The following is a summary of the NuScale Power Corporation (SMR) Q2 2024 Earnings Call Transcript:

Financial Performance:

• NuScale reported a revenue of $1 million in Q2 2024, a decrease from $5.8 million in the same quarter of the previous year.

• The company experienced a net loss of $74.4 million for the quarter, which includes a non-cash expense of $36.7 million due to an increase in the fair value of warrants outstanding.

• Operating loss decreased from $56.1 million in Q2 2023 to $41.9 million in Q2 2024, reflecting effective expense management.

Business Progress:

• NuScale is intensifying efforts to deploy its SMR modules, notably advancing with the Romanian RoPower project into Phase 2 FEED.

• Formed strategic partnerships with ENTRA1 Energy to target global deployment and the lucrative data centers market, emphasizing bespoke business models for energy supply.

• Highlighted a strong pipeline of projects with significant engagement in areas such as industrial electrification and the provision of decarbonized baseload energy, showcasing preparedness in regulatory, siting, and manufacturing dimensions.

Opportunities:

• Expansion into strategic markets such as the data center sector, which is expected to experience a compound annual growth rate of 15% in power demand through 2030, due to growth in AI and cloud services.

• Potential to utilize changes in regulatory environments, such as those enabled by the Bipartisan Advance Act, to streamline the SMR licensing process and access new funding opportunities.

• The global increase in demand for clean and reliable energy offers significant deployment opportunities for NuScale's SMR technology beyond the U.S., particularly in Europe and Asia.

Risks:

• The gradual demand growth for AI services could impact the pace at which data centers adopt SMR technology.

• Competition from other nuclear and non-nuclear technologies in the advanced energy supply sector, particularly as data centers explore different options to meet their energy requirements efficiently.

More details: NuScale Power IR

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