NuScale 8-K
NegativeEarningsImpairment / charge
ENTRA1 milestone contribution drove wider losses; reduced RoPower license revenue weighed on sales.
Filed 2026-02-26 16:40 ET
- 2.02 Results of Operations
- 9.01 Financial Statements and Exhibits
Summary
FY2025 results with commercialization updates. NuScale reported lower annual revenue and larger losses, primarily reflecting reduced RoPower license revenue and a $507.4M milestone contribution under its partnership agreement with ENTRA1. ENTRA1 and TVA continue to advance a nonbinding collaboration for up to 6 GW of NuScale capacity across TVA’s seven-state service region; NuScale also completed the RoPower Phase 2 engineering study.
Key Figures
| Metric | FY2025 | FY2024 | Y/Y |
|---|---|---|---|
| Revenue | $31.5M | $37.0M | -15.0% |
| Loss from operations | $(690)M | $(139)M | n/m |
| Net loss | $(664)M | $(348)M | n/m |
| Net loss attributable to Class A common stockholders | $(356)M | $(137)M | n/m |
| Diluted EPS | $(2.17) | $(1.47) | n/m |
| Operating cash flow | $(460)M | $(109)M | n/m |
- Revenue declined mainly because less revenue was recognized under the RoPower technology license; higher Fluor FEED Phase 2 engineering services revenue partly offset the decrease as that work began winding down.
- General and administrative expense rose to $610M from $75.9M, primarily due to the $507.4M ENTRA1 milestone contribution, alongside higher strategic business development and advisory, legal and accounting costs.
- Year-end cash, cash equivalents and short- and long-term investments totaled $1.3B. NuScale sold 39.3M shares through its at-the-market program in Q4, generating $750M in gross proceeds.
Guidance
No guidance in this filing.
Investor Takeaways
- Watch whether the ENTRA1–TVA collaboration advances to binding customer contracts and deployment commitments.
- NuScale said its 2026 focus includes commercialization and readiness to manufacture its first module.
The summary is written by an AI model reading the filing.
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