Financial Data and Key Metrics Changes - Oklo reported a third-quarter operating loss of $36.3 million, including non-cash stock-based compensation of $9.1 million [43] - The loss before income taxes was $29.2 million, reflecting an operating loss adjusted for net interest income of $7.1 million [44] - The company closed the quarter with approximately $1.2 billion in cash and marketable securities, with cash burn tracking in line with expectations [14][45] Business Line Data and Key Metrics Changes - Oklo's Advanced Fuel Center represents a significant investment of up to $1.68 billion, anchoring the long-term fuel supply chain [11] - The company achieved key regulatory milestones, including the approval of the Nuclear Safety Design Agreement for the Aurora Fuel Fabrication Facility [12] - The Reactor Pilot Program awarded Oklo three projects, enhancing its position in advanced nuclear energy deployment [15][16] Market Data and Key Metrics Changes - Oklo signed new international partnerships with European companies Moltex and Nucleo to advance technology and fuel manufacturing capabilities [41][42] - The company is evaluating potential power sales with the Tennessee Valley Authority as part of its Tennessee Fuel Center initiative [13] Company Strategy and Development Direction - Oklo's mission is to deliver clean, reliable, affordable energy at a global scale, focusing on advanced nuclear power as a transformative energy solution [5] - The company employs a build, own, operate model to create recurring revenue through long-term contracts, streamlining regulatory processes [6] - Oklo's strategy includes leveraging its scalable design and proven technology to deploy assets quickly and efficiently [7][8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in Oklo's unique positioning to thrive in the evolving advanced nuclear sector, driven by federal support and growing customer interest [5][6] - The company anticipates that the new DOE authorization pathway will accelerate construction and operational timelines for its projects [17][19] - Management highlighted the importance of building partnerships and securing long-term contracts with customers to de-risk operations [59][61] Other Important Information - Oklo's Advanced Fuel Center in Tennessee is the first privately funded recycling facility of its kind in the U.S., expected to create over 800 permanent jobs [37] - The company is actively working on regulatory engagement for its Tennessee facility, which could benefit from the proposed Nuclear Refuel Act of 2025 [39] Q&A Session Summary Question: Does the INL plant shifting to the DOE pathway change the requirement to submit a COLA with the NRC? - Management confirmed that the DOE authorization process eliminates the need for a COLA, allowing for a more flexible construction timeline [51][56] Question: Are you still targeting commercial operations at INL to commence between late 2027 and early 2028? - Management reiterated the target timeline for the Aurora INL plant to commence operations in 2027-2028, with the DOE pathway enabling quicker construction activities [65][69]

Financial Data and Key Metrics Changes - Oklo reported a second quarter operating loss of $28 million, which includes a non-cash stock-based compensation expense of $11.4 million [41] - The loss before income taxes for the second quarter was $24.3 million, reflecting an operating loss adjusted for net interest income of $3.8 million [41] - Year-to-date cash used in operating activities equated to $30.7 million, with expectations to remain within the guided range of $65 million to $80 million for the full year [41][42] - The company ended the second quarter with approximately $683 million in cash and marketable securities on its balance sheet following a successful equity transaction generating $460 million in gross proceeds [43] Business Line Data and Key Metrics Changes - The company advanced its NRC engagement, completing Phase one pre-application readiness and saw its licensed operator topical report formally accepted for review [18][19] - Oklo expanded its pipeline of commercial opportunities with both the Department of Defense and Liberty Energy, indicating growth in customer engagement [18] Market Data and Key Metrics Changes - The federal government's recent executive orders and legislation are expected to accelerate the deployment of advanced nuclear technologies, which aligns with Oklo's business model [5][6] - The one big beautiful bill signed into law in July preserves robust investment and production tax credits through 2033, enhancing project economics for Oklo [10] Company Strategy and Development Direction - Oklo's strategy focuses on delivering clean, reliable, and affordable energy at a global scale through advanced nuclear technologies [14] - The company aims to build, own, and operate its powerhouses, creating recurring revenue and enabling efficient regulatory processes [15] - Oklo's competitive edge lies in its small scalable design, allowing for quick deployment and reduced costs through factory fabrication [16] Management's Comments on Operating Environment