NET Power Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	-	0.25	0.18	0.58	2.1	0.05
Revenue Growth (YoY)	-	42.86%	-69.83%	-72.42%	4573.33%	-
Cost of Revenue	42.23	1.96	1.11	0.29	0.83	0.04
Gross Profit	-42.23	-1.71	-0.93	0.29	1.27	0.01
Selling, General & Admin	44.28	34.13	40.27	17.99	16.14	14.59
Research & Development	93.53	63.85	40.03	18.94	10.11	7.39
Operating Expenses	218.08	179.61	131.07	50.32	38.98	36.41
Operating Income	-260.31	-181.32	-132.01	-50.03	-37.71	-36.4
Interest Expense	-	-	-0.03	-4.79	-0.58	-
Interest & Investment Income	22.86	31.39	19.47	-	-	0
Other Non Operating Income (Expenses)	21.68	0.36	0	0.04	0	-0.01
EBT Excluding Unusual Items	-215.77	-149.57	-112.56	-54.78	-38.29	-36.4
Merger & Restructuring Charges	-	-	-16.6	-	-	-
Other Unusual Items	11.24	-25.66	-52.54	-	-	-
Pretax Income	-1,716	-175.22	-181.7	-54.78	-38.29	-36.4
Income Tax Expense	-1.85	-10.58	-5.71	-	-	-
Earnings From Continuing Operations	-1,714	-164.64	-175.99	-54.78	-38.29	-36.4
Minority Interest in Earnings	1,121	115.45	98.76	-	-	-
Net Income	-593.31	-49.19	-77.23	-54.78	-38.29	-36.4
Net Income to Common	-593.31	-49.19	-77.23	-54.78	-38.29	-36.4
Shares Outstanding (Basic)	77	73	41	4	4	3
Shares Outstanding (Diluted)	77	73	41	4	4	3
Shares Change (YoY)	6.73%	78.19%	1012.42%	4.14%	2.45%	-
EPS (Basic)	-7.69	-0.67	-1.87	-14.79	-10.77	-10.49
EPS (Diluted)	-7.69	-0.67	-1.87	-14.79	-10.77	-10.49
Free Cash Flow	-150.17	-100.3	-60.65	-16.74	-20.33	-25.2
Free Cash Flow Per Share	-1.95	-1.37	-1.47	-4.52	-5.72	-7.26
Gross Margin	-	-	-	50.00%	60.58%	17.78%
Operating Margin	-	-72528.40%	-75432.00%	-8625.00%	-1793.11%	-80882.22%
Profit Margin	-	-19676.40%	-44132.57%	-9444.48%	-1820.54%	-80897.78%
Free Cash Flow Margin	-	-40120.00%	-34657.14%	-2887.07%	-966.71%	-55997.78%
EBITDA	-247.37	-167.03	-118.97	-36.66	-24.97	-23.39
D&A For EBITDA	12.94	14.29	13.04	13.36	12.74	13.01
EBIT	-260.31	-181.32	-132.01	-50.03	-37.71	-36.4

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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