Helion Energy, Inc.
ConvictionWeak
Pre-revenue deep-tech IP + capital-intensive first-of-a-kind power plant; future revenue via merchant power-purchase agreements (PPA) with hyperscalers/utilities. Vertically integrated manufacturing (in-house capacitors, magnets, pulsed-power).
Revenue
Not disclosed — pre-revenueno fusion electricity sold to grid (as of Jun 2026Rev growth
n/apre-revenueGross margin
n/aOp margin
n/a — deeply cash-burning R&D + first-of-a-kind capexCapex intensity
Extreme — building the Orion plantMalaga, WA) + 8 prototype generations; capacitors ordered 3 yrs ahead, Polaris alone = ~150 shipping containers of capacitors + ~50,000 pulse-power semiconductorsValuation
~$15.5B post-moneySeries G, Jun 4 2026Valuation trail
$15.5B5.2× since Nov 2021
3 marks · Nov 2021–Jun 2026
private — no public price
Priced round
Only Series E/F/G carry disclosed post-money valuations; Series A-D and early 2013-14 grants/seed were never priced-and-disclosed, so omitted. No publicly-disclosed secondary/tender mark.
The read
Where our coverage leans
Coverage leans bullish
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Full financial intelligence for Helion Energy, Inc.
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 Q2 2026· sign in (free) for the analyst summary; Pro unlocks full intelligence