NUSCALE POWER Corp

Listed Company

SMRCIK 0001822966NYSELarge AcceleratedFabricated Plate Work (Boiler Shops)FY ends Dec 31

Period

FY 2025

Revenue

$31.48M

Net Income

$-355.79M

Total Assets

$1.41B

Equity

$1.17B

Shares Out

236.75M

Op. Cash Flow

$-459.61M

Business

NuScale Power Corp develops and commercializes small modular reactor (SMR) technology aimed at delivering safe, scalable, cost‑effective, carbon‑free power. Its main products include the NuScale Power Module™ (NPM) and associated NSSS equipment, together with services such as licensing support, testing, training, fuel supply and program management across the plant lifecycle. The company operates in a single business segment focused on SMR equipment and services and leverages strategic partners and supply‑chain collaborations for manufacturing and EPC delivery. NuScale targets domestic and international customers including governments, utilities, state‑owned enterprises and industrial off‑takers through direct sales, licensing and developer partnerships like ENTRA1.

Summary from filing dated 2025-03-03

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue (2025 - $23,921; 2024 - $4,225; 2023 - $16,897 from related party)	31	37	23	12	3
Cost of sales	−20	−5	−19	−7	−2
Gross margin	11	32	4	4	1
Research and development expenses	46	47	156	128	94
General and administrative expenses	610	76	65	55	39
Other expenses (2025 - $0; 2024 - $767; 2023 - $32,875 from related party)	46	48	58	52	42
Loss from operations	−690	−139	−276	−230	−174
Sponsored cost share	149,000	7	61	73	74
Change in fair value of warrant liabilities	0	−223	24	12	0
Investment income	25	8	11	4	—
Loss before income taxes	−664	−346	−180	−142	−102
Foreign income taxes	342,000	2	0	0	—
Net loss	−664	−348	−180	−142	−102
Net loss attributable to noncontrolling interests	−309	−212	−122	−85	0
Net Loss Attributable to Class A Common Stockholders	−356	−137	−58	−26	−102
Basic (usd per share)	−2.17	−1.47	−0.8	−0.51	0
Diluted (usd per share)	−2.17	−1.47	−0.8	−0.51	0
Basic (shares)	164	93	73	51	0
Diluted (shares)	164	93	73	51	0

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	836	402	120	218	77
Short-term investments	418	40	0	50	0
Restricted cash	5	5	5	0	—
Prepaid expenses	5	3	19	6	4
Accounts and other receivables, net (2025 - $5,452; 2024 - $3,655 from related party)	8	21	10	11	—
Total current assets	1,273	471	155	284	86
Property, plant and equipment, net	2	2	4	5	5
In-process research and development	17	17	17	17	17
Intangible assets, net	527,000	704,000	882,000	1	1
Goodwill	8	8	8	8	8
Long-lead material work in process	64	43	36	0	—
Investments	33	0	—	—	—
Other assets	16	2	4	7	4
Total Assets	1,413	545	225	349	121
Accounts payable and accrued expenses	287	48	45	28	22
Accrued compensation	8	7	9	9	11
Long-lead material liability	0	32	32	0	—
Other accrued liabilities	648,000	1	2	2	1
Deferred revenue	613,000	762,000	0	—	—
Total current liabilities	296	90	87	39	48
Deferred revenue	335,000	181,000	898,000	856,000	1
Noncurrent liabilities	3	2	1	3	3
Total Liabilities	299	92	96	72	53
Additional paid-in capital	1,902	996	334	297	0
Accumulated deficit	−733	−377	−240	−182	−782
Total Stockholders' Equity Excluding Noncontrolling Interests	1,169	619	93	115	66
Noncontrolling interests	−55	−166	36	162	0
Total Stockholders' Equity	1,114	453	129	277	66
Total Liabilities and Stockholders' Equity	1,413	545	225	349	121

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation	1	2	2	3	2
Amortization of intangibles	177,000	177,000	177,000	177,000	177,000
Equity-based compensation expense	19	14	16	9	6
Provision for credit losses	0	1	0	0	—
Loss on disposal of property, plant and equipment	0	−122,000	0	0	—
Impairment of intangible asset	0	71,000	797,000	0	0
Prepaid expenses and other assets	−16	16	−10	−2	−2
Accounts and other receivables (2025 - $(1,797); 2024 - $(1,013) and 2023 - $(1,134) from related party)	10	−12	1	—	—
Long-lead material work in process	−17	−7	−36	0	0
Accounts payable and accrued expenses (2025 - $0; 2024 - $(4,080) and 2023 - $(3,614) from related party)	238	6	18	3	6
Long-lead material liability	−32	4,000	32	—	—
Lease liability	895,000	−2	−4	−2	−2
Deferred revenue	5,000	45,000	42,000	−559,000	1
Accrued compensation	950,000	−1	−323,000	−2	5
Net Cash Used in Operating Activities	−460	−109	−183	−149	−99
Proceeds from sale of short-term investments	164	25	50	—	—
Proceeds from sale of investments	92	0	0	—	—
Purchase of short-term investments	−542	−65	0	−50	0
Purchase of investments	−125	0	0	—	—
Insurance proceeds for property, plant and equipment	0	195,000	0	0	—
Purchases of property, plant and equipment	−508,000	−44,000	−2	−2	−2
Net Cash (Used) Provided by Investing Activities	−411	−40	48	−52	−2
Proceeds from the issuance of common stock, net of issuance fees	1,300	205	10	0	0
Proceeds from exercise of warrants	0	205	0	22	—
Proceeds from exercise of common stock options	6	22	6	6	—
Foreign income tax withholding to NCI interests	−416,000	−3	0	0	—
Net Cash Provided by Financing Activities	1,306	430	16	368	173
Net Change in Cash, Cash Equivalents and Restricted Cash	435	281	−119	167	72
Warrants converted into equity	0	229	0	6	0
Cash paid for income taxes	2	3	0	0	—

Filings

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