NuScale Power Corporation (NYSE: SMR), established in 2007, is a provider of advanced small modular reactor (SMR) nuclear technology. The company is recognized for being the sole SMR provider to receive U.S. Nuclear Regulatory Commission (NRC) design approval, positioning itself as a leader in the nuclear energy sector.

NuScale is currently experiencing a substantial rise in its financial performance. In the first quarter of 2025, the company reported revenue of $13.4 million, a notable increase from $1.4 million during the same quarter in 2024. This surge is attributed to fees derived from engineering and licensing activities associated with the ongoing RoPower project.

Operating expenses for the first quarter fell to $42.3 million from $44.6 million in the prior year. This decrease demonstrates a commitment to cost management, particularly as NuScale’s operating expenses averaged $69.9 million per quarter in 2023, suggesting a significant improvement in operational efficiency.

Despite a loss from operations of $35.3 million for Q1 2025—down from $44.0 million in Q1 2024—NuScale’s overall liquidity improved during this period. Cash and cash equivalents, along with short-term investments, rose to $521.4 million, bolstered by a successful sale of 4.5 million shares generating $102.4 million in gross proceeds.

The standard design approval application for an upgraded power output per module of 77 megawatts electric continues to progress on schedule, with anticipated NRC approval by July 2025. Additionally, NuScale is deepening customer engagement in preparation for its 2030 delivery target and remains confident in securing a firm customer order by the end of 2025.

The supply chain has seen proactive enhancements, reflecting NuScale’s steps towards commercial deployment. The company is currently engaged in advanced discussions with various prospective customers, including hyperscalers and industrial stakeholders. Significant interest has been noted in potential applications for clean, reliable energy across multiple sectors.

In summary, NuScale posted a significant revenue increase, a decreased operating loss, and improved cash reserves in Q1 2025, indicating a favorable financial position and solid momentum towards its commercialization goals.