FISNNasdaqElectric ServicesUS GAAP · USD

Deep Fission, Inc

Deep Fission, Inc. is a U.S.-based nuclear energy development company focused on designing and deploying underground Gravity Reactor systems. The company’s work spans reactor engineering, deep borehole drilling, geological evaluation, safety analysis, licensing preparation, and commercialization planning.

Liikevoitto (EBIT)−21,4milj. USD
−47 621,9 %v/v
Nettotulos−61,0milj. USD
−967,7 %v/v
Vapaa kassavirta−13,1milj. USD
−367,3 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2022–2025

−25−20−15−10−50milj. USD2022: EBIT −0,05 milj. USD20222023: EBIT −0,05 milj. USD20232024: EBIT −0,04 milj. USD20242025: EBIT −21 milj. USD2025−21
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Reactor development35 %

Engineering and development of the Gravity Reactor platform and related subsurface systems.

Project development services25 %

Upfront project work tied to deployment, site preparation, and commercialization planning.

Technology licensing20 %

Licensing of reactor and deployment intellectual property to project operators.

Operations and maintenance20 %

Recurring services for operating installed Gravity Reactor systems.

Asiakkaat

Deep Fission’s intended customers are utilities, project developers, and industrial power users that would buy nuclear generation capacity or license the company’s reactor technology. The company also targets strategic partners and site hosts that need development support, regulatory coordination, and long-duration clean power solutions. Because the business is still in development, customer demand is tied to future reactor deployment, licensing, and project financing rather than current commercial sales.

Utilities

Buy deployed reactor capacity or partner on project development for firm electricity supply.

Industrial power users

Seek reliable on-site or nearby clean baseload power for energy-intensive operations.

Project developers

Use the company’s technology and development services to structure new reactor projects.

Strategic licensing partners

License the Gravity Reactor platform and deployment know-how for specific sites.

Site hosts and landowners

Provide locations and infrastructure support for future underground reactor projects.

Strategia

Deep Fission’s strategy is to move the Gravity Reactor from concept and early engineering into a licensed pilot and then into commercial deployment. The company is pursuing a phased path that combines reactor demonstration, regulatory alignment, and eventual clustered multi-reactor site development, supported by its patent portfolio and drilling-related know-how.

Complete pilot reactor developmentLyhyt aikaväli

A working pilot is the key proof point for technical feasibility and licensing progress.

Secure regulatory authorizationLyhyt aikaväli

DOE and NRC approvals are required before demonstration and commercial deployment.

Scale to commercial deploymentKeskipitkä aikaväli

The business model depends on converting a pilot into repeatable site deployments and recurring services.

Monetize intellectual propertyKeskipitkä aikaväli

Licensing and deployment know-how can create recurring revenue beyond single projects.

Maantiede

Deep Fission is headquartered in the United States and its development, regulatory, and commercialization activities are centered there. The company’s future deployment footprint is expected to depend on U.S. nuclear licensing, DOE coordination, and site-specific geology, so geography is closely tied to permitting and subsurface conditions. No country-level revenue has been disclosed because the company has not yet commercialized its reactor platform.

Riskit

Deep Fission faces substantial execution, financing, and regulatory risk because it has not yet commercialized a reactor and must prove both technical and licensing viability. Nuclear projects also carry long development cycles, safety and permitting complexity, and dependence on external capital, while subsurface deployment adds drilling and geology-specific uncertainty.

Järjestetty vakavuuden mukaan
Development-stage execution riskKriittinen

The Gravity Reactor remains in conceptual and early engineering stages, so technical success is unproven.

KohdistuuReactor designTestingCommercialization
Regulatory approval riskKorkea

DOE authorization and NRC licensing are prerequisites for demonstration and commercial operation.

Kohdistuu: Pilot reactor and commercial licensing

Financing and dilution riskKorkea

The company expects substantial additional capital needs and may rely on equity or convertible funding.

Kohdistuu: Future capital raises and shareholder dilution

Geological and drilling riskKorkea

Underground reactor deployment depends on borehole integrity, casing, and site-specific subsurface conditions.

Kohdistuu: Site selection and reactor emplacement

Nuclear safety and public acceptance riskKorkea

Nuclear projects face heightened scrutiny, safety requirements, and stakeholder resistance.

KohdistuuPermittingDeploymentOperations

Kirjanpito

Harkinnanvaraiset erät
Reverse acquisition accounting

The merger was treated as a recapitalization, so historical financials reflect Legacy Deep Fission for prior periods.

Vaikutus: Affects comparability of pre- and post-merger statements

Derivative valuation of SAFE notes

SAFE notes were accounted for as derivatives, requiring fair value estimates and judgment.

Vaikutus: Can create volatility in liabilities and non-cash gains or losses

Stock-based compensation

Option and award values depend on Black-Scholes inputs and subjective assumptions.

Vaikutus: Affects operating expenses and equity dilution

R&D expense recognition

Development costs are expensed immediately, which shapes reported losses during the build-out phase.

Vaikutus: Impacts operating results before commercialization

Future revenue recognition

Once projects begin, upfront development, licensing, and O&M revenue will likely have different timing patterns.

Vaikutus: Could affect quarter-to-quarter comparability

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Päivitetty: 24.9.2026