Oklo (NYSE:OKLO) shares fell in early trade on Tuesday after the Santa Clara, California-based nuclear energy company reported widening losses and warned of additional losses ahead.
The company reported a year-over-year increase in losses, with a loss per share of $0.74, compared to a loss per share of $0.47 in 2023.
Its full-year loss from operations was $52.8 million, above guidance of $40 million to $50 million. Its net loss was $73.6 million.
Oklo posted a loss per share of $0.07, compared to estimates of a loss per share of $0.06 for Q4.
The company exited 2024 with $275.3 million in cash, cash equivalents and marketable securities.
Management said on its earnings call that it expects to start generating revenue as early as the first quarter of 2026.
Further, the company announced that its Aurora fast reactors can now generate 15 MW to 75 MW of power, up from the prior range of 15 MW to 50 MW.
“As the only company with both a site use permit and secured fuel for our first deployment, Oklo remains on track to deliver commercial power by the end of 2027, backed by a strong and growing customer pipeline,” Oklo CEO Jacob DeWitte said in a statement.
'Strong position' in nuclear
Analysts at Wedbush remain bullish on Oklo, repeating their ‘Outperform’ rating and $45 price target post-earnings.
Shares of Oklo traded down 3.3% at about $30 shortly after Tuesday’s opening bell in New York.
“While the company is still in the pre-revenue stage, we believe the company is taking a strategic approach to successfully capitalizing on accelerating market demand for nuclear energy solutions as OKLO looks to create a sustainable supply chain for nuclear energy,” Wedbush wrote.
“With over 14 Gigawatts of capacity within the Oklo pipeline, Oklo maintains a strong position within the advanced nuclear fuel cycle as the company aims to capitalize on the massive push for nuclear energy solutions across the federal and commercial landscapes with the AI Revolution accelerating and in the early stages of playing out.”
Citi analysts view Oklo’s report as “modestly negative,” awarding it a ‘Neutral’ rating and a $30 price target.
“While deployment is on-track, larger near-term cash requirements and increased likelihood of outside capital before the first reactor commissioning will likely weigh on the stock,” they wrote.