NNE

NANO Nuclear Energy Inc. NNE used its third-quarter earnings call to focus on two execution tracks: advancing KRONOS through formal NRC review and converting its commercial pipeline into more structured customer commitments. Management also emphasized fuel-cycle integration, capital discipline and staffing as it prepares for construction and broader commercialization. CEO and interim head of Reactor Development James Walker said the NRC expects to complete its environmental assessment in the first quarter of 2027 and its safety evaluation in the third quarter. Walker said those milestones remain consistent with NANO Nuclear's expectation to begin initial construction at the University of Illinois in the second half of 2027, with first power targeted around 2030. An H.C. Wainwright analyst asked about long-lead equipment. Walker said initial work centers on excavation, concrete and the reactor citadel, while vendor negotiations for reactor components are already underway. Walker said NNE is advancing a framework with a large infrastructure developer whose data center campuses could use KRONOS systems. The partner would bring financing, sites and power infrastructure, while NANO Nuclear would supply reactors, fuel, licensing support and operating capabilities. A Texas Capital Securities analyst pressed for details. Walker said the structure under discussion could include equity grants and warrants for the partner, along with milestone-based investments ranging from tens of millions of dollars to as much as $100 million. Director of Investor Relations Matthew Barry said management is close to an initial preferred-provider framework. A ROTH Capital Partners analyst asked about faster DOD approvals, but Walker said conventional licensing work still needs to be completed and saw limited scope for major fast-tracking. Walker framed the Secured Transportation Systems acquisition as both a commercialization safeguard and a standalone growth platform. STS gives NANO Nuclear in-house nuclear logistics capabilities and experience across government and commercial missions. An Alliance Global Partners analyst asked whether STS should be viewed mainly as strategic infrastructure. Walker said the business serves both purposes and could expand substantially as NNE pursues adjacent transportation capabilities. Management is also evaluating conversion, deconversion and fuel-facility opportunities. Founder, executive chairman, president, secretary and treasurer Jiang Yu said a separate fuel-related proposal remains under review, while Walker stressed that acquisitions are intended to support reactor deployment rather than create large capital outlays. A Texas Capital Securities analyst focused on enrichment and TRISO fabrication. Walker said KRONOS can use commercially available low-enriched uranium and that NNE has begun discussions with enrichment providers including Urenco. Walker also said the company is speaking with several TRISO fabricators and is working to secure long-term arrangements. He said existing fabrication capacity can support the first-of-a-kind reactor timeline. A BTIG analyst later asked about switching from LEU+ to HALEU. Barry said the KRONOS design would not require a redesign for that change, giving NANO Nuclear flexibility to adopt HALEU when it becomes available and economically viable. Chief financial officer Jaisun Garcha said quarter-end liquidity was about $580 million after roughly $26 million of net ATM proceeds. Operating expenses were $15.9 million as engineering, licensing and fuel-cycle work expanded. The company reported a loss of $0.19 per share, narrower than the Zacks Consensus Estimate of a loss of $0.28. Revenues of $0.21 million missed the $1 million consensus estimate. Nano Nuclear Energy Inc. price-consensus-eps-surprise-chart | Nano Nuclear Energy Inc. Quote On M&A, Walker told an H.C. Wainwright analyst that NNE is not targeting large acquisitions requiring hundreds of millions of dollars. Barry added that management is evaluating government and other funding mechanisms to reduce capital needs for larger opportunities. Management's tone remained focused on converting regulatory progress into construction readiness while tightening the commercial structure around prospective deployments. The call also made clear that NNE expects its organization to keep expanding. Walker said technical hiring should accelerate over the coming months, while management continues building fuel-cycle capabilities alongside reactor development. NNE currently carries a Zacks Rank #2 (Buy). Its Momentum Score is B, while its Value, Growth and VGM Scores are F. Zacks methodology views A or B Style Scores as the strongest complements to top Zacks Ranks. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. That mix pairs a favorable Rank with weaker scores across several style dimensions. The Zacks Rank can change as analyst estimates are revised following the just-reported results. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Nano Nuclear Energy Inc. (NNE) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Interested in Nano Nuclear Energy Inc.? Here are five stocks we like better. Kronos licensing advanced: The NRC accepted Nano Nuclear’s construction permit application for review, with environmental and safety evaluations expected in 2027 and initial construction potentially beginning in the second half of that year. Commercial and government opportunities expanded: The company is pursuing potential Kronos deployments for data centers, industrial users and Air Force applications, including collaborations with Supermicro and a Phase I AFWERX award. Fuel-cycle capabilities and liquidity remain key priorities: Nano Nuclear completed its STS acquisition to strengthen nuclear transportation and logistics, ended the quarter with approximately $580 million in liquidity, and reported a third-quarter net loss of $10.1 million. Nano Nuclear’s Air Force Contract Puts Its Short-Squeeze Setup in Focus Nano Nuclear Energy (NASDAQ:NNE) said its third-quarter progress centered on advancing the licensing and engineering of its Kronos microreactor, expanding its nuclear fuel-cycle capabilities through acquisitions, and pursuing potential commercial deployments for data centers, industrial users and government customers. The company said the U.S. Nuclear Regulatory Commission formally accepted for review in May the construction permit application for a full-scale Kronos micro modular reactor at the University of Illinois Urbana-Champaign. Chief Executive Officer James Walker said the NRC expects to complete its environmental assessment in the first quarter of 2027 and its safety evaluation in the third quarter of 2027. → SoundHound AI Sends a Loud Signal After Its Q2 Earnings Beat MarketBeat Week in Review – 06/29 - 07/03 Those milestones are consistent with Nano Nuclear's expectation that the review process could conclude in 2027, allowing initial construction activity to begin in the second half of that year, Walker said. Initial work would focus on excavation and construction of the underground structure that will house the reactor, while certain non-nuclear portions of the broader energy system could be built without waiting for NRC approval, he added. Founder, Chairman and President Jay Yu said Kronos is based on high-temperature gas-cooled reactor technology and is designed to use TRISO fuel. The reactor is intended to use low-enriched uranium, or LEU-plus fuel, that the company said is commercially available today, while retaining the ability to use high-assay low-enriched uranium, or HALEU, later without redesigning the reactor. → AST SpaceMobile Earnings Just Reminded Investors How Risky Space Can Be SMRs Spark a Chain Reaction for Nano Nuclear Walker said Nano Nuclear has begun discussions with enrichment providers, including Urenco, regarding fuel needs for broader deployment, while the company is also speaking with potential TRISO fuel fabricators. He said the company believes capacity exists to fabricate fuel for the University of Illinois project, though its longer-term strategy may include greater participation in fuel manufacturing or joint ventures as reactor deployments expand. The company also reported engineering progress on critical reactor systems. Nano Nuclear is working with Fortil on Kronos’ fuel-handling and storage system, while a separate engineering collaboration with another gas-cooled reactor-experienced firm has entered detailed design for the reactor’s primary helium circulator. → First Solar’s Profit Engine Faces a New Policy Test in Washington Nano Nuclear completed a feasibility study with BaRupOn evaluating a phased deployment of up to 1 gigawatt of Kronos capacity. The company said it is continuing discussions with BaRupOn regarding potential initiation of the NRC licensing process, though it did not provide a timeline for an application. The company is also progressing discussions with a potential strategic collaborator and customer developing multi-gigawatt data-center projects in the U.S. and internationally. Walker said a potential framework could make Nano Nuclear the preferred nuclear technology provider for the developer’s campuses. Under the framework under discussion, the partner could provide financing, power infrastructure and data-center campus development, while Nano Nuclear would provide reactors, fuel, licensing support and operational capabilities. The company said a potential arrangement could include equity grants or warrants as well as investments in Nano Nuclear tied to development and reactor-purchase milestones. Terms remain under discussion. Nano Nuclear also signed a memorandum of understanding with Supermicro to evaluate integrating Kronos with AI server and data-center infrastructure platforms, including potential off-grid applications and joint go-to-market opportunities. In the government market, the company said it received an SBIR Phase I award from AFWERX, the Department of the Air Force’s innovation arm, to advance Kronos for Air Force applications. Nano Nuclear also said its previously announced direct Phase II SBIR award for Joint Base Anacostia-Bolling remains on schedule, with four remaining contract deliverables expected over the next 12 