Sam Altman-Backed Oklo Reports Q3 Earnings: 'Momentum Is Building Every Week'

Oklo Inc OKLO reported third-quarter financial results after the market close on Thursday. Here’s a rundown of the nuclear company’s report.

Q3 Earnings: Oklo reported a third-quarter loss of eight cents per share, according to Benzinga Pro. The Sam Altman-backed company noted it used $24.9 million of cash in operations year-to-date.

Oklo reported operating losses of $37.4 million since the start of the year. The company said it remains on track to meet its full-year operating loss forecast of $40 to $50 million.

Oklo ended the quarter with $288.5 million in cash, cash equivalents and marketable securities.

“We are entering an era of unprecedented energy demand — rivaled perhaps only by initial conversion to electrification over a century ago. The world is now recognizing nuclear's role in powering that future,” said Jacob DeWitte, co-founder and CEO of Oklo.

“Momentum is building every week — regulators are modernizing, bipartisan support is growing and some of the most influential companies are investing heavily in the space.”

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Oklo announced earlier this week that it’s partnering with two major data center providers to deliver up to 750 MW of power. The commitments bring Oklo's customer pipeline up to approximately 2,100 MW.

Oklo also said it plans to submit its combined license application to the U.S. Nuclear Regulatory Commission (NRC) during the first half of 2025.

“With a site permit and secured fuel, we believe we're poised to be a leader in deploying advanced nuclear by late 2027. As the world experiences an extraordinary transformation driven by AI, the future demands an equally bold solution for energy. We're proud to lead the way,” DeWitte said.

Management will hold a call to discuss the quarter with investors and analysts at 4:30 p.m. ET.

OKLO Price Action: Oklo shares were down 5.74% in after hours, trading at $22.51 at the time of publication, according to Benzinga Pro.

Photo: Courtesy of Oklo.