Oklo Inc (NYSE:OKLO) reported financial results for the first quarter on Tuesday after the closing bell. Here’s a rundown of the report.
- Oklo stock is trending after earnings. Where is OKLO stock going?
Oklo Q1 Earnings Highlights
Oklo posted a loss of 19 cents per share for the first quarter, beating analyst estimates for a loss of 20 cents per share, according to Benzinga Pro.
The company said it has used $17.90 million of cash in operations year-to-date and $359 million of cash for investing activities. Oklo reported a net loss of $33.07 million and a loss from operations of $51.25 million for the quarter.
Oklo exited the quarter with approximately $1.60 billion of cash and cash equivalents and $900 million of marketable securities. The company expects to utilize its existing cash to fund construction of its powerhouses, fuel and radioisotope businesses, operations and growth plans.
Oklo noted that it believes its existing cash, cash equivalents and marketable debt securities will be sufficient to fund its operations for one year.
Oklo broke ground on its first Aurora powerhouse in September. The company continues to target the deployment of its first powerhouse in 2028.
Oklo executives will further discuss the quarter on an earnings call with investors and analysts at 5 p.m. ET.
OKLO Shares Slide After The Close
OKLO Price Action: Oklo shares were down 0.86% in Tuesday’s after-hours session, trading at $73 at the time of publication, according to Benzinga Pro.
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