Noncontrolling Interests and Loss Per Share (Tables)

9 Months Ended

Sep. 30, 2024

Noncontrolling Interest And Loss Per Share [Abstract]

Following the Transaction, holders of Class A common stock own direct controlling interests 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 condensed 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 Three Months Ended September 30,				As of and for the Nine Months Ended September 30,
Noncontrolling Interests	2024		2023		2024		2023

NuScale Corp Class A common stock
Beginning of period	92,486,358		74,045,206		76,895,166		69,353,019
Exchange of combined interests for Class A common stock	198,335		163,497		210,632		2,534,302
Issuance of Class A common stock	2,964,586		822,332		15,661,580		3,143,714
Exercise of options, warrants and vested RSUs	2,244,605		1,385,623		5,126,506		1,385,623
End of period	97,893,884		76,416,658		97,893,884		76,416,658

NuScale LLC Class B Units (NCI)
Beginning of period	154,464,735		154,720,015		154,477,032		157,090,820
Exchange of combined interests for Class A common stock	(198,335)		(163,497)		(210,632)		(2,534,302)
End of period	154,266,400		154,556,518		154,266,400		154,556,518

Total
Beginning of period	246,951,093		228,765,221		231,372,198		226,443,839
Issuance of Class A common stock	2,964,586		822,332		15,661,580		3,143,714
Exercise of options, warrants and vested RSUs	2,244,605		1,385,623		5,126,506		1,385,623
End of period	252,160,284		230,973,176		252,160,284		230,973,176

Ownership Percentage

NuScale Corp Class A common stock
Beginning of period	37.5	%	32.4	%	33.2	%	30.6	%
End of period	38.8	%	33.1	%	38.8	%	33.1	%

NuScale LLC Class B Units (NCI)
Beginning of period	62.5	%	67.6	%	66.8	%	69.4	%
End of period	61.2	%	66.9	%	61.2	%	66.9	%

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. Class B common stock represents a right to cast one vote per share at the NuScale Corp level, and carries 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 Three Months Ended September 30,				As of and for the Nine Months Ended September 30,
(in thousands, except share and per share amounts)	2024		2023		2024		2023
Net loss attributable to Class A common stockholders	$	(17,459)	$	(19,122)	$	(61,648)	$	(39,607)
Weighted-average shares for basic and diluted loss per share	95,197,500		74,836,884		88,137,939		72,235,763
Basic and Diluted loss per share of Class A common stock	$	(0.18)	$	(0.26)	$	(0.70)	$	(0.55)
Anti-dilutive securities excluded from shares outstanding:
Shares of Class B common stock	154,266,400		154,556,518		154,266,400		154,556,518
Stock options	7,684,894		9,606,510		7,684,894		9,606,510
Warrants	18,455,747		18,458,701		18,455,747		18,458,701
Time-based RSUs	5,296,625		3,335,535		5,296,625		3,335,535
Total	185,703,666		185,957,264		185,703,666		185,957,264