Oklo (OKLO, Financials) reported a fiscal 2024 net loss of $73.6 million, more than twice the $32.1 million loss from the prior year, as the nuclear technology firm continued to advance its Aurora reactor without generating revenue. Shares of Oklo closed down 8.3% at $28.34 on Tuesday following a 14% gain on Monday.

Driven by continuing development costs, the business said it had no fourth quarter income and expects further losses in 2025. For the year, free cash flow was minus $30.9 million, up from negative $16.1 million in fiscal 2023.Oklo said its Aurora reactor aims for first electricity production between late 2027 and 2028. Featuring a more than 10 year refueling cycle, the reactor is meant to provide 15 megawatts of power, scaleable to 50 megawatts.The firm plans to commercialize by means of long-term purchase contracts selling heat and power. Though the transaction is still pending U.S. Air Force approval and has not been completed, Eielson Air Force Base in Alaska has struck a preliminary agreement.Shares rose earlier in the week on Oklo's announcement of advancement in a pre-application review process with the U.S. Nuclear Regulatory Commission for its Aurora project at Idaho National Laboratory. The evaluation lets the agency assess licensing information before a formal application.Citing Oklo's new 75-megawatt reactor type meant to satisfy data center demand, Wedbush Securities maintained its Outperform rating and retained a $45 price target. Exceeding 14 gigawatts of capacity, the business also announced a development pipeline bolstering its long-term posture in advanced nuclear power technology.