Core Insights - NuScale Power shares have increased by 7.2% following the release of its second-quarter 2025 results, driven by strong revenue growth and early NRC approval for its 77 MWe SMR design [1][3] - The company reported a loss per share of 13 cents, an improvement from the 31 cents loss in the same quarter last year, although it missed the Zacks Consensus Estimate by 8.33% [1][9] - Revenues for the quarter reached $8.1 billion, a significant increase of 733% from $967 million in the prior-year quarter, but also fell short of the Zacks Consensus Estimate by 11.15% [2] Revenue and Growth - The year-over-year revenue increase was primarily attributed to higher fees from engineering, licensing, and pre-commercial operational services related to the RoPower project [2][9] - For the third quarter of 2025, the Zacks Consensus Estimate for loss is projected at 11 cents per share, unchanged over the past 30 days, with expected revenues of $11.10 million, indicating a year-over-year increase of 2,260.64% [7] Operating Performance - The gross margin for the second quarter of 2025 improved to 22.1% from 12.1% in the same quarter of 2024 [4] - Operating expenses rose by 6.8% year over year to $44.86 million, while research and development expenses decreased by 2.7% to $11.8 million [4] - The company reported a loss from operations of $43.08 million, slightly higher than the $41.8 million loss in the prior-year quarter [5] Balance Sheet - As of June 30, 2025, NuScale Power had cash and cash equivalents and short-term investments totaling $420.7 million, down from $521.4 million as of March 31, 2025 [6] Market Performance - Year to date, NuScale Power shares have appreciated by 119.5%, significantly outperforming the Zacks Computer & Technology sector's return of 13.8% [3]

Core Viewpoint - NuScale Power is positioned for significant growth due to its unique market position, accelerated operational timeline, and favorable market dynamics [1][3]. Group 1: Market Position and Timeline - NuScale Power is the only company with U.S. Nuclear Regulatory Commission design approval and is on track to deploy its first commercial reactors within a few years [1][7]. - The timeline for commercial operations has been accelerated, with the expected start of commercial revenue moving up to as early as 2027, compared to previous estimates of late 2028 or 2029 [8]. Group 2: Market Dynamics and Volume - The market for NuScale Power has shown elevated volume, with a 30-day moving average nearing 14 million shares daily, indicating a strengthening market [4]. - The MACD momentum indicator reached record levels, suggesting a high probability of retesting stock price highs, which may create a buying opportunity [5]. Group 3: Financial Position and Institutional Activity - The company has increased its share count and debt but is well-capitalized for 2025, with a sufficient cash position to support operations until commercial launch [9]. - Institutional ownership is robust, with nearly 80% of the stock held by institutions, which have been net buyers throughout the year [10]. Group 4: Analyst Ratings and Price Forecast - The consensus rating for NuScale Power has shifted from Buy to Hold, but increased analyst coverage has firmed long-term outlooks, with no Sell ratings currently [12][13]. - The 12-month stock price forecast averages $33.00, indicating a potential downside of 16.43% from the current price, with a high forecast of $46.00 [12].

Core Viewpoint - NuScale Power's second-quarter earnings report disappointed investors, leading to a significant drop in stock price, indicating that the company remains a speculative long-term investment prospect [1][6]. Financial Performance - Analysts had forecasted NuScale to generate approximately $11.7 million in revenue, but the actual revenue reported was only $8.1 million, resulting in a loss of $0.13 per share [1][3]. - The company has not yet built any reactors, and thus, earnings were not expected; however, revenue was weaker than anticipated [3]. Cash Management - NuScale has consumed $56.1 million in cash during the first half of 2025, which is less than the cash burned in the same period of 2024, suggesting a potential improvement in cash management [4]. - The company ended the quarter with $489.9 million in cash, cash equivalents, and investments, which is sufficient to sustain operations for nearly five more years at the current cash-burn rate [4]. Market Reactions - Investors are selling NuScale stock due to the absence of significant new announcements in the earnings report and concerns regarding Fluor potentially flooding the market with shares after converting 15 million Class B shares into Class A shares [5]. - The overall sentiment remains that the company's success will depend on its ability to develop and market small modular reactors in the future, making the recent earnings report less impactful [6].

