SMR Stock Sinks On Huge Revenue Miss, But Here’s Why Retail Is Still Bullish

• Despite the revenue miss, retail traders are optimistic about the company’s long-term potential. 
• CEO John Hopkins said NuScale is the only SMR developer with a key regulatory edge amid rising AI-driven energy demand.
• Hopkins also highlighted NuScale’s use of readily available low-enriched uranium fuel and its strong supplier network as advantages.

Shares of NuScale Power Corp. (SMR) declined more than 5% in Thursday’s overnight trading hours after the company reported a steep decline in first-quarter (Q1) revenues, citing an impact from licensing agreements.

SMR stock is on track to reverse its 3.6% weekly gains if momentum holds through Friday.

Despite the revenue miss, retail traders are optimistic about the company’s long-term potential.

NuScale’s Market Advantage

CEO John Hopkins reiterated that NuScale is uniquely positioned in the nuclear industry as the only small modular reactor (SMR) developer with U.S. Nuclear Regulatory Commission approval under the Part 52 licensing framework, giving it a major regulatory and commercialization advantage, especially amid growing energy demands driven by AI scale.

“We're gonna see potentially a significant decline at the end of this
decade of coal-fired plants. We're gonna see the need for, as I said, the elephant in the room is still the hyperscalers who demand energy. They want behind the meter,” Hopkins said on a call with investors.

Hopkins also highlighted NuScale’s use of readily available low-enriched uranium fuel, compared to the high-assay low-enriched uranium (HALEU) fuel used by competitors, which is not available at commercial scale in North America at present. He also emphasized the company’s strong supplier network, including 37 key supplier partners signed on for 2026 goals to support production readiness, and NuScale’s $1 billion liquidity position, which puts it “years ahead” of the competition.

SMR Q1 Earnings Summary

NuScale Power reported Q1 revenue of $0.57 million, a whopping 96% lower than the $13.38 million reported in the corresponding quarter of 2025. The print was also well below the $5.57 million consensus estimate, according to Fiscal.ai data.

The company attributed the steep difference to decreased revenue from the RoPower technology licensing agreement, which contributed to higher revenues in 2025, as well as to the work associated with Fluor FEED phase II engineering services. “As projects progress forward, we expect to realize revenues and operating cash flow from the sale of products and services,” Hopkins said.

The company reported a net loss of $0.14 per share, largely in line with Wall Street expectations. NuScale’s research and development expenses increased in the quarter, higher by $3.7 million compared to the 2025 quarter.

Retail Optimism On SMR Stock

On Stocktwits, retail sentiment around SMR stock remained in the ‘bullish’ territory over the past 24 hours amid ‘high’ message volumes.

One bullish user said that the company was in its early stages. “Realistically, the company has about another 18 months before we should start expecting tangible results,” the user said.

Another user said, “This thing is a stick of dynamite with a lit fuse.” They also added that it was a “wait and hope situation” with a high risk/reward potential.

A third user reiterated that the company’s real potential was still years ahead.

SMR stock has declined nearly 23% this year.

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