OKLO Inc. (OKLO) Q3 2024 Earnings Breakdown

Key Highlights:

• Financial Performance: Oklo reported a net loss of $63,327,233 for the nine months ended September 30, 2024, compared to a net loss of $17,851,758 for the same period in 2023. This increase in net loss is primarily attributed to significant growth in operating expenses, particularly in research and development, driven by the company's aggressive expansion plans and investment in core technologies.
• Deployment Milestones: Oklo achieved crucial milestones towards deploying Aurora powerhouses, including securing a site use permit from the DOE for the Idaho National Laboratory (INL) site, receiving a fuel award from INL, completing the second phase of thermal hydraulic testing with Argonne National Laboratory, and finalizing a Memorandum of Agreement with the DOE Idaho Operations Office for site investigation in Idaho.
• Expanded Customer Base: Oklo announced plans for two additional Aurora powerhouses in Ohio and was tentatively selected to provide power and heat to Eielson Air Force Base. The company also signed non-binding letters of intent with Equinix, Diamondback Energy, and Prometheus Hyperscale, potentially bringing the total deployed capacity of Aurora powerhouses to over 2,100 MWe, representing a significant increase since its business combination announcement in July 2023.
• Progress in Fuel Recycling: Oklo made notable advancements in fuel recycling, securing DOE approval for the Safety Design Strategy and Conceptual Safety Design Report for the Aurora Fuel Fabrication Facility at INL. Additionally, the company successfully completed the first end-to-end demonstration of key stages in their advanced fuel recycling process.
• Atomic Alchemy Acquisition: In a significant development, Oklo announced the signing of a term sheet with Atomic Alchemy on November 7, 2024, outlining a proposed $25 million all-stock acquisition of Atomic Alchemy. This strategic move aims to leverage Atomic Alchemy's expertise in isotope production, further strengthening Oklo's market position and expanding their product portfolio.