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Nano Nuclear Energy Inc. (NNE)
NASDAQ:NNE
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Nano Nuclear Energy Inc.
(NASDAQ:NNE)
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Rating:51Neutral
Price Target:
$36.00
▲(0.93% Upside)
The score is held back primarily by weak fundamentals (no revenue, widening losses, and significant cash burn) despite a strong low-leverage balance sheet and improved liquidity. Technical signals remain soft with negative MACD and the stock below key moving averages, while valuation is constrained by a negative P/E and no dividend. Offsetting these, the latest earnings call highlighted meaningful funding strength and project/regulatory progress, improving the outlook but not yet resolving commercialization and cash-consumption risks.
Positive Factors
Large liquidity cushion from private placement
A ~$580M cash cushion materially extends runway for multi-year reactor R&D, licensing and prototype construction. This reduces near-term financing pressure, enabling continued engineering, regulatory filings, and partnerships without immediate dilution, supporting execution over 2–6 months.
Very low financial leverage
Extremely low debt gives flexibility to fund capital-intensive development and pursue vertical integration or acquisitions. Low leverage lowers refinancing/default risk and preserves strategic optionality during multi-stage commercialization of microreactor systems.
Progress on KRONOS and regulatory milestones
Tangible technical and regulatory progress (site work and NRC milestones) meaningfully de-risks timeline to deployment. Advancing licensing and permit prep increases the likelihood of near-term construction permits and commercialization pathways over the coming months.
Negative Factors
Pre-revenue company with widening losses
Absence of operating revenue means progress depends on external funding and milestone delivery. Rapidly expanding net losses reflect large operating burn from R&D and G&A, which undermines sustainability unless commercial contracts or revenue begin within the financing runway.
Large and rising cash burn
Deep negative operating and free cash flow indicate heavy ongoing capital consumption. Sustained negative cash generation creates dependence on continued capital raises; if market access tightens or milestones slip, execution and dilution risk rise materially over the medium term.
Nuclear fuel supply-chain bottlenecks
Fuel conversion and supply constraints are structural barriers to deploying microreactors at scale. Until upstream conversion and fuel logistics are secured, commercialization timing and operating margins remain uncertain, potentially delaying revenue realization and increasing capex needs.
Nano Nuclear Energy Inc. (NNE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.80B
Dividend YieldN/A
Average Volume (3M)1.91M
Price to Earnings (P/E)―
Beta (1Y)3.76
Revenue GrowthN/A
EPS Growth-194.11%
CountryUS
Employees5
SectorIndustrials
Sector Strength72
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)-0.19
Shares Outstanding50,474,293
10 Day Avg. Volume2,091,047
30 Day Avg. Volume1,907,391
Financial Highlights & Ratios
PEG Ratio0.37
Price to Book (P/B)<0.01
Price to Sales (P/S)0.00
P/FCF Ratio-0.05
Enterprise Value/Market Cap0.63
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-2.74K
Enterprise Value/Ebitda-33.36
Forecast
1Y Price Target
$46.67Price Target Upside30.83% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)-1.45
Revenue Forecast (FY)$333.33K
Nano Nuclear Energy Inc. Business Overview & Revenue Model
Company DescriptionNANO Nuclear Energy Inc. operates as a microreactor technology company. The company is developing ZEUS, a solid-core battery reactor, and ODIN, a low-pressure coolant reactor. It is also developing a high-assay low-enriched uranium fabrication facility to supply fuel to the nuclear reactor industry and fuel transportation and nuclear consultation businesses. The company was founded in 2021 and is based in New York, New York.
How the Company Makes MoneyNano Nuclear Energy Inc. generates revenue through the development, licensing, and sale of its advanced nuclear reactor technologies. A key revenue stream involves partnering with government agencies and private sector organizations to provide clean energy solutions tailored to specific needs. NNE also earns revenue by offering consulting and engineering services related to the design, installation, and maintenance of its nuclear systems. Furthermore, strategic partnerships and collaborations with other energy companies and technology firms play a significant role in expanding its market reach and enhancing its product offerings, contributing to its overall earnings.
Nano Nuclear Energy Inc. Earnings Call Summary
Earnings Call Date:Dec 18, 2025
(Q4-2025)
| % Change Since: |
Next Earnings Date:Feb 12, 2026
Earnings Call Sentiment Positive
The earnings call presented a positive outlook with significant financial strength, strategic progress in microreactor development, and strong investor support. However, challenges remain in operational losses and securing the nuclear fuel supply chain.Q4-2025 Updates
Positive Updates
Strong Financial Position
NANO Nuclear ended fiscal year 2025 with cash and cash equivalents of $203.3 million, an increase of approximately $175 million from fiscal 2024. This was further bolstered to $580 million following an October 2025 private placement.
Significant Progress in Microreactor Development
Advanced the KRONOS MMR Energy system significantly, achieving important NRC milestones and completing site characterization and drilling work for the planned Q1 2026 construction permit application.
Successful Strategic Collaborations
Secured strategic collaboration with the University of Illinois and made progress towards formal licensing activities with the Canadian Nuclear Safety Commission through the acquisition of Global First Power, rebranded as True North Nuclear.
Increased Investor Confidence
Raised over $600 million since the May 2024 IPO with support from institutional investors and numerous index inclusions.
Negative Updates
Operating Loss and Increased Expenses
Fiscal 2025 loss from operations was $46.2 million, primarily due to a $23 million increase in G&A expenses and a $12 million increase in R&D expenses.
