NuScale(US:SMR)2025-08-07 21:11Revenue 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]