What's Going On With Oklo Stock Friday?

Oklo Inc. OKLO shares are trading lower on Friday. Following the market close on Thursday, the company reported earnings for the 2024 third-quarter.

The Details: Oklo reported a loss of 8 cents per share, along with $288.5 million in cash, cash equivalents and marketable securities.

Other key pieces of financial information in the report include a year-to-date loss from operations of $37.4 million and cash used in operating activities of $24.9 million.

For the 2024 fiscal year, the company’s sees a loss from operations is between $40 million and $50 million, with guidance for cash used in operating activities set from $35 million to $45 million.

The company announced that its Aurora Fuel Fabrication Facility reached a significant milestone during the third quarter. Specifically, it received the Department of Energy’s approval of its Conceptual Safety Design Report.

In addition, the company signed a Memorandum of Agreement with the Department of Energy in September 2024, enabling it to begin site preparations for its first powerhouse. Oklo also added two data center customers to its pipeline.

“The world is now recognizing nuclear's role in powering that future. I'm confident we'll look back on 2024 as the turning point in our mission to deliver clean, reliable, and affordable energy for all. 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,” said Jacob Dewitte, Co-Founder and CEO of Oklo.

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OKLO Price Action: At the time of writing, Oklo stock is trading 22.3% at $18.56, according to data from Benzinga Pro.

Image: Courtesy of Oklo, Inc.