SMR at a glance
NUSCALE POWER Corp (SMR, SEC CIK 1822966) filed its latest 10-K annual report on February 26, 2026, a 10-Q quarterly report on August 5, 2026, an 8-K current report on August 11, 2026 and Form 4 insider filings as recently as October 5, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), NUSCALE POWER Corp (SMR) reported revenue of $31.5 million (down 15.0% from FY2024) and a net loss of $355.8 million. Diluted EPS was -$2.17.
- As of June 30, 2026, 33 institutional investment managers tracked by SignalX reported holding NUSCALE POWER Corp (SMR) shares worth $1.1 billion in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by Hamady Robert Ramsey on October 1, 2026 of 20,000 shares at $7.89 per share.
- In the last 90 days, SMR insiders reported 0 open-market purchases ($0) and 6 open-market sales ($981K) on Form 4, a net sale of $981K.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $31.5M
- −15.0% vs prior year
- Insiders · 90 days
- 0 buys · 6 sells
- Net −$981K
- 13F holders
- 33 funds
- $1.1B · −1 vs prior quarter
- Latest 8-K
- Aug 11, 2026
- Item 1.01
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business model: Development and commercialization of NuScale Power Module™ (NPM) small modular reactors (SMRs) for safe, scalable, carbon-free nuclear power
- New emphasis on 6-unit 77 MWe NPM design with NRC second Standard Design Approval in May 2025, enabling expedited licensing and construction
- Strategic shift toward expanding commercialization partnerships, notably exclusive global partner ENTRA1 negotiating deployment of up to six 12-module plants with TVA
- Notable metric: Over $1.8 billion invested since 2007 in NuScale technology, with 513 patents granted and 268 pending globally
- Unique safety design enables unlimited coping period without operator intervention or backup power, and NRC approval for site-boundary emergency planning zone
Risk Factors
- Regulatory risk: Nuclear Regulatory Commission (NRC) approval delays for initial SMR design certification and construction permits may postpone NPM deployment beyond 2031
- Geopolitical risk: Competition from Russian Rosatom and China National Nuclear Corporation operating commercial SMRs, with potential advantages in funding and market access
- Operational risk: Manufacturing scale-up challenges and previous delays in NPM design and production threaten timely and quality delivery of NPMs
- Market disruption risk: Emergence of alternative reactor technologies (e.g., molten salt, fusion reactors) and advanced reactors with NRC approvals may undercut NuScale’s technology adoption
- Financial risk: $365 million estimated accelerated payment under Tax Receivable Agreement upon change of control could impair liquidity and attractiveness for acquisition
Management Discussion & Analysis
- Revenue $31.5M in 2025, down from $37.0M in 2024, decrease mainly from lower RoPower licensing fees offset by higher Fluor FEED Phase 2 services
- Operating loss expanded to $689.6M in 2025 from $138.7M in 2024; G&A expenses surged to $609.8M from $75.9M mainly due to $507.4M Milestone Contribution 1
- Best segment: Engineering and licensing services grew with international RoPower project support; worst segment: General and Administrative with massive cost jump
- Operating cash used $459.6M in 2025 vs $108.7M in 2024; financing activities raised $1.31B via ATM equity sales; capex minimal, investing used $411.3M in portfolio investments
- Management optimistic on commercialization with NRC approvals, PMA milestone triggers, strong cash position of $836M and $451M liquid investments; risks include regulatory approvals and competition