to 18 months. In May, Nano Nuclear completed its acquisition of Secured Transportation Services, or STS, a nuclear logistics, transportation and services business. The company said STS has more than 20 years of experience transporting radioactive and nuclear materials and has a history of profitability. Walker said STS has recently supported Department of Energy and National Nuclear Security Administration missions, including transporting HALEU from Japan to the U.S. and removing highly enriched uranium from Venezuela. Nano Nuclear believes bringing those capabilities in-house can reduce its dependence on third-party providers and help de-risk future reactor deployments. The company is evaluating additional acquisitions and partnerships across the fuel cycle, including another transportation business and nuclear fuel-facility assets. Walker said management does not intend to pursue large acquisitions requiring hundreds of millions of dollars in upfront spending, though a potential fuel-facility investment could be structured through investments needed to complete the facility. Chief Financial Officer Jaisun Garcha said STS generated approximately $3.9 million of unaudited revenue during the first six months of calendar 2026, including $200,000 from the May 22 acquisition closing through June 30. Third-quarter operating expenses totaled $15.9 million, reflecting higher general and administrative and research and development spending. Net loss was $10.1 million, compared with a $7.6 million loss in the prior-year quarter. Year-to-date net loss was $25.8 million, improving from $32 million in the prior-year period, aided by higher interest income and lower equity-based compensation. Year-to-date operating cash usage was $18.7 million. Year-to-date investing cash usage was $297.6 million, including approximately $281 million in short-term investments, about $10 million in property and equipment additions, and about $6 million related to the STS acquisition. Nano Nuclear ended the quarter with approximately $580 million in liquidity, up roughly $11 million sequentially. The increase reflected approximately $26 million in net proceeds from its at-the-market equity program, partially offset by spending on Kronos development, licensing and fuel-cycle initiatives. Management said it is evaluating non-dilutive funding opportunities for the University of Illinois project, including potential investment tax credits, Department of Energy programs and support from the university or the state of Illinois. NANO Nuclear Energy, Inc is a microreactor and nuclear technology company, which provides supply energy services. Its products in technical development are ZEUS, a solid core battery reactor, and ODIN, a low-pressure coolant reactor. The company is founded by Jiang Yu in February, 2022 and is headquartered in New York, NY. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Nano Nuclear Energy Q3 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

This article first appeared on GuruFocus. Release Date: August 12, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. NRC formally accepted the construction permit application for the Kronos MMR at the University of Illinois, with a clear path to construction start in 2H 2027. Completed acquisition of STS, a profitable nuclear logistics company, enhancing vertical integration and de-risking fuel cycle operations. Strong balance sheet with approximately $580 million in liquidity, among the strongest in the advanced nuclear sector. Expanding commercial pipeline, including a feasibility study for up to 1 GW with BaRupon and advanced discussions with a strategic data center partner for multi-gigawatt deployments. Fuel flexibility: Kronos can use commercially available LEU+ fuel today, with the ability to switch to HALEU without redesign, reducing near-term fuel supply risk. Net loss widened to $10.1 million in Q3 2026 from $7.6 million in the prior year quarter, driven by higher operating expenses. Operating expenses increased significantly as the company scales engineering, regulatory, and fuel cycle workstreams, with no near-term revenue from reactor sales. STS contributed only $200,000 in revenue for the period from May 22 to June 30, indicating limited immediate financial impact from the acquisition. The company faces execution risks in advancing multiple M&A and partnership opportunities, with no guaranteed closing or revenue contribution. Regulatory timelines, while on track, are subject to potential delays, and the company acknowledges that fast-tracking licensing for military or other projects is minimal. Warning! GuruFocus has detected 2 Warning Signs with LMRI. Is NNE fairly valued? Test your thesis with our free DCF calculator. Q: Can you provide insight into the structure of the framework agreement with the strategic collaborator for a multi-gigawatt data center pipeline, what it could unlock commercially, and what attracted the customer to Nano?A: CEO James Walker explained that the framework is designed to avoid the deficiencies of typical PPA agreements, which often lack customer investment. The partner, a global infrastructure investment and development firm, would receive equity grants and warrants in Nano and have the ability to invest tens of millions, potentially up to $100 million, upon achieving development and reactor purchase milestones. This co-investment model de-risks both sides and could allow Nano to also take an equity position in the nuclear data center projects, creating a synergistic partnership with multiple revenue streams. CFO Jason Garcha added that the partner's experience in building, owning, and operating large-scale infrastructure projects globally makes them a credible validator of Nano's technology and could accelerate commercialization. Q: Are there any long-lead items that need to be ordered now to start construction at the University of Illinois in the second half of 2027?A: CEO James Walker clarified that initial construction focuses on non-nuclear components like the subterranean concrete "citadel" structure, ground excavation, and concrete pouring, which do not require reactor components. While vendor negotiations for reactor parts are underway, the initial construction phase isn't waiting on them. Furthermore, non-nuclear systems like the thermal energy storage (solar salt) and the adjacent power conversion plant use standard, off-the-shelf components that don't even need to wait for NRC approval, allowing for significant progress to be made immediately. Q: Have you allocated a specific budget for acquisitions in 2026, or will you be more opportunistic?A: CEO James Walker stated there is no ceiling on acquisition spending, but the company is very capital-conscious and focuses on small-scale acquisitions that bring in-house capabilities to facilitate reactor rollout, rather than large, expensive deals. He noted the initial payment for STS was only around $7 million. The only potential exception is a fuel facility, where the equity position would be earned through investment in completing the facility rather than an upfront acquisition cost. CFO Jason Garcha added that any larger outlays would be spread over several years and potentially reduced through government programs. Q: Can you expand on the relationship with Ameresco and whether their DoD projects could expedite the licensing pathway for nuclear power?A: CEO James Walker explained that initial conversations with Ameresco were focused on EPC (engineering, procurement, and construction) work for coordinating reactor deployments. While Ameresco has enhanced use leases with the Navy, the DoD still needs to go through feasibility studies and defer to the NRC for new reactor systems, so their projects wouldn't significantly expedite the licensing process. However, they benefit from seeing the UIUC project progress through NRC review, which provides reassurance. Chairman Jay Yu added that they are in active talks with Ameresco, who has a robust nuclear group, and are exploring various synergistic strategies. Q: Can you provide an update on the proposed $230 million investment in Deoxitech?A: Chairman Jay Yu stated that the proposal is currently under review and they hope to have an update in the coming months, but declined to comment further at this time. He reiterated that the investment would be a significant achievement for their vertical integration strategy, but it remains under review. Q: Can you talk about your hiring plans over the next year and whether the employee growth rate will continue?A: CEO James Walker acknowledged the company has transitioned from a small to a medium-sized company, requiring a reorganization. The technical team still needs significant expansion to carry a reactor project from design to operation, and a big upscaling in technical staff is expected in the coming months and years. He emphasized the importance of being sensible in hiring to avoid overemployment and ensure proper reporting lines, but acknowledged the pressure to upscale as quickly as possible to support the mission. Q: Can you provide an update on conversations with commercial enrichment providers and Triso fabricators, and what fuel availability looks like for your commercialization timelines?A: CEO James Walker highlighted that Nano's ability to use commercially available LEU+ fuel is a major advantage. They are in conversations with enrichment companies like Urenco for mass rollout needs. On the fabrication side, they are speaking with emerging players like B2XT, Standard Nuclear (with Framatome), and TrisoX (X Energy subsidiary) to negotiate long-term contracts. The capacity to fabricate fuel for the first-of-a-kind reactor already exists, so timelines are not at risk. For the long term, they may consider bringing some fuel manufacturing elements in-house or establishing joint ventures to de-risk mass production. Q: How important is the higher temperature output of HTGRs versus metallic fueled fast reactors for industrial applications?A: CEO James Walker provided a technical defense of HTGRs, noting that while past HTGRs had low capacity factors, Nano's design uses a solar salt thermal energy storage loop to handle fluctuating demand. He argued that fast reactors have never been