Challenges in Fuel Supply Chain
Concerns about the nuclear fuel supply chain, particularly the need to secure uranium hexafluoride conversion capabilities, which is currently a bottleneck for future deployments.
Company Guidance
During the NANO Nuclear Fiscal Year 2025 Financial Results and Business Update Call, the company outlined several key metrics and strategic advancements. NANO Nuclear's cash position significantly increased to $580 million following an October 2025 private placement, bolstering their financial strength. The company achieved critical milestones, such as advancing the KRONOS MMR Energy system, securing strategic collaborations, and progressing in regulatory approvals, including important NRC and Canadian Nuclear Safety Commission milestones. They also raised over $600 million since their May 2024 IPO, reflecting growing institutional investor support. NANO Nuclear's net loss for fiscal 2025 was $40.1 million, driven by increased G&A and R&D expenses. Despite these operational costs, the company remains well-capitalized to accelerate the commercialization of their flagship reactor. They are also pursuing vertical integration opportunities in the nuclear fuel supply chain to secure a competitive advantage and ensure the sustainability of their operations.Nano Nuclear Energy Inc. Financial Statement Overview
Summary
Financials are mixed: the balance sheet shows very low leverage and a large equity/cash buffer after major fundraising, but the company remains pre-revenue with rapidly widening losses and very heavy, worsening cash burn, making execution and funding durability key risks.Income Statement
The company reports no revenue across 2022–2025 annual periods, while losses have expanded materially (net loss worsening from about $1.0M in 2022 to $40.1M in 2025). Operating losses also scaled sharply (EBIT down to roughly -$46.2M in 2025), indicating a business still in heavy investment mode with limited operating leverage. A key strength is that losses appear tied to build-out rather than margin compression; however, the lack of revenue and rapidly rising expense base are major near-term fundamentals headwinds.8
Very Negative
Balance Sheet
Balance sheet capitalization looks strong, with very large equity relative to debt in 2025 (debt-to-equity ~0.01), suggesting substantial funding capacity and low financial leverage. Total assets and equity also stepped up dramatically in 2025 versus prior years, improving the company’s apparent scale and liquidity buffer. The main weakness is profitability: returns on equity are deeply negative due to net losses, and the sharp year-over-year balance sheet expansion raises execution and deployment risk (capital needs to translate into revenue-generating assets over time).72
Positive
Cash Flow
Cash burn is significant and rising, with operating cash flow negative each year and worsening to about -$19.6B in 2025, and free cash flow also deeply negative (about -$28.1B in 2025). While free cash flow is greater than net loss (cash outflows exceed reported earnings losses), the overall trend points to heavy cash consumption and dependence on external funding until commercialization. A modest positive is that the company has historically funded operations without heavy leverage, but the magnitude of recent outflows is a clear risk factor.18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -415.11K | 0.00 | -106.92K | 0.00 | 0.00 |
| EBITDA | -34.09M | -46.22M | -10.04M | -6.25M | -1.03M |
| Net Income | -34.51M | -40.07M | -10.15M | -6.25M | -1.03M |
Balance Sheet | |||||
| Total Assets | 231.53M | 228.66B | 35.10M | 7.23M | 2.25M |
| Cash, Cash Equivalents and Short-Term Investments | 210.18M | 203.27B | 28.51M | 6.95M | 2.13M |
| Total Debt | 2.81M | 2.80B | 1.93M | 0.00 | 0.00 |
| Total Liabilities | 5.22M | 6.09B | 3.49M | 225.00K | 137.77K |
| Stockholders Equity | 226.31M | 222.57B | 31.61M | 7.01M | 2.11M |
Cash Flow | |||||
| Free Cash Flow | -9.26B | -28.07B | -10.16M | -3.87M | -621.50K |
| Operating Cash Flow | -5.63B | -19.62B | -8.46M | -3.87M | -621.50K |
| Investing Cash Flow | -16.58M | -17.52B | -3.70M | 0.00 | 0.00 |
| Financing Cash Flow | 230.19M | 211.90B | 33.72M | 8.69M | 2.75M |
Nano Nuclear Energy Inc. Technical Analysis
Positive
35.67
Price Trends
32.84
Positive
37.15
Negative
33.81
Positive
Market Momentum
0.25
Negative
57.96
Neutral
81.09
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NNE, the sentiment is Positive. The current price of 35.67 is above the 20-day moving average (MA) of 30.92, above the 50-day MA of 32.84, and above the 200-day MA of 33.81, indicating a bullish trend. The MACD of 0.25 indicates Negative momentum. The RSI at 57.96 is Neutral, neither overbought nor oversold. The STOCH value of 81.09 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NNE.
Nano Nuclear Energy Inc. Risk Analysis
Nano Nuclear Energy Inc. disclosed 42 risk factors in its most recent earnings report. Nano Nuclear Energy Inc. reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Nano Nuclear Energy Inc. Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $19.92B | 65.17 | 26.69% | 0.56% | 14.01% | 10.92% | |
71 Outperform | $70.56B | 134.12 | 7.97% | 0.19% | 23.88% | 350.69% | |
65 Neutral | $82.83M | 16.25 | 8.20% | ― | -1.47% | 52.65% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
52 Neutral | $6.11B | -7.06 | -76.85% | ― | 765.67% | -202.81% | |
51 Neutral | $1.80B | -33.84 | -31.53% | ― | ― | -194.11% | |
35 Underperform | $77.13M | -0.14 | ― | ― | -98.20% | 93.77% |
* Industrials Sector Average
NNE
Nano Nuclear Energy Inc.
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3.49
10.85%
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.