NuScale Power Corporation's stock plunged 8.59% overnight, extending losses from the regular trading session. The sharp decline followed the release of the company's first-quarter financial results, which significantly missed analyst expectations on both the top and bottom lines.

The small modular reactor (SMR) technology provider reported quarterly revenue of just $565,000, missing the consensus estimate of $14.67 million by a staggering 96.15%. This represents a 95.78% decrease from sales of $13.375 million in the same period last year. The company's net loss also widened to $46.69 million from $30.4 million a year earlier, with a per-share loss of $0.14 missing the estimated $0.13 loss.

Adding to investor concerns is the continued overhang from cornerstone shareholder Fluor Corporation's planned full exit of its approximately 39% stake in NuScale. The agreement involves converting roughly 111 million Class B units into Class A common shares for structured sale, creating potential dilution pressure. Furthermore, the decline occurred amid broad selling pressure across the Heavy Electrical Equipment sector, amplifying the negative sentiment.