NPWR Class A NET Power Inc. Class A Common Stock
NYSE · Electrical Equipment · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 13, 2026
$1.39
· of 52w range
· above low
· to high
$1.3552w low
$5.2052w high
P/E
-0.3
EPS
$-7.34
Revenue
$0
your badges
52W Range
$1–$5
Analyst Rating
BUY
Price Target
$3
P/E
-0.3
ROE
-134.6%
Net Profit Margin
·
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NPWR Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$1.39
P/E
-0.3
EPS
$-7.34
Revenue
$0
ROE
-134.6%
52W Range
$1–$5
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue$02022-12-31 → 2025-12-31
EPS$-7.342022-12-31 → 2025-12-31
Free Cash Flow$-154M2024-12-31 → 2025-12-31
Net margin·2024-12-31 → 2024-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | NPWR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E | -0.35Y avg ≈-5.6 | ≈-5.6 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | NPWR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| ROA | -40.0%5Y avg ≈-11.0% | ≈-11.0% | -8.5% | Weak | |
| ROE | -134.6%5Y avg ≈-24.8% | ≈-24.8% | -5.4% | Weak | |
| ROIC | -876.5% | · | -21.1% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | NPWR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Current Ratio (MRQ) | 17.85Y avg ≈19.2 | ≈19.2 | 2.6 | Strong liquidity | |
| Quick Ratio | 4.25Y avg ≈16.2 | ≈16.2 | 1.2 | Strong liquidity |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | NPWR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.0 | · | 0.8 | Weak | |
| Revenue / Employee | ≈$0.00 | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
1207.6%
Next Report
Nov 11, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 13, 2026 | $-0.91 | $-0.07 | -1129.7% |
| March 31, 2026 | May 18, 2026 | $-0.12 | $-0.07 | -64.6% |
| Dec. 31, 2025 | $-0.24 | $-0.09 | -155.9% | |
| Sept. 30, 2025 | $8.78 | $-0.16 | 5635.9% | |
| June 30, 2025 | $-0.36 | $-0.12 | -209.5% | |
| March 31, 2025 | $3.57 | $-0.12 | 3169.6% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue | $0 | $250.0K | · | $580.0K | |
| Cost of Revenue | $0 | $31.0K | · | · | |
| Gross Profit | $0 | $219.0K | · | $305.0K | |
| R&D Expense | $100M | $64M | · | · | |
| SG&A Expense | $40M | $30M | · | $6M | |
| Operating Expenses | $1.79B | $182M | · | $50M | |
| Operating Income | $-1.79B | $-181M | · | $-50M | |
| Interest Income | · | · | · | $5M | |
| Other Non-op | $11.0K | $364.0K | · | $38.0K | |
| Pretax Income | $-1.68B | $-175M | · | · | |
| Income Tax | $-4M | $-11M | · | $0 | |
| Net Income | $-579M | $-49M | · | $-55M | |
| EPS (Basic) | $-7.34 | $-0.67 | · | $-14.79 | |
| EPS (Diluted) | $-7.34 | $-0.67 | · | $-14.79 | |
| Shares (Basic) | 78,822,000 | 73,397,000 | · | 3,702,803 | |
| Shares (Diluted) | 78,822,000 | 73,397,000 | · | 3,702,803 | |
| EBITDA | $-1.73B | $-100M | · | $-6M |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Cash & Equivalents | $199M | $329M | $537M | $5M | |
| Short-term Investments | · | · | $100M | $0 | |
| Receivables | · | $0 | $58.0K | $352.0K | |
| Prepaid Expense | $4M | $2M | $2M | $184.0K | |
| Other Current Assets | · | · | $93.0K | $2M | |
| Current Assets | $344M | $513M | $641M | $7M | |
| PP&E (Net) | $33M | $151M | $97M | $70M | |
| PP&E (Gross) | · | · | $104M | $128M | |
