NuScale Power (SMR) 10-K 15 Mar 24 2023 FY Annual report Financial data

Cover

Cover - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Mar. 11, 2024	Jun. 30, 2023
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-04321
Entity Registrant Name	NuScale Power Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	98-1588588
Entity Address, Address Line One	12725 SW 66th Ave Suite 107
Entity Address, City or Town	Portland
Entity Address, State or Province	OR
Entity Address, Postal Zip Code	97223
City Area Code	971
Local Phone Number	371-1592
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 504
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant's proxy statement for its 2024 annual meeting of stockholders are incorporated by reference in Part III of this Form 10-K.
Entity Central Index Key	0001822966
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false
Class A
Entity Information [Line Items]
Title of 12(b) Security	Class A common stock, $0.0001 par value per share
Trading Symbol	SMR
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		79,810,924
Warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50 per share
Entity Information [Line Items]
Title of 12(b) Security	Warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50 per share
Trading Symbol	SMR.WS
Security Exchange Name	NYSE
Class B
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		154,477,032

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Location	Portland, Oregon
Auditor Firm ID	42

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 120,265	$ 217,685
Short-term investments	0	50,000
Restricted cash	5,100	0
Prepaid expenses	19,054	5,531
Accounts and other receivables	10,127	11,199
Total current assets	154,546	284,415
Property, plant and equipment, net	4,116	4,770
In-process research and development	16,900	16,900
Intangible assets, net	882	1,059
Goodwill	8,255	8,255
Long-lead material work in process	36,361	0
Restricted cash	0	26,532
Other assets	3,798	6,704
Total assets	224,858	348,635
Current liabilities
Accounts payable and accrued expenses	44,925	27,951
Accrued compensation	8,546	9,038
Long-lead material liability	32,323	0
Other accrued liabilities	1,664	1,568
Total current liabilities	87,458	38,557
Warrant liabilities	5,722	29,349
Deferred revenue	898	856
Noncurrent liabilities	1,442	2,786
Total liabilities	95,520	71,548
Stockholders’ Equity
Additional paid-in capital	333,888	296,748
Accumulated deficit	(240,454)	(182,092)
Total Stockholders' Equity Excluding Noncontrolling Interests	93,457	114,679
Noncontrolling interests	35,881	162,408
Total Stockholders' Equity	129,338	277,087
Total Liabilities and Stockholders' Equity	224,858	348,635
Class A
Stockholders’ Equity
Common stock, value, issued	$ 8	$ 7
Common stock, par value (usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (shares)	332,000,000	332,000,000
Common stock, shares issued (shares)	76,895,166	69,353,019
Total Shares (shares)	76,895,166	69,353,019
Class B
Stockholders’ Equity
Common stock, value, issued	$ 15	$ 16
Common stock, par value (usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (shares)	179,000,000	179,000,000
Common stock, shares issued (shares)	154,477,032	157,090,820
Total Shares (shares)	154,477,032	157,090,820

Consolidated Balance Sheet (Par

Consolidated Balance Sheet (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Class A
Common stock, par value (usd per share)	$ 0.0001	$ 0.0001	$ 0.0001
Common stock, shares authorized (shares)	332,000,000	332,000,000
Common stock, shares issued (shares)	76,895,166	69,353,019
Common stock, shares outstanding (shares)	76,895,166	69,353,019
Class B
Common stock, par value (usd per share)	$ 0.0001	$ 0.0001	$ 0.0001
Common stock, shares authorized (shares)	179,000,000	179,000,000
Common stock, shares issued (shares)	154,477,032	157,090,820
Common stock, shares outstanding (shares)	154,477,032	157,090,820

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Revenue	$ 22,810	$ 11,804	$ 2,862
Cost of sales	(18,961)	(7,317)	(1,770)
Gross margin	3,849	4,487	1,092
Research and development expenses	156,050	127,662	94,388
General and administrative expenses	65,404	55,307	38,725
Other expenses	57,960	51,513	42,279
Loss from operations	(275,565)	(229,995)	(174,300)
Sponsored cost share	61,031	72,514	73,522
Change in fair value of warrant liabilities	23,627	12,148	0
Interest income (expense)	10,792	3,760	(1,715)
Loss before income taxes	(180,115)	(141,573)	(102,493)
Provision (benefit) for income taxes	0	0	0
Net loss	(180,115)	(141,573)	(102,493)
Net loss attributable to legacy NuScale LLC holders prior to Transaction	0	(31,155)	0
Net loss attributable to noncontrolling interests	(121,753)	(84,504)	0
Net loss	$ (58,362)	$ (25,914)	$ (102,493)
Loss Per Share of Class A Common Stock:
Basic (usd per share)	$ (0.80)	$ (0.51)	$ 0
Diluted (usd per share)	$ (0.80)	$ (0.51)	$ 0
Weighted-Average Shares of Class A Common Stock Outstanding:
Basic (shares)	73,386,018	50,763,844	0
Diluted (shares)	73,386,018	50,763,844	0

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders’ Equity - USD ($) $ in Thousands	Total	Class A	Class B	Convertible Preferred Units	Common Units	Common Stock Class A	Common Stock Class B	Additional Paid-in Capital	Accumulated Deficit	Noncontrolling Interests
Beginning balance (shares) at Dec. 31, 2020	6,000,000
Beginning balance at Dec. 31, 2020	$ 2,140
Ending balance (shares) at Dec. 31, 2021	6,000,000
Ending balance at Dec. 31, 2021	$ 2,140
Beginning balance (shares) at Dec. 31, 2020				542,729,000
Beginning balance at Dec. 31, 2020				$ 629,089
Beginning balance (shares) at Dec. 31, 2020					5,492,000
Beginning balance at Dec. 31, 2020	(29,139)				$ 20,899				$ (679,127)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Sale of convertible preferred units (shares)				90,500,000
Sale of convertible preferred units	190,540			$ 190,540
Issuance of convertible preferred units (shares)				32,000
Issuance of convertible preferred units	65			$ 65
Exercise of common unit options (shares)					3,483,000
Exercise of common unit options	748				$ 748
Repurchase of common units (shares)					(15,000)
Repurchase of common units	(17)				$ (17)
Issuance of treasury units (shares)					114,000
Issuance of treasury units	113				$ 113
Equity-based compensation expense	6,441				6,441
Net loss	(102,493)								(102,493)
Net loss attributable to legacy NuScale LLC holders prior to Transaction	0
Ending balance (shares) at Dec. 31, 2021				633,261,000
Ending balance at Dec. 31, 2021				$ 819,694	$ 28,184
Ending balance (shares) at Dec. 31, 2021					9,074,000
Ending balance at Dec. 31, 2021	66,258				$ 28,184				(781,620)
Ending balance (shares) at Dec. 31, 2021					9,074,000
Ending balance at Dec. 31, 2021	$ 66,258							$ 0	(781,620)	$ 0
Increase (Decrease) in Temporary Equity [Roll Forward]
Reverse recapitalization, net (shares)	(6,000,000)
Reverse recapitalization, net	$ (2,140)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of common unit options (shares)					3,764,000
Exercise of common unit options	847				$ 847
Repurchase of common units (shares)					(358,000)
Repurchase of common units	(566)				$ (566)
Issuance of treasury units (shares)					12,000
Issuance of treasury units	20				$ 20
Equity-based compensation expense	9,331				1,359			7,972
Net loss	(141,573)
Conversion of equity award to liability award	(50)				$ (50)
Reverse recapitalization, net (shares)				(633,261,000)	(12,492,000)	41,971,000	178,397,000
Reverse recapitalization, net	307,850			$ (819,694)	$ (29,794)	$ 4	$ 18	220,606	656,597	280,113
Exercise of common share options and warrants and vested RSUs (shares)						4,432,000
Exercise of common share options and warrants and vested RSUs	34,970					$ 1		34,969
Issuance of earn-out shares upon triggering event (shares)						1,644,000
Issuance of earn-out shares upon triggering event	0
Conversion of combined interest into Class A shares (shares)						21,306,000	(21,306,000)
Conversion of combined interest into Class A shares	0					$ 2	$ (2)
Rebalancing of ownership percentage for conversion of combined interest into Class A shares	0							33,201		(33,201)
Net loss attributable to legacy NuScale LLC holders prior to Transaction	(31,155)								(31,155)
Net loss after the Transaction	(110,418)								(25,914)	(84,504)
Ending balance (shares) at Dec. 31, 2022		69,353,019	157,090,820			69,353,000	157,091,000
Ending balance at Dec. 31, 2022	277,087					$ 7	$ 16	296,748	(182,092)	162,408
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of convertible preferred units (shares)						1,737,000
Issuance of convertible preferred units	$ 9,836							9,836
Exercise of common unit options (shares)	2,416,987
Equity-based compensation expense	$ 16,239							16,239
Net loss	(180,115)								(58,362)	(121,753)
Exercise of common share options and warrants and vested RSUs (shares)						3,191,000
Exercise of common share options and warrants and vested RSUs	6,291							6,291
Conversion of combined interest into Class A shares (shares)						2,614,000	(2,614,000)
Conversion of combined interest into Class A shares	0					$ 1	$ (1)
Rebalancing of ownership percentage for conversion of combined interest into Class A shares	0							4,774		(4,774)
Net loss attributable to legacy NuScale LLC holders prior to Transaction	0
Ending balance (shares) at Dec. 31, 2023		76,895,166	154,477,032			76,895,000	154,477,000
Ending balance at Dec. 31, 2023	$ 129,338					$ 8	$ 15	$ 333,888	$ (240,454)	$ 35,881

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
OPERATING CASH FLOW
Net loss	$ (180,115)	$ (141,573)	$ (102,493)
Adjustments to reconcile net loss to operating cash flow:
Depreciation	2,380	2,521	2,018
Amortization of intangibles	177	177	177
Equity-based compensation expense	16,239	9,331	6,441
Accrued interest on convertible note payable	0	0	127
Change in fair value of warrant liabilities	(23,627)	(12,148)	0
Impairment of intangible asset	797	0	0
Net noncash change in right of use assets and lease liabilities	(2,360)	2,385	1,501
Changes in assets and liabilities:
Prepaid expenses and other assets	(10,043)	(2,243)	(1,540)
Accounts receivable	1,072	(6,366)	(2,043)
Long-lead material work in process	(36,361)	0	0
Accounts payable and accrued expenses	18,246	2,987	5,886
Long-lead material liability	32,323	0	0
Lease liability	(1,701)	(1,504)	(1,650)
Deferred DOE cost share	0	(104)	(13,254)
Deferred revenue	42	(559)	1,148
Accrued compensation	(323)	(1,513)	4,520
Net cash used in operating activities	(183,254)	(148,609)	(99,162)
INVESTING CASH FLOW
Sale (purchase) of short-term investments	50,000	(50,000)	0
Purchases of property, plant and equipment	(1,725)	(2,332)	(1,952)
Net cash provided by (used in) investing activities	48,275	(52,332)	(1,952)
FINANCING CASH FLOW
Proceeds from the issuance of common stock, net of issuance fees	9,836	0	0
Proceeds from exercise of warrants and common share options	6,291	28,702	0
Proceeds from Transaction, net	0	341,462	0
Payments of Transaction costs	0	(2,401)	0
Repayment of debt	0	0	(20,000)
Proceeds from short-term borrowings	0	0	27,200
Repayment of short-term borrowings	0	0	(27,200)
Proceeds from sale of convertible preferred units	0	0	192,500
Proceeds from exercise of common unit options	0	847	748
Repurchase of common units	0	(566)	(17)
Issuance of treasury units	0	20	113
Net cash provided by financing activities	16,127	368,064	173,344
Net change in cash, cash equivalents and restricted cash	(118,852)	167,123	72,230
Cash, cash equivalents and restricted cash:
Beginning of period	244,217	77,094	4,864
End of period	125,365	244,217	77,094
Summary of noncash investing and financing activities:
Assumption of Transaction warrant liabilities	0	47,532	0
Debt converted to equity	0	14,181	0
Warrants converted into equity	0	6,268	0
Conversion of equity options to liability award	0	50	0
Equity issuance fees	0	0	1,960
Conversion of accounts payable to convertible preferred units	0	0	65
Supplemental disclosures of cash flow information:
Cash paid for interest	$ 0	$ 0	$ 1,478

