NuScale Power releases financial results for the fourth quarter and full year of 2025.

NuScale Power Corporation (NYSE: SMR) has recently released its results for the fourth quarter and full year of 2025, marking a significant year for the company and the small modular reactor (SMR) industry as a whole. NuScale President and CEO John Hopkins highlighted the company’s achievements, emphasizing their role as the industry’s pioneer in SMR technology.

In 2025, NuScale made substantial strides towards the commercialization of its SMR technology. The company solidified its position by securing a nonbinding collaborative agreement with global partner ENTRA1 and the Tennessee Valley Authority (TVA) to deploy up to 6 gigawatts of NuScale SMR capacity across TVA’s service region spanning seven states. Additionally, NuScale became the first and only SMR technology to receive design approval from the U.S. Nuclear Regulatory Commission, demonstrating its position as a leader in advanced nuclear technology.

Hopkins also highlighted the results of a study showing that NuScale Power technology can provide reliable and profitable power for chemical plants, opening up a new avenue for industrial applications of SMR technology. Looking ahead to 2026, NuScale’s primary focus will be on the commercialization of its SMR technology and preparing for the manufacturing of the first NuScale Power Module (NPM).

Financially, NuScale ended the year with a strong cash position, holding $1.3 billion in cash, cash equivalents, and investments. The company also conducted a successful at-the-market (ATM) program, selling 39.3 million shares and generating $750.0 million in gross proceeds during the fourth quarter of 2025.

Regarding financial performance, NuScale reported revenue of $31.5 million for the year ended December 31, 2025, a slight decrease from the previous year primarily attributed to reduced revenue from a technology license agreement. However, this decrease was partially offset by increased revenue from engineering services provided to Fluor for the RoPower project. Cost of sales increased to $20.0 million in 2025, mainly due to engineering services under the FEED Phase 2 contract with RoPower.

General and administrative (G&A) expenses rose to $609.8 million in 2025, primarily driven by milestone contributions, strategic business development costs, and advisory fees. Sponsored cost share decreased to $0.1 million in 2025, reflecting changes in project activities and funding.

Overall, NuScale Power’s 2025 results reflect the company’s continued progress towards the commercialization and deployment of its innovative SMR technology. With a strong financial position and a focus on industry partnerships and technological advancements, NuScale is poised for further success in the growing field of advanced nuclear power.