NuScale's Q2 2025 Earnings: Key Contradictions on Contracts, Supply Chain, and Regulatory Timelines

Customer contracts and timing, supply chain readiness, regulatory support and timelines, module production and supply chain strategy, and regulatory streamlining and deployment timelines are the key contradictions discussed in NuScale's latest 2025Q2 earnings call.



Regulatory Approvals and Technology Leadership:
- NuScale Power Corporation received a 77-megawatt electric uprate license from the NRC, adding to its existing 50-megawatt approval, making it the only company with two NRC-approved SMR designs.
- This achievement, after a two-month early completion, further differentiates NuScale from competitors and enhances its near-term deployability.

Revenue Growth and Project Activity:
- NuScale reported $8.1 million in revenue for Q2 2025, compared to $1 million in the same period last year, marking a significant increase.
- The revenue growth was primarily driven by fees received from the RoPower project, which includes engineering and licensing work and pre-commercial operational date services.

Supply Chain and Production Capacity:
- NuScale's manufacturing partner, Doosan, has the capacity to produce up to 20 modules per year, with current production at 12 modules, each capable of generating 924 megawatts.
- The focus on enhancing supply chain readiness to support commercial contracts is evident, with increased spending on long-lead materials expected during the second half of 2025.

Cost-Sharing Funding and Regulatory Support:
- The Inflation Reduction Act appropriated $900 million for SMR-specific cost-sharing funding, benefiting NuScale's near-term deployment potential.
- This funding, alongside executive orders supporting advanced nuclear technologies, accelerates NuScale's deployment and bolsters domestic supply chain development.