NET Power Inc.
For the period ended Sep 30, 2025. Filed Nov 13, 2025.
View on SEC.govAbout this filing
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 Nov 13, 2025
What changed in Risk Factors?
Read the current filingPrevious report: 10-Q
Period ended 2025-06-30; filed 2025-08-11.
0001845437-25-000053
Item 1A. Risk FactorsCurrent report: 10-Q
Period ended 2025-09-30; filed 2025-11-13.
0001845437-25-000061
Item 1A. Risk FactorsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 2 previous paragraphs and 7 current paragraphs.
1 unchanged; 0 reworded; 6 added; 1 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 0 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (6)
Current report
In addition to the information set forth in this Form 10-Q, you should carefully consider the risk factors disclosed in our Annual Report. The information presented below updates, and should be read in conjunction with, the risk factors and information disclosed in our Annual Report. Except as set forth below, there have been no material changes to the risk factors disclosed in the Annual Report.
Current report
We have incurred and may in the future incur losses due to an impairment in the carrying value of our long-lived assets.
Current report
In September 2025, we determined that a triggering event had occurred requiring an impairment assessment of our Developed Technology Asset Group, which resulted in the recognition of an impairment loss of $1,095.8 million for the three and nine months ended September 30, 2025.
Current report
This impairment loss is a reflection of the current market for our technology that has resulted from information gathered by management regarding the projected cost of Project Permian and the ability of our technology to compete with other prevailing energy technologies on both a cost and efficiency basis. Any impairment determinations involve significant assumptions and judgments. If actual results are not consistent with our assumptions and estimates, or our assumptions and estimates change due to new information, we may be exposed to additional impairment charges in future periods, which could adversely affect the Company’s business and financial results.
Current report
The Company has recently decided to broaden the scope of its business, and it may not be able to successfully execute on its broadened business strategy in a cost-effective manner. If the Company fails to execute on its broadened business strategy, for whatever reason, it could materially and adversely affect its business and results of operations.
Current report
In response to recent adverse events that ultimately resulted in the Company recognizing an impairment loss, the Company has decided to broadened the scope of its business to also include the generation of power using more standard simple cycle and combined cycle natural gas turbines in combination with post-combustion carbon capture technology as a means of capturing the CO 2 generated by those turbines. If we are unable to successfully execute on our broadened business strategy, which includes, among other things, developing additional technologies and generating customer interest in any resulting products, our business and results of operations could be adversely affected.
Removed paragraphs (1)
Previous report
As a smaller reporting company, we are not required to provide the information called for by this Item. However, for a discussion of the material risks, uncertainties and other factors that could have a material effect on us, please refer to Part I, Item 1A. “Risk Factors” in our Annual Report.