Core Viewpoint - NuScale Power has experienced a decline in stock price following disappointing Q3 2025 financial results and a bearish outlook from analysts, despite previous strong performance driven by renewed interest in nuclear energy in the U.S. [1][2] Financial Performance - NuScale Power reported Q3 2025 revenue of $8.2 million, missing analysts' expectations of $11.2 million, with revenue primarily linked to Fluor's study on RoPower's power plant project in Romania [4][9] - The stock price target set by Goldman Sachs was reduced from $31 to $27, indicating a potential downside of 16.8% based on the stock's closing price [5][9] Market Reaction - Following the earnings report, NuScale Power's shares fell by 14.8% as investors reacted to the disappointing results and the lowered price target from Goldman Sachs [2][6] - Despite the sell-off, it is suggested that the company's early-stage development status means that missing revenue estimates may not be as significant [6][7] Investment Considerations - Investors who were previously bullish on NuScale Power are advised that recent developments should not alter their positive outlook, although those with lower risk tolerance might consider investing in a nuclear energy ETF instead [7][9] - The Motley Fool Stock Advisor has identified ten stocks they believe are better investment opportunities than NuScale Power at this time [10]

Core Insights - NuScale Power's shares fell 14% following the release of disappointing third-quarter 2025 results, with a loss per share of $1.85, significantly worse than the previous year's loss of $0.18 and the Zacks Consensus Estimate of a loss of $0.11 [1][9] Financial Performance - The company reported revenues of $8.24 million for the quarter, a remarkable increase of 1,635% from $0.48 million in the same quarter last year, although this figure fell short of the Zacks Consensus Estimate by 25.7% [2][9] - The increase in revenue was attributed to higher fees from engineering, licensing, and pre-commercial operational services related to the RoPower project [2] - Gross margin for the third quarter decreased to 32.9% from 37.9% in the prior year [3] - Operating expenses surged 1,213.5% year over year to $541.15 million, with general and administrative expenses rising 2,950.5% to $519.22 million, while research and development expenses decreased by 9.1% to $11.05 million [3][4][9] - The operating loss for the quarter was $538.44 million, compared to a loss of $41.02 million in the same quarter last year [4][9] Balance Sheet - As of September 30, 2025, NuScale Power had cash and cash equivalents and short-term investments totaling $692.1 million, an increase from $420.7 million as of June 30, 2025 [5]

Core Insights - NuScale Power Corporation reported a quarterly loss of $1.85 per share, significantly worse than the Zacks Consensus Estimate of a loss of $0.11, representing an earnings surprise of -1,581.82% [1] - The company generated revenues of $8.24 million for the quarter ended September 2025, missing the Zacks Consensus Estimate by 25.71%, compared to revenues of $0.47 million in the same quarter last year [2] - The stock has increased by approximately 111.4% since the beginning of the year, outperforming the S&P 500's gain of 15.6% [3] Financial Performance - Over the last four quarters, NuScale Power has surpassed consensus EPS estimates only once [2] - The current consensus EPS estimate for the upcoming quarter is -$0.12 on revenues of $15.16 million, and for the current fiscal year, it is -$0.50 on revenues of $47.7 million [7] Market Outlook - The company's earnings outlook will be crucial for future stock performance, with management's commentary on the earnings call expected to influence investor sentiment [3][4] - The Zacks Industry Rank for Electronics - Power Generation is in the top 41% of over 250 Zacks industries, indicating a favorable industry outlook [8]

