NuScale Power
ConvictionWeak
Pre-revenue technology developer + OEM/licensor: NRC-certified SMR design licensed and sold (modules + FEED/engineering services) through exclusive global commercializer ENTRA1 to utilities, governments, and AI-datacenter offtakers; future recurring revenue from module fabrication, fuel, and plant services. Today substantially milestone/grant-funded, not yet self-sustaining.
Revenue
$0.565M Q1 FY26-95.8% YoY); $31.5M FY2025 (-15% YoY) — fact (10-Q/10-KRev growth
Q1 FY26 -95.8% YoYFY25 -15% YoY — factGross margin
FY25 ~36%rev $31.5M, COGS $20.0M); Q1 FY26 near-nil on $0.6M rev — factOp margin
Deeply negative — Q1 FY26 net loss $46.7M on $0.6M revopex (R&D+SG&A) dwarfs revenue — factCapex intensity
Low PP&E capex but huge working-capital/long-lead-material + ENTRA1 milestone cash use: Q1 FY26 op cash outflow $314.7M incl. $259.9M ENTRA1 payment — factMarket cap
~$3.3B–$3.7BJune 2026; price ~$10–11.74, ~346M sh outstanding — factPrice · 1-year trend
real · weekly$10.07-74% 1yUSD
52-week range
$9 – $52
52w lowas of 2026-06-25 · Yahoo Finance52w high
Across the boards
The thesis on this name
opportunityWeak
AI datacenter power & cooling
Full context
The read
Where our coverage leans
Coverage leans bearish
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Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
Not investment advice — analyst work product for a qualified professional.· intel vintage Jun 2026· sign in (free) for the analyst summary; Pro unlocks full intelligence