1Q26 Update: Commercial Pipeline Expands as Regulatory Tailwinds Accelerate

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1Q26 Update: Commercial Pipeline Expands as Regulatory Tailwinds Accelerate

Company Report

May 13, 2026 Oklo Inc (OKLO)

Rating: 1Q26 Update: Commercial Pipeline Expands as RegulatoryOUTPERFORM Tailwinds AcceleratePrice:

$73.63

12-Month Price Target: The Wedbush View

$110.00

OKLO reported its FY1Q26 (March) results as the company continues to build

Analysts operational momentum while adding new regulatory/partnership catalysts that

Dan Ives further reinforce its long term opportunity for domestic nuclear deployment.

(212) 344-2073 The regulatory environment continues to accelerate as the Trump AdministrationDan.Ives@wedbush.com remains committed to positioning nuclear as a cornerstone of US energySteven Wahrhaftig

(212) 931-7059 and AI infrastructure policy, with the NRC advancing the proposed Part 57

steven.wahrhaftig@wedbush.com framework targeting 6-12 month licensing timelines and fleet-based licensing for

Sam Brandeis smaller advanced reactors that align directly with OKLO's repeatable powerhouse

(212) 222-3005 deployment model as Part 57 is expected to be usable later this year. OKLO exited

sam.brandeis@wedbush.com 1Q26 with ~$2.5 billion in total liquidity following completion of the $1.5 billion

Anish Jog ATM program in January, well-positioned to fund 2026 operating CF guidance of(917) 747-3095

anish.jog@wedbush.com ($100.0) - ($80.0) million and investing CF guidance of ($450.0) - ($350.0) million.

We maintain our OUTPERFORM rating and $110 price target.

The Meta agreement continues to anchor the pipeline with the 1.2 GW OhioCompany Information

Market Cap (M) $13,561 campus progressing through pre-construction activities, an initial 150 MW

Enterprise Value (M) $13,048 phase targeted around 2030, and prepayment funds expected to support fuel