Filing Flows › Nuscale Power (SMR) › Q2 2025
Nuscale Power (SMR) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Nuscale Power (SMR) reported revenue of $8.1M for the second quarter 2025 (Q2 2025), +733% from a year earlier and -40% from the quarter before. Operating margin was -534.9%, net loss $37.6M (467.0% of revenue).
Nuscale Power, Q2 2025: revenue $8.1M (+733% year over year), operating margin -534.9%, net loss $37.6M, operating cash flow −$33.3M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $8.1M | -40% | +733% |
| Operating profit | −$43.1M | — | — |
| Net earnings | −$37.6M | — | — |
| Operating cash flow | −$33.3M | — | — |
What changed
Revenue was $8.1M in Q2 2025, up 733% year over year and down 40% from the previous quarter. Power Plant and NPM related services was the largest line at 92% of revenue. Power Plant and NPM related services added $6.6M year over year (up 764%), 93% of the total change.
Gross margin was 22.1%, up 10.0 points from a year earlier. Operating costs exceeded revenue by $43.1M, an operating margin of -534.9%. Operating expenses grew 7% against revenue growth of 733%. The fastest-growing cost line was General & admin (+34%). The quarter ended with a net loss of $37.6M, wider than the previous quarter's $30.4M loss. Minority interests bore $20.0M of it: to shareholders the quarter was a loss of $17.6M.
Operating cash flow was −$33.3M. Non-cash charges added back $305K of depreciation and amortization and $5.2M of share-based compensation. Capital expenditures of −$67K exceeded it, leaving free cash flow of −$33.3M.
Questions
What was Nuscale Power's revenue in the second quarter 2025?
Nuscale Power (SMR) reported revenue of $8.1M for the second quarter 2025 (Q2 2025), +733% from a year earlier and -40% from the quarter before.
Was Nuscale Power profitable in the second quarter 2025?
Operating loss was $43.1M (-534.9% of revenue) and net loss $37.6M.
Source: Nuscale Power 10-Q on SEC EDGAR.