Filing Flows › Nuscale Power (SMR) › Q4 2025
Nuscale Power (SMR) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
Nuscale Power (SMR) reported revenue of $1.8M for the fourth quarter 2025 (Q4 2025), -95% from a year earlier and -78% from the quarter before.
Nuscale Power, Q4 2025: revenue $1.8M (-95% year over year), net loss $63.8M, operating cash flow −$204M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.8M | -78% | -95% |
| Operating profit | −$72.7M | — | — |
| Net earnings | −$63.8M | — | — |
| Operating cash flow | −$204M | — | — |
What changed
Revenue was $1.8M in Q4 2025, down 95% year over year and down 78% from the previous quarter. Power Plant and NPM related services was the largest line at 91% of revenue.
Operating costs exceeded revenue by $72.7M, an operating margin of -4022.2%. The fastest-growing cost line was General & admin (+97%). The quarter ended with a net loss of $63.8M, narrower than the previous quarter's $532.6M loss. Minority interests bore $13.0M of it: to shareholders the quarter was a loss of $50.8M.
Operating cash flow was −$203.7M. Non-cash charges added back $270K of depreciation and amortization and $4.7M of share-based compensation. Working capital and other items used $144.8M. Capital expenditures of $367K exceeded it, leaving free cash flow of −$204.1M.
Questions
What was Nuscale Power's revenue in the fourth quarter 2025?
Nuscale Power (SMR) reported revenue of $1.8M for the fourth quarter 2025 (Q4 2025), -95% from a year earlier and -78% from the quarter before.
Source: Nuscale Power 10-K on SEC EDGAR.