NextDecade Corp
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $0 | $0 | $0 | $0 | $0 |
| Research and development | $8.0M | $8.3M | $4.9M | $4.1M | — |
| Operating expenses | $225.9M | $171.1M | $122.7M | $54.5M | $19.5M |
| Operating income | -$225.9M | -$171.1M | -$122.7M | -$54.5M | -$19.5M |
| Interest expense | $170.0M | $87.5M | $50.3M | $0 | — |
| Income tax expense | $0 | — | — | $0 | $0 |
| Net income | -$429.6M | $277.4M | -$221.6M | -$60.1M | -$22.0M |
| Balance Sheet | |||||
| Cash and equivalents | $143.8M | $148.1M | $38.2M | $62.8M | $25.6M |
| Current assets | $718.0M | $412.6M | $314.5M | $63.9M | $26.4M |
| Total assets | $12.4B | $6.4B | $3.3B | $312.4M | $222.1M |
| Current liabilities | $1.3B | $595.1M | $552.4M | $25.4M | $8.2M |
| Total liabilities | $10.1B | $4.7B | $2.6B | $55.6M | $33.8M |
| Total debt | $8.8B | $4.0B | $1.9B | — | — |
| Stockholders' equity | $95.3M | $377.6M | $287.9M | $54.4M | $19.9M |
| Cash Flow Statement | |||||
| Cash from operations | -$169.4M | -$95.6M | -$73.6M | -$40.1M | -$18.0M |
| Depreciation and amortization | $1.8M | $1.9M | $168,000 | $162,000 | $184,000 |
| Stock-based compensation | $39.2M | $19.9M | $26.6M | $7.5M | $4.3M |
| Capital expenditure | $4.8B | $2.6B | $1.7B | $33.8M | $12.1M |
| Free cash flow | -$5.0B | -$2.7B | -$1.8B | -$73.8M | -$30.1M |
| Share repurchases | $16.9M | $6.7M | $9.6M | $3.3M | $284,000 |
Shares outstanding 265.0M · Free float 10.1%
Annual filing data through FY ended December 31, 2025; float as of July 14, 2026.