Company: NPWR-WT
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001845437-25-000061
Chunk: 3

Company: NET Power Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 2
Chunk 3
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15,580 20,210 (4,630)(23)%Total operating expenses1,156,497 47,256 Operating loss(1,156,497)(47,245)Other income (expense)Interest income4,835 7,992 (3,157)(40)%Change in Earnout Shares liability and Warrant liability(9,323)27,690 (37,013)(134)%Other income2 3 (1)(33)%Net other income (expense)(4,486)35,685 Net loss before income tax(1,160,983)(11,560)Income tax benefit1,177 4,746 (3,569)(75)%Net loss after income tax(1,159,806)(6,814)Net loss attributable to non-controlling interests(748,308)(7,632)Net income (loss) attributable to NET Power Inc.$(411,498)$818 

General and administrative

General and administrative expenses consist primarily of personnel-related expenses associated with our general and administrative organization and professional fees for legal, accounting, information technology, and other consulting services. General and administrative expenses increased by $0.7 million, or 8%, for the three months ended September 30, 2025, as compared to the same period in 2024. This increase was primarily due to  greater professional fees for engineering and tax consulting and legal fees. Additionally, we incurred higher compensation expense due to stock-based compensation awards granted during 2025 and growth in employee headcount for the three months ended September 30, 2025, as compared to the same period in 2024.

Sales and marketing

Sales and marketing expenses consist primarily of personnel-related and consultant costs directly associated with our sales and marketing activities, which include general publicity efforts for the Company. Sales and marketing expenses increased by $0.4 million, or 35%, for the three months ended September 30, 2025, as 

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compared to the same period in 2024. This increase was due to higher professional fees and growth in employee headcount.

Research and development

Research and development (“R&D”) expenses consist primarily of labor expenses and fees paid to third parties working on and testing specific aspects of our technology, including testing at our Demonstration Plant and development activities under the BHES JDA. R&D expenses increased by $7.2 million, or 42%, for the three months ended September 30,