Shares of Oklo Inc. (OKLO) plummeted 7.60% in after-hours trading on Monday following the release of the company's full-year 2024 financial results and business update. The advanced nuclear technology company's stock price decline suggests investors may be concerned about the company's financial performance.

According to the financial results, Oklo reported a full-year 2024 earnings per share (EPS) of $(0.74), compared to $(0.47) in the previous year, indicating a widening loss. However, the company did note that its cash used in operations was $38.4 million, below the forecasted range of $40-50 million, potentially suggesting some cost control measures in place.

Despite the after-hours stock decline, Oklo highlighted several positive developments in its business update. The company announced its engagement with the U.S. Nuclear Regulatory Commission in a Pre-Application Readiness Assessment for its combined license application for the Aurora Powerhouse at the Idaho National Laboratory. This move is seen as a step forward in Oklo's regulatory pathway. Additionally, the company appointed two new board members, Daniel Poneman and Michael Thompson, bringing extensive experience in the nuclear and technology financing sectors to strengthen its leadership team.