TLDR
- Oklo stock opened ~7% higher Friday after Q2 results
- Revenue hit $1.2M, crushing the $83,800 consensus estimate
- Loss per share came in at $0.28, worse than the $0.16 estimate
- Net loss widened to $48.5M from $24.7M a year ago
- Cash and marketable securities ended the quarter at $3 billion
Oklo (OKLO) stock jumped roughly 7% at Friday’s open after the company posted Q2 results that showed a wider-than-expected loss but blew past revenue estimates by a wide margin.
The stock was up around 4% later in the session as the initial enthusiasm settled.
Revenue for the quarter came in at $1.2 million. That was well above the consensus estimate of just $83,800.
The loss per share was $0.28, compared to the analyst estimate of a $0.16 loss. So the top line impressed, but the bottom line did not.
$OKLO Q2’26 EARNINGS HIGHLIGHTS
🔹 Revenue: $1.21M (Est. $0.1M) 🟢
🔹 EPS: -$0.28 (Est. -$0.16) 🔴
🔹 Cash & Marketable Securities: $3.0BOther Q2 Metrics:
🔹 Net Loss: $48.5M; vs $24.7M LY
🔹 R&D Expense: $39.5M; vs $11.5M LY
🔹 YTD Cash Used in Operating Activities: $65.5M
🔹… pic.twitter.com/Qa8ZO6C1ff— Wall St Engine (@wallstengine) August 7, 2026
Net loss for the quarter widened to $48.5 million, up from $24.7 million in the same period last year. Analysts had expected a net loss of around $25.5 million.
Oklo pointed to higher research, development, and operating expenses as the driver of the widening loss. R&D and operating expenses climbed to $39.5 million, up from $11.5 million a year ago. That figure also came in well above the Bloomberg consensus estimate of $23.3 million.
Cash Position Stands Out
One number that stood out was cash. Oklo ended Q2 with $3 billion in cash and marketable securities, made up of $1.66 billion in cash and equivalents and $1.4 billion in marketable securities.
That cash balance increased by $1.9 billion during the first two quarters of the year, following the completion of the company’s ATM offerings.
The cash figure also beat analyst estimates. Consensus had penciled in $1.05 billion in cash and equivalents.
For the first half of 2026, Oklo reported a net loss of $81.6 million. Loss from operations reached $124.2 million, which included payroll, stock-based compensation, general business expenses, and professional fees.
That figure was partially offset by $44.5 million in net interest and dividend income.
Spending Ramps Up
Cash used in operating activities totaled $65.5 million in Q2. Year-to-date, operating cash use came to $81.6 million.
Cash used in investing activities year-to-date was $912.7 million. That included $743.6 million in net purchases of marketable securities tied to the ATM program, plus $126.9 million in capital spending for property, plant, and equipment across the company’s three business units.
The spending picture makes clear that Oklo is in a heavy investment phase, scaling across its business units.
The revenue beat is worth noting in context. At $1.2 million, the number is still small in absolute terms, but it exceeded estimates by more than 14 times.
Oklo ended Q2 2026 with $3 billion in total liquidity, a balance that grew by $1.9 billion over the first half of the year.
