NuScale Power (NYSE:SMR) Boosts Sales to US$37M Despite US$137M Net Loss in 2024

NuScale Power (NYSE:SMR) reported a significant year-over-year increase in sales for 2024 to USD 37 million, up from USD 23 million in 2023. However, the company's financial health was overshadowed by a substantial rise in net losses, jumping from USD 58 million to USD 137 million, along with a basic loss per share increasing to USD 1.47 from USD 0.80. This worsening financial position comes amid a broader market downturn, with the Dow Jones and S&P 500 experiencing a decline of 1.8% as investors assess tariff impacts. As bank shares led the S&P 500 sell-off and the tech-heavy Nasdaq Composite dropped 1.5%, NuScale's market performance became part of the broader narrative of volatility and economic uncertainty. Such conditions likely played a role in the company's recent share price decline of 16%, reflecting investor concerns about the company's operational challenges within a fluctuating market environment.

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Over the last year, NuScale Power's total shareholder return surged by 296.15%, far surpassing the US market's 15.3% return and the 1.3% return of the US Electrical industry. Several key developments contributed to this performance. Prominently, in December 2024, NuScale opened the Energy Exploration Center at The Ohio State University, aiming to advance nuclear workforce development—an initiative supported by the U.S. Department of Energy. Also, in November 2024, the company filed for a US$200 million equity offering. Despite high volatility in recent months, these strategic efforts possibly bolstered investor confidence.

Additionally, executive changes at NuScale could have played a role. At the start of 2025, Alan Boeckmann was appointed Non-Executive Chairman, which may have been viewed positively by the market due to his experience. Financially, NuScale's ongoing revenue growth forecasts, despite current unprofitability, may have reinforced long-term optimism among investors, supporting its impressive share return over the past year.

• See how NuScale Power measures up with our analysis of its intrinsic value versus market price.
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