Investing.com -- NuScale Power Corporation (NYSE:SMR), a provider of advanced small modular reactor (SMR) nuclear technology, reported first quarter revenue that significantly exceeded analyst expectations, driven by progress on its Romanian power plant project.
The company announced revenue of $13.4 million for the quarter ended March 31, 2025, a substantial increase from $1.4 million in the same period last year and well above the analyst consensus estimate of $2.31 million. The revenue growth was primarily attributed to the Front-End Engineering and Design (FEED) Phase 2 project and Technology License Agreement for the RoPower Doicești power plant in Romania.
The company reported a narrower loss from operations of $35.3 million, compared to $44.0 million in the first quarter of 2024. This improvement was due to higher gross margin and lower operating expenses, which decreased by $2.3 million to $42.3 million.
NuScale ended the quarter with a robust liquidity position, reporting $521.4 million in cash, cash equivalents, and short-term investments. The company bolstered its cash reserves by selling 4.5 million shares through its At-The-Market program, generating $102.4 million in gross proceeds.
"In the first quarter, NuScale continued to take proactive steps to build on our leadership as the first and only SMR provider to receive NRC design approval," said John Hopkins, President and CEO of NuScale Power. "With 12 modules already in the manufacturing process, we further readied our supply chain to ensure we stay on course to achieve our 2030 delivery target."
The company remains on schedule for anticipated approval of its uprated 77 MWe design by the U.S. Nuclear Regulatory Commission by July 2025. NuScale also reported ongoing discussions with potential customers across various sectors, including data centers, utilities, and energy companies, as it aims to bring its carbon-free energy solution to market.
Shares in NuScale remained unchanged in after-hours trading following results.
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