Start here if you're new
what it is
Nano Nuclear is trying to build 4 named reactor programs, plus fuel services and space products.
how it gets paid
Last year Nano Nuclear Energy made n/a in revenue. portable microreactor technologies was the main engine at $0M, or 20% of sales.
what just happened
EPS beat by $0.19, but you still have $0M revenue.
At a glance
n/a balance sheet
pre-revenue — EPS is loss per share, not a stable estimate
~$1B market cap
small cap
NASDAQ
What they do
Nano Nuclear is trying to build 4 named reactor programs, plus fuel services and space products.
The moat is four named reactor programs, not four revenue streams. KRONOS, ZEUS, ODIN, and LOKI are the lineup, and one is patented. With on the order of five dozen employees and essentially no product revenue, you are buying future options, not customer lock-in.
How they make money
n/a
annual revenue
portable microreactor technologies
$0M
nuclear fuel fabrication
$0M
nuclear fuel transportation
$0M
nuclear applications for space
$0M
nuclear industry consulting services
$0M
The products that matter
micro reactor development
Micro Modular Reactor (MMR)
pre-revenue · unlicensed
it's the headline concept, but there is still no operating license, no operating plant, and no revenue behind it.
core bet
future fuel logistics
HALEU Logistics
targets first income in 2027–2028
management points to 2027–2028 for initial revenue here, which means this may become the first real test of whether the business can monetize anything at all.
first revenue watch
policy and licensing support
Nuclear Policy & Licensing
team expansion announced feb 2026
the february 2026 team build-out tells you where the company is spending time: not scaling operations, but trying to navigate a multi-year approval path.
process over profit
Key numbers
$1B
market cap
You are paying roughly $1B for a company with $0M product sales and a growing but still small team.
$0M
sales
Zero sales means the stock is priced on plans, not shipments.
~62
employees (FY2025)
Headcount has been rising as the company staffs engineering and licensing work—still small versus the scope of the opportunity.
loss
EPS (development stage)
The company remains loss-making; watch cash burn and financing more than a single EPS point estimate.
Financial health
n/a
strength
- balance sheet grade n/a
- long-term debt $2M (0% of capital)
n/a — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for NNE right now.
source: institutional data · return history unavailable
What just happened
beat estimates
EPS beat by $0.19, but you still have $0M revenue.
EPS came in at -$0.13 versus a -$0.32 estimate. The beat was a smaller loss, not sales.
$0M
revenue
-$0.13
eps
n/a
n/a
eps beat
The $0.19 EPS beat matters because it shows losses narrowed from -$0.32 to -$0.13.
source: company earnings report, 2026
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What could go wrong
the #1 risk is spending toward a commercial nuclear future that still has no license, no plant, and no revenue.
high
no operating license, no operating plant
the company still has no operating license from the Nuclear Regulatory Commission and no operating reactor. that makes the current valuation a bet on approvals that have not happened.
with $0 revenue today, the full business case still depends on future regulatory progress.
high
commercial timeline risk
management's first revenue target is 2027–2028 through HALEU logistics. if that slips, investors are left holding a longer-duration concept stock with no operating income to soften the wait.
this pushes the monetization window further out and raises the odds that sentiment resets before fundamentals arrive.
med
premium valuation for a concept-stage business
NNE trades at 7.9x book versus a 6.6x direct peer average, despite having no revenue. that's a valuation that leaves less room for delays, dilution fears, or execution misses.
the stock does not need bad news to fall. sometimes it just needs less optimism.
med
share supply overhang
8.49M shares from the 2025 private placement are registered for resale, which creates a real supply issue if early holders decide to take liquidity.
more stock available for sale can pressure price even if the long-term narrative hasn't changed.
a ~$1B market cap, 7.9x book value, and a 2027–2028 revenue target means you are paying in advance for milestones that have not been earned yet.
source: institutional data · regulatory filings · risk analysis
Pay attention to
earnings
next earnings report
scheduled for may 21, 2026. you care less about EPS optics than whether cash burn stays controlled while revenue remains at zero.
regulatory
nrc license progress
there is no public license application date in this snapshot. any concrete filing would matter because the approval path is multi-year.
valuation
price-to-book premium
7.9x book versus a 6.6x peer average is the market saying "we'll pay up for the dream." that premium needs milestone support.
timeline
HALEU logistics revenue clock
2027–2028 is the first stated income window. same story until then: progress needs to get more tangible, not just more ambitious.
Analyst rankings
coverage depth
thin
institutional ranking data is limited here. in human-speak, there isn't enough broad analyst history to lean on consensus.
what that means
high uncertainty
when coverage is thin, the stock trades more on narrative shifts and milestone headlines than on established estimate revisions.
source: institutional data
Institutional activity
institutional ownership data for NNE is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$33
current price
n/a
target midpoint · n/a from current
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