NuScale Power Corporation (SMR) Income Statement
SMR 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsSMR revenue and net income
Where SMR's revenue goes
2025Each bar shows an amount and its share of revenue. SMR kept −1,130.3% of revenue as net income.
SMR profit margins
SMR growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −15.0% | +38.7% | +120.8% | — |
| Gross profit | −64.4% | +36.6% | +115.7% | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
SMR quarterly EPS vs estimates
NuScale Power beat the analyst EPS estimate in 3 of the last 8 quarters. Next report: November 5, 2026 (estimate $-0.11).
SMR income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2014 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $31.5M | $37.0M | $22.8M | $11.8M | $2.9M | $600,000 | $373,000 | $0 |
| Cost of revenue | $20.0M | $4.9M | $19.0M | $7.3M | $1.8M | $355,000 | $321,000 | — |
| Gross profit | $11.4M | $32.1M | $3.8M | $4.5M | $1.1M | $245,000 | $52,000 | — |
| Research & development | $45.5M | $46.8M | $156.1M | $127.7M | $94.4M | $95.3M | $62.6M | — |
| Sales, general & admin | $113.3M | $83.0M | $75.1M | $60.9M | $41.9M | $37.2M | $38.8M | — |
| Total operating expenses | $701.0M | $170.8M | $279.4M | $234.5M | $175.4M | $159.1M | $127.7M | $707 |
| Operating income | −$689.6M | −$138.7M | −$275.6M | −$230.0M | −$174.3M | −$158.8M | −$127.6M | −$710 |
| Interest income | $25.3M | $8.4M | $10.8M | $16.1M | $1.7M | $653,000 | $172,000 | — |
| Interest expense | — | — | $10.8M | $3.9M | $1.7M | $653,000 | $172,000 | — |
| Income before taxes | −$664.1M | −$346.5M | −$180.1M | −$141.6M | −$102.5M | −$88.4M | −$71.1M | −$707 |
| Income taxes | $342,000 | $1.9M | −$121.8M | −$115.7M | $1.7M | $71.8M | $56.9M | — |
| Net income | −$355.8M | −$136.6M | −$58.4M | −$57.1M | −$102.5M | −$88.4M | −$71.1M | −$707 |
| EBITDA | −$662.9M | −$133.6M | −$177.6M | −$138.9M | −$98.6M | −$156.8M | −$125.0M | −$710 |
| EPS (diluted) | −$2.89 | −$1.47 | −$0.80 | −$0.65 | −$0.26 | −$0.45 | — | — |
| Gross margin | 36.3% | 86.7% | 16.9% | 38.0% | 38.2% | 40.8% | 13.9% | — |
| Operating margin | −2,190.6% | −374.5% | −1,208.1% | −1,948.4% | −6,090.1% | −26,473.8% | −34,218.2% | — |
| Net margin | −1,130.3% | −368.8% | −255.9% | −483.5% | −3,581.2% | −14,731.2% | −19,063.5% | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $75,000 | $565,000 | $1.8M | $8.2M | $8.1M | $13.4M | $34.2M | $475,000 | $967,000 | $1.4M | $4.6M | $7.0M |
| Cost of revenue | $227,000 | $809,000 | $1.9M | $5.5M | $6.3M | $6.4M | $3.1M | $295,000 | $850,000 | $735,000 | $3.8M | $5.9M |
| Gross profit | −$152,000 | −$244,000 | −$60,999 | $2.7M | $1.8M | $7.0M | $31.2M | $180,000 | $117,000 | $644,000 | $720,000 | $1.0M |
| Research & development | $18.4M | $12.8M | $13.5M | $11.1M | $11.8M | $9.1M | $9.4M | $12.2M | $12.1M | $13.2M | $37.8M | $63.7M |
| Sales, general & admin | $26.9M | $24.8M | $43.3M | $519.2M | $22.5M | $25.8M | $24.8M | $18.9M | $18.7M | $20.1M | $20.5M | $18.9M |
| Total operating expenses | $63.9M | $57.3M | $72.7M | $541.1M | $44.9M | $42.3M | $43.0M | $41.2M | $42.0M | $44.6M | $71.8M | $93.9M |
| Operating income | −$64.0M | −$57.5M | −$72.7M | −$538.4M | −$43.1M | −$35.3M | −$11.9M | −$41.0M | −$41.9M | −$44.0M | −$71.1M | −$92.9M |
