NuScale Power Corp (SMR) financial statements: income statement, balance sheet and cash flow
NuScale Power Corp's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), NuScale Power Corp reported revenue of $31.5M (-15.0% year on year) and net income of ($664.5M) (-90.7% year on year).
Income statement
NuScale Power Corp income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Revenue (2025 - $23,921; 2024 - $4,225; 2023 - $16,897 from related party)
$31.5M
$37.0M
$22.8M
$11.8M
Cost of sales
($20.0M)
($4.9M)
($19.0M)
($7.3M)
Gross margin
$11.4M
$32.1M
$3.8M
$4.5M
Research and development expenses
$45.5M
$46.8M
$156.1M
$123.4M
General and administrative expenses
$609.8M
$75.9M
$65.4M
$63.1M
Other expenses (2025 - $0; 2024 - $767; 2023 - $32,875 from related party)
$45.6M
$48.1M
$58.0M
$48.0M
Loss from operations
($689.6M)
($138.7M)
($275.6M)
($230.0M)
Sponsored cost share
$149.0K
$6.9M
$61.0M
$72.3M
Change in fair value of warrant liabilities
$0
($223.0M)
$23.6M
$12.1M
Investment income
$25.3M
$8.4M
—
—
Loss before income taxes
($664.1M)
($346.5M)
($180.1M)
($141.6M)
Foreign income taxes
$342.0K
$1.9M
—
—
Net loss
($664.5M)
($348.4M)
($180.1M)
($141.6M)
Net loss attributable to noncontrolling interests
($308.7M)
($211.8M)
($121.8M)
($84.5M)
Net Loss Attributable to Class A Common Stockholders
($355.8M)
($136.6M)
($58.4M)
($25.9M)
Basic (usd per share)
-$2.17
-$1.47
-$0.80
-$0.51
Diluted (usd per share)
-$2.17
-$1.47
-$0.80
-$0.51
Basic (shares)
163.7M
93.2M
73.4M
50.8M
Diluted (shares)
163.7M
93.2M
73.4M
50.8M
NuScale Power Corp income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Revenue (2025 - $7,431 and $14,700 from related party)
$75.0K
$565.0K
$8.2M
$8.1M
Cost of sales
($227.0K)
($544.0K)
($5.5M)
($6.3M)
Gross Margin
($152.0K)
$21.0K
$2.7M
$1.8M
Research and development expenses
$18.4M
$12.8M
$11.1M
$11.8M
General and administrative expenses
$26.9M
$24.8M
$519.2M
$22.5M
Other expenses
$18.5M
$19.9M
$10.9M
$10.5M
Loss From Operations
($64.0M)
($57.5M)
($538.4M)
($43.1M)
Sponsored cost share
$0
$4.0K
$33.0K
$21.0K
Investment income
$13.9M
$10.8M
$5.8M
$5.5M
Loss Before Income Taxes
($50.1M)
($46.7M)
($532.6M)
($37.6M)
Foreign income taxes
$0
$0
$0
$0
Net Loss
($50.1M)
($46.7M)
($532.6M)
($37.6M)
Net loss attributable to noncontrolling interests
($2.5M)
($2.7M)
($259.3M)
($20.0M)
Net Loss Attributable to Class A Common Stockholders
($47.5M)
($44.0M)
($273.3M)
($17.6M)
Basic (usd per share)
-$0.13
-$0.14
-$1.85
-$0.13
Diluted (usd per share)
-$0.13
-$0.14
-$1.85
-$0.13
Basic (shares)
364.5M
319.7M
147.7M
133.4M
Diluted (shares)
364.5M
319.7M
147.7M
133.4M
Balance sheet
NuScale Power Corp balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$836.4M
$401.6M
$120.3M
$217.7M
Short-term investments
$417.8M
$40.0M
$0
$50.0M
Restricted cash
$5.1M
$5.1M
$5.1M
$26.5M
Prepaid expenses
$4.9M
$3.4M
$19.1M
$5.5M
Accounts and other receivables, net (2025 - $5,452; 2024 - $3,655 from related party)
$8.4M
$21.1M
$10.1M
—
Total current assets
$1.3B
$471.1M
$154.5M
$284.4M
Property, plant and equipment, net
$1.9M
$2.4M
$4.1M
$4.8M
In-process research and development
$16.9M
$16.9M
$16.9M
$16.9M
Intangible assets, net
$527.0K
$704.0K
$882.0K
$1.1M
Goodwill
$8.3M
$8.3M
$8.3M
$8.3M
Long-lead material work in process
$63.8M
$43.4M
$36.4M
—
Investments
$33.0M
—
—
—
Other assets
$15.6M
$1.9M
$3.8M
$6.7M
Total Assets
$1.4B
