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BioMarin Pharmaceutical remains a "Strong Buy," driven by pipeline progress, strategic acquisitions, and robust revenue guidance. BMRN's acquisition of Amicus Therapeutics adds GALAFOLD and POMBILITI + OPFOLDA, boosting 2026 revenue guidance to $3.825–$3.925 billion and targeting 20% YoY growth. VOXZOGO expansion into hypochondroplasia and ongoing clinical trials represent major catalysts, with topline Phase 3 data expected in Q2 2026.

ENERGY 3 study met 1 of 2 co-primary endpoints in children with ENPP1 deficiency Treatment with BMN 401 led to statistically significant increases in plasma inorganic pyrophosphate (PPi) concentration, one of the study's co-primary endpoints; however, no improvement was observed in Radiographic Global Impression of Change (RGI-C) scores, the study's other co-primary endpoint and an important clinical measure of change in rickets severity Company is evaluating data to determine next steps SAN RAFAEL, Calif., May 18, 2026 /PRNewswire/ -- BioMarin Pharmaceutical Inc. (Nasdaq: BMRN) today announced results from the pivotal Phase 3 ENERGY 3 trial evaluating BMN 401 in children aged 1-12 with ENPP1 deficiency, a rare, serious and progressive genetic condition.

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Pre-Market Stock Futures: Futures are trading lower on Tuesday as the sell-off in technology stocks carried through to Monday and is headed down that road today. All of the major indices, except the Dow Jones Industrial Average, which closed 0.32% higher at 49,668, finished the day lower. The small-cap Russell 2000 was the big loser on Monday, closing down 0.63% at 2,775, while the tech-heavy Nasdaq closed lower by 0.51% at 26,090. The S&P 500, which made numerous new highs last week, was last seen at 7,403, down 0.07%. The same issues combined to create the weakness on Monday: worries about higher inflation, the ongoing war in Iran, where President Trump said he called off an imminent attack, and, of course, rising bond yields.

Treasury Bonds: After a brutal beatdown last week, yields across the Treasury curve closed modestly lower as some buyers came in to examine the wreckage. With Wall Street legend Ed Yardeni boldly stating that the bond vigilantes will push yields higher if new Fed Chair Kevin Warsh doesn’t raise rates to combat mounting inflation at some point, the proverbial line in the sand has clearly been drawn. The 30-year bond closed the day at 5.13%, unchanged, and the benchmark 10-year note at 4.59%, also unchanged from Friday. 

Oil and Gas: For the first time in over a week, pricing across the energy complex was flat to down, and one thing is for sure. The pressure is mounting on President Trump to wrap up the situation in Iran and reopen the Strait of Hormuz for energy transit. When the dust finally settled Monday, Brent Crude closed the day almot 1% at $108.20, while West Texas Intermediate was marginally higher at $101.30. Natural gas, which has been strong recently, closed the session at $3.02, up 2.13%, as the United States LNG production and sales are quickly becoming the backbone of the world’s gas supply. 

Gold: After a rough end to last week, precious metals trended higher on Monday as investors bought into the recent weakness. While the same issues that have muddied the water for almost every asset class since the start of the war with Iran, gold and silver have started to put in a solid base at current trading levels, and could be poised for big moves higher when the Iran issues are resolved. The final trade for Gold was reported at $4,561, up 0.50%, while Silver was last seen at $77.40, up 2.06%. 

Crypto: Cryptocurrencies declined on Monday amid a broad sell-off, with Bitcoin sliding to a two-week low near $76,400. The drop triggered more than $660 million in liquidations across the crypto market, as rising bond yields, persistent inflation, and geopolitical tensions weighed on investor risk appetite. It confirms what many have been saying about the crypto market for months: most upticks and positive days are likely mostly short covering. At 8 AM EDT, Bitcoin was trading at $76,680, while Ethereum was quoted at $2,111. 

24/7 Wall St. reviews dozens of analyst research reports daily to identify new investment ideas for both investors and traders. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock. 

Here are some of the top Wall Street analyst upgrades, downgrades, and initiations seen on Tuesday, May 19, 2026.  

Upgrades: American Tower (NYSE: AMT | AMT Price Prediction) was upgraded to Outperform from Market Perform at Bernstein, which has a $207 target price for the shares. Assured Guaranty (NYSE: AGO) was upgraded to Buy from Neutral at UBS, with a $94 target price. Credicorp (NYSE: BAP) was raised to Buy from Hold at HSBC, with the target price for the stock bumped to $350 from $320. Jazz Pharmaceuticals (NASDAQ: JAZZ) was raised to Buy from Neutral at UBS, which launched the target price for the stock to $307 from $188. Stubhub Holdings (NYSE: STUB) was upgraded to Buy from Neutral at Guggenheim, which lifted the target price for the share to $12.50 from $8.50. Downgrades: Bank of America (NYSE: BAC) was downgraded to Hold from Buy at CFRA, without a target price. Citigroup (NYSE: C) was also cut to Hold from Buy at CFRA, without a target price. CrowdStrike Holdings (NASDAQ: CRWD) was double downgraded to Sell from Buy at DZ Bank, with a $500 target price. Fortinet (NASDAQ: FTNT) was also double downgraded to Sell from Buy at DZ Bank, with a $125 target price. Hanover Insurance Group (NYSE: THG) was downgraded to Market Perform from Outperform at BMO Capital, which bumped the target price for the stock to $203 from $194. Initiations: Alnylam Pharmaceuticals (NASDAQ: ALNY) was initiated with a Buy rating at Citigroup, which has set a $380 price target for the shares. BioMarin Pharmaceutical (NASDAQ: BMRN) was initiated with a Buy rating at Citigroup with a $75 target price. Cemex SAB (NYSE: CX) was assumed with a Neutral rating at Grupo Santander with a $14 target price. X-Energy (NASDAQ: XE) was started with a Buy rating at UBS, with a $40 target. JPMorgan has an Overweight rating for the stock with a $38 target, while UBS has a Buy rating and a nd a $40 target price. The stock was a recent successful IPO, backed by Amazon and Ken Griffin from Citadel. Zeta Global Holdings (NYSE: ZETA) was initiated with a Buy rating at Bank of America, with a $24 target price objective.

Study met primary endpoint, exceeding expectations with a highly statistically significant improvement in annualized growth velocity (AGV, change from baseline) of 2.33 cm/yr compared to placebo at week 52, as well as statistically significant increases in standing height and height Z-score

Study demonstrated statistically significant improvement in arm span at week 52 compared to placebo, a key measure linked to functional independence

Safety findings consistent with the established profile in achondroplasia with no new safety signals identified

Supplemental New Drug Application (sNDA) submission to U.S. Food and Drug Administration (FDA) planned for third quarter, followed by submissions to the European Medicines Agency (EMA) and other regional health authorities

 Full data to be presented at an upcoming medical meeting 

, /PRNewswire/ -- BioMarin Pharmaceutical Inc. (Nasdaq: BMRN) today announced that the Phase 3 CANOPY-HCH-3 study evaluating treatment with VOXZOGO® (vosoritide) in children with hypochondroplasia met its primary endpoint, demonstrating a statistically significant increase in the change from baseline at week 52 in annualized growth velocity (AGV) compared to placebo (LS mean difference +2.33 cm/yr, p<0.0001). Children who received VOXZOGO also showed a statistically significant increase in standing height (p<0.0001) and height Z-score (p<0.0001) versus placebo after one year of treatment.

Additionally, significant improvements in arm span were demonstrated (p=0.004), a key prespecified secondary endpoint in the study. These positive findings could have important implications for children with hypochondroplasia, offering improvements in reach, daily activities and independence, which have been highlighted as meaningful outcomes by the community.

"As someone who treats children with hypochondroplasia, I find these positive results tremendously encouraging. Seeing these improvements in growth is a milestone we have hoped for after so many years without treatment options," said Dr. Andrew Dauber, who is the lead study investigator and Chief of Endocrinology at Children's National Hospital in Washington, D.C. "These data suggest we may be approaching a new era in how we care for children with hypochondroplasia."

"For the first time, a pivotal Phase 3 study in hypochondroplasia has demonstrated impressive gains in growth, including improvements in arm span, highlighting VOXZOGO's potential to fundamentally change the treatment landscape for this condition," said Greg Friberg, M.D., Executive Vice President and Chief Research & Development Officer at BioMarin. "We are incredibly pleased with these results, which exceeded our expectations for this study, and we are deeply grateful to the families and investigators who made this outcome possible. We look forward to sharing these data with regulatory authorities and the broader community as we work to bring this medicine to children living with hypochondroplasia around the world."

The safety findings in the study for VOXZOGO were consistent with the established profile in achondroplasia and no new safety signals were observed. Full results from the CANOPY-HCH-3 study will be presented at an upcoming medical meeting.

The supplemental New Drug Application (sNDA) submission to the U.S. Food and Drug Administration (FDA) is planned for the third quarter of 2026, followed by submissions to the European Medicines Agency (EMA) and other regional health authorities.

About CANOPY-HCH-3

CANOPY-HCH-3 (Study 111-303) is a global Phase 3, 1:1 randomized, double-blind, placebo-controlled, multicenter study designed to evaluate the efficacy and safety of VOXZOGO in 80 children ages 3 to 17 with hypochondroplasia. The primary endpoint of the study was change from baseline in annualized growth velocity (AGV) at 52 weeks compared to placebo. Key secondary pre-specified endpoints included changes from baseline in standing height, height Z-score, arm span, upper to lower body segment ratio, and health-related quality of life, along with assessments of safety and tolerability. Study participants will continue to be followed in a long-term extension study.

About Hypochondroplasia

Hypochondroplasia is a rare, genetic skeletal dysplasia characterized by impaired bone growth, leading to disproportionate short stature and skeletal differences that can affect the long bones, spine, and other parts of the skeleton and may impact physical functioning and overall quality of life. The condition presents with a broad and variable clinical spectrum and may include otolaryngologic (related to the ears, nose and throat) and neurological complications and is often diagnosed in toddlerhood or early school age based on clinical and radiological findings.

There are currently no medicines approved by the U.S. Food and Drug Administration or the European Medicines Agency for the treatment of hypochondroplasia.

For more information about our clinical trials in hypochondroplasia, achondroplasia and other skeletal conditions, please visit clinicaltrials.biomarin.com.

About VOXZOGO (vosoritide)

VOXZOGO is approved in the U.S., Japan and Australia to increase linear growth in children of all ages with achondroplasia with open epiphyses, and VOXZOGO is indicated in the EU for the treatment of achondroplasia in children 4 months of age and older whose epiphyses are not closed, as confirmed by appropriate genetic testing. In the U.S., this indication is approved under accelerated approval based on an improvement in annualized growth velocity. Continued approval may be contingent upon verification and description of clinical benefit in confirmatory trial(s). To fulfill this post-marketing requirement, BioMarin submitted its U.S. supplemental New Drug Application (sNDA) for full approval of VOXZOGO for achondroplasia in April 2026, and the company expects to be notified of sNDA acceptance by the third quarter of 2026.

The use of VOXZOGO to treat hypochondroplasia has not yet been approved by any regulatory agency.

VOXZOGO U.S. Important Safety Information

What is VOXZOGO used for?

VOXZOGO is a prescription medicine used to increase linear growth in children with achondroplasia and open growth plates (epiphyses). VOXZOGO is approved under accelerated approval based on an improvement in annualized growth velocity. Continued approval may be contingent upon verification and description of clinical benefit in confirmatory trials. What is the most important safety information about VOXZOGO?

VOXZOGO may cause serious side effects including a temporary decrease in blood pressure in some patients. To reduce the risk of a decrease in blood pressure and associated symptoms (dizziness, feeling tired, or nausea), patients should eat a meal and drink 8 to 10 ounces of fluid within 1 hour before receiving VOXZOGO. What are the most common side effects of VOXZOGO?

The most common side effects of VOXZOGO include injection site reactions (including redness, itching, swelling, bruising, rash, hives, and injection site pain), high levels of blood alkaline phosphatase shown in blood tests, vomiting, joint pain, decreased blood pressure, and stomachache. These are not all the possible side effects of VOXZOGO. Ask your healthcare provider for medical advice about side effects, and about any side effects that bother the patient or that do not go away. How is VOXZOGO taken?

VOXZOGO is taken daily as an injection given under the skin, administered by a caregiver after a healthcare provider determines the caregiver is able to administer VOXZOGO. Do not try to inject VOXZOGO until you have been shown the right way by your healthcare provider. VOXZOGO is supplied with Instructions for Use that describe the steps for preparing, injecting, and disposing VOXZOGO. Caregivers should review the Instructions for Use for guidance and any time they receive a refill of VOXZOGO in case any changes have been made. Inject VOXZOGO 1 time every day, at about the same time each day. If a dose of VOXZOGO is missed, it can be given within 12 hours from the missed dose. After 12 hours, skip the missed dose and administer the next daily dose as usual. The dose of VOXZOGO is based on body weight. Your healthcare provider will adjust the dose based on changes in weight following regular check-ups. Your healthcare provider will monitor the patient's growth and tell you when to stop taking VOXZOGO if they determine the patient is no longer able to grow. Stop administering VOXZOGO if instructed by your healthcare provider. What should you tell the doctor before or during taking VOXZOGO?

Tell your doctor about all of the patient's medical conditions including If the patient has heart disease (cardiac or vascular disease), or if the patient is on blood pressure medicine (anti-hypertensive medicine). If the patient has kidney problems or renal impairment. If the patient is pregnant or plans to become pregnant. It is not known if VOXZOGO will harm the unborn baby. If the patient is breastfeeding or plans to breastfeed. It is not known if VOXZOGO passes into breast milk. Tell your doctor about all of the medicines the patient takes, including prescription and over-the-counter medicines, vitamins, and herbal supplements. You may report side effects to BioMarin at 1-866-906-6100. You are encouraged to report negative side effects of prescription drugs to the FDA. Visit www.fda.gov/medwatch, or call 1-800-FDA-1088.