commercially deployed and require highly enriched fuel (HALEU) or plutonium blends, which are not commercially available or legally feasible. He also noted that fast reactors are more efficient at larger scales, limiting their flexibility and modularity compared to HTGRs, making the case for HTGRs stronger for small, portable, and industrial applications. Q: Is there a geographic distinction in your business model where you might be more likely to provide services versus retain ownership internationally?A: CEO James Walker noted that interest from countries like South Korea is driven by a need for industrial heat to de-risk heavy industry. While some international customers may prefer to own the reactor systems to avoid long-term payments, the majority still prefer to pay a contractual price for power and have the responsibility of operation sit with Nano. Even heavy industries that are willing to invest capital ultimately want the operational responsibility to remain with the technology provider. Q: Can you provide color on how to think about STS's revenue heading into 2027 and whether you plan to scale the business?A: CEO James Walker explained that STS is both a de-risking operation for reactor deployments and a significant growth business. The nuclear fuel cycle requires specialized transportation at every step, and with few players in the space, STS is well-positioned to grow substantially. They are looking at acquisitions at the front end of the fuel cycle to complement STS's back-end expertise, creating a more holistic business that can generate significant revenue this decade, even before reactors are deployed. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Figure 1 Management to hold webcast today at 5:00 pm Eastern New York, N.Y., Aug. 12, 2026 (GLOBE NEWSWIRE) -- NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear” or “the Company”), a leading advanced nuclear micro modular reactor and technology company focused on developing clean energy solutions, today reported its third quarter fiscal year 2026 financial results and provided a business update. Figure 1 - NANO Nuclear Reports Q3 FY 2026 Financial Results and Provides Business Update During its third fiscal quarter ended June 30, 2026 and subsequently, NANO Nuclear made tangible progress as a leading North-American microreactor developer. Key achievements included: The U.S. Nuclear Regulatory Commission (NRC) accepted for review the Construction Permit Application (CPA) for deployment of the KRONOS MMRTM Energy System at the University of Illinois (U. of I.), initiating formal review activities Completed the acquisition of Secured Transportation Systems (STS), a U.S.-based, globally operating nuclear logistics, transportation and services company with more than 20 years of experience supporting the movement of radioactive and nuclear materials, adding a revenue generating business and advancing its vertical integration strategy. Completed 1 gigawatt (GW) feasibility study for BaRupOn’s data center & manufacturing campus, advanced discussions with a potential strategic collaborator developing GW-scale data centers in the U.S. and internationally, advancing discussions with a nuclear power project developer and AI-infrastructure company for a collaboration on several commercial opportunities, and earlier stage discussions with potential data center, defense, mining, and industrial customers, providing visibility into multiple GW of potential future commercial deployments Strong progress in advancing several synergistic acquisition and partnership opportunities across the nuclear fuel cycle to further enhance vertical integration, including additional transportation assets and nuclear fuel facility assets Advanced several critical engineering workstreams, including progress with a collaboration with Fortil for KRONOS’ fuel handling and storage system, as well as a separate collaboration with another globally recognized engineering organization for KRONOS’ helium circulator Robust quarter end cash, cash equivalents and short-term investment balance of approximately $580 million dollars, positioning NANO Nuclear with substantial liquidity and financial flexibility Significantly expanded headcount to 85 employees and contractors as of June 30, 2026, from 31 one year prior, with expectations for significant further increases to enable the company’s growth strategy “We continued to execute across our core priorities during the third quarter and more recently, highlighted by the advancement of the KRONOS MMR™ Energy System into formal NRC licensing for our first deployment at the University of Illinois. We also expanded our vertical integration with the acquisition of STS to strengthen our fuel-cycle capabilities, making NANO Nuclear a revenue generating microreactor developer. Moreover, we experienced significant growth in our pipeline of commercial opportunities, with visibility into multiple gigawatts of potential commercial deployments,” said Jay Yu, Founder and Chairman of NANO Nuclear. “We’re confident KRONOS’ high-TRL modular HTGR design, enhanced safety profile, and ability to use commercially available fuel will be key advantages as we advance toward construction, licensing, and commercial deployments in the coming years. Moreover, we expect our robust financial position, highly experienced team, and significant growth in headcount to enable our future execution. Equally as important, we continue to evaluate additional M&A and partnership opportunities to expand vertical integration and de-risk future KRONOS deployments. We believe this combination of technology, strategy, financial strength, and industry experience has built one of the industry's strongest foundations for long-term value creation.” Financial Results for Nine Months Ended June 30, 2026 Cash and Cash Equivalents NANO Nuclear had cash, cash equivalents, and short-term investments totaling $580 million as of June 30, 2026, an increase from the prior quarter ended March 30, 2026 from approximately $26 million in net proceeds through its At-the-Market (ATM) program, partially offset by operating expenses related to the advancement of the KRONOS MMRTM Energy System and related fuel cycle initiatives. Operating Activities $18.7 million used in operating activities during the nine months ended June 30, 2026, an approximate $4.0 million increase from the prior year comparable period, primarily reflecting an increase in operating expenses to advance development of the KRONOS MMRTM Energy System and adjacent fuel cycle initiatives, partially offset by a significant increase in interest income and a reduction in equity-based compensation. Investing Activities $297.6 million used in investing activities during the nine months ended June 30, 2026, an increase of $284.7 million versus the prior year comparable period, primarily driven by a $281.2 million dollar increase in short-term investments to earn a higher yield on the Company’s cash balance. Financing Activities $411.5 million in net cash provided by financing activities during the nine months ended June 30, 2026, an increase of $202.2 million versus the prior year comparable period, primarily from $378.5 million in net proceeds from an October 2025 private placement and $25.6 million in net proceeds from the Company’s ATM program during the third quarter. Q3 2026 Key Highlights and Recent Developments KRONOS MMR™ Begins Formal NRC Licensing & Advances Toward Construction In May of 2026, the NRC docketed the CPA for the deployment of the KRONOS MMR™ at the U. of I., initiating formal review activities Progress with engineering partners demonstrates maturation of key reactor subsystems Growing Pipeline Provides Visibility into Multiple Gigawatts of Commercial Opportunities Completed feasibility study to evaluate 1 GW of power provided by the Company’s KRONOS MMR™ Energy System for BaRupOn’s AI data center and manufacturing campus under development in Texas, advancing discussions toward initiation of the licensing process Advancing discussions toward an initial framework with a potential strategic collaborator and customer to support their planned multi-GW pipeline of data-center projects in the U.S. and select international markets as their preferred nuclear technology partner Signed an MOU with Supermicro to evaluate the integration of the KRONOS MMR™ Energy System with their AI server and data-center infrastructure platforms Selected by AFWERX for an SBIR Phase I Award, and continued advancing Direct to Phase II Award for a separate opportunity at Joint Base Anacostia Bolling Advanced discussions with a nuclear power project developer and AI-infrastructure company for a collaboration on several commercial opportunities Tangible Progress in Enhancing Vertical Integration Across Nuclear Fuel Supply Chain Acquired STS, bringing in house a revenue generating, globally operating nuclear logistics, transportation and services company with a history of profitability Strong progress in advancing several synergistic acquisition and partnership opportunities across the nuclear fuel cycle, with potential for more than one announcement in the coming months Well-Positioned to Execute Strategy with Robust Liquidity Ended the quarter with approximately $580 million in cash, cash equivalents and short-term investments Strong balance sheet a significant strategic advantage, placing the Company in a strong position to execute its growth strategy “During the third quarter, we continued to execute across our core priorities and converted our strategic foundation into tangible progress. The NRC’s formal acceptance of our Construction Permit Application for the KRONOS MMR™ Energy System marks one of the most important milestones in our development program and reflects the maturity of the technology as we advance toward construction readiness,” said James Walker, Chief Executive Officer of NANO Nuclear. “At the same time, our acquisition of Secured Transportation Services materially strengthens our vertical integration, bringing highly specialized nuclear logistics capabilities in-house and further de-risking future KRONOS deployments. Commercially, we are making meaningful headway, particularly through advanced discussions with a prospective strategic