Oklo’s first-quarter net loss deepened as spending rose on development projects, despite $2.5 billion in cash reserves.
Oklo (NYSE:OKLO) shares declined 6% after reporting a first-quarter net loss of $33.1 million, wider than the $17.9 million loss a year earlier. The company attributed the loss to increased spending on its Aurora powerhouse program and infrastructure projects, with operating losses reaching $51.2 million.
Revenue remained at zero as Oklo remains pre-revenue, though its non-GAAP loss of $0.19 per share matched analyst expectations. Net interest and dividend income of $21.3 million partially offset losses. Cash and marketable securities totaled $2.5 billion as of March 31, bolstered by a $1.2 billion equity offering during the quarter.
The company noted progress in its development portfolio, including early construction completion for its 3F program and ongoing regulatory reviews for its Fuel Recycling Facility.