Please see additional safety information in the full Prescribing Information and Patient Information.

About BioMarin

BioMarin is a leading, global rare disease biotechnology company focused on delivering medicines for people living with genetically defined conditions. Founded in 1997, the San Rafael, California-based company has a proven track record of innovation, with a portfolio of commercial therapies and a strong clinical and preclinical pipeline. Using a distinctive approach to drug discovery and development, BioMarin seeks to unleash the full potential of genetic science by pursuing category-defining medicines that have a profound impact on patients. To learn more, please visit www.biomarin.com. 

Forward-Looking Statements

This press release contains forward-looking statements about the business prospects of BioMarin Pharmaceutical Inc. (BioMarin), including without limitation, statements about: the development of BioMarin's VOXZOGO program generally, and the results of the pivotal Phase 3 CANOPY-HCH-3 study evaluating treatment with VOXZOGO in children with hypochondroplasia particularly; the safety profile and potential benefits of VOXZOGO for children with hypochondroplasia, including VOXZOGO's potential to fundamentally change the treatment landscape for hypochondroplasia; BioMarin's plans to submit for regulatory approval to global health authorities in the second half of 2026; and BioMarin's expectations regarding the demand for VOXZOGO. These forward-looking statements are predictions and involve risks and uncertainties such that actual results may differ materially from these statements. These risks and uncertainties include, among others, the final analysis of the results from CANOPY-HCH-3, any potential adverse events observed in the continuing monitoring of the patients in the clinical trials; the content and timing of decisions by the U.S. Food and Drug Administration, the European Medicines Agency, the European Commission and other regulatory authorities; and those factors detailed in BioMarin's filings with the Securities and Exchange Commission (SEC), including, without limitation, the factors contained under the caption "Risk Factors" in BioMarin's Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, as such factors may be updated by any subsequent filings with the SEC. Investors are urged not to place undue reliance on forward-looking statements, which speak only as of the date hereof. BioMarin is under no obligation, and expressly disclaims any obligation to update or alter any forward-looking statement, whether as a result of new information, future events or otherwise. 

BioMarin® and VOXZOGO® are registered trademarks of BioMarin Pharmaceutical Inc.

Contacts:

Investors

Media

Traci McCarty

Andrew Villani

BioMarin Pharmaceutical Inc.

BioMarin Pharmaceutical Inc.

(415) 455-7558

(628) 269-7393

SOURCE BioMarin Pharmaceutical Inc.

Hypochondroplasia is a form of genetic, short-limbed dwarfism.

The study met its primary endpoint, showing a statistically significant improvement in annualized growth velocity compared to placebo, which has excited investors and analysts alike.

VOXZOGO Study Meets Primary EndpointThe CANOPY-HCH-3 study demonstrated a 2.33 cm/year increase in annualized growth velocity at week 52, significantly exceeding expectations.

With plans for a supplemental New Drug Application submission to the FDA in the third quarter of 2026, these results could pave the way for new treatment options in a market currently lacking approved therapies for hypochondroplasia.

Additionally, significant improvements in arm span were demonstrated (p=0.004), a key prespecified secondary endpoint in the study.

“For the first time, a pivotal Phase 3 study in hypochondroplasia has demonstrated impressive gains in growth, including improvements in arm span, highlighting VOXZOGO’s potential to fundamentally change the treatment landscape for this condition,” said Greg Friberg, EVP and Chief Research & Development Officer at BioMarin

Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price target of $87.47. Recent analyst moves include:

B of A Securities: Buy (Lowers Target to $80.00) (May 19) Citigroup: Initiated with Buy (Target $75.00) (May 19) HC Wainwright & Co.: Neutral (Lowers Target to $50.00) (May 18) How BioMarin Ranks On Value And MomentumBelow is the Benzinga Edge scorecard for BioMarin Pharmaceuticals, highlighting its strengths and weaknesses compared to the broader market:

Value: 67.93 — The stock is performing moderately well in terms of value metrics. Momentum: 12.86 — Stock is underperforming the broader market. BMRN Price Action: BioMarin Pharmaceutical shares were up 8.05% at $54.24 at the time of publication on Thursday, according to Benzinga Pro data.

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A month has gone by since the last earnings report for BioMarin Pharmaceutical (BMRN - Free Report) . Shares have added about 0.2% in that time frame, underperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is BioMarin due for a pullback? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent drivers for BioMarin Pharmaceutical Inc. before we dive into how investors and analysts have reacted as of late.

Q1 Earnings Miss, Sales Beat EstimatesBioMarin reported first-quarter 2026 adjusted earnings per share of 76 cents, missing the Zacks Consensus Estimate of 94 cents. However, earnings declined 33% year over year. This was largely due to a $31 million charge tied to the company’s unsuccessful campaign to extend Naglazyme manufacturing capabilities, as well as higher operating expenses associated with the acquisition of Amicus Therapeutics.

Total revenues in the first quarter were $766.2 million, up 3% year over year. The figure beat the Zacks Consensus Estimate of $762.4 million.

Quarter in DetailNet product revenues totaled nearly $760.1 million, up 3.5% year over year on higher revenues from the company’s Enzyme Therapies, as well as Voxzogo.

Royalty and other revenues totaled $6.1 million, down about 42% year over year.

Voxzogo generated sales of $220 million, up 3% year over year. Per the company, this modest upside was expected, as it had previously experienced large orders for the drug in the fourth quarter of 2025. Despite this, Voxzogo sales beat the Zacks Consensus Estimate of $216 million.

BioMarin reports consolidated revenues from five products — Aldurazyme, Brineura, Naglazyme, Palynziq and Vimizim — under a single segment, “Enzyme Therapies.” Sales from this franchise increased 6% year over year to $514 million in the reported quarter, driven by higher product sales of Vimizim, Naglazyme and Brineura.

Palynziq injection sales totaled $90 million in the quarter, down 3% year over year, impacted by order timing in the United States. The drug’s sales missed the Zacks Consensus Estimate of $112 million.

Vimizim sales rose 12% year over year to $210 million, which beat the Zacks Consensus Estimate of $194 million.

Naglazyme sales increased 14% year over year to $130 million. Brineura generated sales of $47 million, up 18%.

Product revenues from Aldurazyme totaled $37 million, down 24% year over year.

Roctavian generated $3 million in sales compared with $11 million in the year-ago period. This downside is attributable to the company’s decision to voluntarily withdraw the product from the market.

Kuvan revenues declined 4% to $24 million due to generic competition.

2026 GuidanceIn April 2026, BioMarin announced that it completed the acquisition of Amicus Therapeutics for $4.8 billion. With this transaction, the company now expects to record total revenues in the range of $3.83-$3.93 billion in 2026, up from the previous guidance of $3.33-$3.43 billion. This new guidance, which includes contributions from Amicus’ marketed drugs, suggests growth of 20% at the mid-point of the range. Management expects to generate more than 55% of the overall 2026 revenues in the second half of the year.

While BioMarin reiterated its Voxzogo sales guidance to be in the range of $975 million to $1.03 billion, it now expects enzyme therapies revenues to be between $2.73 billion and $2.78 billion (previously: $2.23-$2.28 billion). Despite the decline in first-quarter sales, BMRN expects Palynziq sales to increase in 2026, primarily boosted by the drug’s recent approval in adolescents with PKU.

Since the company has accounted for the Amicus Therapeutics acquisition as a business combination, it will result in intangible amortization impacting GAAP results over future periods and will be excluded from Non???GAAP results. However, both these results will be impacted by interest expense related to the Amicus financing.

BioMarin has revised its adjusted earnings per share (EPS) to be in the range of $4.85-$5.05 for the year, down from the previous guidance of $4.95-$5.15. While the company expects about two-thirds of this figure to be recognized in the second half of the year, it projects the adjusted EPS in the second quarter to be modestly higher than in the first quarter.

How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in estimates revision.

The consensus estimate has shifted -25.57% due to these changes.

VGM ScoresAt this time, BioMarin has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a score of A on the value side, putting it in the top 20% for value investors.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions looks promising. Notably, BioMarin has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry PlayerBioMarin belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Illumina (ILMN - Free Report) , has gained 16.9% over the past month. More than a month has passed since the company reported results for the quarter ended March 2026.

Illumina reported revenues of $1.09 billion in the last reported quarter, representing a year-over-year change of +4.8%. EPS of $1.15 for the same period compares with $0.97 a year ago.

For the current quarter, Illumina is expected to post earnings of $1.24 per share, indicating a change of +4.2% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Illumina. Also, the stock has a VGM Score of C.

Oscar Health, Inc. (OSCR - Free Report) closed the most recent trading day at $16.44, moving +1.67% from the previous trading session. This move outpaced the S&P 500's daily gain of 1.05%. Elsewhere, the Dow gained 0.69%, while the tech-heavy Nasdaq added 1.64%.

The company's stock has climbed by 34.41% in the past month, exceeding the Finance sector's gain of 7.36% and the S&P 500's gain of 8.59%.

The upcoming earnings release of Oscar Health, Inc. will be of great interest to investors. The company's earnings report is expected on May 6, 2026. The company's earnings per share (EPS) are projected to be $1.21, reflecting a 31.52% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $4.89 billion, showing a 60.62% escalation compared to the year-ago quarter.

For the full year, the Zacks Consensus Estimates are projecting earnings of $0.2 per share and revenue of $18.91 billion, which would represent changes of +111.83% and +61.62%, respectively, from the prior year.

Investors should also take note of any recent adjustments to analyst estimates for Oscar Health, Inc. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Oscar Health, Inc. presently features a Zacks Rank of #3 (Hold).

Looking at valuation, Oscar Health, Inc. is presently trading at a Forward P/E ratio of 79.53. This valuation marks a premium compared to its industry average Forward P/E of 10.

The Insurance - Multi line industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 145, which puts it in the bottom 41% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

Oscar Health, Inc. (OSCR - Free Report) ended the recent trading session at $18.46, demonstrating a +2.96% change from the preceding day's closing price. This change outpaced the S&P 500's 1.02% gain on the day. On the other hand, the Dow registered a gain of 1.62%, and the technology-centric Nasdaq increased by 0.89%.

Shares of the company have appreciated by 52.86% over the course of the past month, outperforming the Finance sector's gain of 7.2%, and the S&P 500's gain of 12.23%.

Analysts and investors alike will be keeping a close eye on the performance of Oscar Health, Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on May 6, 2026. It is anticipated that the company will report an EPS of $1.21, marking a 31.52% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $4.89 billion, reflecting a 60.62% rise from the equivalent quarter last year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $0.2 per share and revenue of $18.91 billion, which would represent changes of +111.83% and +61.62%, respectively, from the prior year.

Investors should also take note of any recent adjustments to analyst estimates for Oscar Health, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Oscar Health, Inc. currently has a Zacks Rank of #3 (Hold).

In the context of valuation, Oscar Health, Inc. is at present trading with a Forward P/E ratio of 88.18. This valuation marks a premium compared to its industry average Forward P/E of 9.52.

The Insurance - Multi line industry is part of the Finance sector. With its current Zacks Industry Rank of 144, this industry ranks in the bottom 41% of all industries, numbering over 250.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

NEW YORK--(BUSINESS WIRE)--Oscar Health, Inc. (“Oscar” or the “Company”) (NYSE: OSCR) announced today its financial results for the first quarter ended March 31, 2026.

“Oscar Health drove solid first-quarter performance with significant year-over-year improvements across our core metrics,” said Mark Bertolini, CEO of Oscar Health. “We are reaffirming our guidance and remain on track to significantly expand margins and achieve meaningful profitability in 2026. Consumers expect to shop for healthcare like everyday products – on choice, price, and value. Oscar’s exceptional technology, lifestyle products, and member experience deliver exactly that. The workforce is shifting, the individual market is resilient, and Oscar is leading the transition to a consumer-driven health economy.”

Oscar is reaffirming its full year 2026 outlook across all metrics as provided in its financial results press release dated February 10, 2026.

First Quarter 2026 Financial Highlights

Three Months Ended March 31,

(in thousands, except percentages)

2026

2025

Total revenue

$4,647,194

$3,046,263

Medical loss ratio (“MLR”)

70.5%

75.4%

Selling, general, and administrative (“SG&A”) expense ratio

15.2%

15.8%

Earnings from operations

$704,085

$297,123

Net income attributable to Oscar Health, Inc.

$678,996

$275,271

Adjusted EBITDA(1)

$727,072

$328,828

(1) Adjusted EBITDA is a non-GAAP measure. See “Key Operating and Non-GAAP Financial Metrics - Adjusted EBITDA” in this release for a reconciliation to net income, the most directly comparable GAAP measure, and for information regarding Oscar’s use of Adjusted EBITDA.

As of March 31,

Membership by Offering

2026

2025

Individual and Small Group (1)

3,174,489

2,021,484

Cigna+Oscar (2)

—

17,983

Total Members

3,174,489

2,039,467

(1) 2025 membership includes small group members. The Company no longer offers small group plans effective December 15, 2024.

(2) Represents total membership for our former co-branded partnership with Cigna. We did not renew the Cigna+Oscar Small Group arrangement after its initial term ended on December 31, 2024.

