10-K Filing

NEXTDECADE CORP CIK: 1612720 FY 2022

Filing Information

Form Type	10-K
Accession Number	`0001437749-23-006171`
Period End Date	20221231
Filing Date	20230310
Fiscal Year	2022
Fiscal Period	FY
XBRL Instance	next20221122_10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 32 Cash Flow Statement 62 Stockholders Equity 20

Balance Sheet 67 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$62.79M	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`	$1.15M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$63.94M	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
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$173.82M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$218.65M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	480.00M	shares	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$1.47M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	143.50M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	120.80M	shares	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$590.00K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$28.37M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$21.31M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	143.50M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	120.80M	shares	Point-in-time
Total assets	`Assets`	$312.43M	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	991,089.00	shares	Point-in-time
Total assets	`Assets`	$222.10M	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	346,126.00	shares	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
Accounts payable	`AccountsPayableCurrent`	$1.08M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$281.00K	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	500,000.00	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	500,000.00	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accrued liabilities and other current liabilities	`AccruedLiabilitiesAndOtherLiabilitiesCurrent`	$5.97M	USD	Point-in-time
Accrued liabilities and other current liabilities	`AccruedLiabilitiesAndOtherLiabilitiesCurrent`	$23.18M	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
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Current Common Stock Warrant liabilities	`CurrentCommonStockWarrantLiabilities`	-	USD	Point-in-time
Current Common Stock Warrant liabilities	`CurrentCommonStockWarrantLiabilities`	$1.38M	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$1.09M	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$596.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.23M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$25.36M	USD	Point-in-time
Non-current Common Stock Warrant liabilities	`NonCurrentCommonStockWarrantLiabilities`	$2.59M	USD	Point-in-time
Non-current Common Stock Warrant liabilities	`NonCurrentCommonStockWarrantLiabilities`	$6.79M	USD	Point-in-time
Non-current operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Non-current operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$465.00K	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`	$55.62M	USD	Point-in-time
Commitments and contingencies (Note 14)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 14)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.0001 par value Authorized: 480.0 million shares at December 31, 2022 and 2021, Issued and outstanding: 143.5 million shares and 120.8 million shares at December 31, 2022 and 2021, respectively	`CommonStockValue`	$12.00K	USD	Point-in-time
Common stock, $0.0001 par value Authorized: 480.0 million shares at December 31, 2022 and 2021, Issued and outstanding: 143.5 million shares and 120.8 million shares at December 31, 2022 and 2021, respectively	`CommonStockValue`	$14.00K	USD	Point-in-time
Treasury stock: 991,089 shares and 346,126 shares at December 31, 2022 and 2021, respectively, at cost	`TreasuryStockValue`	$4.59M	USD	Point-in-time
Treasury stock: 991,089 shares and 346,126 shares at December 31, 2022 and 2021, respectively, at cost	`TreasuryStockValue`	$1.31M	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 December 31, 2022 and 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 December 31, 2022 and 2021	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$289.08M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$191.26M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-170.07M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-230.14M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$19.89M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$54.37M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$60.43M	USD	Point-in-time
Total liabilities, Convertible Preferred Stock and stockholders equity	`LiabilitiesAndStockholdersEquity`	$222.10M	USD	Point-in-time
Total liabilities, Convertible Preferred Stock and stockholders equity	`LiabilitiesAndStockholdersEquity`	$312.43M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	Annual
Revenues	`Revenues`	-	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpenseRecovery`	$16.80M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpenseRecovery`	$49.09M	USD	Annual
Development expense, net	`DevelopmentExpense`	$4.10M	USD	Annual
Development expense, net	`DevelopmentExpense`	$1.61M	USD	Annual
Lease expense	`LandOptionAndLeaseExpense`	$905.00K	USD	Annual
Lease expense	`LandOptionAndLeaseExpense`	$1.12M	USD	Annual
Depreciation expense	`Depreciation`	$162.00K	USD	Annual
Depreciation expense	`Depreciation`	$184.00K	USD	Annual
Total operating expenses	`OperatingExpenses`	$54.48M	USD	Annual
Total operating expenses	`OperatingExpenses`	$19.51M	USD	Annual
Total operating loss	`OperatingIncomeLoss`	$-54.48M	USD	Annual
Total operating loss	`OperatingIncomeLoss`	$-19.51M	USD	Annual
Loss on Common Stock Warrant liabilities	`GainLossOnRevaluationOfWarrants`	$-2.53M	USD	Annual
Loss on Common Stock Warrant liabilities	`GainLossOnRevaluationOfWarrants`	$-5.75M	USD	Annual
Other, net	`OtherNonoperatingIncomeExpense`	$151.00K	USD	Annual
Other, net	`OtherNonoperatingIncomeExpense`	$1.00K	USD	Annual
Total other expense	`NonoperatingIncomeExpense`	$-2.53M	USD	Annual
Total other expense	`NonoperatingIncomeExpense`	$-5.60M	USD	Annual
Net loss attributable to NextDecade Corporation	`NetIncomeLoss`	$-22.04M	USD	Annual
Net loss attributable to NextDecade Corporation	`NetIncomeLoss`	$-60.07M	USD	Annual
Preferred stock dividends	`DividendsPreferredStock`	$24.28M	USD	Annual
Preferred stock dividends	`DividendsPreferredStock`	$18.29M	USD	Annual
Deemed dividends on Series A Convertible Preferred Stock	`TemporaryEquityDividendsAdjustment`	-	USD	Annual
Deemed dividends on Series A Convertible Preferred Stock	`TemporaryEquityDividendsAdjustment`	$63.00K	USD	Annual
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-40.40M	USD	Annual
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-84.35M	USD	Annual
Net loss per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasic`	$-0.65	USD	Annual
Net loss per common share - basic and diluted (in dollars per share)	`EarningsPerShareBasic`	$-0.34	USD	Annual
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	130.14M	shares	Annual
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	119.20M	shares	Annual

