NET Power Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 06/07/23 | FY 12/31/22 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $0 | $250,000 | — | — | $580,000 |
| Cost of revenue | $0 | $31,000 | — | — | — |
| Gross profit | $0 | $219,000 | — | — | $305,000 |
| Research and development | $99.5M | $63.9M | — | — | — |
| Operating expenses | $1.8B | $181.5M | — | — | $50.3M |
| Operating income | -$1.8B | -$181.3M | — | — | -$50.0M |
| Pretax income | -$1.7B | -$175.2M | — | — | — |
| Income tax expense | -$4.3M | -$10.6M | — | — | $0 |
| Net income | -$578.6M | -$49.2M | — | — | -$54.8M |
| Balance Sheet | |||||
| Cash and equivalents | $199.4M | $329.2M | $536.9M | $7.9M | $5.2M |
| Current assets | $343.8M | $513.0M | $640.8M | — | $7.5M |
| Total assets | $599.7M | $2.3B | $2.5B | — | $78.1M |
| Current liabilities | $47.5M | $17.9M | $12.0M | — | $8.5M |
| Total liabilities | $64.5M | $131.9M | $140.1M | — | $13.7M |
| Stockholders' equity | $203.9M | $655.6M | $785.0M | — | -$39.3M |
| Cash Flow Statement | |||||
| Cash from operations | -$120.8M | -$31.6M | — | — | -$16.6M |
| Depreciation and amortization | $62.4M | $81.6M | — | — | $13.4M |
| Stock-based compensation | $46.4M | $33.7M | — | — | $12.6M |
| Capital expenditure | $33.2M | $68.7M | — | — | $115,000 |
| Free cash flow | -$154.0M | -$100.3M | — | — | -$16.7M |
| Impairments | $1.5B | $0 | $0 | — | $0 |
Shares outstanding 224.8M · Free float 7.2%
Annual filing data through FY ended December 31, 2025; float as of July 16, 2026.