Oklo Inc (NYSE:OKLO) reported financial results for the first quarter after the market close on Tuesday. Here’s a rundown of the nuclear company’s report.
Q1 Earnings: Nuclear startup Oklo reported a first-quarter loss of seven cents per share, improved from a loss of 34 cents per share in the prior year’s quarter, according to Benzinga Pro.
Oklo reported operating losses of $17.9 million in the first quarter, primarily driven by payroll, professional fees and other general business expenses. The company said it used $12.2 million of cash in operations during the period and ended the quarter with $90.08 million in cash, cash equivalents and marketable securities.
Check This Out: Stocks Surge, Nvidia Rallies 5%, Oil Tops $63 After Trump’s Iran Warning: What’s Driving Markets Tuesday?
Oklo said it’s “nearing submission” of the Oklo Fuel Foundry LPP to the Nuclear Regulatory Commission (NRC), which is the next step in the licensing process for its commercial fuel fabrication facility.
Oklo also announced Tuesday morning that it completed borehole drilling for site characterization work at the Idaho National Laboratory site, the location for the company’s first planned Aurora Powerhouse. The company said in the business update that it’s targeting plant operations in late 2027 or early 2028.
Oklo also announced the appointment of Pat Schweiger as chief technology officer. Schweiger is a veteran executive and engineer who previously held leadership roles across the advanced fission and fusion industries.
“Pat's decades of experience and expertise in power engineering will be a tremendous asset to Oklo as we move toward the commercialization of our advanced nuclear technologies,” said Jacob DeWitte, co-founder and CEO of Oklo.
Oklo is backed by OpenAI’s Sam Altman, who recently stepped down as board chair to give the company more flexibility to go after partnerships with hyperscalers.
Oklo executives will further discuss the quarter on a conference call with investors and analysts set for 5 p.m. ET.
OKLO Price Action: Oklo shares closed Tuesday up 11.02% at $32.03. Shares were trading approximately flat in Tuesday’s after-hours session at the time of publication, according to Benzinga Pro.
Read Next:
Photo: courtesy of Oklo.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。