Oklo reported a loss of $41.7 million, or 22 cents a share, for the quarter, compared with a loss of $29.7 million, or 20 cents a share, a year earlier. Analysts polled by FactSet had expected a loss of 27 cents a share. Revenue totaled $1.9 million, against analyst estimates of $1 million.
In section Market Quotes
Oklo Rises 10% After Third-Quarter Loss Beats Forecasts
Oklo shares climbed 10% to $21.13 in premarket trading Friday after the nuclear technology company reported a third-quarter loss smaller than analysts expected and revenue above their estimates. The move came after the stock had fallen 73% year to date through Thursday’s close.
The company is working to commercialize its metal-fueled fast reactor technology through its Aurora powerhouse product line. Oklo said the powerhouses are designed to run on fresh, recycled or down-blended nuclear fuel. Initial designs target electrical output of 15 to 75 megawatts, with the potential to expand the line over time to higher-output configurations.
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