AI Takeaway
Oklo reported a dramatically widened net loss of -$33.1M in Q1 2026 (vs. -$9.8M a year ago) driven by a 244.7% surge in R&D spending, while its balance sheet expanded nearly 8x to $2.7B in total assets following a major financing event that raised over $1.18B in cash.
EPS (Basic)
$-0.19
-171.43% YoY
Operating Income
$-51.25M
-186.72% YoY
Filed · Analysis updated · Source: SEC EDGAR 10-Q filing
R&D expenses surged 244.7% year-over-year to $27.0M in Q1 2026 from $7.8M in Q1 2025, reflecting Oklo's aggressive investment in its advanced fission reactor technology development ahead of any commercial revenue generation.
Source: Source: 10-Q Income Statement Data
Operating loss deepened to -$51.2M from -$17.9M in the prior-year period, a deterioration of 186.7%, as the company continues to operate in a pre-revenue stage with rapidly escalating operating costs.
Source: Source: 10-Q Income Statement Data
Financing cash flow reached $1.18B in Q1 2026 compared to essentially zero in Q1 2025, indicating a major equity or debt capital raise that has fundamentally reshaped the company's balance sheet and extended its operational runway.
Source: Source: 10-Q Cash Flow Statement Data
2 more insights available
Upgrade to unlockOklo has no commercial revenue and is burning cash at an accelerating rate, with net losses widening 237.1% year-over-year to -$33.1M. Without a clear near-term path to revenue, continued losses could erode even the newly raised capital over time.
Source: Source: 10-Q Income Statement Data
Unlock 4 more detailed risk analysis
Upgrade to unlockReported EPS of $-0.19 versus the $-0.20 analyst consensus — a +3.4% beat for Q1 FY2026.
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Operating Income | $-51.25M | $-17.87M | -186.72% |
Net Income | $-33.06M | $-9.81M | -237.05% |
EPS (Basic) | $-0.19 | $-0.07 | -171.43% |
EPS (Diluted) | $-0.19 | $-0.07 | -171.43% |
R&D Expense | $27.05M | $7.85M | +244.75% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Total Assets | $2.7B | $302.15M | +794.77% |
Current Assets | $2.23B | $204.91M | +986.18% |
Total Liabilities | $64.88M | $32.82M | +97.71% |
Current Liabilities | $37.14M | $5.66M | +556.69% |
Stockholders' Equity | $2.64B | $269.33M | +879.70% |
Cash & Equivalents | $1.59B | $90.08M | +1669.69% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Operating Cash Flow | $-17.87M | $-12.24M | -45.94% |
Investing Cash Flow | $-359.03M | $6.06M | -6020.75% |
Financing Cash Flow | $1.18B | $-875,000 | +135249.60% |
D&A | $163,000 | $124,000 | +31.45% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
ROE | -1.3% | — | — |
ROA | -1.2% | — | — |
Current Ratio | $59.933 | — | — |
Debt to Equity | $0.025 | — | — |
Oklo's Q1 2026 results showed a net loss of -$33.1M, nearly 3.4x worse than the -$9.8M loss in Q1 2025, as R&D spending surged 244.7% to $27.0M. The headline positive was a transformational capital raise that brought in $1.18B in financing cash flow, leaving the company with $1.59B in cash. Oklo remains a pre-revenue company investing heavily in its advanced fission reactor technology.
As of Q1 2026, Oklo held $1.59B in cash and equivalents, a 1,669.7% increase from $90.1M a year earlier. This dramatic increase was driven by a major financing event that generated $1.18B in financing cash flow during the quarter. The company's current ratio of approximately 60x suggests it has ample liquidity to fund operations for the foreseeable future.
Oklo's net loss widened to -$33.1M in Q1 2026 from -$9.8M in Q1 2025, primarily because R&D expenses tripled to $27.0M from $7.8M as the company accelerates development of its advanced nuclear reactors. Operating losses deepened to -$51.2M, reflecting the company's pre-revenue status and its deliberate strategy of heavy upfront investment in technology development. There is no commercial revenue to offset these costs.
Yes, Oklo raised substantial capital in Q1 2026, with financing cash flow reaching $1.18B compared to essentially zero in the prior-year period. This capital raise dramatically expanded the company's balance sheet, with total assets growing 794.8% to $2.70B and stockholders' equity rising 879.7% to $2.64B. The exact structure of the raise (equity, debt, or a combination) is not detailed in the available financial data.
Oklo's near-term financial health is strong from a liquidity perspective, with $1.59B in cash, a current ratio of ~60x, and a very low debt-to-equity ratio of 0.025x. However, the company is burning cash at an accelerating rate with operating cash outflows of -$17.9M per quarter and no revenue, meaning it is entirely dependent on its capital reserves and future fundraising to sustain operations. Long-term financial health will depend on successful commercialization of its nuclear reactor technology.