NuScale Power Reports Revenue Decline and Increased Losses in Q2 2026

NuScale Power Corporation reported its financial results for the second quarter of 2026, revealing a significant decrease in revenue and an increase in operating losses compared to the same period in the previous year. For the three months ended June 30, 2026, the company generated revenue of $75,000, down from $8.1 million in the same quarter of 2025. The decline was primarily attributed to the completion of engineering services for the Fluor FEED Phase 2 project, which had contributed significantly to revenue in the prior year. The company incurred a net loss of $50.1 million for the quarter, compared to a loss of $37.6 million in the prior year, reflecting increased research and development expenses and general administrative costs.

In the first half of 2026, NuScale's revenue totaled $640,000, a decrease of $20.8 million from $21.4 million in the first half of 2025. The company’s cost of sales also decreased, reflecting the completion of the Fluor project. Research and development expenses rose to $31.2 million, up from $20.9 million in the prior year, driven by increased activities to advance the technological readiness of its NuScale Power Module (NPM) components. General and administrative expenses increased to $51.7 million, primarily due to higher personnel costs and organizational expenses.

Operationally, NuScale continues to focus on its strategic partnership with ENTRA1, which is pivotal for the commercialization of its NPM technology. The company has made significant investments in long-lead materials and is actively pursuing international opportunities, particularly in Romania with the RoPower Nuclear project. As of June 30, 2026, NuScale reported cash and cash equivalents of $766.5 million, alongside short-term investments of $305.7 million, positioning the company to support its ongoing operations and development initiatives.

The company’s employee headcount has increased, contributing to higher operational costs, but it is also indicative of its commitment to scaling up its capabilities in preparation for future projects. NuScale's management remains optimistic about the long-term demand for small modular reactors (SMRs) as global energy needs evolve, particularly in light of increasing interest in nuclear energy as a clean power source. The company anticipates that its strong cash position will allow it to navigate the next 12 months while continuing to seek commercial contracts that will generate revenue.

Looking ahead, NuScale is focused on advancing its technology and securing binding contracts with customers for the delivery of NPMs. The company is also monitoring market conditions and regulatory developments that could impact its operations and growth trajectory. Despite the current financial challenges, NuScale's leadership believes that the demand for its innovative nuclear technology will grow, particularly as countries seek to enhance energy security and reduce carbon emissions.