Q4 2025 Nuscale Power Corp Earnings Call Transcript
Key Points
- NuScale Power Corp (SMR) received early approval from the U.S. Nuclear Regulatory Commission for its 77-megawatt electric standard design, enhancing its market position.
- The company has a significant partnership with ENTRA1 Energy and the Tennessee Valley Authority to supply 6 gigawatts of power, marking the largest nuclear power program in U.S. history.
- NuScale's collaboration with Oak Ridge National Laboratory demonstrated the potential of its SMR technology to provide process steam and electricity for chemical plants, showcasing its versatility.
- The company reported a strong liquidity position with $1.3 billion in cash, allowing it to enhance supply chain and manufacturing capabilities.
- NuScale's asset-light business model, relying on partnerships for manufacturing and development, reduces its operational risks and capital expenditure.
- NuScale Power Corp (SMR) experienced a decrease in revenue from $37 million in the previous year to $31.5 million, primarily due to reduced revenue from the RoPower technology licensing agreement.
- The company is still in the early stages of commercialization, with no commercially operating SMR power plants in the United States.
- There is uncertainty regarding the timeline for securing a binding power purchase agreement (PPA) with TVA, which is crucial for future revenue generation.
- NuScale's reliance on third-party partnerships, such as with ENTRA1 and Doosan, introduces potential risks related to execution and supply chain reliability.
- The company faces competitive pressures in the SMR space, with other technologies pursuing different regulatory pathways, which could impact its market share.
Good afternoon, and welcome to NuScale's fourth quarter and full year 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. With us today are John Hawkins, New skill President and Chief Executive Officer; Ramsey Hamady, Chief Financial Officer; and Clay Scott, Chief Commercial Officer. We will begin by providing an update on our business.
Followed by a discussion of our financial results. We will then open the phone lines for questions. This afternoon, we posted supplemental slides on our Investor Relations website -- as reflected in the safe harbor statements on slide 2, the information set forth in the
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