NuScale Power reported its first-quarter results after Thursday's closing bell, and the numbers didn't exactly light up the room. The small modular reactor company missed analyst estimates on both the top and bottom lines, sending shares lower in extended trading.
NuScale posted a quarterly loss of 14 cents per share, a penny worse than the 13-cent loss analysts had penciled in. Revenue was the real shocker: just $565,000, missing the Street estimate of $14.67 million by a whopping 96%. That's a big gap, even for a pre-revenue company still building out its technology.
Research and development expenses climbed $3.7 million during the quarter. The company said that was driven by $5.7 million in higher costs tied to advancing the technological readiness and design maturity of its NuScale Power Module components. That was partially offset by $1.9 million in lower regulatory costs after receiving Standard Design Approval from the NRC in May 2025.
CEO John Hopkins struck an optimistic tone in the earnings release: "The demand for reliable, carbon-free power has never been greater, and NuScale is the only SMR technology provider with a U.S. Nuclear Regulatory Commission (NRC) approved design, an established supply chain and NPM components currently in production for commercial use to meet this essential need."
Investors weren't quite as enthusiastic. NuScale Power stock was down 6.68% to $11.74 in Thursday's extended trading session.
