v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 1,145,424,000 $ 458,932,000
Short-term investments 489,752,000 304,908,000
Accounts receivable 40,782,000 32,940,000
Unbilled Receivables and Contract Assets 75,359,000 41,529,000
Prepaid and other current assets 21,302,000 11,491,000
Due from related parties $ 21,256,000 $ 4,580,000
Other Receivable, after Allowance for Credit Loss, Current, Related Party [Extensible Enumeration] Related Party Related Party
Total current assets $ 1,793,875,000 $ 854,380,000
Long-term investments 264,634,000 261,458,000
Restricted cash 4,200,000 3,698,000
Property and equipment, net 119,126,000 50,105,000
Operating lease right-of-use assets 21,750,000 22,696,000
Other long-term assets 51,626,000 18,934,000
Total assets 2,255,211,000 1,211,271,000
Current liabilities    
Accounts payable 10,700,000 3,363,000
Accrued liabilities 86,142,000 51,217,000
Due to related parties $ 7,466,000 $ 4,225,000
Other Liability, Current, Related Party [Extensible Enumeration] Related Party Related Party
Total current liabilities $ 104,308,000 $ 58,805,000
Long-term operating lease liabilities 24,929,000 20,887,000
Warrant liabilities 0 274,166,000
Total liabilities 159,564,000 369,011,000
Mezzanine equity    
Mezzanine equity 0 2,066,555,000
Preferred Stock: $0.0001 par value per share; 10.0 million shares authorized, no shares issued and outstanding as of June 30, 2026; no shares authorized, issued, and outstanding as of December 31, 2025 0 0
Accumulated deficit (59,090,000) (1,236,345,000)
Accumulated other comprehensive income (loss) 306,000 (117,000)
Additional paid-in capital 1,873,512,000 12,167,000
Total equity (deficit) attributable to X-Energy, Inc. 1,814,769,000 (1,224,295,000)
Non-controlling interests 280,878,000 0
Total stockholders' equity and members' deficit 2,095,647,000 (1,224,295,000)
Total liabilities, mezzanine equity, and member's deficit 2,255,211,000 1,211,271,000
Nonrelated Party    
Current liabilities    
Long-term deferred revenue 12,800,000 12,800,000
Related Party    
Current assets    
Due from related parties [1] 21,256,000 4,580,000
Current liabilities    
Due to related parties 7,466,000 4,225,000
Long-term deferred revenue [1] 17,527,000 2,353,000
Class A Common Units    
Mezzanine equity    
Common stock value 29,000 0
Class B Common Units    
Mezzanine equity    
Common stock value 12,000 0
Class A And B Common Units    
Mezzanine equity    
Mezzanine equity [2] 0 95,153,000
SeriesA A-1 B C C-1 And D Redeemable Preferred Stock [Member]    
Mezzanine equity    
Mezzanine equity [2] $ 0 $ 1,971,402,000
[1] These balances are related to Dow. Of the Due from related parties balances, $20.5 million and $0.7 million as of June 30, 2026 and December 31, 2025, respectively, are unbilled.
[2] See Note 10 — Stockholders’ Equity and Mezzanine Equity for breakdown of mezzanine equity units.