Q1 2025 Nuscale Power Corp Earnings Call Transcript
Key Points
- NuScale Power Corp (SMR) remains the only SMR company with US Nuclear Regulatory Commission design approval, positioning it ahead of competitors.
- The company is on track to meet its 2030 delivery target, with significant progress in customer engagement and supply chain readiness.
- NuScale's RoPower project in Romania is advancing, with meaningful revenue and cash flow contributions, and discussions to extend the project into the detailed design phase.
- The company anticipates final approval from the NRC to increase power output per module from 50-megawatt electric to 77-megawatt electric by July 2025.
- NuScale has a strong balance sheet with cash and cash equivalents of $491.4 million, bolstered by a successful sale of shares generating $102.4 million in gross proceeds.
- Operating expenses remain high at $42.3 million for the quarter, although slightly reduced from the previous year.
- The company is still in the process of securing a firm customer order, with expectations set for the end of 2025.
- NuScale faces potential challenges from tariffs, although they do not anticipate a material impact at this time.
- The nuclear supply chain is tight, with a limited number of suppliers, which could impact the ability to fulfill multiple orders simultaneously.
- NuScale's cash flow is dependent on securing a customer contract, which remains uncertain despite ongoing discussions.
Good afternoon. Welcome to NuScale's first-quarter 2025 earnings results conference call.
Today's call is being recorded. A replay of today's conference call will be available and accessible on NuScale's Investor Relations website. The web replay will be available for 30 days, following the earnings call.
At this time, for opening remarks, I would like to turn the call over to Rodney McMahan, Senior Director of Investor Relations. Please go ahead.
Thank you, operator. Welcome to NuScale's first-quarter 2025 earnings results conference call.
With us today are John Hopkins, President and Chief Executive Officer; and Ramsey Hamady, Chief Financial Officer.
On today's call, we will provide an update on our business and discuss our quarterly financial results. We'll then open the phone line for questions.
This afternoon, we posted a set of supplemental slides on our Investor Relations website.
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