4Q24 Revenue: $34.2M, +643.5% YoY, beat estimates by $28.6M
4Q24 Net Loss: $180.3M
FY25 Guidance: Expects revenue of $52M by FY25 and to receive NRC approval for a power upgrade by mid-2025.
Comment: NuScale Power reported fourth-quarter revenue of US$34.2mn, significantly exceeding analyst estimates of US$5.63mn, driven by activities supporting the RoPower project. While the company incurred a net loss of US$180.3mn for the quarter, this included a substantial non-cash expense of US$170mn related to warrant valuations. Throughout 2024, NuScale made significant strides in strengthening its financial position and advancing its Small Modular Reactor (SMR) technology. Full-year revenue reached US$37mn, with a net loss of US$348.4mn, largely attributed to non-cash accounting adjustments. Notable achievements include progress on Romania’s RoPower project, expansion of its supply chain, and increased power module output for enhanced efficiency. With rising demand for clean energy solutions, NuScale is strategically positioned to support AI data centers and hydrogen production.Backed by bipartisan support for nuclear energy, the company ended the year with US$446.7mn in cash.For FY25, NuScale anticipates revenue of US$52mn. Looking ahead, the company aims to scale commercialization and expand its customer base to meet the growing demand for clean energy. 1Q25recommended trading range: $14 to $15. Neutral Outlook.
4Q25 Revenue: $682M, +12.7% YoY, beat estimates by $12.9M
4Q25 Non-GAAP EPS: $0.78 beat estimates by $0.04
1Q26 Guidance: Expects adjusted earnings per share of $0.76 to $0.77 on revenue of $678M to $680M, both figures ahead of the $0.70 per share and revenue of $669.4M expected by analysts.
FY26 Guidance: Expects $3.15 to $3.20 per share and revenue of $2.85B to $2.86B coming in ahead of the analyst forecast of $2.94 per share and revenue of $2.8B.
Comment: Okta delivered strong Q4 and FY25 results, beating revenue and earnings expectations. Q4 revenue rose 13% YoY to US$682mn, while adjusted EPS reached US$0.78. For FY25, revenue grew 15% to US$2.61bn, with EPS nearly doubling to US$2.81. Okta introduced new security solutions and AI integrations, enhancing its identity management offerings. Its Identity Governance solution surpassed 1,300 customers and US$100mn in annual contract revenue. The company provided an upbeat FY26 outlook, forecasting revenue of up to US$2.86bn and EPS of US$3.20, both above analyst estimates. Looking ahead, Okta forecasts FY26 first quarter adjusted EPS of US$0.76 to US$0.77 on revenue of US$678mn to US$680mn, beating analyst expectations. In the evolving technological landscape where cyberthreats are becoming more advanced, solutions provided by Okta will stand to benefit from the rising demand to combat such threats. 1Q26recommended trading range: $90 to $110. Positive Outlook.
4Q25 Revenue: $211.4M, +29.1% YoY, beat estimates by $4.92M
4Q25 Non-GAAP EPS: $0.33, beat estimates by $0.10
1Q26 Guidance: Expects revenue to be between $212.0M – $213.0M and non-GAAP diluted net income per share to be $0.14 – $0.15
FY26 Guidance: Expects revenue of $936M – $942M and non-GAAP diluted net income per share to be $0.68 – $0.72.
Comment: GitLab delivered strong Q4 results, beating earnings and revenue expectations while achieving profitability. Revenue grew 29% YoY to US$211.4mn, and EPS of US$0.33 exceeded forecasts. However, the company issued conservative guidance for FY26, below Wall Street’s estimates. Leadership transitions continue, with Bill Staples as CEO and new executive appointments. GitLab is leveraging AI through its DevSecOps platform to enhance software security and speed. For FY26, the company expects to deliver revenue of between US$212mn and US$213mn and full-year revenue guidance of between US$936mn – US$942mn. Despite near-term uncertainty, its innovation-driven strategy and AI integration position it for long-term growth in the evolving software development landscape. 1Q26 recommended trading range: $54 to $62. Neutral Outlook.
