Company: NPWR-WT
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001845437-25-000027
Chunk: 3

Company: NET Power Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 3
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872,545 $38 $(235,394)$637,211 $1,161,316 

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

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NET Power Inc.

Condensed Consolidated Statements of Mezzanine Shareholders' Equity and Shareholders' Equity (Continued) (Unaudited)

In thousands

Class A Common StockClass B Common StockAdditional Paid-in CapitalAccumulated Other Comprehensive IncomeAccumulated DeficitTotal Shareholders' EquityNon-controlling Interests - Mezzanine EquitySharesAmountSharesAmountBalance at December 31, 202371,278 $7 141,787 $14 $851,841 $— $(66,853)$785,009 $1,545,905 Redemption of Class B Common Stock680 — (680)— 74 — — 74 (74)Issuance of Class A Common Stock13 — — — 4,032 — — 4,032 (4,005)Tax Receivable Agreement, net of deferred taxes— — — — (567)— — (567)— Unrealized gain on investments— — — — — 224 — 224 438 Amortization of share-based payments— — 694 — 647 — — 647 5,622 Adjustment of redeemable non-controlling interest to redemption value— — — — (118,225)— — (118,225)118,225 Net loss— — — — — — (11,421)(11,421)(30,211)Balance at March 31, 202471,970 $7 141,802 $14 $737,802 $224 $(78,274)$659,773 $1,635,900 

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

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NET Power Inc.

Condensed Consolidated Statements of Cash Flows (Unaudited)

In thousands

Three Months Ended March 31,20252024Cash flows from operating activities:Net loss after income tax$(373,586)$(41,632)Adjustments to reconcile net loss to net cash used in operating activities:Depreciation, amortization, and accretion21