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss attributable to NextDecade Corporation	`NetIncomeLoss`	$-22.04M	USD	Annual
Net loss attributable to NextDecade Corporation	`NetIncomeLoss`	$-60.07M	USD	Annual
Depreciation	`Depreciation`	$162.00K	USD	Annual
Depreciation	`Depreciation`	$184.00K	USD	Annual
Share-based compensation expense (forfeiture)	`ShareBasedCompensation`	$7.47M	USD	Annual
Share-based compensation expense (forfeiture)	`ShareBasedCompensation`	$-4.31M	USD	Annual
Loss on Common Stock Warrant liabilities	`GainLossOnRevaluationOfWarrants`	$-2.53M	USD	Annual
Loss on Common Stock Warrant liabilities	`GainLossOnRevaluationOfWarrants`	$-5.75M	USD	Annual
Amortization of right-of-use assets	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$551.00K	USD	Annual
Amortization of right-of-use assets	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$756.00K	USD	Annual
Amortization of other non-current assets	`OtherDepreciationAndAmortization`	$1.42M	USD	Annual
Amortization of other non-current assets	`OtherDepreciationAndAmortization`	$354.00K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$314.00K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$186.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$684.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-26.00K	USD	Annual
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-548.00K	USD	Annual
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-678.00K	USD	Annual
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedExpensesAndOtherLiabilities`	$4.47M	USD	Annual
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedExpensesAndOtherLiabilities`	$5.81M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-40.08M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-17.96M	USD	Annual
Acquisition of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$12.11M	USD	Annual
Acquisition of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$33.75M	USD	Annual
Acquisition of other non-current assets	`InvestingActivitiesOtherNoncurrentAssets`	$6.43M	USD	Annual
Acquisition of other non-current assets	`InvestingActivitiesOtherNoncurrentAssets`	$7.13M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-18.53M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-40.89M	USD	Annual
Proceeds from sale of Series C Convertible Preferred Stock	`ProceedsFromIssuanceOfConvertiblePreferredStock`	$39.50M	USD	Annual
Proceeds from sale of Series C Convertible Preferred Stock	`ProceedsFromIssuanceOfConvertiblePreferredStock`	$10.50M	USD	Annual
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$557.00K	USD	Annual
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$115.00M	USD	Annual
Equity issuance costs	`PaymentsOfStockIssuanceCosts`	$3.95M	USD	Annual
Equity issuance costs	`PaymentsOfStockIssuanceCosts`	$268.00K	USD	Annual
Preferred stock dividends	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$67.00K	USD	Annual
Preferred stock dividends	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$75.00K	USD	Annual
Shares repurchased related to share-based compensation	`PaymentsForRepurchaseOfCommonStock`	$284.00K	USD	Annual
Shares repurchased related to share-based compensation	`PaymentsForRepurchaseOfCommonStock`	$3.27M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$118.20M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$39.44M	USD	Annual
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$37.24M	USD	Annual
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.94M	USD	Annual
Cash and cash equivalents beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$62.79M	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`	$22.61M	USD	Point-in-time
Cash and cash equivalents end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$62.79M	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`	$22.61M	USD	Point-in-time
Accounts payable for acquisition of property, plant and equipment	`CapitalExpendituresIncurredButNotYetPaidIncludedInAccountsPayable`	$162.00K	USD	Annual
Accounts payable for acquisition of property, plant and equipment	`CapitalExpendituresIncurredButNotYetPaidIncludedInAccountsPayable`	$117.00K	USD	Annual
Accrued liabilities for acquisition of property, plant and equipment	`CapitalExpendituresIncurredButNotYetPaidIncludedInAccruedLiabilities`	$12.05M	USD	Annual
Accrued liabilities for acquisition of property, plant and equipment	`CapitalExpendituresIncurredButNotYetPaidIncludedInAccruedLiabilities`	$926.00K	USD	Annual
Accrued liabilities for acquisition of other non-current assets	`CapitalExpendituresIncurredButNotYetPaidIncludedInNoncurrentAssets`	-	USD	Annual
Accrued liabilities for acquisition of other non-current assets	`CapitalExpendituresIncurredButNotYetPaidIncludedInNoncurrentAssets`	$279.00K	USD	Annual
Pipeline assets obtained in exchange for other non-current liabilities	`PipelineAssetsInExchangeForOtherNonCurrentLiabilities`	-	USD	Annual
Pipeline assets obtained in exchange for other non-current liabilities	`PipelineAssetsInExchangeForOtherNonCurrentLiabilities`	$84.00K	USD	Annual
Paid-in-kind dividends on Convertible Preferred Stock	`NoncashPaidinkindDividendsConvertiblePreferredStock`	$18.23M	USD	Annual
Paid-in-kind dividends on Convertible Preferred Stock	`NoncashPaidinkindDividendsConvertiblePreferredStock`	$24.21M	USD	Annual
Accretion of deemed dividends on Series A Convertible Preferred Stock	`NoncashAccretionOfDeemedDividendsConvertiblePreferredStock`	$63.00K	USD	Annual
Accretion of deemed dividends on Series A Convertible Preferred Stock	`NoncashAccretionOfDeemedDividendsConvertiblePreferredStock`	-	USD	Annual
Accrued liabilities for equity issuance costs	`LiabilitiesAccruedForEquityIssuanceCosts`	$35.00K	USD	Annual
Accrued liabilities for equity issuance costs	`LiabilitiesAccruedForEquityIssuanceCosts`	-	USD	Annual

