Oklo Shares Gain on Narrower-than-Expected 3Q Loss

Dow Jones11-06 21:56

Shares of Oklo rose after the company posted a narrower loss and higher revenue than Wall Street was projecting for the third quarter.

The stock was up 10% at $21.13 in premarket trading on Friday. At Thursday's market close, shares were down 73% year to date.

The nuclear technology company posted a third-quarter loss of $41.7 million, or 22 cents a share, compared with a loss of $29.7 million, or 20 cents a share, a year earlier. Analysts polled by FactSet had expected a steeper loss of 27 cents a share.

Revenue was $1.9 million, compared with analyst estimates of $1 million.

Oklo is working toward commercializing its metal-fueled fast reactor technology with the Aurora powerhouse product line.

Aurora powerhouses are designed to operate on fresh, recycled or down-blended nuclear fuel, and the initial designs are targeting electrical outputs ranging from 15 to 75 megawatts, with the potential to expand the product line to higher-output configurations over time, the company said.

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