DEEP FISSION, INC. FISN
We are a nuclear energy technology company developing a small modular reactor ("SMR") based on established pressurized water reactor ("PWR") technology, with novel emplacement in deep boreholes approximately one mile below the Earth's surface. Our reactor, which we refer to as the Gravity Reactor, will leverage subsurface conditions to support key containment and operating functions, including the use of hydrostatic pressure from a water column within the borehole to support reactor operating pressure and cooling, and the surrounding geological formation to provide structural confinement and shielding. This approach is intended to reduce reliance on large surface containment structures and other safety-related infrastructure associated with conventional nuclear power plants, support faster deployment timelines, improve security, enhance safety, and enable lower capital and operating costs relative to conventional nuclear facilities, while reducing exposure to environmental and other surface-level hazards.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| R&D | $6.6M | $661.2K | — | — | — |
| SG&A | $14.8M | $3.4M | $47.6K | $49.4K | — |
| Total operating expenses | $21.4M | $4.1M | — | — | — |
| Operating income | -$21.4M | -$4.1M | -$47.6K | -$49.4K | — |
| Net income | -$61.0M | -$5.7M | -$47.6K | -$49.4K | — |
| EPS, basic | -2.41 | -0.57 | -0.01 | -0.01 | — |
| EPS, diluted | — | -0.57 | -0.01 | -0.01 | — |
| Shares, diluted (wtd. avg.) | $25.3M | $10.0M | $5.0M | $5.0M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Cash and equivalents | $23.7M | $6.7M | $945.8K | $69 | — |
| Total current assets | $24.4M | $6.9M | $774 | $69 | — |
| Property, plant and equipment | $37.1K | $2.0K | — | — | — |
| Total assets | $5.0M | $6.9M | $774 | $69 | — |
| Accounts payable | $538.3K | $94.8K | $10.7K | $9.4K | — |
| Total current liabilities | $2.4M | $161.4K | $110.2K | $61.9K | $12.4K |
| Total liabilities | $15.6M | $10.9M | $110.2K | $61.9K | $12.4K |
| Retained earnings | -$66.7M | -$5.7M | -$110.0K | -$62.3K | -$12.9K |
| Total equity | $29.8M | -$123.7K | $460.3K | -$61.8K | -$12.4K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Operating cash flow | -$13.1M | -$2.8M | -$46.3K | -$40.1K | — |
| Depreciation and amortisation | $8.3K | $664 | — | — | — |
| Stock-based compensation | $8.4M | $1.2M | — | — | — |
| Capital expenditure | $43.4K | $2.7K | — | — | — |
| Investing cash flow | -$43.4K | -$2.7K | — | — | — |
| Financing cash flow | $30.1M | $8.6M | $47.0K | $40.1K | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-045965.
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