X-Energy, Inc.
For the period ended Jun 30, 2026. Filed Aug 13, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 13, 2026
XE$10.97-1.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets (Unaudited)
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except unit and share data)
| June 30, 2026 | December 31, 2025 | |
|---|---|---|
| ASSETS | ||
| Current assets | ||
| Cash and cash equivalents | $1,145,424 | $458,932 |
| Short-term investments | 489,752 | 304,908 |
| Accounts receivable | 40,782 | 32,940 |
| Unbilled receivables and contract assets | 75,359 | 41,529 |
| Prepaid and other current assets | 21,302 | 11,491 |
| Due from related parties | 21,256 | 4,580 |
| Total current assets | 1,793,875 | 854,380 |
| Long-term investments | 264,634 | 261,458 |
| Restricted cash | 4,200 | 3,698 |
| Property and equipment, net | 119,126 | 50,105 |
| Operating lease right-of-use assets | 21,750 | 22,696 |
| Other long-term assets | 51,626 | 18,934 |
| Total assets | $2,255,211 | $1,211,271 |
| LIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS' EQUITY AND MEMBERS’ DEFICIT | ||
| Current liabilities | ||
| Accounts payable | $10,700 | $3,363 |
| Accrued liabilities | 86,142 | 51,217 |
| Due to related parties | 7,466 | 4,225 |
| Total current liabilities | 104,308 | 58,805 |
| Long-term deferred revenue | 12,800 | 12,800 |
| Long-term deferred revenue with related parties | 17,527 | 2,353 |
| Long-term operating lease liabilities | 24,929 | 20,887 |
| Warrant liabilities | — | 274,166 |
| Total liabilities | 159,564 | 369,011 |
| Mezzanine equity | ||
| Class A and B common units⁽¹⁾ | — | 95,153 |
| Series A, A-1, B, C, C-1, and D redeemable convertible preferred units⁽¹⁾ | — | 1,971,402 |
| Total mezzanine equity | — | 2,066,555 |
| Preferred Stock: $0.0001 par value per share; 10.0 million shares authorized, no shares issued and outstanding as of June 30, 2026; no shares authorized, issued, and outstanding as of December 31, 2025 | — | — |
| Class A common stock: $0.0001 par value per share; 1,868.0 million shares authorized, 287.4 million shares issued and outstanding as of June 30, 2026; no shares authorized, issued and outstanding as of December 31, 2025 | 29 | — |
| Class B common stock: $0.0001 par value per share; 132.0 million shares authorized, 118.9 million shares issued and outstanding as of June 30, 2026; no shares authorized, issued and outstanding as of December 31, 2025 | 12 | — |
| Accumulated deficit | (59,090) | (1,236,345) |
| Accumulated other comprehensive income (loss) | 306 | (117) |
| Additional paid-in capital | 1,873,512 | 12,167 |
| Total equity (deficit) attributable to X-Energy, Inc. | 1,814,769 | (1,224,295) |
| Non-controlling interests | 280,878 | — |
| Total stockholders’ equity and members’ deficit | 2,095,647 | (1,224,295) |
| Total liabilities, mezzanine equity, and stockholders’ equity and members’ deficit | $2,255,211 | $1,211,271 |
(1)
See Note 10 —Stockholders’ Equity and Mezzanine Equityfor breakdown of mezzanine equity units.
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