| Accum. Depreciation | · | · | $7M | $59M | |
| Goodwill | $0 | $360M | $424M | $0 | |
| Intangibles | $182M | $1.24B | $1.31B | $263.0K | |
| Other Non-current Assets | $387.0K | $652.0K | $0 | · | |
| Total Assets | $600M | $2.29B | $2.47B | $78M | |
| Accounts Payable | $1M | $3M | $617.0K | $577.0K | |
| Accrued Liabilities | $8M | $14M | $11M | $2M | |
| Current Liabilities | $47M | $18M | $12M | $8M | |
| Capital Leases | $3M | $2M | $2M | $656.0K | |
| Deferred Tax | $0 | $4M | $58M | $0 | |
| Other Non-current Liabilities | · | · | $0 | $2M | |
| Total Liabilities | $64M | $132M | $140M | $14M | |
| Paid-in Capital | $898M | $772M | $852M | $26M | |
| Retained Earnings | $-695M | $-116M | $-67M | $-225M | |
| AOCI | $129.0K | $32.0K | $0 | $17.0K | |
| Stockholders' Equity | $204M | $656M | $785M | $64M | |
| Liabilities + Equity | $600M | $2.29B | $2.47B | $78M | |
| Shares Outstanding | · | · | · | 3,722,355 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| D&A | $62M | $82M | · | $13M | |
| Stock-based Comp | $46M | $34M | · | $13M | |
| Amort. of Intangibles | $49M | $67M | · | $22.0K | |
| Other Non-cash | $349M | $-98M | · | · | |
| Operating Cash Flow | $-121M | $-32M | · | $-17M | |
| CapEx | $33M | $69M | · | $115.0K | |
| Investing Cash Flow | $-9M | $-169M | · | $-115.0K | |
| Debt Issued | · | · | · | $2M | |
| Stock Issued | $141.0K | $0 | · | · | |
| Net Stock Activity | $141.0K | · | · | · | |
| Financing Cash Flow | $-230.0K | $-5M | · | $21M | |
| Taxes Paid | $1.0K | $0 | · | · | |
| Free Cash Flow | $-154M | $-100M | · | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Gross Margin | · | 87.6% | · | · | |
| Operating Margin | · | -72528.4% | · | · | |
| Net Margin | · | -19676.4% | · | · | |
| Pretax Margin | · | -70089.6% | · | · | |
| EBITDA Margin | · | -39879.2% | · | · | |
| ROA | -40.0% | -2.1% | · | 1.2% | |
| ROE | -134.6% | -6.8% | · | -10.4% | |
| ROIC | -876.5% | -26.0% | · | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Current Ratio | 7.2 | 28.7 | 53.3 | 0.4 | |
| Quick Ratio | 4.2 | 18.4 | 53.0 | 0.3 |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | · | |
| Receivables Turnover | · | 8.6 | · | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue / Share | $0.00 | $0.00 | · | · | |
| Cash Flow / Share | $-1.53 | $-0.43 | · | · | |
| EPS (TTM) | $-7.34 | $-0.67 | · | $-14.79 |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue TTM | $0 | $250.0K | · | $580.0K | |
| Net Income TTM | $-579M | $-49M | · | $-55M | |
| P/E | -0.3 | -15.8 | · | -0.7 | |
| Earnings Yield | -321.9% | -6.3% | · | -145.4% |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | · | · | $0 | $0 | $0 | $0 | $0 | $12.0K | $238.0K | $0 | $0 | · | $50.0K | $6.0K | $141.0K | |
| Cost of Revenue | · | · | $0 | $0 | $0 | $0 | $0 | $1.0K | $30.0K | $0 | $0 | · | · | · | · | |
| Gross Profit | · | · | $0 | $0 | $0 | $0 | $0 | $11.0K | $208.0K | $0 | $0 | · | $50.0K | $-1.0K | $92.0K | |
| R&D Expense | $4M | $20M | $26M | $25M | $27M | $23M | $20M | $17M | $15M | $11M | · | · | · | · | · | |
| SG&A Expense | $6M | $9M | $9M | $9M | $14M | $9M | $8M | $8M | $8M | $6M | · | · | $2M | · | $1M | |
| Operating Expenses | $210M | $34M | $70M | $1.16B | $91M | $475M | $50M | $47M | $45M | $39M | $39M | · | $17M | $14M | $12M | |
