Core Viewpoint - Oklo reported significant financial losses in Q3, with an EPS loss of $0.20 and a net loss of $29.72 million, exceeding analyst expectations and last year's figures, despite progress in regulatory approvals for its fuel manufacturing facility [1][3][7]. Financial Performance - In Q3, Oklo's operating loss reached $36.3 million, driven by high salaries, equity incentives, and professional fees related to capital market activities [7]. - Research and development expenses for Q3 were $14.95 million, which was nearly 55% higher than analyst expectations of $9.62 million [7]. - As of the end of Q3, Oklo had $410 million in cash and cash equivalents, along with $773.5 million in marketable securities [7]. Regulatory and Project Developments - The U.S. Department of Energy approved Oklo's nuclear safety design for its fuel manufacturing facility, a crucial step for the construction of the Aurora-INL commercial-scale reactor [6][10]. - Oklo is under pressure to meet a tight timeline for the Department of Energy's pilot project, which requires the completion of at least three test reactors by July 2026 [11]. Market Reaction and Valuation Concerns - Following the earnings report, Oklo's stock price fell over 3% in after-hours trading, reflecting market concerns about its financial performance despite a year-to-date stock increase of 391% [3][8]. - The company faces skepticism from Wall Street regarding its high valuation and the feasibility of its commercialization timeline, especially as it has yet to secure regulatory approval for its first nuclear power plant [8][11].