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Dec 31, 2024
NuScale Power Q4 2024 Earnings Report
NuScale reported strong revenue growth but a widened net loss in Q4 2024.
Key Takeaways
NuScale Power saw a significant revenue increase to $34.2 million in Q4 2024, up from $4.6 million in the same period last year. However, the company reported a net loss of $180.3 million due to a substantial non-cash expense of $170.0 million related to changes in the fair value of warrants. Operating expenses decreased year-over-year as the company transitioned from an R&D-focused entity to commercialization.
Revenue surged to $34.2 million, a sharp increase from $4.6 million in Q4 2023.
Net loss widened to $180.3 million, impacted by a $170.0 million non-cash expense.
Operating expenses decreased to $43.0 million, reflecting cost optimization efforts.
Cash and short-term investments increased to $446.7 million, strengthening liquidity.
Forward Guidance
NuScale remains on track for mid-2025 Standard Design Approval while advancing commercial discussions with prospective customers.
Positive Outlook
- Standard Design Approval application remains on track for mid-2025 approval.
- Strong business development activity with AI and data center customers.
- Ongoing progress in the supply chain with Doosan Enerbility forging long lead materials.
- Strengthened cash position with $227.7 million from warrant exercises.
- Continued transition from R&D to commercialization with cost optimizations.
Challenges Ahead
- Significant net loss due to non-cash warrant-related expenses.
- Limited revenue growth beyond Q4 figures despite overall yearly improvement.
- Uncertainty in project execution timelines for commercial deployment.
- Potential regulatory and approval risks for Standard Design Approval.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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