| Operating Income | $-210M | $-34M | $-70M | $-1.16B | $-91M | $-475M | $-50M | $-47M | $-45M | $-39M | $-39M | · | $-17M | $-24M | $-12M | |
| Interest Income | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $2M | |
| Other Non-op | $3.0K | $3.0K | $2.0K | $2.0K | $5.0K | $2.0K | $355.0K | $3.0K | $6.0K | $0 | $1.0K | · | $2.0K | $-18M | $34.0K | |
| Income Tax | $2.0K | $0 | $-2M | $-1M | $-2M | $397.0K | $557.0K | $-5M | $-2M | $-4M | $-10.0K | · | $0 | $0 | $0 | |
| Net Income | $-80M | $-10M | $-20M | $-411M | $-28M | $-119M | $-34M | $818.0K | $-4M | $-11M | $-31M | · | $-17M | $-46M | $-12M | |
| EPS (Basic) | $-0.91 | $-0.12 | $-0.15 | $-5.28 | $-0.36 | $-1.55 | $-0.46 | $0.01 | $-0.06 | $-0.16 | $-0.44 | · | $-4.55 | $-1.64 | $-10.69 | |
| EPS (Diluted) | $-0.91 | $-0.12 | $-0.15 | $-5.28 | $-0.36 | $-1.55 | $-0.46 | $0.01 | $-0.06 | $-0.16 | $-0.44 | · | $-4.55 | $-1.64 | $-10.69 | |
| Shares (Basic) | 88,405,000 | 85,382,000 | · | 77,883,000 | 77,699,000 | 76,997,000 | · | 73,537,000 | 72,177,000 | 71,895,000 | 68,966,972 | · | 3,748,476 | · | 1,143,430 | |
| Shares (Diluted) | 88,405,000 | 85,382,000 | · | 77,883,000 | 77,699,000 | 76,997,000 | · | 73,537,000 | 72,177,000 | 71,895,000 | 68,966,972 | · | 3,748,476 | · | 1,143,430 | |
| EBITDA | $-210M | $-31M | · | $-1.16B | $-91M | $-453M | · | $-27M | $-25M | $-19M | $-19M | · | $-2M | · | $-1M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $118M | $133M | $199M | $229M | $284M | $300M | $329M | $386M | $405M | $429M | $545M | $649M | $844.7K | $5M | $2M | |
| Short-term Investments | · | · | · | · | · | · | · | · | · | · | $100M | · | · | $0 | · | |
| Receivables | · | · | · | · | · | · | · | $0 | $243.0K | $0 | $0 | $0 | · | $352.0K | · | |
| Prepaid Expense | $4M | $2M | $4M | $3M | $3M | $2M | $2M | $2M | $2M | $2M | $3M | $4M | $204.9K | $184.0K | $395.6K | |
| Other Current Assets | · | · | · | · | · | · | · | $184.0K | $344.0K | $358.0K | $40.0K | $23.0K | · | $2M | · | |
| Current Assets | $313M | $311M | $344M | $370M | $409M | $498M | $513M | $564M | $583M | $600M | $651M | $654M | $1M | $7M | $2M | |
| PP&E (Net) | $23M | $41M | $33M | $16M | $97M | $100M | $151M | $131M | $108M | $101M | $92M | $92M | · | $70M | · | |
| PP&E (Gross) | · | · | · | · | · | · | · | · | $121M | $111M | · | · | · | $128M | · | |
| Accum. Depreciation | · | · | · | · | · | · | · | · | $13M | $10M | · | · | · | $59M | · | |
| Goodwill | $0 | · | $0 | $0 | $0 | $0 | $360M | $360M | $360M | $424M | $424M | $434M | · | $0 | · | |
| Intangibles | $402.0K | $179M | $182M | $184M | $1.21B | $1.22B | $1.24B | $1.26B | $1.27B | $1.29B | $1.32B | $1.34B | $5M | $263.0K | · | |
| Other Non-current Assets | $147.0K | $146.0K | $387.0K | $694.0K | $667.0K | $915.0K | $652.0K | $583.0K | $420.0K | · | · | · | · | · | · | |
| Total Assets | $338M | $543M | $600M | $630M | $1.79B | $1.84B | $2.29B | $2.34B | $2.36B | $2.45B | $2.49B | $2.52B | $355M | $78M | $349M | |
| Accounts Payable | $124.0K | $346.0K | $1M | $1M | $1M | $849.0K | $3M | $4M | $2M | $3M | $2M | $1M | $25.9K | $577.0K | $62.6K | |
| Accrued Liabilities | $5M | $4M | $8M | $11M | $10M | $10M | $14M | $18M | $12M | $7M | $7M | $2M | $6M | $2M | $1M | |
