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Mar 31, 2025
NuScale Power Q1 2025 Earnings Report
NuScale Power reported a net loss and a significant year-over-year revenue increase in Q1 2025.
Key Takeaways
NuScale Power's revenue surged in Q1 2025, driven by activity related to the RoPower Doicești project, while operating losses narrowed due to reduced R&D expenses.
Revenue increased to $13.4M, up from $1.4M in Q1 2024, driven by FEED Phase 2 and a licensing agreement.
Net loss decreased to $35.3M from $44.0M YoY due to improved gross margin and lower operating expenses.
Cash balance stood strong at $521.4M following successful ATM share sales.
12 SMR modules are currently in manufacturing, targeting a 2030 delivery.
Forward Guidance
NuScale is focused on commercialization readiness and maintaining momentum toward its 2030 deployment target.
Positive Outlook
- Continued progress on FEED Phase 2 for the RoPower Doicești plant.
- Standard Design Approval for uprated module remains on track for July 2025.
- 12 modules are in manufacturing with enhanced supply chain readiness.
- Improved liquidity supports future commercialization efforts.
- Ongoing advanced discussions with global hyperscalers, utilities, and government clients.
Challenges Ahead
- Operating loss continues despite revenue improvement.
- High dependency on future regulatory approvals and customer commitments.
- Transition from R&D to commercialization incurs elevated general and administrative costs.
- Uncertainty around timing and execution of customer agreements.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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