Oklo stock rises 13% as first-ever revenue tops estimates despite wider Q2 loss

Oklo shares traded higher on Friday after the advanced nuclear technology company reported its first-ever quarterly revenue, significantly exceeding Wall Street expectations, even as it posted a wider-than-expected loss.

The stock gained about 13.3% in trading and was on track for its biggest weekly advance in nearly four months.

For the second quarter, Oklo reported revenue of $1.21 million, comfortably above analyst estimates that ranged from approximately $70,000 to $126,250, according to Fiscal.ai and market estimates.

The company, however, posted a loss of $0.28 per share, wider than Wall Street expectations of a loss between $0.16 and $0.18 per share.

The result marked Oklo's fifth consecutive quarterly earnings miss.

Oklo ended the second quarter with $3 billion in total liquidity, including $1.6 billion in cash and cash equivalents and $1.4 billion in marketable securities.

For 2026, the company expects operating cash flow of $120 million to $150 million, while capital expenditures for property, plant and equipment are projected at $400 million to $500 million.

Groves reactor milestone boosts momentum

The earnings report came a day after Oklo announced that its Groves Isotope Test Reactor in Texas had reached criticality, achieving a self-sustaining nuclear chain reaction less than one year after construction began.

The company said the milestone makes Groves the first reactor developed under the US Department of Energy's Reactor Pilot Program to reach criticality on privately owned land after being built from the ground up.

The development comes as the US government seeks to accelerate domestic nuclear power generation to support growing electricity demand from artificial intelligence data centers and advanced manufacturing.

Recent executive actions have targeted a fourfold increase in US nuclear generating capacity.

Oklo also said it remains on track to deploy its first Aurora powerhouse in 2028 while continuing to advance regulatory approvals, fuel manufacturing and recycling initiatives.

During the quarter, the company secured a site use permit from the US Department of Energy for its Idaho National Laboratory location and received an allocation of five metric tons of HALEU fuel produced from recovered uranium for its planned commercial Aurora powerhouse in Idaho.

Customer pipeline and AI partnerships expand

Oklo continued expanding its commercial pipeline during the quarter through non-binding letters of intent with Equinix, Diamondback Energy and Prometheus Hyperscale.

The company also highlighted its previously announced 12-gigawatt Master Power Agreement with Switch, signed in December 2024, describing it as one of the largest corporate power purchase agreements to date.

In January 2026, Oklo entered a prepayment agreement with Meta to support development of a 1.2-gigawatt power campus in Ohio for the company's data centers.

The funding is intended to help secure nuclear fuel and advance the project's initial phase.

The company also announced AI-focused collaborations with NVIDIA, Los Alamos National Laboratory and Battelle Energy Alliance to support AI-enabled reactor design, simulation, fuel development, engineering workflows and development of its Pluto reactor system under the Department of Energy's Reactor Pilot Program.

Separately, Oklo signed a letter of intent with Centrus Energy in June 2026 for potential HALEU fuel supply to support multiple years of requirements for up to five Aurora powerhouses, with deliveries expected to begin in 2029.