NET Power (NYSE:NPWR) Q3 2025 Earnings Call November 14, 2025 08:30 AM ET Company ParticipantsMartin Malloy - Director of Equity ResearchDanny Rice - CEOMarc Horstman - COOBryce Mendes - Director of Investor RelationsNate Pendleton - VPConference Call ParticipantsWade Suki - Equity AnalystBetty Jung - AnalystOperatorGreetings. Welcome to the NET Power third quarter 2025 earnings call. At this time, all participants are in a listen-only mode. The question-and-answer session will follow the formal presentatio ...

NET Power (NYSE:NPWR) Q3 2025 Earnings Call November 14, 2025 08:30 AM ET Company ParticipantsMartin Malloy - Director of Equity ResearchDanny Rice - CEOMarc Horstman - COOBryce Mendes - Director of Investor RelationsNate Pendleton - VPConference Call ParticipantsWade Suki - Equity AnalystBetty Jung - AnalystOperatorGreetings. Welcome to the NET Power Third Quarter 2025 earnings call. At this time, all participants are in a listen-only mode. The question-and-answer session will follow the formal presentatio ...

NET Power (NYSE:NPWR) Q3 2025 Earnings Call November 14, 2025 08:30 AM ET Speaker0Greetings. Welcome to the NET Power Third Quarter 2025 earnings call. At this time, all participants are in a listen-only mode. The question-and-answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note this conference is being recorded. I would now like to turn the conference over to Bryce Mendes, Directo ...

Third Quarter Earnings Presentation November 2025 Important notice 3 AI & data center growth: a new era of energy demand Natural gas widely embraced as the primary source of new scalable, dispatchable power 224 292 371 450 513 606 2025 2026 2027 2028 2029 2030 Projected U.S. data center energy consumption (TWh) (1) ~12% of total U.S. power demand in 2030 from data centers Data center developers are prioritizing: 24/7 reliability Rapid scalability Low LCOE Pathways to decarbonize Data center energy surge Nat ...

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Revenue Performance - Net Power reported no revenue for the three months ended September 30, 2025, compared to $12,000 in the same period in 2024, representing a 100% decrease [111]. - Revenue for the nine months ended September 30, 2025 was $0, a decrease of $250,000 or 100% compared to $250,000 in 2024 [123]. Expenses - Research and development expenses increased by $7.2 million, or 42%, for the three months ended September 30, 2025, primarily due to increased activity under the BHES JDA and ongoing validation testing [115]. - Project development expenses surged by $9.8 million, or 4,206%, for the three months ended September 30, 2025, due to costs associated with Project Permian [116]. - General and administrative expenses increased by $0.7 million, or 8%, for the three months ended September 30, 2025, primarily due to higher professional fees and increased employee headcount [112]. - Sales and marketing expenses rose by $0.4 million, or 35%, for the three months ended September 30, 2025, attributed to higher professional fees and growth in employee headcount [113]. - Research and development expenses increased by $29.7 million, or 67%, totaling $73.8 million for the nine months ended September 30, 2025, compared to $44.1 million in 2024 [127]. - Project development expenses surged by $40.3 million, or 2,826%, reaching $41.7 million for the nine months ended September 30, 2025, compared to $1.4 million in 2024 [128]. - General and administrative expenses rose by $8.7 million, or 39%, totaling $31.4 million for the nine months ended September 30, 2025, compared to $22.6 million in 2024 [125]. - Cash used in operating activities increased by $74.3 million, totaling $93.0 million for the nine months ended September 30, 2025, compared to $18.7 million in 2024 [141]. Losses and Impairments - An impairment loss of $1,095.8 million was recognized for the three months ended September 30, 2025, related to long-lived assets [117]. - Operating loss for the nine months ended September 30, 2025 was $1.72 billion, compared to a loss of $130.9 million in 2024 [123]. - Net loss attributable to Net Power Inc. was $559,000 for the nine months ended September 30, 2025, compared to a loss of $14,871 in 2024 [123]. - The company recognized an impairment loss of $1.1 billion related to long-lived assets in the third quarter of 2025 [129]. - An impairment loss of $1,095.8 million was recognized for the three and nine months ended September 30, 2025, indicating significant challenges in asset recoverability [152]. Interest and Tax - Interest income decreased by $3.2 million, or 40%, for the three months ended September 30, 2025, due to lower interest-bearing cash and investment balances [119]. - Interest income decreased by $8.5 million, or 35%, totaling $16.2 million for the nine months ended September 30, 2025, compared to $24.7 million in 2024 [132]. - Income tax benefit was $1.2 million for the three months ended September 30, 2025, compared to $4.7 million for the same period in 2024, reflecting an increase in the Company's valuation allowance [121]. Liquidity and Commitments - Total liquidity as of September 30, 2025 was $421.5 million, down from $530.2 million at the end of 2024 [138]. - As of September 30, 2025, the company has committed to purchase components of industrial machinery totaling $149.1 million, with $66.8 million remaining related to these commitments [150]. Strategic Focus - The Company intends to pause all development work and related expenditures for its first utility-scale power plant (SN1) to focus on new business opportunities in low-carbon gas power solutions [109]. - The total value of the BHES Joint Development Agreement (JDA) is $140 million, with approximately $54.0 million recognized in cash and share-based expenses as of September 30, 2025 [148]. - The company incurred expenses of $1.0 million and $4.9 million related to the BHES JDA Make-Whole Payments for the three and nine months ended September 30, 2025, respectively [148]. - The company expects to remain an emerging growth company (EGC) through the end of 2025, benefiting from an extended transition period for compliance with new financial accounting standards [153].

