10-Q Filing

NEXTDECADE CORP CIK: 1612720 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001437749-20-011074`
Period End Date	20200331
Filing Date	20200518
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	next-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 34 Cash Flow Statement 64 Stockholders Equity 20

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$58.28M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.74M	USD	Point-in-time
Investment securities	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$62.21M	USD	Point-in-time
Investment securities	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	-	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$859.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.08M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	480.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$59.36M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	480.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$78.80M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$134.59M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	117.40M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	117.30M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$146.01M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	117.30M	shares	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$1.05M	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$730.00K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	117.40M	shares	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	149,167.00	shares	Point-in-time
Other non-current assets, net	`OtherAssetsNoncurrent`	$6.75M	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	137,860.00	shares	Point-in-time
Other non-current assets, net	`OtherAssetsNoncurrent`	$12.68M	USD	Point-in-time
Total assets	`Assets`	$218.78M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total assets	`Assets`	$221.19M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	900,000.00	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	900,000.00	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$11.91M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.87M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Share-based compensation liability	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$182.00K	USD	Point-in-time
Share-based compensation liability	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$182.00K	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accrued liabilities and other current liabilities	`AccruedLiabilitiesAndOtherLiabilitiesCurrent`	$8.75M	USD	Point-in-time
Accrued liabilities and other current liabilities	`AccruedLiabilitiesAndOtherLiabilitiesCurrent`	$8.75M	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$698.00K	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$430.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$13.23M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$21.54M	USD	Point-in-time
Non-current Common Stock Warrant liabilities	`NonCurrentCommonStockWarrantLiabilities`	$3.70M	USD	Point-in-time
Non-current Common Stock Warrant liabilities	`NonCurrentCommonStockWarrantLiabilities`	$12.03M	USD	Point-in-time
Non-current operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$3.00K	USD	Point-in-time
Non-current operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$15.00M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$33.58M	USD	Point-in-time
Total liabilities	`Liabilities`	$31.93M	USD	Point-in-time
Commitments and contingencies (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.0001 par value Authorized: 480.0 million shares at March 31, 2020 and December 31, 2019 Issued and outstanding: 117.4 million shares and 117.3 million shares at March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$12.00K	USD	Point-in-time
Common stock, $0.0001 par value Authorized: 480.0 million shares at March 31, 2020 and December 31, 2019 Issued and outstanding: 117.4 million shares and 117.3 million shares at March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$12.00K	USD	Point-in-time
Treasury stock: 149,167 shares and 137,860 shares at March 31, 2020 and December 31, 2019, respectively, at cost	`TreasuryStockValue`	$742.00K	USD	Point-in-time
Treasury stock: 149,167 shares and 137,860 shares at March 31, 2020 and December 31, 2019, respectively, at cost	`TreasuryStockValue`	$685.00K	USD	Point-in-time
Preferred stock, $0.0001 par value Authorized: 0.9 million, after designation of the Series A and Series B Convertible Preferred Stock Issued and outstanding: none at March 31, 2020 and December 31, 2019	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.0001 par value Authorized: 0.9 million, after designation of the Series A and Series B Convertible Preferred Stock Issued and outstanding: none at March 31, 2020 and December 31, 2019	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$218.97M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$224.09M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-132.80M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-133.70M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$89.72M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$85.44M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$73.68M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$83.22M	USD	Point-in-time
