OKLO

1. Key Historical Highlights

• June 17, 2025: Oklo Inc. begins site characterization work for a commercial radioisotope production facility at Idaho National Laboratory.
• June 12, 2025: Announced pricing of public offering of 6,666,667 shares of Class A common stock at $60.00 per share, expecting to raise approximately $400 million.
• June 11, 2025: Selected as intended awardee to provide clean power to Eielson Air Force Base in Alaska, part of a microreactor pilot project.
• May 28, 2025: Supported executive orders to advance U.S. nuclear energy leadership and fuel security, emphasizing recycling nuclear material into clean energy.
• May 13, 2025: Completed site characterization borehole drilling for its first Aurora powerhouse at Idaho National Laboratory.
• May 13, 2025: Announced the appointment of Pat Schweiger as Chief Technology Officer.
• April 22, 2025: Sam Altman steps down as Chairman, Jacob DeWitte takes over, focusing on energy solutions for the AI sector.
• March 24, 2025: Engaging with the NRC for a Pre-Application Readiness Assessment, aiming for a streamlined regulatory process.
• March 20, 2025: Signed Interface Agreement with Idaho National Laboratory, advancing environmental review for its first commercial powerhouse.
• March 5, 2025: Closed acquisition of Atomic Alchemy, enhancing radioisotope production capabilities.
• February 25, 2025: Collaborated with DOE and Oak Ridge National Laboratory to advance next-generation materials development.
• January 28, 2025: Signed MOU with Lightbridge to explore co-location of commercial fuel fabrication facilities.
• December 18, 2024: Entered a Master Power Agreement with Switch to deploy 12 gigawatts of advanced nuclear power.
• November 14, 2024: Announced the proposed acquisition of Atomic Alchemy to expand into the radioisotope market.
• November 13, 2024: Secured partnerships for up to 750 megawatts of power for U.S. data centers.
• October 7, 2024: Completed environmental compliance process for site characterization of its commercial powerhouse in Idaho.
• September 25, 2024: Finalized agreement with DOE to advance to the next phase of siting for its first commercial advanced fission power plant.
• August 13, 2024: Established a Preferred Supplier Agreement with Siemens Energy for steam turbine generator products and services.
• July 17, 2024: Successfully completed end-to-end demonstration of advanced fuel recycling process.

2. Financial Performance Overview

Revenue Growth

• Oklo has a growing order pipeline exceeding 14 GW and plans to file a Combined License Application (COLA) later this year.
• The company signed a 12 gigawatt Master Power Agreement with Switch data centers, indicating strong future revenue streams.

Profit Margins

• The company aims to enhance fuel cost-effectiveness, with fuel recycling operations expected to save up to 80% on fuel costs.

Expense Management

• Operating expenses for Q1 2025 were $17.9 million, up from $7.4 million in Q1 2024.
• Cash and cash equivalents stood at $260.7 million as of March 31, 2025.

Significant Financial Events

• Raised approximately $400 million through a public offering in June 2025.
• Acquired Atomic Alchemy for $25 million in an all-stock transaction, expected to generate revenue prior to completing its first radioisotope production reactors.

3. Management Effectiveness

Strategic Decision-Making

• Oklo has secured significant partnerships, including a 12 GW agreement with Switch and a collaboration with RPower for data centers.
• The company is focusing on strategic acquisitions, such as Atomic Alchemy, to diversify revenue streams and enhance capabilities.

Capital Allocation

• Capital is being allocated towards expanding radioisotope production capabilities and advancing nuclear technologies.
• Investments in site characterization and regulatory processes aim to streamline the deployment of Aurora powerhouses.

Adaptability to Challenges

• Oklo is actively engaging with the NRC to streamline regulatory processes and has adapted its strategies to meet growing energy demands.
• The company is leveraging executive orders and government support to advance nuclear energy leadership.

4. Key Quotes from Management:

• "This milestone reflects the incredible partnership between INL, DOE, and Atomic Alchemy." - Thomas Eiden, Founder and CEO, Atomic Alchemy
• "We’re proud to advance a reliable domestic supply of essential radioisotopes and help restore U.S. leadership in this critical field." - Thomas Eiden, Founder and CEO, Atomic Alchemy
• "Our competitive advantage is built on the intersection of three key strategies: our business model, our sizing philosophy, and our technology." - Jake DeWitte, Co-Founder and CEO, Oklo Inc.
• "We believe this operational legacy allows us to move with greater speed and confidence through the licensing process and positions us to bring our first commercial unit online in late ’27 to early ’28." - Jake DeWitte, Co-Founder and CEO, Oklo Inc.
• "We are excited to collaborate with Switch on this historic agreement." - Jacob DeWitte, Co-Founder and CEO, Oklo
• "We recognize the inherent opportunity to enhance our mission through fuel recycling, converting used fuel into clean energy." - Jacob DeWitte, Co-founder and CEO, Oklo
• "We do we need more, and we need it faster." - Jacob DeWitte, Co-founder and CEO, Oklo