FY2025 · ended Dec 31, 2025 · Revenue $0 · Filed Mar 2, 2026
Nextdecade Corporation (NEXT) files with the SEC under industry code 4923, Natural Gas Transmisison & Distribution. In fiscal 2025, which ended Dec 31, 2025, it reported revenue of $0 and a net loss of $429.6 million. Free cash flow was -$5.0 billion. As of Sep 30, 2026 it held $129.9 million in cash and investments and $13.1 billion in total debt.
Revenue (TTM)
$0
Net income (TTM)
$389.61M
+2132.1% vs year-ago TTM
Operating cash flow (TTM)
$-37.22M
+76.4% vs year-ago TTM
Free cash flow (TTM)
$-5.37B
-44.8% vs year-ago TTM
EPS (TTM)
$-0.35
+52.4% vs year-ago TTM
Dividend per share
None
Shares outstanding
264.93M
+1.7% vs prior year
Net cash
$-12.97B
as of Sep 30, 2026
Operating margin
—
Company profile
- Industry
- Natural Gas Transmisison & Distribution (SIC 4923)
- Listed as
- NEXT (Nasdaq)
- Fiscal year ends
- December 31
- Incorporated in
- DE
- Headquarters
- Houston, TX
- SEC filer status
- Large accelerated filer
- SEC CIK
- 1612720
- Former names
- NextDecade Corp. (until Jun 13, 2025); Harmony Merger Corp. (until Jul 25, 2017)
Other Natural Gas Transmisison & Distribution companies
Key figures
Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.
| Line | FY 2025 Dec 31, 2025 |
FY 2024 Dec 31, 2024 |
FY 2022 Dec 31, 2022 |
FY 2021 Dec 31, 2021 |
FY 2020 Dec 31, 2020 |
|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 |
| Operating income | -$225.9M | -$171.1M | -$54.5M | -$19.5M | -$22.0M |
| Net income | -$429.6M | $277.4M | -$60.1M | -$22.0M | -$14.3M |
| Diluted EPS | -$1.17 | -$0.24 | — | — | — |
| Operating cash flow | -$169.4M | -$95.6M | -$40.1M | -$18.0M | -$26.3M |
| Free cash flow | -$5.0B | -$2.7B | -$73.8M | -$30.1M | -$58.6M |
| Total assets | $12.4B | $6.4B | $312.4M | $222.1M | $201.7M |
| Total liabilities | $10.1B | $4.7B | $55.6M | $33.8M | $28.9M |
| Stockholders' equity | $95.3M | $377.6M | $54.4M | $19.9M | $60.4M |
| Cash and investments | $143.8M | $148.1M | $62.8M | $25.6M | $22.6M |
| Total debt | $9.0B | $4.2B | $1.6M | $596,000 | $432,000 |
Recent SEC filings
| Form | Description | Filed | Period |
|---|---|---|---|
| 10-Q | Quarterly report | Oct 29, 2026 | Sep 30, 2026 |
| 8-K |
Current report
Officer or director change
|
Oct 1, 2026 | Sep 29, 2026 |
| 10-Q | Quarterly report | Jul 30, 2026 | Jun 30, 2026 |
| 8-K |
Current report
Material agreement, New debt
|
Jul 2, 2026 | Jul 2, 2026 |
| 8-K |
Current report
Material agreement, New debt
|
Jun 18, 2026 | Jun 17, 2026 |
| 8-K |
Current report
Officer or director change
|
Jun 3, 2026 | Jun 3, 2026 |
All 842 Nextdecade Corporation SEC filings
Source: SEC EDGAR filings. This is company-reported data, not investment advice.