X-energy revenue rises 154% to $54.6 million

• X-energy (NASDAQ:XE) reported Q2 2026 revenue and grant income of $54.6 million, up 154% year over year, driven by higher Xe-100 reactor project activity.
• The company ended the quarter with $1.9 billion in liquidity and no debt following its April 2026 IPO, which generated about $1.1 billion in net proceeds.
• X-energy expanded its nuclear fuel and reactor development efforts through new agreements, grants, and a growing reactor project pipeline.

X-energy (NASDAQ:XE) reported second-quarter 2026 total revenues and grant income of $54.6 million, up 154% from $21.5 million a year earlier, as activity increased under its U.S. Department of Energy cost-share agreement for the Xe-100 reactor project.

The revenue increase was mainly driven by higher execution activity under the company’s 50/50 cost-share Advanced Reactor Demonstration Program agreement with the U.S. Department of Energy, while operating expenses increased with expanded project operations.

Operating expenses increased 156% to $164.6 million, reflecting higher direct costs, selling, general and administrative expenses, expanded headcount, and equity-based compensation expenses.

The company reported that its April 2026 initial public offering generated approximately $1.1 billion in net proceeds, increasing liquidity to $1.9 billion as of June 30, 2026, with no outstanding debt.

X-energy develops advanced nuclear reactor technology, including the Xe-100 high-temperature gas reactor and related fuel technologies, with projects focused on supplying low-carbon power.

The company secured long-term high-assay low-enriched uranium agreements, signed a capacity expansion agreement with SGL Carbon, received an $11 million Tennessee grant, and expanded its Oak Ridge fuel campus by approximately 70 acres, while its project pipeline includes 144 reactors across the U.S. and U.K. based on contingent rights.