Group 1 - Oklo's shares increased by 11.4% following positive market movements and news regarding small modular reactors (SMRs) in Europe [1][2] - The U.K. and Czech Republic partnership aims to deploy up to six SMRs manufactured by Rolls-Royce, supported by a $2.5 billion investment from the U.K. government [2] - The momentum in the nuclear industry is further validated by this partnership, benefiting SMR developers like Oklo [2] Group 2 - Oklo is collaborating with the U.S. Air Force to potentially deploy an SMR at an Air Force base in Alaska, which would enhance the base's energy independence [4] - SMRs are particularly advantageous for critical infrastructure and data centers, aligning with the needs of modern technology [5] - The successful development of a safe and operational SMR model by Oklo could lead to significant success in the market [6]

Group 1 - Oklo's shares have increased by 5.7% amid broader market gains, particularly in the S&P 500 and Nasdaq Composite [1] - The company has been conditionally selected to provide power to an Air Force base in Alaska, with the contract pending finalization after years of delays [2] - The Aurora Powerhouse, an advanced small nuclear reactor (SMR) developed by Oklo, will supply all necessary power to the remote base, ensuring its independence from the grid [3] Group 2 - President Trump has signed executive orders to expedite the permitting process for new reactors and enhance domestic uranium production, which has positively impacted nuclear stocks, including Oklo [5] - SMRs, like those developed by Oklo, can be customized for specific sites, such as military bases and AI data centers, indicating a strong demand for this technology [6] - The successful development of a safe and operational SMR by Oklo could lead to significant success in the market [6]

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]

Financial Data and Key Metrics Changes - The full year operating loss for the company was $52.8 million, which included a one-time fair market value expense of $7.8 million and $4.7 million in non-cash stock-based compensation [51] - Adjusting for non-cash amounts, the net loss attributable to common stockholders improved from $563 million to $73.6 million [52] - Cash and marketable securities at year-end were $275.3 million, primarily driven by $276 million in proceeds from the business combination [52] Business Line Data and Key Metrics Changes - The company expanded its POWERHOUSE offering to support up to 75 megawatts of power output, enhancing its ability to serve energy-intensive industries [16] - The partnership with Equinix for 500 megawatts and the agreement with Switch for 12 gigawatts highlight significant demand in the data center sector [10][11] Market Data and Key Metrics Changes - The U.S. power demand is projected to grow greater than 160% through 2030, with data centers contributing approximately 31% of this increase [7] - The customer pipeline has expanded from 700 megawatts to over 14 gigawatts, driven by major customers like Equinix, Prometheus, Switch, and Diamondback Energy [40] Company Strategy and Development Direction - The company’s strategy is built on three core pillars: a simplified business model, small scalable reactors, and advanced technology using liquid sodium coolant [8][9] - The company aims to leverage its unique licensing strategy to accelerate deployment and reduce regulatory hurdles compared to conventional nuclear approaches [25][26] Management's Comments on Operating Environment and Future Outlook - Management emphasized the growing consensus on the importance of nuclear energy for the future, supported by government policy and public endorsement [5][6] - The company is positioned to capitalize on the increasing demand for clean energy solutions, particularly in the data center and oil and gas sectors [11][12] Other Important Information - The acquisition of Atomic Alchemy marks the company's strategic expansion into the high-growth radioisotope market, projected to exceed $55 billion by 2026 [45] - The company is actively engaging with the NRC and DOE to streamline regulatory processes and ensure efficient deployment of its first commercial reactor [27][28] Q&A Session Summary Question: Was the decision to go from 50 megawatts to 75 driven by existing customers or potential customers? - The decision was largely informed by customer interest and market trends, particularly in the data center sector [57][58] Question: With a pipeline of 14 gigawatts, do potential customers feel that the company is full? - The company believes that the pipeline creates a sense of urgency among potential customers to engage and secure power agreements [62][63] Question: Does the increased powerhouse range require changes in the licensing approach? - The company indicated that the changes would have minimal effect on the licensing approach, as existing infrastructure accommodates the new range [65][66] Question: Can you describe the readiness assessment and its impact on the COLA application? - The readiness assessment is a pre-review process with the NRC aimed at ensuring an efficient review process for the COLA application [70][71] Question: What are the main drivers for the expected increase in operating expenses? - The increase in operating expenses is driven by headcount growth, procurement activities, and the integration of the Atomic Alchemy acquisition [78][80]

Financial Data and Key Metrics Changes - The company's full year operating loss was $52.8 million, which included a one-time fair market value expense of $7.8 million and $4.7 million of non-cash stock-based compensation [52][53] - Adjusted for non-cash amounts, the net loss was $40.3 million, at the low end of the forecasted range of $40 million to $50 million [52][53] - Cash and marketable securities at year-end were $275.3 million, primarily driven by $276 million in proceeds from the business combination [53] Business Line Data and Key Metrics Changes - The company expanded its POWERHOUSE offering to support up to 75 megawatts of power output, enhancing its ability to serve energy-intensive industries [17][20] - The customer pipeline has grown from 700 megawatts to over 14 gigawatts, driven by demand from major customers like Equinix, Prometheus, Switch, and Diamondback Energy [41] Market Data and Key Metrics Changes - Total U.S. power demand is projected to grow greater than 160% through 2030, with data centers contributing approximately 31% of this increase [9] - The company signed a landmark 12-gigawatt master power agreement with Switch, equivalent to about 1% of the U.S. grid capacity [12][36] Company Strategy and Development Direction - The company’s strategy is built on three core pillars: a simplified business model, small scalable reactors, and advanced technology using liquid sodium coolant [9][10] - The company aims to leverage its unique licensing strategy to accelerate deployment and reduce regulatory hurdles compared to conventional nuclear approaches [25][26] Management's Comments on Operating Environment and Future Outlook - Management emphasized the growing consensus on the necessity of nuclear energy for energy abundance and the administration's commitment to advanced nuclear technology [6][7] - The company is positioned to capitalize on the increasing demand for clean, reliable energy solutions across various sectors, including AI-driven data centers [9][19] Other Important Information - The company completed the acquisition of Atomic Alchemy, expanding into the high-growth radioisotope market, which is projected to exceed $55 billion by 2026 [44][46] - The NRC is expected to reduce licensing fees by nearly 55% for advanced reactor applicants, effective October 1, 2025, which will lower the financial burden of licensing [30] Q&A Session Summary Question: Was the decision to go from 50 megawatts to 75 driven by existing customers or potential customers? - The decision was largely based on market observations and customer interest, particularly in the data center sector, where a range of 60 to 75 megawatts aligns well with customer needs [58][60] Question: With a pipeline of 14 gigawatts, do potential customers feel that Oklo is full? - The pipeline's growth has created a sense of urgency among potential customers, leading to increased interest in collaboration rather than deterring them [63][65] Question: Does the increased powerhouse range require changes in the licensing approach? - The increase in powerhouse range is expected to have minimal effect on the licensing approach, as existing infrastructure accommodates the changes [67][69] Question: Can you describe the readiness assessment and its impact on the COLA application? - The readiness assessment is a pre-review process with the NRC that aims to streamline the review process and reduce risks associated with the COLA application [72][74] Question: What are the main drivers for the expected increase in cash used in operations? - The increase in cash used in operations is driven by headcount growth, procurement activities for the first powerhouse, and costs associated with the Atomic Alchemy acquisition [82][83]