FORM 10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934 For the quarterly period ended June 30, 2026OR ☐TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 For the transition period from _______ to _______ Commission file number:000-56407 Deep Fission, Inc.(Exact name of registrant as specified in its charter) 2001 Addison St., Suite 300Berkeley, California 94704(Address of principal executive offices) (707) 400-0778(Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Name of Each Exchange on WhichRegistered:The Nasdaq Global Market Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant wasrequired to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or forsuch shorter period that the registrant was required to submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, asmaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,”“accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer☐Accelerated filer☐Non-accelerated filer☒Smaller reporting company☒Emerging growth company☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transitionperiod for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of theExchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒ As of July 27, 2026, there were 58,905,938 shares of common stock issued and outstanding. DEEP FISSION, INC. AND SUBSIDIARIESFiscal Quarter Ended June 30, 2026Index to Form 10-Q CAUTIONARY NOTE ON FORWARD-LOOKING STATEMENTS3PART I - FINANCIAL INFORMATION6Item 1: Financial Statements6Condensed Consolidated Balance Sheets6Condensed Consolidated Statements of Operations7Condensed Consolidated Statements of Stockholders’ Equity (Deficit)8Condensed Consolidated Statements of Cash Flows9Notes to Condensed Consolidated Financial Statements10Item 2:Management’s Discussion and Analysis of Financial Condition and Results of Operations22Item 3:Quantitative and Qualitative Disclosures About Market Risk29Item 4: Controls and Procedures29PART II - OTHER INFORMATION30Item 1.Legal Proceedings30Item1A.Risk Factors30Item 2.Unregistered Sales of Equity Securities and Use of Proceeds30Item 3.Defaults Upon Senior Securities30Item 4.Mine Safety Disclosure30Item 5. Other Information30Item 6. Exhibits31SIGNATURES32 CAUTIONARY NOTE ON FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q (“Quarterly Report”) contains forward-looking statements within themeaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of theSecurities Exchange Act of 1934, as amended (the “Exchange Act”), and is intended to qualify for the safe harborfrom liability established by the Private Securities Litigation Reform Act of 1995. All statements contained in thisQuarterly Report other than statements of historical fact are forward-looking statements. Forward-looking statements generally relate to future events or our future financial or operating performance. Insome cases, you can identify forward-looking statements because they contain words such as “may,” “should,”“expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “target,” “potential,” “continue,”“could,” “will,” “would,” or similar expressions, or the negative of these terms or similar expressions, although not allforward-looking statements contain these identifying words. Forward-looking statements contained in this Quarterly Report include, but are not limited to, statements ●our future results of operations and financial condition;●our business strategy, including our commercialization strategy and our ability to generate revenue and theexpected function and benefits of our Gravity Nuclear Reactor (“Gravity Reactor”) design and relatedboreholes;●our plans, objectives, and expectations for our business;●our ability to maintain the listing of our common stock on Nasdaq;●our phased deployment plan, including our targeted or expected timelines;●our operations and technology, including the development of our technology according to our expectations;●the targeted e