NuScale Power Corporation Q2 FY2026 Earnings Call

· Earnings call transcript and AI-powered summary

Overview: NuScale Power (SMR) emphasized commercial readiness for SMR deployment amid accelerating demand for carbon-free power from hyperscalers, utilities, and industrials. Key differentiators highlighted: sole SMR with NRC design certification, conventional low-enriched uranium fuel (vs. HALEU supply risks for competitors), mature engineering/supply chain, and >60 suppliers with agreements in place for over half. Lessons from Vogtle AP1000 delays (incomplete design at construction start) were cited as motivation for NuScale's approach.

Financial Highlights

  • Revenue: $0.1 million in Q2 2026, down sharply from $8.1 million in Q2 2025. Decline due to completion of Fluor front-end engineering design (FEED) Phase 2 work for RoPower project in late 2025; no comparable activity this quarter.
  • Liquidity: Approximately $1.9 billion in cash, cash equivalents, and investments at June 30, 2026, up $900 million from March 31, 2026. Reflects proactive treasury strategy for long-term planning and commercial deployment; shift from start-up burn rate metrics to capital allocation focus. Investments increased to ~$800 million due to reclassification into longer-term high-grade instruments.
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Operator : Good afternoon, and welcome to NuScale Power's Second Quarter 2026 Earnings Conference Call. Today's call is being recorded. A replay will be available on NuScale's Investor Relations website for 30 days. At this time, I would like to turn the call over to Ramsey Hamady, Chief Financial Officer. Please go ahead. Robert Hamady : Thank you, operator. Joining me today is John Hopkins, President and Chief Executive Officer of NuScale. 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 to our Investor Relations website. As reflected in the safe harbor statement 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 ending December 31, 2025, and to our subsequent SEC filings. I will now turn the call over to John Hopkins. John Hopkins : Thank you, Ramsey. I want to start with a simple observation about where the market stands now. Demand for reliable carbon-free power is not building slowly. It is accelerating. Every major hyperscaler, every large industr
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