Company: NPWR-WT
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001845437-25-000061
Chunk: 50

Company: NET Power Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 50
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 CostUnrealized GainFair ValueCorporate bonds$31,267 $122 $31,389 U.S. treasuries24,636 119 24,755 Total$55,903 $241 $56,144 $ in thousandsDecember 31, 2024Current assetsAmortized CostUnrealized GainFair ValueCorporate bonds$11,006 $15 $11,021 Commercial paper8,629 — 8,629 U.S. treasuries58,637 57 58,694 Total$78,272 $72 $78,344 Long-term assetsAmortized CostUnrealized GainFair ValueU.S. treasuries$22,538 $90 $22,628 Total$22,538 $90 $22,628 The cost of securities sold, if any, is based on the specific-identification method. During the three and nine months ended September 30, 2025 and 2024, there were no securities sold. There were no credit losses recognized during the three and nine months ended September 30, 2025 and 2024. The Company established no allowances for credit losses as of September 30, 2025 and December 31, 2024. The Company’s long-term available-for-sale investments mature through June 2027.

NOTE 5 — Fair Value MeasurementsThe following table presents the assets and liabilities that the Company measures at fair value on a recurring basis included in the condensed consolidated balance sheets and indicates the level of the valuation inputs the Company utilized to determine the fair value:September 30,December 31,$ in thousandsLevel20252024AssetsAvailable-for-sale investments1$192,222 $100,972 Short-term investments2— 100,000 Total assets$192,222 $200,972 LiabilitiesPublic Warrants1$6,465 $31,034 Private Placement Warrants310,464 50,249 Earnout Shares355 1,958 Total liabilities$16,984 $83,241 

14

The following table contains a reconciliation of the beginning and ending balances of recurring Level 3 fair value measurements included in the condensed consolidated statements of operations and comprehensive loss:Three Months Ended September 30,Nine Months Ended September 30,$ in thousands2025202420252024Balance of recurring Level 3 liabilities at beginning of period$4,817 $