X-Energy

Last updated: April 27, 2026
Ticker
XE
Exchange
NYSE
IPO Date
Pending
Price Range
$16.00 - $19.00
Deal Size
$1,018 million
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Company Snapshot

X-Energy is a company focused on developing advanced nuclear reactor technology, specifically the Xe-100 reactor. Their business model revolves around providing clean, reliable energy solutions while addressing the growing demand for sustainable power. The company's key value proposition lies in its innovative approach to nuclear energy, which aims to compete with traditional energy sources and emerging technologies.

Key Investors
ARK Investment Management, LLC

Per S-1 disclosure; % may not sum to 100% when ownership is nested, multi-class, or reported on different bases.

Key Financials

Metric20252024
Revenue$109.1M$120.2M
YoY Growth-9.2%-
Adjusted Net Loss-$389.8M-$126.0M
Margin %-357.3%-104.8%

Balance Sheet

Cash & Equivalents
$462.6M

Implied Valuation at Midpoint

Market Cap
$6.9B
P/S Ratio
63.4x

Based on price range midpoint and most recent fiscal year data.

S-1 Highlights

Market & Competition

The company competes with domestic and state-supported international nuclear suppliers, which may have greater resources and faster regulatory paths. Key competitors include Dow and various cloud computing providers.

Use of Proceeds

Proceeds from the IPO are expected to be utilized for general corporate purposes, including potential investments in technology and operational growth.

Key Risk Factors

  • The company faces intense competition from low-cost alternatives, which could pressure pricing and margins.
  • Delays in NRC licensing or facility construction could impair fuel availability and recurring revenue.

Deal Structure

Primary Shares
42,857,143 shares
Shares Outstanding
395,248,648 shares
Post-IPO Float
11.2%
Lock-up
No Lock-up Agreement
Lead Underwriters
J.P. Morgan, Morgan Stanley, Jefferies, Moelis & Company, Cantor, UBS Investment Bank, TD Cowen, Guggenheim Securities, Wolfe | Nomura Alliance

Reported Broker Availability

E*TRADEE*TRADE

Reported by users or publicly disclosed. Information is for reference only.

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