Oklo Inc. Class A (OKLO) Quarterly 10-Q Report

The report was filed on November 14, 2024

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Oklo Inc. Class A (OKLO+8.77%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.

The filing includes financial statements for the quarter, showing a net loss of $9,959,165 compared to $8,667,956 in the same quarter the previous year. The increase in net loss is attributed to higher operating expenses.

Operating expenses for the quarter were $12,281,088, up from $4,663,795 in the previous year. This increase is primarily due to higher research and development costs and general and administrative expenses.

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Research and development expenses rose to $5,049,070 from $1,707,457, driven by increased payroll and employee benefits, professional services, and stock-based compensation.

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General and administrative expenses increased to $7,232,018 from $2,956,338, mainly due to higher payroll and employee benefits, professional services, and stock-based compensation.

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Interest and dividend income for the quarter was $2,546,886, compared to $78,839 in the previous year, reflecting increased cash and marketable securities balances.

The company reported cash, cash equivalents, and marketable debt securities totaling $288,470,604 as of September 30, 2024, which includes proceeds from the business combination with AltC Acquisition Corp.

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Oklo continues to focus on the development of its advanced fission power plants, with plans to commercialize its Aurora powerhouse product line.

The filing also details the company's liquidity position, indicating that existing cash resources are expected to fund operations for the next year.

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Oklo has entered into a term sheet with Atomic Alchemy for a proposed acquisition, valued at $25 million in stock, subject to due diligence.

The company highlights its progress in securing regulatory approvals and advancing its power plant deployment and fuel recycling initiatives.

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This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Oklo Inc. Class A quarterly 10-Q report dated November 14, 2024. To report an error, please email earnings@qz.com.