$544.7M
$224.9M
$348.6M
Accounts payable and accrued expenses
$286.5M
$47.9M
$44.9M
$28.0M
Accrued compensation
$8.3M
$7.3M
$8.5M
$9.0M
Long-lead material liability
$0
$32.3M
$32.3M
—
Other accrued liabilities
$648.0K
$1.4M
$1.7M
$1.6M
Deferred revenue
$613.0K
$762.0K
—
—
Total current liabilities
$296.1M
$89.7M
$87.5M
$38.6M
Deferred revenue
$335.0K
$181.0K
$898.0K
$856.0K
Noncurrent liabilities
$2.6M
$1.6M
$1.4M
$2.8M
Total Liabilities
$299.0M
$91.6M
$95.5M
$71.5M
Common stock, value, issued
$34.0K
$27.0K
$23.0K
$23.0K
Additional paid-in capital
$1.9B
$995.7M
$333.9M
$296.7M
Accumulated deficit
($732.9M)
($377.1M)
($240.5M)
($182.1M)
Total Stockholders' Equity Excluding Noncontrolling Interests
$1.2B
$618.7M
$93.5M
$114.7M
Noncontrolling interests
($55.3M)
($165.6M)
$35.9M
$162.4M
Total Stockholders' Equity
$1.1B
$453.1M
$129.3M
$277.1M
Total Liabilities and Stockholders' Equity
$1.4B
$544.7M
$224.9M
$348.6M
NuScale Power Corp balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$766.5M
$341.1M
$407.6M
$297.7M
Short-term investments
$305.7M
$549.0M
$284.2M
$123.1M
Restricted cash
$5.1M
$5.1M
$5.1M
$5.1M
Prepaid expenses
$10.7M
$4.8M
$7.7M
$3.9M
Accounts and other receivables, net (2025 - $5,452 from related party)
$13.2M
$8.5M
$15.2M
$12.8M
Total current assets
$1.1B
$908.5M
$719.8M
$442.6M
Property, plant and equipment, net
$3.3M
$3.2M
$2.1M
$1.8M
In-process research and development
$16.9M
$16.9M
$16.9M
$16.9M
Intangible assets, net
$438.0K
$483.0K
$571.0K
$616.0K
Goodwill
$8.3M
$8.3M
$8.3M
$8.3M
Long-lead material work in process
$68.6M
$65.1M
$63.3M
$64.3M
Investments
$820.8M
$118.6M
$62.0M
$69.2M
Other assets
$29.8M
$27.3M
$10.2M
$2.8M
Total Assets
$2.0B
$1.1B
$883.1M
$606.5M
Accounts payable and accrued expenses
$19.8M
$21.6M
$403.4M
$64.6M
Accrued compensation
$8.3M
$7.2M
$8.7M
$6.3M
Other accrued liabilities
$756.0K
$728.0K
$560.0K
$1.4M
Deferred revenue
$240.0K
$1.4M
$630.0K
$299.0K
Total current liabilities
$29.1M
$30.9M
$445.6M
$104.9M
Noncurrent liabilities
$6.0M
$7.2M
$2.2M
$2.3M
Deferred revenue
$513.0K
$307.0K
$482.0K
$343.0K
Total Liabilities
$35.5M
$38.4M
$448.3M
$107.6M
Common stock, value
$43.0K
$34.0K
$30.0K
$28.0K
Additional paid-in capital
$2.9B
$1.9B
$1.5B
$1.1B
Accumulated deficit
($824.4M)
($776.9M)
($682.0M)
($408.7M)
Total Stockholders’ Equity Excluding Noncontrolling Interests
$2.1B
$1.2B
$828.7M
$692.9M
Noncontrolling interests
($47.7M)
($57.0M)
($393.9M)
($194.0M)
Total Stockholders' Equity
$2.0B
$1.1B
$434.8M
$498.9M
Total Liabilities and Stockholders' Equity
$2.0B
$1.1B
$883.1M
$606.5M
Cash flow statement
NuScale Power Corp cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net loss
($664.5M)
($348.4M)
($180.1M)
($141.6M)
Depreciation
$1.0M
$1.7M
$2.4M
$2.5M
Amortization of intangibles
$177.0K
$177.0K
$177.0K
$177.0K
Equity-based compensation expense
$19.2M
$13.6M
$16.2M
$9.3M
Provision for credit losses
$0
$1.0M
—
—
Change in fair value of warrant liabilities
$0
$223.0M
($23.6M)
($12.1M)
Loss on disposal of property, plant and equipment
$0
($122.0K)
—
—
Impairment of intangible asset
$0
$71.0K
$797.0K
—
Prepaid expenses and other assets
($15.7M)
$16.4M
($10.0M)
($2.2M)
Accounts and other receivables (2025 - $(1,797); 2024 - $(1,013) and 2023 - $(1,134) from related party)
$9.6M
—
—
—
Long-lead material work in process
($17.2M)
($7.0M)
($36.4M)
—
