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NPWR · NYSE · Industrial - Machinery

NET Power

Develops gas-fired power technology that produces electricity and a high-purity CO2 stream.

$1.83

After-hours close+0.01 (+0.27%)

At close$1.83(−3.44%)

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Profile

NET Power Inc.NPWRIndustrials

Develops and licenses gas-power technology based on an oxy-combustion, supercritical-CO2 cycle. Project Permian adds a project-development path alongside technology licensing.

Built around the NET Power Cycle, the business develops and licenses a natural-gas power system that burns fuel with oxygen and recirculating CO2. The process generates electricity while drawing off a high-purity CO2 stream for storage or utilization.

Commercialization began with a demonstration plant in La Porte, Texas, and now centers on Project Permian in the Permian Basin. The initial development combines Siemens A35 gas turbines, RPS packaging, and Entropy post-combustion capture, extending the business from technology licensing into project development.

Progress depends on equipment and technology performance, construction and regulatory execution, supplier and strategic-partner relationships, power offtake, project financing, and successful commercialization.

Company facts

CEODaniel J. Rice IV

ListedJun 9, 2023

ExchangeNYSE

HeadquartersDurham, NC

CountryUnited States

Employees54

CIK0001845437

ISINUS64107A1051

Key statistics

Market cap$161.7M

EPS (ttm)−$6.54

P/E (ttm)−0.2798

ROE-327.5%

P/B1.94

P/S0.00

Dividend yield—

Beta2.60vs XLI 0.93

Year to date −27.3% · Average volume (30d) 895.2K

Analysts

Price target, next 12 months$3.00+63.9%Median of 2 analysts · vs the Aug 28 close

ConsensusBuy1 of 2 analysts rate it buy or better

Ratings

Strong buyBuyHoldSellStrong sell

Target range

Last close $1.83

High$3.00+63.9%

Median$3.00+63.9%

Low$3.00+63.9%

12 months agoNowIn 12 months

Latest analyst notes

Date	Firm	Action	Prior rating	Rating
Nov 17, 2025	Barclays	Upgrade	Underweight	Equal Weight
Apr 23, 2025	Barclays	Downgrade	Equal Weight	Underweight
Mar 11, 2025	Citigroup	Upgrade	Neutral	Buy

Earnings

EPS

Estimate−$0.05

ReportedDue Nov 12, 2026

Revenue

Estimate$9.0M

ReportedDue Nov 12, 2026

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
Aug 13, 2026Q2 FY26	−$0.07	−$0.91	−1,157.1%	$9.0M	—	—	+20.37%
May 11, 2026Q1 FY26	−$0.07	−$0.12	−69.3%	$9.0M	—	—	+21.57%
Mar 9, 2026Q4 FY25	−$0.09	−$0.20	−117.2%	$3.0M	—	—	−1.55%
Nov 13, 2025Q3 FY25	−$0.16	$5.84	+3,850.8%	—	—	—	−4.41%

View details

Financial highlights

	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Revenue	$0	$0	$0	$0	$0	$0
Gross profit	−$4.5M	−$21.7M	−$15.6M	−$3.5M	−$3.4M	$0
Operating income	−$474.6M	−$90.6M	−$60.7M	−$69.7M	−$34.2M	−$209.9M
Net income	−$119.4M	−$28.1M	−$411.5M	−$19.5M	−$9.9M	−$80.3M
Diluted EPS	−$1.55	−$0.36	−$5.28	−$0.23	−$0.12	−$0.91
Gross margin	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—

Fiscal years (4-quarter sums)FY21 $557.0K · FY22 $579.0K · FY23 $175.0K · FY24 $250.0K · FY25 $0

Balance sheet, Jun 30, 2026Cash & short-term investments $308.4M · Total debt $3.3M · Total assets $338.3M · Shareholders' equity $83.5M

Dividends

No dividends on record.

Ownership

Institutions 39.84%35.21M sharesInsiders 0.04%34.5K sharesOther 60.12%53.14M shares

Shares outstanding 88.38M · Float 43.87M · 49.6% free float

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
Beauchamp Damian R. · 10 percent owner	26.73M	30.24%	Form 4	Aug 11, 2025
8 Rivers Capital, LLC · 10 percent owner	18.73M	21.19%	Form 4	Aug 27, 2026
Npeh, LLC · 10 percent owner	18.73M	21.19%	Form 4	Aug 27, 2026
Share Andrew L.	9.77M	11.05%	13F	Apr 28, 2026
Hite Hedge Asset Management LLC	2.76M	3.13%	13F	May 15, 2026

Insider tradesForm 4

Date	Insider	Role	Shares	Avg price
Aug 25, 2026	8 Rivers Capital, LLC	10 percent owner	−201,550	$1.91
Aug 26, 2026	8 Rivers Capital, LLC	10 percent owner	−41,350	$1.91
Aug 26, 2026	Npeh, LLC	10 percent owner	−41,350	$1.91
Aug 25, 2026	Npeh, LLC	10 percent owner	−201,550	$1.91
Aug 14, 2026	8 Rivers Capital, LLC	10 percent owner	−507,100	$1.95