First Quarter 2026 Key Metrics and Non-GAAP Financial Metrics

Total revenue was approximately $4.6 billion for the first quarter of 2026 compared to $3.0 billion for the first quarter of 2025. The increase was driven by higher membership and rate increases, partially offset by an increase in the net risk adjustment transfer accrual. The medical loss ratio was 70.5% for the first quarter of 2026 compared to 75.4% for the first quarter of 2025. The decrease was primarily due to our disciplined pricing strategy, claims and risk adjustment seasonality from metal and new member mix, and favorable prior period reserve development. The Company had $68 million of favorable development in the first quarter of 2026 compared to $31 million of unfavorable development in the first quarter of 2025. The SG&A expense ratio was 15.2% for the first quarter of 2026 compared to 15.8% for the first quarter of 2025. The decrease was primarily due to greater fixed cost leverage and disciplined cost management, partially offset by the impact of higher risk adjustment as a percentage of premium. Earnings from operations was $704.1 million for the first quarter of 2026 compared to earnings from operations of $297.1 million for the first quarter of 2025. The significant increase reflects strong operating performance driven primarily by higher membership, rate increases, favorable prior period development, and fixed cost leverage. Net income attributable to Oscar Health, Inc. was $679.0 million, or $2.07 of diluted earnings per share, for the first quarter of 2026 compared to Net income attributable to Oscar Health, Inc. of $275.3 million, or $0.92 of diluted earnings per share, for the first quarter of 2025. Adjusted EBITDA was $727.1 million for the first quarter of 2026 compared to Adjusted EBITDA of $328.8 million for the first quarter of 2025. Quarterly Conference Call Details

Oscar will host a conference call to discuss its financial results today, May 6, 2026, at 8:00 a.m. (ET). Investors and other interested parties are invited to listen to the conference call by dialing 1-855-761-5600 and entering the following conference ID: 7768132. A live audio webcast will also be available via the Investor Relations page of Oscar’s website at ir.hioscar.com. A replay of the webcast will be available for on-demand listening shortly after the completion of the call, at the same web link, and will remain available for approximately 90 days.

Non-GAAP Financial Information

This release presents Adjusted EBITDA, a non-GAAP financial metric, which is provided as a complement to the results provided in accordance with accounting principles generally accepted in the United States of America (“GAAP”). A reconciliation of historical non-GAAP financial information to the most directly comparable GAAP financial measure is provided in the accompanying tables found at the end of this release. For more information regarding Adjusted EBITDA, please see “Key Operating and Non-GAAP Financial Metrics” below.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contained herein are forward-looking statements. These statements include, but are not limited to, statements about our financial outlook and estimates, including Total revenue, Medical loss ratio, SG&A expense ratio, Earnings (loss) from operations, and other financial performance metrics, and the related underlying assumptions, our business and financial prospects, including management’s plans and objectives for future operations, expectations and business strategy, such as our 2026 margins and profitability, and industry and market dynamics and expected trends. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “forecasts,” “predicts,” “potential,” or “continues” or the negative of these terms or other similar expressions. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions, and uncertainties that are difficult to predict and generally beyond our control.

Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, there are or will be important factors that could cause our actual results to differ materially from those indicated in these forward-looking statements, including, but not limited to, the following: our ability to execute our strategy and manage our growth effectively (including our ability to successfully integrate strategic acquisitions); our ability to retain and expand our member base; our ability to accurately estimate our incurred medical expenses or overall market morbidity, or effectively manage our medical costs or related administrative costs; unanticipated results of, or changes to, risk adjustment programs or our estimates thereof; evolving federal or state laws or regulations (including any changes in the interpretation or enforcement of existing laws and regulations), including changes with respect to the Patient Protection and Affordable Care Act and any regulations enacted thereunder, the expiration of the enhanced Advanced Premium Tax Credits, the implementation of new program integrity rules, the potential funding of a cost-sharing reduction program, or other government actions, such as the imposition of tariffs; our ability to achieve or maintain profitability in the future; our ability to arrange for the delivery of quality care and maintain good relations with brokers and the physicians, hospitals, and other providers within and outside our provider networks; our ability to comply with ongoing, complex and evolving regulatory requirements, including capital reserve and surplus requirements and applicable performance standards; changes or developments in the regulation of health insurance markets in the United States; our, or any of our vendors’, ability to comply with laws, regulations, and standards related to the handling of information about individuals or applicable consumer protection laws, including as a result of our participation in government-sponsored programs; the ability of our health insurance and Health Maintenance Organization subsidiaries to make payments of dividends or distributions to us, including to fund our business strategy; our ability to utilize quota share reinsurance to meet our capital and surplus requirements and protect against downside risk on medical claims; adverse market conditions resulting in our investment portfolio suffering losses or reducing our ability to meet our financing needs; unfavorable or otherwise costly outcomes of lawsuits, audits, investigations, and other third party claims that may arise from the extensive laws and regulations to which we are subject; incurrence of data security breaches of our or our partners’ information and technology systems; heightened competition in the markets in which we participate; our ability to attract and retain qualified personnel; uncertainties associated with our utilization of certain artificial intelligence (“AI”) and machine learning models; our ability to detect and prevent material weaknesses or significant control deficiencies in our internal controls over financial reporting or other failure to maintain an effective system of internal controls; adverse publicity or other adverse consequences related to our dual class structure or “controlled company” status; and the other factors set forth under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the Securities and Exchange Commission (“SEC”), and our other filings with the SEC.

You are cautioned not to place undue reliance on any forward-looking statements made in this press release. Any forward-looking statement speaks only as of the date as of which it is made, and, except as otherwise required by law, we do not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. New factors emerge from time to time, and it is not possible for us to predict which will arise.

About Oscar Health

Oscar Health, Inc. is a leading healthcare technology company built on a full-stack platform and a relentless focus on member experience. Oscar Health helps make high-quality and affordable care more accessible for millions of people through Oscar’s Individual & Family plans and ICHRA solutions, +Oscar technology services, and Lucie Health Marketplace. Consumers benefit from better choice, deeper engagement, and connection to high-value clinical care.

Oscar Health, Inc.

Condensed Consolidated Statements of Operations

(unaudited)

  Three Months Ended March 31,

(in thousands, except per share amounts)

2026

2025

Revenue

Premium

$

4,580,862

$

2,995,821

Investment income

60,614

46,112

Other revenues

5,718

4,330

Total revenue

4,647,194

3,046,263

Operating Expenses

Medical

3,229,857

2,259,651

Selling, general, and administrative

706,234

482,759

Depreciation and amortization

7,018

6,730

Total operating expenses

3,943,109

2,749,140

Earnings from operations

704,085

297,123

Interest expense

5,383

5,994

Other expenses (income)

(71

)

2,918

Earnings before income taxes

698,773

288,211

Income tax expense

19,750

12,705

Net income

679,023

275,506

Less: Net income attributable to noncontrolling interests

27

235

Net income attributable to Oscar Health, Inc.

$

678,996

$

275,271

Earnings per Share

Basic

$

2.28

$

1.10

Diluted

$

2.07

$

0.92

Weighted Average Common Shares Outstanding

Basic

298,184

251,279

Diluted

329,751

305,938

  Oscar Health, Inc.

Condensed Consolidated Balance Sheets

(unaudited)

  (in thousands, except per share amounts)

March 31, 2026

December 31, 2025

Assets

Current Assets:

Cash and cash equivalents

$

4,805,139

$

2,774,151

Short-term investments

1,994,644

1,216,461

Accounts receivable (net of allowance for credit losses of $7,171 and $7,226)

587,023

362,682

Receivables from CMS (1)

222,195

136,029

Reinsurance recoverable

142,487

99,750

Other current assets

25,817

24,331

Total current assets

7,777,305

4,613,404

Property, equipment, and capitalized software, net

94,194

88,350

Long-term investments

1,266,775

1,470,987

Restricted deposits

28,631

32,951

Other assets

122,741

119,719

Total assets

$

9,289,646

$

6,325,411

Liabilities and Stockholders' Equity

Current Liabilities:

Benefits payable

$

1,734,051

$

1,455,385

Payables to CMS (1)

4,723,244

2,730,095

Accounts payable and other liabilities

505,943

507,325

Unearned premiums

172,004

166,203

Reinsurance payable

5,112

3,579

Total current liabilities

7,140,354

4,862,587

Long-term debt

430,876

430,095

Other liabilities

51,368

51,994

Total liabilities

7,622,598

5,344,676

Commitments and contingencies

Stockholders' Equity

Class A common stock ($0.00001 par value; 825,000 thousand shares authorized, 263,552 thousand and 261,851 thousand shares outstanding as of March 31, 2026 and December 31, 2025, respectively)

3

3

Class B common stock ($0.00001 par value; 82,500 thousand shares authorized, 35,591 thousand and 35,838 thousand shares outstanding as of March 31, 2026 and December 31, 2025, respectively)

—

—

Treasury stock (315 thousand shares as of March 31, 2026 and December 31, 2025)

(2,923

)

(2,923

)

Additional paid-in capital

4,277,292

4,256,972

Accumulated deficit

(2,615,438

)

(3,294,434

)

Accumulated other comprehensive income

5,000

18,030

Total Oscar Health, Inc. stockholders' equity

1,663,934

977,648

Noncontrolling interests

3,114

3,087

Total stockholders' equity

1,667,048

980,735

Total liabilities and stockholders' equity

$

9,289,646

$

6,325,411

(1) Centers for Medicare & Medicaid Services

  Oscar Health, Inc.

Condensed Consolidated Statements of Cash Flows

(unaudited)

  Three Months Ended March 31,

(in thousands)

2026

2025

Cash Flows from Operating Activities:

Net income

$

679,023

$

275,506

Adjustments to reconcile net income to net cash provided by (used in) operating activities:

Deferred taxes

(6,204

)

36

Net realized gain on sale of financial instruments

(4

)

(119

)

Depreciation and amortization expense

7,018

6,730

Amortization of debt issuance costs

1,015

194

Stock-based compensation expense

15,969

24,975

Net accretion of investments

(7,077

)

(7,673

)

Change in provision for credit losses

(55

)

(8,650

)

Changes in assets and liabilities:

(Increase) / decrease in:

Receivables from CMS (1)

(86,165

)

(88,745

)

Accounts receivable

(224,288

)

(97,827

)

Reinsurance recoverable

(42,737

)

103,990

Other assets

5,344

(13,265

)

Increase / (decrease) in:

Benefits payable

278,666

108,848

Payables to CMS (1)

1,993,149

571,443

Accounts payable and other liabilities

(2,007

)

24,294

Unearned premiums

5,800

(3,492

)

Reinsurance payable

1,533

(17,703

)

Net cash provided by operating activities

2,618,980

878,542

Cash Flows from Investing Activities:

Purchase of investments

(914,842

)

(336,869

)

Sale of investments

35,000

15,761

Maturity and paydowns of investments

299,243

155,906

Purchase of property, equipment and capitalized software

(8,794

)

(9,026

)

Change in restricted deposits

(860

)

—

Net cash used in investing activities

(590,253

)

(174,228

)

Cash Flows from Financing Activities:

Payments of debt issuance costs

(4,739

)

—

Tax payments related to net settlement of share-based awards

—

(855

)

Proceeds from exercise of stock options

1,139

5,728

Net cash (used in) provided by financing activities

(3,600

)

4,873

Increase in cash, cash equivalents and restricted cash equivalents

2,025,127

709,187

Cash, cash equivalents, restricted cash and cash equivalents—beginning of period

2,804,123

1,551,118

Cash, cash equivalents, restricted cash and cash equivalents—end of period

4,829,250

2,260,305

Cash and cash equivalents

4,805,139

2,236,555

Restricted cash and cash equivalents included in restricted deposits

24,111

23,750

Total cash, cash equivalents and restricted cash and cash equivalents

$

4,829,250

$

2,260,305

Supplemental Disclosures:

Interest payments

$

4,177

$

154

Income tax payments

$

44

$

—

(1) Centers for Medicare & Medicaid Services

  Key Operating and Non-GAAP Financial Metrics

We regularly review the following key operating and Non-GAAP financial metrics, to evaluate our business, measure our performance, identify trends in our business, prepare financial projections, and make strategic decisions. We believe these operational and financial measures are useful in evaluating our performance, in addition to our financial results prepared in accordance with GAAP.

Total Revenue

Total revenue includes premium revenue (net of risk adjustment transfers), investment income, and other revenues. We believe total revenue is an important metric to assess the growth of our business, as well as the earnings potential of our investment portfolio.

MLR

MLR is a metric used to calculate medical expenses as a percentage of net premiums before ceded quota share reinsurance. The impact of the federal risk adjustment program is included in the denominator of our MLR. We believe MLR is an important metric to demonstrate the ratio of our costs to pay for healthcare of our members to the net premium before ceded quota share reinsurance.

Three Months Ended March 31,

(in thousands, except percentages)

2026

2025

Net claims before ceded quota share reinsurance (A)

$

3,229,857

$

2,259,651

Net premiums before ceded quota share reinsurance (B)

$

4,580,862

$

2,995,821

Medical Loss Ratio (A divided by B)

70.5

%

75.4

%

SG&A Expense Ratio

The SG&A expense ratio reflects the Company’s selling, general, and administrative expenses, as a percentage of total revenue (net of risk adjustment transfers). We believe the SG&A expense ratio is useful to evaluate our ability to manage our overall selling, general, and administrative cost base.

Earnings (Loss) from Operations

Earnings (loss) from operations is the Company's total revenue less total operating expenses. We believe earnings (loss) from operations is an important primary metric for assessing operating performance.

Net Income (Loss) Attributable to Oscar Health, Inc.

Net income (loss) attributable to Oscar Health, Inc. is net earnings (loss) allocated to the Company after net income (loss) attributable to noncontrolling interests. It is a key indicator of the Company’s profitability and operational efficiency, allowing management to evaluate performance and make informed decisions on strategic planning, cost management, and resource allocation.

