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Home/Markets/Nscale's filing estimates $307.5 million in nine-month revenue
VERIFIEDBy Xavier Rivera·Thursday, November 12, 2026 at 7:37 PM AST·1.5 min read

Nscale's filing estimates $307.5 million in nine-month revenue

Nscale has filed an updated registration statement that estimates nine-month revenue of $307.5 million and a net loss of $1,691.9 million. The share count and offering price are still blank.

Source:U.S. Securities and Exchange Commission
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Nscale's filing estimates $307.5 million in nine-month revenue
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TL;DRAI · 60 sec read

Nscale has filed an updated registration statement with estimated revenue of $307.5 million for the nine months ended September 30, 2026. The same table estimates a net loss of $1,691.9 million. Those lines are estimates, not final results. A year earlier, revenue was $21.3 million and the net loss was $433.3 million. The share count and offering price are still blank.

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Nscale has filed an updated registration statement that estimates revenue of $307.5 million for the nine months ended September 30, 2026.

The same table estimates a net loss of $1,691.9 million for that period. The estimated operating loss is $837.5 million. Both lines are labeled estimates for 2026, not final results.
Both lines are labeled estimates for 2026, not final results.

The filing sets those estimates against actual results for the same nine months of 2025. Revenue then was $21.3 million. The net loss was $433.3 million, and the operating loss was $67.6 million.

The share count and the offering price are still blank. The cover says the company currently expects the initial public offering price to fall between two empty dollar marks. It does not state how much the company intends to raise.
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The estimated operating-loss margin is 272%, against 317% a year earlier. The estimated net-loss margin is 550%, against 2,034%. The company also lists an estimated adjusted EBITDA loss of $289.5 million, compared with $22.2 million a year earlier. That adjusted line leaves out items the company chooses to exclude, and it is not a substitute for the net loss.
It does not state how much the company intends to raise.

Nscale plc is based in London and describes itself as an emerging growth company. Ordinary shares would carry a par value of $0.01. There is no public market for the shares yet. The amendment is file number 333-299011.
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Nscale has applied to list ordinary shares on the New York Stock Exchange under the symbol NSCL. The amendment was filed on November 12 and accepted at 5:17 p.m. Eastern. The earlier registration statement in this offering was filed on September 18.
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