| Interest income | — | $10.8M | $8.9M | $5.8M | $5.5M | $5.2M | $3.1M | $2.0M | $1.7M | $1.5M | — | $2.7M |
| Interest expense | — | — | — | — | — | — | — | — | — | — | $2.1M | $2.7M |
| Income before taxes | −$50.1M | −$46.7M | −$63.8M | −$532.6M | −$37.6M | −$30.1M | −$178.4M | −$45.5M | −$74.4M | −$48.1M | −$56.4M | −$58.3M |
| Income taxes | — | −$2.7M | −$308.7M | — | −$20.0M | $342,000 | $1.9M | $12,000 | −$46.8M | −$31.5M | −$37.7M | −$39.2M |
| Net income | −$47.5M | −$44.0M | −$50.8M | −$273.3M | −$17.6M | −$14.0M | −$75.0M | −$17.5M | −$27.6M | −$16.6M | −$18.8M | −$19.1M |
| EBITDA | −$49.7M | −$46.4M | −$63.5M | −$532.4M | −$37.3M | −$29.7M | −$8.2M | −$45.1M | −$74.0M | −$40.2M | −$55.8M | −$57.6M |
| EPS (diluted) | −$0.13 | −$0.14 | −$0.80 | −$1.85 | −$0.13 | −$0.11 | −$0.77 | −$0.18 | −$0.31 | −$0.21 | −$0.25 | −$0.26 |
| Gross margin | −202.7% | −43.2% | −3.4% | 32.9% | 22.1% | 52.4% | 91.1% | 37.9% | 12.1% | 46.7% | 15.8% | 14.5% |
| Operating margin | −85,337.3% | −10,181.2% | −4,022.2% | −6,532.9% | −534.9% | −264.1% | −34.6% | −8,635.6% | −4,330.7% | −3,188.8% | −1,558.2% | −1,336.9% |
| Net margin | −63,385.3% | −7,790.3% | −2,811.3% | −3,316.2% | −219.0% | −104.7% | −219.1% | −3,675.6% | −2,855.9% | −1,201.7% | −411.3% | −275.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in SMR's financial statements (latest annual report filed February 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
SMR financial results
In fiscal year 2025 (ended December 31, 2025), NuScale Power reported revenue of $31.5 million, down 15.0% from the year before. It had a net loss of $355.8 million, a net profit margin of −1,130.3%. Diluted earnings per share came to −$2.89. Over five years revenue grew at an average rate of 120.8% a year.
See the SMR stock overview for the latest quote and news, or the SMR chart for price history and technical indicators.
SMR income statement FAQ
What is NuScale Power's annual revenue?
NuScale Power reported total revenue of $31.5 million for fiscal year 2025, which ended on December 31, 2025. That was down 15.0% from $37.0 million the previous year.
Is NuScale Power profitable?
No. NuScale Power reported a net loss of $355.8 million in fiscal 2025, a net profit margin of −1,130.3%; its operating margin was −2,190.6%.
What is NuScale Power's gross margin?
NuScale Power's gross margin was 36.3% in fiscal 2025: for every $100 of revenue, NuScale Power kept $36 after the direct cost of its products and services.
How much does NuScale Power spend on research and development?
NuScale Power spent $45.5 million on research and development in fiscal 2025, 144.6% of revenue.
How fast is NuScale Power growing?
Revenue grew 120.8% a year on average over the last five fiscal years, from $0.6 million to $31.5 million.
What are NuScale Power's earnings per share?
NuScale Power earned $-2.89 per diluted share in fiscal 2025, compared with $-1.47 a year earlier.
When will NuScale Power report its next earnings?
NuScale Power is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 after the market closes.
When does NuScale Power's fiscal year end?
NuScale Power's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 26, 2026.