| Current Liabilities | $18M | $13M | $47M | $22M | $42M | $21M | $18M | $27M | $15M | $11M | $9M | $5M | $6M | $8M | $2M | |
| Capital Leases | $2M | $2M | $3M | $3M | $3M | $2M | $2M | $2M | $2M | $2M | $0 | $582.0K | · | $656.0K | · | |
| Deferred Tax | · | · | $0 | $2M | $3M | $5M | $4M | $16M | $31M | $53M | $64M | $81M | · | $0 | · | |
| Other Non-current Liabilities | · | · | · | · | · | · | · | · | · | · | $0 | $0 | · | $2M | · | |
| Total Liabilities | $26M | $25M | $64M | $47M | $59M | $40M | $132M | $91M | $116M | $150M | $229M | $181M | $47M | $14M | $20M | |
| Paid-in Capital | $868M | $910M | $898M | $819M | $880M | $873M | $772M | $849M | $813M | $738M | $193M | $514M | · | $26M | · | |
| Retained Earnings | $-785M | $-705M | $-695M | $-675M | $-264M | $-235M | $-116M | $-82M | $-83M | $-78M | $-89M | $-59M | $-45M | $-225M | $-18M | |
| AOCI | $-44.0K | $1.0K | $129.0K | $119.0K | $61.0K | $38.0K | $32.0K | $112.0K | $-67.0K | $224.0K | $0 | $1.0K | · | $17.0K | · | |
| Stockholders' Equity | $84M | $205M | $204M | $144M | $616M | $637M | $656M | $767M | $730M | $660M | $104M | $455M | $-45M | $64M | $-18M | |
| Liabilities + Equity | $338M | $543M | $600M | $630M | $1.79B | $1.84B | $2.29B | $2.34B | $2.36B | $2.45B | $2.49B | $2.52B | $355M | $78M | $349M | |
| Shares Outstanding | · | · | · | · | · | · | · | · | · | · | · | · | · | 3,722,355 | · |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $3M | $3M | $3M | $16M | $22M | $22M | $21M | $20M | $20M | $20M | $20M | · | $3M | $3M | $3M | |
| Stock-based Comp | $2M | $9M | $11M | $12M | $14M | $10M | $10M | $9M | $9M | $6M | $7M | · | $5M | $4M | $3M | |
| Deferred Tax | · | · | · | · | · | $400.0K | · | · | · | · | · | · | · | · | · | |
| Amort. of Intangibles | $3M | $3M | $3M | $12M | $17M | $17M | $17M | $17M | $17M | $17M | $17M | · | $5.0K | $6.0K | $5.0K | |
| Other Non-cash | · | $-54M | · | · | · | $67M | · | · | · | $-18M | · | · | · | · | · | |
| Operating Cash Flow | $-10M | $-51M | $-28M | $-48M | $-25M | $-20M | $-13M | $-8M | $-8M | $-3M | $-35M | · | $-5M | $-4M | $-12M | |
| CapEx | $793.0K | $8M | $18M | $3M | $3M | $9M | $29M | $22M | $8M | $10M | $4M | · | $615.0K | $115.0K | $0 | |
| Investing Cash Flow | $-6M | $-16M | $-2M | $-7M | $9M | $-9M | $-39M | $-11M | $-13M | $-106M | $-96M | · | $-615.0K | $-115.0K | $0 | |
| Debt Issued | · | · | · | · | · | · | · | · | · | · | $0 | · | · | $0 | $0 | |
| Stock Issued | $184.0K | $160.0K | · | · | $0 | $0 | · | · | · | $0 | · | · | $6M | · | · | |
| Net Stock Activity | · | $160.0K | · | · | · | · | · | · | · | $0 | · | · | · | · | · | |
| Financing Cash Flow | $-60.0K | $-73.0K | $-66.0K | $-65.0K | $-49.0K | $-50.0K | $-5M | $-152.0K | $61.0K | $0 | $320M | · | $6M | $1.0K | $22M | |
| Free Cash Flow | · | $-59M | · | · | · | $-29M | · | · | · | $-12M | · | · | · | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | · | · | · | · | · | · | · | 91.7% | 87.4% | · | · | · | · | · | · | |
| Operating Margin | · | · | · | · | · | · | · | -393708.3% | -18846.2% | · | · | · | · | · | · | |
| Net Margin | · | · | · | · | · | · | · | 6816.7% | -1793.3% | · | · | · | · | · | · | |
| EBITDA Margin | · | · | · | · | · | · | · | -225291.7% | -10423.1% | · | · | · | · | · | · | |
