Short answer
Nano Nuclear Energy Inc. (NNE) filed its fiscal 2025 10-K annual report with the SEC on Dec 18, 2025. It reported revenue of $84,000 (+1100.0% year over year) and net income of −$40M.
- Top risk flagged: Securities class action lawsuit filed Aug 9, 2024, alleging violations of Securities Exchange Act of 1934 Sections 10(b) and 20(a)
FY2025 key financial metrics · XBRL
- Revenue
- $84,000
- +1100.0% YoY
- Net income
- −$40M
- −294.7% YoY
- EPS (diluted)
- −$1.06
- −171.8% YoY
- ROE
- -18.0%
- +14.1 pp YoY
- Operating cash flow
- −$20M
- −131.8% YoY
Source: XBRL data from the Nano Nuclear Energy Inc. (NNE) FY2025 10-K on SEC EDGAR. USD.
Nano Nuclear Energy Inc. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Design and development of mobile, deployable nuclear microreactors and advanced nuclear fuel processing and transportation
- Acquisitions and new subsidiaries: Acquired Global First Power Ltd. (renamed True North Nuclear Ltd.), plus launched subsidiaries Kronos MMR, Loki MMR, and Nano Nuclear Space in 2024-2025
- Strategic expansion: Purchased land/buildings in Oak Ridge TN ($1.7M), Oak Brook IL ($3.5M), plus leased demonstration facility in Westchester NY for assembling/testing microreactor components
- Workforce growth: 31% increase in R&D staff and 48% increase in business operations personnel in 2025 versus 2024; total 62 employees as of year-end
- Unique initiative: Development of a commercial HALEU fuel processing facility and government-licensed high-capacity HALEU transportation system via subsidiaries
Management Discussion & Analysis
- No revenue to date and net losses of $57.5M through FY2025 vs $17.4M in FY2024
- R&D expenses $15.4M up 315% YoY from $3.7M driven by microreactor development and equity-based comp
- G&A expenses $29.6M up 332% YoY from $6.9M, including $13.2M equity compensation and $4.3M professional fees
- Cash and cash equivalents $203M as of Sept 30, 2025 vs $29M prior year; $378.6M raised in Oct 2025 private placement
- Management guidance expects ~$65M 2026 expenditures on R&D, fuel processing, and operations; commercial readiness early 2030s with regulatory and timeline risks
Risk Factors
- Securities class action lawsuit filed Aug 9, 2024, alleging violations of Securities Exchange Act of 1934 Sections 10(b) and 20(a)
- Significant capital expenditure of approximately $65 million planned for the next 12 months, including $43 million for R&D and licensing
- Dependency on NRC approval for KRONOS microreactor construction permit application filing in 2026 and commercial launch by 2030
- Supply chain risk from collaboration with related party LIST on laser uranium enrichment technology with uncertain commercial viability
- Accumulated deficit of $57.5 million as of Sept 30, 2025, with ongoing operating losses and negative cash flow requiring substantial additional financing
Generated from the filing text; verify against the original. How to read a 10-K
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