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Sep 30, 2022
NuScale Power Q3 2022 Earnings Report
NuScale Power reported increased revenue and a higher net loss compared to the same period last year.
Key Takeaways
NuScale Power reported revenue of $3.2 million and a net loss of $49.6 million for the third quarter of 2022. The company highlighted continued progress on strategic objectives, including securing a second committed customer and advancing supply chain readiness. They also have a strong balance sheet with $268.6 million in cash and equivalents and $50 million in short-term investments.
Global support for nuclear energy drives a robust pipeline of prospective customers.
NRC approval of Emergency Planning Zone methodology expands siting options.
Progress continues toward securing the next committed customer and preparing the supply chain.
The company has a strong balance sheet with significant cash and no debt.
NuScale Power
NuScale Power
Forward Guidance
NuScale Power is focused on continuing to make progress toward securing a second committed customer by year-end and completing the Standard Plant Design and submitting the Standard Design Approval Application to the NRC for the VOYGR™-6 SMR power plant by year end.
Positive Outlook
- Continue to make progress toward securing second committed customer by year-end.
- Signed the first Task Order and a Statement of Commencement with Poland’s KGHM to begin work for the deployment of the first VOYGRTM SMR power plant in Poland.
- Long-lead material specifications for the upper reactor pressure vessel were issued in May, and the design for the reactor building, one of the major structures of the VOYGRTM SMR power plant, was completed in July.
- On track to complete Standard Plant Design and submit the Standard Design Approval Application to the NRC for the VOYGR™-6 SMR power plant by year end.
- NRC validated NuScale’s Emergency Planning Zone (EPZ) sizing methodology in October.