Latest revenue
$0
as of 2025-09-30
Latest net income
$-411.5M
as of 2025-09-30
Net margin
—
as of 2025-09-30
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $7.3M
- Enterprise value
- $7.3M
- P/E (trailing)
- —
- Forward P/E
- —
- P/B
- —
- Dividend yield
- 0.0%
- 52-wk high
- $5.20
- 52-wk low
- $1.46
- Beta
- —
- Shares out
- 3.8M
5-year trend
What this company does
Item 1. Business Overview Net Power is an energy technology and project development company focused on delivering low-carbon gas power solutions. Founded in 2010, our mission is to transform natural gas into the lowest cost form of clean firm power. Historically, our sole business has been the development of a novel oxy-combustion power generation system (the “Oxy-Combustion Cycle”) designed to produce reliable and affordable electricity from natural gas while inherently capturing CO2 and minimizing the production of air pollutants such as SOX, NOX, and other particulates. The Oxy-Combustion Cycle was first demonstrated at our 50 MWth demonstration facility in La Porte, Texas (the “La Porte…
AI summary unavailable — showing raw filing excerpt
Generated from NPWR's filing dated 2026-03-09
Key risks
Item 1A. Risk Factors The section below discusses the most significant risk factors that may materially adversely affect our business, results of operations and financial condition. Risks Related to Our Business and Our Industry We have incurred significant losses since inception, we anticipate that we will continue to incur losses in the future, and we may not be able to achieve or maintain profitability. Net Power has historically incurred significant losses and experienced negative cash flows since inception, including net losses of $578.6 million for the year ended December 31, 2025 and $49.2 million for the year ended December 31, 2024. We have not generated any material revenue, but…
AI summary unavailable — showing raw filing excerpt
Generated from NPWR's filing dated 2026-03-09
Profitability
Gross margin
87.6%
66.6%Operating margin
-72528.4%
740.9%Net margin
-46181.2%
389.0%Return on equity
139.3%
427.3%Return on assets
-96.5%
1817.2%Leverage
Debt / equity
-9.95×
0.8%Debt / assets
111.2%
0.1%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | — | — | $-9.9M | +91.7% | — |
Q4 2025 2025-12-31 | $0 | — | $-19.6M | +80.5% | — |
Q3 2025 2025-09-30 | $0 | -100.0% | $-411.5M | -50405.4% | — |
Q2 2025 2025-06-30 | $0 | -100.0% | $-28.1M | -559.4% | — |
Q1 2025 2025-03-31 | $0 | — | $-119.3M | -945.0% | — |
Q4 2024 2024-12-31 | $0 | — | $-100.6M | — | — |
Q3 2024 2024-09-30 | $12.0K | — | $818.0K | +102.7% | 6816.7% |
Q2 2024 2024-06-30 | $238.0K | +36.0% | $-4.3M | +87.5% | -1793.3% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Electrical Industrial Apparatus · SIC 3620
Your notes
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Insider activity
Insider buying
$0
Insider selling
$42.8M
Net activity
−$42.8M
Distinct insiders
4
Open-market trades over the last 365 days.
Recent transactions
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns NPWR
Institutional value
$26.8M
Total shares held
17.5M
Distinct holders
53
-60 vs prior
As of
2026-03-31
Prior: 2025-12-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | Share Andrew L. | 9.8M | $15.2M | +0 (+0.0%) | No change |
| 2 | BlackRock, Inc. | 2.1M | $3.3M | +147.7K (+7.4%) | Added |
| 3 | VANGUARD CAPITAL MANAGEMENT LLC | 1.6M | $2.6M | — | New |
| 4 | Argentarii, LLC | 748.6K | $1.2M | +485.1K (+184.1%) | Added |
| 5 | Nuveen, LLC | 713.8K | $1.1M | +11.4K (+1.6%) | Added |
| 6 | CenterBook Partners LP | 437.8K | $682.9K | -1.4M (-76.3%) | Trimmed |
| 7 | UBS Group AG | 369.9K | $577.0K | +305.4K (+473.5%) | Added |
| 8 | VANGUARD PORTFOLIO MANAGEMENT LLC | 264.7K | $412.9K | — | New |
| 9 | VANGUARD FIDUCIARY TRUST CO | 249.0K | $388.5K | — | New |
| 10 | FEDERATED HERMES, INC. | 241.6K | $376.9K | +162.6K (+205.7%) | Added |
| 11 | DIMENSIONAL FUND ADVISORS LP | 103.1K | $160.6K | -84.5K (-45.1%) | Trimmed |
| 12 | Bank of New York Mellon Corp | 84.0K | $131.1K | -121 (-0.1%) | Trimmed |
| 13 | DEUTSCHE BANK AG\ | 54.2K | $84.5K | +34.6K (+176.9%) | Added |
| 14 | LPL Financial LLC | 53.0K | $82.7K | +12.3K (+30.0%) | Added |
| 15 | JANE STREET GROUP, LLC | 52.5K | $82.0K | -668.0K (-92.7%) | Trimmed |
| 16 | RHUMBLINE ADVISERS | 49.1K | $76.6K | +5.0K (+11.3%) | Added |
| 17 | WELLS FARGO & COMPANY/MN | 28.8K | $45.0K | -20.4K (-41.5%) | Trimmed |
| 18 | SUMMIT SECURITIES GROUP LLC | 19.3K | $30.1K | — | New |
| 19 | INTEGRITY ALLIANCE, LLC. | 17.4K | $27.1K | +0 (+0.0%) | No change |
| 20 | Kapstone Financial Advisors LLC | 17.4K | $27.1K | +0 (+0.0%) | No change |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
Coming once NPWR's latest filing finishes processing.