Quarterly ResultJun 4, 2026, 06:12 AM

X-Energy Q1 Revenue $43.4M; Net Loss $166.2M; Completes IPO

AI Summary

X-Energy, Inc. reported a significant increase in total revenues and grant income to $43.4 million for the first quarter of 2026, up from $20.8 million in the prior year. However, the company's net loss widened substantially to $166.2 million, primarily driven by a $108.9 million mark-to-market loss on warrant liabilities. Subsequent to the quarter, X-Energy, Inc. successfully completed its Initial Public Offering and related Reorganization Transactions, which also led to a significant reduction in warrant liabilities. The company also saw a substantial decrease in cash and cash equivalents and an increase in cash used in operating and investing activities.

Key Highlights

Completed Initial Public Offering (IPO) on April 27, 2026, becoming the parent holding company.
Total revenues and grant income increased 108.7% to $43.4 million for Q1 2026, from $20.8 million in Q1 2025.
Net loss widened to $166.2 million in Q1 2026, compared to a net loss of $10.2 million in Q1 2025.
Operating loss increased to $66.1 million in Q1 2026, up from $26.3 million in Q1 2025.
Warrant liabilities decreased to $17.9 million from $274.2 million due to conversion into Series C-1 Preferred Units.
Cash and cash equivalents decreased to $224.1 million as of March 31, 2026, from $458.9 million.
Net cash used in operating activities increased to $67.3 million in Q1 2026, from $41.9 million.
U.S. Government and Dow accounted for 96% of total revenue and grant income in Q1 2026.

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Fabricated Plate Work (Boiler Shops)

X-Energy, Inc.

Price Impact