Q3 2024 Nuscale Power Corp Earnings Call Transcript
Key Points
- NuScale Power Corp (SMR) is positioned to meet the increasing demand for carbon-free energy, particularly from data centers requiring reliable power.
- The company is the only U.S. NRC-approved technology with reactors already in production, leading in near-term deployability.
- NuScale's SMR technology offers scalability, availability, and reliability, making it attractive to hyperscalers and tech companies.
- International interest in NuScale's technology is growing, with developments in regions like East Asia, Eastern Europe, and Africa.
- NuScale has a strong financial position with no debt and an improved cash position, reflecting disciplined budgeting and cost optimization efforts.
- NuScale reported a significant net loss of $45.5 million for Q3 2024, indicating ongoing financial challenges.
- Revenue for the quarter was only $0.5 million, a decrease from $7 million in the same period the previous year.
- The company faces risks and uncertainties related to the regulatory environment and the need for further approvals.
- Negotiating agreements with potential customers is a complex and time-consuming process, which may delay sales goals.
- There is competition from other nuclear technologies and energy sources, which could impact NuScale's market position.
Good afternoon, and welcome to NuScale's third-quarter 2024 earnings results conference call. Today's call is being recorded. (Operator Instructions) A replay of today's conference call will be available and accessible on NuScale's website at ir.nuscalepower.com. The web replay will be available for 30 days following the earnings call.
At this time, for opening remarks, I would like to turn the call over to Scott Kozak, Director of Investor Relations. Please go ahead, Mr. Kozak.
Thank you, operator. Welcome to NuScale's third-quarter 2024 earnings results conference call. With us today are John Hopkins, President and Chief Executive Officer; and Ramsey Hamady, Chief Financial Officer.
On today's call, NuScale will provide an update on our business and discuss financial results. We will then open the phone lines for questions. This afternoon, we posted a set of supplemental slides on our Investor Relations website.
As reflected in the safe harbor statements on slide 2,
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