AI summary of the SMR 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Q2 revenue $75,000 vs $8.054M YoY, down $8.0M after Fluor FEED Phase 2 completion
- Gross margin negative $152,000 vs $1.781M, equivalent to -202.7% vs 22.1% YoY
- Q2 net loss $50.063M vs $37.609M; operating loss $64.003M vs $43.082M
- Cash $766.5M, short-term investments $305.7M, investments $820.8M, no debt
- Operating cash used $372.860M, including $259.9M paid to ENTRA1; ATM raised $984.5M net
- Outlook: RoPower financing required before pre-EPC work; company expects sufficient liquidity for 12 months and beyond
Risk Factors
- No material changes to 2025 10-K risk factors
- Regulatory risk unchanged from 2025 Annual Report
- Operational and competitive risks carried forward without quarterly updates
- Financial risks carried forward without quarterly updates
- CTO Jose Reyes adopted Rule 10b5-1 arrangement on May 12, 2026 for RSU tax-withholding sales
AI summary of the SMR 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 1.01: Entry into a Material Definitive Agreement
- $750 million at-the-market equity program, enabling flexible capital raises at NuScale’s discretion
- Potential shareholder dilution from future Class A common-stock issuance
Item 2.02: Results of Operations and Financial Condition
- Q2 2026 results for quarter ended June 30, 2026
- Press release attached as Exhibit 99.1; financial figures and management commentary require exhibit review
Item 5.07: Submission of Matters to a Vote of Security Holders
- All nine director nominees elected, with strongest support for Dale Klein at 114,602,209 votes
- Stuart Harshaw and Kimberly O. Warnica faced notable withheld votes, totaling 32,132,843 and 36,909,622
AI summaries of SMR 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for SMR
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Hamady Robert Ramsey | M | Oct 1, 2026 | 20,000 | $3.20 |
| Hamady Robert Ramsey | M | Oct 1, 2026 | 20,000 | $3.20 |
| Hamady Robert Ramsey | Sell | Oct 1, 2026 | 20,000 | $7.89 |
| BOECKMANN ALAN L | A | Sep 30, 2026 | 4,509 | - |
| KRESA KENT | A | Sep 30, 2026 | 3,338 | - |
| Hamady Robert Ramsey | Sell | Aug 27, 2026 | 29,880 | $9.39 |
| Hamady Robert Ramsey | M | Aug 26, 2026 | 76,923 | - |
| Hamady Robert Ramsey | M | Aug 26, 2026 | 76,923 | - |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | - | $37.0M | $31.5M |
| Gross Profit | - | $32.1M | $11.4M |
| Operating Income | - | -$138.7M | -$689.6M |
| Net Income | - | -$136.6M | -$355.8M |
| Gross Margin | - | 86.7% | 36.3% |
| Op. Margin | - | -374.5% | -2190.6% |
| Net Margin | - | -368.8% | -1130.3% |
| Balance Sheet | |||
| Total Assets | $224.9M | $544.7M | $1.4B |
| Equity | $93.5M | $618.7M | $1.2B |
| ROE | - | -22.1% | -30.4% |
| Per Share | |||
| EPS | - | $-1.47 | $-2.17 |
| Cash Flow | |||
| Operating CF | - | -$108.7M | -$459.6M |
| CapEx | - | $44K | $508K |
Source: XBRL data in NUSCALE POWER Corp (SMR)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate SMR share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 33 | $1.11B |
| Q1 2026 | 34 | $834.4M |
| Q4 2025 | 28 | $838.0M |
| Q3 2025 | 32 | $1.89B |
| Q2 2025 | 31 | $1.89B |
| Q1 2025 | 22 | $363.0M |
| Q4 2024 | 17 | $379.6M |
| Q3 2024 | 15 | $80.9M |
- BlackRock+13.01M (+101%)
- Two Sigma Investments+7.93M (+213%)
- Vanguard Portfolio Management LLC+4.20M (+38%)
- Marex Group plc+3.61M (+40%)
- Vanguard Capital Management LLC+3.35M (+31%)
- Bank of America Corp−866.7K (-42%)
