Oklo (NYSE:OKLO), an advanced nuclear technology company, reported its fourth quarter and full-year 2025 financial results, reflecting continued investments in development and infrastructure.
The pre-revenue firm reported a loss per share of $0.27, wider than analysts’ estimates of a loss per share of $0.17.
For the full year, Oklo recorded an operations loss of $139.3 million, driven primarily by development expenses, payroll, and professional fees.
As of December 31, 2025, Oklo held $1.4 billion in cash and marketable securities, including $788.4 million in cash and equivalents and $624.1 million in marketable securities.
In a separate operational update, Oklo announced that the U.S. Department of Energy (DOE) approved the Nuclear Safety Design Agreement for Atomic Alchemy’s Groves Isotopes Test Reactor in Texas under the DOE’s Reactor Pilot Program.
Wedbush analysts highlighted that the quarter showed “continued laying of the groundwork for future growth,” citing strengthened demand for domestic nuclear deployment amid AI infrastructure expansion.
Key developments include a prepayment agreement with Meta to advance plans for a 1.2 GW Aurora powerhouse in Pike County, Ohio, and binding contracts with Siemens Energy for the power conversion system and a planned joint venture with Centrus Energy focused on HALEU deconversion services.
The analysts noted these steps reinforce the industrial supply chain needed for commercial deployment at scale.
“Oklo is setting the stage for nuclear energy to become widely adopted over the next decade as the AI Revolution drives significant demand for new clean energy,” Wedbush wrote.
“The regulatory environment for domestic nuclear continues to accelerate as the Trump Administration remains committed to positioning nuclear as a cornerstone of US energy and AI infrastructure policy.”
The firm maintained an Outperform rating while lowering its price target from $150 to $110 to reflect a lower multiple.
“Oklo remains one of the most differentiated ways to play the intersection of AI infrastructure and domestic nuclear deployment,” they wrote.
Shares of Oklo were little changed at $60 post-earnings.