Income statement, balance sheet and cash flow statement for the last 4 fiscal years, taken from the XBRL data Oklo Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2022
FY2023
FY2024
FY2025
Research and development
9.76
26.7
58.9
General and administrative
8.87
26.1
80.4
Operating expenses
18.6
52.8
139
Operating income
-1.81
-18.6
-52.8
-139
Interest income
7.28
22.2
7.73
29.1
Other non-operating income
7.21
-13.5
-20.1
29.1
Pre-tax income
5.4
-32.2
-72.9
-110
Income tax
1.47
0
0.68
-4.53
Net income
3.93
-32.2
-73.6
-106
EBITDA
-18.6
-52.5
-139
EPS, basic
-0.47
-0.74
-0.72
EPS, diluted
-0.47
-0.74
-0.72
Shares, basic (weighted)
68.9
98.9
146
Shares, diluted (weighted)
68.9
98.9
146
Balance sheet
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
3.58
9.87
97.1
788
Receivables
0
Other current assets
0.42
4.33
4.13
25.8
Total current assets
4
14.2
232
1,254
Property, plant and equipment
0.58
1.2
42.3
Lease right-of-use assets
0.08
0.98
1.38
Goodwill
0
6.62
Intangible assets
27.5
Other non-current assets
0.03
0.14
12.3
Total assets
510
14.9
282
1,528
Accounts payable
2.27
2.97
4.15
Accrued liabilities
0.3
0.84
1.89
20.5
Total current liabilities
1.48
3.2
5.34
25.5
Long-term debt
0
Lease liabilities
0
0.54
0.55
Other non-current liabilities
0
Total liabilities
19.4
49.2
30.9
52.2
Total debt
0
Paid-in capital
0
27.1
384
1,716
Retained earnings
-13.8
-61.5
-135
-241
Other comprehensive income
0
2.21
1.18
Shareholders' equity
-3.08
-34.4
251
1,476
Total equity
-3.08
-34.4
251
1,476
Total liabilities and equity
510
14.9
282
1,528
Shares outstanding
69.2
138
161
Cash flow statement
FY2022
FY2023
FY2024
FY2025
Net income
3.93
11.9
-73.6
-106
Depreciation and amortization
0.08
0.27
0.52
Stock-based compensation
0.78
12.5
41.8
Deferred income tax
0.29
0
0
-4.53
Change in payables
1.34
-1.76
-1.53
Cash from operations
-0.95
-16
-38.4
-82.2
Capital expenditures
-0.08
-0.35
-33.2
Acquisitions
0
-0.9
Purchases of investments
0
-292
-820
Sales and maturities of investments
0
116
377
Cash from investing
1.2
-0.08
-176
-490
Stock issued
0.11
0
1,264
Share buybacks
-216
Cash from financing
16.3
301
1,263
Net change in cash
0.24
0.21
87.3
691
Free cash flow
-16.1
-38.7
-115
Interest paid
0
0
Income taxes paid
0
6.76
0.91
2.46
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $38.04 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Return on equity (ROE)
-4.7%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-4.5%
Net income / average total assets.
Return on invested capital (ROIC)
-10.6%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Growth
Metric
Value
How it is calculated
Book value growth, 1y
488.5%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
442.5%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
44.2%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Share count change, 1y
48.0%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
48.5x
Current assets / current liabilities.
Quick ratio
31.7x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
31.6x
(Cash + short-term investments) / current liabilities.
Debt / equity
0.00x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
0.0%
Total debt / total assets.
Liabilities / assets
2.5%
Total liabilities / total assets.
Net debt
-$1.64B
Total debt - cash - short-term investments. Negative means more cash than debt.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
FCF per share
-$1.57
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$0.66
Cash from operations / diluted weighted shares.
Book value per share
$17.69
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/B
2.16x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
2.20x
Market cap / tangible book value, when positive.
FCF yield
-3.9%
Free cash flow / market cap.
Earnings yield
-2.2%
Net income / market cap (the inverse of P/E).
Was Oklo Inc. profitable in fiscal 2025?
No. It reported a net loss of $105.7M.
How much free cash flow did Oklo Inc. generate in fiscal 2025?
Cash from operations of $82.2M minus capital expenditures of $33.2M left free cash flow of -$115.4M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.