The Company

The Company	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The Company	The Company Organization NuScale Corp (“NuScale”, the “Company”, “us”, “we” or “our”) is incorporated under the laws of the state of Delaware. The Company is the primary beneficiary of NuScale LLC, a variable interest entity, and all activity of NuScale LLC and the Company are consolidated herein. NuScale LLC is a limited liability company organized in the State of Oregon in 2011. The Company is majority owned by Fluor Enterprises, Inc., a subsidiary of Fluor Corporation. Operations The Company is commercializing a modular, scalable 77 megawatt (gross) electric Light Water Reactor nuclear power plant using exclusive rights to a nuclear power plant design obtained from Oregon State University (“OSU”). The Company also uses the test facility at OSU through a technology transfer agreement. The following represents key milestones in the development of this technology: • December 2016: DCA completed • January 2017: DCA submitted to the NRC • March 2017: DCA accepted for review by the NRC • August 2020: NRC issued the Final Safety Evaluation Report ("FSER") • July 2023: SDA Application and associated licensing topical reports accepted for formal review by the NRC The FSER represents the NRC’s completion of its technical review and approval of the NuScale SMR design. With this final phase of NuScale’s DCA now complete, customers may proceed with plans to develop NuScale power plants with the understanding that the NRC has approved the safety aspects of the NuScale design. Based on the NRC’s published schedule for SDA Application review, we expect the NRC will complete its review and SDA approval to be received by July 31, 2025. The majority of the Company’s operations and long-lived assets were attributable to operations in the United States as of and for the years ended December 31, 2023, 2022 and 2021, with only the long-lead material work in process being manufactured in South Korea during the 2023 fiscal year. The Company’s activities are subject to significant risks and uncertainties, including failing to secure funding to sustain operations until our SDA applications are approved by the NRC, we reach commercialization and secure customers. U. S. Department of Energy Funding Beginning in 2014, the U.S. DOE has provided critical funding to NuScale through a series of cooperative agreements which support ongoing commercialization activities. The agreements, which were active during 2023, 2022 and 2021 are discussed below. U.S. Department of Energy NuScale SMR FOAK Nuclear Demonstration Readiness Project Completion (Award 8928) In February 2020, NuScale LLC was awarded up to $350,000 under “SMR FOAK Nuclear Demonstration Readiness Project Completion” (“Award 8928”). This program is expected to complete all remaining licensing activities, first-of-a-kind engineering, supply chain development, testing and other required activities to have the NuScale SMR ready to enable timely client project deployment. The award consisted of NuScale cost share of $350,000 (50%) and government cost share of $350,000 (50%). Subsequently the award has been amended and DOE obligated $262,656, of which NuScale has collected a total of $260,709 through December 31, 2023 with no future obligations guaranteed. U.S. Department of Energy Carbon Free Power Project Award (Award 8369) In April 2015, NuScale LLC was awarded an Assistance Agreement, “Site Permitting and Licensing of the NuScale Small Modular Reactor”. Utah Associated Municipal Power Systems was identified as a sub-recipient under the Carbon Free Power Project (“CFPP”) award. UAMPS was considering developing, constructing and owning a 462 MWe (gross) nuclear powered energy center using NuScale’s SMR technology. The CFPP award consisted of DOE cost share of $16,617 (50%) and NuScale and UAMPS cost share of $16,617 (50%) to facilitate site permitting and related licensing activities. In January 2019 the DOE renewed the award extending the period of performance through December 2023 and increasing the total amount of the award to $126,694. The cost sharing percentages remained at DOE cost share of 50% and NuScale and UAMPS cost share of 50% of the total award. This award was later amended to consist of DOE cost share of $8,250 (50%) and NuScale and UAMPS cost share of $8,250 (50%). Cumulative cash received through December 31, 2021 was $7,521, with the remaining $729 being paid by the DOE to a third party, in accordance with the Award, for services provided. The period of performance under this award ended October 31, 2021 due to UAMPS applying as prime recipient for Award 8935. NuScale has no cost share under Award 8935. Liquidity

Merger Transaction

Merger Transaction	12 Months Ended
	Dec. 31, 2023
Reverse Recapitalization [Abstract]
Merger Transaction	Merger Transaction Merger with Spring Valley In December 2021, NuScale LLC entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Spring Valley Acquisition Corp. (“Spring Valley”) and Spring Valley Merger Sub, LLC (“Merger Sub”), a wholly owned subsidiary of Spring Valley. Pursuant to the Merger Agreement, Merger Sub merged with and into NuScale LLC (the “Merger”), with NuScale LLC surviving the Merger (the “Surviving Company”), Spring Valley being renamed NuScale Corp, and NuScale LLC continuing to be held as a wholly controlled subsidiary of NuScale Power Corporation in an “Up-C” structure. On May 2, 2022, the Merger and other transactions contemplated by the Merger Agreement (collectively the “Transaction”) was completed. The Transaction is shown as a reverse recapitalization under GAAP. Spring Valley is the acquired company, with NuScale LLC treated as the acquirer. This determination reflects Legacy NuScale Equityholders holding a majority of the voting power of NuScale Corp, NuScale LLC’s pre-merger operations being the majority post-merger operations of NuScale Corp and NuScale LLC’s management team retaining similar roles at NuScale Corp. Accordingly, although NuScale Corp (f/k/a Spring Valley) is the parent company, GAAP dictates that the financial statements of NuScale Corp represent a continuation of NuScale LLC’s operations, with the Transaction being treated as though NuScale LLC issued ownership interests for Spring Valley, accompanied by a recapitalization. The net assets of NuScale LLC are stated at historical cost, with no incremental goodwill or other intangible assets recorded for the effects of the Transaction. In connection with the Transaction: • Each Convertible Preferred Unit of NuScale LLC was converted into common units using an exchange ratio, and each NuScale LLC common unit holder received a certain number of NuScale LLC Class B units and non-economic voting shares of NuScale Corp Class B common stock based on an exchange ratio. Holders of NuScale LLC Class B units have the right to exchange each Class B unit, together with the cancellation for no consideration of one share of NuScale Corp Class B common stock, par value $0.0001, for one share of NuScale Corp Class A common stock, par value $0.0001, or cash, subject to certain restrictions. • Institutional and accredited investors purchased 23,700,002 shares of Class A common stock for an aggregate amount of $235,000. The consummation of the Transaction resulted in NuScale LLC receiving cash equal to $341,500 and assuming Warrant liabilities valued at $47,500. Tax Receivable Agreement Substantially all of the assets of the combined company are held by NuScale LLC, and NuScale Corp’s only assets are its equity interest in NuScale LLC and prepaid assets. NuScale Corp entered into a Tax Receivable Agreement (“TRA”) with NuScale LLC, each of the TRA Holders (as defined in the TRA), and Fluor, in its capacity as TRA Representative (as defined in the TRA). Pursuant to the TRA, NuScale Corp must pay 85% of the net cash tax savings from certain tax benefits, if any, that it realizes (or in certain cases is deemed to realize) as a result of any increases in tax basis and other tax benefits resulting from any exchange by the TRA holders of NuScale LLC Class B units and NuScale Corp Class B common stock for shares of Class A common stock or cash in the future. NuScale Corp will benefit from the remaining 15% of cash tax savings, if any, realized as a result of such tax benefits. Cash tax savings will be computed by comparing NuScale Corp’s actual income tax liability to the amount of such taxes that NuScale Corp would have been required to pay had there been no increase to the tax basis of its assets as a result of the Transaction or the exchanges and had NuScale Corp not entered into the TRA (calculated by making certain assumptions). As of December 31, 2023 , there have been 23,919,679 Class B units exchanged for shares of Class A common stock. Associated with these exchanged units we have calculated an implied TRA obligation of $60,347 as of

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Principles of Consolidation As part of the Transaction, NuScale Corp has been determined to be the primary beneficiary of NuScale LLC, a variable interest entity (“VIE”). As the sole managing member of NuScale LLC, NuScale Corp has both the power to direct the activities, and direct ownership to share in the revenues and expenses of NuScale LLC. As such, all the activity of NuScale LLC has been consolidated in the accompanying consolidated financial statements. All assets and liabilities included in the consolidated balance sheet are that of NuScale LLC, other than the Warrants and certain prepaid assets. All intercompany transactions have been eliminated upon consolidation. Changes in Presentation For the year ended December 31, 2022, sponsored cost share totaling $177 that was previously included in Interest income (expense) has been reclassified to Sponsored cost share to conform to the current year presentation on the accompanying consolidated statements of operations. No such reclassifications were required for the other years. For the year ended December 31, 2022 , amounts totaling $4,246 and $3,504 were reclassified out of G&A expenses and into R&D expenses and Other expenses, respectively, while for the year ended December 31, 2021, amounts totaling $1,252 and $5,249, respectively, were reclassified out of G&A expenses and into R&D expenses and Other expenses, to conform to the current year presentation. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make certain estimates, judgments and assumptions. NuScale believes that the estimates, judgments and assumptions made when accounting for items and matters such as, but not limited to, depreciation, amortization, in-process research and development (“IPR&D”), asset valuations, equity-based compensation and contingencies are reasonable, based on information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities as of the date of the financial statements, as well as amounts reported on the statements of operations during the periods presented. Actual results could differ from those estimates. Cash, Cash Equivalents and Restricted Cash Cash equivalents represent short-term, highly liquid investments, which are readily convertible to cash and have maturities of three months or less at time of purchase. Cash equivalents with an initial maturity of between three and twelve months at time of purchase are presented as short-term investments on the accompanying consolidated balance sheet. Cash equivalents and short-term investments consist of certificates of deposit. These certificates of deposit are classified as held-to-maturity, and the estimated fair value of the investment approximates its amortized cost. Cash in the amount of $5,100 is restricted as collateral for the letter of credit associated with the Release Agreement with CFPP LLC at December 31, 2023, while at December 31, 2022, cash in the amount of $26,532 was restricted as collateral for the letter of credit associated with the DCRA. The DCRA spanned multiple years requiring the amount to be classified as a noncurrent asset in the prior year, while the Release Agreement will be finalized during the 2024 fiscal year resulting in the related restricted cash being classified as a current asset, both of which are identified as Restricted cash in the consolidated balance sheet. The restricted cash balance plus cash and cash equivalents on the consolidated balance sheet equals cash, cash equivalents and restricted cash, as reflected in the consolidated statements of cash flows. Sales and Marketing Agreements The Company has entered into sales and marketing agreements pursuant to which it prepaid certain expenses to the counterparty. As of December 31, 2023, the balance of $15,000 is included in Prepaid expenses, on the accompanying consolidated balance sheet and will be amortized monthly on a straight-line basis through the period ended December 31, 2024. Accounts and Other Receivables Accounts and other receivables include reimbursement requests outstanding from cost share agreements with various entities, interest receivable and commercial accounts receivable associated with other federal projects. The reimbursement requests outstanding from DOE awards are recognized as eligible costs are incurred. Reimbursement under the awards are included in Sponsored cost share in the consolidated statements of operations. The majority of our receivables are either due from the U.S. federal government or have to do with a federal project. For these reasons, all receivables are deemed to be fully collectible and no allowance has been recorded. In-process Research and Development IPR&D represents incomplete research and development projects that had not reached technological feasibility as of their acquisition date in 2011. Due to the nature of IPR&D, the expected life is indefinite and it will be evaluated periodically for attainment of technological feasibility or impairment. Technological feasibility is established when an enterprise has completed all planning, designing, coding and testing activities that are necessary to establish that a product can be produced to meet its design specifications including functions, features and technical performance requirements. IPR&D was concluded to include both fundamental and defensive technologies comprised of OSU-licensed and NuScale-owned patented and unpatented technology and trade secrets. Such technologies are designed to work together in the operation of a nuclear power module. IPR&D is amortized over its estimated useful life once technological feasibility is reached. As the Company has not yet completed all designing, coding and testing activities, management has determined that technological feasibility has not yet been reached. Management has not identified any indicators that would suggest any impairment of the IPR&D. If IPR&D is determined not to have technological feasibility or is abandoned, it will be impaired or written off at such time. Revenue Recognition In addition to advancing the commercialization of its SMR, the Company provides engineering services to customers. The Company recognizes fixed price contract revenue with multiple performance obligations as each obligation is completed. The Company allocates the transaction price to each performance obligation using an estimate of the stand-alone selling price of each distinct service in the contract. Revenue recognized on contracts that has not been billed to customers is classified as a current asset under Accounts and other receivables on the consolidated balance sheet. Amounts billed to clients in excess of revenue recognized are classified as a current liability under Deferred revenue. The Company recognizes time and material contract revenue as incurred, while our cost plus fixed-fee contract revenue is recognized over time, matching continuous transfer of control to the customer. The Company accounts for these contracts as a single performance obligation and recognizes revenue using the percentage-of-completion method, based primarily on contract cost incurred to date compared to total estimated contract cost. The percentage-of-completion method (an input method) is the most faithful depiction of the Company’s performance because it directly measures the value of the services transferred to the customer. Changes to total estimated contract cost or losses, if any, are recognized in the period in which they are determined as assessed at the contract level. Pre-contract costs are expensed as incurred unless they are expected to be recovered from the client. The Company excludes from its measurement of transaction prices all taxes assessed by governmental authorities that are both (i) imposed on and concurrent with a specific revenue-producing transaction and (ii) collected from customers. Accordingly, such tax amounts are not included as a component of revenue or cost of sales. Customer payments on contracts are typically due within 30 days of billing, depending on the contract. The Company generally provides limited warranties for work performed under its engineering contracts. The warranty periods typically extend for a limited duration following substantial completion of the Company’s work on a project. Historically, warranty claims have not resulted in material costs incurred, and for the periods presented, no warranty liability has been recorded. Sponsored Cost Share As our commercialization activities advance, we have continued to enter into cost share agreements with various entities, including both governmental and private, under which the Company is reimbursed for specific R&D activities. As of December 31, 2023 , these entities include DOE, United States Department of State and United States Trade and Development Agency (combined as “USG”), CFPP LLC and RoPower Nuclear S.A. Since 2014, the DOE has provided critical funding to the Company through a series of cooperative agreements that support ongoing commercialization activities. During the year ended December 31, 2023, 2022 and 2021, DOE cost share totaled $29,320, $72,337 and $73,522. Beginning in 2021, the Company partnered with USG to develop SMRs in foreign markets. Under USG’s technical assistance grant programs, we receive cost share commitments to support licensing work in these foreign markets, one of which is additionally supported by RoPower Nuclear S.A. During the year ended December 31, 2023 and 2022, USG cost share totaled $23,828 and $177, respectively, while there was no such cost share received during 2021. Finally, we received subrecipient cost share from CFPP LLC under a contract between the DOE and UAMPS for R&D performed. Under this agreement we received cost share of $7,883 for the year ended December 31, 2023, with no such subrecipient cost share earned prior to this year. Fair Value Measurement The Company measures certain financial assets and liabilities at fair value. Fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the Company uses a three-level hierarchy, which prioritizes fair value measurements based on the types of inputs used for the various valuation techniques (market approach, income approach and cost approach). The levels of hierarchy are described below: Level 1 Quoted prices in active markets for identical instruments; Level 2 Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets; and Level 3 Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Financial assets and liabilities are classified in their entirety based on the most stringent level of input that is significant to the fair value measurement. The carrying amount of certain financial instruments, including prepaid expenses and deposits, accounts payable and accrued expenses approximates fair value due to their short maturities. Property, Plant and Equipment All additions, including betterments to existing facilities, are recorded at cost. Maintenance and repairs are charged to expense as incurred. When assets are retired or otherwise disposed of, the cost of the assets and the related accumulated depreciation is derecognized with any gain or loss recorded in the year of disposition. Depreciation is based on the estimated useful lives of the assets using the straight-line method. Furniture and fixtures are depreciated over useful lives of seven years. Computer software is depreciated over useful lives of three Long-Lived Assets Long-lived assets including primarily property and equipment and acquired IPR&D are reviewed for impairment annually and when events or changes in circumstances indicate that the carrying amount of assets may not be recoverable. If this review indicates that the carrying amount will not be recoverable, as determined based on comparing the estimated undiscounted future cash flows to the carrying amount, impairment is measured by comparing the carrying amount to fair value. No impairment charges were incurred for the years ended December 31, 2023, 2022 and 2021. Goodwill Goodwill is the excess of the purchase price paid over the fair value of the net assets of a business acquired in a purchase business combination. Goodwill is not amortized but is reviewed for impairment annually or whenever events or changes in circumstances arise during the year that indicate the carrying amount of goodwill may not be recoverable. Impairment exists when the carrying amount of the reporting unit exceeds its fair value and an impairment loss is recognized. Leases The Company recognizes right-of-use assets and lease liabilities for leases with terms greater than 12 months. Leases are classified as either finance or operating leases. This classification dictates whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. As of December 31, 2023 and 2022, the Company has only operating leases. The Company’s right-of-use assets relate to office facilities, some of which include one or more options to renew, with renewal terms that can extend the lease term up to 4 years. The exercise of the lease renewal is at the Company’s discretion. Renewal periods are included in the expected lease term if they are reasonably certain of being exercised by the Company. None of the Company’s lease agreements contain material residual value guarantees or material restrictions or covenants. Long-term leases (leases with initial terms greater than 12 months) are capitalized at the present value of the minimum lease payments not yet paid. The Company uses its incremental borrowing rate to determine the present value of the lease when the rate implicit in the lease is not readily determinable. Short-term leases (leases with an initial term of 12 months or less or leases that are cancelable by the lessee and lessor without significant penalties) are not capitalized but are expensed on a straight-line basis over the lease term. The Company’s short-term leases relate to office facilities or office equipment. Warrant Liability The Company accounts for the Warrants in accordance with the guidance contained in ASC 815, Derivatives and Hedging, under which the Warrants do not meet the criteria for equity treatment and must be recorded as liabilities. Accordingly, the Company classifies the Warrants as liabilities at their fair value and adjusts the warrants to fair value at each reporting period. This liability is subject to re-measurement at each balance sheet date until exercised, and any change in fair value is recognized in the Company’s consolidated statements of operations. The fair value of the Public and Private Placement Warrants has been estimated using the Public Warrants’ quoted market price. Equity-Based Compensation Our long-term incentive plan provides for grants of nonqualified or incentive stock options, restricted stock award units (“RSU”s) and performance-based award units. Equity-based compensation is measured using a fair value-based method for all equity-based awards. The cost of awarded equity instruments is recognized based on each instrument’s grant-date fair value over the period during which the grantee is required to provide service in exchange for the award. The determination of fair value for nonqualified or incentive stock options requires significant judgment and the use of estimates, particularly with regard to Black-Scholes assumptions such as stock price, volatility and expected option lives to value equity-based compensation, while forfeitures are recognized as incurred. The grant date fair value of RSUs is based on the closing market price of our Class A common stock on the grant date as stated on the NYSE. The option valuation model used to calculate the Company’s options uses the treasury yield curve rates for the risk-free interest rate for a period equal to the expected option life and the simplified method to calculate the expected option life (options qualified as ‘plain vanilla’ under the provisions of Staff Accounting Bulletin 107). Volatility is determined by reference to the actual volatility of several publicly traded companies that are similar to NuScale in its industry sector. The Company does not anticipate paying any cash dividends in the foreseeable future and therefore uses an expected dividend yield of zero in the option valuation model. Forfeitures are recognized as they occur. All equity-based payment awards are amortized on a straight-line basis over the requisite service periods of the awards. Equity-based compensation is recorded as a general and administrative expense and other expense in the statements of operations. Segment Information The Company has determined that its Chief Executive Officer (“CEO”), Chief Operating Officer (“COO”) and Chief Financial Officer (“CFO”) are its chief operating decision makers. These individuals review financial information presented for purposes of assessing performance and making decisions on how to allocate resources at the overall company level. The Company has determined that it currently operates as a single segment, though it will periodically revisit the information used by its chief operating decision makers to allocate resources and to manage the operations as it nears commercialization and deployment of its NPMs. Research and Development R&D expenses represent costs incurred for designing and engineering products, including the costs of developing design tools. All research and development costs related to product development are expensed as incurred. Advertising Advertising costs are expensed as incurred and are recognized as a component of general and administrative expenses on the consolidated statement of operations. Advertising costs expensed were approximately $14,617, $7,340 and $2,600 for the years ended December 31, 2023, 2022 and 2021, respectively. Income Taxes NuScale Corp accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that the deferred tax assets will be realized. Deferred tax assets and liabilities are calculated by applying existing tax laws and the rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in the year of the enacted rate change. The Company accounts for uncertainty in income taxes using a recognition and measurement threshold for tax positions taken or expected to be taken in a tax return, which are subject to examination by federal and state taxing authorities. The tax benefit from an uncertain tax position is recognized when it is more likely than not that the position will be sustained upon examination by taxing authorities based on technical merits of the position. The amount of the tax benefit recognized is the largest amount of the benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The effective tax rate and the tax basis of assets and liabilities reflect management’s estimates of the ultimate outcome of various tax uncertainties. Once identified, the Company will recognize penalties and interest related to uncertain tax positions within the provision (benefit) for income taxes line in the accompanying consolidated statements of operations. NuScale LLC is a limited liability company treated as a partnership for U.S. federal income tax purposes that is not subject to U.S. federal income tax. As such, its net taxable income or loss and any related tax credits are allocated to its members. Recent Accounting Pronouncements The Company considers the applicability and impact of all Accounting Standards Updates (“ASU”) issued by the Financial Accounting Standards Board (“FASB”). In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280) : Improvements to Reportable Segment Disclosures which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 is effective for our annual periods beginning January 1, 2024, and for interim periods beginning January 1, 2025, with early adoption permitted. The adoption of this standard is not expected to have a material impact on the Company’s financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) : Improvements to Income Tax Disclosures, to enhance the transparency and decision usefulness of income tax disclosures. ASU 2023-09 is effective for annual periods beginning after December 15, 2024 on a prospective basis and early adoption is permitted. The Company is currently evaluating the impact of the adoption of this standard.