collaborator and customer developing a multi-gigawatt pipeline of U.S. data-center projects, which we believe could position NANO Nuclear as their preferred nuclear technology provider. Moreover, our robust liquidity position, ending the quarter with approximately $580 million in cash, cash equivalents and short-term investments, continues to be a significant strategic advantage, providing us the financial flexibility to advance KRONOS, pursue synergistic acquisitions, and accelerate commercialization across several high-value end markets.” NANO Nuclear management will hold a webcast today at 5:00 pm Eastern to discuss the Company’s results and future plans. A replay of the webcast will be made available on NANO Nuclear’s website beginning shortly after the call this evening. About NANO Nuclear Energy, Inc. NANO Nuclear Energy Inc. (NASDAQ: NNE) is a North American advanced technology-driven nuclear energy company seeking to become a commercially focused, diversified, and vertically integrated company across five business lines: (i) cutting edge portable and other microreactor technologies, (ii) nuclear fuel supply chain, (iii) nuclear fuel transportation, (iv) nuclear applications for space and (v) nuclear industry consulting services. Led by a world-class nuclear engineering team, NANO Nuclear’s reactor products in development include the proprietary KRONOS MMR™ Energy System, a stationary high-temperature gas-cooled reactor that is in construction permit pre-application engagement U.S. Nuclear Regulatory Commission (NRC) in collaboration with University of Illinois Urbana-Champaign, “ZEUS”, a portable solid core battery reactor, and the space focused, portable LOKI MMR™, each representing advanced developments in clean energy solutions that are portable, on-demand capable, advanced nuclear microreactors. Advanced Fuel Transportation Inc. (AFT), a NANO Nuclear subsidiary, bolstered by the May 2026 acquisition of Secured Transportation Services (STS), is led by former executives from the largest transportation company in the world and provides nuclear engineering and materials transport services in the U.S. and globally. Through NANO Nuclear, AFT is the exclusive licensee of a patented high-capacity HALEU fuel transportation basket developed by three major U.S. national nuclear laboratories and funded by the Department of Energy. HALEU Energy Fuel Inc. (HEF), a NANO Nuclear subsidiary, is focusing on the future development of a domestic source for a High-Assay, Low-Enriched Uranium (HALEU) fuel fabrication pipeline for NANO Nuclear’s own microreactors as well as the broader advanced nuclear reactor industry. NANO Nuclear Space Inc. (NNS), a NANO Nuclear subsidiary, is exploring the potential commercial applications of NANO Nuclear’s developing micronuclear reactor technology in space. NNS is focusing on applications such as the LOKI MMR™ system and other power systems for extraterrestrial projects and human sustaining environments, and potentially propulsion technology for long haul space missions. NNS’ initial focus will be on cis-lunar applications, referring to uses in the space region extending from Earth to the area surrounding the Moon's surface. For more corporate information please visit: https://NanoNuclearEnergy.com/ For further NANO Nuclear information, please contact: Email: [email protected] Tel: (212) 634-9206 PLEASE FOLLOW OUR SOCIAL MEDIA PAGES HERE: NANO Nuclear Energy LINKEDINNANO Nuclear Energy YOUTUBENANO Nuclear Energy X PLATFORM Cautionary Note Regarding Forward Looking Statements This news release, the webcast described herein and statements of NANO Nuclear’s management in connection with this news release contain or may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements related to future events, which may impact our expected future business and financial performance, and often contain words such as “expects”, “anticipates”, “intends”, “explore,” “plans”, “aim,” “goal,” “believes”, “potential”, “will”, “should”, “could”, “would” or “may” or derivations of these words and other words of similar meaning, although forward-looking statements may be denoted by other terms. In this press release, forward-looking statements include those regarding the Company’s development and regulatory (regarding its KRONOS microreactor) and commercial (including customer acquisition) plans. These and other forward-looking statements are based on information available to us as of the date of this news release and represent management's current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve significant known and unknown risks, uncertainties and other factors, which may be beyond our control. For NANO Nuclear, particular risks and uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements include but are not limited to the following: (i) risks related to our U.S. Department of Energy (“DOE”), U.S. Nuclear Regulatory Commission (“NRC”), Canadian Nuclear Safety Commission (“CNSC”) or related state or other U.S. or non-U.S nuclear licensing submissions, (ii) risks related the development of new or advanced technology and the acquisition of complementary technology or businesses, including difficulties with design and testing, cost overruns, regulatory delays, integration issues and the development of competitive technology, (iii) our ability to obtain key vendor, technology and customer contracts and the significant funding necessary to execute on our business plan, (iv) risks related to uncertainty regarding our ability to technologically develop and commercially deploy a competitive advanced nuclear reactor or other technology in the timelines we anticipate, if ever, (v) risks related to the impact of U.S. and non-U.S. government regulation, policies and licensing requirements, including by the DOE, and the NRC, including those associated with the recently enacted ADVANCE Act and the May 23, 2025 Executive Orders seeking to streamline nuclear regulation, and (vi) similar risks and uncertainties associated with the operating a developing business a highly regulated, competitive and rapidly evolving industry, including that our plans may change and we may use our cash on hand faster or in different ways than anticipated as our business requires. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement, and NANO Nuclear therefore encourages investors to review other factors that may affect future results in its filings with the SEC, which are available for review at www.sec.gov and at https://ir.nanonuclearenergy.com/financial-information/sec-filings. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law. Attachment Figure 1

NANO Nuclear Energy Inc. NNE is scheduled to release fiscal third-quarter results on Aug. 12, after market close. The Zacks Consensus Estimate is currently pegged at a loss of 28 cents per share. Fiscal third-quarter earnings estimates have improved 6.67% over the past 60 days. However, the bottom-line projection indicates a decrease of 47.37% from the year-ago number. Image Source: Zacks Investment Research NANO Nuclear Energy’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, resulting in the average positive surprise of 43.8%. Image Source: Zacks Investment Research Our proven model does not predict an earnings beat for NANO Nuclear Energy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the chances of an earnings beat. That is not the case here, as you can see below.You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.NNE’s Earnings ESP: NANO Nuclear Energy has an Earnings ESP of 0.00%.Zacks Rank of NNE: The company currently carries a Zacks Rank #3. Some companies in the same industry with the right combination of the two factors for an earnings surprise in the coming season are FuelCell Energy FCEL, Ameresco AMRC and Gevo Inc. GEVO. FCEL, AMRC and GEVO have an Earnings ESP of +17.95%, +6.51% and +200.00%, respectively. All three currently carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here. During the quarter, NANO Nuclear Energy announced that its subsidiary STS completed several DOE and NNSA-related nuclear logistics missions, including HALEU shipments from Japan and within the U.S., spent fuel transportation, and HEU removal support from Venezuela. The missions highlight STS’ capabilities in secure and compliant nuclear material transportation and are likely to have boosted fiscal third-quarter earnings.During the quarter, NANO Nuclear Energy said the NRC accepted the Construction Permit Application for its KRONOS MMR project at the University of Illinois, moving the microreactor into formal regulatory review. The company expects the review to conclude in 2027, potentially allowing construction to begin later that year and advancing the project toward commercial deployment.Uranium plays a vital role in the successful operation of nuclear power plants. NANO Nuclear Energy continues to advance vertical integration across the nuclear fuel cycle through acquisitions and partnerships focused on fuel facilities and transportation, helping address key supply-chain constraints. NNE’s shares have gained 4.6% in the past month against the Zacks Alternative Energy – Other industry’s decline of 2.7%. Image Source: Zacks Investment Research NANO Nuclear Energy is currently trading at a discounted valuation compared with its industry, with the price-to-book (P/B) TTM at 1.65X. The industry is currently trading at 3.42X. NANO Nuclear Energy’s advanced microreactor technology has strong potential to support the growing need for clean and reliable power. Its microreactor projects are progressing through various development stages and are expected to move toward commercial readiness around 2030, subject to successful testing and regulatory approvals.The company continues to advance its reactor programs through partnerships aimed at securing nuclear fuel supply, supporting testing and licensing, and ultimately enabling commercialization. Rising clean energy demand, along with constraints in expanding transmission and distribution infrastructure, could also increase the need for NANO Nuclear Energy’s portable microreactor solutions. NANO Nuclear Energy made several meaningful advances during the quarter that should help position it for future commercial reactor operations. It is also well placed to benefit from growing demand for dependable, clean energy, supported by AI data center expansion, increased electric vehicle adoption and rising power needs in remote locations.Considering NNE’s discounted valuation and strong share price performance, investors may want to consider adding the stock to their portfolios. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Nano Nuclear Energy Inc. (NNE) : Free Stock Analysis Report FuelCell Energy, Inc. (FCEL) : Free Stock Analysis Report Ameresco, Inc. (AMRC) : Free Stock Analysis Report Gevo, Inc. (GEVO) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