Core Insights - NuScale Power reported Q2 2025 results with a revenue of $8.1 million, missing analyst expectations by approximately 30.5% compared to the consensus of $11.65 million, but showing a significant year-over-year growth of over 700% from $1.0 million in Q2 2024 [1][2][5] - The company achieved a key regulatory milestone by receiving early approval for its 77-megawatt design from the U.S. Nuclear Regulatory Commission, positioning it uniquely in the market [1][7] - Despite the revenue growth, the company continues to face financial losses, with costs rising due to the shift towards commercialization and ongoing pre-commercial operating expenses [1][6][12] Financial Performance - Revenue for Q2 2025 was $8.1 million, a 710% increase year-over-year from $1.0 million in Q2 2024, but a 39.6% decrease from the previous quarter's $13.4 million [2][5] - Cost of sales increased to $6.3 million from $0.9 million a year ago, while general and administrative expenses rose to $22.5 million from $16.8 million, reflecting expanded business development activities [2][6] - The company ended the quarter with $489.9 million in cash, cash equivalents, and investments, providing a runway for two or more years at current expenditure levels [1][11] Business Model and Strategy - NuScale focuses on building small modular reactors (SMRs) that can be deployed flexibly, with its flagship product capable of delivering 77 MWe per unit [3][9] - The company aims to commercialize its technology for global, carbon-free baseload power, with key success factors including regulatory approvals and strategic partnerships [4][10] - Ongoing negotiations with about ten advanced customers in the U.S. and abroad indicate potential for future sales, particularly related to the RoPower project in Romania [8][10] Regulatory and Market Position - The early receipt of Standard Design Approval for the 77 MWe SMR design gives NuScale a competitive edge as the only SMR provider with NRC-certified technology [7] - The company is actively working on the RoPower project, which remains a primary source of near-term contracted revenue, with key engineering deliverables expected later in the year [8][10] - Management emphasizes the importance of converting customer interest into binding module orders as central to future growth [4][12]

Financial Data and Key Metrics Changes - NuScale reported revenue of $8.1 million for Q2 2025, a significant increase from $1 million in the same period last year, primarily driven by engineering and licensing fees related to the Row Power project [14] - Total liquidity and capital resources stood at $489.9 million as of June 30, 2025, reflecting a decline of $31.5 million from the previous quarter but an increase of $359 million year-over-year [13] Business Line Data and Key Metrics Changes - The increase in revenue was mainly attributed to fees from engineering and licensing work, as well as pre-commercial operational services for the Row Power project [14] - Operating expenses for Q2 2025 were $44.9 million, slightly up from $42 million in the same quarter last year, indicating a disciplined approach to cash management [14] Market Data and Key Metrics Changes - NuScale's SMR technology is gaining traction both domestically and internationally, with ongoing projects in Romania and interest from various sectors including advanced data centers and hydrogen production [10][54] - The company is positioned as the only SMR technology approved by the U.S. Nuclear Regulatory Commission, which enhances its competitive edge in the market [5][9] Company Strategy and Development Direction - NuScale aims to capitalize on the growing demand for clean baseload power, particularly for advanced data centers and industrial applications [7] - The partnership with IntraOne is crucial for project development, financing, and operation, allowing NuScale to focus on technology provision while IntraOne handles project execution [8][70] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding regulatory support for nuclear power, driven by recent executive orders aimed at deploying advanced nuclear technologies [9][48] - The company anticipates increased operating expenses in the latter half of 2025 as it prepares for long lead material purchases to enhance manufacturing readiness [14][16] Other Important Information - NuScale has opened two additional energy exploration centers, bringing the total to 11, aimed at preparing the next generation of nuclear talent [11] - The company is actively engaged in discussions with various potential customers, including the U.S. Government and hyperscalers, to secure contracts for its power modules [63][64] Q&A Session Summary Question: Follow-up on operating expense increase - Management confirmed an expected increase in operating expenses for Q3 and Q4, aligning with efforts to develop 12 modules and enhance supply chain readiness [16][17] Question: Impact of Fleur's stock conversion on business outlook - Management clarified that Fleur's actions regarding stock conversion do not alter NuScale's go-to-market strategy, which remains well-defined and consistent [20][22] Question: Production capacity of Doosan - Doosan can manufacture up to 20 modules per year, and management emphasized the importance of ongoing engagement with suppliers to meet production needs [28] Question: Response to NRC approval and customer engagement - Management noted an increase in customer discussions following the NRC approval, which has opened new opportunities for potential contracts [30][32] Question: Update on Row Power project timeline - The final investment decision for the Row Power project is now expected in mid to late 2026, with ongoing engineering support from NuScale [114][115]

