NextDecade Corp
For the period ended Sep 30, 2025. Filed Oct 30, 2025.
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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.
Sep 30, 2025 · Filed Oct 30, 2025
NEXT$6.35+0.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
(in thousands, unaudited)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Operating activities: | ||
| Net loss attributable to NextDecade Corporation | $(500,616) | $(203,996) |
| Adjustment to reconcile net loss to net cash used in operating activities | ||
| Depreciation | 1,399 | 1,317 |
| Share-based compensation expense | 26,884 | 13,832 |
| Derivative loss (gain) | 217,684 | (38,206) |
| Derivative settlements | 15,986 | 45,231 |
| Amortization of leases | 7,735 | 3,659 |
| Loss on extinguishment of debt | 9,160 | 47,573 |
| Corporate fixed asset retirements | 3,518 | — |
| Amortization of debt issuance costs | 51,931 | 49,069 |
| Interest elected to be paid-in-kind | 18,754 | — |
| Other | (203) | 2,321 |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | 1,316 | 767 |
| Accounts payable | 13,339 | 3,260 |
| Operating leases | (5,676) | (1,631) |
| Accrued expenses and other liabilities | (9,952) | (9,878) |
| Net cash used in operating activities | (148,741) | (86,682) |
| Investing activities: | ||
| Acquisition of property, plant and equipment | (2,859,338) | (1,873,194) |
| Acquisition of other non-current assets | (20,792) | (6,404) |
| Net cash used in investing activities | (2,880,130) | (1,879,598) |
| Financing activities: | ||
| Proceeds from debt issuance | 2,762,500 | 2,798,890 |
| Receipt of equity commitments | 710,667 | 493,333 |
| Repayment of debt | — | (1,282,000) |
| Costs associated with repayment of debt | — | (13,423) |
| Debt issuance costs | (76,822) | (52,623) |
| Shares repurchased related to share-based compensation | (15,562) | (6,577) |
| Net cash provided by financing activities | 3,380,783 | 1,937,600 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 351,912 | (28,680) |
| Cash, cash equivalents and restricted cash – beginning of period | 392,762 | 294,478 |
| Cash, cash equivalents and restricted cash – end of period | $744,674 | $265,798 |
| Balance per Consolidated Balance Sheets: | ||
| September 30, 2025 | ||
| Cash and cash equivalents | $209,402 | |
| Restricted cash | 535,272 | |
| Total cash, cash equivalents and restricted cash | $744,674 | |
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