NUSCALE POWER Corp (SMR) FY2025 10-K Annual Report
NUSCALE POWER Corp (SMR) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 26, 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.
NUSCALE POWER Corp FY2025 10-K Analysis
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
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
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
NUSCALE POWER Corp FY2025 Key Financial MetricsXBRL
Revenue
$31M
▼ -15.0% YoY
Net Income
-$356M
▼ -160.4% YoY
Gross Margin
36.3%
▼ -5036bp YoY
Operating Margin
-2190.6%
▼ -181610bp YoY
Net Margin
-1130.3%
▼ -76146bp YoY
ROE
-30.4%
▼ -836bp YoY
Total Assets
$1.4B
▲ +159.3% YoY
EPS (Diluted)
$-2.17
▼ -47.6% YoY
Operating Cash Flow
-$460M
▼ -323.0% YoY
Source: XBRL data from NUSCALE POWER Corp FY2025 10-K filing on SEC EDGAR. All figures in USD.
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