X-Energy, Inc. (XE) Income Statement
XE 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsXE revenue and net income
Where XE's revenue goes
2025Each bar shows an amount and its share of revenue. XE kept −357.3% of revenue as net income.
XE profit margins
XE growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +29.9% | +1.3% | — | — |
| Gross profit | — | — | — | — |
| 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.
XE quarterly EPS vs estimates
X-Energy beat the analyst EPS estimate in 0 of the last 2 quarters. Next report: November 12, 2026 (estimate $-0.21).
XE income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Revenue | $109.1M | $84.0M | $121.9M | $104.9M | $77.0M |
| Cost of revenue | $161.4M | $130.1M | $199.6M | $147.4M | $107.5M |
| Gross profit | −$52.3M | −$46.1M | −$77.7M | −$42.6M | −$30.5M |
| Research & development | $1.7M | $1.7M | $2.1M | $2.7M | $1.2M |
| Sales, general & admin | $154.3M | $111.9M | — | $57.6M | $29.0M |
| Total operating expenses | $118.0M | $77.4M | $59.7M | $60.3M | $30.3M |
| Operating income | −$170.3M | −$123.5M | −$137.4M | −$102.9M | −$60.8M |
| Interest income | $20.3M | $2.8M | — | $36,000 | $6,000 |
| Interest expense | $475,000 | $16.2M | $8.1M | $11.8M | $2.5M |
| Income before taxes | −$389.8M | −$126.0M | −$231.2M | −$122.2M | −$64.1M |
| Net income | −$389.8M | −$126.0M | −$231.2M | −$122.2M | −$64.1M |
| EBITDA | −$168.9M | −$108.9M | −$134.4M | −$110.3M | −$61.6M |
| EPS (diluted) | −$1.43 | −$7.37 | — | — | — |
| Gross margin | −47.9% | −54.9% | −63.8% | −40.6% | −39.7% |
| Operating margin | −156.1% | −147.1% | −112.7% | −98.1% | −79.0% |
| Net margin | −357.3% | −150.0% | −189.7% | −116.5% | −83.2% |
| Jun '26 | Mar '26 | Dec '25 | Jun '25 | Mar '25 | Dec '24 | |
|---|---|---|---|---|---|---|
| Revenue | $54.6M | $43.4M | $33.8M | $16.9M | $17.1M | $23.7M |
| Cost of revenue | $87.3M | $65.4M | $57.7M | $36.1M | $28.7M | $31.2M |
| Gross profit | −$32.7M | −$21.9M | −$23.8M | −$19.2M | −$11.6M | −$7.5M |
| Research & development | $244,000 | $55,000 | $332,000 | $808,000 | $402,000 | $698,000 |
| Sales, general & admin | $77.7M | $44.1M | — | $27.3M | $18.0M | — |
| Total operating expenses | $77.3M | $44.2M | $36.7M | $23.6M | $14.7M | $61.6M |
| Operating income | −$110.0M | −$66.1M | −$60.5M | −$42.8M | −$26.3M | −$69.1M |
| Interest income | $11.0M | $8.9M | — | $5.0M | $5.5M | — |
| Interest expense | $0 | $0 | — | $360,000 | $124,000 | — |
| Income before taxes | −$105.3M | −$166.2M | −$71.7M | −$88.8M | −$10.2M | −$47.2M |
| Net income | −$59.1M | −$166.2M | −$71.7M | $0 | −$10.2M | −$47.2M |
| EBITDA | −$109.4M | −$65.7M | −$59.6M | −$42.5M | −$9.9M | −$13.6M |
| EPS (diluted) | −$0.15 | −$0.41 | — | — | — | — |
| Gross margin | −59.9% | −50.5% | −70.4% | −113.5% | −68.1% | −31.8% |
| Operating margin | −201.5% | −152.2% | −178.8% | −252.9% | −153.9% | −291.9% |
| Net margin | −108.2% | −382.8% | −211.8% | 0.0% | −59.8% | −199.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in XE's financial statements (latest annual report filed December 31, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
XE financial results
In fiscal year 2025 (ended December 31, 2025), X-Energy reported revenue of $109.1 million, up 29.9% from the year before. It had a net loss of $389.8 million, a net profit margin of −357.3%. Diluted earnings per share came to −$1.43.
See the XE stock overview for the latest quote and news, or the XE chart for price history and technical indicators.
XE income statement FAQ
What is X-Energy's annual revenue?
X-Energy reported total revenue of $109.1 million for fiscal year 2025, which ended on December 31, 2025. That was up 29.9% from $84.0 million the previous year.
Is X-Energy profitable?
No. X-Energy reported a net loss of $389.8 million in fiscal 2025, a net profit margin of −357.3%; its operating margin was −156.1%.
What is X-Energy's gross margin?
X-Energy's gross margin was −47.9% in fiscal 2025: for every $100 of revenue, X-Energy kept $-48 after the direct cost of its products and services.
How much does X-Energy spend on research and development?
X-Energy spent $1.7 million on research and development in fiscal 2025, 1.6% of revenue.
What are X-Energy's earnings per share?
X-Energy earned $-1.43 per diluted share in fiscal 2025, compared with $-7.37 a year earlier.
When will X-Energy report its next earnings?
X-Energy is expected to report results for the quarter ending September 30, 2026 on November 12, 2026.
When does X-Energy's fiscal year end?
X-Energy's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on December 31, 2025.