November 6, 2025 — Leads & Copy — NuScale Power Corporation (NYSE: SMR) today announced its third-quarter results for the period ending September 30, 2025.
NuScale President and CEO John Hopkins said the company is honored that its technology was selected for ENTRA1’s agreement with the Tennessee Valley Authority, marking the largest SMR deployment program in U.S. history. Hopkins said this program underscores how NuScale, as the first and only SMR technology provider to obtain U.S. Nuclear Regulatory Commission design approval, is leading the industry and is ready for commercial deployment. The company looks forward to working with ENTRA1 on commercializing and deploying NuScale Power Modules (NPMs)™ into ENTRA1 Energy Plants™ to meet America’s demand for carbon-free baseload power for AI data centers, mining, semiconductor manufacturing, and other key energy-intensive industries.
Key Highlights:
NuScale ended the third quarter with $753.8 million in cash, cash equivalents, and short- and long-term investments.
The company sold 13.2 million shares through an at-the-market (ATM) program during the third quarter, generating $475.2 million in gross proceeds.
Revenue and cost of sales increased by $7.8 million and $5.2 million, respectively, during the three months ended September 30, 2025, compared to the three months ended September 30, 2024. This increase is primarily due to engineering services supporting RoPower’s goal of deploying an SMR power plant powered by six NPMs in Romania.
Research and development (R&D) expenses decreased $1.1 million during the three months ended September 30, 2025, compared to the three months ended September 30, 2024. This decrease is primarily a result of the Company signing revenue-generating contracts that allow personnel to transition from R&D to commercial projects, resulting in an increase in Cost of sales and a reduction in R&D expenses.
General and administrative expenses (G&A) increased $502.2 million during the three months ended September 30, 2025, compared to the three months ended September 30, 2024. This increase is attributable to:
The recognition of Milestone Contribution 1 of $495.0 million under NuScale’s Partnership Milestones Agreement with ENTRA1.
Higher strategic business development costs of $3.6 million, both resulting from increased commercialization efforts.
$2.2 million in legal and accounting fees.
$1.1 million in higher compensation and equity-based compensation expense.
Other expenses decreased $1.1 million during the three months ended September 30, 2025, compared to the three months ended September 30, 2024, as a result of the Company’s increased commercial activities, allowing engineering & project personnel to work on commercial projects, resulting in an increase in Cost of sales and lower Other expenses.
Investment income increased $3.8 million during the three months ended September 30, 2025, compared to the three months ended September 30, 2024, primarily as a result of the Company’s stronger cash position and higher investments in cash equivalents, short-term investments and longer-term investments.
NuScale will host a conference call today at 5:00 p.m. ET. A live webcast of the presentation will be available by dialing (888) 550-5460 with conference ID 4347254 or by visiting the Quarterly Results page of the Company’s website.
A replay of the webcast will be available for 30 days.
To learn more, visit NuScale Power’s website or follow us on LinkedIn, Facebook, Instagram, X, and YouTube.
Additional information concerning these and other factors can be found in the Company’s public periodic filings with the Securities and Exchange Commission (the “SEC”), including the general economic conditions and other risks, uncertainties and factors set forth in the sections entitled “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2024 and our Quarterly Reports on Form 10-Q and in subsequent filings we make with the SEC. The referenced SEC filings are available either publicly or upon request from NuScale’s Investor Relations Department at ir@nuscalepower.com.
Contact:NuScale’s Investor Relations Department at ir@nuscalepower.com
Source: NuScale Power