New York, N.Y., Aug. 05, 2026 (GLOBE NEWSWIRE) -- NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear” or “the Company”), a leading advanced nuclear micro modular reactor and technology company focused on developing clean energy solutions, today announced it will host its third quarter fiscal 2026 business update webcast on Wednesday, August 12, 2026, at 5:00 p.m. ET. The webcast will follow the anticipated filing of the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2026. Additional details will be available in the Investor Relations section of NANO Nuclear’s website at https://ir.nanonuclearenergy.com/. A replay of the webcast will be made available on NANO Nuclear’s website beginning shortly after the call that evening. About NANO Nuclear Energy, Inc. NANO Nuclear Energy Inc. (NASDAQ: NNE) is a North American advanced technology-driven nuclear energy company seeking to become a commercially focused, diversified, and vertically integrated company across five business lines: (i) cutting edge portable and other microreactor technologies, (ii) nuclear fuel supply chain, (iii) nuclear fuel transportation, (iv) nuclear applications for space and (v) nuclear industry consulting services. Led by a world-class nuclear engineering team, NANO Nuclear’s reactor products in development include the proprietary KRONOS MMR™ Energy System, a stationary high-temperature gas-cooled reactor that is in construction permit pre-application engagement U.S. Nuclear Regulatory Commission (NRC) in collaboration with University of Illinois Urbana-Champaign, “ZEUS”, a portable solid core battery reactor, and the space focused, portable LOKI MMR™, each representing advanced developments in clean energy solutions that are portable, on-demand capable, advanced nuclear microreactors. Advanced Fuel Transportation Inc. (AFT), a NANO Nuclear subsidiary, bolstered by the May 2026 acquisition of Secured Transportation Services (STS), is led by former executives from the largest transportation company in the world and provides nuclear engineering and materials transport services in the U.S. and globally. Through NANO Nuclear, AFT is the exclusive licensee of a patented high-capacity HALEU fuel transportation basket developed by three major U.S. national nuclear laboratories and funded by the Department of Energy. HALEU Energy Fuel Inc. (HEF), a NANO Nuclear subsidiary, is focusing on the future development of a domestic source for a High-Assay, Low-Enriched Uranium (HALEU) fuel fabrication pipeline for NANO Nuclear’s own microreactors as well as the broader advanced nuclear reactor industry. NANO Nuclear Space Inc. (NNS), a NANO Nuclear subsidiary, is exploring the potential commercial applications of NANO Nuclear’s developing micronuclear reactor technology in space. NNS is focusing on applications such as the LOKI MMR™ system and other power systems for extraterrestrial projects and human sustaining environments, and potentially propulsion technology for long haul space missions. NNS’ initial focus will be on cis-lunar applications, referring to uses in the space region extending from Earth to the area surrounding the Moon's surface. For more corporate information please visit: https://NanoNuclearEnergy.com/ For further NANO Nuclear information, please contact: Email: [email protected] Tel: (212) 634-9206 PLEASE FOLLOW OUR SOCIAL MEDIA PAGES HERE: NANO Nuclear Energy LINKEDINNANO Nuclear Energy YOUTUBENANO Nuclear Energy X PLATFORM Cautionary Note Regarding Forward Looking Statements This news release, the webcast described herein and statements of NANO Nuclear’s management in connection with this news release contain or may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements related to future events, which may impact our expected future business and financial performance, and often contain words such as “expects”, “anticipates”, “intends”, “explore,” “plans”, “aim,” “goal,” “believes”, “potential”, “will”, “should”, “could”, “would” or “may” or derivations of these words and other words of similar meaning about the future. These and other forward-looking statements are based on information available to us as of the date of this news release and represent management's current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve significant known and unknown risks, uncertainties and other factors, which may be beyond our control. For NANO Nuclear, particular risks and uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements include but are not limited to the following: (i) risks related to our U.S. Department of Energy (“DOE”), U.S. Nuclear Regulatory Commission (“NRC”), Canadian Nuclear Safety Commission (“CNSC”) or related state or other U.S. or non-U.S nuclear licensing submissions, (ii) risks related the development of new or advanced technology and the acquisition of complementary technology or businesses, including difficulties with design and testing, cost overruns, regulatory delays, integration issues and the development of competitive technology, (iii) our ability to obtain contracts and funding to be able to continue operations, (iv) risks related to uncertainty regarding our ability to technologically develop and commercially deploy a competitive advanced nuclear reactor or other technology in the timelines we anticipate, if ever, (v) risks related to the impact of U.S. and non-U.S. government regulation, policies and licensing requirements, including by the DOE, and the NRC, including those associated with the recently enacted ADVANCE Act and the May 23, 2025 Executive Orders seeking to streamline nuclear regulation, and (vi) similar risks and uncertainties associated with the operating a developing business a highly regulated, competitive and rapidly evolving industry, including that our plans may change and we may use our cash on hand faster or in different ways than anticipated as our business requires. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement, and NANO Nuclear therefore encourages investors to review other factors that may affect future results in its filings with the SEC, which are available for review at www.sec.gov and at https://ir.nanonuclearenergy.com/financial-information/sec-filings. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.

Interested in Ameresco, Inc.? Here are five stocks we like better. Ameresco reported strong Q2 growth, with revenue up 9% year over year to $515 million, adjusted EBITDA up 12% to $62.8 million, and non-GAAP EPS of $0.20. The company raised its 2026 non-GAAP EPS outlook to $1.15–$1.35 while reaffirming broader full-year guidance. New project awards reached a record $1.8 billion, driven by $1.2 billion in data center-related power infrastructure. Awarded backlog climbed 65% to $4.4 billion, while total project backlog rose 32% to $6.7 billion. Ameresco’s data center pipeline includes five awarded projects representing more than 1 gigawatt of power generation, but meaningful revenue is not expected until 2028–2030. The company also expanded its operating energy asset base to 822 MW and maintained leverage below its covenant at 3.2 times. NANO Nuclear Energy: Short-Squeeze or Rapid Meltdown Ahead Ameresco (NYSE:AMRC) reported second-quarter 2026 revenue of $515 million, up 9% from a year earlier, while highlighting a record $1.8 billion in new project awards led by data center-related power infrastructure projects. Chairman and Chief Executive Officer George Sakellaris described the quarter as “transformational,” citing $1.2 billion of data center awards and $600 million of awards across the company’s other markets. The company also completed its Neogenyx joint venture with HASI, brought major battery storage and solar projects online, and reorganized around two market pillars: Power Infrastructure and Buildings & Public Infrastructure. → Lost in Space: Why Aerospace Valuations Are Plummeting Right Now Ameresco said awarded project backlog rose 65% year over year to a record $4.4 billion, contributing to a 32% increase in total project backlog to $6.7 billion. Chief Financial Officer Mark Chiplock said the company expects to convert that backlog over the next three to four years, although timing will depend on commercial, permitting, procurement, financing and execution milestones. The company added three data center projects to awarded backlog during the quarter, bringing the total to five projects, excluding the Lemoore Data Center in its energy assets portfolio. The projects expanded Ameresco’s data center footprint into Texas and Arizona and collectively represent more than 1 gigawatt of power generation, according to Co-President Nicole Bulgarino. → MarketBeat Week in Review – 07/27- 07/31 The company’s proposed solutions include reciprocating engines, gas turbines, fuel cells, battery energy storage systems and integrated microgrids. Bulgarino said Ameresco is concentrating on on-site power solutions and working with developers, operators, hyperscalers, capital providers and other participants in the data center ecosystem. During the question-and-answer session, Sakellaris said the projects currently included in awards represent only part of the potential scope. He said the current awards could grow to roughly $2 billion as development progresses and additional phases are defined. The company is also evaluating at least as many additional data center opportunities as the five currently in awarded backlog, he said. → GE HealthCare Stock Climbs on Vital Diagnostics Demand Ameresco said data center awards generally could move from the awarded category into contracted backlog within six to 24 months. Sakellaris