NET Power Inc. (NPWR) Financial Statements
Industry: Electrical Industrial Apparatus
In fiscal 2025, NET Power reported revenue of $0, down 100.0% from $250,000 the year before. Net income was -$578.6M, or -$7.34 per diluted share. Operating activities generated -$120.8M of cash, leaving -$154.0M of free cash flow. At fiscal year end, NET Power held $599.7M in total assets against $64.5M in total liabilities, including $199.4M of cash and equivalents.
Open the full interactive NET Power financials → Quarterly statements, key ratios, valuation history and price charts.
NET Power Key Stats
| Share Price | $1.19 |
|---|---|
| Market Cap | $105.2M |
| Revenue YoY Growth | -100.0% |
| 52-Week Range | $1.19 – $4.85 |
| Shares Outstanding | 88.4 million (basic, 2026 Q2) |
NET Power Income Statement
| FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|
| Revenue | $0 | $175,000 | $250,000 | $0 |
| Gross Profit | — | $172,000 | $219,000 | $0 |
| Operating Income | -$5.9M | -$227.7M | -$181.3M | -$1.79B |
| Pre-Tax Income | $4.1M | -$82.9M | -$175.2M | -$1.68B |
| Income Tax | — | -$5.7M | -$10.6M | -$4.3M |
| Net Income | $4.1M | -$77.2M | -$49.2M | -$578.6M |
| Diluted EPS | $0.09 | — | -$0.67 | -$7.34 |
NET Power Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 |
| Net Income | -$411.5M | -$19.6M | -$9.9M | -$80.3M |
| Diluted EPS | -$5.28 | -$0.25 | -$0.12 | -$0.91 |
NET Power Balance Sheet
| FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|
| Cash & Equivalents | — | $536.9M | $329.2M | $199.4M |
| Current Assets | $1.9M | $640.8M | $513.0M | $343.8M |
| Total Assets | $351.9M | $2.47B | $2.29B | $599.7M |
| Current Liabilities | $5.0M | $12.0M | $17.9M | $47.5M |
| Total Liabilities | $41.6M | $140.1M | $131.9M | $64.5M |
| Shareholders' Equity | -$39.3M | $785.0M | $655.6M | $203.9M |
NET Power Cash Flow Statement
| FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|
| Cash From Operations | -$857,532 | -$49.0M | -$31.6M | -$120.8M |
| Cash From Investing | — | -$103.7M | -$168.7M | -$8.8M |
| Cash From Financing | -$85,000 | $335.4M | -$4.9M | -$230,000 |
| Free Cash Flow | — | -$60.6M | -$100.3M | -$154.0M |
Figures from NET Power's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full NET Power financials page for every line item.
NET Power Company Profile
| Ticker | NPWR |
|---|---|
| Exchange | NYSE |
| Industry | Electrical Industrial Apparatus |
| Headquarters | Houston, Texas |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Emerging growth company |
| SEC CIK | 0001845437 |
Frequently Asked Questions
What was NET Power's revenue in fiscal 2025?
NET Power (NPWR) reported revenue of $0 for fiscal 2025.
What is NET Power's annual revenue history?
NET Power's annual revenue by fiscal year: 2022: $0; 2023: $175,000; 2024: $250,000; 2025: $0.
What was NET Power's net income in fiscal 2025?
NET Power reported net income of -$578.6M for fiscal 2025.
What was NET Power's earnings per share (EPS) in fiscal 2025?
NET Power's diluted EPS was -$7.34 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did NET Power generate in fiscal 2025?
NET Power generated -$154.0M of free cash flow in fiscal 2025.
What was NET Power's revenue last quarter?
In its most recent reported quarter (2026 Q2), NET Power reported revenue of $0.
How many shares of NET Power are outstanding?
NET Power reported a weighted average of 88.4 million basic shares outstanding in 2026 Q2.
What is NET Power's market cap?
Based on its latest closing price, NET Power (NPWR) has a market capitalization of about $105.2M.
When does NET Power's fiscal year end?
NET Power's fiscal year end, as registered with the SEC, is December 31.
Where is NET Power headquartered?
NET Power lists its business address in Houston, Texas in its SEC filings.