Customer Agreements and Partnerships - Oklo has built a customer pipeline of approximately 14 GW, including a landmark agreement with Switch for 12 GW of power, marking one of the largest corporate power agreements in history[10] - The company signed a Letter of Intent with Equinix for 500 MW, which includes a $25 million pre-payment, and additional agreements with Prometheus Hyperscale for 100 MW and Diamondback Energy for 50 MW[10] - The company is partnering with RPower to provide a natural gas bridge to nuclear power, ensuring immediate and long-term energy solutions for customers[20] Operational Developments - Oklo completed the acquisition of Atomic Alchemy, enabling accelerated radioisotope production, with potential revenue generation starting as early as 2026[25] - The company is on track to deliver its first commercial powerhouse by the end of 2027, having secured key U.S. Department of Energy approvals and begun site characterization efforts[40] - Oklo's advanced reactors can scale from 15 MW to 75 MW, allowing for flexible deployment to meet diverse customer power needs[15] - Oklo has designated Siemens Energy as its preferred supplier of power conversion technology, enhancing its operational capabilities[10] - Oklo's modular approach allows for incremental energy production, reducing supply chain and execution risks while enabling a build-own-operate model[15] Financial Performance - Full year cash used in operations was $38.4 million, which is below the forecasted range of $40-50 million[10] - Oklo reported a full-year loss from operations of $52.8 million for 2024, which was at the low end of the forecast range of $40-$50 million[45] - The net loss for 2024 was $73.6 million, including $27.9 million in fair market value charges on SAFE notes prior to conversion[45] - Cash used in operating activities amounted to $38.4 million, with year-end cash and marketable securities totaling $275.3 million[45] - Research and development expenses increased to $26.7 million in 2024, up from $9.8 million in 2023[48] - Total current assets rose significantly to $231.9 million in 2024, compared to $14.2 million in 2023[46] - The company completed a business combination with AltC Acquisition Corp., receiving $276 million in proceeds net of fees[44] - Oklo's total assets reached $281.7 million by the end of 2024, a substantial increase from $14.9 million in 2023[46] - The company plans to utilize its cash reserves to support the deployment of its first powerhouse and fuel recycling activities[45] - Oklo's net loss per share for 2024 was $(0.74), compared to $(0.47) in 2023[48] Licensing and Regulatory Efforts - The company is focused on streamlining licensing processes, aiming for a 6-month licensing timeline for its custom COLA[43] - The company is advancing plans for a commercial-scale fuel recycling facility, which will utilize existing used nuclear fuel reserves totaling 94,000 metric tons[30]
AltC Acquisition (ALCC) - 2024 Q4 - Annual Results