said the company does not expect a major revenue contribution from the data center projects until 2028 through 2030, though there could be a smaller impact in 2027. Once contracted, large and complex projects may require up to three years of implementation, particularly where a data center campus is developed in multiple phases. Chief Investment Officer Josh Baribeau said revenue from the data center work is expected to be recognized under the company’s normal engineering, procurement and construction, or EPC, revenue model rather than through asset sales. Sakellaris said margins on the projects are expected to be similar to Ameresco’s federal EPC work, in the high teens. Project revenue increased 6% to $381 million in the quarter, supported by federal and North American activity as well as the company’s European joint venture. Energy asset revenue rose 21% to $76 million, while operations and maintenance revenue increased 29%. Ameresco placed an additional 32 megawatts into operation during the quarter. Its operating energy asset base reached 822 MW, with another 513 MW in development for construction. Those figures reflect Ameresco’s 70% ownership interest in the Neogenyx joint venture. The company said it now provides operations and maintenance services for more than 2.5 gigawatts of third-party solar and battery storage assets. Long-term operations and maintenance backlog exceeded $1.5 billion. Gross margin was 17.7%, improving both sequentially and from a year earlier. Net income attributable to common shareholders was $9.7 million, or $0.18 per diluted share. Non-GAAP earnings per share were $0.20. Adjusted EBITDA increased 12% to $62.8 million. Chiplock said earnings per share reflected higher depreciation and interest expense related to growth in the energy asset portfolio, as well as a lower tax benefit and the non-controlling interest effect of the Neogenyx transaction. Ameresco ended the quarter with $138 million in unrestricted cash and $385 million of total corporate debt. Corporate leverage was 3.2 times, below its 3.5-times covenant, Chiplock said. The company secured $471 million of new financing commitments during the quarter, including $400 million associated with Neogenyx. Sakellaris said the partnership with HASI has provided capital flexibility and has also generated additional development and potential project acquisition opportunities. Ameresco said it may consider another capital vehicle similar to Neogenyx to support large data center opportunities if the right partner and economics emerge, but it did not announce a specific transaction. The company reaffirmed its full-year 2026 guidance across its metrics and raised its non-GAAP earnings-per-share outlook to a range of $1.15 to $1.35. Chiplock said the increase reflects an expected tax benefit rate of 25% to 40%, supported by a planned second-half transition to a new accounting policy for transferable tax credits. Under the new approach, Ameresco expects to recognize investment tax credit benefits in the period in which they are generated rather than spreading the benefit across the life of related assets. Prior-period results will be recast once the policy is adopted. For the second half, Ameresco expects its typical seasonal pattern, with activity weighted somewhat more heavily toward the fourth quarter. The company said continued project execution, backlog conversion, cash conversion efforts and cost management will support its outlook. Ameresco, Inc is a leading independent provider of comprehensive energy efficiency and renewable energy solutions for businesses and governments across North America, Europe and other select markets. Its integrated services portfolio includes energy efficiency retrofits, infrastructure upgrades, distributed generation systems and facility-scale renewable projects. Leveraging performance-based contracting models, Ameresco designs, finances, installs and maintains energy improvements intended to reduce operational costs, mitigate environmental impact and enhance resiliency for its clients. Founded in 2000 and headquartered in Framingham, Massachusetts, Ameresco has completed thousands of projects spanning solar, wind, geothermal, biomass, landfill gas‐to‐energy, energy storage and microgrid installations. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Ameresco Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Download the Complete Report Here Key Takeaways: 1Q26 showed progress across IMSR’s key commercialization vectors, with regulatory, DOE program, supply-chain, commercial pipeline, and liquidity milestones collectively advancing the de-risking narrative. IMSR continues to execute against a milestone-driven roadmap that is more appropriately measured by regulatory progress, project pipeline development, fuel readiness, supply-chain qualification, and cash runway than by near-term revenue. The quarter advanced all three of management’s stated pillars: IMSR engineering and regulatory programs, including DOE-backed TETRA and TEFLA projects; supply-chain development, including materials testing and supplier execution; and commercial pipeline expansion, led by the Riot Platforms collaboration. The company reported a 1Q26 net loss of $10.5 million, ended the quarter with $289.9 million of cash and investments, and reported quarterly cash burn of $7.9 million, while expanding its commercial pipeline to ~10 IMSR Plant projects representing 7.8GW of indicative power capacity. NRC approval of the PIE Topical Report adds another foundational element to IMSR’s licensing basis. In May, the NRC issued its Safety Evaluation Report approving IMSR’s Postulated Initiating Events methodology, following acceptance of the company’s final submission in April 2026. The approval validates IMSR’s framework for identifying and evaluating events that could challenge safe plant operation, making it a core safety-analysis milestone rather than a process update. Importantly, approved Topical Reports can be referenced in future operating license applications without repetitive re-evaluation, reducing review scope and supporting standardized outcomes across multiple IMSR deployments. The PIE approval builds on the NRC’s September 2025 approval of IMSR’s Principal Design Criteria, which addressed foundational safety and design requirements, including inherent safety, reactor power control, and load-following capability. The regulatory pathway is increasingly defined around operating-license readiness and repeat deployment. Construction permits enable large-scale plant construction and address major environmental requirements, while operating-license preparedness determines whether the nuclear systems satisfy safety standards for commercial operation. IMSR’s Topical Reports are most relevant to the latter because they resolve foundational safety analyses that can be reused in future applications. The company remains primarily focused on NRC Part 53 as the more practical pathway for initial IMSR deployment and fleet-scale licensing, while Part 57 appears more relevant to microreactors, with only limited potential applicability around waste-related provisions. DOE-backed TETRA and TEFLA advance two critical workstreams: reactor validation and fuel readiness. During the quarter, IMSR completed OTA contracts with the U.S. Department of Energy for Project TETRA, its reactor pilot project, and Project TEFLA, its fuel line pilot project. TETRA supports engineering and regulatory work for future IMSR Plant commercial operation, while TEFLA supports the infrastructure needed for IMSR fuel supply. Together, the programs address two gating items for advanced nuclear commercialization: licensing-quality reactor data and scalable fuel production capability. While traction is still programmatic rather than revenue-generating, successful execution should reduce schedule risk, strengthen NRC engagement, improve customer confidence, and support future fleet economics. Riot partnership creates a scalable data-center channel and expands IMSR’s commercial pipeline. In May, Terrestrial Energy and Riot Platforms announced a collaboration to develop co-located IMSR nuclear plants and hyperscale data centers for AI and high-performance compute applications. The partnership contemplates multiple 390MW IMSR Plants representing up to 4GW of nuclear capacity across U.S. candidate sites, including existing Riot facilities in Texas and Kentucky. The structure combines Riot’s hyperscale data-center development, operations, marketing, and leasing expertise with IMSR’s reactor design and licensing capabilities, creating a repeatable nuclear-plus-data-center template rather than a single-site project. IMSR’s physically separated non-nuclear energy conversion systems also enable hybrid configurations, including natural gas as a bridge fuel, which could accelerate commercial power availability and improve resiliency during project development. Collectively, 1Q26 strengthened the case that IMSR is moving from technology validation toward commercial deployment. The quarter connected regulatory progress, DOE-backed reactor and fuel programs, supply-chain qualification, and commercial origination into a clearer execution path. This matters because demand for clean, firm power continues to rise from AI infrastructure, reshoring, manufacturing electrification, and energy security needs. IMSR’s differentiated design directly addresses those use cases: the plant is roughly one-sixth the size of a conventional nuclear plant, uses turbines operating at nearly 50% greater efficiency than light-water-reactor-driven turbines, operates at low pressure, and relies on standard-assay uranium enriched to less than 5% U-235 rather than HALEU. These attributes support the core customer and financing proposition: lower deployment complexity, stronger fuel availability, improved affordability, and a more scalable path to repeat deployment. Additional IMSR project announcements remain an important 2026 commercialization catalyst. IMSR reaffirmed its expectation to announce 1-3 additional IMSR projects during 2026, with the Riot MOU representing progress against that target. Further site or strategic partner disclosures would help validate demand beyond a single data-center