This article first appeared on GuruFocus.
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Loss from Operations: $139.3 million, primarily driven by payroll, general business expenses, and professional fees.
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Non-Cash Stock-Based Compensation Expense: $41.8 million.
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Loss Before Income Taxes: $110.2 million, including interest and dividend income of $29.1 million.
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Cash Used in Operating Activities: $82.2 million, adjusted to $69.2 million after accounting for prepaid capital project expenses.
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Cash and Marketable Securities: $1.4 billion at the end of 2025.
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Additional Financing: $1.182 billion raised in early 2026, completing a $1.5 billion ATM program.
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Guidance for 2026 Cash Used in Operating Activities: Increased to $80 million to $100 million.
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Guidance for 2026 Cash Used in Investing Activities: Expected to range between $350 million and $450 million.
Release Date: March 17, 2026
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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Oklo Inc (NYSE:OKLO) transitioned from product development to active project deployment in 2025, marking a significant milestone.
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The company broke ground on its first Aurora powerhouse at Idaho National Laboratory and advanced key commercial partnerships, including a prepayment agreement with Meta for a 1.2 gigawatt power campus.
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Oklo Inc (NYSE:OKLO) completed the acquisition of Atomic Alchemy and made substantial construction progress at Groves in Texas, its first radioisotope test reactor.
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The company announced the first phase of its advanced fuel center in Tennessee and progressed licensing activities across multiple assets.
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Oklo Inc (NYSE:OKLO) ended 2025 with cash and marketable securities of $1.4 billion and raised an additional $1.182 billion in early 2026, providing a strong financial position.
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Oklo Inc (NYSE:OKLO) reported a loss from operations of $139.3 million in 2025, primarily driven by payroll, general business expenses, and professional fees.
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The company’s operating loss included a non-cash stock-based compensation expense of $41.8 million, impacted by an increase in the firm’s share price.
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The timeline for the Aurora INL project has shifted slightly, with nuclear heat production now expected in 2028.
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Oklo Inc (NYSE:OKLO) faces challenges in balancing cost and timeline for its projects, which could impact future capital expenditures.
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The company is still working on securing sufficient fuel for its 75-megawatt reactor at Idaho National Laboratory.
Q: Can you provide an update on the commercialization progress and customer pipeline, particularly any new agreements or visibility into 2026? A: R. Craig Bealmear, CFO: Meta is a significant anchor customer, and we continue discussions with them and other potential customers, including the U.S. military and industrial clients. Having Meta as a lead customer helps attract others, creating a powerful dynamic for growth. Jacob DeWitte, CEO: The pipeline is healthy and growing, with Meta’s involvement encouraging others to follow. Our strategy in Ohio is expected to scale with these opportunities.
Q: Regarding the CapEx guidance of $350 million to $450 million for 2026, can you break down the allocation and discuss the cadence into 2027? A: R. Craig Bealmear, CFO: While specific project breakdowns are not provided, the Idaho project is a significant part of the spend. Preliminary work is also underway in Ohio for Meta powerhouses, recycling projects in Tennessee, and isotope projects. We expect CapEx levels to continue as multiple projects progress across all business units.
Q: Can you update us on the regulatory strategy, particularly the timing of COLA and PDC topical report review, and any impacts from government shutdowns? A: Jacob DeWitte, CEO: DOE authorization allows us to build and learn faster, with the NRC expected to issue a framework for converting DOE-authorized facilities to NRC-licensed ones. The executive orders are driving regulatory developments that will bridge DOE and NRC pathways. The government shutdown caused some delays, but we now have an NRC license for the Idaho Radiochemistry Laboratory.
Q: What are the benefits of your sodium-cooled reactor design, and why might Meta have chosen it? A: Jacob DeWitte, CEO: Our sodium-cooled reactor technology offers technical maturity, cost benefits, and strong operational history. It uses commonly available materials, operates at higher temperatures, and has passive heat rejection features. These factors, along with high technology readiness, likely influenced Meta’s decision.
Q: Can you discuss the timing and CapEx requirements for the Aurora INL project and the significance of the fast-spectrum plutonium criticality experiment? A: R. Craig Bealmear, CFO: We are targeting a 2028 timeline for Aurora INL, balancing cost and timeline considerations. Jacob DeWitte, CEO: The plutonium experiment, conducted with Los Alamos National Laboratory, provided valuable data for reactor performance and model validation, enhancing our understanding of fast reactor dynamics.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
