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Oklo’s Post-Rally Slide Deepens as Q3 Shows No Revenue and Rising Costs

Analysts project first sales no earlier than 2027, signaling a long runway.

Overview

  • Shares that climbed ninefold to a $166 peak in mid-October have fallen about 40% over the past month.
  • Q3 results showed zero revenue, with year-to-date operating costs at $82.2 million, including $36.3 million in the quarter.
  • The company reported about $923 million in cash and equivalents and a year-to-date cash burn of $55 million, implying roughly $73 million annualized.
  • Oklo’s recent U.S. Department of Energy selection to build three fuel‑fabrication pilot facilities adds to prior DOE awards, but none have produced revenue to date.
  • Analysts polled by S&P Global Market Intelligence expect first revenue in 2027 and costs not being offset until 2030, with some reporting free cash flow could be much later.