GET DAILY SIGNALSNuScale Power (SMR) Q3 Results Highlight Narrowed Losses and Manufacturing Progress
Key Takeaways
- NuScale Power reported third-quarter 2026 revenue of roughly $0.3 million, down sharply from $8.2 million in the prior-year period.
- Net loss narrowed significantly to approximately $45.7 million, with a loss of $0.11 per share, versus a loss of $1.85 per share a year earlier.
- The company's per-share loss came in better than consensus expectations, while revenue fell below analyst estimates.
- NuScale ended the quarter with about $1.9 billion in liquidity, up from roughly $916 million a year ago.
- Management highlighted a landmark agreement with Doosan Enerbility to begin fabricating the first NuScale Power Module, marking a shift from design to actual manufacturing.
Why These Results Matter for NuScale Power
NuScale Power develops small modular reactor technology, offering compact, factory-built nuclear systems aimed at delivering carbon-free baseload power. With commercial revenue still ahead, quarterly updates tend to focus less on current sales and more on progress toward commercialization, manufacturing readiness, and prudent capital use. This quarter stands out because the company is moving from a development focus into physical production, a step investors view as critical for turning design approvals and potential orders into lasting revenue streams. Liquidity strength, cost control, and concrete steps with supply-chain partners therefore shape how the market reads the update.
The Quarter in Numbers
For the third quarter ended September 30, 2026, NuScale Power posted revenue of approximately $0.3 million, compared with $8.2 million in the same period last year. The drop stems from the absence of prior-year Front-End Engineering and Design work on the RoPower project, which wrapped up in late 2025. The company recorded a net loss of roughly $45.7 million, a meaningful improvement from the $532.6 million loss a year earlier, and a per-share loss of $0.11 versus $1.85 in the prior-year quarter.
The per-share result beat consensus estimates, though revenue missed analyst forecasts amid the company's still-limited recurring sales. Operating expenses reached about $65 million, reflecting increased research and development spending to advance the NuScale Power Module. Management does not issue formal financial guidance.
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Investor Reaction and the Bigger Picture
Sentiment around NuScale Power continues to hinge more on commercialization milestones than on near-term financials. The results underscored the gap between fading project-based engineering revenue and the manufacturing phase now underway. Emphasis on the Doosan Enerbility agreement, which covers fabrication of the upper reactor coolant system as a key part of the first NuScale Power Module, reinforced the move from planning to execution. Shares have seen notable volatility over the past year, and the wait for meaningful product revenue until modules are built and deployed remains a central consideration for investors.
What to Watch Going Forward
Looking ahead, the main drivers will be progress on the commercial pipeline, especially work with partner ENTRA1 Energy and discussions with the Tennessee Valley Authority. Binding agreements and a formal original equipment manufacturer arrangement would represent an important step toward turning the NRC-approved design into contracted revenue.
Manufacturing execution will also draw attention. The Doosan Enerbility deal to start first-article production serves as an early test of whether the technology can be built to nuclear standards and on schedule. Any delays in fabrication could push back the conversion of the order pipeline into revenue.
Cost trends warrant monitoring as well. Research and development spending has risen with component readiness, and management has noted that operating expenses could increase once project activity ramps up. Investors will track how disciplined NuScale remains with capital while funding fabrication and engineering work.
The wider energy environment, including demand from data centers and industrial users for reliable, carbon-free power, will continue to influence views. While management points to bipartisan support for nuclear energy, the staying power of that demand and the pace of customer commitments remain factors to follow in coming quarters.
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Contributor
Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
SMR's RSI Oscillator stoops into oversold zone
The RSI Indicator for SMR moved into overbought territory on November 04, 2026. Be on the watch for a price drop or consolidation in the future -- when this happens, think about selling the stock or exploring put options.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Stochastic Oscillator demonstrated that the ticker has stayed in the oversold zone for 1 day, which means it's wise to expect a price bounce in the near future.
The Moving Average Convergence Divergence (MACD) for SMR just turned positive on October 28, 2026. Looking at past instances where SMR's MACD turned positive, the stock continued to rise in 34 of 42 cases over the following month. The odds of a continued upward trend are 81%.
SMR may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Bearish Trend Analysis
Following a 3-day decline, the stock is projected to fall further. Considering past instances where SMR declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 86%.
The Aroon Indicator for SMR entered a downward trend on November 04, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
The Tickeron PE Growth Rating for this company is 16 (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of 28 (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.021) is normal, around the industry mean (4.084). P/E Ratio (-2.332) is within average values for comparable stocks, (38.189). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (1.879). Dividend Yield (0.000) settles around the average of (0.032) among similar stocks. P/S Ratio (208.333) is also within normal values, averaging (186.943).
The Tickeron Price Growth Rating for this company is 90 (best 1 - 100 worst), indicating slightly worse than average price growth. SMR’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is 97 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is 100 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. SMR’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 74, placing this stock worse than average.
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