Deep Fission 3Q 2026: Net loss $20.9M, EPS $(0.36) — 10-Q Summary

Deep Fission reported a net loss of $20.9M for the third quarter of 2026, compared with a $45.4M loss a year earlier. The loss narrowed by $24.5M, mainly because the prior-year quarter included a $36.7M fair-value loss on SAFE Notes; operating expenses rose 148% to $21.6M.

Financial Highlights

• Net loss was $20.9M in 3Q 2026, compared with $45.4M in 3Q 2025; the loss narrowed by $24.5M.
• Basic and diluted loss per share was $0.36, compared with $1.94 in the prior-year quarter.
• Operating expenses were $21.6M, up $12.9M, or 148%, year over year, including increases of $9.5M in R&D and $3.4M in G&A costs.

Business Highlights

• Deep Fission completed a data well to 6,000 feet and advanced a near full-scale proof-of-concept well at its Kansas site.
• In September 2026, the company lowered, aligned and retrieved a full-size prototype canister in a 34-inch borehole.
• The Department of Energy approved the Gravity Reactor’s Nuclear Safety Design Agreement. Deep Fission plans to seek a commercial license from the Nuclear Regulatory Commission in 2027.
• The company targets initial deployment of up to 5 MWe as early as 2027 and a separate 150 MW project targeted to begin operation in September 2028.
• Research and development activity increased as the company expanded pilot manufacturing, construction, design and pre-operational work for its first reactor demonstration.

Original SEC Filing: DEEP FISSION, INC. [ FISN ] - 10-Q - Nov. 04, 2026