Oklo Posts Higher Q3 Net Loss, Aurora-ID Construction Moves Toward Structural Work

Shares of Oklo Inc (NYSE:OKLO) continued rising in early trading on Monday following its third-quarter results.

Construction at the nuclear energy company’s first commercial microreactor project, Aurora ID, has progressed into structural work, "with reactor-area excavation complete, safety-related rebar installation underway, and structural steel being erected," according to HC Wainwright.

The Oklo Analyst: Analyst Sameer Joshi reiterated a Buy rating and price target of $90.

The Oklo Thesis: The company is targeting the commercial deployment for the first powerhouse in 2028-2029 to accommodate plant integration, instrumentation, and commissioning based on operational insights from Groves-1, Joshi said in the note.

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Department of Energy authorization milestones are progressing, with the Documented Safety Analysis (DSA) expected to be completed closer to construction completion around 2028, he added.

The regulatory landscape is favorable, aided by an NRC rule allowing applicants to use safety analyses and operational data from DOE-authorized reactors, the analyst noted.

Fuel infrastructure installation is underway at the Aurora Fuel Fabrication Facility. The first fuel assembly is targeted for 2027, Joshi stated.

Oklo targets long-term commercial scale, aiming to reach 1GW (gigawatts) installed capacity by 2031-2032, he further said.

The analyst highlighted the following from the company’s third-quarter results:

• Operating expenses rose sequentially to $84.3 million due to headcount growth and higher professional services costs.
• Revenues reached $1.9 million, driven by the recent ARMEC and CEI acquisitions.
• Net loss attributable to common stockholders rose to $41.7 million, or 22 cents per share. This was partially offset by $27.9 million in interest and dividend income, along with an $11.4 million gain on land sales.
• The company ended the quarter with $3.2 billion in cash and marketable securities.

Management reiterated its full-year guidance, projecting operational cash usage of $120-$150 million and capital expenditures of $400-$500 million, he added.

OKLO Price Action: Shares of Oklo had risen by 3.06% to $24.27 at the time of publication on Monday.

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