Financial Data and Key Metrics Changes - NuScale's overall liquidity increased to $753.8 million as of September 30, 2025, compared to $489.9 million at June 30, 2025, driven by the sale of 13.2 million Class A shares generating $475.2 million in gross proceeds [16] - Revenue for the quarter ended September 30, 2025, was $8.2 million, a significant increase from $500,000 during the same period in the prior year, primarily due to fees received for services related to the RoPower project in Florida [16] Business Line Data and Key Metrics Changes - The partnership with Inter One and TVA aims to deploy up to 6 gigawatts of new nuclear capacity using NuScale technology, marking the largest SMR deployment program in U.S. history [5][6] - The PMA with Inter One includes milestone-based payments to accelerate commercialization, with the first milestone payment of $148.5 million triggered by the TVA agreement [10][16] Market Data and Key Metrics Changes - The demand for reliable, always-on electricity is increasing, particularly in sectors like data centers, AI, advanced manufacturing, and national defense, which NuScale aims to serve with its SMR technology [14][15] - The U.S. government announced a mobilization of up to $550 billion in investments to expand energy infrastructure, with Inter One positioned to receive up to $25 billion for developing a fleet of power plants [6][7] Company Strategy and Development Direction - NuScale is focused on accelerating the commercialization of its SMR technology through strategic partnerships, particularly with Inter One, which is seen as a key player in the energy transition [8][9] - The company aims to leverage its unique position as the only NRC-approved SMR technology provider to meet growing energy demands while supporting U.S. energy independence [14][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong pipeline of potential off-takers for NuScale's technology and the favorable regulatory environment for nuclear energy [4][8] - The company anticipates the first Inter One energy plant to deliver power to TVA as early as 2030, with additional plants phased in as demand grows [7][15] Other Important Information - NuScale is working with Fluor on the RoPower project in Romania, which is expected to generate revenue and positive cash flow as it progresses towards a final investment decision in late 2026 or early 2027 [12][13] - The PMA with Inter One is designed to be a repeatable and scalable model for future projects, both in the U.S. and globally [10][11] Q&A Session Summary Question: Impact of Doosan's agreement on supply chain - Management confirmed that Doosan has the capacity to produce 20 NuScale power modules per year and is focused on NuScale modules [20][21] Question: Details on the U.S.-Japan agreement - The agreement highlights NuScale's strategic importance and support from Japan, positioning the company favorably in the energy sector [22][24] Question: Clarification on TVA agreement - Management clarified that the TVA agreement is a critical step towards a firm agreement, with ongoing efforts to finalize PPAs [28][29] Question: Fluor's commitment and monetization agreement - Management explained that the monetization agreement with Fluor reflects a natural maturation of their investment and does not indicate a loss of support [34][36] Question: Gating factors for Inter One site evaluation - Management noted that TVA has several sites with prior approvals, which aligns with their strategy to focus on tier one sites [41][42] Question: Confidence in binding agreement with TVA - Management expressed confidence in moving forward with TVA and indicated that other agreements may also be forthcoming [58][59] Question: Operational capabilities of Inter One - Management emphasized that Inter One has extensive experience in large-scale energy projects and will hire experienced EPC companies for construction [47][49] Question: Safeguards for substantial payments to Inter One - Management assured that payments made will roll into other projects if the TVA deal does not materialize, protecting their interests [112][113]

Core Viewpoint - NuScale Power Corp. reported disappointing third-quarter earnings, missing analyst expectations for both losses per share and revenue, leading to a decline in stock price [1][2]. Financial Performance - The company reported quarterly losses of $1.85 per share, which was significantly worse than the Street estimate of a loss of 15 cents, indicating a larger-than-expected financial setback [2]. - Quarterly revenue was reported at $8.24 million, falling short of the consensus estimate of $11.06 million by 25%, highlighting challenges in revenue generation [2]. Strategic Developments - NuScale's technology was selected for ENTRA1's agreement with the Tennessee Valley Authority, marking a significant milestone as the largest Small Modular Reactor (SMR) deployment program in U.S. history, which could provide future growth opportunities [3]. Stock Performance - Following the earnings report, NuScale's stock price decreased by 1.66%, trading at $31.92 in extended trading, reflecting investor reaction to the disappointing financial results [3].

Revenue and Income - Revenue for the three months ended September 30, 2025, increased by $7.8 million to $8.2 million compared to $0.5 million in the same period of 2024, primarily due to engineering services for RoPower's power plant deployment in Romania [144]. - Revenue for the nine months ended September 30, 2025, increased by $26.9 million to $29.7 million compared to $2.8 million in the same period of 2024, attributed to engineering and licensing fees [150]. - Investment income increased by $3.8 million to $5.8 million for the three months ended September 30, 2025, due to a stronger cash position and higher investments [149]. - Investment income for the nine months ended September 30, 2025, increased by $11.1 million to $16.4 million compared to $5.3 million in the same period of 2024 [157]. Expenses - Cost of sales for the three months ended September 30, 2025, increased by $5.2 million to $5.5 million compared to $0.3 million in the same period of 2024, driven by engineering services related to the same project [144]. - General and administrative expenses surged by $502.2 million to $519.2 million for the three months ended September 30, 2025, mainly due to the recognition of a $495.0 million milestone contribution [146]. - General and administrative expenses rose by $511.8 million to $565.0 million for the nine months ended September 30, 2025, primarily due to the milestone contribution and increased business development costs [152]. - Research and development expenses decreased by $1.1 million to $11.1 million for the three months ended September 30, 2025, as personnel transitioned to commercial projects [145]. Net Loss and Cash Flow - Net loss for the three months ended September 30, 2025, was $532.6 million, compared to a net loss of $45.6 million in the same period of 2024 [143]. - The company has incurred significant operating losses with an accumulated deficit of $682.0 million and negative operating cash flows [159]. - For the nine months ended September 30, 2025, net cash used in operating activities was $(255,906) thousand, compared to $(82,249) thousand in 2024 [161]. Cash and Investments - As of September 30, 2025, the company had cash and cash equivalents of $407.6 million and short-term investments of $284.2 million, with no debt [159]. - The company executed a strategy to diversify its investment portfolio, resulting in net cash used in investing activities of $(306,332) thousand for the nine months ended September 30, 2025 [163]. - Net cash provided by financing activities was $568,267 thousand for the nine months ended September 30, 2025, compared to $118,417 thousand in 2024 [161]. Commitments and Obligations - The company has commitments totaling $551,867 thousand, with significant payments due in 2025 and 2026 [172]. - A liability of $346.5 million was recognized due to the achievement of criteria for triggering payment under the PMA, related to 72 NPMs [170]. - The company entered into sales and marketing agreements in January 2025, increasing its commitment by an additional $34.8 million [168]. - The company has a potential obligation of up to $7.1 million to the USTDA based on revenue earned under technical assistance grant programs [172]. Future Outlook - The company believes it has sufficient cash and access to capital markets to meet its cash requirements for the next 12 months and beyond [160].

