NuScale Power Earnings Call Transcripts
Fiscal Year 2026
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Q3 revenue was $0.3 million, while liquidity reached ~$1.9 billion. First-article manufacturing with Doosan advanced commercial readiness, with spending expected to remain disciplined as customer and OEM agreements progress.
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Q2 revenue fell to $0.1 million as prior-year RoPower engineering work ended, while liquidity rose to $1.9 billion. TVA contracting remains the key catalyst, with supply-chain and engineering preparations advancing.
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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 cash 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 strong liquidity supporting future growth.
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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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Revenue surged to $13.4M in Q1 2025, driven by the RoPower project, while OpEx dropped below 2023 averages. Advanced customer negotiations, robust liquidity, and supply chain investments position the company for a pivotal year, with a firm order expected in 2025.
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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SMRs are gaining traction as data center and industrial power needs surge, with NuScale advancing commercial agreements and maintaining a strong cash position. Operating expenses and losses declined year-over-year, and international projects are progressing, notably in Romania and Ghana.
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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.