Oklo (OKLO) Q3 2026 earnings summary

Executive summary

• Groves-1 reached first criticality and Aurora-ID advanced through DOE safety approvals and structural work; power, fuel, recycling, and isotope projects are progressing toward deployment.

• Cash, cash equivalents, and marketable debt securities totaled $3.131B at September 30, 2026, supporting parallel project execution and early equipment and fuel commitments.

Financial highlights

• Q3 revenue was $1.861M, primarily from ARMEC and CEI; operating loss was $71.0M versus $36.3M YoY, and net loss was $41.746M versus $29.722M.

• 9M revenue was $3.071M; operating loss was $195.183M versus $82.198M, and net loss was $123.347M versus $64.217M; diluted loss per share was $0.69 versus $0.45.

• 9M net interest and dividend income was $72.4M versus $14.5M YoY; Q3 and 9M results included an $11.43M gain from a land sale.

• 9M cash used in operating activities was $110.9M; investing cash use was $1,298.6M, including $965.1M of net marketable-debt-security purchases and $280.9M of capital spend.

Outlook and guidance

• 2026 cash-use guidance is $120M–$150M for operating activities and $400M–$500M for PP&E purchases.

• Aurora-ID startup is targeted for 2028–2029; the DSA submission is expected closer to construction completion, not before 2028.

• 2027 targets include the first full A3F fuel assembly and recycling pilot commissioning; major Aurora-ID component installation and Groves-2 construction and first contracted isotope delivery are also planned milestones.

• Existing cash and marketable securities are expected to fund operations for at least one year after issuance of the financial statements.