10-Q Filing

NEXTDECADE CORP CIK: 1612720 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001437749-22-012132`
Period End Date	20220331
Filing Date	20220512
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	next20220331_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 32 Cash Flow Statement 60 Stockholders Equity 17

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$22.36M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$25.55M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$835.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.03M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$23.39M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$26.39M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	480.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	480.00M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$173.82M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$175.17M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	121.60M	shares	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$590.00K	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$450.00K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	120.80M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	121.60M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	120.80M	shares	Point-in-time
Other non-current assets, net	`OtherAssetsNoncurrent`	$21.31M	USD	Point-in-time
Other non-current assets, net	`OtherAssetsNoncurrent`	$22.66M	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	346.13M	shares	Point-in-time
Total assets	`Assets`	$221.67M	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	541.26M	shares	Point-in-time
Total assets	`Assets`	$222.10M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	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`	500,000.00	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$516.00K	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	500,000.00	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$281.00K	USD	Point-in-time
Share-based compensation liability	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$182.00K	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Share-based compensation liability	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$182.00K	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
Accrued liabilities and other current liabilities	`AccruedLiabilitiesAndOtherLiabilitiesCurrent`	$5.79M	USD	Point-in-time
Accrued liabilities and other current liabilities	`AccruedLiabilitiesAndOtherLiabilitiesCurrent`	$2.81M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Current common stock warrant liabilities	`CurrentCommonStockWarrantLiabilities`	$1.38M	USD	Point-in-time
Current common stock warrant liabilities	`CurrentCommonStockWarrantLiabilities`	$3.29M	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$596.00K	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$440.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.24M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.23M	USD	Point-in-time
Non-current common stock warrant liabilities	`NonCurrentCommonStockWarrantLiabilities`	$7.62M	USD	Point-in-time
Non-current common stock warrant liabilities	`NonCurrentCommonStockWarrantLiabilities`	$2.59M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$23.00M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$23.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$33.81M	USD	Point-in-time
Total liabilities	`Liabilities`	$37.86M	USD	Point-in-time
Commitments and contingencies (Note 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.0001 par value; Authorized: 480.0 million shares at March 31, 2022 and December 31, 2021; Issued and outstanding: 121.6 million shares and 120.8 million shares at March 31, 2022 and December 31, 2021, respectively	`CommonStockValue`	$12.00K	USD	Point-in-time
Common stock, $0.0001 par value; Authorized: 480.0 million shares at March 31, 2022 and December 31, 2021; Issued and outstanding: 121.6 million shares and 120.8 million shares at March 31, 2022 and December 31, 2021, respectively	`CommonStockValue`	$12.00K	USD	Point-in-time
Treasury stock: 541,258 shares and 346,126 shares at March 31, 2022 and December 31, 2021, respectively, at cost	`TreasuryStockValue`	$1.31M	USD	Point-in-time
Treasury stock: 541,258 shares and 346,126 shares at March 31, 2022 and December 31, 2021, respectively, at cost	`TreasuryStockValue`	$1.78M	USD	Point-in-time
Preferred stock, $0.0001 par value; Authorized: 0.5 million, after designation of the Convertible Preferred Stock; Issued and outstanding: none at March 31, 2022 and December 31, 2021	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.0001 par value; Authorized: 0.5 million, after designation of the Convertible Preferred Stock; Issued and outstanding: none at March 31, 2022 and December 31, 2021	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$191.26M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$183.14M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-181.51M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-170.07M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$-135.00K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$49.42M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$19.89M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$60.43M	USD	Point-in-time
