The company remains in a pre-revenue phase, reporting a consistent quarterly operating loss of $11.9 million in 2026Q1 as it navigates intensive regulatory and engineering requirements.
| Revenue | 0 | 0 | 248.36K | 18.61K |
| Revenue Growth % | - | -100% | 1234.25% | - |
| Cost of Revenue | 1.22M | 0 | 0 | 0 |
| Gross Profit | -1.22M | 0 | 248.36K | 18.61K |
| Gross Margin % | - | - | 100% | 100% |
| Gross Profit Growth % | - | -100% | 1234.25% | - |
| Operating Expenses | 38.48M | 25.2M | 10.6M | 14.26M |
| Other Operating Expenses | - | - | - | - |
| EBITDA | -38.28M | -24.03M | -9.1M | -12.41M |
| EBITDA Margin % | - | - | -3662.93% | -66664.35% |
| EBITDA Growth % | - | -164.2% | 26.69% | - |
| Depreciation & Amortization | 1.42M | 1.16M | 1.26M | 1.83M |
| D&A / Revenue % | - | - | 505.88% | 9831.29% |
| Operating Income (EBIT) | -39.7M | -25.2M | -10.35M | -14.24M |
| Operating Margin % | - | - | -4168.81% | -76495.64% |
| Operating Income Growth % | - | -143.36% | 27.29% | - |
| Interest Expense | 2M | 4.34M | 1.31M | 435.83K |
| Interest Coverage | - | -5.45x | -7.73x | -31.50x |
| Interest / Revenue % | - | - | 528.61% | 2341.39% |
| Non-Operating Income | 0 | -1000K | -1000K | 74.79K |
| Pretax Income | -46M | -28M | -11.46M | -14.16M |
| Pretax Margin % | - | - | -4616.12% | -76093.84% |
| Income Tax | 54.95K | 17.95K | 20.96K | -356.44K |
| Effective Tax Rate % | -0.12% | -0.06% | -0.18% | 2.52% |
| Net Income | -46.06M | -28.02M | -11.49M | -13.91M |
| Net Margin % | - | - | -4624.56% | -74720.44% |
| Net Income Growth % | - | -143.93% | 17.42% | - |
| EPS (Diluted) | -0.44 | -0.39 | -0.13 | -0.15 |
| EPS Growth % | - | -200% | 13.33% | - |
| EPS (Basic) | - | -0.39 | -0.13 | -0.15 |
| Diluted Shares Outstanding | 105.86M | 71.65M | 91.71M | 91.71M |
High regulatory and liquidity risk
As indicated by the company's financial statements, Terrestrial Energy Inc. has generated zero operational revenue over the last five quarters, reflecting its status as a pre-commercial developer focused entirely on the regulatory certification of its integral molten salt reactor technology rather than immediate market-based energy sales.
The absence of revenue confirms that the company remains in a capital-intensive development phase where value is driven by licensing milestones rather than volumetric energy delivery. Investors should monitor the transition from engineering-based cost centers to commercial revenue, which remains contingent on successful regulatory design reviews.
Based on reported figures, the company's operating income has remained consistently negative, with a quarterly loss of $11.9 million in 2026Q1, highlighting the significant financial burden of specialized engineering and regulatory compliance costs required to navigate the nuclear licensing process in North American jurisdictions.
The operating losses reflect the high fixed-cost nature of advanced nuclear development, where personnel and legal expenses dominate the income statement. This cost structure appears to be non-discretionary, as the company must maintain its technical and regulatory momentum to preserve its long-term commercial viability.
According to recent SEC filings, the company's net income has exhibited significant volatility, including a $31.2 million loss in 2025Q4, which suggests that non-operational items related to the recent SPAC business combination may be distorting the underlying trend of the firm's core research and development expenditures.
The reported earnings do not reflect sustainable operational power, as they are heavily influenced by corporate restructuring and warrant-related accounting. Analysts should focus on cash burn rates rather than net income to gauge the true runway available for the company's multi-year regulatory certification efforts.
While the income statement highlights current cash consumption, it fails to capture the substantial future logistical liabilities associated with the replacement of radioactive 400-ton core modules every seven years, a factor that may significantly impact long-term operating margins once the technology reaches the commercial deployment stage.
The current financial data masks the potential for future working capital strain caused by the specialized supply chain requirements for HALEU fuel and core module logistics. Investors should investigate whether the company's long-term cost projections adequately account for the decommissioning and transport risks inherent in its replaceable core model.
Quick answers to the most common questions about buying IMSR stock.
For fiscal year 2025, Terrestrial Energy Inc. (IMSR) reported total revenue of $0.0M. This represents a 100.0% decline compared to $0.0M in 2023.
Terrestrial Energy Inc. (IMSR) reported a net loss of $28.0M for the fiscal year ending 2025.