Quarterly ResultMay 11, 2026, 04:27 PM
NET Power Q1 Net Loss Narrows to $9.86M; Shifts Tech Focus
AI Summary
NET Power Inc. reported a significant reduction in its net loss attributable to the company, narrowing to $9.86 million in the first quarter of 2026 from $119.35 million in the same period last year. This improvement was largely due to the absence of the substantial impairment charges recorded in Q1 2025. However, net cash used in operating activities increased to $51.10 million, and cash and cash equivalents decreased to $133.15 million. The company also announced a strategic shift, pausing the development of its Oxy-Combustion Cycle to focus resources on the Clean Gas Product.
Key Highlights
- Net loss attributable to NET Power Inc. narrowed to $9.86 million in Q1 2026 from $119.35 million in Q1 2025.
- Operating loss significantly improved to $34.19 million in Q1 2026 from $474.55 million in Q1 2025.
- Total operating expenses decreased to $34.19 million in Q1 2026, down from $474.55 million in Q1 2025.
- Net cash used in operating activities increased to $51.10 million in Q1 2026 from $20.37 million in Q1 2025.
- Cash and cash equivalents decreased to $133.15 million as of March 31, 2026, from $199.43 million at December 31, 2025.
- Loss per share of Class A Common Stock improved to $(0.12) in Q1 2026 from $(1.55) in Q1 2025.
- Company paused development of its Oxy-Combustion Cycle technology to focus on the Clean Gas Product.
- Recognized $1.2 million in additional share-based compensation expense due to accelerated vesting for employee terminations.