Company: NPWR-WT
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001845437-25-000027
Chunk: 4

Company: NET Power Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 4
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,688 20,031 Goodwill impairment and other charges415,897 — Non-cash (income) expense(646)29 Deferred taxes397 (4,039)Change in fair value of Earnout Shares liability and Warrant liability(74,165)14,577 Change in Tax Receivable Agreement liability(21,317)— Share-based compensation expense10,196 6,269 Changes in operating assets and liabilities:Accounts receivable, net— 58 Interest receivable(1,416)1,396 Prepaid expenses and other current assets(306)230 Other long-term assets(263)— Accounts payable(2,243)2,078 Accrued liabilities2,442 (1,589)Due to related parties2,948 (71)Net cash used in operating activities(20,374)(2,663)Cash flows from investing activities:Purchases of available-for-sale securities(24,670)(96,148)Maturities of available-for-sale securities25,350 — Capitalized software(513)— Purchase of property, plant and equipment(8,931)(9,521)Net cash used in investing activities(8,764)(105,669)Cash flows from financing activities:Payments on finance lease obligations(50)— Net cash used in financing activities(50)— Net decrease  in cash, cash equivalents, and restricted cash(29,188)(108,332)Cash, cash equivalents, and restricted cash, beginning of period331,676 536,927 Cash, cash equivalents, and restricted cash, end of period$302,488 $428,595 

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

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NET Power Inc.

Condensed Consolidated Statements of Cash Flows (Continued) (Unaudited)

In thousands

Three Months Ended March 31,20252024Supplemental non-cash investing and financing activities:Change in accruals for capital expenditures$254 $(1,884)Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheet:Cash and cash equivalents$300,030 $428,595 Restricted cash2,458 — Total cash, cash equivalents, and restricted cash$302,488 $428,595 

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

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NET Power Inc.