Nextdecade (NEXT) financial statements
Nextdecade reported revenue of $0 in fiscal 2025.
Net income was -$430M.
Free cash flow was -$5.0B, and the company returned $17M in net buybacks.
The diluted share count rose 174% over the period (dilution).
Income statement
Fiscal years, from Nextdecade's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Research and development | — | — | — | — | — | — | $4M | $5M | $8M | $8M |
| Selling, general and admin | $7M | $35M | $35M | — | — | — | $49M | $111M | $150M | $202M |
| Operating income | -$9M | -$36M | -$43M | -$35M | -$22M | -$20M | -$54M | -$123M | -$171M | -$226M |
| Interest expense | — | — | — | — | — | — | $0 | $50M | $88M | $170M |
| Income tax | — | — | $0 | $0 | $0 | $0 | $0 | — | — | $0 |
| Net income | -$434,698 | -$35M | -$42M | -$36M | -$14M | -$22M | -$60M | -$222M | $277M | -$430M |
| EPS (diluted) | -$0.10 | -$0.35 | -$0.41 | -$0.45 | -$0.24 | -$0.34 | -$0.65 | -$0.94 | -$0.24 | -$1.17 |
| Diluted shares | 96M | 101M | 107M | 109M | 0M | 0M | 130M | 195M | 259M | 262M |
Balance sheet
Fiscal years, from Nextdecade's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $18M | $41M | $76M | $78M | $23M | $26M | $63M | $38M | $148M | $144M |
| Total current assets | $19M | $43M | $77M | $79M | $23M | $26M | $64M | $315M | $413M | $718M |
| Property, plant and equipment | $56M | $73M | $92M | $135M | $162M | $174M | $219M | $2.4B | $5.0B | $10.6B |
| Total assets | $76M | $116M | $169M | $221M | $202M | $222M | $312M | $3.3B | $6.4B | $12.4B |
| Total current liabilities | $5M | $8M | $12M | $22M | $5M | $8M | $25M | $552M | $595M | $1.3B |
| Long-term debt | — | — | — | — | — | — | $0 | $1.8B | $3.9B | $8.5B |
| Total liabilities | $8M | $13M | $20M | $34M | $29M | $34M | $56M | $2.6B | $4.7B | $10.1B |
| Shareholders' equity | $68M | $103M | $83M | $90M | $60M | $20M | $54M | $288M | $378M | $95M |
| Net debt | -$13M | -$36M | -$3M | -$16M | -$23M | -$26M | -$63M | $1.8B | $3.8B | $8.4B |
Cash flow
Fiscal years, from Nextdecade's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$7M | -$13M | -$23M | -$41M | -$26M | -$18M | -$40M | -$74M | -$96M | -$169M |
| Capital spending | $19M | $15M | $19M | $20M | $32M | $12M | $34M | $1.7B | $2.6B | $4.8B |
| Free cash flow | -$27M | -$28M | -$42M | -$61M | -$59M | -$30M | -$74M | -$1.8B | -$2.7B | -$5.0B |
| Stock-based compensation | — | $23M | $17M | -$10M | -$341,000 | -$4M | $7M | $27M | $20M | $39M |
| Share buybacks (net) | — | — | -$35,000 | -$650,000 | -$346,000 | -$284,000 | -$3M | -$10M | -$7M | -$17M |
| Net borrowing | — | — | — | — | — | — | $0 | $1.9B | $2.2B | $4.7B |
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What was Nextdecade's revenue in 2025?
$0 in fiscal 2025, from its 10-K filing.
How much free cash flow does Nextdecade generate?
-$5.0B in fiscal 2025 (operating cash flow minus capital spending).
From Nextdecade's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.