NuScale Power reports Q1 revenue $1.4M, net loss $48.1M; targets $50-60M annual savings

NUSCALE POWER Corp

2024-Q1 EPS reported -$0.21 revenue$1,379,000

Revenue $1.4M vs $5.5M YoY; net loss $48.1M vs $35.6M YoY, includes $9.0M non-cash warrant adjustment.
Cash and equivalents $137.1M (no debt), up from $125.4M at year-end 2023.
Expected annualized cost savings of $50-60M starting Q2 2024 from strategic restructuring.
Doosan Enerbility continues manufacturing NuScale Power Modules; Fluor/RoPower FEED planning ongoing.
CEO cites hyperscale data center and AI demand driving interest in SMR technology.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NUSCALE POWER Corp reported the quarter ended March 31, 2024 results: revenue $1.4 million, net income $48.1 million.

Period: the quarter ended March 31, 2024
Revenue: $1.4 million
Net income: $48.1 million
Result: reported results

Exact text from the filing

NuScale reported revenue of $1.4 million and net loss of $48.1 million for the three-month period ended March 31, 2024

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Source: SEC EDGAR

accession 0001822966-24-000069

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