channel, increase visibility into pipeline quality, and provide investors with clearer evidence that IMSR’s commercial origination efforts are moving from broad market interest toward specific deployment opportunities. Fuel strategy remains a core IMSR differentiator, with TEFLA converting standard-fuel availability into a practical commercial supply pathway. IMSR uses standard-assay LEU enriched to less than 5% U-235, avoiding the HALEU enrichment levels of 15–20% required by many Generation IV peers and reducing exposure to commercial-scale HALEU supply constraints. TEFLA is therefore strategically important because enrichment is only the first step in IMSR’s fuel chain; the final reactor feed is IMSR fuel salt, requiring deconversion into uranium tetrafluoride and additional chemical production steps to meet licensed purity requirements. By developing this fuel-line process at pilot scale, TEFLA supports first-plant readiness, reduces fuel-supply execution risk, and strengthens the long-term recurring revenue opportunity tied to fuel supply and Core-unit services. Financial performance reflected planned execution spending, with sequential comparisons more useful given IMSR’s 2025 business transformation. IMSR reported a 1Q26 net loss of $10.5 million, compared with a $6.2 million net loss in 4Q25, as the company continued scaling fuel development, graphite testing, public-company infrastructure, and commercialization resources. On a sequential basis, R&D increased by $1.0 million, driven by fuel development and graphite testing programs, while G&A increased by $4.6 million, primarily reflecting headcount and stock-based compensation as IMSR builds out its public-company team. On a y/y basis, R&D increased by $3.2 million and G&A increased by $4.0 million, while other income and expense improved by $2.8 million due to lower interest expense and higher interest and dividend income. The spending ramp appears intentional and milestone-linked rather than reflective of operating inefficiency, with incremental investment directed toward the workstreams that matter most for commercialization: NRC engagement, fuel development, graphite testing, supplier qualification, and project origination. Cash burn remained controlled, and the balance sheet provides runway for milestone execution. IMSR ended 1Q26 with $289.9 million of cash and short-term investments, compared with $297.8 million at year-end, implying quarterly cash burn of $7.9 million. Burn increased $1.8 million sequentially after adjusting for one-time merger-related transaction costs, driven by a $0.6 million discretionary bonus payment, a $1.0 million accounts payable paydown to vendors offering extended credit terms, and $0.2 million of higher R&D payments. Share count increased by only ~100,000 shares from stock option exercises, leaving dilution minimal, while the balance sheet remains clean with limited liabilities, modest lease obligations, and no debt. Long-term unit economics remain compelling despite IMSR’s current pre-revenue stage. Management estimates that each IMSR Plant represents approximately $2.1 billion of cumulative revenue opportunity over a 60+ year plant life, including pre-construction services ($75 million), construction services and component procurement ($486 million), IMSR Core-unit supply and services ($1.148 billion), and IMSR fuel supply and services ($389 million). The model generates $774 million during the approximately four-year construction and commissioning phase, followed by $1.324 billion during the 56-year operating life, creating both upfront project revenue and long-duration recurring revenue after commercial operation begins. Revenue mix supports an annuity-like model anchored in Core-unit and fuel services. Management estimates a blended gross margin of approximately 22%, with pre-construction engineering services at 31%, construction services and component procurement at 27%, and Core-unit supply and fuel services each at 20%. Core-unit and fuel services together represent 74% of total plant-life revenue, or approximately $1.537 billion, with $1.324 billion generated over the operating life. This shifts IMSR’s model from episodic construction revenue toward recurring, multi-decade cash flows tied to fuel supply and Core-unit replacement cycles. IMSR’s current valuation reflects limited pricing of long-term commercialization potential relative to its business combination with HCM II Acquisition Corp. The following analysis is illustrative and not intended as a price target or investment recommendation but highlights the disconnect between current valuation and potential value creation as key milestones are achieved. IMSR currently trades at a material discount to the valuation implied at the time of its October 2025 business combination. At closing, the transaction implied a pro forma equity value of approximately $1.06 billion, based on ~105.8 million shares outstanding at $10.00 per share. As of May 15, 2026, IMSR’s equity market capitalization stands at approximately $772 million, representing a ~27% discount from the transaction reference value. Enterprise value provides a more appropriate basis for valuation at this stage of development. Adjusting for ~$290 million of cash and short-term investments, IMSR’s current enterprise value is approximately $482 million. In effect, the market is attributing less than $500 million of value to IMSR’s operating platform, intellectual property, regulatory progress, fuel strategy, and project pipeline, despite more than a decade of development and recent progress across NRC approval of the PIE Topical Report, completed DOE OTA contracts for TETRA and TEFLA, and the Riot data-center collaboration. Current valuation reflects execution and timeline risk despite a capital-light model supporting more efficient long-term value creation. This valuation primarily reflects a discount for time-to-commercialization and execution risk rather than a reassessment of the long-term addressable opportunity. IMSR’s capital-light model, focused on design, component supply, and fuel provision rather than plant ownership, should enable more efficient capital deployment than traditional nuclear developers. IMSR remains pre-revenue, with first commercial plant operations targeted for 2034, and near-term financials are expected to reflect elevated R&D and public company costs. However, the company has differentiated itself within the Generation IV nuclear landscape through commercially available SALEU fuel, completion of the Canadian Nuclear Safety Commission’s Vendor Design Review, advancing NRC engagement, and DOE-supported programs addressing licensing, reactor validation, and fuel readiness. Relative valuation comparisons underscore this dynamic. Established Generation III nuclear operators trade at significantly higher enterprise values supported by operating fleets and stable cash flows, while Generation IV developers trade at materially lower valuations reflecting pre-revenue status and development risk. As advanced nuclear technologies progress toward commercialization, valuation outcomes are likely to increasingly differentiate based on regulatory readiness, fuel availability, and execution credibility. In this context, IMSR’s valuation can be viewed as a long-duration option on regulatory and project execution, supported by a substantial cash balance providing multi-year runway. Bottomline: At $482 million of enterprise value, IMSR reflects significant execution and timeline risk while offering asymmetric upside to regulatory and commercialization milestones, supported by a multi-year cash runway. 2026 remains milestone-driven, with progress across NRC licensing, TETRA, TEFLA, fuel readiness, Riot/data-center origination, and flagship project development as key drivers of potential re-rating. Download the Complete Report Here Read Exec Edge’s Initiation on Terrestrial Energy Here Subscribe to our Weekly Newsletter to Receive All Research Contact: Executives-Edge.com [email protected]

This article first appeared on GuruFocus. Release Date: May 14, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Nano Nuclear Energy Inc (NASDAQ:NNE) has submitted a construction permit application for its Kronos MMR to the U.S. NRC, marking a significant milestone in its development process. The company has a strong financial position with approximately $569 million in cash, cash equivalents, and short-term investments. NNE is advancing strategic partnerships, including a collaboration with Supermicro and a joint venture with EHC Investment, to enhance commercialization and deployment opportunities. The Kronos MMR design benefits from a superior safety profile, using helium and inert gas as coolant and TRISO fuel, which enhances its deployment potential. NNE is focusing on vertical integration across the nuclear fuel cycle, which is expected to provide competitive advantages and enhance long-term reactor economics. The company faces potential delays in the licensing process, as the acceptance of the construction permit application by the NRC is still pending. NNE's net loss increased to $9.2 million in Q2, reflecting higher expenses associated with advancing the Kronos MMR development. The company anticipates higher expenses in the future as it scales its team and initiates procurement for long lead items. There are uncertainties around the timing and success of securing non-dilutive funding opportunities to support its projects. The transportation of nuclear fuel and materials is identified as a potential bottleneck, requiring further development of in-house capabilities and partnerships. Warning! GuruFocus has detected 6 Warning Signs with GENK. Is NNE fairly valued? Test your thesis with our free DCF calculator. Q: Regarding the Barupon feasibility study, can you provide more detail around the potential timing of that one gigawatt of capacity and what the next steps look like from here? A: James Walker, CEO: We've completed the feasibility study and are now discussing the next stage, which involves examining the licensing requirements. This will include drilling and gathering geotechnical work for a construction permit application at the Barupon site. Once the construction permit is approved, we can start site preparation, with the process dependent on the licensing at UIUC. Q: Can you provide more details about the non-dilutive funding opportunities you are evaluating? A: Jason Garcha, CFO: We are looking at government programs or incentives such as DOE fuel under project qualifications, ITCs, and potential avenues with the state and universities. While we haven't quantified the exact amounts, these opportunities could provide additional financial flexibility. Q: The new regulatory pathways for the NRC, Parts 53 and 57, is that something that could expedite UIUC or is it more of a commercial opportunity? A: James Walker, CEO: Part 57 is particularly important commercially as it focuses on fleet deployment of microreactors, aligning construction and licensing processes. While it may not expedite UIUC, it is crucial for future mass deployment of reactor systems. Q: Any idea on when the CPA will be accepted and does the 12-month timeline start from acceptance? A: James Walker, CEO: The formal acceptance of the CPA is expected imminently, possibly from today to early next week. The 12-month review period for construction permission will start once it is formally accepted. Q: Are you looking at transportation partners specifically for transferring nuclear fuel? A: James Walker, CEO: We are in late-stage discussions for acquisitions to enhance our in-house capabilities for nuclear material transportation, which is crucial for reactor deployment and refueling. Announcements on this are expected soon. