Oklo (OKLO) Q1 2026 earnings summary

Executive summary

• Marked two years since going public, advancing from strategy to execution with a robust customer pipeline across data centers, industrials, energy, and government sectors.

• Broke ground on the first Aurora powerhouse at Idaho National Laboratory, advanced major projects (Aurora-INL, Aurora Ohio with Meta, Aurora Eielson), and announced the Tennessee Advanced Fuel Center.

• Strengthened balance sheet with a $1.2 billion ATM equity offering, completed Groves isotope facility in 229 days, and acquired Atomic Alchemy.

• Signed major agreements with Meta, Switch, and others for future power supply; robust pipeline of customer engagements.

• Added experienced board members to support scaling and long-term growth.

Financial highlights

• Q1 2026 net loss was $33.1 million, with $51.2 million operating loss and $21.3 million net interest/dividend income.

• Cash used in operating activities was $17.9 million; investing activities used $359 million, mainly for marketable securities and $32.8 million in capital spend.

• Cash, cash equivalents, and marketable securities totaled $2.54 billion as of March 31, 2026, up from $1.23 billion at year-end 2025, boosted by $1.2 billion from a successful ATM offering.

• Operating expenses rose to $51.2 million (R&D: $27.0 million, G&A: $24.2 million), driven by headcount and stock-based compensation.

• Basic and diluted net loss per share was $0.19 for Q1 2026, with weighted-average shares outstanding at 170.3 million.

Outlook and guidance

• On track for 2026 guidance: $80–100 million cash used in operations and $350–450 million in capital deployment.

• Management believes current liquidity is sufficient to fund operations for at least one year.

• Focused on accelerating procurement and construction across all business units, targeting first commercial powerhouse deployment in 2028.

• Ongoing focus on expanding campus-style and co-located deployment models, leveraging new NRC licensing frameworks.