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.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| Net income | — | -$49.4K | -$47.6K | -$5.7M | -$61.0M |
Recent filings and events
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Other event Item 8.01
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Accounts can no longer be relied on The company is telling investors that figures it has already published are wrong. Rare, and about as direct as a filing gets. Item 4.02
- Auditor changed The company changed auditors. Sometimes routine; historically one of the more reliable warnings that something is wrong. Item 4.01
- Officer or director change Item 5.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Regulation FD disclosure Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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