Oklo (OKLO) Financials

Oklo Inc. (NYSE:OKLO) has shown dynamic financial movements over the last four years with notable trends in income, expenses, cash flows, and balance sheet items. Here is a summary of the key points investors should be aware of:

• Oklo has not recognized any revenue through these periods, indicating it is still in early/mid-stage development or pre-revenue operational phase, focusing on investment and development.
• The company has consistently invested in long-term and short-term investments, suggesting a strategy to grow cash reserves and finance operations without relying on revenue streams yet.
• There was a substantial increase in cash and equivalents from Q2 2024 ($105.7M) to Q3 2024 ($91.8M), despite operating losses, supported by net positive investing and financing cash flows, showing effective liquidity management.
• Oklo's balance sheet shows large "Other Noncurrent Operating Assets" and significant "Redeemable Noncontrolling Interest" which might represent investments in long-term projects or partnerships providing financing stability.
• Net losses have been significant and persistent, with Q4 2024 showing a net loss continuing operations of approximately $35.8 million and losses in every quarter of 2023 and 2024 after initial reported profits in early 2022 and 2023.
• There is variability in non-cash adjustments and changes in operating assets/liabilities which impacts operating cash flow and indicates active working capital management during the periods analyzed.
• Weighted average shares outstanding have increased from about 63.9 million in early 2022 to around 99 million in late 2024, possibly diluting earnings per share but providing capital for growth.
• The firm’s Selling, General & Administrative (SG&A) and Research & Development (R&D) expenses increased substantially, reaching over $10 million in SG&A and over $10 million in R&D in certain quarters, pressuring operating income.
• Operating losses have widened notably in 2024, reaching over $21.7 million in Q4 2024 alone, indicating increasing burn rate ahead of revenue generation.
• Oklo shows high redeemable noncontrolling interests, liabilities, and negative retained earnings, signaling complex capital structure and ongoing losses, which may present financial risk concern if profitability is not achieved in future periods.

Summary: Oklo is largely a development-stage company with no revenue yet but significant investments and liquidity. Persistent and growing losses coupled with major expenses reflect ongoing R&D and SG&A outlays. The company’s substantial cash and investment reserves and financing activities have so far supported operations. Investors should weigh the company’s growth investments and capital structure complexity against the lack of revenue and ongoing losses. Watch for future revenue recognition and sustained path to profitability.