NET Power Inc. (NPWR)
It posted a net loss of $521.3M. In fiscal 2025 capital spending exceeded operating cash flow by $154M. At June 30, 2026 it held $117.9M in cash. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on August 13, 2026.
Key facts about NET Power Inc.
- Net worth
- NET Power Inc. has a market value (market cap) of $187.8M at the latest share price, and shareholders' equity of $83.5M on its balance sheet at June 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $0 (-100.0% year on year), with a net loss of $578.6M.
- Cash flow
- In fiscal 2025 operations used $120.8M of cash.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on August 13, 2026 and covers the period to June 30, 2026. Open on SEC EDGAR
- Next earnings report
- NET Power Inc.'s next report is expected around November 12, 2026. That is an estimate from its filing rhythm, not a date the company has announced.
What NET Power Inc. does
NET Power Inc. is registered with the SEC under industry code SIC 3620 (Electrical Industrial Apparatus). Its shares trade on NYSE under the ticker NPWR.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $0 | -$578.6M | -$7.34 | -$154M |
| 2024 | $250K | -$49.2M | -$0.67 | -$100.3M |
| 2022 | $580K | -$54.8M | -$14.79 | -$16.7M |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Latest SEC filings
What NET Power Inc. has filed recently, newest first. Each links to the original document on SEC EDGAR.
- October 22, 2026
- September 11, 2026
- September 3, 2026
- August 17, 2026Activist stake changed SCHEDULE 13D/A
- August 13, 2026
- August 13, 2026
- June 5, 2026
- May 14, 2026Activist stake changed SCHEDULE 13D/A
- May 11, 2026
- May 11, 2026
Insider trades
What the people running NET Power Inc. did with its shares, from the Form 4 filings they must send the SEC within two business days.
Insiders sold $4.5M worth of shares in the last 90 days and bought none on the open market.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| September 9, 2026 | Npeh, LLC10% owner | Sold | 150,000 | $276.1K |
| September 9, 2026 | 8 Rivers Capital, LLC10% owner | Soldindirect | 150,000 | $276.1K |
| September 8, 2026 | Npeh, LLC10% owner | Sold | 100,000 | $193.5K |
| September 8, 2026 | 8 Rivers Capital, LLC10% owner | Soldindirect | 100,000 | $193.5K |
| August 26, 2026 | 8 Rivers Capital, LLC10% owner | Soldindirect | 41,350 | $79.1K |
| August 26, 2026 | Npeh, LLC10% owner | Sold | 41,350 | $79.1K |
| August 25, 2026 | 8 Rivers Capital, LLC10% owner | Soldindirect | 201,550 | $384.3K |
| August 25, 2026 | Npeh, LLC10% owner | Sold | 201,550 | $384.3K |
Who owns NPWR
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| SK Inc.13D, may seek influence with 3 related filers | 28.3% | November 26, 2024 |
| 8 Rivers Capital, LLC13D, may seek influence with 3 related filers | 17.86% | August 17, 2026 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 121 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| Share Andrew L. | 9,767,500 | 0 |
| HITE Hedge Asset Management LLC | 2,852,670 | +89,246 |
| Adage Capital Partners GP, L.L.C. | 2,840,000 | +1,300,000 |
| BlackRock, Inc. | 2,416,294 | +273,378 |
| PEAK6 LLC | 1,985,754 | -2,461 |
| Vanguard Capital Management LLC | 1,802,372 | +158,577 |
| Defiance ETFs, LLC | 1,555,837 | +1,022,584 |
| Tidal Investments LLC | 1,546,562 | +1,013,309 |
| Sourcerock Group LLC | 1,400,110 | -104,016 |
| Geode Capital Management, LLC | 1,006,014 | +145,628 |
| Argentarii, LLC | 746,799 | -1,850 |
| Two Sigma Investments, LP | 660,570 | -419,711 |
| State Street Corp | 624,238 | +10,704 |
| UBS Group AG | 610,961 | +241,088 |
| D. E. Shaw & Co., Inc. | 412,502 | +177,105 |
| Tudor Investment Corp ET AL | 397,515 | -33,638 |
| Aqr Capital Management LLC | 385,283 | +231,790 |
| Renaissance Technologies LLC | 354,206 | -349,594 |
| Northern Trust Corp | 334,814 | +42,790 |
| Vanguard Portfolio Management LLC | 324,611 | +59,912 |
Insiders
7 insiders reported holding 38,194,165 shares in total, about $31.9M at the last price.
| Holder | Shares |
|---|---|
| 8 Rivers Capital, LLC10% owner | 18,479,88018,479,880 held indirectly |
| Npeh, LLC10% owner | 18,479,880 |
| Shuman Ned LelandChief Financial Officer | 529,801 |
| Alexander RalphDirector | 176,151 |
| Peterson Carol R.Director | 176,151 |
| Kelliher Joseph TDirector | 176,151 |
| Veltmann AlejandraDirector | 176,151 |
Questions about NPWR
What does NET Power Inc. do?
NET Power Inc. is a company in the Energy sector, listed on NYSE as NPWR. Its shares trade on NYSE under the ticker NPWR.
What is NET Power Inc.'s net worth?
NET Power Inc. has a market value (market cap) of $187.8M at the latest share price, and shareholders' equity of $83.5M on its balance sheet at June 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is NET Power Inc. profitable?
No. Over the twelve months to June 30, 2026 it reported a net loss of $521.3M.
When did NET Power Inc. last report?
Its most recent periodic report is the quarterly report (10-Q) filed on August 13, 2026. It covers the period to June 30, 2026. Its newest filing of any kind is the insider trade from November 6, 2026.
When is NET Power Inc.'s next earnings report?
NET Power Inc.'s next report is expected around November 12, 2026. That is an estimate from its filing rhythm, not a date the company has announced.
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Where the numbers come from
Financial figures are the values NET Power Inc. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.