and Future Outlook - Management highlighted a wave of federal actions that are accelerating momentum behind advanced nuclear technologies, positioning Oklo to benefit significantly [5][6] - The company is focused on delivering power solutions that meet the growing demand for reliable energy, particularly in the context of AI infrastructure expansion [12] Other Important Information - Oklo's reactors are designed to run on recovered fuel, supporting a closed fuel cycle and long-term resilience [28] - The company is operationalizing its fuel strategy, which includes securing HALEU from the Department of Energy and building partnerships for long-term fuel supply [26][27] Q&A Session Summary Question: How might current law regarding DOE's title to utility spent fuel be amended to support Oklo's future recycling efforts? - Management indicated that current law does not impede working with utilities and the government to recycle material, although infrastructure challenges exist [48][49] Question: Can Oklo start recognizing revenues sooner from the deal with Liberty Energy? - Management confirmed that if early power sales mechanisms are established, it could lead to revenue recognition for the company [69] Question: Why can Oklo's reactor designs run on down-blended fuel? - Management explained that fast reactors can handle isotopes that are not conducive to use in traditional reactors, providing a significant advantage [70][73]

Financial Data and Key Metrics Changes - Oklo's first quarter operating loss was $17.9 million, including non-cash stock-based compensation of $2.3 million [35] - Loss before income taxes was $14.2 million, reflecting an operating loss adjusted for net interest income of $3.6 million [35] - Cash used in operating activities was $12.2 million, with a full-year guidance of $65 million to $80 million for total cash used in operations [35] - At the end of the quarter, cash and marketable securities totaled $260.7 million [36] Business Line Data and Key Metrics Changes - The company is advancing steadily toward commercial deployment, having completed a major milestone in preparing the INL site for the Aurora Powerhouse [13] - The customer pipeline totals over 14 gigawatts, spanning sectors like data centers and defense, indicating strong and growing demand [36] Market Data and Key Metrics Changes - The U.S. administration has made nuclear energy a strategic priority, with recent executive orders supporting nuclear energy initiatives [5][6] - The Department of Defense (DoD) is expected to take a more active role in nuclear procurement, which could accelerate reactor deployments [40] Company Strategy and Development Direction - Oklo's competitive advantage is based on a build-own-operate business model, small-scale modern design, and proven technology [8][9] - The company aims to bring its first commercial unit online in late 2027 to early 2028, focusing on delivering a commercial powerhouse rather than a demonstration plant [11] - Oklo is pursuing a comprehensive fuel strategy, including partnerships for HALEU supply and in-house fuel recycling capabilities [21][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the alignment of federal support for nuclear energy with Oklo's mission and model [6][7] - The company is optimistic about the regulatory environment, noting the NRC's increasing embrace of flexible and modern approaches [18] - Management highlighted the importance of efficient and effective licensing processes to support scalable deployment [84] Other Important Information - Oklo acquired Atomic Alchemy to expand its reach into the high-growth radioisotope market, which is expected to drive near-term revenue and long-term market leadership [25][26] - The company is formalizing new partnerships to support technology development and deployment of POWERHOUSE and radioisotope assets [13] Q&A Session Summary Question: Can you talk about the regulatory authority for nuclear power that the DoD has today? - The DoD has authority to regulate nuclear plants for their use cases and is exploring ways to streamline regulatory processes to accelerate reactor deployments [40][41] Question: Can you give us an update on other parts of the supply chain and your confidence in commencing construction? - The company is leveraging existing supply chains and is focused on fuel as the primary challenge, with plans to accelerate construction efforts [44][46] Question: When might you start taking delivery of fuel from the MOU with Centrus? - The first fuel for the initial plant is allocated from government reserves, while commercial procurement for subsequent plants is still being structured [53][55] Question: Will additional capital be needed given the larger reactor size and growth plans? - The balance sheet has adequate capital for the deployment of the INL plant, but the company will raise capital strategically if needed [64][65] Question: What does the NRC process look like for the Viper facility? - The licensing process for the Viper facility is simpler and more straightforward than for power reactors, benefiting from a two-step process [66][68]