| ROA | -7.5% | -0.83% | · | -27.7% | -1.4% | -5.6% | · | 0.06% | -0.18% | -0.82% | · | · | -0.66% | · | -0.25% | |
| ROE | -22.9% | -2.3% | · | -90.3% | -4.2% | -18.4% | · | 0.22% | -1.0% | -3.7% | · | · | 6.9% | · | 2.9% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 17.8 | 23.8 | · | 16.6 | 9.8 | 23.3 | · | 21.0 | 40.1 | 56.9 | · | 121.3 | 0.2 | · | 1.6 | |
| Quick Ratio | 6.7 | 10.2 | · | 10.3 | 6.8 | 14.0 | · | 14.4 | 27.8 | 40.6 | · | 120.3 | 0.1 | · | 1.3 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | · | · | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | · | · | · | · | |
| Receivables Turnover | · | · | · | · | · | · | · | · | 2.0 | · | · | · | · | · | · |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue / Share | · | · | · | $0.00 | $0.00 | $0.00 | · | $0.00 | $0.00 | $0.00 | $0.00 | · | · | · | · | |
| Cash Flow / Share | · | $-0.60 | · | · | · | $-0.26 | · | · | · | $-0.04 | · | · | · | · | · | |
| EPS (TTM) | $-6.46 | $-5.91 | · | $-7.65 | $-2.36 | $-2.06 | · | · | $-1.62 | $-6.07 | · | $-21.39 | $-20.58 | · | · |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $0 | $0 | · | $0 | $12.0K | $250.0K | · | · | $238.0K | $125.0K | · | $322.0K | $405.0K | · | · | |
| Net Income TTM | $-521M | $-469M | · | $-593M | $-181M | $-157M | · | · | $-112M | $-125M | · | $-92M | $-89M | · | · | |
| P/E | -0.3 | -0.3 | · | -0.4 | -1.0 | -1.3 | · | · | -6.1 | -1.9 | · | -0.6 | -0.5 | · | · | |
| Earnings Yield | -386.8% | -378.9% | · | -254.2% | -95.5% | -78.3% | · | · | -16.5% | -53.3% | · | -164.5% | -201.1% | · | · |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $0 | $250.0K | · | $580.0K | · |
| Gross Margin % | · | 87.6% | · | · | · |
| Operating Margin % | · | -72528.4% | · | · | · |
| Net Income | $-579M | $-49M | · | $-55M | $-10M |
| Diluted EPS | $-7.34 | $-0.67 | · | $-14.79 | · |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Current Ratio | 7.2 | 28.7 | 53.3 | 0.4 | 6.4 |
| Quick Ratio | 4.2 | 18.4 | 53.0 | 0.3 | 4.9 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $-154M | $-100M | · | · | · |
Institutional owners (13F) 137 filers · $67.3M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
137
Value held
$67.3M
New positions
20
Exited positions
7
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 20 (0 vs prior Q) | 7 (-9 vs prior Q) | 50 (+10 vs prior Q) | 33 (0 vs prior Q) | +3.3M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| Share Andrew L. | $16,311,725 | 9,767,500 | 24.23% | Shares |
| HITE Hedge Asset Management LLC | $4,763,959 | 2,852,670 | 7.08% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $4,742,800 | 2,840,000 | 7.04% | Shares |
| VANGUARD GROUP INC | $4,599,360 | 2,017,263 | 6.83% | Shares |
| BlackRock, Inc. | $4,035,211 | 2,416,294 | 5.99% | Shares |
| PEAK6 LLC | $3,316,209 | 1,985,754 | 4.93% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $3,009,961 | 1,802,372 | 4.47% | Shares |
| Defiance ETFs, LLC | $2,598,248 | 1,555,837 | 3.86% | Shares |
| PEAK6 LLC | $2,411,981 | 1,444,300 | 3.58% | Call option |
| Sourcerock Group LLC | $2,338,184 | 1,400,110 | 3.47% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $1,680,463 | 1,006,014 | 2.50% | Shares |
| Argentarii, LLC | $1,209,814 | 746,799 | 1.80% | Shares |