Adjusted EBITDA

Adjusted EBITDA is defined as Net income (loss) for the Company and its consolidated subsidiaries before interest expense, income tax expense (benefit), and depreciation and amortization, as further adjusted for stock-based compensation and other items that are considered unusual or not representative of underlying trends of our business, where applicable for the period presented. We present Adjusted EBITDA because we believe it is frequently used by securities analysts, investors, and other interested parties in the evaluation of companies in our industry. Adjusted EBITDA is a non-GAAP measure. Management believes that investors’ understanding of our performance is enhanced by including this non-GAAP financial measure as a reasonable basis for comparing our ongoing results of operations. We caution investors that amounts presented in accordance with our definition of Adjusted EBITDA may not be comparable to similar measures disclosed by our competitors, because not all companies and analysts calculate Adjusted EBITDA in the same manner.

By providing this non-GAAP financial measure, together with a reconciliation to the most comparable U.S. GAAP measure, Net income (loss), we believe we are enhancing investors’ understanding of our business and our results of operations, as well as assisting investors in evaluating how well we are executing our strategic initiatives. Adjusted EBITDA has limitations as an analytical tool, and should not be considered in isolation, or as an alternative to, or a substitute for, net income (loss) or other financial statement data presented in our Condensed Consolidated Financial Statements as indicators of financial performance.

Three Months Ended March 31,

(in thousands)

2026

2025

Net income

$

679,023

$

275,506

Interest expense

5,383

5,994

Other expenses (income)

(71

)

2,918

Income tax expense

19,750

12,705

Earnings from operations

704,085

297,123

Depreciation and amortization

7,018

6,730

Stock-based compensation(1)

15,969

24,975

Adjusted EBITDA

$

727,072

$

328,828

(1) Represents non-cash expenses related to equity-based compensation programs, which vary from period to period depending on various factors including the timing, number, and the valuation of awards. Additionally, these expenses are reported net of any stock-based compensation that has been capitalized for software development costs.

  Appendix

Supplemental Financial Information

Premium

The Company records premium revenue net of premiums for reinsurance contracts accounted for under reinsurance accounting. The following table reconciles total reinsurance premiums ceded and reinsurance premiums assumed, which are included as components of total premium revenue in the Condensed Consolidated Statements of Operations:

Three Months Ended March 31,

(in thousands)

2026

2025

Direct policy premiums

$

6,030,275

$

3,349,671

Risk adjustment transfers

(1,442,811

)

(373,749

)

Reinsurance premiums ceded

(5,618

)

(2,542

)

Assumed premiums (1)

(984

)

22,441

Premium

$

4,580,862

$

2,995,821

(1) The Company did not renew the Cigna+Oscar Small Group arrangement with Cigna Health and Life Insurance Company after its initial term ended on December 31, 2024. Following termination, the Company has been providing transition and run-off services, and will continue to provide such services through December 31, 2026. The Company also continues to share in premiums and claims for plans sold or issued prior to December 15, 2024.

Medical Expenses

The Company records medical expenses net of reinsurance recoveries for reinsurance contracts accounted for under reinsurance accounting. The following table reconciles total medical expenses to the amount presented in the Condensed Consolidated Statements of Operations:

Three Months Ended March 31,

(in thousands)

2026

2025

Direct claims incurred

$

3,293,837

$

2,268,284

Ceded reinsurance claims

(62,684

)

(31,012

)

Assumed reinsurance claims

(1,296

)

22,379

Medical expenses

$

3,229,857

$

2,259,651

Risk Adjustment

The risk adjustment programs in the markets the Company serves are administered federally by CMS and are designed to mitigate the potential impact of adverse selection and provide stability for health insurers. Under these programs, each plan is assigned a risk score based upon demographic information and current year claims information related to its members. Plans with lower than average risk scores generally pay into the pool, while plans with higher than average risk scores generally receive distributions. The following table provides a rollforward of the Company’s beginning and ending risk adjustment receivable and payable balances for the three months ended March 31, 2026 and 2025:

Three Months Ended March 31, 2026

Three Months Ended March 31, 2025

(in thousands)

Risk

Adjustment

Receivable

Risk

Adjustment

Payable

Net Risk

Adjustment

Payable

Risk

Adjustment

Receivable

Risk

Adjustment

Payable

Net Risk

Adjustment

Payable

Beginning balance (1)

$

56,066

$

2,587,700

$

2,531,634

$

64,779

$

1,558,341

$

1,493,562

Change in accrual:

Current year

$

16,112

$

1,374,310

$

1,358,198

$

25,666

$

306,870

$

281,204

Prior years (2)

5,132

89,745

84,613

(3,319

)

89,240

92,559

Change in accrual, net

$

21,244

$

1,464,055

$

1,442,811

$

22,347

$

396,110

$

373,763

Ending balance:

Current year

$

16,112

$

1,374,310

$

1,358,198

$

25,666

$

306,870

$

281,204

Prior years

61,198

2,677,445

2,616,247

61,460

1,647,581

1,586,121

Ending balance

$

77,310

$

4,051,755

$

3,974,445

$

87,126

$

1,954,451

$

1,867,325

(1) The table includes risk adjustment data validation (“RADV”) receivables and payables. The balance at the beginning of each year presented pertains to prior policy years.

(2) Includes immaterial payments for prior policy years.

More News From Oscar Health, Inc.

Oscar Health, Inc. (OSCR - Free Report) came out with quarterly earnings of $2.07 per share, beating the Zacks Consensus Estimate of $1.21 per share. This compares to earnings of $0.92 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +71.07%. A quarter ago, it was expected that this company would post a loss of $0.84 per share when it actually produced a loss of $1.24, delivering a surprise of -47.62%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Oscar Health, which belongs to the Zacks Insurance - Multi line industry, posted revenues of $4.65 billion for the quarter ended March 2026, missing the Zacks Consensus Estimate by 5.02%. This compares to year-ago revenues of $3.05 billion. The company has not been able to beat consensus revenue estimates over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Oscar Health shares have added about 24.8% since the beginning of the year versus the S&P 500's gain of 6%.

What's Next for Oscar Health?While Oscar Health has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Oscar Health was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.20 on $4.78 billion in revenues for the coming quarter and $0.20 on $18.91 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Insurance - Multi line is currently in the top 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, TWFG, Inc. (TWFG - Free Report) , is yet to report results for the quarter ended March 2026. The results are expected to be released on May 7.

This company is expected to post quarterly earnings of $0.20 per share in its upcoming report, which represents a year-over-year change of +25%. The consensus EPS estimate for the quarter has been revised 1.5% lower over the last 30 days to the current level.

TWFG, Inc.'s revenues are expected to be $66.63 million, up 23.8% from the year-ago quarter.

Oscar Health, Inc. (OSCR) Q1 2026 Earnings Call Transcript

How can Oscar Health (OSCR +2.31%), a small insurer in the ACA market, upend the healthcare giants? I sat down with CEO Mark Bertolini to discuss Oscar's growth plans and how it's different from the traditional insurers. In this conversation, we cover how Oscar is playing the role of the underdog, why the network is a differentiator, and how technology plays a role in the consumer experience.

*Stock prices used were end-of-day prices of May 21, 2026. The video was published on May 21, 2026.

Travis Hoium has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.

Top investors like Warren Buffett consistently say their favorite stocks are ones they can hold forever. If you have a high-quality business compounding value, it is highly favorable for you and your retirement account to sit back and let the wealth pile up. $10,000 invested in a stock yielding a 20% annual return will grow to just $25,000 after five years. But if you hold that same stock for 20 years, it will be worth $383,000. That could be much more meaningful to your retirement savings.

With this in mind, here are three high-quality disruptors I believe are great holds for the next 20 years, and why investors should consider buying today.

Image source: Getty Images.

1. A storied entertainment brand The most important factor in finding a stock to hold for 20 years is business durability. Perhaps no brand has been more durable in entertainment over the last few decades than Nintendo (NTDOY 0.27%). The family-friendly giant focused on gaming continues to develop high-quality content and remains the leading video game console seller worldwide.

It recently launched the Nintendo Switch 2 as its new flagship gaming hardware for the next five to 10 years, and it is selling like hotcakes. Twenty million units were sold last fiscal year ending in March, with close to the same projected in its second year at retail.

Today's Change

(

-0.27

%) $

-0.03

Current Price

$

11.10

Nintendo's business model works by selling gaming hardware to players at a thin profit margin, then making up the difference through high-margin game sales from first-party brands like Mario, Zelda, and Pokémon. The same playbook is being followed with the Nintendo Switch 2. Mario Kart World has sold 15 million copies, while a new Pokémon game sold 2.2 million copies within just four days after launch.

I expect the same playbook to work 20 years from now. With the stock down 54% from its highs amid fears over memory chips, Nintendo looks like a stock experiencing short-term pain that will deliver long-term gains for any investor who buys now.

2. The disruptor taking over the health insurance market No industry is perhaps more durable than healthcare. Everyone around the world needs some level of healthcare coverage, making the health insurance market a staple of the United States economy. Even if customers dislike their health insurance provider, they still have to pay premiums each and every year.

Oscar Health (OSCR +2.31%) is a new health insurance provider that aims to delight customers. Instead of bogging down users in confusing paperwork and unclear expenses, Oscar has built a cloud-based health insurance platform from the ground up that is much easier for all stakeholders to use.

With this technology advantage, Oscar Health has attacked legacy players in the individual payor market from the Affordable Care Act marketplace. Through consistent nationwide expansion of its coverage, the business has gained more and more individual health insurance customers each year. Last quarter, it hit 3.2 million paying customers, up from 1 million in Q1 2022.

These customer gains are helping Oscar Health scale up and finally turn a profit. This year, it is guiding for $19 billion in revenue and $250 million to $450 million in operating earnings. Compared to its current market cap of $6.8 billion, the stock looks mighty cheap if you believe it can keep stealing market share in health insurance in the coming years.

ADYEY PE Ratio data by YCharts

3. An underrated presence in payments processing No matter how the economy evolves, retailers will need to process payments from customers worldwide, both offline and online. Adyen (ADYEY 3.99%) believes it has the best payments infrastructure for global corporations, which is why it is gaining market share in payments processing.

It touts customers such as Spotify and Uber with complex processing needs, where Adyen can deliver the best execution -- meaning the highest percentage of payments that actually succeed at checkout -- compared to the competition.

The financial results show this outperformance and market share gains. In Q1 2026, Adyen's processed volume grew 21% year over year, with revenue growing 20% in constant currency. From 2016 through 2025, its revenue has grown by more than 10-fold as more enterprises adopt its checkout terminal for retail payments.

Right now, Adyen's stock is down in the gutter, off 66% from all-time highs, with a price-to-earnings ratio (P/E) of 29. With plenty of room to keep growing market share and a durable addressable market in retail payments, Adyen looks like a great opportunity for investors right now.

When looking for multibagger stocks, it is best to hunt in industries with huge addressable markets. Even if a company is the best brand in a sector, but that sector only has $100 million in annual spending and isn't growing, there will be a limit to the company's addressable market unless it can invent new products to serve customers.

One sector where size is not an issue is healthcare, specifically health insurance. Health insurance premiums in the United States are estimated at $1.6 trillion per year, and spending is set to increase faster than GDP due to the country's aging population.

Oscar Health (OSCR +2.31%) is a magnificent healthcare stock taking market share through its technology-focused health insurance offering. Here's why the rapid grower is set to deliver market-beating returns for years to come.

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Gaining share in a massive market The health insurance market changed in 2010 with the enactment of the Affordable Care Act (ACA), which created marketplaces that allow individuals to purchase their own health insurance through a regulated platform each year.

It got off to a bumpy start, but individual payors through the ACA now number around 20 million, making it a meaningful portion of the sector. Oscar has been a big part of this growth with its sole focus on the individual payor market today. Total paying members through Oscar Health plans reached 3.2 million last quarter, an over 50% boost from 2 million in the same quarter a year ago. This is growing much faster than the overall ACA market, indicating that Oscar Health is gaining significant market share.

Why? Because Oscar Health offers a better customer experience with its cloud-first digital platform, saving time and headaches (literally) for its health insurance stakeholders. Now, it is making a big push to transform the employer-led health insurance market to individual contribution plans. These plans allow employers to subsidize employee health insurance, but instead of putting everyone in homogeneous plans, people can use the funds to shop on the ACA marketplace, potentially choosing Oscar insurance.

Management sees a huge addressable market for individual employer-funded plans, potentially reaching 75 million small and mid-sized businesses. With only 3.2 million members last quarter, Oscar Health is guiding for $19 billion in revenue at the high end for 2026. If it can reach 10 million or more customers, that could mean $50 billion or more in annual premiums, depending on where healthcare inflation heads in the years ahead.

Image source: Getty Images.

The path to consistent profitability is technology efficiency Health insurers are highly regulated under the ACA marketplace, with a maximum loss ratio of 80% each year, leaving 20% of their premium revenue for overhead costs and profitability.

Through its growing scale and technology-driven efficiencies, Oscar Health has consistently reduced overhead costs as a percentage of revenue, which should lead to a nice profit inflection in 2026. It generated $700 million in operating income last quarter, with expectations of $250 million to $450 million in operating earnings for all of 2026 due to seasonality in healthcare utilization costs.

Over the long term, we should see continued progress in lowering its overhead costs as a percentage of revenue through greater nationwide scale. Combined with rapid revenue growth -- premium revenue is up 2,770% since 2021 -- Oscar Health can see a huge profit increase in the years ahead. A 5% profit margin on $50 billion in revenue is $2.5 billion in earnings, which could occur within the next five years.

OSCR Revenue (TTM) data by YCharts

Why Oscar Health can deliver market-beating returns Oscar Health stock is set up to crush the market in the years ahead if it simply keeps up its path of profit margin expansion and market share gains in health insurance payors.