Total liabilities, Series A and Series B Convertible Preferred Stock and stockholders equity	`LiabilitiesAndStockholdersEquity`	$218.78M	USD	Point-in-time
Total liabilities, Series A and Series B Convertible Preferred Stock and stockholders equity	`LiabilitiesAndStockholdersEquity`	$221.19M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpenseRecovery`	$6.81M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpenseRecovery`	$12.02M	USD	1 Quarter
Land option and lease expenses	`LandOptionAndLeaseExpense`	$428.00K	USD	1 Quarter
Land option and lease expenses	`LandOptionAndLeaseExpense`	$411.00K	USD	1 Quarter
Depreciation expense	`Depreciation`	$16.00K	USD	1 Quarter
Depreciation expense	`Depreciation`	$41.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$12.49M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$7.24M	USD	1 Quarter
Total operating loss	`OperatingIncomeLoss`	$-12.49M	USD	1 Quarter
Total operating loss	`OperatingIncomeLoss`	$-7.24M	USD	1 Quarter
Gain (loss) on Common Stock Warrant liabilities	`GainLossOnRevaluationOfWarrants`	$8.34M	USD	1 Quarter
Gain (loss) on Common Stock Warrant liabilities	`GainLossOnRevaluationOfWarrants`	$-197.00K	USD	1 Quarter
Loss on redemption of investment securities	`RealizedInvestmentGainsLosses`	-	USD	1 Quarter
Loss on redemption of investment securities	`RealizedInvestmentGainsLosses`	$-412.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$466.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$233.00K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$-17.00K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$176.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$445.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$8.14M	USD	1 Quarter
Net income (loss) attributable to NextDecade Corporation	`NetIncomeLoss`	$-12.04M	USD	1 Quarter
Net income (loss) attributable to NextDecade Corporation	`NetIncomeLoss`	$902.00K	USD	1 Quarter
Preferred stock dividends	`DividendsPreferredStock`	$4.97M	USD	1 Quarter
Preferred stock dividends	`DividendsPreferredStock`	$3.44M	USD	1 Quarter
Deemed dividends on Series A Convertible Preferred Stock	`TemporaryEquityDividendsAdjustment`	$551.00K	USD	1 Quarter
Deemed dividends on Series A Convertible Preferred Stock	`TemporaryEquityDividendsAdjustment`	$76.00K	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.62M	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-17.57M	USD	1 Quarter
Net loss per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.16	USD	1 Quarter
Net loss per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	106.94M	shares	1 Quarter
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	117.35M	shares	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net income (loss) attributable to NextDecade Corporation	`NetIncomeLoss`	$-12.04M	USD	1 Quarter
Net income (loss) attributable to NextDecade Corporation	`NetIncomeLoss`	$902.00K	USD	1 Quarter
Depreciation	`Depreciation`	$16.00K	USD	1 Quarter
Depreciation	`Depreciation`	$41.00K	USD	1 Quarter
Share-based compensation expense (forfeiture)	`ShareBasedCompensation`	$5.34M	USD	1 Quarter
Share-based compensation expense (forfeiture)	`ShareBasedCompensation`	$-1.86M	USD	1 Quarter
Gain (loss) on Common Stock Warrant liabilities	`GainLossOnRevaluationOfWarrants`	$8.34M	USD	1 Quarter
Gain (loss) on Common Stock Warrant liabilities	`GainLossOnRevaluationOfWarrants`	$-197.00K	USD	1 Quarter
Gain on investment securities	`UnrealizedGainLossOnInvestments`	$184.00K	USD	1 Quarter
Gain on investment securities	`UnrealizedGainLossOnInvestments`	-	USD	1 Quarter
Realized loss (gain) on investment securities	`DebtAndEquitySecuritiesRealizedGainLoss`	$-423.00K	USD	1 Quarter
Realized loss (gain) on investment securities	`DebtAndEquitySecuritiesRealizedGainLoss`	$11.00K	USD	1 Quarter
Amortization of right-of-use assets	`RightofuseAssetAmortization`	$324.00K	USD	1 Quarter
Amortization of right-of-use assets	`RightofuseAssetAmortization`	$184.00K	USD	1 Quarter
Amortization of other non-current assets	`OtherDepreciationAndAmortization`	-	USD	1 Quarter
Amortization of other non-current assets	`OtherDepreciationAndAmortization`	$177.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$218.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$471.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-28.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$295.00K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-271.00K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-205.00K	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedExpensesAndOtherLiabilities`	$-1.15M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedExpensesAndOtherLiabilities`	$-5.36M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-14.24M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-8.01M	USD	1 Quarter
Acquisition of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$13.83M	USD	1 Quarter
Acquisition of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.88M	USD	1 Quarter
Acquisition of other non-current assets	`InvestingActivitiesOtherNoncurrentAssets`	-	USD	1 Quarter
Acquisition of other non-current assets	`InvestingActivitiesOtherNoncurrentAssets`	$6.11M	USD	1 Quarter
Proceeds from sale of investment securities	`ProceedsFromSaleOfAvailableForSaleSecuritiesDebt`	$61.97M	USD	1 Quarter
