NEXT on Nasdaq
NextDecade Corp
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Last updated Oct 18, 2026.
Overview
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Financial statements
Every line of the income statement in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenues | $0 | $0 | $0 |
| General and administrative expense | $202.3M | $150.1M | $111.5M |
| Development expense | $8.0M | $8.3M | $4.9M |
| Depreciation and amortization expense | $12.1M | $12.7M | $6.3M |
| Other | $3.5M | $0 | $0 |
| Total operating expenses | $225.9M | $171.1M | $122.7M |
| Total operating loss | -$225.9M | -$171.1M | -$122.7M |
| Derivative (loss) gain, net | -$11.0M | $586.5M | -$44.8M |
| Interest expense | -$170.0M | -$87.5M | -$50.3M |
| Loss on debt extinguishment and modification cost | -$30.1M | -$49.3M | -$9.5M |
| Other income (expense), net | $7.4M | -$1.2M | $5.6M |
| Total other income (expense) | -$203.7M | $448.5M | -$99.0M |
| Net (loss) income | -$429.6M | $277.4M | -$221.6M |
| Less: net (loss) income attributable to non-controlling interest | -$123.2M | $339.2M | -$59.4M |
| Less: preferred stock dividends | $0 | $0 | $20.5M |
| Net loss attributable to common stockholders | -$306.4M | -$61.8M | -$182.7M |
| Net loss per common share - basic (in usd per share) | -$1.17 | -$0.24 | -$0.94 |
| Net loss per common share - diluted (in usd per share) | -$1.17 | -$0.24 | -$0.94 |
| Weighted average shares outstanding - basic (in shares) | 262.2M shares | 258.5M shares | 194.6M shares |
| Weighted average shares outstanding - diluted (in shares) | 262.2M shares | 258.5M shares | 194.6M shares |
Every line of the balance sheet in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $143.8M | $148.1M | |
| Restricted cash | $563.3M | $244.6M | |
| Prepaid expenses and other current assets | $11.0M | $19.8M | |
| Total current assets | $718.0M | $412.6M | |
| Property, plant and equipment, net | $10.6B | $5.0B | |
| Operating lease right-of-use assets | $162.5M | $166.1M | |
| Deferred financing fees | $423.1M | $317.8M | |
| Derivatives | $532.2M | $472.1M | |
| Other non-current assets | $21.7M | $15.6M | |
| Total assets | $12.4B | $6.4B | |
| Accounts payable | $443.9M | $244.6M | |
| Operating leases | $3.9M | $2.9M | |
| Accrued and other current liabilities | $888.2M | $347.6M | |
| Total current liabilities | $1.3B | $595.1M | |
| Debt, net | $8.5B | $3.9B | |
| Operating leases | $142.3M | $144.2M | |
| Derivatives - noncurrent liabilities | $135.5M | $0 | |
| Total liabilities | $10.1B | $4.7B | |
| Common stock, $0.0001 par value, 480.0 million authorized: 264.8 million and 260.2 million outstanding, respectively | $26.0K | $26.0K | |
| Treasury stock: 4.9 million and 3.1 million respectively, at cost | -$37.9M | -$20.9M | |
| Preferred stock, $0.0001 par value, 0.5 million authorized after designation of the convertible preferred stock: none outstanding | $0 | $0 | |
| Additional paid-in-capital | $893.1M | $852.1M | |
| Accumulated deficit | -$760.0M | -$453.5M | |
| Total stockholders equity | $95.3M | $377.6M | |
| Non-controlling interest | $2.2B | $1.4B | |
| Total equity | $2.3B | $1.7B | $740.4M |
| Total liabilities and equity | $12.4B | $6.4B |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net (loss) income | -$429.6M | $277.4M | -$221.6M |
| Depreciation | $1.8M | $1.9M | $168.0K |
| Share-based compensation expense | $39.2M | $19.9M | $26.6M |
| Derivative (gain) loss | $11.0M | -$586.5M | $44.8M |
| Derivative settlements | $21.3M | $48.7M | $4.1M |
| Amortization of leases | $10.3M | $4.7M | $3.0M |
| Loss on debt extinguishment and modification cost | $30.1M | $49.3M | $9.5M |
| Amortization of debt issuance costs | $80.5M | $65.3M | $41.4M |
| Interest elected to be paid-in-kind | $25.9M | $0 | $0 |
| Other | $3.4M | $3.5M | $22.6M |
| Prepaid expenses and other current assets | -$4.0M | -$854.0K | -$940.0K |
| Accounts payable | $2.2M | -$2.2M | $4.1M |
| Operating leases | -$7.6M | -$2.1M | -$179.0K |
| Accrued expenses and other liabilities | $46.2M | $25.3M | -$7.1M |
| Net cash used in operating activities | -$169.4M | -$95.6M | -$73.6M |
| Acquisition of property, plant and equipment | -$4.8B | -$2.6B | -$1.7B |
| Acquisition of other non-current assets | -$6.1M | -$6.4M | -$15.2M |
| Net cash used in investing activities | -$4.9B | -$2.6B | -$1.8B |
| Proceeds from debt issuance | $4.7B | $3.5B | $2.1B |
| Receipt of equity commitments | $981.7M | $676.0M | $457.7M |
| Proceeds from sale of common stock | $0 | $0 | $254.4M |
| Repayment of debt | $0 | -$1.3B | -$233.0M |
| Costs associated with repayment of debt | $0 | -$13.4M | $0 |
| Debt and equity issuance costs | -$313.5M | -$72.8M | -$494.3M |
| Debt modification costs | -$15.6M | $0 | $0 |
| Preferred stock dividends | $0 | $0 | -$53.0K |
| Shares repurchased related to share-based compensation | -$16.9M | -$6.7M | -$9.6M |
| Net cash provided by financing activities | $5.3B | $2.8B | $2.1B |
| Net increase in cash, cash equivalents and restricted cash | $314.3M | $98.3M | $231.7M |
Former names
Recent filings
- Oct 1, 20268-K
- Sep 11, 20264
- Sep 11, 20264
- Sep 11, 20264
- Sep 2, 20264
- Sep 2, 20264
- Sep 2, 20264
- Sep 2, 20264
- Sep 2, 20264
- Jul 30, 202610-Q
- Jul 30, 2026S-8
- Jul 13, 20264
- Jul 13, 20264
- Jul 10, 20263
- Jul 2, 20268-K
Every filing from the last three years, summarized. The full record is on SEC EDGAR.1
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1SEC EDGARNextDecade Corp filings on SEC EDGAR
- 2SEC EDGARNextDecade Corp filings on SEC EDGAR
- 3SEC EDGARNextDecade Corp 10-K for fiscal 2025
- 4SEC EDGARNextDecade Corp 10-K for fiscal 2019
- 5SEC EDGARNextDecade Corp 10-K for fiscal 2020
- 6SEC EDGARNextDecade Corp 10-K for fiscal 2021
- 7SEC EDGARNextDecade Corp 10-K for fiscal 2022
- 8SEC EDGARNextDecade Corp 10-Q for fiscal 2026
- 9SEC EDGARNextDecade Corp 10-Q for fiscal 2026
- 10SEC EDGARNextDecade Corp 10-K for fiscal 2023