$FISN

DEEP FISSION, INC.

CIK:0001918102|SEC Filings

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Operating expenses
General and administrative expenses	$ 13,289	$ 1,234	$ 27,255	$ 2,269
Research and development expenses	18,297	865	26,169	1,550
Operating expenses	31,586	2,099	53,424	3,819
Operating loss	(31,586)	(2,099)	(53,424)	(3,819)
Other non-operating income (expense)
Interest income	574		1,067
Change in fair value of SAFE Notes		(1,701)	0	(3,119)
Other income	3	1	4	2
Total non-operating income (expense)	577	(1,700)	1,071	(3,117)
Net loss	$ (31,009)	$ (3,799)	$ (52,353)	$ (6,936)
Basic weighted average shares outstanding of common stock (in shares)	55,098,477	14,002,557	53,532,466	14,057,349
Diluted weighted average shares outstanding of common stock (in shares)	55,098,477	14,002,557	53,532,466	14,057,349
Basic net loss per share of common stock (in dollars per share)	$ (0.56)	$ (0.27)	$ (0.98)	$ (0.49)
Diluted net loss per share of common stock (in dollars per share)	$ (0.56)	$ (0.27)	$ (0.98)	$ (0.49)

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended	6 Months Ended		12 Months Ended
	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Cash flows from operating activities:
Net loss		$ (52,353)	$ (6,936)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		20	3
Change in fair value of SAFE notes	$ 1,701	0	3,119	$ 0
Stock-based compensation		17,725	228
Changes in operating assets and liabilities:
Prepaid expenses		(13,164)	(87)
Other current assets		(43)
Accounts payable		2,434	92
Accrued expenses		610	(32)
Accrued compensation		2,309	(19)
Net cash used in operating activities		(42,462)	(3,632)
Cash flows from investing activities:
Purchases of property and equipment		(78)	(29)
Net cash used in investing activities		(78)	(29)
Cash flows from financing activities:
Proceeds from convertible SAFE notes		0	1,711
Proceeds from private placement		80,000
Proceeds from initial public offering, net of underwriting discounts		36,800
Net cash provided by financing activities		111,837	1,711
Net increase (decrease) in cash and cash equivalents		69,297	(1,950)
Cash and cash equivalents, beginning of the year		23,719	6,729	6,729
Cash and cash equivalents, end of the period	$ 4,779	93,016	4,779	$ 23,719
Supplemental cash flow information:
Subscription of SAFE notes			$ 33
Right-of-use assets obtained in exchange for lease obligations, Operating lease liabilities		62
Private Placement
Cash flows from financing activities:
Offering costs paid		(4,851)
Initial public offering
Cash flows from financing activities:
Offering costs paid		$ (112)

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current Assets
Cash and cash equivalents	$ 93,016	$ 23,719
Prepaid expenses	4,710	713
Other current assets	43
Total current assets	97,769	24,432
Property and equipment, net	101	37
Long-term prepaid expenses	9,388	221
Operating lease right-of-use assets	50
Total assets	107,308	24,690
Current Liabilities
Accounts payable	5,069	538
Accrued expenses	1,094	184
Operating lease liabilities - current	28
Accrued compensation	2,334	25
RSU liability award		1,656
Total current liabilities	8,525	2,403
Operating lease liabilities - non-current	28
Total liabilities	8,553	2,403
Commitments and contingencies (Note 6)
Stockholders' equity (deficit)
Common stock, par value $0.0001 and $0.0001 per share, 300,000,000 shares authorized, 59,745,938 and 51,099,089 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	6	5
Additional paid-in capital	217,829	89,009
Accumulated deficit	(119,080)	(66,727)
Total stockholders' equity	98,755	22,287
Total liabilities and stockholders' equity	$ 107,308	$ 24,690