Company: NPWR-WT
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001845437-25-000027
Chunk: 7

Company: NET Power Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 7
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 next 12 months, or to make a statement that an estimate of the range cannot be made. ASU 2023-09 is effective for the Company for calendar years beginning after December 15, 2025. Early adoption is permitted. The Company is evaluating the impact to its income tax disclosures.In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”), which requires new tabular disclosures in the notes to consolidated financial statements, disaggregating certain cost and expense categories within relevant captions on the consolidated statements of operations. The prescribed cost and expense categories requiring disaggregated disclosures include purchases of inventory, employee compensation, depreciation, and intangible asset amortization, along with certain other expense disclosures already required by U.S. GAAP that would need to be integrated within the new tabular disaggregated expense disclosures. Additionally, the amendments also require the disclosure of total selling expenses and an entity's definition of those expenses. The amendments in ASU 2024-03 are effective for annual periods beginning after December 15, 2026 and for subsequent interim periods. Early adoption is permitted and the amendments should be applied on a prospective basis, although retrospective application is permitted. The Company is evaluating the impact the new accounting standard will have on its expense disclosures.

NOTE 3 — InvestmentsThe Company has two types of investments: (i) a certificate of deposit and (ii) investments in securities which are classified as available-for-sale. The entire balance of $100 million of the certificate of deposit is included within short-term investments on the condensed consolidated balance sheets as of March 31, 2025 and December 31, 2024. The interest receivable on the certificate of deposit was $4.2 million and $2.9 million at March 31, 2025 and December 31, 2024, respectively, and is included in Interest receivable on the condensed consolidated balance sheets. 

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Table of Contents

The following tables presents the Company’s available-for-sale investments included in the condensed consolidated balance sheets:$ in thousandsMarch 31, 2025Current assetsAmortized CostUnrealized GainFair ValueCorporate bonds$5,711 $8 $5,719 Commercial paper19,863 — 19,863 U.S. treasuries64,973 120