Deep Isolation Nuclear, Inc. reported its financial and operational results for the third quarter ended September 30, 2026. The company reported consolidated revenue of $1.8 million for the quarter, a slight increase of approximately $0.1 million, or 6%, compared to the same period in the prior year. This growth was attributed to the completion of milestones for certain projects and increased billing at its wholly owned environmental consulting subsidiary, Freestone Environmental Services, Inc.
Despite the revenue increase, the company reported a net loss of $3.8 million for the quarter, an increase of $2.5 million compared to the prior year. The company attributed this loss primarily to higher research and development expenses and selling, general, and administrative expenses. Research and development costs rose to approximately $0.5 million, while selling, general, and administrative expenses increased by $1.8 million. The company noted that the rise in administrative costs was largely due to stock-based compensation and the addition of nine new employees, including the Chief Financial Officer and General Counsel.
As of September 30, 2026, the company had available cash of $16.5 million. The company also reported total common shares outstanding of 57,765,606 as of November 9, 2026.
On the operational front, Deep Isolation highlighted several key developments during the quarter. In July 2026, the company’s common stock began trading on the OTCQB Venture Market under the ticker symbol “DBHL.” The company was also selected as the sole industrial partner on three U.S. Department of Energy Project GENESIS grants focused on artificial intelligence-enabled repository analysis.
Subsequent to the quarter-end, the company announced the receipt of a drilling permit from the Texas Railroad Commission for its full-scale, non-radioactive Commercialization Pilot near Cameron, Texas. The company also began site preparation, including well pad construction, at the Deep Borehole Demonstration Center (DBDC) in October 2026. The pilot program is designed to test borehole construction, surface handling, and full-scale emplacement and retrieval of the company’s Universal Canister System.
Additionally, the company announced results from a three-year DOE-funded study evaluating deep borehole disposal of waste generated by recycling used nuclear fuel. The study, conducted with Argonne National Laboratory, Oklo, and Case Western Reserve University, projected that all disposal scenarios would cost less than the program’s target of 0.1 cent per kilowatt-hour of electricity generated.