Proceeds from sale of investment securities	`ProceedsFromSaleOfAvailableForSaleSecuritiesDebt`	$17.00M	USD	1 Quarter
Purchase of investment securities	`PaymentsToAcquireInvestments`	$188.00K	USD	1 Quarter
Purchase of investment securities	`PaymentsToAcquireInvestments`	$439.00K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$10.68M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$41.85M	USD	1 Quarter
Proceeds from sale of Rio Bravo	`ProceedsFromDivestitureOfBusinessesFinancingActivities`	$15.00M	USD	1 Quarter
Proceeds from sale of Rio Bravo	`ProceedsFromDivestitureOfBusinessesFinancingActivities`	-	USD	1 Quarter
Preferred stock dividends	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$13.00K	USD	1 Quarter
Preferred stock dividends	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$11.00K	USD	1 Quarter
Shares repurchased related to share-based compensation	`PaymentsForRepurchaseOfCommonStock`	$57.00K	USD	1 Quarter
Shares repurchased related to share-based compensation	`PaymentsForRepurchaseOfCommonStock`	$260.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$14.93M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-271.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.40M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$42.54M	USD	1 Quarter
Cash and cash equivalents beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.17M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$15.74M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.57M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$58.28M	USD	Point-in-time
Cash and cash equivalents end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.17M	USD	Point-in-time
Cash and cash equivalents end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$15.74M	USD	Point-in-time
Cash and cash equivalents end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.57M	USD	Point-in-time
Cash and cash equivalents end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$58.28M	USD	Point-in-time
Accounts payable for acquisition of property, plant and equipment	`CapitalExpendituresIncurredButNotYetPaidIncludedInAccountsPayable`	$864.00K	USD	1 Quarter
Accounts payable for acquisition of property, plant and equipment	`CapitalExpendituresIncurredButNotYetPaidIncludedInAccountsPayable`	$3.34M	USD	1 Quarter
Accrued liabilities for acquisition of property, plant and equipment	`CapitalExpendituresIncurredButNotYetPaidIncludedInAccruedLiabilities`	$7.86M	USD	1 Quarter
Accrued liabilities for acquisition of property, plant and equipment	`CapitalExpendituresIncurredButNotYetPaidIncludedInAccruedLiabilities`	$1.09M	USD	1 Quarter
Paid-in-kind dividends on Series A and Series B Convertible Preferred Stock	`NoncashPaidinkindDividendsConvertiblePreferredStock`	$3.43M	USD	1 Quarter
Paid-in-kind dividends on Series A and Series B Convertible Preferred Stock	`NoncashPaidinkindDividendsConvertiblePreferredStock`	$2.49M	USD	1 Quarter
Dividends payable on Series A and Series B Convertible Preferred Stock charged to additional paid-in capital	`TemporaryEquityAccretionToRedemptionValue`	$2.48M	USD	1 Quarter
Dividends payable on Series A and Series B Convertible Preferred Stock charged to additional paid-in capital	`TemporaryEquityAccretionToRedemptionValue`	-	USD	1 Quarter
Accretion of deemed dividends on Series A Convertible Preferred Stock	`NoncashAccretionOfDeemedDividendsConvertiblePreferredStock`	$551.00K	USD	1 Quarter
Accretion of deemed dividends on Series A Convertible Preferred Stock	`NoncashAccretionOfDeemedDividendsConvertiblePreferredStock`	$76.00K	USD	1 Quarter

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$89.72M	USD	Point-in-time
Balance	`StockholdersEquity`	$85.44M	USD	Point-in-time
Balance	`StockholdersEquity`	$73.68M	USD	Point-in-time
Balance	`StockholdersEquity`	$83.22M	USD	Point-in-time
Share-based compensation	`SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCostEquityAwards`	$-1.60M	USD	1 Quarter
Share-based compensation	`SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCostEquityAwards`	$5.88M	USD	1 Quarter
Restricted stock vesting	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	$495.00K	USD	1 Quarter
Restricted stock vesting	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	1 Quarter
Shares repurchased related to share-based compensation	`TreasuryStockValueAcquiredCostMethod`	$260.00K	USD	1 Quarter
Shares repurchased related to share-based compensation	`TreasuryStockValueAcquiredCostMethod`	$57.00K	USD	1 Quarter
Preferred stock dividends	`AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings`	$4.97M	USD	1 Quarter
Preferred stock dividends	`AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings`	$3.44M	USD	1 Quarter
Deemed dividends - accretion of beneficial conversion feature	`AdjustmentsToAdditionalPaidInCapitalDeemedDividends`	$76.00K	USD	1 Quarter
Deemed dividends - accretion of beneficial conversion feature	`AdjustmentsToAdditionalPaidInCapitalDeemedDividends`	$551.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$-12.04M	USD	1 Quarter
Net income	`NetIncomeLoss`	$902.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$89.72M	USD	Point-in-time
Balance	`StockholdersEquity`	$85.44M	USD	Point-in-time
Balance	`StockholdersEquity`	$73.68M	USD	Point-in-time
Balance	`StockholdersEquity`	$83.22M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.