Chief Executive Officer of Perma-Fix, commented, "Our third quarter results reflect meaningful improvement over the first half of the year. Revenue increased 39% sequentially from second quarter of 2026², consolidated gross profit returned to positive territory and our net loss decreased from the second quarter. Results were held back by customer-directed changes in treatment protocols on a Hanford-related waste stream, which required performance testing and final approvals that were not provided until late

August. Processing did not reach full operations until September, pushing revenue out of the quarter. We also took temporary downtime during the quarter to upgrade the thermal treatment systems at our Florida and Kingston facilities. Those upgrades were completed in September and are now supporting the large backlog of waste receipts we built over the summer. Treatment backlog grew approximately 25% during the quarter to $19.6 million³, and the price increases we began implementing in August are also starting to be reflected in new backlog.

"At

Hanford, Perma-Fix Northwest continues to receive liquid effluent from the U.S. Department of Energy's (DOE) DFLAW facility and has begun receiving DFLAW dry waste, and we expect both to increase as DFLAW ramps up to higher production levels. DOE's 2023 amended

Record of Decision identified Perma-Fix Northwest to treat effluent waste from DFLAW operations, on an interim basis expected to last approximately 10 years. Beyond DFLAW, the Company is one of three contractors awarded a Master Indefinite Delivery/Indefinite Quantity¹¹

(IDIQ) Subcontract by Hanford Tank Waste Operations & Closure, LLC ("H2C"), DOE's prime contractor for tank waste operations and closure at the Hanford Site, for the treatment of certain Hanford waste streams.^{11 11}The Master IDIQ contemplates potential treatment of up to approximately 50 million gallons of waste through 2041, with an aggregate procurement ceiling of approximately $4.4 billion¹¹. These amounts represent overall procurement ceilings shared among the three IDIQ contract holders and do not represent amounts awarded or committed to the Company. The Company will compete for individual task orders issued under the Master IDIQ, and, while there can be no assurance as to the number, size or timing of task orders that may be awarded to the Company, we believe that our investments have positioned us to support increasing Hanford-related activity and to compete for task orders under DOE's tank waste program.

We are advancing facility upgrades to expand our grouting capacity to support that work. Among the three Master IDIQ Subcontract holders, we are the only one with a facility located adjacent to the Hanford Site, and waste treated under the subcontract would leave Perma-Fix

Northwest as a stabilized, grouted solid shipped out of state by rail.

"Our

Services Segment continued to grow, with revenue up 46% year over year, gross margin improving to 12.2% and the segment generating operating income⁷. Our PFAS (Per- and polyfluoroalkyl) destruction business saw increased sales and receipts compared with the first half of the year⁸. Our Gen 2.0 PFAS destruction unit is expected to begin commissioning in the fourth quarter of 2026, with operations anticipated to commence during the first half of 2027. The State of Florida enacted legislation this year phasing out PFAS-containing firefighting foam, subject to specified exceptions, which we expect to support continued demand for PFAS destruction. With a growing backlog, new pricing taking effect and DFLAW volumes increasing, we believe Perma-Fix is positioned for improved results in the coming year."

Financial

Results

Revenue for the third quarter of 2026 was approximately $17.9 million, compared to $17.5 million for the same period in 2025⁴. The increase was attributable entirely to higher revenue within the Services Segment, which increased to approximately $6.3 million for the three months ended September 30, 2026, from approximately $4.4 million for the corresponding period of 2025⁵, primarily due to increased project activity, including projects awarded since the beginning of 2026. Revenue within the Treatment Segment decreased to approximately $11.6 million for the three months ended September 30, 2026, from $13.1 million for the corresponding period of 2025. The decrease was primarily attributable to lower waste volumes processed, due in part to customer-directed changes in treatment protocols that delayed until September 2026 the processing of shipments of a certain Hanford-related waste stream received beginning in the second quarter of 2026 under the DOE Hanford progra