Oklo reported Q2 revenue of $1.2 million, surpassing estimates, while its net loss widened to $48.5 million from $24.7 million a year ago.
Oklo (NYSE:OKLO) shares climbed 7% after reporting second-quarter revenue of $1.2 million, far exceeding the $83,800 estimate. The company posted a loss per share of $0.28, wider than the $0.16 consensus forecast.
The net loss for the quarter expanded to $48.5 million from $24.7 million in the same period last year. Oklo attributed the increased loss to higher research, development, and operating expenses as it scales operations. Year-to-date, the net loss reached $81.6 million.
Oklo ended the quarter with $3 billion in cash and marketable securities, up $1.9 billion from the start of the year following ATM offerings. Cash used in operating activities totaled $65.5 million for Q2.