NuScale Power (SMR) shares fell 7.5% in extended trading Thursday after the small modular reactor developer reported a wider quarterly loss and weaker revenue than analysts expected.
The nuclear technology company posted a third-quarter loss of $273.3 million, or $1.85 a share, compared with a loss of $17.5 million, or $0.18 a share, a year earlier. Analysts had projected an adjusted loss of about $0.14 a share.
Revenue rose sharply from a year ago to $8.2 million, up from $0.5 million in the third quarter of 2024, but still missed Wall Street’s estimate of $11.17 million.
NuScale (SMR) said revenue growth was driven by engineering services tied to its work on the RoPower Doicești nuclear project in Romania, where it is advancing the deployment of six small modular reactors. The company also highlighted a milestone partnership between its global strategic partner ENTRA1 Energy and the Tennessee Valley Authority to deploy up to six gigawatts of SMR capacity, the largest such initiative announced in the United States.
Earnings, before interest, taxes, depreciation and amortization (EBITDA) were negative, reflecting higher operating costs associated with commercialization and a one-time accounting impact. General and administrative expenses surged to $519 million, driven primarily by a $495 million milestone contribution under NuScale’s partnership agreement with ENTRA1 Energy.
Despite the widened loss, the company reported a stronger balance sheet, ending the quarter with $753.8 million in cash, cash equivalents and investments, bolstered by proceeds from the sale of 13.2 million shares through an at-the-market offering that raised $475 million.
NuScale (SMR) said its liquidity position supports continued progress toward global deployment of its NuScale Power Module, the first and only U.S. Nuclear Regulatory Commission-certified small modular reactor. The company said its technology is designed to provide scalable, carbon-free energy for data centers, industrial operations and electric utilities.