Nuscale Power Corporation ( (SMR) ) has released its Q4 earnings. Here is a breakdown of the information Nuscale Power Corporation presented to its investors.
NuScale Power Corporation, a leader in advanced small modular reactor (SMR) nuclear technology, specializes in providing scalable, reliable, and carbon-free energy solutions. The company has achieved a significant milestone as the first SMR to receive design certification from the U.S. Nuclear Regulatory Commission.
NuScale Power recently released its financial results for the fourth quarter and full year of 2024, highlighting a strengthened cash position and ongoing strategic developments. The company reported a substantial increase in cash reserves due to warrant exercises, alongside continued progress in engineering studies for its power plant projects.
Financially, NuScale ended the year with $446.7 million in cash and investments, a significant increase from the previous quarter. Despite reporting a net loss of $180.3 million in the fourth quarter, largely due to non-cash expenses related to warrants, the company saw a notable increase in revenue to $34.2 million compared to the previous year. The reduction in operating expenses reflects NuScale’s shift from research and development to commercialization.
NuScale’s strategic advancements include ongoing dialogues with major technology and industrial companies seeking clean energy solutions. The company is also making strides in manufacturing preparedness, with its supply chain partner Doosan Enerbility actively producing materials for its power modules.
Looking ahead, NuScale Power remains focused on its commercialization efforts and is optimistic about receiving further regulatory approvals. The company is poised to meet the growing demand for clean, reliable energy solutions across various sectors, including data centers and industrial applications.