NPWR

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NET Power Inc. Class A

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Key Metrics

Previous Close: $1.67
52-Week Range: $1.35 – $5.20
Market Cap: $146.88M
P/E (TTM): —
EPS (TTM): -6.43
Dividend Yield: —

Advanced Metrics

Price/Book: 1.76
PEG Ratio: —
Return on Equity: -141.98%
Return on Assets: -10.65%
Gross Margin: 0.00%
Operating Margin: 0.00%
Profit Margin: 0.00%
Current Ratio: 17.80
Debt/Equity: 0.01
Total Debt: $3.30M
Free Cash Flow: $-108.60M
Revenue Growth: —
Earnings Growth: —
Enterprise Value: $71.08M

NPWR Income statement, annual periods, in USD
USD	FY2022	FY2024	FY2025
Revenue	$580.00K	$250.00K	$0.00
Cost of Revenue	$275.00K	$31.00K	$0.00
Gross Profit	$305.00K	$219.00K	$0.00
Research & Development	$18.95M	$65.78M	$171.89M
Selling, General & Admin	$17.99M	$34.13M	$45.26M
Operating Expenses	$50.33M	$181.54M	$279.53M
Operating Income	-$50.02M	-$181.32M	-$279.53M
EBITDA	-$36.64M	-$99.70M	-$217.14M
Pretax Income	-$54.78M	-$175.22M	-$1.68B
Income Tax	$0.00	-$10.58M	-$4.30M
Net Income	-$54.78M	-$49.19M	-$578.63M
Diluted EPS	-14.79	-0.67	-7.34
Diluted Shares	3.70M	73.40M	78.82M

NPWR Cash Flow statement, annual periods, in USD
USD	FY2022	FY2024	FY2025
Operating Cash Flow	-$16.63M	-$31.65M	-$120.78M
Capital Expenditure	-$115.00K	-$69.85M	-$34.44M
Free Cash Flow	-$16.75M	-$101.50M	-$155.22M
Depreciation & Amortisation	$13.17M	$81.62M	$62.39M
Stock-Based Compensation	$12.62M	$33.67M	$46.43M
Investing Cash Flow	-$115.00K	-$168.67M	-$8.80M
Financing Cash Flow	$21.47M	-$4.93M	-$230.00K
Dividends Paid	$0.00	$0.00	—
Share Repurchases	$0.00	$0.00	—
Net Change in Cash	$4.72M	-$205.25M	-$129.82M

NPWR Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$0.00	$0.00	$0.00	$0.00	$0.00
Cost of Revenue	$0.00	$0.00	$0.00	$0.00	—
Gross Profit	$0.00	$0.00	$0.00	$0.00	—
Research & Development	$27.09M	$53.82M	$34.58M	$56.41M	$20.70M
Selling, General & Admin	$9.88M	$15.07M	$10.50M	$9.80M	$10.07M
Operating Expenses	$58.66M	$90.56M	$60.66M	$69.66M	$34.19M
Operating Income	-$58.66M	-$90.56M	-$60.66M	-$69.66M	-$34.19M
EBITDA	-$36.97M	-$68.89M	-$44.92M	-$66.21M	-$30.78M
Pretax Income	-$373.19M	-$83.67M	-$1.16B	-$59.89M	-$25.81M
Income Tax	$397.00K	-$1.62M	-$1.18M	-$1.90M	$0.00
Net Income	-$119.35M	-$28.14M	-$411.50M	-$19.64M	-$9.86M
Diluted EPS	-1.55	-0.36	-5.28	—	-0.12
Diluted Shares	77.00M	77.70M	77.88M	—	85.38M

NPWR Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$300.03M	$284.02M	$229.31M	$199.43M	$133.15M
Receivables	$5.13M	$1.73M	$1.47M	$1.38M	$845.00K
Current Assets	$497.92M	$408.51M	$369.59M	$343.76M	$311.06M
Total Assets	$1.84B	$1.79B	$629.89M	$599.70M	$542.82M
Current Liabilities	$21.37M	$41.83M	$22.29M	$47.47M	$13.06M
Total Debt	$2.76M	$4.23M	$4.01M	$3.79M	$3.55M
Total Liabilities	$40.39M	$58.99M	$47.41M	$64.50M	$24.95M
Retained Earnings	-$235.39M	-$263.54M	-$675.03M	-$694.67M	-$704.53M
Shareholders' Equity	$637.21M	$616.20M	$143.76M	$203.90M	$205.32M
Working Capital	$476.55M	$366.68M	$347.30M	$296.30M	$298.00M

NPWR Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$20.37M	-$24.60M	-$48.01M	-$27.80M	-$51.10M
Capital Expenditure	-$9.44M	-$3.41M	-$3.31M	-$18.27M	-$8.31M
Free Cash Flow	-$29.82M	-$28.01M	-$51.31M	-$46.08M	-$59.41M
Depreciation & Amortisation	$21.69M	$21.51M	$15.74M	$3.45M	$3.33M
Stock-Based Compensation	$10.20M	$13.91M	$11.66M	$10.68M	$8.84M
Investing Cash Flow	-$8.76M	$8.65M	-$6.63M	-$2.07M	-$16.33M
Financing Cash Flow	-$50.00K	-$49.00K	-$65.00K	-$66.00K	-$73.00K
Net Change in Cash	-$29.19M	-$15.99M	-$54.70M	-$29.94M	-$67.51M

Market Snapshot

About

NET Power Inc. is a clean energy technology company developing zero-emission natural gas power generation systems. The company has pioneered the Allam-Fetvedt Cycle, a breakthrough thermodynamic process that generates electricity from natural gas while capturing all carbon dioxide emissions for sequestration or industrial use. NET Power aims to provide reliable, cost-competitive, zero-emission power that can replace conventional fossil fuel generation without requiring renewable intermittency solutions.