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Interested in Nano Nuclear Energy Inc.? Here are five stocks we like better. Kronos micro modular reactor development advanced as Nano Nuclear said the University of Illinois Urbana-Champaign submitted a construction permit application to the NRC, marking a key step toward construction and commercialization. The company expects an approximate 12-month review once accepted, with initial construction potentially starting in mid-to-late 2027. The company highlighted growing commercial opportunities for Kronos, including a feasibility study with BaRupOn for up to 1 GW of AI data center power in Texas and partnerships with Supermicro, EHC Investment, and DS Dansuk to support AI infrastructure, Gulf-region expansion, and South Korea deployment efforts. Nano Nuclear ended the quarter with about $569 million in cash and short-term investments, giving it flexibility to fund development even as second-quarter net loss widened to $9.2 million. Management said spending will likely rise as the company expands headcount, procurement, and engineering activity. NANO Nuclear Energy: Short-Squeeze or Rapid Meltdown Ahead Nano Nuclear Energy (NASDAQ:NNE) said it continues to advance its Kronos micro modular reactor program, highlighting a recent construction permit application tied to a planned deployment at the University of Illinois Urbana-Champaign, a strong cash position and expanding commercial discussions across data centers, international markets and the nuclear fuel cycle. Founder, Chairman and President Jay Jiang Yu said the company remains focused on vertical integration across key parts of the nuclear fuel cycle while advancing Kronos toward construction, licensing and commercialization. He described Kronos as a high-temperature gas-cooled reactor design supported by prior development work and operating history for similar reactor technologies. → Micron Investors Face a High-Stakes Moment After the Latest Rally 2 Under-the-Radar Energy Stocks to Watch for AI Demand in 2026 Yu said the University of Illinois’ formal submission of a construction permit application to the U.S. Nuclear Regulatory Commission under Part 50 marked a significant milestone for the company. He said the filing followed years of pre-licensing activity, thousands of pages of technical documentation and months of engagement with the NRC. Chief Executive Officer James Walker said the construction permit application for the company’s first full-scale Kronos MMR prototype represented a transition from engineering design toward construction planning at the University of Illinois campus. → How Bad Could Tesla’s Cybertruck Recall Be for Shares? Who Won and Who Lost in Nuclear Energy’s Q2 Earnings Walker said Nano Nuclear expects an approximately 12-month review period after formal acceptance of the application. In response to an analyst question, he said formal acceptance was expected “imminently,” while noting that the company could not speak for the NRC. If accepted and reviewed on the expected timeline, the company said initial construction activities could begin in mid-to-late 2027. Walker said the company’s technical team has shifted its attention to supply chain work after completing the permit application. That includes discussions around reactor vessels, graphite, fuel fabrication, helium circulators and non-nuclear components such as turbine systems and mechanical systems. → Reading the Stripes: Is The Industrial Recession Over? Asked about cost estimates for the University of Illinois project, Walker said the company’s prior estimate of $300 million to $350 million for the first-of-a-kind full-scale reactor system remained accurate based on current discussions. He cautioned that the figure would not represent the cost of later “Nth-of-a-kind” units, because the initial reactor includes bespoke elements. The company also discussed its previously announced work with BaRupOn on a feasibility study evaluating up to 1 gigawatt of power generation using the Kronos MMR platform for an AI data center and manufacturing campus in Texas. Yu said the feasibility study confirmed that Kronos could be designed to reach BaRupOn’s desired 1 GW power needs in stages over time. Walker said the parties are now discussing the next phase, including licensing requirements and site-specific work such as drilling and geotechnical studies that would support a construction permit application for the site. Walker said the University of Illinois deployment is expected to produce a licensed commercial reactor product that could then be used in future deployments, while individual sites would still require their own licensing and site approval processes. He said future applications could potentially benefit from a more efficient review once the reactor is a known quantity with the NRC. In response to a question about BaRupOn’s tenant pipeline, Walker said BaRupOn was in due diligence with two major hyperscalers. He added that BaRupOn has other potential sites beyond Texas and said Nano Nuclear is “earmarked” to provide nuclear power for those potential developments as well. Executives highlighted several recent memorandums of understanding intended to support commercialization and deployment opportunities. Supermicro: Walker said the company’s MOU with Supermicro focuses on exploring the integration of Kronos with AI server and data center platforms, joint go-to-market strategies and off-grid deployment opportunities for AI infrastructure. EHC Investment: Walker said the Abu Dhabi-based investment holding company could support a potential joint venture in the Gulf region, including market entry evaluation, localized supply chain development, host site identification and stakeholder engagement. DS Dansuk: Yu said the collaboration is aimed at supporting deployment and localization efforts in South Korea, including the potential development of reactor core manufacturing and component production capabilities. Yu said the company is also advancing discussions around M&A and partnerships tied to the nuclear fuel supply chain, including nuclear fuel transportation and fuel supply chain facilities. Walker said the company is in late-stage discussions regarding transportation-related capabilities, describing transportation of nuclear materials and fuel as a potential bottleneck for broader industry deployment. Walker said proposed and emerging NRC licensing pathways, including Part 53 and Part 57, could be important for the broader advanced nuclear industry. He said Part 57 is particularly relevant for microreactors because it is focused on fleet deployment and could support the commercialization of standardized reactor systems at scale. However, Walker said Nano Nuclear does not expect those newer pathways to materially change the University of Illinois project because the company was already far along under its existing Part 50 process. He said the commercial benefit would be more meaningful for future deployment of multiple reactor systems. In its financial update, the company said it ended the quarter with approximately $569 million in cash equivalents and short-term investments, down slightly from the prior quarter as it continued funding Kronos development and related fuel cycle initiatives. The company said its previously filed $900 million shelf registration statement became effective during the quarter, including a $400 million at-the-market facility. Management said it has not used the shelf or ATM and does not view them as reflecting immediate financing needs, but said they provide flexibility to access capital opportunistically. Second-quarter net loss totaled $9.2 million, up about $3 million from the prior quarter. The company said the increase primarily reflected higher headcount and related expenses as it advanced Kronos development and licensing, while also pursuing strategic growth opportunities. Compared with the prior-year period, net loss declined by about $12 million, which the company attributed primarily to higher interest income and lower equity-based compensation. Management said expenses are expected to trend higher as Nano Nuclear scales its team and begins procurement of long-lead items and testing equipment tied to its engineering and demonstration facility. NANO Nuclear Energy, Inc is a microreactor and nuclear technology company, which provides supply energy services. Its products in technical development are ZEUS, a solid core battery reactor, and ODIN, a low-pressure coolant reactor. The company is founded by Jiang Yu in February, 2022 and is headquartered in New York, NY. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Nano Nuclear Energy Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for May 2026.