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Get filing alertsX-energy reports Q2 revenues up 154% YoY, secures HALEU supply agreements
Filed August 13, 2026 · Period ending August 13, 2026 · ~1 min read
Key Changes
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Q2 2026 revenues and grant income totaled $54.6M, up 154% from $21.5M in Q2 2025, driven by expanded activity under the DOE's Advanced Reactor Demonstration Program. Six-month revenues reached $98.0M, up 132% YoY.
Exhibit 99.1 view on EDGAR → -
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Entered long-term HALEU enrichment supply agreements with Centrus Energy and General Matter to support deployment of Xe-100 small modular reactors. Management characterized the agreements as meaningfully de-risking reactor deployment.
Exhibit 99.1 view on EDGAR → -
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Completed April 2026 IPO raising ~$1.1B in net proceeds. Total liquidity as of June 30, 2026 was $1.9B (cash, short-term and long-term investments), with no debt outstanding.
Exhibit 99.1 view on EDGAR → -
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Announced agreement with SGL Carbon to double European NBG-18 graphite production capacity by 2030. X-energy will invest up to $8M in milestone-based payments to support facility upgrades enabling production for up to 8 new Xe-100 reactors annually.
Exhibit 99.1 view on EDGAR → -
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Received DOE approval to extend ARDP budget period through March 2027, continuing 50/50 cost-share work on the Dow Seadrift plant and TX-1 fuel fabrication facility.
Exhibit 99.1 view on EDGAR →
Summary
X-energy reported strong Q2 2026 results with revenues and grant income of $54.6 million, up 154% year-over-year, driven primarily by expanded activity under the DOE's Advanced Reactor Demonstration Program. The company completed its IPO in April 2026, raising approximately $1.1 billion in net proceeds and ending the quarter with $1.9 billion in total liquidity and no debt.
The revenue growth reflects accelerated project execution as X-energy advances development of its Xe-100 small modular reactor design. The company announced two strategic supply agreements that address critical fuel cycle and materials constraints.
Long-term HALEU enrichment agreements with Centrus Energy and General Matter secure access to high-assay low-enriched uranium enrichment services for the Xe-100 commercial pipeline. Separately, X-energy will invest up to $8 million to double SGL Carbon's European production capacity for NBG-18 nuclear-grade graphite, a specialized material central to the Xe-100 design. The DOE also approved an extension of X-energy's ARDP budget period through March 2027, continuing cost-shared work on the Dow Seadrift plant and TX-1 fuel fabrication facility. For a pre-revenue advanced reactor developer, the combination of strong IPO proceeds, accelerating DOE-funded activity, and secured supply chain agreements represents meaningful progress toward commercial deployment.
Section-by-Section Diff
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
Total revenues and grant income in the three months ended June 30, 2026 were $54.6 million, including $50.1 million of services revenue and $4.5 million of grant income. Total revenues and grant income in the six months ended June 30, 2026 were $98.0 million, including $90.0 million of services revenue and $8.0 million of grant income. Total revenues
and grant income increased 154% and 132% for the three and six months ended June 30, 2026, respectively, compared to the comparable prior-year period.
X-energy reported Q2 2026 revenues and grant income of $54.6 million, up 154% from $21.5 million in Q2 2025, driven primarily by increased activity under the DOE's Advanced Reactor Demonstration Program (ARDP) Agreement. For the six months ended June 30, 2026, revenues and grant income totaled $98.0 million, up 132% from $42.3 million in the prior-year period. The growth reflects expanded project execution activities as the company advances development of its Xe-100 reactor design, with higher spending on materials, subcontractor services, and payroll.
Added in current filing · view on EDGAR →
Announced agreement to double SGL Carbon’s European production capacity for medium-grain isotropic graphite (“NBG-18”), a specialized material central to X-energy’s Xe-100 high-temperature gas-cooled reactor (“HTGR”). Under the agreement, among other terms, X-energy will invest up to $8 million in milestone-based payments to support new molding facilities and furnace upgrades at SGL’s facility in Chedde, France. Full execution would double European manufacturing capacity for NBG-18 by 2030, enabling the facility to produce graphite billets for up to 8 new Xe-100 reactors per year.
X-energy announced an agreement with SGL Carbon to double European production capacity for NBG-18, a specialized nuclear-grade graphite material central to the Xe-100 reactor design. X-energy will invest up to $8 million in milestone-based payments to support new molding facilities and furnace upgrades at SGL's facility in Chedde, France. When fully executed, the expansion would double European manufacturing capacity for NBG-18 by 2030, enabling production of graphite billets for up to 8 new Xe-100 reactors per year.
Added in current filing · view on EDGAR →
On April 24, 2026, the Company began trading on Nasdaq under the ticker “XE” and on April 27, 2026, the Company closed its IPO, raising approximately $1.1 billion in net proceeds. ... Cash and cash equivalents totaled $1.1 billion as of June 30, 2026. Short-term investments totaled $489.8 million and Long-term investments totaled $264.6 million, for total liquidity of $1,899.8 million as of June 30, 2026. The Company had no debt outstanding as of June 30, 2026 and December 31, 2025.
X-energy completed its initial public offering in April 2026, raising approximately $1.1 billion in net proceeds. As of June 30, 2026, the company reported total liquidity of $1.9 billion, consisting of $1.1 billion in cash and cash equivalents, $489.8 million in short-term investments, and $264.6 million in long-term investments. The company had no debt outstanding as of June 30, 2026.
Added in current filing · view on EDGAR →
Received Continuation Application Approval from the DOE: X-energy has received formal approval of its ARDP continuation application for a budget period extension through March 2027. The ARDP provides X-energy with a 50/50 cost share to continue work toward design, licensing, commercialization, and construction of its first-of-a-kind commercial advanced nuclear plant in collaboration with Dow in Seadrift, Texas, and TX-1, its first commercial TRISO-X fuel fabrication facility.
X-energy received formal approval from the U.S. Department of Energy to extend its Advanced Reactor Demonstration Program (ARDP) budget period through March 2027. The ARDP provides a 50/50 cost share for X-energy to continue work toward design, licensing, commercialization, and construction of its first commercial advanced nuclear plant in collaboration with Dow in Seadrift, Texas, and its first commercial TRISO-X fuel fabrication facility (TX-1).
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 14, 2026 · How we verify