Overview
- Revenue for 2025 was $31.5 million versus $37.0 million in 2024, reflecting lower recognition from the RoPower license partly offset by Fluor FEED Phase 2 services that began winding down late in the year.
- General and administrative expenses rose to $609.8 million, primarily due to the $507.4 million recognition under the ENTRA1 Partnership Milestone Agreement, alongside higher business development and advisory costs.
- Year-end liquidity totaled $1.3 billion in cash, cash equivalents, and investments after NuScale sold 39.3 million shares via an at-the-market program for $750 million in gross proceeds during Q4.
- NuScale reiterated it remains the only SMR developer with NRC design approvals, including its uprated 77 MWe module, and outlined 2026 priorities focused on commercialization and first-module manufacturing readiness.
- ENTRA1 reached a nonbinding collaboration with TVA to explore up to 6 GW of NuScale SMR capacity across TVA’s region, while recent lawsuits reported by financial media question ENTRA1’s project experience.