NET Power Inc.
For the period ended Dec 31, 2025. Filed Mar 9, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Mar 9, 2026
NPWR$0.84-0.3%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 | |
| Cash flows from operating activities: | ||
| Net loss after income tax | $(1,673,427) | $(164,644) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation, amortization, and accretion | 62,387 | 81,623 |
| Impairment and other charges | 1,512,217 | — |
| Non-cash income | (2,482) | (2,543) |
| Deferred taxes | (4,306) | (10,580) |
| Change in fair value of Earnout Shares liability and Warrant liability | (72,391) | 25,656 |
| Change in Tax Receivable Agreement liability | (21,317) | — |
| Share-based compensation expense | 46,434 | 33,666 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable, net | — | 58 |
| Interest receivable | 3,430 | (989) |
| Prepaid expenses and other current assets | (2,722) | 47 |
| Other long-term assets | 265 | (625) |
| Accounts payable | (1,655) | 2,475 |
| Accrued liabilities | (4,154) | 4,024 |
| Due to related parties | 36,937 | 183 |
| Net cash used in operating activities | (120,784) | (31,649) |
| Cash flows from investing activities: | ||
| Purchases of available-for-sale securities | (186,016) | (169,894) |
| Maturities of available-for-sale securities | 111,648 | 71,075 |
| Maturities of short-term investments | 100,000 | — |
| Purchase of property, plant and equipment | (33,214) | (68,651) |
| Capitalized software | (1,223) | (1,203) |
| Net cash used in investing activities | (8,805) | (168,673) |
| Cash flows from financing activities: | ||
| Issuance of Class A Common Stock under share-based compensation plans | 141 | — |
| Payment of tax withholdings on vested share-based payment awards | (172) | (130) |
| Exercise of Warrants | — | 19 |
| Payments on finance lease obligations | (199) | (67) |
| Tax-related partnership distribution | — | (4,751) |
| Net cash used in financing activities | (230) | (4,929) |
| Net decrease in cash, cash equivalents, and restricted cash | (129,819) | (205,251) |
| Cash, cash equivalents, and restricted cash, beginning of period | 331,676 | 536,927 |
| Cash, cash equivalents, and restricted cash, end of period | $201,857 | $331,676 |
Consolidated Statements of Cash Flows (Continued)
| Year Ended December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Supplemental cash flow information: | ||
| Cash paid for interest | $29 | $— |
| Cash paid for income taxes | 1 | — |
| Supplemental non-cash investing and financing activities: | ||
| Change in accruals for capital expenditures | $(1,875) | $(1,320) |
| Operating lease right-of use asset acquired | 1,591 | 959 |
| Finance lease right-of-use asset acquired | — | 349 |
| Revision of estimated asset retirement obligation | — | 996 |
| Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheet: | ||
| Cash and cash equivalents | $199,430 | $329,230 |
| Restricted cash | 2,427 | 2,446 |
| Total cash, cash equivalents, and restricted cash | $201,857 | $331,676 |
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