Equity and Loss Per Share

Equity and Loss Per Share	12 Months Ended
	Dec. 31, 2023
Noncontrolling Interest And Earnings Per Share [Abstract]
Equity and Loss Per Share	Equity and Loss Per Share Noncontrolling Interests Following the Transaction, holders of Class A common stock own direct controlling interest in the results of the combined entity, while the Legacy NuScale Equityholders own an economic interest in NuScale LLC, shown as noncontrolling interests (“NCI”) in equity in NuScale Corp’s consolidated financial statements. The indirect economic interests are held by Legacy NuScale Equityholders in the form of NuScale LLC Class B units. The following table summarizes the economic interests of NuScale Corp between the holders of Class A common stock and indirect economic interests held by NuScale LLC Class B unitholders: As of and for the year ended December 31, 2023 As of and for the period from May 2, 2022 through December 31, 2022 NuScale Corp Class A common stock Beginning of period 69,353,019 41,971,380 Conversion of combined interests into Class A common stock 2,613,788 21,305,891 Issuance of Class A common stock 1,737,378 — Vesting or exercise of equity awards 3,190,981 4,431,824 Vesting of earn out shares — 1,643,924 End of period 76,895,166 69,353,019 NuScale LLC Class B units (NCI) Beginning of period 157,090,820 178,396,711 Conversion of combined interests into Class A common stock (2,613,788) (21,305,891) End of period 154,477,032 157,090,820 Total Beginning of period 226,443,839 220,368,091 Issuance of Class A common stock 1,737,378 — Vesting or exercise of equity awards 3,190,981 4,431,824 Vesting of earn out shares — 1,643,924 End of period 231,372,198 226,443,839 As of and for the year ended December 31, 2023 As of and for the period from May 2, 2022 through December 31, 2022 Ownership Percentage NuScale Corp Class A common stock Beginning of period 30.6 % 19.0 % End of period 33.2 % 30.6 % NuScale LLC Class B units (NCI) Beginning of period 69.4 % 81.0 % End of period 66.8 % 69.4 % The NCI may decrease according to the number of shares of Class B common stock and NuScale LLC Class B units that are exchanged for shares of Class A common stock or, in certain circumstances including at the election of NuScale Corp, cash in an amount equal to the fair value of Class A common stock received in a contemporaneous equity issuance. After each exchange, NuScale LLC equity attributable to NuScale Corp is rebalanced to reflect the change in ownership percentage, which is calculated above based on Class B units and Class A shares, as a percentage of combined interests. Members’ Equity of NuScale LLC Prior to the Transaction, NuScale LLC issued equity consisting of common units and convertible preferred units (“CPU”s). Each common unit was entitled to one vote, while holders of CPUs had voting rights equivalent to the number of CPUs held multiplied by a common equivalent ratio, as defined, which was set at 100% at the time of the Company’s recapitalization in 2011. The CPUs had a 10.0% cumulative preferred return per year compounded quarterly on the unreturned preferred capital, beginning on the date such CPU was issued. In addition, as discussed further in note 9, NuScale LLC had mezzanine equity. As consideration for the reverse recapitalization, 178,396,711 shares of NuScale Corp’s Class B common stock were issued. Simultaneously, all NuScale LLC units and CPUs outstanding were reclassified to common stock and additional paid-in capital at carrying value, including NuScale LLC units previously presented as mezzanine equity. In addition, the accumulated preferred return was nullified upon conversion. Loss Per Share Prior to the Transaction, the membership structure of NuScale LLC included units that had profit interests. The Company analyzed the calculation of net loss per unit for periods prior to the Transaction and determined that it resulted in values that would not be meaningful to the readers of these financial statements. Therefore, net loss per unit information has not been presented for periods prior to May 2, 2022. Basic loss per share is based on the weighted-average number of shares of Class A common stock outstanding during the period. Diluted loss per share is based on the average number of shares of Class A common stock used for the basic earnings per share calculation, adjusted for the dilutive effect of RSUs, Stock Options and Warrants, if any, using the “treasury stock” method and for all other interests that convert into potential shares of Class A common stock, if any, using the “if converted” method. Net loss attributable to Class A common stockholders for diluted loss per share is adjusted for the Company’s share of NuScale LLC’s net loss, net of NuScale Corp taxes, after giving effect to all other interests that convert into potential shares of Class A common stock, to the extent it is dilutive. In addition, net loss attributable to Class A common stockholders for diluted loss per share is adjusted for the after-tax impact of changes to the fair value of warrant liabilities, to the extent the Company’s Warrants are dilutive. The following table sets forth the computation of basic and diluted net loss per share of Class A common stock and represents the period where the Company had Class A and Class B common stock outstanding. Class B common stock represents a right to cast one vote per share at the NuScale Corp level, and carry no economic rights, including rights to dividends or distributions upon liquidation, and as a result, is not considered a participating security for basic and diluted loss per share. As such, basic and diluted loss per share of Class B common stock has not been presented. As of and for the year ended December 31, 2023 As of and for the period from May 2, 2022 through December 31, 2022 Net loss attributable to Class A common stockholders $ (58,362) $ (25,914) Weighted-average shares for basic and diluted loss per share 73,386,018 50,763,844 Basic and Diluted loss per share of Class A common stock $ (0.80) $ (0.51) Anti-dilutive securities excluded from shares outstanding: Class B common shares 154,477,032 157,090,820 Stock options 9,565,211 12,224,783 Warrants 18,458,701 18,458,703 Time-based RSUs 3,255,317 2,140,651 Total 185,756,261 189,914,957 On August 9, 2023, NuScale entered into a Sales Agreement with Cowen and Company, LLC, B. Riley Securities, Inc. and Canaccord Genuity LLC as sales agents under which the Company may offer and sell shares of the Company’s Class A common stock, having an aggregate sales price of up to $150,000 from time to time through the sales agents (“ATM Program”). During the year ended December 31, 2023, the Company issued and sold 1,737,378 shares of Class A common stock for the gross and net proceeds of $10,356 and $9,836, respectively, with no such sales for the same periods in the prior year. As of December 31, 2023 , we have 18,262,622 shares of Class A common stock, at an aggregate sales price up to $139,644, eligible for sale under the ATM Program. Subsequent to December 31, 2023, the Company issued and sold 2,111,199 shares of Class A common stock for the gross and net proceeds of $5,578 and $5,438, respectively.

