Company: NPWR-WT
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001845437-25-000053
Chunk: 37

Company: NET Power Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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746 (118,225)Net loss— — — — — (4,268)— (4,268)(12,949)Balance at June 30, 202472,584 $7 141,841 $14 $813,083 $(82,542)$(67)$730,495 $1,510,864 

The accompanying notes are an integral part of these condensed consolidated financial statements.

7

Table of Contents

NET Power Inc.

Condensed Consolidated Statements of Cash Flows (Unaudited)

In thousands

Six Months Ended June 30,20252024Cash flows from operating activities:Net loss after income tax$(455,633)$(58,849)Adjustments to reconcile net loss to net cash used in operating activities:Depreciation, amortization, and accretion43,356 40,079 Goodwill impairment and other charges415,897 — Non-cash income(1,025)(1,376)Deferred taxes(1,227)(6,391)Change in fair value of Earnout Shares liability and Warrant liability(75,580)(1,671)Change in Tax Receivable Agreement liability(21,317)— Share-based compensation expense24,103 14,800 Changes in operating assets and liabilities:Accounts receivable, net— (185)Interest receivable2,896 1,611 Prepaid expenses and other current assets(1,606)(825)Other long-term assets(15)(420)Accounts payable(2,047)1,367 Accrued liabilities4,302 935 Due to related parties22,922 88 Net cash used in operating activities(44,974)(10,837)Cash flows from investing activities:Purchases of available-for-sale securities(130,602)(121,656)Maturities of available-for-sale securities43,350 20,750 Maturities of short-term investments100,000 — Capitalized software(834)(412)Purchase of property, plant and equipment(12,023)(17,273)Net cash used in investing activities(109)(118,591)Cash flows from financing activities:Issuance of Class A Common Stock, including exercise of Warrants— 61 Payments on finance lease obligations(99)— Net cash (used in) provided by financing activities(99)61 Net decrease  in cash, cash equivalents, and restricted