NET Power posts -$80.3M net loss, suspends Oxy-Combustion tech, pivots to gas generation

Filed August 13, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 11, 2025 · ~2 min read

Key Changes

• high

  Net loss widened 185.3% to -$80.3M (diluted EPS -$0.91) in Q2 2026 on non-operating factors; operating loss widened 132% to -$209.9M. The net-income change did not come from operations — net income exceeds operating income, indicating a below-the-line contribution this period, though the driver is not disclosed in the filing.

  MD&A: Operating Results / Notes: Consolidated Statements of Operations verify on EDGAR →
• high

  Company indefinitely suspended Oxy-Combustion Cycle development and recorded $193.7M full impairment of developed technology and La Porte Demonstration Facility assets in Q2 2026, now carried at zero. Any value recovery depends on a sale transaction, which is uncertain and constrained by Baker Hughes' exclusive rights.

  Notes: Goodwill and Intangible Assets verify on EDGAR →
• high

  Strategic pivot to conventional natural gas power generation without carbon capture for co-located large loads. Project Permian Phase I is not expected to include carbon capture initially; any future carbon capture deployment depends on securing technology licenses, customer demand, and financing — none of which are in place.

  MD&A: Overview / Risk Factors verify on EDGAR →