Oklo Stock Earnings Reports

Oklo reported material operational progress across its three verticals—power, fuel and isotopes—and emphasized a shift from strategy to execution. Key technical and regulatory milestones include: submission of Aurora-INL’s Preliminary Documented Safety Analysis (PDSA) to DOE; NRC approval of the Principal Design Criteria topical report; Groves test reactor construction completed (certificate of substantial completion) and targeting criticality by July 4, 2026; Idaho Radiochemistry Laboratory licensed and pursuing first commercial isotope contract in 2026; A3F fuel fabrication facility progressing (NSDA and PDSA approvals) and Tennessee Advanced Fuel Center continuing site prep and NRC application readiness review. Oklo highlighted multiple fuel-pathway options—commercial HALEU, government plutonium as a bridge fuel (noting ~20 tons of plutonium ≈ 160–200 tons HALEU equivalent), and future recycling—plus collaborations with Centrus, LANL, NVIDIA and INL to accelerate fuel validation and AI-enabled design. Regulatory environment tailwinds: NRC modernization (Part 53) and proposed Part 57 (fleet-based, risk-informed pathway) that could materially shorten licensing timelines and aid repeatable deployments. Commercially, Oklo continues to advance Aurora-Ohio (Meta 1.2 GW campus PJM interconnection filed), Aurora-Eielson (cogeneration project for Eielson AFB), and customer pipeline across data centers, industrials, government and utilities. Financial highlights: Q1 net loss $33.1M (loss from operations $51.2M, offset by $21.3M net interest/dividend income), Q1 cash used in operating activities $17.9M, investing activities $359M (includes $321.2M purchases of marketable securities following ATM program close and $32.8M capex). Full-year 2026 guidance reiterated: cash used in operating activities $80M–$100M and capex/deployments $350M–$450M. Ended Q1 with $2.5B in cash and marketable securities ($1.6B cash & equivalents, $0.9B marketable securities) after raising ~$1.2B via ATM. Management emphasized that DOE-authorized builds will inform future NRC licensing and that Oklo is positioned to scale via integrated fuel/power/isotope capabilities.