- Millennium Management−654.7K (-47%)
- Citadel Advisors LLC−361.7K (-24%)
- JPMorgan Chase & Co−190.8K (-45%)
- FMR LLC (Fidelity)−185.7K (-79%)
- Allstate+27.3K
- StoneX Group Inc.+12.2K
- Renaissance Technologies LLC−5.46M
- Soros Fund Management−70.4K
- Franklin Resources−21.4K
Source: 13F-HR filings on SEC EDGAR (aggregated from 212 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
SMR filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Oct 5, 2026 | - | - | - |
| 4 | Oct 2, 2026 | - | - | - |
| 4 | Oct 2, 2026 | - | - | - |
| 4 | Sep 11, 2026 | - | - | - |
| 4 | Aug 28, 2026 | - | - | - |
| 4 | Aug 20, 2026 | - | - | - |
| 4 | Aug 19, 2026 | - | - | - |
| 8-K | Aug 11, 2026 | - | Analysis | - |
| 4 | Aug 6, 2026 | - | - | - |
| 10-Q | Aug 5, 2026 | Jun 30, 2026 | Analysis | |
| 8-K | Aug 5, 2026 | - | Analysis | - |
| SC 13G | Jul 29, 2026 | - | - | |
| 4 | Jul 1, 2026 | - | - | - |
| 4 | Jul 1, 2026 | - | - | - |
| 4 | Jul 1, 2026 | - | - | - |
| 4 | Jun 2, 2026 | - | - | |
| 4 | Jun 2, 2026 | - | - | |
| 4 | Jun 2, 2026 | - | - | |
| 4 | Jun 2, 2026 | - | - | |
| 4 | Jun 2, 2026 | - | - | |
| 4 | Jun 2, 2026 | - | - | |
| 8-K | Jun 2, 2026 | - | Analysis | |
| 4 | Jun 2, 2026 | - | - | |
| 4 | Jun 2, 2026 | - | - | |
| SC 13G | May 15, 2026 | - | - |
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SMR SEC filings: frequently asked questions
Are SMR insiders buying or selling?
In the last 90 days, NUSCALE POWER Corp (SMR) officers, directors and 10% owners reported no open-market purchases and 6 open-market sales worth $981,127 by 3 insiders on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold SMR stock?
As of June 30, 2026, the largest NUSCALE POWER Corp (SMR) holders among the 13F filers tracked by SignalX were BlackRock ($259.3 million), Vanguard Portfolio Management LLC ($152.0 million), Vanguard Capital Management LLC ($141.2 million), Marex Group plc ($127.5 million), Two Sigma Investments ($116.9 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was SMR's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), NUSCALE POWER Corp (SMR) reported revenue of $31.5 million (down 15.0% from FY2024) and a net loss of $355.8 million. Diluted EPS was -$2.17. The figures come from the XBRL data in the 10-K.
What are the main risks in SMR's latest 10-K?
In the 10-K filed February 26, 2026, NUSCALE POWER Corp (SMR) flagged: Regulatory risk: Nuclear Regulatory Commission (NRC) approval delays for initial SMR design certification and construction permits may postpone NPM deployment beyond 2031. Geopolitical risk: Competition from Russian Rosatom and China National Nuclear Corporation operating commercial SMRs, with potential advantages in funding and market access. (AI summary of the Risk Factors section.)
What did SMR report in its latest 8-K?
NUSCALE POWER Corp (SMR) filed an 8-K on August 11, 2026 reporting Item 1.01 (Entry into a Material Definitive Agreement). $750 million at-the-market equity program, enabling flexible capital raises at NuScale’s discretion.
What are the latest SMR SEC filings?
NUSCALE POWER Corp (SMR) filed its latest 10-K annual report on February 26, 2026, a 10-Q quarterly report on August 5, 2026, an 8-K current report on August 11, 2026 and a Form 4 insider filing on October 5, 2026.
What is SMR's SEC CIK number?
NUSCALE POWER Corp (SMR)'s SEC Central Index Key (CIK) is 1822966. EDGAR lists every SMR filing under that number.
Ask anything about SMR
The research agent reads SMR's filings, financials, insider trades and 13F holders, then answers with sources.