OKLO earnings analysis
What we found in OKLO's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Oklo Inc. reported Q1 2026 results characterized by continued operational losses and a reliance on cash reserves, having generated no revenue and recorded an EPS of -$0.19, consistent with prior estimates. The company is focusing on significant projects in nuclear energy and fuel recycling, alongside strategic partnerships to enhance its market position amid ongoing high operating costs.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- No Revenue Generated
- The company reported zero revenue for Q1 2026, a significant lack of progress compared to prior expectations.
- Operating Expenses Rising Significantly
- Total operating expenses reached $51.2 million, up from $25.1 million in Q1 2025, a 104.2% increase.
- Research and Development Costs Surge
- R&D expenses soared to $27.0 million from $7.8 million year-over-year, marking a 244.7% increase.
- Interest Income Increased Sharply
- Interest and dividend income increased to $21.3 million, up from $3.7 million, representing a 484.2% gain.
- Significant Cash Reserves
- As of March 31, 2026, cash and marketable securities totaled $2.54 billion, indicating strong liquidity.
- Increased Headcount and Salaries
- 85 new employees boosted compensation costs by $5.8 million, contributing to overall rising operational expenses.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- High Operational Costs Persist
- Total cash used in operating activities was $17.9 million in Q1 2026, up from $12.2 million in Q1 2025.
- Dependence on Cash Reserves
- With an accumulated deficit of $273.8 million, the company relies heavily on its cash reserves for operations.
- Regulatory Approval Timeline Uncertain
- Delays or rejections in obtaining regulatory approvals for its powerhouses could severely impact future operations.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.19
What they said about what is next.
Management anticipates continued reliance on existing cash reserves for the foreseeable future to fund operations and project deployments.
The filing reads about the same as the one before it.
What came before.
- 10-Q · May 12, 2026
- Oklo's Q1 2026 results show significant growth in operating expenses and revenue sources, primarily driven by increased research and development and general administrative costs. The company recorded a net loss of $33.1…
- 10-K · March 17, 2026
- Oklo’s 2025 Form 10-K documents material technical and commercial progress (DOE approvals, a 5 metric ton HALEU fuel award, and expanded business lines via the Atomic Alchemy acquisition) while the company remains…
- 10-Q · November 14, 2024
- Oklo reported no revenue and a net loss of $9,959,165 (net loss per share $0.08) for the quarter ended September 30, 2024. The company completed a business combination that materially strengthened liquidity (total cash,…
- 10-Q · May 8, 2024
- AltC Acquisition Corp. (a SPAC) generated net income of $1,528,369 in Q1 2024 driven by interest income from its Trust Account, but operating cash used and a steep decline in cash outside the Trust raise liquidity…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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