Warrant Liabilities

Warrant Liabilities	12 Months Ended
	Dec. 31, 2023
Warrants and Rights Note Disclosure [Abstract]
Warrant Liabilities	Warrant Liabilities As of December 31, 2023, the Company had 9,558,701 Public Warrants and 8,900,000 Private Placement Warrants outstanding, while at December 31, 2022, the Company had 9,558,703 Public Warrants and 8,900,000 Private Placement Warrants. For the period from May 2, 2022 through December 31, 2022, 1,941,297 Public Warrants were exchanged for cash of $22,325, while for the year ended December 31, 2023 there were nominal exchanges. Warrants may only be exercised for a whole number of shares at a price of $11.50. No fractional shares will be issued upon exercise of the Warrants. The Warrants are currently exercisable and will expire five years from the date of the Transaction or earlier upon redemption or liquidation. Redemption of Warrants when the price per share of Class A common stock equals or exceeds $18.00 . The Company may redeem the outstanding Warrants (except as described with respect to the Private Placement Warrants): • in whole and not in part; • at a price of $0.01 per Warrant; • upon a minimum of 30 days’ prior written notice of redemption to each Warrant holder; and • if the closing price of the Class A common stock equals or exceeds $18.00 per share (as adjusted) for any 20 trading days within a 30-trading day period ending three trading days before the Company sends the notice of redemption to the Warrant holders. If and when the Warrants become redeemable by the Company, the Company may exercise its redemption right even if it is unable to register or qualify the underlying securities for sale under all applicable state securities laws. Redemption of Warrants when the price per share of Class A common stock equals or exceeds $10.00 . The Company may redeem the outstanding warrants: • in whole and not in part; • at $0.10 per Warrant upon a minimum of 30 days’ prior written notice of redemption provided that holders will be able to exercise their Warrants on a cashless basis prior to redemption and receive that number of shares determined based on the redemption date and the fair market value of the Class A common stock; • if, and only if, the closing price of the Class A common stock equals or exceeds $10.00 per public share (as adjusted) for any 20 trading days within the 30-trading day period ending three trading days before the Company sends the notice of redemption to the Warrant holders; and • if the closing price of the Class A common stock for any 20 trading days within a 30-trading day period ending on the third trading day prior to the date on which the Company sends the notice of redemption to the Warrant holders is less than $18.00 per share (as adjusted), the Private Placement Warrants must also be concurrently called for redemption on the same terms as the outstanding Public Warrants. If the Company calls the Public Warrants for redemption, as described above, the exercise price and number of ordinary shares issuable upon exercise of the Public Warrants may be adjusted in certain circumstances including in the event of a share dividend, extraordinary dividend or recapitalization, reorganization, merger or consolidation. Beginning on the 30th day following the Transaction, the Private Placement Warrants became almost identical to the Public Warrants sold in the Spring Valley Initial Public Offering. Additionally, the Private Placement Warrants are exercisable on a cashless basis and are non-redeemable, except as described above, so long as they are held by the initial purchasers or their permitted transferees. If the Private Placement Warrants are held by someone other than the initial purchasers or their permitted transferees, the Private Placement Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the Public Warrants.

Fair Value Measurement

Fair Value Measurement	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurement	Fair Value Measurement Our Warrants are accounted for as liabilities pursuant to ASC 815-40 and are measured at fair value as of each reporting period. Changes in fair value of the Warrants are recorded in the statement of operations each period. Due to the similarity of the features of the Public and Private Warrants, management has concluded that the price of the Public Warrants would be used in the valuation of the Private Placement Warrants. However, since the two types of Warrants are not identical and the Private Warrants are not actively traded, we have classified the Private Placement Warrants as Level 2, while the Public Warrants are classified as Level 1. The following table represents the Company’s financial liabilities measured at fair value on a recurring basis as of December 31, 2023 and 2022: (in thousands) Level 1 Level 2 Level 3 Total Warrant Liabilities: Public Warrants 2,963 — — 2,963 Private Placement Warrants — 2,759 — 2,759 Total Warrant Liabilities as of December 31, 2023 2,963 2,759 — 5,722 (in thousands) Level 1 Level 2 Level 3 Total Warrant Liabilities: Public Warrants 15,198 — — 15,198 Private Placement Warrants — 14,151 — 14,151 Total Warrant Liabilities as of December 31, 2022 15,198 14,151 — 29,349

Accounts and Other Receivables

Accounts and Other Receivables	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
Accounts and Other Receivables	Accounts and Other Receivables Accounts and other receivables include reimbursement requests outstanding from the sponsored cost share awards, interest receivable and commercial accounts receivable associated with other federal projects. The DOE reimbursement requests are recognized as eligible costs are incurred. Reimbursement under the awards is recognized as award funds are obligated, and are included in Sponsored cost share in the consolidated statement of operations. As of December 31, 2023 and 2022, interest receivable of $318 and $1,021, respectively, was outstanding. The majority of our receivables are either due from the U.S. federal government or have to do with a federal project. For these reasons, all receivables are deemed to be fully collectible and no allowance has been recorded.

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment consisted of the following at December 31: 2023 2022 Furniture and fixtures $ 27 $ 173 Office and computer equipment 7,274 7,393 Software 14,102 13,864 Test equipment 1,165 347 Leasehold improvements 2,293 2,312 24,861 24,089 Less: Accumulated depreciation (20,745) (19,431) Add: Assets under development — 112 Net property, plant and equipment $ 4,116 $ 4,770 Depreciation of property, plant and equipment for the years ended December 31, 2023, 2022 and 2021 was $2,380, $2,521 and $2,018, respectively. Depreciation in the amount of $520 and $1,860 is included in G&A expenses and Other expense, respectively, for the 2023 fiscal year, $770 and $1,751, respectively, for the 2022 fiscal year and $876 and $1,142, respectively, for the 2021 fiscal year.

DCRA, LLM Agreement and Release

DCRA, LLM Agreement and Release Agreement	12 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
DCRA, LLM Agreement and Release Agreement	DCRA, LLM Agreement and Release Agreement During the first quarter of 2023, we entered into the LLM Agreement with CFPP LLC. Related to this contract, the Company has subcontracted for the purchase of certain long-lead materials (“LLM”) in the amount of $55,700, that were to be used in fabrication of the NPMs as part of the DCRA with CFPP LLC. However, during the third quarter of 2023, management believed that it was probable that NuScale or CFPP LLC would terminate the DCRA and LLM Agreement. For this reason, the Company recorded a liability for net development costs, pursuant to the DCRA, in the amount of $34,500 as of September 30, 2023. Subsequently, on November 7 2023, NuScale and CFPP LLC entered into the Release Agreement whereby the DCRA and LLM Agreement would be suspended, while wind down procedures and the ultimate disposition of the long-lead materials would be negotiated between the Company, CFPP LLC and DOE. As part of the Release Agreement, NuScale was required to pay $49,769 to CFPP LLC and provide a letter of credit in the amount of $5,000 for demobilization and wind down costs. This letter of credit is collateralized by $5,100 and included in the accompanying consolidated balance sheet as Restricted cash. Upon final settlement of the LLM Agreement, we are entitled to the LLM purchased under the LLM Agreement. However, because the Company is still in discussion with DOE regarding the means and timing for lifting a DOE lien on the LLM (stemming from DOE’s funding under its cost share agreement with CFPP LLC), we may have to pay costs to DOE (in addition to the refund to CFPP LLC already paid) to obtain the LLM free of liens from DOE to use the LLM for a project at the CFPP site or for another customer. Until the Company formalizes an agreement with DOE and CFPP LLC regarding the LLM, there is no guarantee we will be able to use such materials in another project. Additionally, as a result of the Release Agreement and pending LLM termination, NuScale no longer has a revenue contract with CFPP, LLC. Due to this fact and due to the DOE lien, as of

Intangible Assets and Redeemabl

Intangible Assets and Redeemable Common Units	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Redeemable Common Units	Intangible Assets and Redeemable Common Units In 2007, NuScale LLC entered into a patent license agreement (the “Agreement”) with OSU, which granted NuScale LLC a worldwide, exclusive license under three patents. In 2015, NuScale LLC entered into a “Purchase, Sale and License Agreement” (“PLA”) with OSU, whereby OSU sold and assigned to NuScale LLC certain patent and intellectual property rights, including the patent intellectual property rights that OSU formerly exclusively and non-exclusively licensed to NuScale LLC under the Agreement; and granted NuScale LLC a license to use, reproduce, prepare derivative works of, distribute, transmit, publicly perform and publicly display the testing data. As consideration of this purchase, NuScale LLC issued a cash payment of $1,000 upon execution of the agreement as well as on-going $25 quarterly cash payments continuing until the earlier of (i) such time as NuScale LLC completes the sale of its first commercial-scale nuclear module (exclusive of modules designated to validate the operability of a NuScale module) to a commercial customer or (ii) expiration of the term of the last valid claim under the assigned patents to expire. Additionally, NuScale LLC will make royalty payments to OSU on the sale of NuScale LLC’s first and subsequent commercial-scale nuclear modules to a commercial customer as follows: • 0.25% of the then current commercial price paid to NuScale LLC for the first twenty-four (24) NuScale modules sold to commercial customers. • 0.15% of the then current commercial price paid to NuScale LLC for the next twelve (12) NuScale modules sold to commercial customers. Under the initial PLA, NuScale LLC granted OSU 2,750,000 NuScale LLC common units valued at a weighted average price per unit of $0.25 determined on their respective grant date. Additionally, under the updated agreement, NuScale LLC granted OSU 3,250,000 NuScale LLC common units valued at $0.45 per unit on the grant date, resulting (in addition to the cash payment of $1,000) in a value assigned to the patents of $2,462 which is being amortized on a straight-line basis over the remaining life of the patents which is estimated to be through 2034. The gross carrying amount of the patents, and the associated accumulated amortization was $2,462 and $1,580, respectively, at December 31, 2023 and $2,462 and $1,403, respectively, at December 31, 2022. Estimated amortization expense for each of the five succeeding years is expected to be $177 per year. Accordingly, as of December 31, 2021, the 6,000,000 NuScale LLC common units subject to possible redemption are presented as mezzanine equity, outside of Member’s Equity. Upon consummation of the Transaction, these 6,000,000 NuScale LLC common units were converted into NuScale Corp Class B common stock and are now included in consolidated statement of changes in stockholders’ equity. Commencing on the effective date of the Agreement and continuing until such time as NuScale LLC completes the sale of its first commercial-scale nuclear module to a commercial customer, OSU shall have the right, but not the obligation, to sell all of its then current common share holdings in NuScale Holdings and all of its then current common stock in NuScale Corp (collectively the “NuScale Shares”) to NuScale LLC if, but only if, the NRC issues a written determination that : (a) OSU’s ownership of the NuScale Shares creates a conflict of interest for OSU; and (b) OSU must divest the entirety of such NuScale Shares in order to continue performing work on NuScale LLC’s behalf for certification of the NuScale reactor design. In the event OSU exercises such option, the parties shall enter into a Share Purchase and Sale Agreement, in form and substance reasonably acceptable to each party, pursuant to which OSU would agree to sell and NuScale LLC would agree to purchase all of the NuScale Shares for a price equal to the then current market value of the NuScale Shares.

Leases

Leases	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Leases	Leases Balance Sheet As of December 31, Lease Assets and Liabilities Classification 2023 2022 Right-of-use Assets Operating lease assets Other assets $ 2,569 $ 3,870 Total right-of-use assets 2,569 3,870 Lease Liabilities Operating lease liabilities, current Other accrued liabilities 1,495 1,568 Operating lease liabilities, noncurrent Noncurrent liabilities 1,442 2,786 Total lease liabilities $ 2,937 $ 4,354 Supplemental information related to the Company’s leases follows: As of December 31, 2023 2022 Right-of-use assets obtained in exchange for new operating leases $ 153 $ — Weighted-average remaining lease term – operating leases 1.95 years 2.74 years Weighted average discount rate-operating leases 5.07 % 4.92 % The remaining lease payments under the Company’s leases follows: Year ended December 31, Operating Leases 2024 $ 1,604 2025 1,396 2026 79 Total lease payments $ 3,079 Less: interest (142) Present value of lease liabilities $ 2,937 Lease expense for the years ended December 31, 2023, 2022 and 2021 totaled $1,716, $2,063 and $1,695, respectively. Of these amounts $1,637, $1,851 and $1,505 consist of operating lease costs for the years ended December 31, 2023, 2022 and 2021 while $79, $212 and $190 account for short-term lease costs for the same time period.

Employee Benefits

Employee Benefits	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Employee Benefits	Employee Benefits 401(k) Plan The Company sponsors a defined contribution 401(k) Plan with Company contributions to be made at the sole discretion of the management. Under the provisions of the 401(k) Plan, the Company matches the employees’ contributions for the first 3% of compensation and matches 50% of the employees’ contributions for the next 2% of compensation. The expense for the 401(k) Plan was $2,691, $2,511 and $1,878 for 2023, 2022 and 2021, respectively.

