Oklo Inc. (Oklo (OKLO)) reported its first-quarter earnings after the bell on Tuesday, and the numbers were a mixed bag. The nuclear energy startup posted a loss of 19 cents per share, beating the consensus estimate of a 20-cent loss. That's the kind of headline that usually gets a stock a little bump. But investors weren't in a celebrating mood — shares slipped 0.86% in after-hours trading to $73.
Digging into the details, Oklo said it used $17.9 million of cash in operations year-to-date and $359 million for investing activities. The net loss for the quarter came in at $33.07 million, while the loss from operations was $51.25 million. Those are big numbers, but the company has a hefty cushion to absorb them.
Oklo exited the quarter with about $1.6 billion in cash and cash equivalents, plus another $900 million in marketable securities. That's a lot of runway. The company plans to use that cash to fund construction of its powerhouses, fuel and radioisotope businesses, and general operations. Management said it believes the existing cash, equivalents, and marketable debt securities will be enough to keep the lights on for the next year.
On the construction front, Oklo broke ground on its first Aurora powerhouse back in September. The company is still targeting 2028 for the deployment of its first reactor. That's a long way off, but nuclear projects don't happen overnight.
Executives will discuss the quarter in more detail on an earnings call with investors and analysts at 5 p.m. ET. For now, the market seems to be taking a wait-and-see approach.