Right now, the stock trades at a market cap of $6.6 billion. That results in a price-to-earnings multiple of 15, based on the high end of its 2026 earnings guidance, but, more importantly, just 2.5 times my profit assumption for when Oscar Health reaches $50 billion in revenue. That will not happen in 2026, but patient investors should be able to watch a huge profit inflection unfold over the decade ahead, leading to potentially massive stock price appreciation for investors who hold Oscar Health stock and never sell.

From a technical perspective, Oscar Health, Inc. (OSCR - Free Report) is looking like an interesting pick, as it just reached a key level of support. OSCR recently overtook the 20-day moving average, and this suggests a short-term bullish trend.

The 20-day simple moving average is a popular trading tool. It provides a look back at a stock's price over a 20-day period, and is beneficial to short-term traders since it smooths out price fluctuations and provides more trend reversal signals than longer-term moving averages.

Like other SMAs, if a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.

Over the past four weeks, OSCR has gained 23.7%. The company is currently ranked a Zacks Rank #3 (Hold), another strong indication the stock could move even higher.

The bullish case solidifies once investors consider OSCR's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 3 higher, while the consensus estimate has increased too.

Investors should think about putting OSCR on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.

The Conference CatalystThe Q1 FoundationOscar Shares Edge HigherOSCR Price Action: At the time of publication, Oscar shares are trading 4.81% higher at $28.53, according to data from Benzinga Pro.

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NNE stock is moving. See the chart and price action here.  James Walker, CEO of NANO Nuclear, told Benzinga that the rapid expansion of AI infrastructure is changing the way companies think about energy, compute and data center development.

"AI is becoming an energy story as much as a technology story," Walker said. "The conversation is shifting from ‘how much compute can we build?' to ‘where does the power come from?'"

AI Power Demand AI power demand sits at the center of NANO Nuclear's collaboration with Super Micro, which Walker said could eventually support a more integrated approach to AI data center development. 

Rather than treating power procurement and compute infrastructure as separate challenges, the companies are exploring a model where both are planned together from the start.

"AI infrastructure and power infrastructure are becoming inseparable," Walker said. "Historically, a data center developer would secure land, build the facility, and then hope the grid could support the project in time. That model is starting to break down as AI power demand accelerates."

Walker said AI data centers have become a focus for NANO Nuclear because of the scale and reliability requirements involved. Many facilities require massive amounts of continuous electricity, and grid constraints are already forcing some operators to wait years for sufficient capacity.

"The speed at which AI infrastructure is expanding has created a very real conversation around whether power availability itself becomes the limiting factor for growth," Walker said.

Microreactors for Data CentersNANO Nuclear sees microreactors as a potential solution for developers seeking dependable, on-site power. 

Walker said renewables and batteries have roles to play, but intermittency and duration limits can make them difficult fits for hyperscale AI workloads that require near-constant uptime. 

Natural gas can provide reliable power, but faces emissions concerns, fuel price volatility and infrastructure limitations.

"Microreactors are compelling because they can provide stable, carbon-free baseload power directly on-site, independent of grid congestion, while also reducing exposure to many of those infrastructure bottlenecks," Walker said.

The image below is a rendering of NANO’s Kronos MMR nuclear microreactor:

A New Compute + Power ModelThe Super Micro collaboration could eventually point toward a bundled "compute plus power" model for AI customers. 

Walker said combining nuclear power systems with server infrastructure, cooling systems and deployment expertise could create a more streamlined path for companies building new AI campuses.

"From the customer's perspective, that could eventually evolve into a far more streamlined solution where the power source and the AI infrastructure are designed as one coordinated platform rather than two separate projects competing against each other on timelines," Walker said.

While AI data centers are a major focus, Walker said NANO Nuclear continues to see opportunities across remote communities, mining, defense, industrial operations and critical infrastructure.

Still, the Super Micro partnership gives NANO a clearer opening into the AI infrastructure market.

"For us, the collaboration with Supermicro represents more than just a technology partnership," Walker said. 

"It's an opportunity to position NANO inside the broader AI infrastructure ecosystem early, before this market fully matures."

NNE Price Action: Nano Nuclear Energy shares were up 6.50% at $26.71 at the time of publication on Friday, according to Benzinga Pro data.

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Key Takeaways SMR says TVA-ENTRA1 talks could support up to 6 GW of nuclear capacity using its technology.NuScale holds NRC approvals for two SMR designs under Part 52, positioning it as deployable.ENTRA1 is named in a $550B U.S.-Japan framework. Korea also proposed $350B for nuclear/AI. For NuScale Power (SMR - Free Report) , the TVA-ENTRA1 opportunity is shaping up as the company’s most important commercialization catalyst. Discussions tied to the Tennessee Valley Authority (“TVA”) project continue to advance and could potentially unlock the next phase of growth for the small modular reactor (“SMR”) developer. TVA and ENTRA1 Energy are working toward a deployment program that could involve up to 6 gigawatts of nuclear capacity using NuScale technology. The company believes the initiative could become the largest nuclear deployment program in U.S. history.

Talks are progressing toward a definitive power purchase agreement (PPA). Once the PPA is finalized, the company expects activity to accelerate quickly through site-specific licensing work, pre-FEED activities, and eventually OEM contracts tied to NuScale Power Modules. These early-stage activities alone could begin contributing meaningful revenues even before full reactor deployment begins.

NuScale believes its regulatory readiness gives it an edge in securing these large-scale contracts. Unlike many advanced nuclear peers still pursuing earlier-stage licensing pathways, NuScale already holds U.S. Nuclear Regulatory Commission (“NRC”) approvals for two SMR designs under the Part 52 framework. This acts as a major differentiator because customers increasingly prioritize technologies that are commercially deployable rather than still experimental.

Financing also appears to be a critical piece of the TVA story. On the first-quarter earnings call, management pointed to potential support from both Japanese and Korean investment frameworks aimed at funding strategic U.S. industries, including nuclear power and AI infrastructure. ENTRA1 was named in the $550 billion U.S.-Japan investment framework, which could help support financing for the TVA project. South Korea has also proposed a $350 billion investment push into U.S. strategic industries, including nuclear energy, AI and semiconductors.

NuScale does face financing, execution and timeline risks. But the TVA opportunity is the company’s biggest commercial breakthrough yet. If successful, the project would validate years of regulatory work, supply-chain investment and commercialization efforts.

Oklo and NANO Nuclear Push Commercial Deployment PlansOklo Inc. (OKLO - Free Report) is also advancing commercialization efforts in the emerging advanced nuclear market. Last year, the company broke ground on its first Aurora powerhouse project at Idaho National Laboratory under the DOE’s Reactor Pilot Program and is targeting initial operations in late 2027 or early 2028. Oklo has also benefited from rising AI-driven power demand themes, with Meta expanding a planned Ohio deployment vision to 1.2 gigawatts under a power agreement structure designed to support early-stage development. In addition, Oklo has partnered with NVIDIA on nuclear fuel and infrastructure research initiatives tied to future AI data center energy needs.

NANO Nuclear Energy Inc. (NNE - Free Report) is also making regulatory progress in the advanced nuclear space. Last week, NRC formally accepted the company’s Construction Permit Application for its KRONOS micro modular reactor project at the University of Illinois Urbana-Champaign. NANO Nuclear believes KRONOS is the first commercially focused microreactor to reach this stage of the NRC review process. The review is expected to conclude in 2027, potentially allowing construction activities to begin in the second half of next year.

SMR's Price Performance, Valuation & EstimatesShares of NuScale Power have declined more than 60% over the past year, underperforming the industry.

Image Source: Zacks Investment Research

In terms of trailing 12-month price/book, NuScale Power shares are trading at 3.52X.

Image Source: Zacks Investment Research

See how bottom-line estimates for SMR have been revised over the past 90 days.

Image Source: Zacks Investment Research

NuScale Power currently carries a Zacks Rank #3 (Hold).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Acquisition adds more than 20 years of specialized nuclear transportation experience, accelerating NANO Nuclear’s fuel supply chain and reactor deployment capabilities.

NEW YORK, N.Y., May 26, 2026 (GLOBE NEWSWIRE) -- NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear” or “the Company”), a leading advanced nuclear micro modular reactor and technology company focused on developing clean energy solutions, today announced the acquisition of Secured Transportation Services LLC (STS), a specialized U.S. based, globally operating nuclear logistics, transportation and services company specializing in the safe, secure and compliant movement of radioactive and nuclear materials.

This acquisition represents a significant strategic milestone in NANO Nuclear’s evolution into a vertically integrated nuclear energy company by adding one of the most important and challenging elements of the nuclear fuel cycle: the capability to plan, coordinate, license, secure and execute nuclear materials transportation and related deployment activities.

With the addition of STS, NANO Nuclear is taking a decisive step toward becoming a leader in the next generation of nuclear energy infrastructure, with capabilities designed to support reactor deployment and the broader ecosystem required to enable commercialization at scale.

One of the most significant barriers to scaling advanced nuclear technologies is not the reactor itself, but the infrastructure required to support it, particularly fuel transportation. The transport of nuclear materials, particularly spent fuel, HALEU fuel and advanced reactor components, is one of the most highly regulated and operationally complex segments of the nuclear fuel cycle, with emerging capacity constraints expected as next-generation reactor deployments accelerate.

With STS part of the organization, NANO Nuclear is competitively well positioned to:

Control and coordinate critical nuclear fuel transportation logistics.Support deployment planning for microreactors and related advanced nuclear systems.Reduce reliance on third-party nuclear logistics providers for core transportation and deployment functions.Navigate complex regulatory, security and route-approval requirements.Develop repeatable deployment models for defense, data center, industrial, remote and international customers.Support a broader ecosystem of nuclear fuel-cycle services expected to be required by NANO Nuclear and other nuclear industry participants. Founded in 2005, STS brings more than two decades of specialized nuclear transportation experience and a strong track record of executing complex nuclear materials projects safely, securely and efficiently. STS personnel have completed projects in more than 40 countries, providing NANO Nuclear with operational experience in navigating various regulatory requirements, physical challenges and political environments. STS currently holds approvals for more than 90% of the active U.S. NRC approved spent fuel routes in the United States.

STS brings a team of highly experienced professionals with backgrounds spanning nuclear engineering, logistics, regulatory affairs, and operations - capabilities that are difficult to procure and essential to transporting fuel and deploying reactors at scale.

In addition, the acquisition of STS provides NANO Nuclear with revenue generating operations. For the twelve months ended December 31, 2025, STS generated audited revenues of approximately $7.1 million and net income of approximately $1.3 million, reflecting strong underlying profitability and operational efficiency. Equally as important, NANO Nuclear sees substantial opportunity for growth at STS in the coming years as demand for nuclear fuel transportation and logistics accelerates. STS is expected to benefit from NANO Nuclear’s relationships and exposure to several aspects of the nuclear fuel cycle, as well as NANO Nuclear’s strong financial position through prudent deployment of strategic growth capital.

Figure 1 - NANO Nuclear Acquires Secured Transportation Services Joining a Select Group of Revenue-Generating Microreactor Developers

The acquisition of STS directly supports NANO Nuclear’s broader strategy of building a fully vertically integrated business, spanning:

Reactor design and development.Fuel sourcing and processing (LEU/HALEU ecosystem).Fuel transportation and logistics.Reactor deployment and installation.Long-term operational support.
By integrating STS into its operations, NANO Nuclear gains the ability to coordinate the movement of nuclear fuel and reactor systems from origin to deployment site, a capability that is expected to become increasingly valuable as demand for microreactors accelerates globally.

“This acquisition is about more than logistics, it’s about unlocking the full potential of advanced nuclear,” said Jay Yu, Chairman and President of NANO Nuclear. “With STS, we now control a vital link in the nuclear value chain that very few companies possess globally. This capability will allow us to move faster, deploy quicker, and deliver our technologies anywhere in the world. We are building infrastructure for the next generation of nuclear energy, and this is a major step forward.”

Figure 2 - NANO Nuclear Establishes a Fully Integrated Nuclear Fuel Logistics and Deployment Platform.

“This is a transformational acquisition for NANO Nuclear,” said James Walker, Chief Executive Officer of NANO Nuclear. “STS brings the kind of deep, specialized expertise that is essential to making advanced nuclear a reality at scale. Transportation is one of the most overlooked, but most critical, pieces of the nuclear value chain. By bringing STS into the NANO Nuclear ecosystem, we are removing a major bottleneck and positioning ourselves as one of the few companies capable of delivering a truly end-to-end nuclear solution. This acquisition doesn’t just strengthen our logistics capabilities, it accelerates everything: our fuel strategy, our deployment timelines, and our ability to serve customers across North America and internationally.”

As the global energy system shifts toward clean, reliable, and decentralized power, microreactors are expected to play a pivotal role. However, their success depends on the ability to safely and efficiently move fuel and systems where they are needed.

"For more than two decades, STS has built its reputation by executing complex nuclear transportation projects safely, securely and reliably,” said Roy Boyd, Founder & President of STS, who will continue in this role post-acquisition. “Joining NANO Nuclear gives STS the resources and platform to expand our capabilities while maintaining the safety-first culture, regulatory discipline and customer focus that have defined our company since its founding. We are benefitting from the industry’s growth and believe we are well-prepared to meet expected demand. We believe our logistics, training, consulting, security coordination, engineering and project execution experience will be highly complementary to NANO Nuclear's broader advanced nuclear strategy and advance the overall mission to meet growing demand for nuclear energy."

STS was acquired by NANO Nuclear’s existing transportation subsidiary, Advanced Fuel Transportation Inc., for total consideration valued at up to $13 million. The total purchase price is comprised of $6 million paid in cash at closing, subject to closing adjustments, and $7 million in restricted shares of NANO Nuclear’s common stock paid in several installments, a portion of which is subject to certain contractual contingencies. Additional information will be provided in a Form 8-K to be filed by NANO Nuclear with the U.S. Securities and Exchange Commission.