Equity-Based Compensation

Equity-Based Compensation	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Equity-Based Compensation	Equity-Based Compensation The total compensation expense recognized for common share options and time-based RSU awards during the years ended December 31, 2023, 2022 and 2021 was $16,237, $10,821 and $6,441 respectively. For the year ended December 31, 2023, equity-based compensation of $6,509 was included in G&A expense and $9,728 was included in Other expense, compared to $5,197 and $5,624, respectively, for the year ended December 31, 2022, and $3,257 and $3,184, respectively, for the year ended December 31, 2021. Options to purchase common units of NuScale LLC under the Fourth Amended and Restated 2011 Equity Incentive Plan of NuScale LLC (the “Legacy Plan”) were granted, before completion of the Transaction, at an exercise price equal to the fair value of the NuScale LLC units at the date of grant. In connection with the Transaction, all outstanding options to purchase NuScale LLC units converted into options to purchase 14,742,933 shares of NuScale Corp Class A common stock with no change to the remaining vesting schedule. Shares underlying those options, and an additional 17,760,961 shares of Class A common stock issuable under the Company’s 2022 long-term incentive plan (“2022 LTIP”), were registered on a registration statement on Form S-8, filed with the SEC on July 5, 2022. Except with respect to equity awards outstanding as of the completion of the Transaction, the Legacy Plan terminated on May 2, 2022, and no further equity awards will be made, or have been made since, under the Legacy Plan. Unit options granted became exercisable 25% after one year of service and on a monthly basis over three years of service thereafter. In February 2014, the Board of Managers of NuScale LLC approved amendments to NuScale LLC’s “Amended and Restated Equity Incentive Plan” and unit option agreements. The amendments generally allowed terminated and retiring employees with over five years of service to NuScale LLC an extended period of time, up to the expiration of the option, during which to exercise their fully vested options when employment ceases. Under the Company’s 2022 LTIP there have been no options granted but there were RSU awards granted to the Board and NuScale employees. New Directors receive a one-time award that vests quarterly over one year, while independent Directors receive an annual award that vests quarterly over three years. Employee awards are granted annually, with each award vesting one-third annually for a period of three years from the date of the award. Effective January 1, 2023, the share pool was automatically increased by 8,972,128, which is the number of shares of Class A common stock equal to four percent (4%) of the aggregate number of shares of Class A common stock and Class B common stock outstanding on December 31, 2022, excluding any such outstanding shares of Class A common stock that were granted under the 2022 long-term incentive plan and remain unvested and subject to forfeiture as of December 31, 2022. The Company measures the fair value of each share option grant at the date of grant using a Black-Scholes option pricing model. Stock Options The following table summarizes the stock options activity as of and for the period ended December 31, 2023: Weighted Average Aggregate Share Options Number of Shares Exercise Price Intrinsic Value Outstanding at December 31, 2022 12,224,783 $ 4.09 $ 75,427 Exercised (2,416,987) $ 2.59 $ 11,986 Forfeited (198,853) $ 6.34 $ — Expired (43,732) $ 6.62 $ — Outstanding at December 31, 2023 9,565,211 $ 4.09 $ 307 Exercisable at December 31, 2023 9,209,328 $ 4.28 $ 307 Vested and Expected to Vest at December 31, 2023 9,565,211 $ 4.09 $ 307 The total fair value of options that vested during 2023, 2022 and 2021 was $3,213, $3,986 and $3,673, respectively. The weighted average remaining contractual term for all options outstanding at December 31, 2023 was 4.8 years and the remaining weighted average contractual term of options exercisable was 4.7 years. The weighted-average grant date fair value of options granted for the year ended December 31, 2022 was $6.29, while no options were granted during the year ended December 31, 2023. These awards were granted under the Legacy Plan and required their fair value be adjusted using the exchange ratio. Prior to the Transaction, the options had no intrinsic value. Cash received for the exercise of stock options for the years ended December 31, 2023 and 2022 totaled $6,291 and $7,224, respectively. Total unrecognized stock option expense as of December 31, 2023 was $1,757 with a weighted-average period over which it is expected to be recognized of 0.7 years. The assumptions used in determining the fair value of options granted during the years ended 2022 and 2021 are below, while no options were granted during the 2023 fiscal year: 2022 2021 Risk-free interest rate 1.44% 0.62%-1.31% Expected dividend yield NA NA Expected option life 6.25 years 6.25 years Expected price volatility 73.98% 64.6%-74.0% Time-based RSUs The following table summarizes the activity of our time-based RSUs as of and for the year ended, December 31, 2023: Weighted Average Time-based RSUs Number of RSUs Grant-Date Fair Value Outstanding at December 31, 2022 2,140,651 $ 10.71 Granted 2,319,818 9.62 Vested (773,994) 10.48 Forfeited/Expired (431,158) 10.59 Outstanding at December 31, 2023 3,255,317 $ 10.02 The fair value of the RSUs that vested in the 2023 fiscal year totaled $6,016, with only a nominal value in 2022 and no RSUs vesting in 2021. Total unrecognized RSU expense as of December 31, 2023 was $23,563 with a weighted-average period over which it is expected to be recognized of 1.0 years. In February 2024, under the Company’s 2022 long-term incentive plan, the Board of Directors approved 4,598,635 employee time-based RSU awards, with an aggregate fair value of $14,716, that vest one-third annually starting in February 2025 for a period of three years. Common Unit Appreciation Rights In 2013, NuScale LLC granted its Chief Executive Officer 1,000 common unit appreciation rights (“UARs”). The UARs vested one-third each year on the anniversary of the grant date. Upon exercise of a UAR, the holder would receive common units equal to the excess of the fair value of the common units over the strike price of $0.11 at the grant date multiplied by the number of rights exercised and divided by the fair value of the common unit upon exercise. In February 2022, the NuScale LLC Board of Managers approved a $1,540 cash payment (paid during the three months ended June 30, 2022) in lieu of equity issuance related to the UARs, which triggered recognition of $1,490 of equity-based compensation expense, included in G&A expenses.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes As of December 31, 2023, NuScale Corp holds 33.2% of the economic interest in NuScale Power, LLC, which is treated as a partnership for U.S. federal income tax purposes. As a partnership, NuScale Power, LLC is itself generally not subject to U.S. federal income tax under current U.S. tax laws as its net taxable income (loss) and any related tax credits are passed through to its members and included in their tax returns, even though such net taxable income (loss) or tax credits may not have actually been distributed. NuScale Power Corp is subject to U.S. federal income taxes, in addition to state and local income taxes, with respect to its distributive share of the net taxable income (loss) and any related tax credits of NuScale Power, LLC. For the days and periods prior to the Transaction, NuScale Power, LLC was a partnership. As such, its net taxable loss and any related tax credits were allocated to its members. The Company had no current or deferred income tax expense for the years ended December 31, 2023 and 2022. A reconciliation of income tax expense with amounts computed at the federal statutory tax rate is as follows: Year Ended December 31, 2023 Year Ended December 31, 2022 Computed tax (21%) $ (37,824) $ (29,730) Income attributable to legacy NuScale LLC holders $ — $ 6,543 Income tax benefit attributable to NCI $ 25,568 $ 17,746 Change in valuation allowance $ 20,048 $ 9,227 State income tax benefit, net of effect on federal tax $ (2,831) $ (1,235) Other, net (none in excess of 5% of computed tax) $ (4,961) $ (2,551) Income tax expense $ — $ — Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Non-current deferred tax assets (liabilities) were as follows: Deferred Taxes Year Ended December 31, 2023 Year Ended December 31, 2022 Deferred Tax Assets: Investment in NuScale Power LLC $ 142,472 $ 122,982 Net operating loss and credit carryforwards $ 11,919 $ 3,577 Accrued Expenses $ 62 $ — Stock Compensation $ 7 $ 95 Total deferred tax assets $ 154,460 $ 126,654 Valuation allowance $ (154,460) $ (126,654) Total $ — $ — Deferred Tax Liabilities (none noted) Net deferred tax asset $ — $ — The Company has assessed the realizability of the net deferred tax assets, and in that analysis, has considered the relevant positive and negative evidence available to determine whether it is more likely than not that some portion or all of the deferred tax assets will be realized. In making such a determination, the Company considered all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies, and recent results of operations. A significant piece of objective negative evidence evaluated was the cumulative loss incurred by NuScale Power, LLC over the three year period ended December 31, 2022. Such objective evidence limits the ability to consider other subjective evidence, such as projections for future growth. After consideration of all these factors, the Company has recorded a full valuation allowance against the deferred tax assets at NuScale Power Corp as of the Transaction and as of December 31, 2023, which will be maintained until there is sufficient evidence to support the reversal of all or some portion of these allowances. The initial recognition of the Company’s deferred tax assets and valuation allowance in connection with the Transaction was recorded to “Additional paid-in capital” on the consolidated balance sheet. As noted above, the valuation allowance completely offset the deferred tax assets of NuScale Power Corp, which resulted in a net zero impact to the Company’s consolidated balance sheet as of the Transaction. As of December 31, 2023, the Company had U.S. federal net operating loss (“NOL”) and credit carryforwards totaling $10,236, which do not expire, as well as state NOL carryforwards totaling $1,683, which have various expiration dates extending through 2042. The Company recognizes the financial statement effects of uncertain income tax positions when it is more likely than not, based on the technical merits, that the position will be sustained upon examination. To the extent the Company’s assessment of such tax positions changes, the change in estimate will be recorded in the period in which the determination is made. As of December 31, 2023, the Company has not recorded any uncertain tax positions, as well as any accrued interest and penalties on the consolidated balance sheet. During the year ended December 31, 2023, the Company did not record any interest and penalties in the consolidated statements of operations. The Company’s income tax filings will be subject to audit by various taxing jurisdictions. The Company will monitor the status of U.S. federal, state and local income tax returns that may be subject to audit in future periods. No U.S. federal, state, and local income tax returns are currently under examination by the respective taxing authorities.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions From time to time, the Company enters into strategic agreements with Fluor, whereby Fluor or NuScale perform services for one another. For the years ended December 31, 2023, 2022 and 2021 , NuScale incurred expenses for services by Fluor of $32,875, $31,289 and $18,113, respectively. As of December 31, 2023 and 2022 , NuScale owed Fluor, as accounts payable and accrued expenses on the consolidated balance sheet, amounts totaling $4,080 and $7,694, respectively. For the years ended December 31, 2023, 2022 and 2021 , NuScale earned revenue from Fluor of $16,897, $8,550 and $1,553, respectively. As of December 31, 2023 and 2022 Fluor owes NuScale $2,642 and $1,508, respectively, amounts which are included in accounts and other receivables on the consolidated balance sheet. For the years ended December 31, 2023 and

Commitment and Contingencies

Commitment and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies In the regular course of business, the Company is involved in various legal proceedings and claims incidental to the normal course of business. Other than as disclosed immediately below, the Company does not believe that any legal claims are material to the Company. Management does not believe that resolution of any of these matters will materially affect the Company’s financial position or results of operations. On September 19, 2022, thirteen purported members of NuScale LLC filed suit in the U.S. District Court for the District of Oregon against NuScale LLC, Fluor Enterprises, Japan NuScale Innovation, Inc., and Sargent & Lundy Holdings, LLC. The plaintiffs purport to represent a class of individuals who held common units or options to purchase common units in NuScale LLC and seek declaratory relief and damages based on breach of contract and other common law claims. The claims in the complaint are based on amendments to the operating agreement of NuScale LLC in connection with the Merger between NuScale LLC and Spring Valley Acquisition Corp. NuScale LLC filed a motion to dismiss the complaint on November 21, 2022. Plaintiffs filed a response on January 17, 2023, and NuScale LLC filed a reply on February 14, 2023. A hearing on various motions to dismiss took place on May 17, 2023, and on August 3, 2023, the Magistrate Judge assigned to the case issued a report and recommendation that recommended that NuScale LLC’s motion to dismiss be denied. On August 17, 2023, NuScale LLC filed an objection to the report and recommendation. On November 13, 2023, the District Court Judge entered an order accepting the report and recommendation. On December 8, 2023, Plaintiffs filed a motion for leave to amend their complaint, seeking to add back in the defendants that were dismissed (Fluor Enterprises, Japan NuScale Innovation, Inc., and Sargent & Lundy Holdings, LLC). NuScale LLC and the other defendants opposed the proposed amendment. While no assurance can be given as to the ultimate outcome of this matter, the Company does not believe it is probable that a loss will be incurred and the Company has not recorded any liability as a result of these actions. Two other shareholder class action lawsuits were filed in the U.S. District Court for the District of Oregon against the Company, John Hopkins, Chris Colbert, Robert Hamady and Clayton Scott: (1) Sigman v. NuScale Power Corp., et al. (Case No. 23-1689, filed November 15, 2023), and (2) Ryckewaert v. NuScale Power Corp., et al. (Case No. 23-1956, filed December 26, 2023). These lawsuits assert virtually identical allegations and claims and were consolidated before the same judge on February 2, 2024. The lawsuits assert claims under the federal securities laws and allege that the Company and members of management made materially false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations and prospects, and specifically about certain of the Company’s agreements with customers. The Court has appointed lead plaintiff and lead counsel, and it has ordered the plaintiffs to file an amended complaint on or before March 21, 2024 and for NuScale to respond 28 days thereafter. While no assurance can be given as to the ultimate outcome of this matter, the Company does not believe it is probable that a loss will be incurred and the Company has not recorded any liability as a result of these actions.In the regular course of business, the Company is involved in various legal proceedings and claims incidental to the normal course of business. Other than as disclosed immediately below, the Company does not believe that any legal claims are material to the Company. Management does not believe that resolution of any of these matters will materially affect the Company’s financial position or results of operations. On September 19, 2022, thirteen purported members of NuScale LLC filed suit in the U.S. District Court for the District of Oregon against NuScale LLC, Fluor Enterprises, Japan NuScale Innovation, Inc., and Sargent & Lundy Holdings, LLC. The plaintiffs purport to represent a class of individuals who held common units or options to purchase common units in NuScale LLC and seek declaratory relief and damages based on breach of contract and other common law claims. The claims in the complaint are based on amendments to the operating agreement of NuScale LLC in connection with the Merger between NuScale LLC and Spring Valley Acquisition Corp. NuScale LLC filed a motion to dismiss the complaint on November 21, 2022. Plaintiffs filed a response on January 17, 2023, and NuScale LLC filed a reply on February 14, 2023. A hearing on various motions to dismiss took place on May 17, 2023, and on August 3, 2023, the Magistrate Judge assigned to the case issued a report and recommendation that recommended that NuScale LLC’s motion to dismiss be denied. On August 17, 2023, NuScale LLC filed an objection to the report and recommendation. On November 13, 2023, the District Court Judge entered an order accepting the report and recommendation. On December 8, 2023, Plaintiffs filed a motion for leave to amend their complaint, seeking to add back in the defendants that were dismissed (Fluor Enterprises, Japan NuScale Innovation, Inc., and Sargent & Lundy Holdings, LLC). NuScale LLC and the other defendants opposed the proposed amendment. While no assurance can be given as to the ultimate outcome of this matter, the Company does not believe it is probable that a loss will be incurred and the Company has not recorded any liability as a result of these actions. Two other shareholder class action lawsuits were filed in the U.S. District Court for the District of Oregon against the Company, John Hopkins, Chris Colbert, Robert Hamady and Clayton Scott: (1) Sigman v. NuScale Power Corp., et al. (Case No. 23-1689, filed November 15, 2023), and (2) Ryckewaert v. NuScale Power Corp., et al. (Case No. 23-1956, filed December 26, 2023). These lawsuits assert virtually identical allegations and claims and were consolidated before the same judge on February 2, 2024. The lawsuits assert claims under the federal securities laws and allege that the Company and members of management made materially false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations and prospects, and specifically about certain of the Company’s agreements with customers. The Court has appointed lead plaintiff and lead counsel, and it has ordered the plaintiffs to file an amended complaint on or before March 21, 2024 and for NuScale to respond 28 days thereafter. While no assurance can be given as to the ultimate outcome of this matter, the Company does not believe it is probable that a loss will be incurred and the Company has not recorded any liability as a result of these actions.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsOn January 5, 2024, NuScale announced the Plan to reduce the Company’s workforce by 154 full time employees, or 28%, in order to continue our transition from a R&D-based company to a commercial company. This will result in a one-time charge of approximately $3,000 during the first quarter of 2024.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net Income (Loss)	$ (58,362)	$ (25,914)	$ (102,493)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	During the three months ended December 31, 2023, one former officer of the Company, Julie Adelman, adopted a 10b5-1 plan on November 21, 2023, while one current officer of the Company, Karin Feldman, terminated a 10b5-1 plan on December 31, 2023.
Non-Rule 10b5-1 Arrangement Terminated	false
Julie Adelman [Member]
Trading Arrangements, by Individual
Name	Julie Adelman
Title	one former officer
Rule 10b5-1 Arrangement Adopted	true
Non-Rule 10b5-1 Arrangement Adopted	false
Adoption Date	November 21, 2023
Karin Feldman [Member]
Trading Arrangements, by Individual
Name	Karin Feldman
Title	one current officer
Rule 10b5-1 Arrangement Terminated	true
Termination Date	December 31, 2023

