NuScale Power Corporation Reports Revenue Surge to $13.4 Million, Narrows Net Loss in Latest Quarter

NuScale Power Corporation reported significant financial performance improvements in its latest quarterly filing for the period ending March 31, 2025. The company generated revenue of $13.4 million, a substantial increase from $1.4 million in the same period last year, primarily driven by engineering and licensing fees related to the deployment of a NuScale 6-module power plant in Romania. The gross margin also improved to $7.0 million from $644,000, reflecting the company's transition towards commercial operations. However, the company reported a net loss of $30.4 million, a decrease from a net loss of $48.1 million in the prior year, indicating a narrowing of losses as operational efficiencies are realized.

In terms of operational changes, NuScale has made strategic decisions to optimize costs, resulting in a reduction of research and development expenses to $9.1 million from $13.2 million year-over-year. This reduction was attributed to management's cost optimization measures, which included a decrease in compensation costs and professional fees. General and administrative expenses rose to $23.3 million, up from $19.4 million, largely due to increased business development costs and legal fees associated with the company's transition to a large accelerated filer status.

The company’s workforce was reduced by 28% in January 2024, resulting in a one-time charge of $3.2 million, which contributed to the decrease in other expenses to $9.9 million from $12.1 million. As of March 31, 2025, NuScale had cash and cash equivalents of $491.4 million, up from $401.6 million at the end of the previous fiscal year, bolstered by proceeds from the issuance of Class A common stock. The company raised $99.8 million through its At-the-Market (ATM) program during the quarter, reflecting strong investor interest.

NuScale's operational focus remains on the commercialization of its small modular reactor technology, with ongoing partnerships, particularly with ENTRA1, for global development. The company anticipates receiving regulatory approval for its Standard Design Approval (SDA) application by July 2025, which is crucial for advancing its projects. The company is also exploring additional customer commitments to support long-term operations, as it continues to navigate the transition from research and development to commercial viability.

Looking ahead, NuScale's management believes that its current cash resources will be sufficient to cover operational needs for the next twelve months. However, they acknowledge the necessity of securing additional funding and customer commitments to sustain long-term growth. The company remains focused on optimizing its operational structure and expanding its market presence, particularly in the context of its ongoing projects in Romania and potential future developments in other regions.