NuScale Power Nears Commercial Milestone as Shares Slide From 52-Week Highs
NuScale Power Nears Commercial Milestone as Shares Slide From 52-Week Highs
NuScale Power (NYSE: SMR) is edging closer to what would be a landmark moment for the small modular reactor industry: the start of construction on its first commercial project. The Portland-based nuclear technology firm says it is preparing to build its small modular reactors, pending the signature of its first customer contract.
The company’s small modular reactor (SMR) design centers on the NuScale Power Module, a light-water reactor capable of generating 77 megawatts of electricity. NuScale also provides design support and nuclear regulatory licensing documentation to prospective customers, positioning itself as one of the few developers with a licensed SMR design in the Western market.
Financial picture remains challenging
The path to commercialization has come at a cost. NuScale shares have dropped roughly 80% from their 52-week high, and the stock slipped another 0.72% in recent trading to $9.77 per share, valuing the company at approximately $2.98 billion. The company trades on the NYSE within the industrials sector, categorized under specialty industrial machinery.
The revenue picture remains minimal. In the second quarter of 2026, NuScale reported just $75,000 in revenue against an operating loss of $64 million, underscoring the pre-revenue nature of its business model. Like most nuclear developers at this stage, the company continues to spend heavily on engineering, licensing, and manufacturing preparation while awaiting customer commitments that would translate its technology into contracted projects.
A waiting game for the SMR sector
NuScale’s situation reflects a broader dynamic in the advanced nuclear industry: technology readiness has outpaced commercial deployment. The company’s ability to convert interest into a signed contract would mark the sector’s transition from licensing and design work into actual construction, a step no Western SMR developer has yet completed at commercial scale.
Until that first agreement lands, the company’s financial results will continue to be defined by operating losses rather than product sales.
Source: original release
What to watch
- Announcement of a signed contract for NuScale’s first commercial SMR deployment
- Upcoming quarterly results, including whether operating losses narrow and any updates on customer engagement
- Further regulatory or manufacturing milestones tied to the NuScale Power Module production timeline