Oklo, a U.S. nuclear energy startup, delivered a surprise in the second quarter of 2026. The company reported revenue of $1.21 million, significantly higher than the $126,250 forecasted by analysts. Despite the strong revenue, Oklo still posted a loss of 28 cents per share, wider than the 16 cents per share that experts had anticipated. But the company closed the quarter with $1.6 billion in cash and cash equivalents.
Looking ahead, Oklo is forecasting operating cash flow of $120 million to $150 million by 2026. However, the company will need to spend between $400 million and $500 million on property, plant, and equipment. These figures highlight the capital-intensive nature of Oklo’s long-term goals, particularly its Aurora powerhouse project.
Oklo is working toward deploying its first Aurora powerhouse by 2028. Recent regulatory and supply progress has brought the company closer to that goal. The U.S. Department of Energy (DOE) issued a site use permit for the Idaho National Laboratory (INL) location, and Oklo received five metric tons of HALEU fuel. This high-assay low-enriched uranium is made from previously used EBR-II fuel, providing a sustainable feedstock.
The company has submitted key regulatory documents, including the Nuclear Safety Design Agreement and Preliminary Documented Safety Analysis (PDSA), as part of the DOE’s multi-stage approval process.
Oklo has partnered with NVIDIA, Los Alamos National Laboratory, and Battelle Energy Alliance to integrate AI into its nuclear reactor design, simulation, and engineering processes. These partnerships are part of the DOE’s Reactor Pilot Program, aimed at accelerating innovation in nuclear technology.
Oklo has also signed non-binding letters of intent with companies like Equinix, Diamondback Energy, and Prometheus Hyperscale. In December 2024, it finalized a 12 GW Master Power Agreement with Switch, one of the biggest corporate power purchase agreements to date. In January 2026, Oklo signed a prepayment deal with Meta to support a 1.2 GW power campus in Ohio. And in June 2026, Oklo signed a letter of intent with Centrus Energy for HALEU fuel supply.