Shares of Oklo (OKLO) fell Tuesday morning after the nuclear energy startup reported its latest financial results, giving back some of the stock's Monday gains.

After the bell Monday, Oklo said it recorded a loss of $73.62 million for 2024, more than double the $32.17 million it burned through in 2023. The company said it had $275.3 million in cash and other marketable securities at the end of 2024, and said it expects to use those funds to pay for license application fees and the development of its first "powerhouse" reactor.

The company's first reactor is "on track" to start producing energy in late 2027 or early 2028, Oklo said Monday. The stock was boosted Monday by Oklo's announcement that the Nuclear Regulatory Commission will start a "Pre-Application Readiness Assessment" later this month.

The NRC will review some of Oklo's application materials ahead of the company's full licensing application to build a small modular reactor at the Idaho National Laboratory. Oklo plans to submit its fill licensing application for the site later this year.

"Nuclear energy has gained unprecedented government support, and AI has triggered a Sputnik moment, accelerating the demand for dependable, domestic power," Oklo CEO Jacob DeWitte said in a letter to shareholders.

Shares declined more than 4% Tuesday morning, reversing some of Monday's 13.8% jump.