| TWO SIGMA INVESTMENTS, LP | $1,103,152 | 660,570 | 1.64% | Shares |
| STATE STREET CORP | $1,042,477 | 624,238 | 1.55% | Shares |
| UBS Group AG | $1,020,305 | 610,961 | 1.52% | Shares |
| D. E. Shaw & Co., Inc. | $688,878 | 412,502 | 1.02% | Shares |
| TUDOR INVESTMENT CORP ET AL | $663,850 | 397,515 | 0.99% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $643,422 | 385,283 | 0.96% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $591,524 | 354,206 | 0.88% | Shares |
| NORTHERN TRUST CORP | $559,139 | 334,814 | 0.83% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $542,100 | 324,611 | 0.81% | Shares |
| Toroso Investments, LLC | $534,079 | 234,245 | 0.79% | Shares |
| Nuveen, LLC | $482,423 | 288,876 | 0.72% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $481,421 | 288,276 | 0.72% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $471,676 | 282,441 | 0.70% | Shares |
| MORGAN STANLEY | $452,128 | 270,736 | 0.67% | Shares |
| BOOTHBAY FUND MANAGEMENT, LLC | $439,708 | 263,298 | 0.65% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $435,915 | 261,027 | 0.65% | Shares |
| FEDERATED HERMES, INC. | $414,507 | 248,208 | 0.62% | Shares |
| G.F.W. Energy XII, L.P. | $357,374 | 118,729 | 0.53% | Shares |
| SHELTON CAPITAL MANAGEMENT | $334,501 | 200,300 | 0.50% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $289,411 | 173,300 | 0.43% | Call option |
| DIMENSIONAL FUND ADVISORS LP | $272,950 | 163,443 | 0.41% | Shares |
| GOLDMAN SACHS GROUP INC | $252,780 | 151,365 | 0.38% | Shares |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC | $236,943 | 141,882 | 0.35% | Shares |
| TWO SIGMA ADVISERS, LP | $233,472 | 102,400 | 0.35% | Shares |
| Caption Management, LLC | $204,495 | 122,452 | 0.30% | Shares |
| ALLIANCEBERNSTEIN L.P. | $183,581 | 117,680 | 0.27% | Shares |
| SIR Capital Management, L.P. | $183,117 | 109,651 | 0.27% | Shares |
| CITADEL ADVISORS LLC | $172,177 | 103,100 | 0.26% | Call option |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $161,038 | 96,430 | 0.24% | Shares |
| MOORE CAPITAL MANAGEMENT, LP | $141,950 | 85,000 | 0.21% | Shares |
| Bank of New York Mellon Corp | $139,982 | 83,821 | 0.21% | Shares |
| SIMPLEX TRADING, LLC | $129,598 | 77,604 | 0.19% | Shares |
| XTX Topco Ltd | $123,486 | 73,944 | 0.18% | Shares |
| WOLVERINE TRADING, LLC | $121,660 | 38,500 | 0.18% | Call option |
| JANE STREET GROUP, LLC | $105,711 | 63,300 | 0.16% | Call option |
| LPL Financial LLC | $95,314 | 57,074 | 0.14% | Shares |
| DEUTSCHE BANK AG\ | $93,627 | 56,064 | 0.14% | Shares |
| Qube Research & Technologies Ltd | $93,228 | 55,825 | 0.14% | Shares |
Activists & 5%+ owners 3 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| 8 RIVERS CAPITAL, LLC, NPEH, LLC, DAMIAN BEAUCHAMP, 8RCH, LLC ×13 filings | Aug. 17, 2026 | 17.86% | Amendment | · | SEC |
| OLCV Net Power, LLC, Oxy Low Carbon Ventures, LLC, OXY USA Inc., Occidental Petroleum Corporation | June 20, 2023 | · | Initial filing | Board campaign | SEC |
| Constellation Energy Generation, LLC, Constellation Energy Corporation | June 20, 2023 | · | Initial filing | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 20 insiders · 8 officers · 9 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Daniel J. Rice IV | Chief Executive Officer | June 8, 2023 A | 7,535,000 | 0 | 0 | $0 |
