X-Energy (NYSE: XE), the Amazon-backed nuclear energy company, saw its stock plunge to a post-IPO low on Thursday following the release of its first quarterly earnings report as a public company.
The company debuted on public markets on April 24, making Thursday’s earnings release its first since becoming a publicly traded firm.
Shares of XE fell nearly 10% on the day, reflecting investor disappointment with a loss that came in far wider than the same period a year ago.
The results rattled confidence in a company that had drawn significant attention due to its high-profile backing from Amazon (NASDAQ: AMZN), which itself saw its stock rise 1.51% on the day.
X-Energy operates in the advanced nuclear reactor space, developing small modular reactor technology intended to provide clean, scalable energy solutions for commercial and industrial customers.
The wider quarterly loss underscored the capital-intensive nature of the nuclear development business, where companies routinely absorb heavy costs well ahead of generating meaningful revenue.
The post-IPO stumble arrives at a particularly challenging moment, as nuclear energy stocks more broadly have been cooling off after a period of elevated enthusiasm surrounding the sector.
Competitors and sector peers including Oklo and NNE also traded in negative territory during the session, suggesting broader caution among investors toward nuclear-related equities.
X-Energy’s IPO in late April had been watched closely given the growing interest in next-generation nuclear power as a solution to surging energy demand driven by artificial intelligence infrastructure and data center expansion.
Amazon’s involvement had lent credibility to X-Energy’s commercial ambitions, with the tech giant seen as a potential anchor customer for its modular reactor technology.
Thursday’s earnings report served as a reminder that even well-backed nuclear startups face a long and costly road before reaching commercial scale and profitability.
Investors will be watching closely in the coming quarters for signs that X-Energy can manage its cash burn while advancing its reactor development timeline toward meaningful deployment milestones.
