Oklo stock dips after company says quarterly loss widene

What happened: Oklo (OKLO) stock slipped 2% on Wednesday morning.

What’s behind the move: The small nuclear reactor developer reported a first-quarter loss of $0.19 per share the day prior, matching analyst expectations. The result, however, was wider than the $0.07 per-share loss recorded in the same period a year earlier.

What else you need to know: Oklo has benefited from government initiatives to accelerate nuclear power development, including efforts to advance nuclear power systems for space missions.

Last month Oklo announced on Thursday a partnership with chipmaker Nvidia (NVDA) and Los Alamos National Laboratory to work on next-generation nuclear power.

During the company’s earnings call on Tuesday, management touted its advancements since going public last year, including major partnerships.

“For Oklo, the story has increasingly moved from strategy to execution,” CEO Jacob DeWitte said during the call.

“Since becoming a public company, we have built a customer pipeline across data centers, industrials, energy, and government customers.”

Year-to-date the stock is down roughly 5%.

Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at @ines_ferre.

Click here for an in-depth analysis of the latest stock market news and events moving stock prices

Read the latest financial and business news from Yahoo Finance