X-Energy Inc. (NASDAQ:XE) shares are surging Thursday afternoon after the company reported second-quarter 2026 financial results, posting quarterly revenues and grant income of $54.6 million, a 154% increase from $21.5 million in the prior-year period.
- X-Energy shares are climbing with conviction. What’s driving XE stock higher?
Operational Milestones and DOE Funding Outlook
Top-line performance beat analyst estimates of $47.4 million. However, the advanced nuclear reactor developer reported a quarterly net loss of 21 cents per share, missing the consensus target of a loss of 12 cents per share. Revenue growth was primarily driven by a $31.9 million increase in activities under the Department of Energy’s (DOE) Advanced Reactor Demonstration Program (ARDP).
The company expanded its strategic supply chain by securing long-term HALEU enrichment agreements with Centrus Energy Corp. and General Matter, alongside a manufacturing agreement with SGL Carbon to scale nuclear-grade graphite production.
Furthermore, X-energy received DOE approval extending its ARDP budget period through March 2027 to support its Xe-100 reactor deployment and TRISO-X fuel fabrication facilities. Total liquidity stood at $1.9 billion as of June 30, 2026, strengthened by $1.1 billion in net proceeds from its April IPO.
Executive Commentary on Commercial Execution
Management emphasized that recent supply agreements and partnerships reinforce the company’s positioning for commercial scale.
“Our progress in the second quarter reflects our continued focus on execution across every part of our business,” said J. Clay Sell, CEO of X-energy. “Our HALEU enrichment service agreements meaningfully de-risk a substantial portion of the deployment of our reactors, and the agreement with SGL secures our access to critical graphite components, enabling our strategy to build reactors at scale.”
Sell also noted during the conference call that the DOE indicated the company will receive up to an additional $1 billion in public funding for its small nuclear power plant project in Texas.
XE Shares Surge Thursday Afternoon
XE Price Action: X-Energy shares were up 12.58% at $22.91 at the time of publication on Thursday, according to Benzinga Pro data.
Image: Shutterstock
Login to comment