Company: NPWR-WT
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001845437-25-000061
Chunk: 38

Company: NET Power Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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Preferred Stock, $.0001 par value; 1,000 shares authorized; no shares issued or outstanding as of September 30, 2025 and December 31, 2024— — Class A Common Stock, $.0001 par value; 520,000 shares authorized; 77,883 shares issued and outstanding as of September 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; 142,902 shares issued and outstanding as of September 30, 2025 and 139,691 shares issued and outstanding as of December 31, 202414 14 Additional paid-in capital818,655 771,594 Accumulated other comprehensive loss119 32 Accumulated deficit(675,034)(116,044)Total shareholders' equity143,762 655,604 Total liabilities, mezzanine shareholders' equity, and shareholders' equity$629,895 $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 September 30,Nine Months Ended September 30,2025202420252024Revenue$— $12 $— $250 Cost of revenue— 1 — 31 Gross profit— 11 — 219 Operating expensesGeneral and administrative9,108 8,448 31,378 22,643 Sales and marketing1,395 1,032 4,074 2,660 Research and development24,543 17,333 73,761 44,083 Project development10,032 233 41,719 1,426 Impairment and other charges1,095,839 — 1,511,735 — Depreciation, amortization, and accretion15,580 20,210 58,936 60,289 Total operating expenses1,156,497 47,256 1,721,603 131,101 Operating loss(1,156,497)(47,245)(1,721,603)(130,882)Other income (expense)Interest income4,835 7