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As of Q3'25, OKLO’s EV/EBITDA ratio stands at -219.711, marking a significant decline from previous quarters. The latest data point continues a negative trend that began in Q4'23, with the ratio moving further into negative territory. From Q4'22 to Q3'23, OKLO’s EV/EBITDA ratio dropped sharply from 119.537 to 25.377, indicating a rapid valuation contraction. Beginning in Q4'23, the ratio turned negative and has continued to deteriorate each quarter, reaching -219.711 by Q3'25. This sustained downward trajectory highlights a period of financial stress or negative EBITDA, with no signs of reversal over the observed period. The area chart visually emphasizes the steep and persistent decline from positive to deeply negative values across the 2022-2025 timeframe.