Total liabilities, convertible preferred stock and stockholders equity	`LiabilitiesAndStockholdersEquity`	$221.67M	USD	Point-in-time
Total liabilities, convertible preferred stock and stockholders equity	`LiabilitiesAndStockholdersEquity`	$222.10M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpenseRecovery`	$3.32M	USD	1 Quarter
General and administrative expense	`GeneralAndAdministrativeExpenseRecovery`	$1.37M	USD	1 Quarter
Development expense	`DevelopmentExpense`	-	USD	1 Quarter
Development expense	`DevelopmentExpense`	$1.54M	USD	1 Quarter
Lease expense	`LandOptionAndLeaseExpense`	$204.00K	USD	1 Quarter
Lease expense	`LandOptionAndLeaseExpense`	$219.00K	USD	1 Quarter
Depreciation expense	`Depreciation`	$47.00K	USD	1 Quarter
Depreciation expense	`Depreciation`	$48.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.62M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.13M	USD	1 Quarter
Total operating loss	`OperatingIncomeLoss`	$-5.13M	USD	1 Quarter
Total operating loss	`OperatingIncomeLoss`	$-1.62M	USD	1 Quarter
Loss on common stock warrant liabilities	`GainLossOnRevaluationOfWarrants`	$-6.30M	USD	1 Quarter
Loss on common stock warrant liabilities	`GainLossOnRevaluationOfWarrants`	$-2.04M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$1.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$1.00K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-6.30M	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-2.04M	USD	1 Quarter
Net loss attributable to NextDecade Corporation	`NetIncomeLoss`	$-11.44M	USD	1 Quarter
Net loss attributable to NextDecade Corporation	`NetIncomeLoss`	$-3.66M	USD	1 Quarter
Preferred stock dividends	`DividendsPreferredStock`	$3.88M	USD	1 Quarter
Preferred stock dividends	`DividendsPreferredStock`	$5.75M	USD	1 Quarter
Deemed dividends on Series A Convertible Preferred Stock	`TemporaryEquityDividendsAdjustment`	-	USD	1 Quarter
Deemed dividends on Series A Convertible Preferred Stock	`TemporaryEquityDividendsAdjustment`	$16.00K	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-17.19M	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-7.55M	USD	1 Quarter
Net loss per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasic`	$-0.14	USD	1 Quarter
Net loss per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasic`	$-0.06	USD	1 Quarter
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	118.26M	shares	1 Quarter
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	121.33M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net loss attributable to NextDecade Corporation	`NetIncomeLoss`	$-11.44M	USD	1 Quarter
Net loss attributable to NextDecade Corporation	`NetIncomeLoss`	$-3.66M	USD	1 Quarter
Depreciation	`Depreciation`	$47.00K	USD	1 Quarter
Depreciation	`Depreciation`	$48.00K	USD	1 Quarter
Share-based compensation expense (forfeiture)	`ShareBasedCompensation`	$-3.73M	USD	1 Quarter
Share-based compensation expense (forfeiture)	`ShareBasedCompensation`	$-2.37M	USD	1 Quarter
Loss on common stock warrant liabilities	`GainLossOnRevaluationOfWarrants`	$-6.30M	USD	1 Quarter
Loss on common stock warrant liabilities	`GainLossOnRevaluationOfWarrants`	$-2.04M	USD	1 Quarter
Amortization of right-of-use assets	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$139.00K	USD	1 Quarter
Amortization of right-of-use assets	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$140.00K	USD	1 Quarter
Amortization of other non-current assets	`OtherDepreciationAndAmortization`	$354.00K	USD	1 Quarter
Amortization of other non-current assets	`OtherDepreciationAndAmortization`	$354.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$169.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$194.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$114.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-45.00K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-156.00K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-158.00K	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedExpensesAndOtherLiabilities`	$-2.99M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedExpensesAndOtherLiabilities`	$1.39M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.79M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-10.19M	USD	1 Quarter
Acquisition of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.31M	USD	1 Quarter
Acquisition of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.38M	USD	1 Quarter
Acquisition of other non-current assets	`InvestingActivitiesOtherNoncurrentAssets`	$1.70M	USD	1 Quarter
Acquisition of other non-current assets	`InvestingActivitiesOtherNoncurrentAssets`	$1.53M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.02M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.92M	USD	1 Quarter
