NuScale Power Earnings Call Transcripts
Fiscal Year 2026
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The meeting covered board introductions, voting on director elections, executive compensation, and auditor ratification—all of which passed. Management discussed the potential for positive operational cash flow in 2026–2027 and reaffirmed the value of board diversity.
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Liquidity remains strong at $1.2 billion, with revenue down year-over-year due to project timing. Key projects with TVA/ENTRA1 and RoPower are advancing, and major international investment frameworks are expected to support future growth.
Fiscal Year 2025
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NRC approval for the 77 MW SMR design and a strengthened $1.3B liquidity position highlight a year of major progress, with ENTRA1/TVA and RoPower projects advancing and new industrial applications validated. Revenue for 2025 was $31.5M, with service revenues expected to grow.
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Secured a landmark 6 GW SMR deployment agreement with TVA and ENTRA1, boosting liquidity to $753.8M and driving a 16x revenue increase year-over-year. Positioned as the sole developer in the U.S.-Japan energy framework, with robust project and financing outlook.
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Secured a second NRC approval for its 77 MW SMR, driving increased customer engagement and regulatory tailwinds. Q2 revenue rose to $8.1M, with robust liquidity and a focus on U.S. contracts by year-end, while RoPower FID shifted to late 2026.
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Maintained strong liquidity and reduced operating expenses while advancing the RoPower project and supply chain readiness. Expects NRC approval for the 77 MWe module and a firm customer order in 2025, with immediate positive cash flow anticipated upon contract signing.
Fiscal Year 2024
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Significant financial improvement in 2024 with strong cash position, reduced expenses, and progress on SMR commercialization. Manufacturing of 12 modules is underway, with growing demand from data centers and utilities. Positioned for accelerated growth in 2025.
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Q3 2024 saw improved cash reserves, reduced operating expenses, and continued net losses as NuScale advanced its NRC-certified SMR technology and global project pipeline. Strong demand from data centers and international partners, plus supportive policy trends, position the company for future growth.
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Advanced to phase II FEED for the RoPower project, with strong demand from data centers and industrials driving new opportunities. Q2 2024 saw a net loss of $74.4M on $1M revenue, with cost reductions improving operating loss. No debt and robust cash position maintained.