Filing Flows › Nuscale Power (SMR) › Q1 2025
Nuscale Power (SMR) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 12, 2025
Nuscale Power (SMR) reported revenue of $13.4M for the first quarter 2025 (Q1 2025), +870% from a year earlier and -61% from the quarter before. Operating margin was -264.1%, net loss $30.4M (227.3% of revenue).
Nuscale Power, Q1 2025: revenue $13.4M (+870% year over year), operating margin -264.1%, net loss $30.4M, operating cash flow −$22.8M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $13.4M | -61% | +870% |
| Operating profit | −$35.3M | — | — |
| Net earnings | −$30.4M | — | — |
| Operating cash flow | −$22.8M | — | — |
What changed
Revenue was $13.4M in Q1 2025, up 870% year over year and down 61% from the previous quarter. Power Plant and NPM related services was the largest line at 97% of revenue. Power Plant and NPM related services added $11.7M year over year (up 958%), 98% of the total change. Other declined 15%.
Gross margin was 52.4%, up 5.7 points from a year earlier. Operating costs exceeded revenue by $35.3M, an operating margin of -264.1%. Operating expenses fell 5% while revenue rose 870%. The fastest-growing cost line was General & admin (+20%). The quarter ended with a net loss of $30.4M, narrower than the previous quarter's $180.3M loss. Minority interests bore $16.4M of it: to shareholders the quarter was a loss of $14.0M.
Operating cash flow was −$22.8M. Non-cash charges added back $313K of depreciation and amortization and $4.5M of share-based compensation. Working capital and other items added $2.8M. Capital expenditures of $67K exceeded it, leaving free cash flow of −$22.9M.
Questions
What was Nuscale Power's revenue in the first quarter 2025?
Nuscale Power (SMR) reported revenue of $13.4M for the first quarter 2025 (Q1 2025), +870% from a year earlier and -61% from the quarter before.
Was Nuscale Power profitable in the first quarter 2025?
Operating loss was $35.3M (-264.1% of revenue) and net loss $30.4M.
Source: Nuscale Power 10-Q on SEC EDGAR.