NuScale Power's Q4 Revenue Surges Amidst Commercialization Push

NuScale Power Corporation (NYSE: SMR), a pioneering provider of advanced small modular reactor (SMR) nuclear technology, reported a significant surge in revenue for the fourth quarter of 2024. The company's Q4 revenue reached $34.2 million, marking a remarkable 643% increase from the $4.6 million reported in the same period the previous year. This impressive growth can be attributed to several factors, including the company's strategic focus on commercialization, advanced dialogue with prospective customers, and progress in key projects.



NuScale's cash position has also been bolstered by the exercise of approximately 97% of the company's outstanding warrants, generating $227.7 million in cash proceeds. This infusion of capital has brought the company's total cash, cash equivalents, and short-term investments to $446.7 million by the end of the quarter. This strengthened financial position enables NuScale to pursue commercialization activities without taking on debt, further enhancing its long-term financial stability and growth prospects.



The company's transition from an R&D-focused organization to a commercialization-focused company has significantly impacted its operating expenses and overall financial performance. NuScale's operating expenses decreased by $108.6 million year-over-year, from $71.8 million in the fourth quarter of 2023 to $43.0 million in the same period of 2024. This reduction reflects the company's efforts to reduce costs and operate more efficiently as it pursues commercialization activities. Additionally, NuScale's operating loss decreased from $71.1 million in Q4 2023 to $11.9 million in Q4 2024, indicating improved operational performance.

NuScale's progress in commercialization efforts and its first-mover advantage in the SMR market have contributed to the significant surge in Q4 revenue. The company's advanced commercial dialogue with major technology and industrial companies, utilities, and national and local governments, particularly in the data center/AI sector, has likely driven this growth. Additionally, NuScale's continued progress on Fluor's Phase 2 Front-End Engineering and Design (FEED Phase 2) study for the RoPower Doicești power plant and the industry-leading manufacturing preparedness demonstrated by Doosan Enerbility's ongoing forging of long lead materials for 12 NuScale Power Modules™ have also contributed to the company's financial performance.

In conclusion, NuScale Power's Q4 revenue surge is a testament to the company's strategic focus on commercialization and its progress in key projects. The company's strengthened cash position, reduced operating expenses, and improved operational performance indicate a promising outlook for NuScale's long-term financial stability and growth prospects. As NuScale continues to advance its commercialization efforts and engage with prospective customers, investors should closely monitor the company's progress and potential opportunities in the growing SMR market.