Accounts payable and accrued expenses (2025 - $0; 2024 - $(4,080) and 2023 - $(3,614) from related party)
$238.4M
$5.7M
$18.2M
$3.0M
Long-lead material liability
($32.3M)
$4.0K
$32.3M
—
Lease liability
$895.0K
($1.6M)
($1.7M)
($1.5M)
Deferred revenue
$5.0K
$45.0K
$42.0K
($559.0K)
Accrued compensation
$950.0K
($1.2M)
($323.0K)
($1.5M)
Net Cash Used in Operating Activities
($459.6M)
($108.7M)
($183.3M)
($148.6M)
Proceeds from sale of short-term investments
$164.2M
—
—
—
Proceeds from sale of investments
$91.9M
—
—
—
Purchase of short-term investments
($542.0M)
($65.0M)
—
($50.0M)
Purchase of investments
($124.9M)
—
—
—
Insurance proceeds for property, plant and equipment
$0
$195.0K
—
—
Purchases of property, plant and equipment
($508.0K)
($44.0K)
($1.7M)
($2.3M)
Net Cash (Used) Provided by Investing Activities
($411.3M)
($39.8M)
$48.3M
($52.3M)
Proceeds from the issuance of common stock, net of issuance fees
$1.3B
$204.6M
$9.8M
—
Proceeds from exercise of warrants
$0
$205.4M
—
—
Proceeds from exercise of common stock options
$6.4M
$22.4M
—
—
Foreign income tax withholding to NCI interests
($416.0K)
($2.6M)
—
—
Net Cash Provided by Financing Activities
$1.3B
$429.8M
$16.1M
$368.1M
Net Change in Cash, Cash Equivalents and Restricted Cash
$434.9M
$281.3M
($118.9M)
$167.1M
Beginning of period
$406.7M
$125.4M
$244.2M
$77.1M
End of period
$841.5M
$406.7M
$125.4M
$244.2M
Warrants converted into equity
$0
$228.7M
$0
$6.3M
Cash paid for income taxes
$2.3M
$3.2M
—
—
NuScale Power Corp cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net Loss
($96.7M)
($46.7M)
($600.6M)
($68.0M)
Depreciation and amortization
$643.0K
$309.0K
$911.0K
—
Equity-based compensation expense
$11.8M
$5.2M
$14.5M
$9.7M
Disposal of property, plant and equipment
$0
—
$46.0K
$46.0K
Prepaid expenses and other assets
($10.9M)
($7.8M)
($12.1M)
($600.0K)
Accounts and other receivables (2025 - $979 from related party)
($5.6M)
($90.0K)
$5.9M
$8.3M
Long-lead material work in process
($4.8M)
($1.3M)
($19.9M)
($21.0M)
Long-lead material liability
$0
—
($4.0K)
($4.0K)
Accounts payable and accrued expenses
($268.2M)
($264.2M)
$354.1M
$16.2M
Net change in right of use assets and lease liabilities
$315.0K
$107.0K
($156.0K)
($103.0K)
Deferred revenue
$571.0K
$768.0K
$169.0K
($300.0K)
Accrued compensation
$28.0K
($1.0M)
$1.4M
($1.0M)
Net Cash Used in Operating Activities
($372.9M)
($314.7M)
($255.9M)
($56.1M)
Proceeds from sale of short-term investments
$629.8M
$222.8M
$102.8M
$20.0M
Proceeds from sale of investments
$17.6M
$5.9M
$44.0M
—
Purchase of short-term investments
($472.7M)
($344.0M)
($347.0M)
($103.1M)
Purchase of investments
($850.4M)
($101.5M)
($106.0M)
($69.2M)
Purchase of property, plant and equipment
($2.0M)
($1.5M)
($141.0K)
—
Net Cash Used in Investing Activities
($677.7M)
($218.4M)
($306.3M)
($152.2M)
Proceeds from the issuance of common stock, net of issuance fees
$984.5M
$37.3M
$562.4M
$99.8M
Proceeds from exercise of common share options
$627.0K
$531.0K
$5.9M
$4.7M
Net Cash Provided by Financing Activities
$985.1M
$37.8M
$568.3M
$104.5M
Net Change in Cash, Cash Equivalents and Restricted Cash
($65.5M)
($495.3M)
$6.0M
($103.9M)
Beginning of period
$841.5M
$841.5M
$406.7M
$406.7M
End of period
$776.0M
$346.2M
$412.7M
$302.8M
Investments that converted into short-term investments
$45.0M
$10.0M
—
—
Accrued foreign income tax withholding to noncontrolling interests