Nuscale Power Corporation ( (SMR) ) has released its Q1 earnings. Here is a breakdown of the information Nuscale Power Corporation presented to its investors.
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NuScale Power Corporation is a leading provider of advanced small modular reactor (SMR) nuclear technology, focusing on delivering scalable and reliable carbon-free energy solutions globally. The company is recognized for its innovative NuScale Power Module™, which has received design certification from the U.S. Nuclear Regulatory Commission.
In its first quarter of 2025, NuScale Power reported significant progress in its strategic initiatives, including the advancement of the Fluor’s Phase 2 Front-End Engineering and Design study for the RoPower Doicești power plant. The company is on track with its Standard Design Approval application for an uprated 77 MWe design, expected to be approved by July 2025.
Key financial highlights for the quarter include a substantial increase in revenue to $13.4 million, driven by the FEED Phase 2 project and the Technology License Agreement for the RoPower Doicești power plant. The company also improved its cash balance, ending the quarter with $521.4 million in cash, cash equivalents, and short-term investments. Additionally, NuScale successfully raised $102.4 million through its At-The-Market program.
Despite reporting a loss from operations of $35.3 million, this marks an improvement from the previous year, attributed to a higher gross margin and reduced operating expenses. The company continues to focus on transitioning from research and development to commercialization, with 12 modules already in the manufacturing process.
Looking ahead, NuScale Power remains optimistic about its future, with plans to accelerate manufacturing and enhance supply chain readiness for the commercial deployment of its first NuScale Power Module™ by 2030. The company is engaged in advanced discussions with potential customers worldwide, aiming to bring reliable, carbon-free energy to market.