X-Energy, Inc. (XE) SEC Filings & Earnings Calls
EquiReason read 5 X-Energy, Inc. SEC filings in the last 12 months. Latest: 10-Q on 2026-08-13 — X-Energy reported Q2 2026 results with strong revenue growth driven by DOE contracts and IPO proceeds, but operating losses widened significantly due to heavy investment in constru.
Source: SEC EDGAR filings · read by EquiReason
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- 4.3B
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- 16 Nov, in 23 days
Every filing, read
last 12 months · SECWhat happened, the numbers inside, guidance and risks. The original is one click away.
13 Aug 202610-QX-Energy reported Q2 2026 results with strong revenue growth driven by DOE contracts and IPO proceeds, but operating losses widened significantly due to heavy investment in construction.earningsopen
Figures in the filing · each found in the filing text
| Services revenue · Q2-2026 | $50M | +196% y/y |
| Total revenues and grant income · Q2-2026 | $55M | +154% y/y |
| Operating loss · Q2-2026 | $-110M | +157% y/y |
| Net loss · Q2-2026 | $-105M | +19% y/y |
| Cash and cash equivalents · 2026-06-30 | $1.15B | |
| Capital expenditures · H1-2026 | $106M | +199% y/y |
| Construction-in-progress · 2026-06-30 | $110M | |
| Deposits for long-lead materials · 2026-06-30 | $50M | |
| Non-controlling interest percentage · 2026-06-30 | 29.8% |
Risks flagged
Customer concentration risk
“For the three months ended June 30, 2026, two customers, the U.S. Government and Dow Chemical Company, accounted for 90.3% and 4.4% of total revenue and grant income.” · word for word
Operating loss and negative cash flow
“Net cash used in operating activities $(164,568) for six months ended June 30, 2026.” · word for word
Dependence on government funding
“The Company's revenue and credit relationships are primarily concentrated within the U.S. Government which represents a concentration risk but a low credit risk.” · word for word
Construction and deployment delays
“Construction or engineering design delays affecting the initial deployment of the Xe-100 under the ARDP and our customers' schedules.” · word for word
13 Aug 20268-K · 2.02Total Revenues and Grant Income $55M (+154% y/y); Total Operating Expenses $165M (+156% y/y); IPO Net Proceeds $1.10Bearningsopen
Figures in the filing · each found in the filing text
| Total Revenues and Grant Income · Q2-2026 | $55M | +154% y/y |
| Total Operating Expenses · Q2-2026 | $165M | +156% y/y |
| IPO Net Proceeds · Q2-2026 | $1.10B | |
| SGL Carbon Investment · Q2-2026 | $8M | |
| Project Prometheus Commitment · Q2-2026 | $10M | |
| Tennessee Grant · Q2-2026 | $11M |
Risks flagged
Operating expenses growing faster than revenue; pre-revenue stage with high cash burn.
“Operating expenses $164.6M vs $64.3M +156% Y/Y; net cash not disclosed.”
Regulatory and licensing risk for nuclear fuel and reactor deployment.
“NRC Part 70 license; DOE ARDP continuation; regulatory path for reactor construction.”
Dependence on government grants and subsidies.
“Revenue includes grant income; DOE ARDP cost share; Tennessee grant.”
4 Jun 202610-QX-energy reported Q1 2026 results: revenue more than doubled YoY but operating loss widened significantly due to higher costs and a large non-cash warrant liability loss.earningsopen
Figures in the filing · each found in the filing text
| Services revenue · Q1-2026 | $40M | +134% y/y |
| Total revenues and grant income · Q1-2026 | $43M | +109% y/y |
| Operating loss · Q1-2026 | $-66M | |
| Net loss · Q1-2026 | $-166M | |
| Capital expenditures · Q1-2026 | $43M | +283% y/y |
| Cash and cash equivalents · 2026-03-31 | $224M | |
| Deposits for long-lead materials · 2026-03-31 | $53M |
Risks flagged
Customer concentration
“For the three months ended March 31, 2026, two customers, the U.S. Government and the DOW Chemical Company (“Dow”) accounted for 92% and 4%, respectively, of the Company’s total revenue and grant income.” · word for word
Cash burn and funding need
“Net cash used in operating activities $(67,252) (2026) vs $(41,860) (2025); cash halved to $224M.” · word for word
Warrant liability volatility
“Mark-to-market loss on warrant liabilities $(108,899) (2026) vs $10,968 (2025).”
4 Jun 20268-K · 2.02, 7.01Revenues and grant income $43M (+105% y/y); IPO net proceeds $1.10Bearningsopen
Figures in the filing · each found in the filing text
| Revenues and grant income · Q1-2026 | $43M | +105% y/y |
| IPO net proceeds · Q1-2026 | $1.10B |
Risks flagged
Lock-up expiration on September 1, 2026 may lead to share overhang and selling pressure.
“Restricted Period will end on September 1, 2026... shares subject to the lock-up agreements will become eligible for sale” · word for word
Dependence on regulatory approvals and project execution for future revenue.
“Regulatory milestones achieved but future projects still subject to permitting and construction risks.”
19 May 20268-K · 7.01Graphite Supply Agreement Value $100Mopen
Figures in the filing · each found in the filing text
| Graphite Supply Agreement Value | $100M |
Risks flagged
First-of-a-kind risks for SMR technology, including regulatory approvals, supply chain constraints, and market adoption uncertainty.
“cost, schedule, and economic uncertainties from inflation, supply chain constraints (including HALEU access), labor availability, and first-of-a-kind risks” · word for word
X-Energy, Inc. — questions
- What did X-Energy, Inc. file recently?
- 5 SEC filings in the last 12 months. Latest: 10-Q on 2026-08-13 — X-Energy reported Q2 2026 results with strong revenue growth driven by DOE contracts and IPO proceeds, but operating losses widened significantly due to heavy investment in construction.
Every figure on this page comes from X-Energy, Inc.'s own SEC filings — see them on SEC EDGAR. Price data is licensed and shown only inside the product.
How these figures are read: methodology · EquiReason.