Company: NPWR-WT
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001845437-25-000053
Chunk: 61

Company: NET Power Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 61
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 — 415,897 n/mDepreciation, amortization, and accretion43,356 40,079 3,277 8 %Total operating expenses565,107 83,846 Operating loss(565,107)(83,638)Other incomeInterest income11,345 16,719 (5,374)(32)%Change in Earnout Shares liability and Warrant liability75,580 1,671 73,909 4,423 %Change in Tax Receivable Agreement liability21,317 — 21,317 n/aOther income6 8 (2)(25)%Net other income108,248 18,398 Net loss before income tax(456,859)(65,240)Income tax benefit1,226 6,391 (5,165)(81)%Net loss after income tax(455,633)(58,849)Net loss attributable to non-controlling interests(308,141)(43,160)Net loss attributable to Net Power Inc.$(147,492)$(15,689)

General and administrative

General and administrative expenses increased by $8.2 million, or 58%, for the six months ended June 30, 2025, as compared to amounts for the six months ended June 30, 2024. This increase was primarily due to $3.1 million of severance costs and $1.1 million of share-based compensation related to the termination of certain management team members. Growth in employee headcount and higher stock based compensation also contributed to an overall increase in compensation expense. Additionally, we incurred greater professional fees for engineering, accounting, and legal services as well as higher information technology costs in the six months ended June 30, 2025, as compared to the six months ended June 30, 2024.

Sales and marketing

Sales and marketing expenses consist primarily of personnel-related costs and consultants costs directly associated with our sales and marketing activities, which include general publicity efforts for the Company. Sales and marketing expenses increased by $1.1 million, or 65%, for the six months ended June 30, 2025, as 

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compared to the six months ended June 30, 2024. This increase was primarily attributable to increased headcount as well as severance costs and related accelerated stock-based compensation.

Research and development

R&D expenses consist primarily of labor expenses and fees paid to third parties working on and testing specific