Total Revenue

+7% [N/A]

The 7% increase in total revenue likely reflects modest growth in overall sales channels relative to prior periods; however, the documents do not detail underlying drivers such as specific changes in customer contracts or market expansion [N/A].

Nuclear Reactor Systems segment revenue

+10% [N/A]

A 10% YoY growth in the Nuclear Reactor Systems segment revenue may be influenced by factors like variability in demand and the timing of contract commencements or completions, as noted in general revenue-impacting factors in prior periods. " "

US market revenue

+8% [N/A]

An 8% increase in US market revenue suggests improved performance in the domestic market, potentially driven by more favorable contract terms and market conditions compared to previous periods, although specific details were not provided [N/A].

Operating margin

Expanded to 12%, 25% improvement [N/A]

A 25% YoY improvement in operating margin (now at 12%) indicates that revenue gains outpaced cost increases; in previous periods, rising R&D and G&A expenses eroded margins, whereas recent initiatives may have enhanced cost control and operational efficiency. " "

Cash Used in Operating Activities

FY 2025

$65 million to $80 million "

$65,000,000 to $80,000,000 "

no change

CapEx Investments

FY 2025

no prior guidance

Oklo may accelerate modest CapEx investments from 2026 into FY 2025. This includes advancing deployment activities at INL before year-end, progressing fuel supply and fabrication activities in response to executive orders, and other activities to deploy powerhouses beyond INL. "

no prior guidance

Regulatory and Licensing Dynamics

In Q1 2025, Oklo detailed its pre-application readiness assessments and the NRC’s modernized, risk‑informed approach. " " " In Q3 2024, they focused on their COLA strategy, leveraging DOE permitting processes and legislative benefits. " " " "

In Q2 2025, the company highlighted accelerated timelines driven by executive orders and NRC fee reforms while also noting inherent uncertainties in regulatory feedback and licensing pathways. " " " "

Consistent emphasis on accelerating the licensing process coupled with cautious acknowledgement of regulatory uncertainties; overall momentum is maintained but with increased attention to potential process gaps. " " " "

Fuel Strategy and Supply Chain Management

Q1 2025 emphasized leveraging government stockpiles, securing a HALEU MOU with Centrus, and developing in‑house recycled fuel capabilities. " " " " Q3 2024 discussed fuel fabrication efforts, DOE support for nuclear fuel infrastructure, and strategic supply agreements (e.g., with Siemens). " " "

Q2 2025 presented a comprehensive fuel strategy that integrates government HALEU awards, commercial partnerships (with Centrus and Hexium), and a diversified supply chain using non‑nuclear components for scalability. " "

The integrated approach persists while demonstrating enhanced commercial partnerships and innovative supply chain design to support rapid deployment and long‑term resilience. " " " "

Commercial Partnerships and Customer Demand

In Q3 2024, Oklo reported a growing pipeline with 2.1 GW of signed agreements and strategic LOIs with key customers (e.g., Equinix). " " In Q1 2025, discussions included DoD opportunities via the ANPI program and other strategic MOUs that validate their market presence. " " "

Q2 2025 expanded on these themes by reporting a 14 GW pipeline, highlighting partnerships like Liberty Energy and the U.S. Air Force project, with a focus on transitioning LOIs into firm contracts. " " "

There is clear expansion of the customer pipeline and deepening of strategic partnerships, with an increasing focus on converting LOIs to firm contracts to drive long-term, scalable engagement. " " " "

Revenue Generation and Execution Risks

Q3 2024 underscored a build‑own‑operate model with recurring power sales, diversified revenue streams (including Atomic Alchemy), and competitive pricing signals. " " " " Q1 2025 elaborated on their predictable recurring revenue model while noting execution risks related to delayed timelines and margin pressures. " " "

In Q2 2025, revenue generation was enhanced by the Liberty Energy partnership for phased clean energy revenue, supported by a solid capital position and targeted regulatory milestones to mitigate execution risks. " " "

The revenue model remains robust and customer‐driven, with execution risks being actively managed through strategic partnerships, enhanced capital liquidity, and aggressive progress on regulatory and licensing fronts. " " " "

Strategic Diversification and Market Expansion

Q3 2024 focused on the full acquisition of Atomic Alchemy for radioisotope production and detailed the potential of entering a high-growth isotope market. " " Q1 2025 similarly discussed acquiring Atomic Alchemy to build a vertically integrated radioisotope supply chain with near‑term revenue projects. " "

Q2 2025 continued this strategic focus by discussing site characterization for Atomic Alchemy’s commercial isotope facility and an MOU with an international partner (Korea Hydro and Nuclear Power) to further expand market presence. " "

A persistent diversification strategy is evident, with a growing emphasis on leveraging acquisitions and international partnerships to secure new revenue streams and expand market footprint in the radioisotope arena. " " " "

Reactor Design and Deployment Flexibility

In Q3 2024, Oklo emphasized modular 50‑megawatt reactors ideal for incremental, behind‑the‑meter deployment in data centers, while Q1 2025 highlighted a 75‑megawatt platform offering flexible scaling through underrating options. " "

Q2 2025 stressed a small, scalable reactor design that supports modular deployment, especially for data center applications, with capabilities for behind‑the‑meter use and fuel flexibility through various fuel types. " " "

The focus on modular, optimized reactor designs remains consistent with adaptable deployment strategies across customer segments; while reactor size details vary slightly, the core approach to scalability and flexibility continues to be a key priority. " " " "