Oklo Inc. (NYSE: OKLO) saw its shares climb approximately 13% in Friday trading after the advanced nuclear technology company reported its first-ever quarterly revenue, which came in well above analyst expectations, even as its net loss widened more than anticipated.
For the second quarter, Oklo recorded revenue of $1.21 million, comfortably surpassing the consensus range of roughly $70,000 to $126,250, according to data from Fiscal.ai and other market estimates. The company's loss per share of $0.28 was wider than the expected range of $0.16 to $0.18, marking its fifth consecutive quarterly earnings miss.
Despite the loss, the company ended the quarter with $3 billion in total liquidity, including $1.6 billion in cash and cash equivalents and $1.4 billion in marketable securities. Looking ahead to 2026, Oklo projects operating cash flow of $120 million to $150 million, with capital expenditures for property, plant, and equipment expected to be between $400 million and $500 million.
Groves reactor milestone boosts momentum
The earnings release came just one day after Oklo announced that its Groves Isotope Test Reactor in Texas had achieved criticality—a self-sustaining nuclear chain reaction—less than a year after construction began. The company noted that this makes Groves the first reactor developed under the U.S. Department of Energy's Reactor Pilot Program to reach criticality on privately owned land after being built from the ground up.
This milestone aligns with broader government efforts to accelerate domestic nuclear power generation to meet rising electricity demand from AI data centers and advanced manufacturing. Recent executive actions have targeted a fourfold increase in U.S. nuclear generating capacity.
Oklo also reaffirmed its timeline to deploy its first Aurora powerhouse in 2028, while continuing to advance regulatory approvals, fuel manufacturing, and recycling initiatives. During the quarter, the company secured a site use permit from the DOE for its Idaho National Laboratory location and received an allocation of five metric tons of HALEU fuel produced from recovered uranium for its planned commercial Aurora powerhouse in Idaho.
Customer pipeline and AI partnerships expand
Oklo expanded its commercial pipeline during the quarter by signing non-binding letters of intent with Equinix, Diamondback Energy, and Prometheus Hyperscale. The company also highlighted its previously announced 12-gigawatt Master Power Agreement with Switch, signed in December 2024, which it describes as one of the largest corporate power purchase agreements to date.
In January 2026, Oklo entered a prepayment agreement with Meta to support development of a 1.2-gigawatt power campus in Ohio for the tech giant's data centers. The funding is intended to help secure nuclear fuel and advance the project's initial phase.
Additionally, Oklo announced AI-focused collaborations with NVIDIA, Los Alamos National Laboratory, and Battelle Energy Alliance to support AI-enabled reactor design, simulation, fuel development, engineering workflows, and development of its Pluto reactor system under the DOE's Reactor Pilot Program. The company also signed a letter of intent with Centrus Energy in June 2026 for potential HALEU fuel supply to support up to five Aurora powerhouses, with deliveries expected to begin in 2029.
Investors have shown renewed interest in nuclear energy stocks as the AI boom drives demand for reliable, carbon-free power. For context, other tech-related movers include Korea's AI trade split and Datadog's post-earnings plunge, reflecting the volatile sentiment in growth sectors.
This article is for informational purposes only and does not constitute financial advice.
