NuScale COO Cashes Out on Q2 Day, TVA Deal Looms
NuScale Power reported Q2 2026 revenue of $0.1 million, down 98.8% year-over-year, as CEO John Hopkins cited NRC approvals and a potential 6-8 gigawatt power purchase agreement negotiated by partner E
NuScale Pitches 6-GW TVA Deal While COO Cashes Out
NEW YORK, August 9 —
NuScale Power Corporation (SMR) reported Q2 2026 revenue of $0.1 million on August 5, down 98.8% from a year earlier, while CEO John Hopkins declared the company commercially ready and disclosed that strategic partner ENTRA1 Energy is negotiating a potential 6-8 gigawatt power purchase agreement with the Tennessee Valley Authority. That same day, COO Carl Fisher sold $175,734 in shares.
- Q2 revenue fell to $0.1M from $8.1M a year earlier; trailing operating cash outflow stands at $776M.
- COO Fisher exercised options then sold 18,771 shares at $9.36 on earnings day; 90-day insider sales total $378,534, purchases zero.
- Stock trades 83% below its 52-week high; ENTRA1 Energy is negotiating a possible 6-8 GW TVA deployment.
Commercially Ready, Commercially Idle
NuScale Power Corporation designs and sells the NuScale Power Module, a 77-megawatt light water reactor, and services including regulatory licensing, construction engineering, operator training, and fuel management. Revenue collapsed 98.8% year-over-year to $0.1 million in Q2 2026 from $8.1 million a year earlier, as prior engineering contracts concluded. Management's framing: completion, not cancellation. CEO Hopkins cited U.S. Nuclear Regulatory Commission approvals, a mature engineering base, fuel availability, and a supply chain largely locked with partners including Doosan Enerbility, Framatome, and Paragon Energy Solutions. The question is whether commercially ready means commercially funded.
The Selling Pattern
On August 4, Fisher exercised options to acquire 42,625 shares; on August 5, the same day NuScale filed its Q2 earnings 8-K, he sold 18,771 at $9.36 per share for $175,734. CFO Robert Hamady sold 20,000 shares at $10.14 in late June, realizing a $6.94-per-share spread on options exercised at $3.20. Over the 90-day window, per filings, insiders recorded $378,534 in open-market sales and zero open-market purchases. With approximately $1.9 billion in total liquidity and minimal debt, this is not distress selling: it is executives with the most direct visibility into operational readiness choosing to sell.
| Ticker | Mkt cap | Fwd P/E | 52-wk |
|---|---|---|---|
| SMR | $4.0B | n/a | -74.3% |
| OKLO | $8.4B | n/a | -32.6% |
| NNE | $1.0B | n/a | -46.3% |
| LEU | $3.8B | 53.2x | -12.7% |
| CEG | $95.6B | 20.3x | -18.6% |
| VST | $47.4B | 13.6x | -29.7% |
Only a Signed Contract Changes the Thesis
The ENTRA1-TVA negotiation for 6-8 gigawatts is the only catalyst that closes the gap between NuScale's $4 billion market cap and near-zero trailing revenue, a gap easier to visualize with the DCF calculator than to justify from reported numbers. Short interest at 23.2% of float and Canaccord Genuity's pessimistic price forecast show the market has already priced in low probability of near-term revenue conversion. The thesis turns bullish only on a signed power purchase agreement; what management delivered on the Q2 call was not that. Run the free NuScale Power Corporation deep-dive → for the latest numbers.
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Frequently Asked Questions
What did NuScale Power report for Q2 2026?
NuScale Power reported Q2 2026 revenue of $0.1 million, down 98.8% from $8.1 million a year earlier, as prior engineering contracts concluded. Management characterized the decline as completion rather than cancellation, pointing to U.S. Nuclear Regulatory Commission approvals and a locked supply chain. Trailing operating cash outflow stands at $776 million.
Why did NuScale's COO sell shares on earnings day?
COO Carl Fisher exercised options to acquire 42,625 shares on August 4, then sold 18,771 shares at $9.36 per share on August 5, the same day the Q2 earnings 8-K was filed, realizing $175,734. With approximately $1.9 billion in total liquidity and minimal debt, the article characterizes this as executives with direct operational visibility choosing to sell, not distress selling. Over the prior 90 days, insiders recorded $378,534 in open-market sales and zero open-market purchases.
What is the ENTRA1 Energy TVA deal for NuScale?
Strategic partner ENTRA1 Energy is negotiating a potential 6-8 gigawatt power purchase agreement with the Tennessee Valley Authority, a detail CEO John Hopkins disclosed on the Q2 call. No contract has been signed. The article frames a signed power purchase agreement as the only catalyst that would close the gap between NuScale's $4 billion market cap and near-zero trailing revenue.
What does NuScale Power's short interest indicate?
Short interest stands at 23.2% of float, and Canaccord Genuity has issued a pessimistic price forecast on the stock. The article interprets these signals as the market having already priced in a low probability of near-term revenue conversion. The stock also trades 83% below its 52-week high.
What technology does NuScale Power sell?
NuScale designs and sells the NuScale Power Module, a 77-megawatt light water reactor, alongside services covering regulatory licensing, construction engineering, operator training, and fuel management. Key supply chain partners include Doosan Enerbility, Framatome, and Paragon Energy Solutions. The company has received U.S. Nuclear Regulatory Commission design approval.
NuScale Power's chief operating officer sold shares on the same day the company filed its Q2 2026 earnings report showing revenue of just $0.1 million — while management simultaneously declared the company commercially ready and disclosed that partner ENTRA1 is negotiating a potential 6-8 gigawatt power purchase agreement with the Tennessee Valley Authority.