v3.26.1
Loss per Share
3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
Loss per Share
NOTE 10 — Loss per Share
Basic loss per share attributable to shareholders is calculated by dividing net loss attributable to shareholders by the weighted-average number of shares outstanding during the period. Diluted loss per share attributable to shareholders includes the effect of potentially dilutive common shares outstanding.
The following table sets forth the computation of the Company’s basic and diluted loss per share for the following periods:
Three Months Ended March 31,
In thousands, except per share data20262025
Numerator
Net loss after income tax$(25,810)$(373,586)
Net loss attributable to NET Power Inc.$(9,857)$(119,350)
Denominator
  Weighted-average number shares outstanding, basic and diluted85,382 76,997
 Loss per share attributable to shareholders, basic and diluted$(0.12)$(1.55)
Only shares of Class A Common Stock participate in the Company’s undistributed earnings. As such, the Company’s undistributed earnings are allocated entirely to the Class A Common Stock based on the weighted-average number of shares of Class A Common Stock outstanding for the three months ended March 31, 2026 and 2025.
Based on the amounts outstanding at March 31, 2026 and 2025, the Company excluded the following financial instruments from the computation of diluted loss per share because their inclusion would be anti-dilutive:
In thousandsMarch 31,
Anti-Dilutive Instruments20262025
Public Warrants8,6218,621
Private Placement Warrants10,90010,900
Earnout Shares329329
BHES Bonus Shares2,068
Unvested Class A OpCo Units242
Vested Class A OpCo Units136,958141,243
Unvested RSUs1,846875
Unvested PSUs262128
Make-Whole Awards1,2571,257
Stock Options6,4912,460
Total166,664168,123