Filing Flows › Nuscale Power (SMR) › Q1 2026
Nuscale Power (SMR) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Nuscale Power (SMR) reported revenue of $565K for the first quarter 2026 (Q1 2026), -96% from a year earlier and -69% from the quarter before.
Nuscale Power, Q1 2026: revenue $565K (-96% year over year), net loss $46.7M, operating cash flow −$315M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $565K | -69% | -96% |
| Operating profit | −$57.5M | — | — |
| Net earnings | −$46.7M | — | — |
| Operating cash flow | −$315M | — | — |
What changed
Revenue was $565K in Q1 2026, down 96% year over year and down 69% from the previous quarter. Power Plant and NPM related services was the largest line at 86% of revenue. Power Plant and NPM related services lost $12.5M year over year (down 96%), 97% of the total change.
Gross margin was 3.7%, down 48.6 points from Q1 2025. Operating costs exceeded revenue by $57.5M, an operating margin of -10181.2%. Operating expenses grew 36% against a revenue fall of 96%. The fastest-growing cost line was Other operating costs (+100%). The quarter ended with a net loss of $46.7M, narrower than the previous quarter's $63.8M loss. Minority interests bore $2.7M of it: to shareholders the quarter was a loss of $44.0M. Non-operating items added $10.8M, -23% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$314.7M. Non-cash charges added back $309K of depreciation and amortization and $5.2M of share-based compensation. Working capital and other items used $273.5M. Capital expenditures of $1.5M exceeded it, leaving free cash flow of −$316.2M.
Questions
What was Nuscale Power's revenue in the first quarter 2026?
Nuscale Power (SMR) reported revenue of $565K for the first quarter 2026 (Q1 2026), -96% from a year earlier and -69% from the quarter before.
Source: Nuscale Power 10-Q on SEC EDGAR.