X-energy shares climbed Thursday after the advanced nuclear reactor developer reported second-quarter 2026 revenue and grant income of $54.6 million, up 154% from $21.5 million a year earlier and above analyst estimates of $47.4 million. The company posted a net loss of 21 cents a share, wider than the consensus expectation for a 12-cent loss. Revenue growth was primarily driven by a $31.9 million increase in work under the Department of Energy’s Advanced Reactor Demonstration Program. The update adds operating and funding context to X-energy’s Texas small modular reactor effort, which had already drawn market attention after the DOE directed $1 billion to the project, lifting total federal backing to about $1.23 billion. On the earnings call, CEO J. Clay Sell said the DOE indicated the company will receive up to an additional $1 billion in public funding for the small nuclear power plant project in Texas. X-energy also said the DOE approved an extension of its ARDP budget period through March 2027 to support deployment of its Xe-100 reactor and TRISO-X fuel fabrication facilities. The company expanded its supply chain during the quarter with long-term HALEU enrichment agreements with Centrus Energy Corp. and General Matter, as well as a manufacturing agreement with SGL Carbon to scale nuclear-grade graphite production. Total liquidity stood at $1.9 billion as of June 30, 2026, bolstered by $1.1 billion in net proceeds from X-energy’s April IPO. Shares were up 12.58% at $22.91 in Thursday afternoon trading.