Terrestrial Energy Inc. /DE/
Business
Terrestrial Energy Inc. is an advanced nuclear technology company developing the Integral Molten Salt Reactor (IMSR) Plant, a small modular reactor using proprietary molten salt design. The company provides engineering services, reactor components (IMSR Core-units), and nuclear fuel supply to IMSR Plant owner-operators globally. Revenue streams span pre-construction, construction, post-construction core replacement over 56-year plant lifespans, and recurring fuel supply, with a target first commercial operations in 2034.
Summary from 10-K filed 2026-03-30
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 |
|---|---|---|---|
| Engineering services revenue | — | 248,357 | |
| Research and development costs | 10 | 5 | |
| General and administrative | 14 | 4 | |
| Depreciation and amortization | 1 | 1 | |
| Total Operating Expenses | 25 | 11 | |
| OPERATING LOSS | −25 | −10 | |
| Government grants | 323,496 | 708,004 | |
| Loss on extinguishment of debt | — | −1 | |
| Interest and dividend income | 1 | 59,860 | |
| Foreign exchange gain (loss) | −57,214 | 617,357 | |
| OTHER (EXPENSE) INCOME | −3 | −1 | |
| Net loss before income tax | −28 | −11 | |
| Income tax expense | −17,950 | −20,965 | |
| Net loss | −28 | −11 | |
| Loss per common share, basic (in dollars per share) | −0.39 | −0.19 | |
| Loss per common share, diluted (in dollars per share) | −0.39 | −0.19 | |
| Weighted-Average Shares of Common Shares Outstanding, Basic (in shares) | 72 | 60 | |
| Weighted-Average Shares of Common Shares Outstanding, Diluted (in shares) | 72 | 60 | |
| Foreign currency translation adjustments | −260,731 | 395,525 | |
| Change in unrealized gains on short term investments | 1 | — | |
| Comprehensive loss | −27 | −11 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | 97 | 3 | — | |
| Short-Term Investments | 201 | — | — | |
| Prepaid expenses and other current assets | 2 | 270,091 | — | |
| Total current assets | 300 | 3 | — | |
| Property and equipment, net | 834,795 | 770,548 | — | |
| Intangible assets, net | 707,749 | 616,972 | — | |
| Right-of-use assets | 2 | 622,450 | — | |
| Other assets | 63,611 | 29,748 | — | |
| Total Assets | 303 | 5 | — | |
| Accounts payable and accrued expenses | 6 | 748,867 | — | |
| Operating lease liabilities, current | 383,223 | 114,507 | — | |
| Finance lease liabilities, current | 33,362 | 140,796 | — | |
| Related party advance (Note 12) | — | 100,000 | — | |
| Total current liabilities | 6 | 1 | — | |
| Operating lease liabilities, noncurrent | 2 | 598,493 | — | |
| Finance lease liabilities, noncurrent | 55,979 | 49,044 | — | |
| Deferred tax liabilities, net | — | 665,953 | — | |
| Total liabilities | 8 | 19 | — | |
| Commitments and Contingencies (Note 18) | — | — | — | |
| Common shares, $0.0001 par value; 500,000,000 authorized shares; 81,771,422 and 39,159,901 shares issued and outstanding as of December 31, 2025 and 2024, respectively | 8,177 | 3,916 | — | |
| Exchangeable shares, $0.0001 par value; 24,011,017 shares issued and outstanding as of December 31, 2025 and December 31, 2024 | 2,401 | 2,401 | — | |
| Additional paid-in-capital | 419 | 83 | — | |
| Accumulated deficit | −125 | −97 | — | |
| Accumulated other comprehensive income | 1 | 337,189 | — | |
| Total stockholders' equity (deficit) | 295 | −13 | −5 | |
| Total liabilities and stockholders' equity (deficit) | 303 | 5 | — |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 |
|---|---|---|---|
| Amortization of debt discount | 2 | 802,573 | |
| Stock-based compensation | 3 | 670,243 | |
| Unrealized foreign currency transaction gain | −807,193 | −812,849 | |
| Noncash lease expense | 471,362 | 152,086 | |
| Deferred income taxes | 15,401 | −15,401 | |
| Accounts receivable | — | 19,163 | |
| Prepaid expenses and other current assets | −2 | 166,315 | |
| Accounts payable and accrued expenses | 5 | −196,299 | |
| Operating lease payments | −328,510 | −133,454 | |
| Net cash used in operating activities | −17 | −8 | |
| Purchases of intangible assets | −86,150 | −54,404 | |
| Purchases of property and equipment | −1 | −607,866 | |
| Purchase of short-term investments | −199 | — | |
| Net cash used in investing activities | −201 | −662,270 | |
| Proceeds from Series A-1 preferred shares issuance | 26 | — | |
| Proceeds from the exercise of stock options for common shares | 136 | — | |
| Proceeds from warrant exercise for common shares | 5 | — | |
| Proceeds from issuance of shares to PIPE investors | 50 | — | |
| Proceeds from merger financing | 243 | — | |
| Payment of merger and recapitalization related transaction costs | −22 | — | |
| Proceeds from related party advances | — | 100,000 | |
| Repayment of finance lease liabilities | −149,138 | −58,732 | |
| Net cash provided by financing activities | 311 | 7 | |
| Effect of exchange rate changes on cash and cash equivalents | −140,650 | 32,201 | |
| Increase (decrease) in cash and cash equivalents during the year | 94 | −2 | |
| Interest paid | — | 514,431 | |
| Conversion of convertible notes to common shares | 30 | — | |
| Initial recognition of finance leases | 42,590 | — | |
| Recognition of warrants in connection with convertible notes, net of tax | 3 | 2 | |
| Related party debt extinguishment | — | 202,204 | |
| Acquisition of non-controlling interest | — | 534,611 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Terrestrial Energy Inc. /DE/'s CIK number?
Terrestrial Energy Inc. /DE/'s SEC CIK number is 0002019804 (2019804). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Terrestrial Energy Inc. /DE/'s SEC filings?
All of Terrestrial Energy Inc. /DE/'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Terrestrial Energy Inc. /DE/ last report earnings?
Terrestrial Energy Inc. /DE/ (IMSR) most recently filed an earnings 8-K with the SEC on May 14, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001104659-26-060716). This is Terrestrial Energy Inc. /DE/'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Terrestrial Energy Inc. /DE/'s most recent earnings 8-K?
Terrestrial Energy Inc. /DE/'s latest earnings 8-K (Item 2.02) was filed May 14, 2026 under accession 0001104659-26-060716. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Terrestrial Energy Inc. /DE/'s latest earnings 8-K →
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