About NANO Nuclear Energy Inc.

NANO Nuclear Energy Inc. (NASDAQ: NNE) is a North American advanced technology-driven nuclear energy company seeking to become a commercially focused, diversified, and vertically integrated company across five business lines: (i) cutting edge portable and other microreactor technologies, (ii) nuclear fuel supply chain, (iii) nuclear fuel transportation, (iv) nuclear applications for space and (v) nuclear industry consulting services. NANO Nuclear believes it is the first portable nuclear microreactor company to be listed publicly in the U.S.

Led by a world-class nuclear engineering team, NANO Nuclear’s reactor products in development include its lead project, the patented KRONOS MMR™ Energy System, a stationary high-temperature gas-cooled reactor that is in construction permit pre-application engagement with the U.S. Nuclear Regulatory Commission (NRC) in collaboration with University of Illinois Urbana-Champaign (U. of I.), ZEUS™, a solid core battery reactor, and the space focused, portable LOKI MMR™, each representing advanced developments in clean energy solutions that are modular, on-demand capable, advanced nuclear microreactors.

Advanced Fuel Transportation Inc. (AFT), a NANO Nuclear subsidiary, bolstered by the May 2026 acquisition of Secured Transportation Services (STS), is led by former executives from the largest transportation company in the world and provides nuclear engineering and materials transport services in the U.S. and globally. Through NANO Nuclear, AFT is the exclusive licensee of a patented high-capacity HALEU fuel transportation basket developed by three major U.S. national nuclear laboratories and funded by the Department of Energy.

HALEU Energy Fuel Inc. (HEF), a NANO Nuclear subsidiary, is focusing on the future development of a domestic source for a HALEU fuel fabrication pipeline for NANO Nuclear’s own microreactors as well as the broader advanced nuclear reactor industry.

NANO Nuclear Space Inc. (NNS), a NANO Nuclear subsidiary, is exploring the potential commercial applications of NANO Nuclear’s developing micro nuclear reactor technology in space. NNS is focusing on applications such as the LOKI MMR™ system and other power systems for extraterrestrial projects and human sustaining environments, and potentially propulsion technology for long haul space missions. NNS’ initial focus will be on cis-lunar applications, referring to uses in the space region extending from Earth to the area surrounding the Moon's surface.

For more corporate information please visit: https://NanoNuclearEnergy.com/

Cautionary Note Regarding Forward Looking Statements

This news release and statements of NANO Nuclear’s management in connection with this news release contain or may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements related to future events, which may impact our expected future business and financial performance, and often contain words such as “expects”, “anticipates”, “intends”, “explore,” “aim,” “plans”, “believes”, “potential”, “will”, “should”, “could”, “would,” “goal,” “aim,” or “may” or derivatives of these words and other words relating to the future. Specifically, forward-looking statements include those related to the anticipated benefits to NANO Nuclear of the acquisition of STS as well as NANO Nuclear’s development, construction, demonstration, regulatory licensing and commercial plans and strategies generally. These and other forward-looking statements are based on information available to us as of the date of this news release and represent management's current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve significant known and unknown risks, uncertainties and other factors, which may be beyond our control. For NANO Nuclear, particular risks and uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements include but are not limited to the following: (i) risks related to our U.S. Department of Energy (“DOE”), Canadian Nuclear Safety Commission (“CNSC”) or related state or non-U.S. nuclear licensing submissions, (ii) risks related to our vertical integration strategy (notably the integration of STS as contemplated herein) and the development of new or advanced technology and the acquisition of complimentary technology or businesses, including difficulties with design and testing, cost overruns, regulatory delays, integration issues and the development of competitive technology, (iii) our ability to obtain contracts and funding to be able to continue operations, (iv) risks related to uncertainty regarding our ability to technologically develop and commercially deploy a competitive advanced nuclear reactor or other technology in the timelines we anticipate, if ever, (v) risks related to the impact of U.S. and non-U.S. government regulation, policies and licensing requirements, including by the DOE, the U.S. Nuclear Regulatory Commission, including those associated with the recently enacted ADVANCE Act and the May 23, 2025 Executive Orders seeking to streamline nuclear regulation, as well as the CNSC, and (vi) similar risks and uncertainties associated with the operating an early stage business a highly regulated and rapidly evolving industry. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement, and NANO Nuclear therefore encourages investors to review other factors that may affect future results in its filings with the SEC, which are available for review at www.sec.gov and at https://ir.nanonuclearenergy.com/financial-information/sec-filings. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.

NANO Nuclear Energy Inc.

Energy is the vital force powering the economy. And as artificial intelligence (AI) and data centers create new demands for electricity, the energy sector is expected to grow immensely in the coming decades. For investors looking for exposure to this growing industry, the following two growth stocks are easily worth a $100 investment.

1. Bloom Energy Bloom Energy (BE 9.54%) is hands down one of the most momentous energy stocks on the market today. The clean energy supplier has grown by over 200% since the start of the year -- and a whopping 1,450% since last year.

In a nutshell, Bloom makes big box-shaped energy servers that allow businesses to generate electricity on-site instead of buying all of it from the grid. These mini power plants ensure the lights stay on even when the main power grid goes out. That makes them perfect for clients who need reliable 24/7 power, like hospitals and data centers.

Image source: Bloom Energy.

Indeed, one of Bloom's first "proof of concept" moments was in the early stages of the COVID-19 pandemic, when it deployed energy servers to a field hospital in Sacramento. The 400-kilowatt (KW) "microgrid" was installed in less than a week and provided power to the makeshift medical facility, itself a response to California's overcrowded hospitals.

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Since 2025, Bloom's marquee client list has grown stronger due to high demand from AI data centers. Bloom inked its biggest deal with Brookfield Asset Management at the end of 2025, a $5 million agreement to deploy Bloom's servers for the asset manager's AI factories. It recently partnered with AI infrastructure leader Nebius in a $2.6 billion deal. The company also has partnerships with Equinix, Oracle, and CoreWeave.

Revenue growth has exploded, with Bloom reporting 130% year-over-year first-quarter revenue growth. It now expects to generate between $3.4 billion and $3.8 billion, a substantial climb from last year's $2 billion and the $1.5 billion it made in 2024. While shares trade near $300, most brokers offer fractional shares, so your $100 is enough to gain exposure to Bloom Energy. 

2. Nano Nuclear Energy Nano Nuclear Energy (NNE 7.62%) is a nuclear energy start-up that designs microreactors. Imagine a miniature nuclear power plant that can be delivered on a truck. That, in essence, is what Nano Nuclear Energy is trying to build.

The company sits at the intersection of two powerful trends in energy: the need for round-the-clock, reliable electricity, and the push for zero-carbon energy.

Nano's ambitious goals, however, go beyond building reactors and selling power. It also wants to secure greater control over uranium supply to its reactors through strategic partnerships with companies like LIS Technologies. This matters because one of the biggest bottlenecks for advanced nuclear is high-assay low-enriched uranium (HALEU), a specialized fuel that many advanced reactors need. By securing its own uranium fuel, Nano doesn't have to compete with other companies, like Oklo, for the same scarce fuel.

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The company has about $569 million in cash and equivalents and an annual cash burn rate between $30 million and $39 million, which gives it several years to operate without needing a fresh cash injection. Nano also recently announced its first major agreement with a potential customer: a memorandum of understanding (MOU) with Super Micro Computer to explore using Nano's microreactors to power Super Micro's AI servers.

Execution risks for Nano abound. It's still pre-revenue, it lacks the licensing to deploy its microreactors commercially, and its vertical integration model means Nano has to solve several hard problems at once. There's no guarantee that Nano will survive the capital intensity of building and deploying reactors. Yet if it can succeed, investing $100 in this nuclear energy stock could grow handsomely over the long run.

Steven Porrello has positions in Bloom Energy, Nano Nuclear Energy, Nebius Group, and Oklo. The Motley Fool has positions in and recommends Bloom Energy, Brookfield Asset Management, Equinix, and Oracle. The Motley Fool has a disclosure policy.

Recent Japan HALEU transfer, Venezuela HEU removal support, and U.S. domestic HALEU delivery underscore STS’s mission-proven capabilities and progress towards NANO Nuclear’s broader vision of building a vertically integrated advanced nuclear platform.

NEW YORK, N.Y., May 28, 2026 (GLOBE NEWSWIRE) -- NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear” or “the Company”), a leading advanced nuclear micro modular reactor and technology company focused on developing clean energy solutions, today announced recent U.S. Department of Energy (“DOE”) and National Nuclear Security Administration (“NNSA”) aligned nuclear materials transport campaigns supported by its recently acquired subsidiary, Secured Transportation Services LLC (“STS”). STS is a specialized U.S. based, globally operating nuclear logistics, transportation and services company specializing in the safe, secure and compliant movement of radioactive and nuclear materials.

The completed missions include a record-setting international shipment of high-assay low-enriched uranium (HALEU) from Japan, support for the removal of highly enriched uranium (HEU) from Venezuela, and a second U.S. domestic HALEU delivery supporting advanced reactor fuel testing. Together, these campaigns demonstrate STS's position as a trusted and experienced nuclear logistics partner capable of supporting complex, highly regulated domestic and international missions for DOE, NNSA, and the broader advanced nuclear sector.

Historic Japan HALEU Transfer and Associated Spent Fuel Logistics

STS served as the DOE's prime logistics contractor for a major international campaign involving the transfer of approximately 1.7 metric tons of HALEU from Japan — announced by the NNSA as the largest single international uranium shipment in its history — along with the transport of six Type B spent nuclear fuel casks to the DOE's Savannah River Site in Aiken, South Carolina.

The campaign required coordinated international licensing, maritime transport, port operations, security planning, customs coordination, and final overland delivery to U.S. destination facilities. The HALEU is expected to support U.S. advanced reactor fuel needs through DOE's HALEU Availability Program.

Venezuela HEU Removal Support

STS also provided logistics planning and U.S. domestic transfer support for NNSA's accelerated removal of 13.5 kilograms of HEU from Venezuela's dormant RV-1 research reactor. The mission supported U.S. nonproliferation objectives and helped eliminate a long-standing proliferation risk in the Western Hemisphere. The material was also transported to the Savannah River Site, where it is expected to be processed and down blended for future use in America's advanced nuclear fuel supply chain.

Second Domestic HALEU Delivery

In addition to its international mission work, STS completed a separate U.S. domestic HALEU transport campaign supporting advanced reactor fuel testing programs. This delivery further demonstrates STS's ability to execute multiple high-priority nuclear logistics missions safely, securely, and efficiently.

Figure 1 - A shielded industrial/nuclear radioactive material transport cask, marked with Class 7 radioactive placards and UN 3328 labels.

STS Acquisition Adds Proven Nuclear Transportation and Logistics Capabilities, Enhances NANO’s Strategic Focus on Vertical Integration and Supports Future Reactor Deployments
 
NANO Nuclear's acquisition of STS adds proven nuclear transportation and logistics capabilities, including established experience in Type A and Type B radioactive materials transport, multi-modal campaign execution, regulatory compliance, international permitting, security coordination, and DOE and NNSA mission support.

With the addition of STS, NANO Nuclear believes it now has the in-house capabilities and infrastructure to support fuel-cycle logistics and future microreactor deployments both in the U.S. and around the world. As demand for HALEU, advanced reactor fuel qualification, spent fuel management and secure nuclear materials transport increases, NANO Nuclear expects STS’s mission-proven logistics capabilities to strengthen the Company’s broader platform across the nuclear fuel supply chain, fuel and spent fuel transportation, microreactor deployment planning and long-term nuclear services.

Figure 2 - Unloading a large cylindrical shielded cask for radioactive material transport or handling.

“STS’s execution of these recent DOE and NNSA-aligned missions demonstrates exactly why integrating STS into NANO Nuclear is so strategically significant. These campaigns showcase the advanced expertise, regulatory discipline, and operational capabilities that are now part of our microreactor and fuel supply chain platform,” said James Walker, Chief Executive Officer of NANO Nuclear Energy. “By bringing STS into the NANO Nuclear ecosystem, we have strengthened one of the most critical and capacity-constrained segments of the advanced nuclear supply chain: the safe, compliant movement of fuel and other nuclear materials. This capability not only supports our fuel-cycle strategy and microreactor deployment plans, but also positions us as one of the few companies developing the capability to deliver an integrated end-to-end advanced nuclear solution. The success of these missions reaffirms that STS is accelerating our ability to deploy next-generation nuclear systems globally.”

"STS has earned its reputation as a trusted and experienced partner for some of the nation's most important nuclear transportation missions, and we’ve completed many incredibly difficult nuclear shipments with a strong record of success and compliance,” said Roy Boyd, Founder & President of STS. “Our organization is pleased to participate in these important initiatives that support the mission of the DOE and NNSA. These programs are vital to the safety of the United States and to the path forward for advanced nuclear energy. STS has performed movements throughout the world in all types of variable regulatory spaces and mission constraints. With NANO Nuclear's support, we are well-positioned to expand that capability and help meet the logistics demands of the next generation of nuclear energy.”

“These latest STS-supported missions underscore the tremendous value of our acquisition and reinforce why the integration of a world-class nuclear logistics organization is a major step forward for NANO Nuclear. STS’s work on the largest ever single international uranium shipment in NNSA history, its support for the removal of HEU from Venezuela, and its domestic HALEU delivery highlight proven capabilities and expertise that very few organizations have globally,” said Jay Yu, Chairman and President of NANO Nuclear Energy. “With STS, we control a vital link in the nuclear value chain — one that is essential for scaling microreactor deployment, strengthening domestic fuel-cycle resilience, and enabling the advanced nuclear industry to grow. These accomplishments validate our strategy to build a fully vertically integrated nuclear energy company with the infrastructure, expertise, and execution ability needed to support national priorities and commercial customers alike. We are building the logistics backbone required for the next generation of nuclear energy, and these missions demonstrate the impact of that vision coming to life.”

