NuScale 8-K

Summary

NuScale Power’s Q3 2026 results. Revenue declined because the year-earlier quarter included Fluor’s Front-End Engineering and Design Phase 2 work for the RoPower project, completed in late 2025, with no comparable activity this year. Increased research and development spending reflected work to advance the readiness and design maturity of NuScale Power Module (NPM), its small modular reactor rated at 77 megawatts electric per module.

Developments

• Doosan Enerbility will fabricate the NPM’s upper reactor coolant system, moving NuScale’s NRC-approved design toward physical production of a foundational module component.
• NuScale deployed nuclear-specific artificial intelligence tools developed with Nuclearn and NPX across engineering and knowledge management; with MillenniTEK, it also fabricated first-of-a-kind NPM reactor safety components.
• NuScale continued supporting commercial partner ENTRA1 Energy in discussions with the Tennessee Valley Authority about a proposed U.S. nuclear power deployment program.

Results

Metric	Q3 2026	Change	9M 2026
Revenue	$281K	-97% Y/Y, +275% Q/Q	$921K-97% Y/Y
Operating income	-$64.8M	vs -$538M Y/Y, vs -$64.0M Q/Q	-$186Mvs -$617M Y/Y
Net income	-$45.7M	vs -$533M Y/Y, vs -$50.1M Q/Q	-$142Mvs -$601M Y/Y
Diluted EPS	-$0.11	vs -$1.85 Y/Y, vs -$0.13 Q/Q	-$0.37vs -$1.37 Y/Y
Cash and cash equivalents	$513M	-33% Q/Q	—
Cash and marketable securities	$1.90B	+0.0% Q/Q	—
Diluted shares	410M	+178% Y/Y, +13% Q/Q	365M+64% Y/Y

What moved the numbers

• Revenue and cost of sales decreased $8.0M and $5.4M, respectively, Y/Y, primarily because the prior-year quarter included Fluor’s RoPower engineering work.
• Research and development expense increased $7.0M Y/Y, including $6.7M of higher costs for advancing NPM component readiness and design maturity. General and administrative expense decreased $491M Y/Y.
• Investment income was $19.1M, up $13.4M Y/Y, as a stronger cash position, higher interest rates and greater investments partly offset operating losses.
• Net cash used in operating activities was $401M for 9M 2026 vs $256M in 9M 2025. Net proceeds from common-stock issuance were $984M for 9M 2026; Class A common shares outstanding rose 29% to 411M at 9/30/2026 from 318M at 12/31/2025.

Figures extracted from the filings and checked against their text; changes and verdicts computed from them.