NuScale Power's sharp revenue collapse and lack of signed commercial contracts for its small modular reactors (SMRs) have driven trader skepticism on its survival, despite a robust balance sheet. The company recorded just $75,000 in Q2 2026 revenue after completing front-end engineering for its Romania RoPower project, with operating losses near $700 million over the prior year and ongoing cash burn of roughly $800 million annually. It holds about $1.9 billion in cash and investments with negligible debt, providing over two years of runway, yet analysts cite competition from faster-moving SMR developers, five-year build timelines, and dilution from equity raises as key risks. Upcoming catalysts include Q3 earnings on November 5 and progress on TVA or international deals that could trigger milestone payments or first revenue.