About NANO Nuclear Energy Inc.

NANO Nuclear Energy Inc. (NASDAQ: NNE) is a North American advanced technology-driven nuclear energy company seeking to become a commercially focused, diversified, and vertically integrated company across five business lines: (i) cutting edge portable and other microreactor technologies, (ii) nuclear fuel supply chain, (iii) nuclear fuel transportation, (iv) nuclear applications for space and (v) nuclear industry consulting services. NANO Nuclear believes it is the first portable nuclear microreactor company to be listed publicly in the U.S.

Led by a world-class nuclear engineering team, NANO Nuclear’s reactor products in development include its lead project, the patented KRONOS MMR™ Energy System, a stationary high-temperature gas-cooled reactor that is in construction permit pre-application engagement with the U.S. Nuclear Regulatory Commission (NRC) in collaboration with University of Illinois Urbana-Champaign (U. of I.), ZEUS™, a solid core battery reactor, and the space focused, portable LOKI MMR™, each representing advanced developments in clean energy solutions that are modular, on-demand capable, advanced nuclear microreactors.

Advanced Fuel Transportation Inc. (AFT), a NANO Nuclear subsidiary, bolstered by the May 2026 acquisition of Secured Transportation Services (STS), is led by former executives from the largest transportation company in the world and provides nuclear engineering and materials transport services in the U.S. and globally. Through NANO Nuclear, AFT is the exclusive licensee of a patented high-capacity HALEU fuel transportation basket developed by three major U.S. national nuclear laboratories and funded by the Department of Energy.

HALEU Energy Fuel Inc. (HEF), a NANO Nuclear subsidiary, is focusing on the future development of a domestic source for a HALEU fuel fabrication pipeline for NANO Nuclear’s own microreactors as well as the broader advanced nuclear reactor industry.

NANO Nuclear Space Inc. (NNS), a NANO Nuclear subsidiary, is exploring the potential commercial applications of NANO Nuclear’s developing micro nuclear reactor technology in space. NNS is focusing on applications such as the LOKI MMR™ system and other power systems for extraterrestrial projects and human sustaining environments, and potentially propulsion technology for long haul space missions. NNS’ initial focus will be on cis-lunar applications, referring to uses in the space region extending from Earth to the area surrounding the Moon's surface.

For more corporate information please visit: https://NanoNuclearEnergy.com/

Cautionary Note Regarding Forward Looking Statements

This news release and statements of NANO Nuclear’s management in connection with this news release contain or may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements related to future events, which may impact our expected future business and financial performance, and often contain words such as “expects”, “anticipates”, “intends”, “explore,” “aim,” “plans”, “believes”, “potential”, “will”, “should”, “could”, “would,” “goal,” “aim,” “develop,” “may” or derivatives of these words and other words relating to the future. Specifically, forward-looking statements include those related to the anticipated benefits to NANO Nuclear of the acquisition of STS as well as NANO Nuclear’s development, construction, demonstration, regulatory licensing and commercial plans and strategies generally. These and other forward-looking statements are based on information available to us as of the date of this news release and represent management's current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve significant known and unknown risks, uncertainties and other factors, which may be beyond our control. For NANO Nuclear, particular risks and uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements include but are not limited to the following: (i) risks related to our U.S. Department of Energy (“DOE”), Canadian Nuclear Safety Commission (“CNSC”) or related state or non-U.S. nuclear licensing submissions, (ii) risks related to our vertical integration strategy (notably the integration of STS as contemplated herein) and the development of new or advanced technology and the acquisition of complimentary technology or businesses, including difficulties with design and testing, cost overruns, regulatory delays, integration issues and the development of competitive technology, (iii) our ability to obtain contracts and funding to be able to continue operations, (iv) risks related to uncertainty regarding our ability to technologically develop and commercially deploy a competitive advanced nuclear reactor or other technology in the timelines we anticipate, if ever, (v) risks related to the impact of U.S. and non-U.S. government regulation, policies and licensing requirements, including by the DOE, the U.S. Nuclear Regulatory Commission, including those associated with the recently enacted ADVANCE Act and the May 23, 2025 Executive Orders seeking to streamline nuclear regulation, as well as the CNSC, and (vi) similar risks and uncertainties associated with the operating an early stage business a highly regulated and rapidly evolving industry. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement, and NANO Nuclear therefore encourages investors to review other factors that may affect future results in its filings with the SEC, which are available for review at www.sec.gov and at https://ir.nanonuclearenergy.com/financial-information/sec-filings. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.

NANO Nuclear Energy Inc.

For years, governments and industry have discussed the energy trilemma, which is the need for secure, affordable, and low-carbon energy. Following the Paris Climate Accord in 2015, significant emphasis was placed on the low-carbon component as countries and corporations set net-zero emission targets.

Oklo (OKLO 4.36%) and Nano Nuclear Energy (NNE 7.62%) are early-stage nuclear companies pursuing a similar ambition: How to shrink the nuclear power plant from a sprawling concrete behemoth into something that can fit much closer to the customers who actually need the power.

In this regard, Oklo has its Aurora powerhouse design, while Nano has several designs with epic, mythopoeic names (Kronos, Zeus, and Loki). Some of Nano's reactors are designed to fit on a semi-truck; Oklo's early renderings make its powerhouse look as peaceful as a spa in a mountain cabin.

Image source: Oklo.

Both of these nuclear energy stocks are volatile, speculative, and risky. However, between the two, I think Oklo will be the better pick for most investors. Here's why.

Oklo has the bigger customer pipeline Ever since going public in May 2024, Oklo's name has never been far from the question, "How will artificial intelligence get enough electricity?" While it's not the only novel energy company muscling into the AI space -- Bloom Energy is also there -- its factory-styled modular design has captured the imaginations of tech CEOs whose clean power choices aren't currently wide-ranging.

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Sam Altman, CEO of OpenAI, was an early supporter of Oklo (he served as its first chairman until last April), but his support has been in the background lately. Oklo has now established partnerships with tech giants like Meta Platforms, data center developers like Switch and Equinix, and energy firms like Liberty Energy. Its potential customer pipeline exceeds 14 gigawatts (GW).

Nano has its partnerships too, including a memorandum of understanding to couple its microreactors with the AI infrastructure of Super Micro Computer. Certainly, more collaborative partners could join Supermicro, but Oklo's marquee list is currently longer and could generate more revenue long term.

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Future revenue estimates are also important to consider, since neither company is currently making meaningful sales. In this regard, Nano has gotten a small revenue foothold with its recent acquisition of Secured Transportation Services, which generated $7 million in annual revenue last year. Oklo has also made a meaningful acquisition -- Atomic Alchemy -- that could help it tap into a multibillion-dollar medical isotope market.

Data by YCharts

Both companies have strong liquidity. Oklo reported about $2.5 billion in cash and marketable securities on its most recent balance sheet, while Nano reported about $565 million. While both companies are burning cash and reporting losses, their balance sheets should support operations for several years to come.

Both companies have an enormous market opportunity ahead. But if small advanced reactors really do populate the future landscape of energy, Oklo's early support and fortified balance sheet make it better positioned for stronger growth over the long term.

Steven Porrello has positions in Bloom Energy, Nano Nuclear Energy, and Oklo. The Motley Fool has positions in and recommends Bloom Energy, Equinix, and Meta Platforms. The Motley Fool has a disclosure policy.

Issued on behalf of General Fusion Inc.

, /PRNewswire/ -- Equity-Insider.com News Commentary — Fusion has been "thirty years away" for half a century — but the calculus is changing fast. The International Energy Agency projects global electricity demand will grow roughly 40% to 50% by 2035, driven in part by artificial-intelligence data centers, electrification, and industrial growth[1]. That surge has pulled next-generation energy toward the public markets and opened the door to pre-revenue developers; General Fusion's own move is a roughly US$1 billion transaction that is expected to make it, by the company's account, the first publicly traded pure-play fusion company[2]. That collision of demand and capital is pulling General Fusion Inc., NuScale Power Corporation (NYSE: SMR), Oklo Inc. (NYSE: OKLO), Centrus Energy Corp. (NYSE: LEU), and NANO Nuclear Energy Inc. (NASDAQ: NNE) into the spotlight.

The transaction terms are concrete. The business combination implies a pro-forma equity value of approximately US$1 billion, inclusive of a committed and oversubscribed private placement (PIPE) of about US$107.7 million from institutional investors and roughly US$230 million of Spring Valley's trust capital, assuming no redemptions[2]. General Fusion has raised more than US$400 million to date from institutional investors, strategics, venture-capital firms, industry partners, and government grants, and intends to use the proceeds to advance its Lawson Machine 26 (LM26) demonstration program and steps toward a first commercial plant[2].

General Fusion announced on June 1, 2026 that its leadership team will participate in a series of major investor and industry conferences throughout June — a coming-out tour in advance of its anticipated listing on the Nasdaq. The Vancouver-based company, led by CEO Greg Twinney, is preparing to go public through a business combination with Spring Valley Acquisition Corp. III (NASDAQ: SVAC), a transaction targeted to close in mid-2026, after which the combined company is expected to trade under the ticker "GFUZ."

Founded in 2002, General Fusion is one of the oldest privately funded fusion ventures in the world, backed by a global syndicate of energy venture-capital firms, industry leaders, and technology pioneers. Its approach, called Magnetized Target Fusion ("MTF"), mechanically compresses a magnetized plasma using a liquid-lithium liner — deliberately avoiding the enormous superconducting magnets of tokamaks and the high-powered lasers of inertial-confinement designs. The pitch is practicality: machines built from existing materials that could produce cost-effective energy, rather than experiments that never leave the national lab.

The June schedule is dense. General Fusion plans to participate in Stifel's Ninth Annual Boston Cross Sector 1x1 Conference on June 2–3 in Boston; to attend the 16th Annual ROTH London Conference in London from June 16–18; and — the marquee appearance — to put Chief Strategy Officer Megan Wilson on stage at FusionX:Americas in Boston, June 9–11. Wilson is slated for a fireside chat with George Gianarikas, Managing Director at Canaccord Genuity, on June 9 at 5:00 p.m. ET, in a discussion centered on the evolving role of public markets in advancing fusion energy.

"Fundamentally, our plan has been underpinned by our focus on practical commercial fusion power, and our philosophy that we need to methodically buy down risk by demonstrating real results. That has not changed," Chief Strategy Officer Megan Wilson said, adding "What this transaction gives us now is that we are in growth mode." [5] The substance behind that push is General Fusion's Lawson Machine 26 (LM26), which the company announced in early 2025 as the world's first MTF demonstration machine built at a commercially relevant scale — compressing plasma with a lithium liner at 50% of commercial-scale diameter, built in under two years. LM26's milestones read like a roadmap: heat plasma to 1 keV (10 million degrees Celsius), then to 10 keV (100 million degrees Celsius), and ultimately to reach the Lawson criterion, the threshold conditions for net fusion energy in the plasma.

Crucially, General Fusion's path to market runs through a SPAC sponsor with a specific track record in this lane. Spring Valley has raised roughly $920 million across four IPOs, and its earlier vehicles took NuScale Power Corporation and Eagle Nuclear Energy Corp. public — the same sponsor network now backing a fusion debut and the team that brought Renewable Energy Group public at $10 and sold to Chevron for $61.50 in a ~$3 billion sale. The company has not built a commercial reactor that produces net energy, and it has publicly targeted a first-of-a-kind plant for the mid-2030s; the conference circuit marks its transition from a private research company to a public one.

CONTINUED… Read this and more on General Fusion at: GeneralFusion.com

Other industry developments and happenings in the market include:

NuScale Power Corporation (NYSE: SMR) reported first-quarter 2026 results highlighted by $1.0 billion in liquidity and continued momentum on the largest nuclear deployment program in U.S. history — up to 6 gigawatts of NuScale small modular reactor capacity being planned by its strategic partner ENTRA1 Energy with the Tennessee Valley Authority. Shareholders of Romania's Nuclearelectrica also approved advancing the next phase of the RoPower project, a six-module plant at a former coal site in Doiceşti.

"We ended the first quarter with $1 billion in liquidity, expanded our supply chain partnership with Framatome and saw continued progress on the TVA program," said John Hopkins, President and CEO of NuScale Power. "We are building the infrastructure that this pivotal moment requires." As the only small modular reactor developer with a U.S. Nuclear Regulatory Commission-approved design, NuScale carries a first-mover regulatory advantage — and, like General Fusion, has partnered with Spring Valley to reach the public markets.

Oklo Inc. (NYSE: OKLO), the fast-fission developer co-founded and led by Jacob DeWitte, continued de-risking its Aurora powerhouse after the NRC approved the project's Principal Design Criteria, with commercial deployment at Idaho National Laboratory targeted for late 2027. The company was also among five selected by the U.S. for advanced talks on using surplus government plutonium as reactor fuel.

DeWitte described that material as a potential "bridge fuel" that could help "bring more reactors online sooner." With CEO Jacob DeWitte appointed to the President's Council of Advisors on Science and Technology, Oklo has become a bellwether for how much investors will pay for a compelling pre-commercial energy story — the high-momentum end of the advanced-nuclear trade that General Fusion is now planning to enter.

Centrus Energy Corp. (NYSE: LEU) reported first-quarter 2026 net income of $10.0 million and raised its full-year revenue guidance, underpinned by a commercial low-enriched-uranium backlog it has pegged at roughly $2.3 billion, a federally backed $900 million high-assay low-enriched uranium (HALEU) enrichment award, and a multi-billion-dollar enrichment-plant expansion in Piketon, Ohio.

