Oklo Inc. (OKLO) FY2025 10-K Annual Report

Filed: Mar 17, 2026
Utilities
Electric ServicesSEC EDGAR

Oklo Inc. (OKLO) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Mar 17, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.

Oklo Inc. FY2025 10-K Analysis

Business Overview

  • Core business: development and deployment of advanced nuclear powerhouses and recycling technologies for low-carbon energy production
  • New emphasis on DOE cost-share recycling projects via ARPA-E and Technology Commercialization Fund with partial expense reimbursements
  • Strategic scale-up with workforce growth: R&D headcount up ~68 and G&A up ~53 employees YoY to support facility and radioisotope expansions
  • Operating expenses surged: R&D +120.3% to $58.9M, G&A +208.3% to $80.4M driven by compensation and professional services increases
  • Liquidity boost: cash, equivalents, marketable securities rose to $1.41B fueled by $1.26B financing proceeds, supporting aggressive capital investments

Management Discussion & Analysis

  • No revenue figures or YoY changes disclosed in provided text
  • No profitability or margin data included in excerpt
  • No segment performance details available
  • No information on cash flow, buybacks, dividends, or capex disclosed
  • Forward-looking statements mentioned; caution on assumptions and projections

Risk Factors

  • SEC registration statements Nos. 333-287715 and 333-291157 covering share offerings with net proceeds up to $526.1M and $294.3M in 2025
  • Market debut on NYSE May 10, 2024 with only ~35 record holders as of March 13, 2026 indicating low retail shareholder base
  • ATM programs sold 3.4M shares at $88.29 average in Dec 2025, exposing market price to volatility during fundraising
  • Stock repurchase via limited tax withholding of 463 shares at $111.63 average in Nov 2025, no formal buyback plan disclosed
  • Dividend policy: no cash dividends, earnings retained for growth, risking shareholder returns expectations

Oklo Inc. FY2025 Key Financial Metrics
XBRL

Net Income

-$106M

-43.5% YoY

ROE

-7.2%

+2219bp YoY

Total Assets

$1.5B

+442.5% YoY

EPS (Diluted)

$-0.72

+2.7% YoY

Operating Cash Flow

-$82M

-114.1% YoY

Source: XBRL data from Oklo Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.

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