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of Consolidation	Principles of Consolidation
Changes in Presentation	Changes in Presentation For the year ended December 31, 2022, sponsored cost share totaling $177 that was previously included in Interest income (expense) has been reclassified to Sponsored cost share to conform to the current year presentation on the accompanying consolidated statements of operations. No such reclassifications were required for the other years. For the year ended December 31, 2022
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make certain estimates, judgments and assumptions. NuScale believes that the estimates, judgments and assumptions made when accounting for items and matters such as, but not limited to, depreciation, amortization, in-process research and development (“IPR&D”), asset valuations, equity-based compensation and contingencies are reasonable, based on information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities as of the date of the financial statements, as well as amounts reported on the statements of operations during the periods presented. Actual results could differ from those estimates.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash Cash equivalents represent short-term, highly liquid investments, which are readily convertible to cash and have maturities of three months or less at time of purchase. Cash equivalents with an initial maturity of between three and twelve months at time of purchase are presented as short-term investments on the accompanying consolidated balance sheet. Cash equivalents and short-term investments consist of certificates of deposit. These certificates of deposit are classified as held-to-maturity, and the estimated fair value of the investment approximates its amortized cost.
Accounts and Other Receivables	Accounts and Other Receivables Accounts and other receivables include reimbursement requests outstanding from cost share agreements with various entities, interest receivable and commercial accounts receivable associated with other federal projects. The reimbursement requests outstanding from DOE awards are recognized as eligible costs are incurred. Reimbursement under the awards are included in Sponsored cost share in the consolidated statements of operations. The majority of our receivables are either due from the U.S. federal government or have to do with a federal project. For these reasons, all receivables are deemed to be fully collectible and no allowance has been recorded.
In-process Research and Development	In-process Research and Development IPR&D represents incomplete research and development projects that had not reached technological feasibility as of their acquisition date in 2011. Due to the nature of IPR&D, the expected life is indefinite and it will be evaluated periodically for attainment of technological feasibility or impairment. Technological feasibility is established when an enterprise has completed all planning, designing, coding and testing activities that are necessary to establish that a product can be produced to meet its design specifications including functions, features and technical performance requirements. IPR&D was concluded to include both fundamental and defensive technologies comprised of OSU-licensed and NuScale-owned patented and unpatented technology and trade secrets. Such technologies are designed to work together in the operation of a nuclear power module. IPR&D is amortized over its estimated useful life once technological feasibility is reached. As the Company has not yet completed all designing, coding and testing activities, management has determined that technological feasibility has not yet been reached. Management has not identified any indicators that would suggest any impairment of the IPR&D. If IPR&D is determined not to have technological feasibility or is abandoned, it will be impaired or written off at such time.
Revenue Recognition	Revenue Recognition In addition to advancing the commercialization of its SMR, the Company provides engineering services to customers. The Company recognizes fixed price contract revenue with multiple performance obligations as each obligation is completed. The Company allocates the transaction price to each performance obligation using an estimate of the stand-alone selling price of each distinct service in the contract. Revenue recognized on contracts that has not been billed to customers is classified as a current asset under Accounts and other receivables on the consolidated balance sheet. Amounts billed to clients in excess of revenue recognized are classified as a current liability under Deferred revenue. The Company recognizes time and material contract revenue as incurred, while our cost plus fixed-fee contract revenue is recognized over time, matching continuous transfer of control to the customer. The Company accounts for these contracts as a single performance obligation and recognizes revenue using the percentage-of-completion method, based primarily on contract cost incurred to date compared to total estimated contract cost. The percentage-of-completion method (an input method) is the most faithful depiction of the Company’s performance because it directly measures the value of the services transferred to the customer. Changes to total estimated contract cost or losses, if any, are recognized in the period in which they are determined as assessed at the contract level. Pre-contract costs are expensed as incurred unless they are expected to be recovered from the client. The Company excludes from its measurement of transaction prices all taxes assessed by governmental authorities that are both (i) imposed on and concurrent with a specific revenue-producing transaction and (ii) collected from customers. Accordingly, such tax amounts are not included as a component of revenue or cost of sales. Customer payments on contracts are typically due within 30 days of billing, depending on the contract. The Company generally provides limited warranties for work performed under its engineering contracts. The warranty periods typically extend for a limited duration following substantial completion of the Company’s work on a project. Historically, warranty claims have not resulted in material costs incurred, and for the periods presented, no warranty liability has been recorded.
Sponsored Cost Share	Sponsored Cost Share As our commercialization activities advance, we have continued to enter into cost share agreements with various entities, including both governmental and private, under which the Company is reimbursed for specific R&D activities. As of December 31, 2023
Fair Value Measurement	Fair Value Measurement The Company measures certain financial assets and liabilities at fair value. Fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the Company uses a three-level hierarchy, which prioritizes fair value measurements based on the types of inputs used for the various valuation techniques (market approach, income approach and cost approach). The levels of hierarchy are described below: Level 1 Quoted prices in active markets for identical instruments; Level 2 Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets; and Level 3 Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Financial assets and liabilities are classified in their entirety based on the most stringent level of input that is significant to the fair value measurement. The carrying amount of certain financial instruments, including prepaid expenses and deposits, accounts payable and accrued expenses approximates fair value due to their short maturities.
Property, Plant and Equipment	Property, Plant and Equipment All additions, including betterments to existing facilities, are recorded at cost. Maintenance and repairs are charged to expense as incurred. When assets are retired or otherwise disposed of, the cost of the assets and the related accumulated depreciation is derecognized with any gain or loss recorded in the year of disposition. Depreciation is based on the estimated useful lives of the assets using the straight-line method. Furniture and fixtures are depreciated over useful lives of seven years. Computer software is depreciated over useful lives of three
Long-Lived Assets	Long-Lived Assets Long-lived assets including primarily property and equipment and acquired IPR&D are reviewed for impairment annually and when events or changes in circumstances indicate that the carrying amount of assets may not be recoverable. If this
Goodwill	Goodwill Goodwill is the excess of the purchase price paid over the fair value of the net assets of a business acquired in a purchase business combination. Goodwill is not amortized but is reviewed for impairment annually or whenever events or changes in circumstances arise during the year that indicate the carrying amount of goodwill may not be recoverable. Impairment exists when the carrying amount of the reporting unit exceeds its fair value and an impairment loss is recognized.
Leases	Leases The Company recognizes right-of-use assets and lease liabilities for leases with terms greater than 12 months. Leases are classified as either finance or operating leases. This classification dictates whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. As of December 31, 2023 and 2022, the Company has only operating leases. The Company’s right-of-use assets relate to office facilities, some of which include one or more options to renew, with renewal terms that can extend the lease term up to 4 years. The exercise of the lease renewal is at the Company’s discretion. Renewal periods are included in the expected lease term if they are reasonably certain of being exercised by the Company. None of the Company’s lease agreements contain material residual value guarantees or material restrictions or covenants. Long-term leases (leases with initial terms greater than 12 months) are capitalized at the present value of the minimum lease payments not yet paid. The Company uses its incremental borrowing rate to determine the present value of the lease when the rate implicit in the lease is not readily determinable. Short-term leases (leases with an initial term of 12 months or less or leases that are cancelable by the lessee and lessor without significant penalties) are not capitalized but are expensed on a straight-line basis over the lease term. The Company’s short-term leases relate to office facilities or office equipment.
Warrant Liability	Warrant Liability
Equity-Based Compensation	Equity-Based Compensation Our long-term incentive plan provides for grants of nonqualified or incentive stock options, restricted stock award units (“RSU”s) and performance-based award units. Equity-based compensation is measured using a fair value-based method for all equity-based awards. The cost of awarded equity instruments is recognized based on each instrument’s grant-date fair value over the period during which the grantee is required to provide service in exchange for the award. The determination of fair value for nonqualified or incentive stock options requires significant judgment and the use of estimates, particularly with regard to Black-Scholes assumptions such as stock price, volatility and expected option lives to value equity-based compensation, while forfeitures are recognized as incurred. The grant date fair value of RSUs is based on the closing market price of our Class A common stock on the grant date as stated on the NYSE. The option valuation model used to calculate the Company’s options uses the treasury yield curve rates for the risk-free interest rate for a period equal to the expected option life and the simplified method to calculate the expected option life (options qualified as ‘plain vanilla’ under the provisions of Staff Accounting Bulletin 107). Volatility is determined by reference to the actual volatility of several publicly traded companies that are similar to NuScale in its industry sector. The Company does not anticipate paying any cash dividends in the foreseeable future and therefore uses an expected dividend yield of zero in the option valuation model. Forfeitures are recognized as they occur. All equity-based payment awards are amortized on a straight-line basis over the requisite service periods of the awards. Equity-based compensation is recorded as a general and administrative expense and other expense in the statements of operations.
Segment Information	Segment Information The Company has determined that its Chief Executive Officer (“CEO”), Chief Operating Officer (“COO”) and Chief Financial Officer (“CFO”) are its chief operating decision makers. These individuals review financial information presented for purposes of assessing performance and making decisions on how to allocate resources at the overall company level. The Company has determined that it currently operates as a single segment, though it will periodically revisit the information used by its chief operating decision makers to allocate resources and to manage the operations as it nears commercialization and deployment of its NPMs.
Research and Development	Research and Development R&D expenses represent costs incurred for designing and engineering products, including the costs of developing design tools. All research and development costs related to product development are expensed as incurred.
Advertising	Advertising
Income Taxes	Income Taxes NuScale Corp accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that the deferred tax assets will be realized. Deferred tax assets and liabilities are calculated by applying existing tax laws and the rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in the year of the enacted rate change. The Company accounts for uncertainty in income taxes using a recognition and measurement threshold for tax positions taken or expected to be taken in a tax return, which are subject to examination by federal and state taxing authorities. The tax benefit from an uncertain tax position is recognized when it is more likely than not that the position will be sustained upon examination by taxing authorities based on technical merits of the position. The amount of the tax benefit recognized is the largest amount of the benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The effective tax rate and the tax basis of assets and liabilities reflect management’s estimates of the ultimate outcome of various tax uncertainties. Once identified, the Company will recognize penalties and interest related to uncertain tax positions within the provision (benefit) for income taxes line in the accompanying consolidated statements of operations. NuScale LLC is a limited liability company treated as a partnership for U.S. federal income tax purposes that is not subject to U.S. federal income tax. As such, its net taxable income or loss and any related tax credits are allocated to its members.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company considers the applicability and impact of all Accounting Standards Updates (“ASU”) issued by the Financial Accounting Standards Board (“FASB”). In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280) : Improvements to Reportable Segment Disclosures which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 is effective for our annual periods beginning January 1, 2024, and for interim periods beginning January 1, 2025, with early adoption permitted. The adoption of this standard is not expected to have a material impact on the Company’s financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) : Improvements to Income Tax Disclosures, to enhance the transparency and decision usefulness of income tax disclosures. ASU 2023-09 is effective for annual periods beginning after December 15, 2024 on a prospective basis and early adoption is permitted. The Company is currently evaluating the impact of the adoption of this standard.

Equity and Loss Per Share (Tabl

Equity and Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2023
Noncontrolling Interest And Earnings Per Share [Abstract]
Schedule of Non-Controlling Interests	Following the Transaction, holders of Class A common stock own direct controlling interest in the results of the combined entity, while the Legacy NuScale Equityholders own an economic interest in NuScale LLC, shown as noncontrolling interests (“NCI”) in equity in NuScale Corp’s consolidated financial statements. The indirect economic interests are held by Legacy NuScale Equityholders in the form of NuScale LLC Class B units. The following table summarizes the economic interests of NuScale Corp between the holders of Class A common stock and indirect economic interests held by NuScale LLC Class B unitholders: As of and for the year ended December 31, 2023 As of and for the period from May 2, 2022 through December 31, 2022 NuScale Corp Class A common stock Beginning of period 69,353,019 41,971,380 Conversion of combined interests into Class A common stock 2,613,788 21,305,891 Issuance of Class A common stock 1,737,378 — Vesting or exercise of equity awards 3,190,981 4,431,824 Vesting of earn out shares — 1,643,924 End of period 76,895,166 69,353,019 NuScale LLC Class B units (NCI) Beginning of period 157,090,820 178,396,711 Conversion of combined interests into Class A common stock (2,613,788) (21,305,891) End of period 154,477,032 157,090,820 Total Beginning of period 226,443,839 220,368,091 Issuance of Class A common stock 1,737,378 — Vesting or exercise of equity awards 3,190,981 4,431,824 Vesting of earn out shares — 1,643,924 End of period 231,372,198 226,443,839
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the computation of basic and diluted net loss per share of Class A common stock and represents the period where the Company had Class A and Class B common stock outstanding. Class B common stock represents a right to cast one vote per share at the NuScale Corp level, and carry no economic rights, including rights to dividends or distributions upon liquidation, and as a result, is not considered a participating security for basic and diluted loss per share. As such, basic and diluted loss per share of Class B common stock has not been presented. As of and for the year ended December 31, 2023 As of and for the period from May 2, 2022 through December 31, 2022 Net loss attributable to Class A common stockholders $ (58,362) $ (25,914) Weighted-average shares for basic and diluted loss per share 73,386,018 50,763,844 Basic and Diluted loss per share of Class A common stock $ (0.80) $ (0.51) Anti-dilutive securities excluded from shares outstanding: Class B common shares 154,477,032 157,090,820 Stock options 9,565,211 12,224,783 Warrants 18,458,701 18,458,703 Time-based RSUs 3,255,317 2,140,651 Total 185,756,261 189,914,957

