Core Insights - Troluce Capital Advisors LLC has sold its entire stake of 1,015,000 shares in NuScale Power Corporation, valued at $40,153,400 based on Q3 average price, and now holds no shares in its reportable portfolio [1][2] Company Overview - NuScale Power Corporation is a leading developer of modular nuclear reactor technology, focusing on scalable and flexible deployment of clean energy solutions [4] - The company utilizes its proprietary NuScale Power Module and VOYGR plant designs to meet the increasing demand for reliable, carbon-free power generation globally [4] - NuScale targets electric utilities, industrial operators, and infrastructure developers seeking scalable, carbon-free energy solutions [8] Financial Metrics - As of November 14, 2025, NuScale's stock price was $22.45, with a market capitalization of $6.7 billion and a revenue of $63.90 million for the trailing twelve months (TTM) [2] Market Dynamics - NuScale Power has experienced significant stock volatility, trading between $12.60 and $53 per share throughout the year, as investors speculate on its potential to address the power needs of AI data centers [5][9] - The company raised approximately $475 million through an at-the-market (ATM) stock offering in Q3 to support its capital needs [6] Strategic Positioning - NuScale's strategic focus on modularity and safety positions it competitively within the advanced nuclear sector, catering to utilities and industrial clients [4]

Core Insights - GE Vernova Inc. (GEV) is positioning itself as a leader in the small modular reactors (SMRs) market, responding to the increasing demand for clean power solutions, particularly from data centers and AI operators [1] - The modular design of SMRs allows for factory prefabrication and quicker on-site assembly, reducing construction delays and upfront costs, making projects more attractive for financing [2] - GEV's BWRX-300 reactor has gained global interest, with various utilities and governments assessing its potential for use, highlighting its lower licensing risk and faster deployment timelines compared to new reactor concepts [4] Regulatory and Market Developments - In May 2025, GE Vernova Hitachi Nuclear Energy (GVH) received approval to deploy the first SMR in the Western world at the Darlington nuclear site in Ontario, Canada, marking a significant advancement in nuclear innovation [3] - The company is enhancing supplier relationships and collaborating with international regulators to standardize its SMR design and streamline approval processes [5] Financial Performance and Estimates - The Zacks Consensus Estimate indicates a year-over-year EPS growth of 33.87% for 2025 and 70.94% for 2026, reflecting strong financial performance expectations [8] - GEV's stock is trading at a premium with a forward 12-month price-to-earnings ratio of 46.33X compared to the industry average of 23.94X, indicating strong market confidence [11] - Over the past six months, GEV's shares have increased by 28.5%, outperforming the industry's growth of 24.4% [13]

Core Insights - NuScale Power shares have dropped 20% following a disappointing Q3 2025 earnings report, with a loss per share of $1.85, wider than the previous year's loss of $0.18 and the Zacks Consensus Estimate of a loss of $0.11 [1][9] - The company reported revenues of $8.24 million for Q3 2025, a remarkable increase of 1213.5% from $0.48 million in the same quarter last year, driven by higher fees from engineering, licensing, and pre-commercial operational services for the RoPower project [2][9] - Despite the recent decline, NuScale Power shares have increased by 69.3% year-to-date, outperforming the Zacks Computer & Technology sector's return of 24.4% and the Zacks Electronics-Power Generation industry's growth of 66.7% [3] Financial Performance - The loss per share of $1.85 in Q3 2025 is a significant increase compared to the prior year's loss of $0.18 and is worse than the expected loss of $0.11 [1][9] - The revenue of $8.24 million in Q3 2025 represents a substantial year-over-year increase of 1213.5% [2][9] - The Zacks Consensus Estimate for the loss in 2025 is now pegged at $0.50 per share, revised downward by $0.04 over the past 30 days [16] Market Position and Prospects - NuScale Power is recognized as a leader in small modular reactor (SMR) technology, being the only SMR technology approved by the U.S. Nuclear Regulatory Commission (NRC) [7] - The company's partnerships, including a growing collaboration with ENTRA1 Energy, enhance its position in the clean energy market by providing scalable and reliable clean power options [8][20] - A significant agreement with the Tennessee Valley Authority (TVA) to deploy up to 6 gigawatts of SMR capacity marks a major milestone for the company [9][10] Competitive Landscape - NuScale Power faces competition from other companies in the nuclear energy sector, including Oklo, BWX Technologies, and GE Vernova [12] - Recent partnerships among competitors, such as GE Vernova and Samsung C&T, and BWX Technologies with Rolls-Royce SMR, indicate a competitive environment for SMR technology [13][14][15] Valuation - NuScale Power's current price-to-sales (P/S) ratio is 59.63X, significantly higher than the industry average of 30.7X and its peers, which have P/S multiples ranging from 3.82X to 5.16X [17][18] Conclusion - The increasing demand for energy, particularly from AI data centers, along with advancements in SMR technology and strategic partnerships, positions NuScale Power favorably in the clean energy sector [20] - However, the company must navigate challenges in a competitive market and address its high valuation concerns [21]

Core Viewpoint - The individual investor adopts a contrarian investment style, focusing on deep value opportunities, particularly in stocks that have recently experienced sell-offs due to non-recurrent events, while also considering insider buying as a positive signal [1] Investment Strategy - The investment portfolio is split approximately 50%-50% between shares and call options, indicating a balanced approach to risk and return [1] - The investor's timeframe for holding positions typically ranges from 3 to 24 months, suggesting a medium-term investment horizon [1] - Fundamental analysis is employed to assess the health of companies, including their leverage and financial ratios compared to sector and industry averages [1] - Technical analysis is utilized to optimize entry and exit points, with a focus on support and resistance levels on weekly charts [1] Stock Selection Criteria - Preference is given to stocks that have undergone a recent sell-off, particularly when there is insider buying at the new lower price, indicating potential recovery [1] - The investor screens through thousands of stocks, primarily in the US, but is open to owning shares in less stable markets, referred to as "banana republics" [1] - Professional background checks are conducted on insiders who purchase shares post-sell-off, adding an additional layer of due diligence [1]

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].