Mon, Mar 3, 10:29 PM (57 days ago)
**NuScale Power Corporation (SMR) - 2024 10-K Summary** NuScale Power Corporation reported a revenue increase to $37,045,000 in 2024 from $22,810,000 in 2023, primarily driven by engineering and licensing fees related to the deployment of its NuScale Power Module™ (NPM) in Romania. The net loss widened to $348,387,000, compared to $180,115,000 in the previous year, primarily due to heightened R&D and G&A expenses as the company transitions from R&D to commercialization. Operating expenses included $46,817,000 in R&D and $75,901,000 in G&A. The company anticipates receiving NRC approval for its 6-module, 77 MWe NPM design by mid-2025, which is crucial for future sales. Risks include competition from established SMR technologies in China and Russia, regulatory hurdles, and the need for significant future funding. NuScale's financial condition remains strong with $401,556,000 in cash and no debt as of December 31, 2024. The company is focused on securing customer commitments to support its growth and operational sustainability. The recent restructuring, including a workforce reduction of 28%, aims to align resources with strategic priorities. Overall, NuScale is positioned for potential growth in the evolving nuclear energy sector, but faces significant operational and market risks.