"The first quarter was marked by numerous wins and great operational progress as we accelerated our drive to restore America's ability to enrich uranium at scale," said Amir Vexler, President and CEO of Centrus. Unlike the pre-revenue developers, Centrus already generates real cash flow — a reminder that parts of the nuclear-renaissance trade are further along the commercialization curve than others.

NANO Nuclear Energy Inc. (NASDAQ: NNE) reported second-quarter fiscal 2026 results alongside the formal submission of a Construction Permit Application to the U.S. NRC for its first full-scale KRONOS MMR microreactor prototype at the University of Illinois, supported by a working-capital position of roughly $566 million.

"The formal submission of the Construction Permit Application to the U.S. NRC for our first full-scale KRONOS MMR system prototype… marked a major milestone as the program advances from engineering into construction readiness," said James Walker, CEO of NANO Nuclear. Like General Fusion, NANO is a pre-commercial company whose value rests on technology that has yet to reach the market — the closest peer in risk profile, if not in physics.

FURTHER READING: General Fusion — Investor Center

TRACK THE TREND WITH EAGLE EYE:

To help investors track sentiment and market-forum activity around developing stories like this one, MIQ offers Eagle Eye, a free investor-signal tool that scans market-forum discussion for emerging trends. It is available to everyone at eagleye.usanewsgroup.com as a research aid — not investment advice — to help investors make more informed decisions.

CONTACT:

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DISCLAIMER:

This article is a paid digital media distribution and is for informational purposes only. It is not financial, investment, or trading advice, and is neither an offer nor a recommendation to buy or sell any security. Readers should conduct their own due diligence and consult a licensed financial advisor before making investment decisions.

This article is distributed by Equity Insider on behalf of Market IQ Media Group, Inc. ("MIQ"). MIQ has been paid a fee for General Fusion Inc. ("General Fusion") advertising and digital media distribution by Creative Direct Marketing Group ("CDMG"). MIQ does not own shares of General Fusion Inc. or Spring Valley Acquisition Corp. III ("SVAC") but reserves the right to buy and sell shares of the company at any time. Eagle Eye is a free investor-signal research tool owned and operated by MIQ; references to it in this article are promotion of an MIQ product, not independent endorsement, and Eagle Eye does not provide investment advice.

Certain statements in this article constitute "forward-looking information," including statements regarding the proposed business combination with Spring Valley Acquisition Corp. III and its timing, approvals, and financing; the future Nasdaq listing of the combined company; the General Fusion MTF technology and the LM26 program and its milestones; commercialization timelines; the conferences described; and the markets for fusion and advanced-nuclear energy. Such statements are subject to risks and uncertainties — including the risk the business combination may not close on the expected timeline or at all, failure to satisfy closing conditions or obtain approvals, financing and dilution risk, the early-stage and unproven nature of the technology, the risk that net fusion energy is not achieved, regulatory risk, competition, and other factors — that could cause actual results to differ materially. Readers are advised not to place undue reliance on forward-looking information. Comparable companies referenced herein are independent, publicly traded third parties included for industry context; certain of them were identified as peers in General Fusion's own public deal materials. Their inclusion is not a recommendation, and MIQ has no business relationship with them.

Cautionary Note Regarding Forward-Looking Statements

Certain statements included in this document are not historical facts but are forward-looking statements. All statements other than statements of historical facts contained in this document are forward-looking statements. Any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are also forward-looking statements. In some cases, you can identify forward-looking statements by words such as "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "believe," "seek," "strategy," "future," "opportunity," "may," "target," "should," "will," "would," "will be," "will continue," "will likely result," "preliminary," or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements include, without limitation, SVAC's, General Fusion's, or their respective management teams' expectations concerning General Fusion's plan to go public through a business combination with SVAC (the transactions contemplated by the business combination, collectively, the "Proposed Business Combination") and expected benefits or timing thereof; the outlook for General Fusion's business, including its ability to commercialize MTF or any other fusion technology on its expected timeline or at all; statements regarding the current and expected results of General Fusion's LM26 program; the ability to execute General Fusion's strategies, including on any expected timeline or anticipated cost basis; projected and estimated financial performance; anticipated industry trends; future capital expenditures; government regulation of fusion energy; and environmental risks; as well as any information concerning possible or assumed future results of operations of General Fusion. The forward-looking statements are based on the current expectations of the respective management teams of SVAC and General Fusion, as applicable, and are inherently subject to uncertainties and changes in circumstance and their potential effects. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, (i) the risk that the Proposed Business Combination may not be completed in a timely manner or at all, which may adversely affect the price of SVAC's securities; (ii) the failure to satisfy the conditions to the consummation of the Proposed Business Combination, including the adoption of the business combination agreement, dated January 21, 2026, among General Fusion, SVAC, and the other party thereto (the "Business Combination Agreement") by the shareholders of SVAC and the receipt of regulatory approvals; (iii) market risks; (iv) the occurrence of any event, change or other circumstance that could give rise to the termination of the Business Combination Agreement; (v) the effect of the announcement or pendency of the Proposed Business Combination on General Fusion's business relationships, performance, and business generally; (vi) risks that the Proposed Business Combination disrupts current plans of General Fusion and potential difficulties in its employee retention as a result of the Proposed Business Combination; (vii) the outcome of any legal proceedings that may be instituted against General Fusion or SVAC related to the Business Combination Agreement or the Proposed Business Combination; (viii) failure to realize the anticipated benefits of the Proposed Business Combination; (ix) the inability to maintain the listing of SVAC's securities or to meet listing requirements and maintain the listing of the combined company's securities on Nasdaq; (x) the risk that the Proposed Business Combination may not be completed by SVAC's business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by SVAC; (xi) the risk that the price of the combined company's securities may be volatile due to a variety of factors, including changes in laws, regulations, technologies, natural disasters, national security tensions, and macro-economic and social environments affecting its business; (xii) laws and regulations governing General Fusion's research and development activities, and changes in such laws and regulations; (xiii) any failure to commercialize MTF on the expected timeline or at all, including any failure to achieve the objectives of the LM26 program; (xiv) environmental regulations and legislation; (xv) the effects of climate change, extreme weather events, water scarcity, and seismic events, and the effectiveness of strategies to deal with these issues; (xvi) fluctuations in currency markets; (xvii) General Fusion's ability to complete and successfully integrate any future acquisitions; (xviii) increased competition in the fusion industry; (xix) limited supply of materials and supply chain disruptions; and (xx) the risk that the proposed private placement of convertible preferred shares and warrants by General Fusion (the "PIPE Financing") may not be completed, or that other capital needed by the combined company may not be raised on favorable terms, or at all, including as a result of the restrictions agreed to in connection with the PIPE Financing. The foregoing list is not exhaustive, and there may be additional risks that neither SVAC nor General Fusion presently know or that SVAC and General Fusion currently believe are immaterial. You should carefully consider the foregoing factors, any other factors discussed in this document and the other risks and uncertainties described in the "Risk Factors" section of SVAC's final prospectus for its initial public offering, which was filed with the SEC on September 4, 2025 (the "Final Prospectus"); the risks described in the joint registration statement on Form F-4 filed by General Fusion and SVAC, as amended (the "Registration Statement"), which includes a preliminary proxy statement/prospectus, or to be described in any amendment or supplement thereto; and those discussed and identified in filings made with the SEC by SVAC from time to time. General Fusion and SVAC caution you against placing undue reliance on forward-looking statements, which reflect current beliefs and are based on information currently available as of the date a forward-looking statement is made. Forward-looking statements set forth in this document speak only as of the date of this document. Neither General Fusion nor SVAC undertakes any obligation to revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs. In the event that any forward-looking statement is updated, no inference should be made that General Fusion or SVAC will make additional updates with respect to that statement, related matters, or any other forward-looking statements. Any corrections or revisions and other important assumptions and factors that could cause actual results to differ materially from forward-looking statements, including discussions of significant risk factors, may appear, up to the consummation of the Proposed Business Combination, in SVAC's public filings with the SEC, which are or will be (as applicable) accessible at www.sec.gov, and which you are advised to review carefully.

Important Information for Investors and Shareholders

In connection with the Proposed Business Combination, General Fusion and SVAC filed with the SEC the Registration Statement, which includes a preliminary prospectus with respect to SVAC's securities to be issued in connection with the Proposed Business Combination and a preliminary proxy statement in connection with SVAC's solicitation of proxies for the vote by SVAC's shareholders with respect to the Proposed Business Combination and other matters described in the Registration Statement (the "Proxy Statement"). After the SEC declares the Registration Statement effective, SVAC plans to file the definitive Proxy Statement with the SEC and to mail copies to SVAC's shareholders as of a record date to be established for voting on the Proposed Business Combination. This document does not contain all the information that should be considered concerning the Proposed Business Combination and is not a substitute for the Registration Statement, Proxy Statement or for any other document that SVAC has filed or may file with the SEC. Before making any investment or voting decision, investors and security holders of SVAC and General Fusion are urged to read the Registration Statement and the Proxy Statement, and any amendments or supplements thereto, as well as all other relevant materials filed or that will be filed with the SEC in connection with the Proposed Business Combination as they become available because they will contain important information about General Fusion, SVAC and the Proposed Business Combination. Investors and security holders are able to obtain free copies of the Registration Statement, the Proxy Statement and all other relevant documents filed or that will be filed with the SEC by SVAC through the website maintained by the SEC at www.sec.gov. In addition, the documents filed by SVAC may be obtained free of charge from SVAC's website at https://sv-ac.com or by directing a request to Spring Valley Acquisition Corp. III, Attn: Corporate Secretary, 2100 McKinney Avenue, Suite 1675, Dallas, Texas 75201. The information contained on, or that may be accessed through, the websites referenced in this document is not incorporated by reference into, and is not a part of, this document.

Participants in the Solicitation

General Fusion, SVAC and their respective directors, executive officers and other members of management and employees may, under the rules of the SEC, be deemed to be participants in the solicitations of proxies from SVAC's shareholders in connection with the Proposed Business Combination. For more information about the names, affiliations and interests of SVAC's directors and executive officers, please refer to the Final Prospectus and the Registration Statement, Proxy Statement and other relevant materials filed or to be filed with the SEC in connection with the Proposed Business Combination when they become available. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, which may, in some cases, be different than those of SVAC's shareholders generally, will be included in the Registration Statement and the Proxy Statement, when they become available. Shareholders, potential investors and other interested persons should read the Registration Statement and the Proxy Statement carefully, when they become available, before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above.

No Offer or Solicitation

This document shall not constitute a "solicitation" as defined in Section 14 of the Securities Exchange Act of 1934, as amended. This document shall not constitute an offer to sell or exchange, the solicitation of an offer to buy or a recommendation to purchase, any securities, or a solicitation of any vote, consent or approval, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, solicitation or sale may be unlawful under the laws of such jurisdiction. No offering of securities in the Proposed Business Combination shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended, or an exemption therefrom.

SOURCES:
https://www.iea.org/reports/world-energy-outlook-2025
https://generalfusion.com/post/general-fusion-business-combination-announcement/
https://generalfusion.com/post/general-fusion-to-participate-in-june-investor-and-industry-conferences/
https://www.sec.gov/Archives/edgar/data/2074850/000110465926024738/tm268233d1_425.htm

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Around two and a half years ago, at COP28, 20 countries committed to tripling their nuclear energy capacity by the year 2050. In recent years, the U.S. has been taking steps to fast-track licensing and accelerate the deployment of advanced nuclear technologies, such as microreactors and small modular reactors (SMRs). Hyperscalers are intrigued by the technology, which could address the growing energy demands of modern data centers.

One company developing microreactor technology is Nano Nuclear Energy (NNE 7.62%). It recently became the first commercial developer to secure formal acceptance from the Nuclear Regulatory Commission (NRC) for a microreactor construction permit.

With nuclear energy on the rise, Nano Nuclear could be a massive winner for long-term growth investors. But there's one big thing you should be aware of before buying the stock right now.

Image source: Getty Images.

The future of nuclear energy is coming Nano Nuclear Energy develops advanced, solid-core, factory-fabricated microreactors that are highly portable, enabling them to deliver reliable, carbon-free energy to remote locations, military bases, industrial facilities, and data centers. Its KRONOS microreactor design serves as stationary power for high-capacity industrial applications, while its ZEUS microreactor is a highly portable, fully sealed system for remote operations.

What makes Nano's microreactors appealing is that they use tri-structural isotropic (TRISO) fuel and helium coolant, meaning the reactors require no water for cooling and can shut down safely without human intervention or external power.

According to projections from the International Atomic Energy Agency (IAEA), global nuclear energy capacity could more than double by 2050, with SMRs playing a key role in the expansion. Microreactors, a subset of SMRs, could play a key role in helping hyperscalers meet their growing power needs by providing independent baseload power directly on-site.

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Investors must be realistic about Nano Nuclear's timeline Nano Nuclear recently secured the U.S. Nuclear Regulatory Commission's (NRC) formal acceptance of its construction permit application for its project at the University of Illinois. That said, it will be a while before one of Nano Nuclear's microreactors becomes operational. That's because the NRC still has to do a detailed evaluation of the KRONOS reactor's safety, engineering, and environmental footprint. Nano Nuclear expects this review to be done by 2027.

Once the NRC's review is complete and approved, Nano Nuclear expects to break ground on its full-scale KRONOS prototype in late 2027. From there, it will take a couple of years to build the prototype, which isn't expected to come online until 2030 at the soonest.

Nano Nuclear's promising technology could usher in a new era of energy generation, making nuclear energy portable, scalable, and accessible for off-grid use. That said, the review and approval process can be long and drawn-out, and any delays could push back what is already a multi-year timeline. If you buy today, you'll need to be patient as the process plays out. As for myself, I'll take a wait-and-see approach before buying the upstart nuclear energy stock.