The following is a summary of the NuScale Power Corporation (SMR) Q3 2024 Earnings Call Transcript:

Financial Performance:

• NuScale reported a Q3 2024 revenue of $0.5 million, a significant decrease from $7 million in Q3 2023.

• The company posted a net loss of $45.5 million, an improvement from a $58.3 million loss in the prior year due to reduced operating expenses, which fell to $41.2 million from $93.9 million.

• NuScale has a strengthened cash position with $161.7 million, supported by disciplined budgeting and cost optimization.

Business Progress:

• NuScale's technology is recognized globally for contributing to climate solutions and energy security, with interest from East and Southeast Asia, Eastern Europe, the Middle East, and Africa.

• The company has initiated the RoPower project's Phase 2 Front-End Engineering and Design with its partner, Fluor Corporation.

• NuScale is advancing in discussions and deployments with significant infrastructure partners and financial institutions.

Opportunities:

• The increasing demand for carbon-free power from data centers requiring reliable energy is a crucial opportunity for NuScale's SMR technology.

• NuScale is positioned to meet significant upcoming U.S. domestic policy initiatives that promote carbon neutrality, leveraging the Inflation Reduction Act and Chips and Science Act.

Risks:

• There's a substantial risk involved in the lengthy regulatory and commercial processes required to finalize agreements and begin operations of modular nuclear reactors.

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