Oklo Inc. is due to report quarterly results around 6 November 2026, an estimate drawn from its past filing history rather than a confirmed schedule. The figures below come from the 10-Q filed 7 August 2026, which covers the quarter and trailing twelve months to 30 June 2026, together with the four quarterly filings that preceded it back to May 2025. Over that period, operating cash flow and capital spending have moved further apart than the net loss on the income statement, a divergence the next report will either extend or begin to narrow.

Cash conversion: does capital expenditure keep outrunning operating cash flow?

Over the trailing twelve months, operating cash flow came in at a loss of −$116.9 million and capital expenditure was $158.9 million, leaving free cash flow at a loss of −$275.8 million. Capital expenditure itself rose 11339.7% year over year on the same basis, a jump that implies a very small base a year earlier. These trailing twelve-month totals are built by summing four discrete quarters, each derived by differencing the cumulative cash-flow figures reported in successive filings, and the structured data used here do not identify which project or site absorbed the increase in capital spending; the 10-Q's own narrative disclosure would need to be checked for that detail. A continuing or widening gap between operating cash flow and capital spending in the next filing would extend the current pattern; a narrowing, through higher operating cash flow or a pause in capital spending, would begin to break it.

Earnings trajectory: does the loss narrow against the model's estimate?

In the quarter to 2026-06-30, Oklo's reported earnings per share missed Fundamentalytics' own model estimate, continuing a run of misses in recent quarters, a small sample that limits what one further data point can establish. This model estimate is built from the company's own historical reporting pattern; it is not a published consensus of outside analysts, none of which appears in the dataset behind this preview. The November filing will show whether the loss per share narrows toward, or widens away from, that modelled path.

Dilution: does the share count keep rising?

Diluted shares outstanding rose 29.8% year over year on a trailing twelve-month basis. The figure is an average across the period rather than a single quarter-end count, so it can reflect issuance spread across several reporting periods rather than one event. A similar increase in the next filing would be consistent with Oklo continuing to fund a large share of its operations and construction through equity issuance; a marked slowdown would mark a change in that financing mix. The filings reviewed here do not attribute the increase to any specific offering, option exercise or compensation programme, so the cause of the dilution itself remains unestablished.

What continued cash burn would mean for value

Our model treats free cash flow margin as the input most directly tied to Oklo's estimated value, and the trailing-twelve-month figures above show that margin moving further negative rather than stabilising. The dataset behind this preview does not include the sensitivity figures needed to quantify how a continuation of that move would change our estimate, so no such figure is given here; the live model value for Oklo is shown below instead. These are model values under stated assumptions, not a comparison with the share price.

For the fuller financial history behind these figures, see Fundamentalytics' Oklo company page.