Company: NPWR-WT
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001845437-25-000053
Chunk: 32

Company: NET Power Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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Item 1. Financial Statements

NET Power Inc.

Condensed Consolidated Balance Sheets (Unaudited)

In thousands, except par value

June 30,December 31,20252024ASSETSCurrent assetsCash and cash equivalents$284,024 $329,230 Short-term investments— 100,000 Investments in securities, available-for-sale119,374 78,344 Interest receivable1,728 3,682 Prepaid expenses and other current assets3,380 1,774 Total current assets408,506 513,030 Long-term assetsRestricted cash2,470 2,446 Investments in securities, available-for-sale68,913 22,628 Intangible assets, net1,208,295 1,241,343 Goodwill— 359,847 Property, plant, and equipment, net96,595 151,470 Operating lease right-of-use assets4,028 2,699 Other long-term assets667 652 Total assets$1,789,474 $2,294,115 LIABILITIES, MEZZANINE SHAREHOLDERS' EQUITY, AND SHAREHOLDERS' EQUITYCurrent liabilitiesAccounts payable$1,045 $3,092 Accrued liabilities10,090 7,407 Due to related parties29,459 6,537 Operating lease liabilities, current portion1,025 683 Finance lease liabilities, current portion187 187 Earnout Shares liability 21 — Total current liabilities41,827 17,906 Earnout Shares liability— 1,958 Warrant liability7,641 81,283 Asset retirement obligation3,427 3,265 Non-current operating lease liabilities2,993 2,125 Non-current finance lease liabilities28 110 Tax Receivable Agreement liability— 20,974 Deferred taxes3,079 4,306 Total liabilities58,995 131,927 Commitments and contingencies (Note 14)

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 Balance Sheets (Unaudited) (Continued) 

In thousands, except par value

June 30,December 31,20252024Mezzanine shareholders' equityRedeemable non-controlling interests in subsidiary1,114,279 1,