Nuscale Power (SMR) Research & Development (2021 - 2026)
Nuscale Power's Research & Development came in at $18.43 million for Q2 2026, up 56.2% from $11.8 million a year earlier and up 43.9% from the prior quarter.
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Analysis
Nuscale Power (SMR) Research & Development (2021 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Nuscale Power reported Research & Development of $55.83 million, up 31.5% year-over-year; for FY2025, it came in at $45.53 million, down 2.7% from FY2024.
- Research & Development carries a five-year compound annual growth rate of -13.7% (FY2020 to FY2025).
- Going back by year, Research & Development was $46.82 million in FY2024 (-70.0%), $156.05 million in FY2023 (+22.2%), $127.66 million in FY2022 (+35.3%) and $94.39 million in FY2021 (-0.9%).
- The Q2 2026 figure represents the highest quarterly Research & Development since Q4 2023.
- Year-over-year, Research & Development has increased for three consecutive quarters, with an average decline of 7.2% over the last eight quarters.
- The fastest year-over-year change in Research & Development over five years came in Q3 2023 (growth of 80.5%), and the weakest in Q3 2024 (a decline of 80.9%).
- Business Quant data shows SMR's Research & Development at $12.81 million (Q1 2026), $13.55 million (Q4 2025) and $11.05 million (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 252.99 Bn | 214.06 Bn | 2.36 Bn | 334.00 Mn |
| 2 | Bloom Energy | 81.25 Bn | 73.07 Bn | 355.57 Mn | 58.87 Mn |
| 3 | First Solar | 18.82 Bn | 9.78 Bn | 605.00 Mn | 76.24 Mn |
| 4 | BWX Technologies | 12.55 Bn | 10.85 Bn | 202.31 Mn | 4.17 Mn |
| 5 | Generac Holdings | 12.21 Bn | 11.04 Bn | 521.81 Mn | 65.78 Mn |
| 6 | Nextpower | 11.82 Bn | 7.71 Bn | 335.85 Mn | 44.51 Mn |
| 7 | EnerSys | 6.67 Bn | 4.86 Bn | 313.36 Mn | - |
| 8 | Enphase Energy | 4.36 Bn | -500.13 Mn | 175.01 Mn | 45.66 Mn |
| 9 | Mirion Technologies | 3.45 Bn | 1.34 Bn | 133.10 Mn | 10.10 Mn |
| 10 | Nuscale Power | 3.24 Bn | 3.19 Bn | -152,000.00 | 18.43 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 18.43 Mn |
| Mar 31, 2026 | 12.81 Mn |
| Dec 31, 2025 | 13.55 Mn |
| Sep 30, 2025 | 11.05 Mn |
| Jun 30, 2025 | 11.80 Mn |
| Mar 31, 2025 | 9.13 Mn |
| Dec 31, 2024 | 9.37 Mn |
| Sep 30, 2024 | 12.16 Mn |
| Jun 30, 2024 | 12.13 Mn |
| Mar 31, 2024 | 13.16 Mn |
| Dec 31, 2023 | 37.82 Mn |
| Sep 30, 2023 | 63.73 Mn |
| Jun 30, 2023 | 26.93 Mn |
| Mar 31, 2023 | 27.57 Mn |
| Dec 31, 2022 | 37.99 Mn |
| Sep 30, 2022 | 35.30 Mn |
| Jun 30, 2022 | 29.51 Mn |
| Mar 31, 2022 | 24.38 Mn |
| Dec 31, 2021 | 28.37 Mn |
| Sep 30, 2021 | 26.37 Mn |
API Access
Nuscale Power Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=SMR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "SMR", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=SMR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();