Proceeds from sale of Series C Convertible Preferred Stock	`ProceedsFromIssuanceOfConvertiblePreferredStock`	$10.50M	USD	1 Quarter
Proceeds from sale of Series C Convertible Preferred Stock	`ProceedsFromIssuanceOfConvertiblePreferredStock`	$24.50M	USD	1 Quarter
Equity issuance costs	`PaymentsOfStockIssuanceCosts`	$54.00K	USD	1 Quarter
Equity issuance costs	`PaymentsOfStockIssuanceCosts`	-	USD	1 Quarter
Preferred stock dividends	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$19.00K	USD	1 Quarter
Preferred stock dividends	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$13.00K	USD	1 Quarter
Shares repurchased related to share-based compensation	`PaymentsForRepurchaseOfCommonStock`	$464.00K	USD	1 Quarter
Shares repurchased related to share-based compensation	`PaymentsForRepurchaseOfCommonStock`	$44.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$10.02M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$24.39M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-3.19M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$16.68M	USD	1 Quarter
Cash and cash equivalents beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$22.61M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$22.36M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$25.55M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$39.29M	USD	Point-in-time
Cash and cash equivalents end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$22.61M	USD	Point-in-time
Cash and cash equivalents end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$22.36M	USD	Point-in-time
Cash and cash equivalents end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$25.55M	USD	Point-in-time
Cash and cash equivalents end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$39.29M	USD	Point-in-time
Accounts payable for acquisition of property, plant and equipment	`CapitalExpendituresIncurredButNotYetPaidIncludedInAccountsPayable`	$79.00K	USD	1 Quarter
Accounts payable for acquisition of property, plant and equipment	`CapitalExpendituresIncurredButNotYetPaidIncludedInAccountsPayable`	$339.00K	USD	1 Quarter
Accrued liabilities for acquisition of property, plant and equipment	`CapitalExpendituresIncurredButNotYetPaidIncludedInAccruedLiabilities`	$395.00K	USD	1 Quarter
Accrued liabilities for acquisition of property, plant and equipment	`CapitalExpendituresIncurredButNotYetPaidIncludedInAccruedLiabilities`	$839.00K	USD	1 Quarter
Pipeline assets obtained in exchange for other non-current liabilities	`PipelineAssetsInExchangeForOtherNonCurrentLiabilities`	-	USD	1 Quarter
Pipeline assets obtained in exchange for other non-current liabilities	`PipelineAssetsInExchangeForOtherNonCurrentLiabilities`	$84.00K	USD	1 Quarter
Paid-in-kind dividends on Convertible Preferred Stock	`NoncashPaidinkindDividendsConvertiblePreferredStock`	$3.86M	USD	1 Quarter
Paid-in-kind dividends on Convertible Preferred Stock	`NoncashPaidinkindDividendsConvertiblePreferredStock`	$5.74M	USD	1 Quarter
Accrued liabilities for equity issuance costs	`LiabilitiesAccruedForEquityIssuanceCosts`	$50.00K	USD	1 Quarter
Accrued liabilities for equity issuance costs	`LiabilitiesAccruedForEquityIssuanceCosts`	-	USD	1 Quarter
Accretion of deemed dividends on Series A Convertible Preferred Stock	`NoncashAccretionOfDeemedDividendsConvertiblePreferredStock`	$16.00K	USD	1 Quarter
Accretion of deemed dividends on Series A Convertible Preferred Stock	`NoncashAccretionOfDeemedDividendsConvertiblePreferredStock`	-	USD	1 Quarter

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-135.00K	USD	Point-in-time
Balance	`StockholdersEquity`	$49.42M	USD	Point-in-time
Balance	`StockholdersEquity`	$19.89M	USD	Point-in-time
Balance	`StockholdersEquity`	$60.43M	USD	Point-in-time
Share-based compensation	`SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCostEquityAwards`	$-3.41M	USD	1 Quarter
Share-based compensation	`SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCostEquityAwards`	$-2.37M	USD	1 Quarter
Shares repurchased related to share-based compensation	`TreasuryStockValueAcquiredCostMethod`	$464.00K	USD	1 Quarter
Shares repurchased related to share-based compensation	`TreasuryStockValueAcquiredCostMethod`	$44.00K	USD	1 Quarter
Preferred stock dividends	`PreferredStockDividends`	$-5.75M	USD	1 Quarter
Preferred stock dividends	`PreferredStockDividends`	$-3.88M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-11.44M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.66M	USD	1 Quarter
Deemed dividends - accretion of beneficial conversion feature	`AdjustmentsToAdditionalPaidInCapitalDeemedDividends`	$16.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$-135.00K	USD	Point-in-time
Balance	`StockholdersEquity`	$49.42M	USD	Point-in-time
Balance	`StockholdersEquity`	$19.89M	USD	Point-in-time
Balance	`StockholdersEquity`	$60.43M	USD	Point-in-time

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