As of Q4'25, SMR's latest reported operating income stands at -72.7M USD, reflecting a significant improvement from the previous quarter's sharp loss of -538.44M USD in Q3'25. The year-over-year (YoY) change for Q4'25 is -513.43%, indicating a substantial deterioration compared to the same period last year. Over the period from Q1'23 to Q4'25, SMR's operating income has generally remained negative, with moderate fluctuations until a dramatic spike in losses in Q3'25. This quarter marked a notable inflection point, with operating income plunging to -538.44M USD and YoY growth turning sharply negative. Prior to this, the company showed signs of gradual improvement, particularly in 2024, where YoY growth was positive and losses narrowed, reaching a low of -11.86M USD in Q4'24. However, the extreme volatility in 2025 underscores significant operational challenges and instability in SMR's financial performance.