Fervo Energy FRVO
Fervo Energy reports $19.53 million net loss for Q3 2026
Fervo Energy (FRVO) filed a 10-Q with the SEC on Nov 10, 2026, 6:22 am ET. Source: the filing on SEC EDGAR.
Quarterly report, 6 new risk factors
- Form
- 10-Q
- Filed
- Importance
- Major
- Accession
- 0001628280-26-072482
- Revenue: $116,000 for the three months ended Sep 30, 2026
- Net loss: $19.53 million for the three months ended Sep 30, 2026
- Cash and equivalents: $1.92 billion at Sep 30, 2026
- Diluted EPS: -$0.07 for the three months ended Sep 30, 2026
Written from the 10-Q on EDGAR. AI can make mistakes. Check the filing.
What changed since last quarter
6 new risk factors · 3 removed
Compared with the 10-Q for the period ended Jun 30, 2026.
| This filing | Previous | Change vs prior 10-Q | |
|---|---|---|---|
| Revenue | $116K | $113K | +2.7% |
| Operating income and margin | −$43.75M · -37712.1% | −$28.74M · -25435.4% | −52%, margin −12276.7 pts |
| Net income | −$19.53M | −$55.92M | +65% |
| Operating cash flow | −$11.68M | −$34.74M | +66% |
| Cash | $1.92B | $2.11B | −9% |
New risk factors (6)
- Prior to May 2017, we conducted no business operations, and we recorded no revenue or expenses. During the three and nine months ended September 30, 2026, we reported net income of $11.7 million and net loss of $76.1 million, respectively. During the three and nine months ended September 30, 2025, we reported net…
- Station Phase I (GeoBlocks 2-3), and Cape Station Phase II by the COD under the applicable PPA, we will incur liquidated damages under the provisions of the applicable PPA. If we do not commence operations within six months of the applicable PPA COD deadline, our counterparty has the right to terminate the contract…
- On August 26, 2026, Cape Generating Station 6 LLC, a wholly owned subsidiary of Fervo, entered into a 15-year PPA with Google Energy LLC ("Google") for the sale of energy products from a 396 MW EGS project at Cape Station in Beaver County, Utah. The project is expected to be delivered in four 99 MW sub-tranches…
- We have taken, and will continue to take, steps to remediate the material weaknesses described above. Our remediation efforts include designing and implementing effective internal controls measures to improve our evaluation of disclosure controls and procedures and internal control over financial reporting…
- Our Class B common stock is beneficially owned by our Co-Founders, Tim Latimer and Jack Norbeck, PhD, who also serve as our Chief Executive Officer and Chief Technology Officer, respectively, whose interests may differ from or conflict with the interests of our other stockholders. Each share of our Class A common…
- and 1 more in the filing
Removed risk factors (3)
- Prior to February 2017, we conducted no business operations and we recorded no revenue or expenses. During the three and six months ended June 30, 2026, we reported net losses of $55.9 million and $87.7 million, respectively. During the three and six months ended June 30, 2025, we reported net losses of $11.4 million…
- •a lack of adequate and qualified personnel to crew and operate the power plants;
- We are focused on designing and implementing effective internal controls measures to improve our evaluation of disclosure controls and procedures, including internal control over financial reporting, and remediating the material weaknesses. We also plan to recruit additional qualified financial reporting and…