Key Stats for Oklo Inc.
- 52-Week Range: $44.88 to $193.84
- Current Price: $45.69
- Street Mean Target: $86.50
- Market Cap: ~$8 billion
- Enterprise Value: ~$5.8 billion
- Q1 2026 Net Loss: $33.1 million
- Q1 2026 Cash Used in Operations: $17.9 million
- Cash and Marketable Securities: $2.5 billion (as of March 31, 2026)
- Full-Year 2026 Revenue Estimate: ~$1 million (pre-commercial)
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A Stock Near Its All-Time Low With a $2.5 Billion War Chest
Oklo (OKLO) is not a typical stock. The company makes advanced nuclear reactors, specifically compact fast reactors called Aurora powerhouses, designed to generate reliable baseload power for data centers, military installations, and industrial facilities.
Oklo has no commercial revenue yet, and since it went public in May 2024, the stock has run from around $15 to nearly $194, and it has been falling almost without interruption ever since.
The drawdowns chart captures the full weight of that decline. The stock began selling off on the first trading day of 2026 and has barely bounced. The 56.72% drawdown was hit on March 30, and today’s price is within cents of that all-time low.
There was a partial recovery through April and May, returning to roughly -25% before selling resumed. Unlike most drawdown charts in this series, this one shows no sustained recovery. The stock is still falling.
What hasn’t fallen is the balance sheet. Oklo raised $1.2 billion through an ATM equity offering in the first quarter alone, and total cash and marketable securities stood at $2.5 billion as of March 31. For a company burning roughly $18 million per quarter in operating cash, that is a very long runway.
The question the market is wrestling with is not whether Oklo will run out of money. It’s whether the milestones it needs to hit will arrive on the timeline the original valuation assumed.
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The Cash Chart Is the Business Model Right Now
For most companies, the financial anchor of an investment thesis is revenue, earnings, or free cash flow. For Oklo at this stage, it’s the balance sheet.
The cash and equivalents chart below tells the story of how this company went from running on roughly $10 million in cash for three straight years to a well-capitalized developer with the resources to build what it has promised.
Cash and equivalents at year-end 2025 stood at $788 million, up from $97 million the year before. Adding the Q1 raise brings total liquidity to $2.5 billion, funding construction across all three business units: Power, Fuel, and Isotopes.
The Aurora powerhouse at Idaho National Laboratory is progressing through the DOE authorization process. Meta has signed on for a 1.2 gigawatt power campus in Ohio. The U.S. Air Force issued a notice of intent to award for a deployment at Eielson Air Force Base in Alaska.
The Groves isotope test reactor was built in 229 days, with criticality targeted by July 4. None of this generates revenue today, but each milestone reduces the regulatory and execution risk the market is currently pricing into the stock.
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What the Revenue Chart Says About the Timeline
The revenue chart for Oklo is unlike any other in this series. There are no historical bars because there is no historical revenue. Every bar is a consensus estimate, and the numbers are modest: roughly $1 million in 2026, around $6 million in 2027, $55 million in 2028, $130 million in 2029, and $217 million by 2030.
Set against an $8 billion market cap, those numbers make clear what kind of investment OKLO actually is.
Investors buying Oklo today are making a long-duration bet on whether advanced nuclear becomes a mainstream power source for AI data centers and critical infrastructure, whether Aurora technology performs at commercial scale, and whether the regulatory environment continues to modernize.
The Street mean target of around $86 implies roughly 90% upside, but the wide spread of analyst targets reflects genuine uncertainty about timing rather than disagreement about the technology.
Should You Invest in Oklo Inc.?
Oklo is a pre-revenue company trading near its all-time low with $2.5 billion in cash, active construction underway, and partnerships with Meta and the U.S. Air Force.
The investment case is real, but the timeline is long. Regulatory milestones can slip, and the revenue ramp that would justify today’s market cap is still several years away.
For investors comfortable with that uncertainty, the current price reflects a very different conversation than the one the market was having at $194. Use TIKR to track cash burn, DOE authorization progress at Aurora-INL, and updates to the Ohio campus timeline.
See analysts’ growth forecasts and price targets for Oklo stock (It’s free!) >>>
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
