“Research and Development Research and development (“R&D”) expenses decreased $1.1 million during the three months ended September 30, 2025 as compared to the three months ended September 30, 2024, primarily as a result of the Company signing revenue-generatin…”10-Q · Nov 6, 2025 ↗
NuScale Power Corporation
SMR
Market read
NuScale Power Corporation's current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 10 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 6 directly disclosed connections are confirming.
- Other expenses rose $10.0M for the three months ended March 31, 2026, partly due to ramping resources for supply chain readiness and delivery of future commercial projects.
Invalidation: The isolated read changes if SMR's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 10 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 6 directly disclosed connections are confirming.
No thresholded supportive filing evidence is available yet.
No thresholded adverse filing evidence is available yet.
- Other expenses rose $10.0M for the three months ended March 31, 2026, partly due to ramping resources for supply chain readiness and delivery of future commercial projects.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
No qualifying supportive evidence was identified.
- Latest annual revenue changed -15.0% year over year.
- Operating margin changed -1816.1 percentage points in the latest annual period.
- Net margin changed -761.5 percentage points in the latest annual period.
- EV/sales is 489% above the available filing-peer median; determine whether growth and quality justify the difference.
Price as of Sep 10, 2026
10.21Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“Due to the nature of IPR&D, the expected life is indefinite, and it will be evaluated periodically for attainment of technological feasibility or impairment.”10-K · Feb 26, 2026 ↗
“Outlook Foreign SMR Market Demand for energy in foreign markets is currently being driven by population growth, industrialization and urbanization with countries in Asia contributing the most to international growth.”10-Q · May 7, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 53.1× · EV/sales 26.5×. Comparisons use only industry-matched filing peers.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for SMR. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for SMR. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind SMR
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
Depended on by
FLRFluor CorporationinvesteeNov 7, 2025 ▾
“During the 2025 Quarter, we converted 15 million of our NuScale voting shares (along with the associated ownership units in NuScale's operating subsidiary) into registered shares.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 3 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
SMR is currently a Follower in the organic co-movement group Nuclear-Led Energy Theme. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.