Company: NPWR-WT
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001845437-25-000053
Chunk: 33

Company: NET Power Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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506,584 Shareholders' equityPreferred Stock, $.0001 par value; 1,000 shares authorized; no shares issued or outstanding as of June 30, 2025 and December 31, 2024— — Class A Common Stock, $.0001 par value; 520,000 shares authorized; 77,879 shares issued and outstanding as of June 30, 2025 and 76,760 shares issued and outstanding as of December 31, 20248 8 Class B Common Stock, $.0001 par value; 310,000 shares authorized; 141,340 shares issued and outstanding as of June 30, 2025 and 139,691 shares issued and outstanding as of December 31, 202414 14 Additional paid-in capital879,653 771,594 Accumulated other comprehensive loss61 32 Accumulated deficit(263,536)(116,044)Total shareholders' equity616,200 655,604 Total liabilities, mezzanine shareholders' equity, and shareholders' equity$1,789,474 $2,294,115 

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

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Table of Contents

NET Power Inc.

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)

In thousands, except per share data

Three Months Ended June 30,Six Months Ended June 30,2025202420252024Revenue$— $238 $— $238 Cost of revenue— 30 — 30 Gross profit— 208 — 208 Operating expensesGeneral and administrative13,578 7,787 22,270 14,097 Sales and marketing1,492 876 2,679 1,628 Research and development26,618 15,483 49,218 26,751 Project development27,198 869 31,687 1,291 Goodwill impairment and other charges— — 415,897 — Depreciation, amortization, and accretion21,669 20,047 43,356 40,079 Total operating expenses90,555 45,062 565,107 83,846 Operating loss(90,555)(44,854)(565,107)(83,638)Other incomeInterest income5,466 9,029 11,345 16,