Oklo Inc. (OKLO) saw its stock price plummet by a staggering 18.18% during the pre-market trading session on Friday, reflecting investors' concerns over the company's disappointing third-quarter financial performance and the ongoing challenges it faces in commercializing its advanced fission power technology.
According to the company's Q3 earnings report, Oklo reported a wider-than-expected net loss of $0.08 per share, missing analysts' estimates of a $0.05 loss per share. The company's operating expenses for the nine-month period reached $37.4 million, primarily driven by research and development costs and general administrative expenses.
Despite having a substantial cash position of $288.5 million after a SPAC merger in May 2024, Oklo has yet to generate any revenue as its flagship Aurora powerhouse product line is still under development. The company aims to deploy its first 15-50 MWe Aurora plant by 2027, but faces regulatory uncertainties, competition from other players in the emerging advanced fission power market, and the need for further financing to construct its plants.
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