NuScale Power Corporation Q4 FY2025 Earnings Call

· Earnings call transcript and AI-powered summary

Period Covered: Full Year Ended December 31, 2025 (comparisons to full year 2024 and prior quarters where noted). Focus on commercialization progress for the only NRC-certified SMR technology, ENTRA1/TVA partnership, Romania project completion, and strengthened liquidity.

Key Business & Operational Highlights

  • NRC approved 77 MWe standard design ahead of schedule in 2025 (only SMR with design certification under 10 CFR Part 52). 12 modules currently in production with Doosan Enerbility, providing first-mover timing advantage.
  • ENTRA1 Energy (exclusive global partner) advanced 6 GW program with TVA (72 NuScale Power Modules across 6 plants) to serve TVA's 7-state region. Progress since September 2025 announcement includes team assembly, site evaluations, multibillion-dollar term sheet from one major financial institution, and ongoing PPA drafting.
  • Romania RoPower project: Completed Fluor Phase 2 FEED study; $63.1 million in licensing/engineering revenue recognized over 18-month period ending December 2025. Shareholders approved advancement; pre-EPC activities expected Q2 2026 (up to 15 months duration).
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Operator: Good afternoon, and welcome to NuScale's Fourth Quarter and Full Year 2025 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; Ramsey Hamady, Chief Financial Officer; and Clayton Scott, Chief Commercial 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
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