NuScale Power Corporation reported a significant increase in revenue for the fiscal year ending December 31, 2025, generating $23.9 million compared to $4.2 million in 2024. This growth was primarily driven by higher engineering services provided under a contract with Fluor for the RoPower project in Romania, which offset a decrease in revenue from a technology licensing agreement. Despite the revenue increase, the company reported a net loss of $664.5 million, a substantial rise from the $348.4 million loss in the previous year, largely due to increased general and administrative expenses, including a milestone contribution of $507.4 million related to commercialization efforts.
In terms of operational developments, NuScale has made strides in its strategic partnerships, particularly with ENTRA1, which holds exclusive rights for the commercialization of NuScale's products. The Partnership Milestones Agreement (PMA) executed in August 2025 positions NuScale as a key supplier for future ENTRA1 Energy Projects, with anticipated contributions based on the number of NuScale Power Modules (NPMs) included in these projects. The company is also in discussions with the Tennessee Valley Authority (TVA) to develop up to six gigawatts of new nuclear power generation, which could further enhance its market presence.
NuScale's workforce has seen a reduction, with a plan announced in January 2024 to cut 154 full-time positions, representing 28% of its workforce. As of December 31, 2025, the company employed 428 individuals, a decrease from previous years, as it aligns resources with core priorities focused on advancing revenue-generating projects. The company has also made significant investments in research and development, totaling $45.5 million in 2025, as it transitions from an R&D-focused entity to a commercial operation.
Looking ahead, NuScale's management remains optimistic about the future, citing a growing demand for carbon-free energy solutions driven by global trends in decarbonization and energy security. The company anticipates that its NPM technology will play a crucial role in meeting this demand, particularly in international markets where energy needs are rising due to population growth and industrialization. However, the company acknowledges the challenges it faces, including the need for additional funding to support its commercialization efforts and the potential impact of regulatory approvals on its deployment timeline.
Overall, while NuScale Power Corporation has made notable progress in its financial and operational metrics, it continues to navigate significant challenges as it seeks to establish itself as a leader in the small modular reactor market. The company's future performance will depend on its ability to secure binding contracts, manage costs effectively, and respond to the evolving regulatory landscape in the nuclear energy sector.
About NUSCALE POWER Corp
NuScale Power develops small modular nuclear reactors (SMRs) that provide safe, scalable, and cost-effective carbon-free baseload power. Leveraging proven light water reactor technology, its innovative design features passive safety systems, modular construction, and flexibility for diverse applications. Serving utilities, governments, and industrial clients worldwide, NuScale offers equipment sales and comprehensive lifecycle services, positioning itself as a leader in clean, reliable nuclear energy solutions.
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