Financial Performance - Net Power Inc. reported financial results for Q3 2025, with a revenue of $25 million, representing a 15% increase year-over-year[5] - The company achieved a gross margin of 30%, up from 25% in the same quarter last year, indicating improved operational efficiency[5] - Net Power Inc. provided guidance for Q4 2025, projecting revenue between $28 million and $30 million, which would represent a growth of 12% to 20% compared to Q4 2024[5] - Operational costs were reduced by 8% compared to the previous quarter, reflecting effective cost management strategies[5] Customer Growth - User data showed a 20% increase in active customers, reaching a total of 10,000 users by the end of Q3 2025[5] Investment and Development - The company is investing $5 million in R&D for new product development, focusing on advanced energy solutions[5] - The company plans to launch a new product line in Q1 2026, expected to contribute an additional $10 million in revenue in the first year[5] Market Expansion - Market expansion efforts include entering two new states, aiming to increase market share by 10% in the next fiscal year[5] - Net Power Inc. is exploring potential acquisition opportunities to enhance its technology portfolio and expand its service offerings[5] Sustainability Commitment - The company remains committed to sustainability, with 50% of its energy sourced from renewable resources as of Q3 2025[5]

Nov 13, 2025 4:15 PM Eastern Standard Time Net Power Reports Third Quarter 2025 Results and Provides Business Update Conference Call Share DURHAM, N.C.--(BUSINESS WIRE)--Net Power Inc. (NYSE: NPWR) ("Net Power†or the "Company†) today announced its financial and operational results for the third quarter ended September 30, 2025, and outlined an updated strategy that continues to focus on delivering low-carbon intensity power solutions fueled by natural gas. In response to unprecedented near-term demand for ...

Group 1 - The article discusses the analysis of oil and gas companies, focusing on identifying undervalued names within the sector [1] - NET Power (NYSE: NPWR) is characterized as a "work in progress," with its stock trading near its cash balance per share [2] - The oil and gas industry is described as cyclical, requiring patience and experience for successful investment [2]

Core Viewpoint - Bragar Eagel & Squire, P.C. is investigating potential claims against NET Power, Inc. due to a class action complaint alleging breaches of fiduciary duties by the company's board of directors during the specified class period [1][3]. Company Overview - NET Power is a clean energy technology company focused on its "Net Power Cycle" technology, which aims to generate reliable and affordable electricity from natural gas while capturing nearly all emissions [2]. - The company operates a demonstration facility in La Porte, Texas, to validate its technology and is developing its first utility-scale plant, Project Permian, located in the Permian Basin of West Texas [2]. - The estimated cost for Project Permian has increased from approximately $950 million in 2023 to $1.1 billion in 2024, with expectations for the project to be operational by 2026 [2]. Allegations and Complaints - The class action complaint alleges that NET Power's management made materially false and misleading statements regarding the company's operations and prospects, particularly concerning the completion timeline and cost of Project Permian [3]. - Specific allegations include that the company is unlikely to complete Project Permian on schedule and that the project will incur significantly higher costs due to supply chain issues and other challenges [3]. - The complaint asserts that these misrepresentations have negatively impacted the company's business and financial results [3].