Filing Flows › Industrials › Nuscale Power (SMR)
Nuscale Power (SMR) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Nuscale Power (SMR) Q3 2026 earnings results →
Q3 2026 Revenue down 97% year over year to $281K
Nuscale Power made $281K in Q3 2026 (-97% Y/Y): Energy Exploration Centers $258K, Power Plant and NPM related services $23K. Operating margin n/m, net loss $45.7M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $281K in Q3 2026, down 97% year over year and up 275% from the previous quarter. Energy Exploration Centers was the largest line at 92% of revenue. Power Plant and NPM related services lost $8.0M year over year (down 100%), 101% of the total change.
Gross margin was 47.3%, up 14.5 points from Q3 2025. Operating costs exceeded revenue by $64.8M, an operating margin of -23067.6%. Operating expenses fell 88% while revenue fell 97%. The fastest-growing cost line was Other operating costs (+75%). The quarter ended with a net loss of $45.7M, narrower than the previous quarter's $50.1M loss. Minority interests bore $2.1M of it: to shareholders the quarter was a loss of $43.7M. Non-operating items added $19.1M, -42% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$28.6M. Non-cash charges added back $341K of depreciation and amortization and $6.3M of share-based compensation. Working capital and other items added $10.5M. Capital expenditures of $94K exceeded it, leaving free cash flow of −$28.7M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $281K | -97% | n/m | −$45.7M | −$28.6M |
| Q2 2026 | 10-Q | Aug 5, 2026 | $75K | -99% | n/m | −$50.1M | −$58.2M |
| Q1 2026 | 10-Q | May 7, 2026 | $565K | -96% | n/m | −$46.7M | −$315M |
| Q4 2025 | 10-K | Feb 26, 2026 | $1.8M | -95% | n/m | −$63.8M | −$204M |
| Q3 2025 | 10-Q | Nov 6, 2025 | $8.2M | 17× | n/m | −$533M | −$200M |
| Q2 2025 | 10-Q | Aug 7, 2025 | $8.1M | +733% | -534.9% | −$37.6M | −$33.3M |
| Q1 2025 | 10-Q | May 12, 2025 | $13.4M | +870% | -264.1% | −$30.4M | −$22.8M |
Charts
In supply chains and themes
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
Loading the interactive chart…
🌏Named in Asian annual reportsinteractive
Loading the interactive chart…
🔄Rotation against the market and its industry (RRG)interactive
Loading the interactive chart…
🔍Earnings qualityinteractive
Loading the interactive chart…
⚖️Fair value by methodinteractive
Loading the interactive chart…
🔭Outlook & guidanceinteractive
Loading the interactive chart…
📈Investments: gains and what it boughtinteractive
Loading the interactive chart…
🏭Its industry’s money flow (input-output)interactive
Loading the interactive chart…
Customers and suppliers named in filings
Buys from
About Nuscale Power
Unless the context otherwise requires, all references in this section to “NuScale,” the “Company,” “we,” “us” or “our” refer to the consolidated operations of NuScale Corp and NuScale LLC. NuScale is redefining nuclear power through the development of proprietary and innovative SMR technology that the Company believes will deliver safe, scalable, cost-effective and reliable carbon-free power. The Company’s core technology, the Light Water Nuclear Reactor NuScale Power Module™ (“NPM”), can generate 77 MWe and is premised on well-established nuclear technology principles, with a focus on the integration of components, simplification or elimination of systems and use of passive safety features. The Company believes this results in a safe and highly reliable power plant suitable to be sited close to where electricity, water desalinization, hydrogen production or process heat is needed.
In its own words, from its 10-K, filed Feb 26, 2026.
Nuscale Power against its Fabricated Plate Work (Boiler Shops) peers
The largest companies of the same SEC industry, each at its latest quarter.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| SMR Nuscale Power | Q3 2026 | $281K | -97% | n/m |
| XE X-Energy | Q2 2026 | $54.6M | +154% | -201.5% |
Source: Nuscale Power 10-Q on SEC EDGAR · CIK 1822966 · Fabricated Plate Work (Boiler Shops)
Guidance and outlook
13F: who owns SMR and who is buying
More on SMR
- How Nuscale Power makes money: revenue by segment
- Nuscale Power next earnings date and what analysts expect
- Nuscale Power stock forecast, price target and fair value
- Who owns Nuscale Power stock: holders, funds and Congress trades
- Nuscale Power guidance and outlook
- Is Nuscale Power a takeover target? LBO and rumors
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results