Revenue and Growth - Revenue for the three months ended June 30, 2025, was $8,054,000, a significant increase from $967,000 in the same period of 2024, representing a growth of 731%[122] - Gross margin for the six months ended June 30, 2025, was $8,783,000, compared to $761,000 for the same period in 2024, indicating a substantial improvement[122] Expenses - Research and development expenses decreased to $20,933,000 for the six months ended June 30, 2025, down from $25,287,000 in 2024, reflecting cost optimization measures[130] - General and administrative expenses increased to $45,787,000 for the six months ended June 30, 2025, compared to $36,186,000 in 2024, driven by higher strategic business development costs[131] Net Loss and Financial Position - The net loss for the six months ended June 30, 2025, was $68,004,000, a decrease from $122,518,000 in the same period of 2024, showing a reduction in losses[122] - Cash and cash equivalents as of June 30, 2025, were $297.7 million, with short-term investments of $123.1 million and no debt[137] - The company has an accumulated deficit of $408.7 million as of June 30, 2025, indicating ongoing financial challenges[137] Funding and Commitments - The company issued and sold 4,548,127 shares of Class A common stock for gross proceeds of $102.4 million during the six months ended June 30, 2025[136] - The company entered into a purchase commitment for additional long-term commitments totaling $34.8 million to support the development of future NuScale Power Modules[146] - The company expects to have sufficient funds to cover R&D activities and operating cash needs for the next twelve months, but may require additional funds as it transitions to commercialization[139] Future Payments and Commitments - Total payments due by year amount to $194,479,000, with $86,065,000 due in 2026 and $85,928,000 in 2027[148] - Materials purchase commitments for LLM total $99,514,000, with $54,476,000 due in 2025[148] - Services commitments total $25,833,000, with $10,729,000 due in 2026[148] - Sales and marketing agreements total $52,200,000, with $34,800,000 due in 2027[148] - NuScale may owe up to $7.7 million to the USTDA based on revenue earned under technical assistance grant programs[149] Market Risk - There have been no material changes in the company's market risk disclosures from the previous annual report[150]

NuScale Power Second Quarter 2025 Earnings Presentation August 2025 NuScale Nonproprietary | Copyright © 2025 NuScale Power, LLC. | Page 1 Forward-Looking Statements This Presentation contains forward-looking statements (including without limitation statements containing terms such as "will," "believes," "expects," "anticipates," "plans" or other similar expressions). These forward-looking statements include statements relating to strategic and operational plans and expectations of NuScale Power Corporation ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________ FORM 8-K __________________________________ CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): August 7, 2025 NuScale Power Corporation (Exact name of registrant as specified in its charter) (State or other jurisdiction Delaware 001-39736 98-1588588 (Commission File Number) (I.R.S. Employer Identification No.) 1100 NE ...

Core Viewpoint - NuScale Power is set to report its second-quarter 2025 results, with expectations of significant revenue growth and a widening loss per share compared to the previous year [1][3]. Financial Performance - The Zacks Consensus Estimate for second-quarter revenues is $9.07 million, reflecting an 834.54% increase from the same quarter last year [1]. - The estimated loss for the second quarter is 12 cents per share, which has widened by a penny over the past month, indicating a year-over-year increase of 61.29% [1]. Market Position and Demand - NuScale Power's performance is likely to benefit from strong electricity demand driven by AI-powered data centers and the global shift towards clean energy solutions [3]. - The company is focusing on strategic initiatives to align resources for commercialization and securing revenue-generating contracts [3]. Technological Advancements - Significant progress has been made in the manufacturing and commercialization of Small Modular Reactor (SMR) technology, with key partnerships established with Doosan Interability and ENTRA1 Energy [4]. - The collaboration with ENTRA1 Energy is designed to mitigate risks and align with customer requirements, which are crucial for the success of SMR deployment [5]. Stock Performance - NuScale Power shares have increased by 142% year-to-date, outperforming the Zacks Computer & Technology sector's return of 9.2% and the Zacks Electronics-Power Generation industry's rise of 140.1% [6]. - The company's shares have also outperformed its closest peer, BWX Technologies, which has returned 28.8% in the same period [6]. Industry Trends - The demand for energy is expected to rise significantly, particularly from data centers, which are projected to triple their energy use over the next three years, accounting for 12% of U.S. electricity consumption by 2028 [15]. - Major technology companies like Meta Platforms, Microsoft, Alphabet, and Oracle are increasingly committing to nuclear energy, including SMR technology, to meet sustainability goals [16][17]. Competitive Landscape - Despite advancements, NuScale Power faces stiff competition from companies like Oklo and BWX Technologies in the SMR sector [18]. - Oklo has recently signed a memorandum of understanding with Korea Hydro & Nuclear Power to advance its nuclear technology, with its shares surging 260% year-to-date [19]. Conclusion - NuScale Power's advancements in SMR technology and partnerships position it as a key player in sustainable energy, but challenges remain in a competitive market and concerns over valuation persist [20][21].

Core Viewpoint - The nuclear power sector experienced a significant increase in stock prices, driven by positive earnings guidance from BWX Technologies for the fiscal year 2025 [1] Company Summaries - BWX Technologies (BWXT.US) saw its stock rise over 16% after raising its earnings guidance for the fiscal year 2025 [1] - Oklo Inc (OKLO.US) experienced a stock increase of over 8.5% [1] - NuScale Power (SMR.US) had a stock price increase of over 3.6% [1] - Duke Energy (DUK.US) saw its stock rise by over 2% [1]