NuScale Power Corporation Q1 FY2026 Earnings Call

· Earnings call transcript and AI-powered summary

Overview: NuScale emphasized its leadership in small modular reactors (SMRs) as the only company with full U.S. NRC Standard Design Approval (SDA) for both 50 MW and 77 MW modules under Part 52. The company highlighted regulatory, fuel, manufacturing, and safety advantages amid surging demand for reliable baseload power, particularly for data centers and industrial uses. Focus remained on advancing the ENTRA1/TVA PPA (up to 6 GW) and RoPower Romania project while strengthening supply chain readiness.

Financial Highlights

  • Revenue: $0.6 million in Q1 2026, down sharply from $13.4 million in Q1 2025. The decrease resulted from completion of the RoPower technology licensing agreement and Fluor Phase 2 engineering services (both recognized in Q1 2025).
  • Liquidity: Approximately $1 billion in cash and capital resources as of March 31, 2026, increasing to over $1.2 billion by early May 2026. This provides runway for supply chain and commercialization efforts.
  • Capitalization: Issued 3.2 million Class A shares via ATM program, generating $37.9 million gross proceeds. Fluor completed sale of its remaining NuScale shares (4.3x return on original $570 million investment), removing overhang.
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Operator: Good afternoon, and welcome to NuScale's First Quarter 2026 Earnings Results Conference Call. Today's call is being recorded. A replay of today's conference call will be available and accessible on NuScale's Investor Relations website. The web replay will be available for 30 days following the earnings call. At this time, for opening remarks, I would like to turn the call over to Rodney McMahan, Senior Director of Investor Relations. Please go ahead. Rodney McMahan: Thank you, operator. With us today are John Hopkins, NuScale President and Chief Executive Officer; and Ramsey Hamady, Chief Financial Officer. We will begin by providing an update on our business followed by a discussion of our financial results. We will then open the phone lines for questions. This afternoon, we posted supplemental slides on our Investor Relations website. As reflected in the safe harbor statements on Slide 2, the information set forth in the presentation and discussed during the course of our remarks and the subsequent Q&A session includes forward-looking statements, which reflect our current views of existing trends and are subject to a variety of risks and uncertainties. For a detailed discussion of our risk factors that could contribute to differences in our expectations, please refer to our Form 10-K for the year ended December 31, 2025, and our subsequent SEC filings. I'll now turn the call over to John Hopkins. John Hopkins: Thank you, Rodney, and good afternoon, everyone. We ar
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