NuScale Power maintains a robust balance sheet with approximately $1.9 billion in cash, equivalents, and investments and no debt as of late September 2026, supporting a multi-year runway despite minimal revenue and ongoing cash burn of roughly $47 million per quarter. Recent Q3 results highlighted progress toward commercial deployment, including a fabrication agreement with Doosan Enerbility for the first NuScale Power Module upper reactor coolant system, while the company advances its ENTRA1 Energy partnership toward a potential Tennessee Valley Authority power purchase agreement targeted for year-end 2026. Trader sentiment reflects skepticism over the absence of binding module orders, competitive pressure from faster-moving small modular reactor developers, and a September analyst downgrade citing project delays and negative free cash flow projections, offset by the company’s liquidity cushion and Nuclear Regulatory Commission-approved design. Key near-term catalysts include TVA deal updates and Q4 earnings in early 2027.