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value, Liabilities Measured on Recurring Basis	The following table represents the Company’s financial liabilities measured at fair value on a recurring basis as of December 31, 2023 and 2022: (in thousands) Level 1 Level 2 Level 3 Total Warrant Liabilities: Public Warrants 2,963 — — 2,963 Private Placement Warrants — 2,759 — 2,759 Total Warrant Liabilities as of December 31, 2023 2,963 2,759 — 5,722 (in thousands) Level 1 Level 2 Level 3 Total Warrant Liabilities: Public Warrants 15,198 — — 15,198 Private Placement Warrants — 14,151 — 14,151 Total Warrant Liabilities as of December 31, 2022 15,198 14,151 — 29,349

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, plant and equipment consisted of the following at December 31: 2023 2022 Furniture and fixtures $ 27 $ 173 Office and computer equipment 7,274 7,393 Software 14,102 13,864 Test equipment 1,165 347 Leasehold improvements 2,293 2,312 24,861 24,089 Less: Accumulated depreciation (20,745) (19,431) Add: Assets under development — 112 Net property, plant and equipment $ 4,116 $ 4,770

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Assets And Liabilities, Lessee	Balance Sheet As of December 31, Lease Assets and Liabilities Classification 2023 2022 Right-of-use Assets Operating lease assets Other assets $ 2,569 $ 3,870 Total right-of-use assets 2,569 3,870 Lease Liabilities Operating lease liabilities, current Other accrued liabilities 1,495 1,568 Operating lease liabilities, noncurrent Noncurrent liabilities 1,442 2,786 Total lease liabilities $ 2,937 $ 4,354
Supplemental Lease Information	Supplemental information related to the Company’s leases follows: As of December 31, 2023 2022 Right-of-use assets obtained in exchange for new operating leases $ 153 $ — Weighted-average remaining lease term – operating leases 1.95 years 2.74 years Weighted average discount rate-operating leases 5.07 % 4.92 %
Lessee, Operating Lease, Liability, Maturity	The remaining lease payments under the Company’s leases follows: Year ended December 31, Operating Leases 2024 $ 1,604 2025 1,396 2026 79 Total lease payments $ 3,079 Less: interest (142) Present value of lease liabilities $ 2,937

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Share-Based Payment Arrangement, Option, Activity	The following table summarizes the stock options activity as of and for the period ended December 31, 2023: Weighted Average Aggregate Share Options Number of Shares Exercise Price Intrinsic Value Outstanding at December 31, 2022 12,224,783 $ 4.09 $ 75,427 Exercised (2,416,987) $ 2.59 $ 11,986 Forfeited (198,853) $ 6.34 $ — Expired (43,732) $ 6.62 $ — Outstanding at December 31, 2023 9,565,211 $ 4.09 $ 307 Exercisable at December 31, 2023 9,209,328 $ 4.28 $ 307 Vested and Expected to Vest at December 31, 2023 9,565,211 $ 4.09 $ 307
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions	The assumptions used in determining the fair value of options granted during the years ended 2022 and 2021 are below, while no options were granted during the 2023 fiscal year: 2022 2021 Risk-free interest rate 1.44% 0.62%-1.31% Expected dividend yield NA NA Expected option life 6.25 years 6.25 years Expected price volatility 73.98% 64.6%-74.0%
Schedule of Time-based Restricted Stock Units	The following table summarizes the activity of our time-based RSUs as of and for the year ended, December 31, 2023: Weighted Average Time-based RSUs Number of RSUs Grant-Date Fair Value Outstanding at December 31, 2022 2,140,651 $ 10.71 Granted 2,319,818 9.62 Vested (773,994) 10.48 Forfeited/Expired (431,158) 10.59 Outstanding at December 31, 2023 3,255,317 $ 10.02

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	A reconciliation of income tax expense with amounts computed at the federal statutory tax rate is as follows: Year Ended December 31, 2023 Year Ended December 31, 2022 Computed tax (21%) $ (37,824) $ (29,730) Income attributable to legacy NuScale LLC holders $ — $ 6,543 Income tax benefit attributable to NCI $ 25,568 $ 17,746 Change in valuation allowance $ 20,048 $ 9,227 State income tax benefit, net of effect on federal tax $ (2,831) $ (1,235) Other, net (none in excess of 5% of computed tax) $ (4,961) $ (2,551) Income tax expense $ — $ —
Schedule of Deferred Tax Assets and Liabilities	Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Non-current deferred tax assets (liabilities) were as follows: Deferred Taxes Year Ended December 31, 2023 Year Ended December 31, 2022 Deferred Tax Assets: Investment in NuScale Power LLC $ 142,472 $ 122,982 Net operating loss and credit carryforwards $ 11,919 $ 3,577 Accrued Expenses $ 62 $ — Stock Compensation $ 7 $ 95 Total deferred tax assets $ 154,460 $ 126,654 Valuation allowance $ (154,460) $ (126,654) Total $ — $ — Deferred Tax Liabilities (none noted) Net deferred tax asset $ — $ —

The Company (Details)

The Company (Details) $ in Thousands	1 Months Ended		12 Months Ended
	Feb. 29, 2020 USD ($)	Apr. 30, 2015 USD ($) MW-M	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jan. 31, 2019 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Collaborative arrangement, obligated amount to receivable			$ 262,656
Collaborative arrangement, obligated amount			260,709
Cash and cash equivalents			120,265	$ 217,685
Restricted cash			5,100	26,532
Accumulated deficit			240,454	182,092
Net cash used in operating activities			$ 183,254	$ 148,609	$ 99,162
Nuscale SMR FOAK Nuclear Demonstration Readiness Project Completion
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum amount awarded	$ 350,000
Cost share	$ 350
Cost share (as a percent)	50%
Nuscale SMR FOAK Nuclear Demonstration Readiness Project Completion | Government
Accounts, Notes, Loans and Financing Receivable [Line Items]
Cost share	$ 350
Cost share (as a percent)	50%
Carbon Free Power Project Award
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum amount awarded						$ 126,694
Cost share		$ 16,617
Cost share (as a percent)		50%				50%
Collaborative arrangement, government cost share		$ 8,250
Eligible amount to receive					7,521
Carbon Free Power Project Award | Government
Accounts, Notes, Loans and Financing Receivable [Line Items]
Cost share		$ 16,617
Cost share (as a percent)		50%				50%
Nuclear powered energy | MW-M		462
Collaborative arrangement, government cost share		$ 8,250
Collaborative arrangement, remaining amount received					$ 729

Merger Transaction - Narrative

Merger Transaction - Narrative (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 $ / shares	May 02, 2022 USD ($)
Business Acquisition [Line Items]
Right to cancel stock, ratio	1
Recapitalization exchange ratio	1
Sale of stock, number of shares issued in transaction (in shares) | shares	23,700,002
Sale of stock, consideration received on transaction	$ 235,000
Net cash tax savings from certain tax benefits percentage				85%
Net cash tax savings from remaining tax benefits percentage				15%
Spring Valley
Business Acquisition [Line Items]
Cash				$ 341,500
Warrant liabilities				$ 47,500
Class B
Business Acquisition [Line Items]
Common stock, par value (usd per share) | $ / shares	$ 0.0001	$ 0.0001	$ 0.0001
Class A
Business Acquisition [Line Items]
Common stock, par value (usd per share) | $ / shares	$ 0.0001	$ 0.0001	$ 0.0001
Class B Units
Business Acquisition [Line Items]
Number of units exchanged for common stock (in shares) | shares		23,919,679
Tax receivable agreement, obligation from Class B Units exchange		$ 60,347

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) extension	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Significant Accounting Policies [Line Items]
Interest income (expense) reclassified amount	$ (10,792,000)	$ (3,760,000)	$ 1,715,000
Research and development expenses	156,050,000	127,662,000	94,388,000
Other expenses	57,960,000	51,513,000	42,279,000
Restricted cash, current	5,100,000	0
Restricted cash	0	26,532,000
Prepaid and other assets noncurrent portion	$ 15,000,000
Customer payment period	30 days
Property, plant and equipment, useful life	5 years
Impairment charges	$ 0	0	0
Number of extensions | extension	1
Length of extension (up to)	4 years
Equity-based compensation, fair value assumptions, expected dividend rate	0%
Advertising costs	$ 14,617,000	7,340,000	2,600,000
DOE
Significant Accounting Policies [Line Items]
Collaborative arrangement, cost share	29,320,000	72,337,000	73,522,000
United State Trade and Development Agency
Significant Accounting Policies [Line Items]
Collaborative arrangement, cost share	23,828,000	177,000	0
CFPP LLC
Significant Accounting Policies [Line Items]
Collaborative arrangement, cost share	$ 7,883,000	0
Furniture and fixtures
Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life	7 years
Office and computer equipment
Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life	5 years
Revision of Prior Period, Reclassification, Adjustment
Significant Accounting Policies [Line Items]
Collaborative arrangement, cost share		177,000
Interest income (expense) reclassified amount		177,000
Research and development expenses		4,246,000	1,252,000
Other expenses		$ 3,504,000	$ 5,249,000
Minimum | Software
Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life	3 years
Maximum | Software
Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life	5 years

Equity and Loss Per Share - Sch

Equity and Loss Per Share - Schedule of Non-Controlling Interests (Details) - shares	8 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2023
Noncontrolling Interest [Roll Forward]
Beginning of period (shares)	220,368,091	226,443,839
Issuance of Class A common stock (shares)	0	1,737,378
Vesting or exercise of equity awards (shares)	4,431,824	3,190,981
Vesting of earn out shares (shares)	1,643,924	0
End of period (shares)	226,443,839	231,372,198
Class A
Noncontrolling Interest [Roll Forward]
Beginning of period (shares)	41,971,380	69,353,019
Conversion of combined interests into Class A common stock (in shares)	21,305,891	2,613,788
Vesting or exercise of equity awards (shares)	4,431,824	3,190,981
Vesting of earn out shares (shares)	1,643,924	0
End of period (shares)	69,353,019	76,895,166
Class A | NuScale Corp
Noncontrolling Interest [Roll Forward]
Issuance of Class A common stock (shares)	0	1,737,378
Controlling and Non Controlling Interest [Roll Forward]
Beginning of period	19%	30.60%
End of period	30.60%	33.20%
Class B
Noncontrolling Interest [Roll Forward]
Beginning of period (shares)	178,396,711	157,090,820
Conversion of combined interests into Class A common stock (in shares)	(21,305,891)	(2,613,788)
End of period (shares)	157,090,820	154,477,032
Class B | NuScale LLC
Controlling and Non Controlling Interest [Roll Forward]
Beginning of period	81%	69.40%
End of period	69.40%	66.80%

Equity and Loss Per Share - Nar

Equity and Loss Per Share - Narrative (Details) $ in Thousands		2 Months Ended	12 Months Ended
	Aug. 09, 2023 USD ($)	Mar. 15, 2024 USD ($) shares	Dec. 31, 2023 USD ($) vote shares	Dec. 31, 2021 shares	Dec. 31, 2022 shares
Noncontrolling Interest [Line Items]
Common unit, vote per share | vote			1
Common equivalent ratio			1
Cumulative preferred return			10%
Reverse recapitalization (in shares)			178,396,711
Common stock, vote per share | vote			1
Sale of stock, number of shares issued in transaction (in shares)				23,700,002
Class A
Noncontrolling Interest [Line Items]
Common stock, shares authorized (shares)			332,000,000		332,000,000
Class A | ATM Program
Noncontrolling Interest [Line Items]
Aggregate sales price | $	$ 150		$ 139,644
Sale of stock, number of shares issued in transaction (in shares)			1,737,378
Proceeds from issuance of common stock gross | $			$ 10,356
Proceeds from issuance of common stock net | $			$ 9,836
Common stock, shares authorized (shares)			18,262,622
Class A | Subsequent Event
Noncontrolling Interest [Line Items]
Sale of stock, number of shares issued in transaction (in shares)		2,111,199
Proceeds from issuance of common stock gross | $		$ 5,578
Proceeds from issuance of common stock net | $		$ 5,438

Equity and Loss Per Share - Bas

Equity and Loss Per Share - Basic and Diluted Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	8 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Noncontrolling Interest And Earnings Per Share [Abstract]
Net loss attributable to Class A common stockholders	$ (25,914)	$ (58,362)
Net loss attributable to Class A common stockholders	$ (25,914)	$ (58,362)
Weighted-average shares for basic loss per share (shares)	50,763,844	73,386,018	50,763,844	0
Weighted-average shares for diluted loss per share (shares)	50,763,844	73,386,018	50,763,844	0
Basic loss per share of Class A common stock (usd per share)	$ (0.51)	$ (0.80)	$ (0.51)	$ 0
Diluted loss per share of Class A common stock (usd per share)	$ (0.51)	$ (0.80)	$ (0.51)	$ 0
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	189,914,957	185,756,261
Class B common shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	157,090,820	154,477,032
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	12,224,783	9,565,211
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	18,458,703	18,458,701
Time-based RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	2,140,651	3,255,317

Warrant Liabilities (Details)

Warrant Liabilities (Details) $ / shares in Units, $ in Thousands	8 Months Ended	12 Months Ended
	Dec. 31, 2022 USD ($) shares	Dec. 31, 2023 USD ($) day $ / shares shares
Derivative [Line Items]
Proceeds from warrant exchanged | $	$ 22,325	$ 0
Exercise price of warrant (usd per share) | $ / shares		$ 11.50
Warrants and rights outstanding, term		5 years
Period after transaction when private placement warrants become identical to public warrants		30
Warrant Redemption Scenario One
Derivative [Line Items]
Stock price trigger (usd per share) | $ / shares		$ 18
Redemption price (usd per share) | $ / shares		$ 0.01
Prior written notice period for redemption		30
Threshold trading days		20
Threshold consecutive trading day period		30
Threshold ending trading days		3
Warrant Redemption Scenario Two
Derivative [Line Items]
Stock price trigger (usd per share) | $ / shares		$ 10
Redemption price (usd per share) | $ / shares		$ 0.10
Prior written notice period for redemption		30
Threshold trading days		20
Threshold consecutive trading day period		30
Threshold ending trading days		3
Public Warrants
Derivative [Line Items]
Class of warrant outstanding (in shares) | shares	9,558,703	9,558,701
Number of warrants exchanged (in shares) | shares	1,941,297
Private Placement Warrants
Derivative [Line Items]
Class of warrant outstanding (in shares) | shares	8,900,000	8,900,000

