Company: NPWR-WT
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001845437-25-000061
Chunk: 43

Company: NET Power Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 43
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1,308 7,761 Net loss— — — — — — 818 818 (7,632)Balance at September 30, 202475,244 $7 140,171 $14 $849,066 $112 $(81,724)$767,475 $1,478,236 

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

7

NET Power Inc.

Condensed Consolidated Statements of Cash Flows (Unaudited)

In thousands

Nine Months Ended September 30,20252024Cash flows from operating activities:Net loss after income tax$(1,615,439)$(65,662)Adjustments to reconcile net loss to net cash used in operating activities:Depreciation, amortization, and accretion58,936 60,289 Impairment and other charges1,511,735 — Non-cash income(1,683)(2,046)Deferred taxes(2,404)(11,137)Change in fair value of Earnout Shares liability and Warrant liability(66,257)(29,361)Change in Tax Receivable Agreement liability(21,317)— Share-based compensation expense35,759 23,795 Changes in operating assets and liabilities:Accounts receivable, net— 58 Interest receivable3,336 113 Prepaid expenses and other current assets(953)(721)Other long-term assets(42)(583)Accounts payable(1,778)3,024 Accrued liabilities5,442 3,289 Due to related parties1,685 262 Net cash used in operating activities(92,980)(18,680)Cash flows from investing activities:Purchases of available-for-sale securities(156,416)(131,564)Maturities of available-for-sale securities65,845 42,250 Maturities of short-term investments100,000 — Capitalized software(1,035)(592)Purchase of property, plant and equipment(15,129)(39,561)Net cash used in investing activities(6,735)(129,467)Cash flows from financing activities:Issuance of Class A Common Stock, including exercise of Warrants157 8 Payment of income taxes on vested share-based payment awards(172)(99)Payments on finance lease obligations(149)— Net cash used in financing activities(164)(91)Net decrease