Company: NPWR-WT
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001845437-25-000008
Chunk: 8

Company: NET Power Inc.
Filing Date: 2025-03-10
Form: 10-K
Item: Item 16
Chunk 8
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974 8,937 Deferred taxes4,306 57,719 Total liabilities131,927 140,136 Commitments and contingencies (Note 16)

The accompanying notes are an integral part of these consolidated financial statements.

F-3

Audited Financial Statements of NET Power Inc. - Table of Contents

NET Power Inc.

Consolidated Balance Sheets (continued)

In thousands, except share and per share data

December 31,20242023Mezzanine shareholders' equityRedeemable non-controlling interests in subsidiary1,506,584 1,545,905 Shareholders' equityPreferred Stock, $.0001 par value; 1,000,000 shares authorized; no shares issued or outstanding as of December 31, 2024 and December 31, 2023— — Class A Common Stock, $.0001 par value; 520,000,000 shares authorized; 76,759,855 shares issued and outstanding as of December 31, 2024 and 71,277,906 shares issued and outstanding as of December 31, 20238 7 Class B Common Stock, $.0001 par value; 310,000,000 shares authorized; 139,690,598 shares issued and outstanding as of December 31, 2024 and 141,787,429 shares issued and outstanding as of December 31, 202314 14 Additional paid-in capital771,594 851,841 Accumulated other comprehensive loss32 — Accumulated deficit(116,044)(66,853)Total shareholders' equity655,604 785,009 Total liabilities, mezzanine shareholders' equity and shareholders' equity$2,294,115 $2,471,050 

The accompanying notes are an integral part of these consolidated financial statements.

F-4

Audited Financial Statements of NET Power Inc. - Table of Contents

NET Power Inc.

Consolidated Statements of Operations and Comprehensive Loss

In thousands, except share, unit, per share and per unit data

SuccessorPredecessorPeriod FromPeriod FromJune 8, 2023January 1, 2023Year Endedthroughthrough December 31, 2024December 31, 2023June 7, 2023Revenue$250 $— $175 Cost of revenue31 — 3 Gross profit219 — 172 Operating expensesGeneral and