Standard Nuclear, Inc.

Standard Nuclear, Inc. reported its first quarter of meaningful commercial fuel sales, shipping a 50-kilogram batch of HALEU TRISO fuel to Radiant Industries and completing delivery of the full core load for Radiant's first microreactor. The company's total contract backlog surged from $91.3 million at March 31 to $241.5 million at June 30, and after an August fuel supply agreement with Antares Nuclear, total backlog reached $576.9 million, including a firm commitment of 1 metric ton of TRISO fuel with an option for up to 7 additional metric tons. Revenue for Q2 was $4.7 million, with $3.1 million from product deliveries and $1.6 million from services, yielding a gross profit of $3.2 million and a 67% gross margin. Management targeted authorization to operate the SN-TN and SN-ID sites for the fourth quarter of 2026 and the start of production at Richland through its Framatome joint venture in 2027, while declining to provide formal financial guidance. The company ended the quarter with $102.2 million in cash and no debt, and net loss narrowed to $3.4 million, or $0.12 per share, from $7.7 million in the first quarter.