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Oklo Inc. Class A (OKLO+0.60%) has submitted its annual report on Form 10-K for the fiscal year ended December 31, 2024. The filing is available for review filing.
The report details Oklo's business operations, including its focus on developing advanced fission power plants to provide clean, reliable, and affordable energy at scale. The company is working on the commercialization of its Aurora powerhouses, which are designed to produce electricity and heat from recycled nuclear fuel.
Oklo reported a net loss of $73.6 million for the year, with total operating expenses reaching $52.8 million. Research and development expenses were $26.7 million, while general and administrative expenses totaled $26.1 million.
The company completed a business combination with AltC Acquisition Corp. on May 9, 2024, resulting in Oklo becoming a publicly traded company on the New York Stock Exchange under the ticker symbol 'OKLO'.
Oklo's liquidity position includes cash, cash equivalents, and marketable securities totaling $275.3 million as of December 31, 2024. The company expects these funds to be sufficient to support its operations and growth plans for the foreseeable future.
The filing highlights Oklo's strategic initiatives, including securing a site use permit from the U.S. Department of Energy for the Idaho National Laboratory site and a fuel award for a commercial Aurora powerhouse in Idaho.
Oklo's business model focuses on selling energy through power purchase agreements rather than selling its powerhouses, aiming for recurring revenue and profitability from the first year of operation.
The company is also advancing its nuclear fuel recycling capabilities, aiming to deploy a commercial-scale recycling facility in the United States by the early 2030s.
Oklo has identified various risks and uncertainties, including regulatory challenges, supply chain dependencies, and market competition, which could impact its future performance.
The report concludes with Oklo's commitment to transparency and compliance with regulatory requirements, including its efforts to maintain effective internal controls over financial reporting.
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 annual 10-K report dated March 24, 2025. To report an error, please email earnings@qz.com.