NuScale Power reports a 96% year-over-year revenue drop in Q1 2026 due to the absence of prior-period one-time payments.
NuScale Power Corporation (NYSE:SMR) reported Q1 2026 revenue of $565,000, down sharply from $13.4 million in Q1 2025. The decline stems from a $7.3 million one-time payment and engineering fees recognized in the prior-year period, which did not recur in Q1 2026.
The company attributed the revenue drop to the conclusion of a technology license agreement with its Romanian partner RoPower and the completion of Fluor’s FEED Phase 2 work in late 2025. Net loss per share widened to $0.14 from $0.11, while total operating losses increased to $57.5 million from $35.3 million, driven by higher R&D, G&A, and internal project costs.
Management noted that rising operating expenses reflect increased commercial activity and headcount, though investment income partially offset losses.