Fair Value Measurement (Details

Fair Value Measurement (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	$ 5,722	$ 29,349
Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	5,722	29,349
Fair Value, Recurring | Public Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	2,963	15,198
Fair Value, Recurring | Private Placement Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	2,759	14,151
Level 1 | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	2,963	15,198
Level 1 | Fair Value, Recurring | Public Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	2,963	15,198
Level 1 | Fair Value, Recurring | Private Placement Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	0	0
Level 2 | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	2,759	14,151
Level 2 | Fair Value, Recurring | Public Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	0	0
Level 2 | Fair Value, Recurring | Private Placement Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	2,759	14,151
Level 3 | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	0	0
Level 3 | Fair Value, Recurring | Public Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	0	0
Level 3 | Fair Value, Recurring | Private Placement Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	$ 0	$ 0

Accounts and Other Receivables

Accounts and Other Receivables (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Receivables [Abstract]
Interest receivable	$ 318	$ 1,021

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Less: Accumulated depreciation	$ (20,745)	$ (19,431)
Net property, plant and equipment	4,116	4,770
Depreciation	2,380	2,521	$ 2,018
General and Administrative Expense
Property, Plant and Equipment [Line Items]
Depreciation	520	770	876
Other Expense
Property, Plant and Equipment [Line Items]
Depreciation	1,860	1,751	$ 1,142
Depreciable Property, Plant And Equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment gross	24,861	24,089
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property, plant and equipment gross	27	173
Office and computer equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment gross	7,274	7,393
Software
Property, Plant and Equipment [Line Items]
Total property, plant and equipment gross	14,102	13,864
Test equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment gross	1,165	347
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property, plant and equipment gross	2,293	2,312
Asset under development
Property, Plant and Equipment [Line Items]
Total property, plant and equipment gross	$ 0	$ 112

DCRA, LLM Agreement and Relea_2

DCRA, LLM Agreement and Release Agreement (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Nov. 07, 2023	Sep. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purchase of certain long-lead materials	$ 32,323				$ 0
Accrued cost to the company			$ 34,500
Estimated cost percentage	100%
Long-lead material work in process	$ 36,361				$ 0
Carbon Free Power Project Award
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Settlement and release agreement, initial payment, agreed amount		$ 49,769
Letters of credit		5,000
Restricted cash		$ 5,100
Carbon Free Power Project Award | Long Lead Material Contract
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purchase of certain long-lead materials				$ 55,700

Intangible Assets and Redeema_2

Intangible Assets and Redeemable Common Units (Details)	12 Months Ended
	Dec. 31, 2015 USD ($) module $ / shares	Dec. 31, 2023 USD ($) patent shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 shares	Dec. 31, 2020 shares
Federal Home Loan Bank, Advances [Line Items]
Number of patents | patent		3
Cash payment upon execution of agreement	$ 1,000
On-going quarterly cash payments	$ 25,000
Current commercial price paid for the first 24 modules sold to commercial customers (as a percent)	0.25%
Number of modules sold under first commercial scale | module	24
Current commercial price paid for the next 12 modules sold to commercial customers (as a percent)	0.15%
Number of modules sold under subsequent commercial scale | module	12
Temporary equity, shares outstanding (in shares) | shares				6,000,000	6,000,000
NuScale Corp Class B common stock
Federal Home Loan Bank, Advances [Line Items]
Total Shares (shares) | shares		154,477,032	157,090,820
Oregon State University | Purchase Sale And License Agreement
Federal Home Loan Bank, Advances [Line Items]
Cash payment upon execution of agreement	$ 1,000
Gross carrying amount	2,462,000
Expected amortization, year one		$ 177,000
Expected amortization, year two		177,000
Expected amortization, year three		177,000
Expected amortization, year four		177,000
Expected amortization, year five		177,000
Temporary equity, shares outstanding (in shares) | shares				6,000,000
Oregon State University | Purchase Sale And License Agreement | Patents
Federal Home Loan Bank, Advances [Line Items]
Gross carrying amount		2,462,000	$ 2,462,000
Accumulated amortization		$ 1,580,000	$ 1,403,000
Oregon State University | Purchase Sale And License Agreement | Initial Offering
Federal Home Loan Bank, Advances [Line Items]
Number of common units granted (in shares)	$ 2,750,000
Weighted average price per unit (usd per share) | $ / shares	$ 0.25
Oregon State University | Purchase Sale And License Agreement | Secondary Offering
Federal Home Loan Bank, Advances [Line Items]
Number of common units granted (in shares)	$ 3,250,000
Weighted average price per unit (usd per share) | $ / shares	$ 0.45
Oregon State University | Purchase Sale And License Agreement | NuScale Corp Class B common stock
Federal Home Loan Bank, Advances [Line Items]
Total Shares (shares) | shares				6,000,000

Leases - Assets and Liabilities

Leases - Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Right-of-use Assets
Operating lease assets	$ 2,569	$ 3,870
Total right-of-use assets	2,569	3,870
Lease Liabilities
Operating lease liabilities, current	1,495	1,568
Operating lease liabilities, noncurrent	1,442	2,786
Total lease liabilities	$ 2,937	$ 4,354
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other accrued liabilities	Other accrued liabilities
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Noncurrent liabilities	Noncurrent liabilities

Leases - Supplemental Lease Inf

Leases - Supplemental Lease Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Right-of-use assets obtained in exchange for new operating leases	$ 153	$ 0
Weighted-average remaining lease term – operating leases	1 year 11 months 12 days	2 years 8 months 26 days
Weighted average discount rate-operating leases	5.07%	4.92%

Leases - Remaining Lease Paymen

Leases - Remaining Lease Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
2024	$ 1,604
2025	1,396
2026	79
Total lease payments	3,079
Less: interest	(142)
Present value of lease liabilities	$ 2,937	$ 4,354

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Lease expense	$ 1,716	$ 2,063	$ 1,695
Operating lease, cost	1,637	1,851	1,505
Short-term lease, cost	$ 79	$ 212	$ 190

Employee Benefits (Details)

Employee Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan expense	$ 2,691	$ 2,511	$ 1,878
Defined Contribution Plan, Tranche One
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan, employer matching contribution, percent of employees' gross pay	3%
Defined Contribution Plan, Tranche Two
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan, employer matching contribution, percent of employees' gross pay	2%
Defined contribution plan, employer matching contribution, percent of match	50%

Equity-Based Compensation - Nar

Equity-Based Compensation - Narrative (Details) - USD ($)			1 Months Ended			12 Months Ended
	Jan. 01, 2023	Jul. 05, 2022	Feb. 29, 2024	Feb. 28, 2022	Apr. 30, 2013	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2013
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation expense						$ 16,237,000	$ 10,821,000	$ 6,441,000
Vesting percentage						25%
Increase to share pool, shares	8,972,128
Common stock share percentage	4%
Aggregate fair value						$ 3,213,000	$ 3,986,000	3,673,000
Contractual term, outstanding (in years)						4 years 9 months 18 days
Contractual term, exercisable (in years)						4 years 8 months 12 days
Weighted average grant date fair value (per share)							$ 6.29
Options, intrinsic value						$ 0
Exercise of common unit options						6,291,000	$ 7,224,000
Unrecognized stock option expense						$ 1,757,000
Weighted-average period (in years)						8 months 12 days
General and Administrative Expense
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation expense						$ 6,509,000	5,197,000	3,257,000
Other Expense
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation expense						$ 9,728,000	5,624,000	3,184,000
Time-based RSUs
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted-average period (in years)						1 year
Aggregate fair value of RSUs vested						$ 6,016,000	$ 0	$ 0
Restricted stock or unit expense						$ 23,563,000
Time-based RSUs | Subsequent Event
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting percentage			33.33%
Award vesting period			3 years
Shares approved (shares)			4,598,635
Shares approved, value			$ 14,716,000
Time-based RSUs | New Directors
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award vesting period						1 year
Time-based RSUs | Independent Directors
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award vesting period						3 years
Time-based RSUs | Employee
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting percentage					33.33%
Award vesting period						3 years
Common Unit Appreciation Rights (UARs)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation expense				$ 1,490,000
Vesting percentage					33.33%
Share based compensation arrangement, number of shares granted (shares)									1,000
Strike price (usd per share)									$ 0.11
Share based compensation arrangement, accrued liability to settle award				$ 1,540,000
Retired Or Over Five Years Experience
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award requisite service period						5 years
Share-Based Payment Arrangement, Tranche One
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award requisite service period						1 year
Share-Based Payment Arrangement, Tranche Two
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award requisite service period						3 years
Class A
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Conversions in period (shares)		14,742,933
Number of shares registered in filing (shares)		17,760,961

Equity-Based Compensation - Pla

Equity-Based Compensation - Plan Activity (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares
Number of Shares
Outstanding at beginning balance (shares) | shares	12,224,783
Exercised (shares) | shares	(2,416,987)
Forfeited (shares) | shares	(198,853)
Expired (shares) | shares	(43,732)
Outstanding at ending balance (shares) | shares	9,565,211
Weighted Average Exercise Price
Outstanding at beginning balance (usd per share) | $ / shares	$ 4.09
Exercised (usd per share) | $ / shares	2.59
Forfeited (usd per share) | $ / shares	6.34
Expired (usd per share) | $ / shares	6.62
Outstanding at ending balance (usd per share) | $ / shares	$ 4.09
Aggregate Intrinsic Value
Outstanding at beginning balance | $	$ 75,427
Exercised | $	11,986
Outstanding at ending balance | $	$ 307
Exercisable (shares) | shares	9,209,328
Vested or expected to vest (shares) | shares	9,565,211
Exercisable (usd per share) | $ / shares	$ 4.28
Vested or expected to vest (usd per share) | $ / shares	$ 4.09
Exercisable | $	$ 307
Vested and Expected to vest | $	$ 307

Equity-Based Compensation - Val

Equity-Based Compensation - Valuation Assumptions (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Risk-free interest rate	1.44%
Expected option life	6 years 3 months	6 years 3 months
Expected price volatility	73.98%
Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Risk-free interest rate		0.62%
Expected price volatility		64.60%
Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Risk-free interest rate		1.31%
Expected price volatility		74%

Equity-Based Compensation - Sch

Equity-Based Compensation - Schedule of Time-based Restricted Stock Units (Details) - Time-based RSUs	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Number of RSUs
Outstanding at beginning balance (shares) | shares	2,140,651
Granted (shares) | shares	2,319,818
Vested (shares) | shares	(773,994)
Forfeited/Expired (shares) | shares	(431,158)
Outstanding at ending balance (shares) | shares	3,255,317
Weighted Average Grant-Date Fair Value
Outstanding at beginning balance | $ / shares	$ 10.71
Granted (usd per share) | $ / shares	9.62
Vested (usd per share) | $ / shares	10.48
Forfeited/Expired (usd per share) | $ / shares	10.59
Outstanding at ending balance | $ / shares	$ 10.02

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	May 01, 2022
Income Tax Examination [Line Items]
Provision (benefit) for income taxes	$ 0	$ 0	$ 0
Deferred income tax expense (benefit)	0	0
Net operating loss carryforwards	$ 11,919	$ 3,577
NuScale Corp | Class A
Income Tax Examination [Line Items]
Noncontrolling interest, ownership percentage	33.20%	30.60%		19%
Domestic Tax Authority
Income Tax Examination [Line Items]
Net operating loss carryforwards	$ 10,236
Net operating loss carryforwards, subject to expiration	$ 1,683

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Computed tax (21%)	$ (37,824)	$ (29,730)
Income attributable to legacy NuScale LLC holders	0	6,543
Income tax benefit attributable to NCI	25,568	17,746
Change in valuation allowance	20,048	9,227
State income tax benefit, net of effect on federal tax	(2,831)	(1,235)
Other, net (none in excess of 5% of computed tax)	(4,961)	(2,551)
Income tax expense	$ 0	$ 0	$ 0

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred Tax Assets:
Investment in NuScale Power LLC	$ 142,472	$ 122,982
Net operating loss and credit carryforwards	11,919	3,577
Accrued Expenses	62	0
Stock Compensation	7	95
Total deferred tax assets	154,460	126,654
Valuation allowance	(154,460)	(126,654)
Total	0	0
Deferred Tax Liabilities (none noted)
Net deferred tax asset	$ 0	$ 0

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction	$ 32,875	$ 31,289	$ 18,113
Revenue	22,810	11,804	2,862
Related Party
Related Party Transaction [Line Items]
Accounts payable and accrued expenses	4,080	7,694
Revenue	16,897	8,550	$ 1,553
Accounts and other receivables	$ 2,642	$ 1,508
Revenue earned percentage	74.10%	72.40%

Commitment and Contingencies (D

Commitment and Contingencies (Details)			1 Months Ended
	Feb. 02, 2024	Sep. 19, 2022 plaintiff	Dec. 26, 2023 lawsuit
Commitments and Contingencies Disclosure [Abstract]
Number of plaintiffs | plaintiff		13
Number of additional lawsuits | lawsuit			2
Subsequent Event
Loss Contingencies [Line Items]
Complaint response period	28 days

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event $ in Thousands	Jan. 05, 2024 employee	Mar. 31, 2024 USD ($)
Subsequent Event [Line Items]
Number of positions eliminated | employee	154
Transition percentage	28%
Forecast
Subsequent Event [Line Items]
Restructuring charges | $		$ 3,000