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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