Second Quarter 2026 Highlights
-- NuScale's exclusive global strategic partner, ENTRA1 Energy ("ENTRA1"),
continues to advance discussions with the Tennessee Valley Authority
("TVA") toward a definitive power purchase agreement for potentially the
largest nuclear power deployment program in U.S. history
-- NuScale is working with S.N. Nuclearelectrica S.A. ("Nuclearelectrica")
and RoPower Nuclear ("RoPower") to satisfy conditions attached to
Nuclearelectrica shareholders ' vote to advance the RoPower project in
Doicești, Romania, which would deploy six NuScale Power ModulesTM
("NPMs") at a former coal plant site and represents the most advanced SMR
effort in Europe
-- NuScale awarded Paragon , a leading supplier of safety-related products,
a contract to complete final design development of the Highly Integrated
Protection System ("HIPS") for the NuScale Power Module -- a critical
milestone in the Company's supply chain readiness
-- NuScale ended the second quarter with a strong liquidity position of
$1.9 billion in cash, cash equivalents and short- and long-term
investments to support near-term commercial readiness
CORVALLIS, Ore.--(BUSINESS WIRE)--August 05, 2026--
NuScale Power Corporation (NYSE: SMR) ("NuScale", "NuScale Power" or the "Company"), the industry-leading provider of proprietary and innovative advanced SMR nuclear technology, today announced results for the quarter ended June 30, 2026.
"As demand for clean, reliable power grows more urgent by the day, the question for off-takers is no longer whether to go with nuclear -- it is which technology can actually deliver, and when," said John Hopkins, NuScale President and Chief Executive Officer. "At NuScale, we have spent years doing the work that makes near-term deployment possible, and that work is now substantially complete. We hold the only U.S. Nuclear Regulatory Commission design certification in the SMR industry, our technology runs on fuel that is proven and available today, and we have built a supply chain of more than 60 specialized partners with over 30 agreements already executed. No one is better positioned to deliver carbon-free, 24/7 power on the shortest possible timeline."
Liquidity & Capital Resources
-- Ended the second quarter of 2026 with cash, cash equivalents, and
short- and long-term investments of $1.9 billion.
Financial Update
-- Revenue and cost of sales decreased by $8.0 million and $6.0 million,
respectively, during the three months ended June 30, 2026, as compared to
the same period in the prior year, primarily due to the revenue
recognized from the work associated with the Fluor Front-End Engineering
and Design ("FEED") Phase 2 engineering services in support of the
RoPower project, which was completed in late 2025, with no comparable
activity in 2026.
-- Research and development ("R&D") expenses increased $6.6 million during
the three months ended June 30, 2026, as compared to the same period in
the prior year, primarily as a result of $7.1 million higher costs
associated with the Company's increased activities to advance the
technological readiness and design maturity of our NPM components,
partially offset by $0.6 million in lower regulatory costs as we received
SDA approval in May 2025.
-- General and administrative expenses ("G&A") increased $4.4 million
during the three months ended June 30, 2026, as compared to the same
period in the prior year, primarily due to $1.2 million of higher
personnel and equity-based compensation costs due to increased headcount
and $3.9 million of higher organizational costs, partially offset by $1.0
million of lower legal fees now that the initial costs associated with
becoming a large accelerated filer have passed.
-- Other expenses increased $8.0 million during the three months ended
June 30, 2026, as compared to the same period in the prior year,
primarily due to (a) the Company's engineers and project personnel
working on fewer commercial projects than in the prior year, resulting in
the lower allocation to cost of sales described above and (b) higher
other compensation costs incurred as we have ramped up the resources
supporting supply chain readiness and the delivery of future commercial
projects.
-- Investment income increased $8.5 million during the three months ended
June 30, 2026, as compared to the same period in the prior year,
primarily as a result of the Company's stronger cash position and higher
investments in cash equivalents, short-term investments and long-term
investments.
Conference Call:
NuScale will host a conference call today at 5:00 p.m. ET. A live webcast of the call will be available by dialing +1 833-461-5787 with conference ID 732 803 137 or by visiting the Quarterly Results page of the Company's website.
A replay of the webcast will be available for 30 days.
About NuScale Power
Founded in 2007, NuScale Power Corporation (NYSE: SMR) is the industry-leading provider of proprietary and innovative advanced small modular reactor (SMR) nuclear technology, with a mission to help power the global energy transition by delivering safe, scalable, and reliable carbon-free energy. The NuScale Power Module$(TM)$, the Company's groundbreaking SMR technology, is a small, safe, pressurized water reactor that can each generate 77 megawatts of electricity (MWe) or 250 megawatts thermal (gross), and can be scaled to meet customer needs through an array of flexible configurations up to 924 MWe (12 modules) of output.
As the first and only SMR to have its designs certified by the U.S. Nuclear Regulatory Commission, NuScale is well-positioned to serve diverse customers across the world by supplying nuclear energy for electrical generation, data centers, district heating, desalination, commercial-scale hydrogen production, and other process heat applications.
To learn more, visit NuScale Power's website or follow us on LinkedIn, Facebook, Instagram, X, and YouTube.
Forward Looking Statements
This release contains forward-looking statements (including without limitation statements containing words such as "will," "believes," "expects," "anticipates," "plans" or other similar expressions). These forward-looking statements may include statements relating to our strategic and operational plans, expectations (including regarding our market positioning, our progress toward deploying our technology, the market for nuclear energy and providing energy technology for communities around the world), future growth, and the outlook of our business.
Our actual results may differ materially from what may be included in forward-looking statements as a result of a number of factors, including, among other things, the following: our ability to enter into binding contracts with customers to deliver NPMs; competition from other nuclear reactor technologies; delays in the development and manufacturing of NPMs and related technology; the possibility that we may continue to incur losses in the future and may not be able to achieve or maintain profitability; the cost of electricity generated from nuclear sources or our NPMs may not be cost competitive; the market for SMRs is not yet established and may not achieve growth as expected; our dependence on our relationships with ENTRA1 and other strategic partners; risks related to the Partnership Milestones Agreement that we entered into with ENTRA1; our ability to manage our growth effectively; our need for additional funding in the future; our partners' and potential customers' ability to secure funding; manufacturing and construction issues, including that our supply base in constrained; the politically sensitive environment we operating in and the public perception of nuclear energy; our dependence on senior management and other highly skilled personnel; our ability to obtain design approvals internationally; our customers' ability to obtain required regulatory approvals on a timely basis or at all; compliance with environmental laws and evolving government laws and regulations; the impact of changing trade policies and new or increased tariffs; risks related to cybersecurity; changes in tax laws; our ability to protect our intellectual property; our limited number of authorized shares available for issuance; the price of our Class A common stock may be volatile; additional sales of our common stock or exercise of our options could result in dilution to our stockholders; we have and may in the future be subject to short selling strategies; NuScale Power, LLC being treated as a corporation for U.S. federal income tax or state tax purposes; and requirements under the Tax Receivable Agreement. Caution must be exercised in relying on these and other forward-looking statements. Due to known and unknown risks, our results may differ materially from its expectations and projections.
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