| Akash S. Patel | Chief Financial Officer | April 2, 2025 A | 0 | 0 | 0 | $0 |
| Brian F. Allen | COO and President | April 2, 2025 A | 568,939 | 0 | 0 | $0 |
| Marc Horstman | Chief Operating Officer | June 2, 2025 A | · | 0 | 0 | $0 |
| Kelly Rosser | Chief Accounting Officer | April 3, 2025 S | 2,531 | 0 | 0 | $0 |
| James Mahon | General Counsel and Secretary | Sept. 13, 2023 S | 0 | 0 | 0 | $0 |
| Brandon Heffinger | Chief Commercial Officer | Sept. 1, 2023 S | 0 | 0 | 0 | $0 |
| Brock Forrest | Chief Technology Officer | June 8, 2023 A | 596,917 | 0 | 0 | $0 |
| Carol R. Peterson | Director | June 3, 2026 A | 176,151 | 0 | 0 | $0 |
| Alejandra Veltmann | Director | June 3, 2026 A | 176,151 | 0 | 0 | $0 |
| Joseph T Kelliher | Director | June 3, 2026 A | 176,151 | 0 | 0 | $0 |
| Ralph Alexander | Director | June 3, 2026 A | 176,151 | 0 | 0 | $0 |
| Kyle Derham | Director | Aug. 16, 2023 C | 1,676,668 | 0 | 0 | $0 |
| Jide Famuagun | Director | June 8, 2023 A | 30,000 | 0 | 0 | $0 |
| Carrie M Fox | Director | June 8, 2023 A | 30,000 | 0 | 0 | $0 |
| LYTAL JAMES H | Director | June 8, 2023 A | 30,000 | 0 | 0 | $0 |
| NPEH, LLC | 10% owner | Sept. 9, 2026 S | 750,000 | 0 | 66 | $-21,902,193 |
| Cynda Beauchamp | 10% owner | Nov. 2, 2025 J | 0 | 0 | 1 | $-73,370 |
| SK INC. | 10% owner | July 30, 2025 J | 0 | 0 | 0 | $0 |
| Rice Acquisition Sponsor II LLC | · | June 30, 2023 J | 0 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 10 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| IWM · iShares Trust | 0.00% | 1,039,829 SH | Sept. 11, 2026 | Daily |
| RSSL · Global X Funds | 0.00% | 20,161 NS | July 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.00% | 43,066 NS | July 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 442,118 SH | Aug. 19, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 1,336,582 SH | Aug. 19, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.00% | 244,916 SH | Aug. 19, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.00% | 39,261 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 2,889 SH | Aug. 19, 2026 | Daily |
| VIS · VANGUARD WORLD FUND | 0.00% | 37,545 SH | Aug. 19, 2026 | Daily |
| IWN · iShares Trust | · | 355,794 SH | Sept. 11, 2026 | Daily |
NPWR Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 11 analysts
BUY
Median target
$2.75
+97.8%
3 27.3%
Strong Buy
6 54.5%
Buy
2 18.2%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
5 analysts · 2026-10-02Mean target $2.85 +105.0%
← Below all targets
Current price $1.39
Low$2.50
Mean$2.85
High$3.50
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| NPWR | · | -0.3 | · | · | -134.6% | · |
| EROC | · | · | · | · | · | · |
| PSIX | · | 11.6 | 51.8% | · | · | · |
| BW | $827M | -13.2 | 1.1% | -6.2% | 17.4% | · |
| NNE | $1.61B | -36.4 | · | · | -22.6% | · |
| NRGV | $779M | -7.1 | 340.9% | -50.9% | -131.3% | 23.6% |
| BWEN | · | 12.3 | 10.4% | 3.3% | 8.4% | 10.2% |
| HDRN | · | · | · | · | · | · |
| PPSI | $52M | -8.8 | 20.8% | -21.7% | -19.2% | 12.4% |
| GEV | $176.16B | 36.9 | 9.0% | 12.8% | 47.1% | 19.8% |
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Source: SEC 10-Q filed Aug 13, 2026