Oklo, the nuclear power startup that has captured significant attention from retail investors, reported its third-quarter earnings, revealing a notable rise in market valuation to over $15 billion, despite lacking revenues and being far from profitability. The company’s stock has surged more than 400% in 2025, drawing interest amid a growing enthusiasm for nuclear energy.
In its recent earnings report, Oklo disclosed a net loss per share of $0.20, which fell short of the anticipated $0.13 loss projected by Wall Street analysts. Additionally, research and development expenses reached $14.9 million, exceeding the expectation of $10.2 million. However, the company boasts robust cash reserves, reporting $410 million in cash and cash equivalents, a significant increase from $91.8 million in the same quarter last year. This growth primarily stems from a stock sale announced in June, which injected substantial capital into the company.
Founded with a focus on nuclear energy, Oklo is part of a growing sector that includes other notable players such as Nuscale and Nano Nuclear. Many analysts have noted that expectations surrounding the burgeoning data center industry could elevate demand for nuclear power alongside traditional energy sources. Oklo stands out in this competitive landscape, possibly benefiting from its perceived strategic advantage with governmental support, particularly due to ties with influential political figures.
The close connection between Oklo and the U.S. government’s energy policies has garnered attention. Former board member Chris Wright, who served as Secretary of Energy, stepped down earlier this year, yet the company’s relationship with the administration may continue to play a crucial role in its future endeavors.
As the momentum in nuclear power continues to grow, driven by infrastructure needs and renewable energy pressures, Oklo’s trajectory remains one to watch. The company’s ability to leverage its financial position and government connections could be pivotal as it navigates the challenges of a capital-intensive industry while striving to reach its long-term goals.