NextDecade Corp
For the period ended Dec 31, 2025. Filed Mar 2, 2026.
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FY2025 · Filed Mar 2, 2026
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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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Operating activities: | |||
| Net (loss) income | $(429,637) | $277,447 | $(221,640) |
| Adjustment to reconcile net loss to net cash used in operating activities | |||
| Depreciation | 1,785 | 1,931 | 168 |
| Share-based compensation expense | 39,211 | 19,907 | 26,553 |
| Derivative (gain) loss | 11,006 | (586,541) | 44,803 |
| Derivative settlements | 21,267 | 48,676 | 4,138 |
| Amortization of leases | 10,337 | 4,745 | 2,980 |
| Loss on debt extinguishment and modification cost | 30,138 | 49,314 | 9,531 |
| Amortization of debt issuance costs | 80,470 | 65,336 | 41,390 |
| Interest elected to be paid-in-kind | 25,851 | — | — |
| Other | 3,354 | 3,481 | 22,599 |
| Changes in operating assets and liabilities: | |||
| Prepaid expenses and other current assets | (3,951) | (854) | (940) |
| Accounts payable | 2,170 | (2,222) | 4,057 |
| Operating leases | (7,639) | (2,060) | (179) |
| Accrued expenses and other liabilities | 46,241 | 25,255 | (7,080) |
| Net cash used in operating activities | (169,397) | (95,585) | (73,620) |
| Investing activities: | |||
| Acquisition of property, plant and equipment | (4,846,807) | (2,567,801) | (1,737,636) |
| Acquisition of other non-current assets | (6,097) | (6,404) | (15,164) |
| Net cash used in investing activities | (4,852,904) | (2,574,205) | (1,752,800) |
| Financing activities: | |||
| Proceeds from debt issuance | 4,701,000 | 3,523,243 | 2,083,000 |
| Receipt of equity commitments | 981,667 | 676,000 | 457,659 |
| Proceeds from sale of common stock | — | — | 254,400 |
| Repayment of debt | — | (1,338,243) | (233,000) |
| Costs associated with repayment of debt | — | (13,423) | — |
| Debt and equity issuance costs | (313,483) | (72,801) | (494,270) |
| Debt modification costs | (15,611) | — | — |
| Preferred stock dividends | — | — | (53) |
| Shares repurchased related to share-based compensation | (16,946) | (6,702) | (9,627) |
| Net cash provided by financing activities | 5,336,627 | 2,768,074 | 2,058,109 |
| Net increase in cash, cash equivalents and restricted cash | 314,326 | 98,284 | 231,689 |
| Cash, cash equivalents and restricted cash – beginning of period | 392,762 | 294,478 | 62,789 |
| Cash, cash equivalents and restricted cash – end of period | $707,088 | $392,762 | $294,478 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.