Key Highlights - TVA and ENTRA1 announced an agreement to develop plants with up to 6 GWe of new nuclear power generation capacity powered by NuScale's SMR technology[9, 10] - The contemplated capacity of 6 GWe represents total deployment of approximately 72 NuScale Power Modules in up to 6 ENTRA1 Energy Plants in the TVA territory[11] - NuScale's work on Fluor's Phase 2 FEED study for the RoPower Doicești power plant continued to progress and generated $7.8 million in revenues in the third quarter[9] - NuScale further strengthened its cash position through an at-the-market (ATM) program which generated $475.2 million in gross proceeds in the third quarter[9] Partnership Milestones Agreement - NuScale entered into a Partnership Milestones Agreement with ENTRA1, pursuant to which NuScale has agreed to distribute to ENTRA1 a contribution amount payable for each NuScale Power Module™ anticipated to be placed in a project or power plant[12] - 15% of the contribution is earned upon execution of a term sheet, MOU, LOI, or framework agreement[13] - 35% is earned upon execution of a binding PPA, energy off-take agreement[13] - 50% is earned upon execution of an OEM agreement for the purchase of NuScale Power Modules ("NPMs")[13] Financial Updates - Cash & Cash Equivalents, Short-Term Investments, and Long-Term Investments totaled $407.6 million, $40 million, and $284.2 million respectively as of September 30, 2025[25] - Revenue for Q3 2025 was $8.2 million[27]

Financial Results - NuScale Power Corporation announced its financial results for Q3 2025, ending September 30, 2025[4]. - The press release detailing the financial results is attached as Exhibit 99.1[7]. - The report was signed by Chief Financial Officer Robert Ramsey Hamady on November 6, 2025[10]. Agreements and Partnerships - The company entered into a definitive agreement with Fluor Corporation regarding the monetization of Fluor's investment in NuScale[5]. - The joint press release with Fluor Corporation is attached as Exhibit 99.2[7].

Group 1: Company Overview - Nvidia is a leader in semiconductor architecture and has achieved a $5 trillion market cap, attracting significant investor attention [1][2] - NuScale Power is a prominent player in the nuclear energy sector, being the only small modular reactor (SMR) company with a design approved by the U.S. Nuclear Regulatory Commission, providing a competitive edge [5][6] Group 2: Financial Performance - Nvidia generated free cash flow of $60.7 billion in fiscal 2025 and $26.9 billion in fiscal 2024, showcasing its strong cash generation capabilities [7] - In contrast, NuScale Power reported revenue of only $8.1 million in the second quarter of 2025, indicating a significant disparity in financial performance [7] Group 3: Market Position and Growth Potential - NuScale Power's current market cap is $6 billion, which would require an extraordinary growth of 83,233% to match Nvidia's scale [10] - Despite the challenges, NuScale Power may still represent a valuable growth opportunity for investors interested in nuclear energy [11]

Core Insights - NuScale Power Corp (NYSE:SMR) is experiencing a price increase of 6.6%, reaching $38.01, as investors anticipate the upcoming third-quarter report, which is set to be released after market close tomorrow. The stock has shown a remarkable year-to-date increase of 111% [1] Group 1: Stock Performance - The stock has rebounded from a short-term pullback, supported by the 126-day moving average [1] - Historically, SMR tends to outperform after earnings, with six of the last eight reports resulting in significant next-day price increases, including a notable 21.6% rise in May [5] - The average earnings swing for the stock over the past two years has been 13.9%, with analysts expecting a larger-than-usual move of 19.1% for this quarter [5] Group 2: Options Activity - There is a high level of put trading activity surrounding SMR, with a 10-day put/call volume ratio of 5.24, placing it in the 92nd percentile of annual readings [3] - The stock's Schaeffer's put/call open interest ratio (SOIR) stands at 1.46, indicating a strong bearish sentiment, also in the highest percentile of annual readings [3] - If this bearish sentiment begins to reverse, it could provide additional support for the stock [3] Group 3: Short Interest - Short interest in SMR has decreased by 17% over the last two reporting periods, yet it still represents 24.5% of the stock's total available float [4] - At the current average trading pace, it would take short sellers nearly two days to cover their positions [4]