NEXT · XBRL financial data

NextDecade financial statements, every fiscal year

The same tables from 7 filings, lined up. Matched by XBRL tag: renamed lines keep their history.

How these numbers work

Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
* marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
0 means a filing states zero; a dash (—) means no filing states that number.
“year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
Shares outstanding come from each filing's cover page, as of the date printed there.
Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.

Income statement

Fiscal years (NEXT's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Revenue	0	0	0	0	0	0
Research and development	—	—	4	5	8	8
General and administrative	—	—	49	111	150	202
Total operating expenses	22	20	54	123	171	226
Operating income (loss)	(22)	(20)	(54)	(123)	(171)	(226)
Interest expense	—	—	0	50	88	170
Other income (expense)	(0)	(0)	0	8	(1)	7
Income tax expense (benefit)	0	0	0	—	—	0
Net income (loss)	(14)	(22)	(60)	(222)	277	(430)
Earnings per share, basic USD per share	—	(0.34)	(0.65)	(0.94)	(0.24)	(1.17)
Earnings per share, diluted USD per share	—	—	(0.65)	(0.94)	(0.24)	(1.17)
Weighted average shares, basic millions of shares	118	119	130	195	259	262
Weighted average shares, diluted millions of shares	118	119	130	195	259	262

Fiscal years (NEXT's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Cash and cash equivalents	23	26	63	38	148	144
Marketable securities	0	—	—	—	—	—
Prepaid and other current assets	1	1	1	2	3	11
Total current assets	23	26	64	315	413	718
Property and equipment, net	162	174	219	2,438	5,020	10,568
Right-of-use asset	0	1	1	171	166	162
Total assets	202	222	312	3,324	6,404	12,426
Accounts payable	0	0	1	243	245	444
Accrued liabilities	—	—	23	299	348	888
Current portion of long-term debt	—	—	0	—	—	—
Total current liabilities	5	8	25	552	595	1,336
Long-term debt	—	—	0	1,816	3,920	8,511
Lease liability, non-current	0	0	0	146	144	142
Total liabilities	29	34	56	2,583	4,660	10,125
Accumulated deficit	(148)	(170)	(230)	(392)	(454)	(760)
Total stockholders' equity	60	20	54	288	378	95
Total liabilities and equity	202	222	312	3,324	6,404	12,426
Common shares outstanding (cover page) millions of shares	122	123	151	257	260	265

Fiscal years (NEXT's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Net income (loss)	(14)	(22)	(60)	(222)	277	(430)
Stock-based compensation	(0)	(4)	7	27	20	39
Net cash from operating activities	(26)	(18)	(40)	(74)	(96)	(169)
Purchases of property and equipment	32	12	34	1,738	2,568	4,847
Net cash from investing activities	19	(19)	(41)	(1,753)	(2,574)	(4,853)
Proceeds from issuing common stock	0	1	115	254	0	0
Proceeds from issuing equity	0	40	11	—	—	—
Share repurchases	0	0	3	10	7	17
Net cash from financing activities	15	39	118	2,058	2,768	5,337
Net change in cash	7	3	37	232	98	314

SIC 4923 and related industry codes, similar size. Each row is the latest quarter reported.

How peers are chosen

SIC 4923 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
Runway shows only for companies burning cash with under $10B of public float.
* marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.

Company	Cash ($M)	Revenue, quarter ($M)	Operating cash flow, quarter ($M)	Shares outstanding	Runway	Quarter
NextDecade	130	0	111*	268.8M	—	Q3 FY26 10-QSep 30, 2026
Centuri Holdings	40	962	20*	101.0M	—	Q2 FY26 10-QJun 28, 2026
Northwest Natural Holding	24	244	110*	42.1M	—	Q2 FY26 10-QJun 30, 2026
Kodiak Gas Services	138	391	99*	101.1M	—	Q2 FY26 10-QJun 30, 2026
USA Compression Partners	9.5	342	146*	144.9M	—	Q2 FY26 10-QJun 30, 2026
Kinetik Holdings	7.8	581	161*	not reported	—	Q2 FY26 10-QJun 30, 2026
Cheniere Energy Partners	569	2,575	941*	484.1M	—	Q3 FY26 10-QSep 30, 2026
New Fortress Energy	161	313	(159)*	285.6M	1.0 quarters	Q2 FY26 10-QJun 30, 2026
NGL Energy Partners	5.1	990	77	124.8M	—	Q1 FY27 10-QJun 30, 2026

Not investment advice. Not affiliated with the U.S. SEC.