Company: NPWR-WT
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001845437-25-000061
Chunk: 53

Company: NET Power Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 53
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— (64,073)Balance at the end of the period$— $359,847 During the second quarter of 2024, the Company completed its estimate of deferred taxes as of the Closing Date and finalized its purchase price allocation, which resulted in a measurement adjustment that reduced goodwill by $64.1 million. Refer to Note 3 — Impairment and other charges for discussion of impairment.

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Definite-Lived Intangible AssetsThe following tables summarize the Company’s definite-lived intangible assets included in the condensed consolidated balance sheets:September 30,December 31,20252024$ in thousandsGross AmountAccumulated AmortizationNet AmountGross AmountAccumulated AmortizationNet AmountDeveloped technology$184,465 $(854)$183,611 $1,345,000 $(104,985)$1,240,015 Software(1)448 (8)440 1,407 (79)1,328 Total definite-lived intangible assets$184,913 $(862)$184,051 $1,346,407 $(105,064)$1,241,343 ___________(1) Software includes $0.1 million and $0.6 million related to software work-in-progress as of September 30, 2025 and December 31, 2024.Refer to Note 3 — Impairment and other charges for discussion of impairments.The following table presents the Company’s amortization expense for the following periods:Three Months Ended September 30,Nine Months Ended September 30,$ in thousands2025202420252024Amortization expense$12,122 $16,837 $45,943 $50,477 The Company does not own or control any intangible assets with indefinite useful lives. The following table presents estimated amortization expense for the next five years and thereafter (in thousands):Remaining 2025$2,644 202610,489 202710,489 202810,518 202910,447 2030 and thereafter139,464 Total$184,051 The Company regularly evaluates whether events or changes in circumstances warrant a revision to the remaining estimated useful lives of its long-lived assets.

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NOTE 7 — Property, Plant, and EquipmentThe following table summarizes the key classifications of property, plant, and equipment included in the condensed consolidated balance sheets:September 30,December 31,$ in thousands20252024Demonstration