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$19.89M	USD	Point-in-time
Balance	`StockholdersEquity`	$54.37M	USD	Point-in-time
Balance	`StockholdersEquity`	$60.43M	USD	Point-in-time
Share-based compensation	`SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCostEquityAwards`	$-4.54M	USD	Annual
Share-based compensation	`SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCostEquityAwards`	$7.47M	USD	Annual
Shares repurchased related to share-based compensation	`TreasuryStockValueAcquiredCostMethod`	$284.00K	USD	Annual
Shares repurchased related to share-based compensation	`TreasuryStockValueAcquiredCostMethod`	$3.27M	USD	Annual
Issuance of common stock, net	`StockIssuedDuringPeriodValueNewIssues`	$111.07M	USD	Annual
Issuance of common stock, net	`StockIssuedDuringPeriodValueNewIssues`	$316.00K	USD	Annual
Exercise of common stock warrants (in shares)	`StockIssuedDuringPeriodExerciseOfWarrantsShares`	500,000.00	shares	Annual
Exercise of common stock warrants	`AdjustmentsToAdditionalPaidInCapitalWarrantsExercised`	$3.56M	USD	Annual
Exercise of common stock warrants	`AdjustmentsToAdditionalPaidInCapitalWarrantsExercised`	$4.37M	USD	Annual
Preferred stock dividends	`PreferredStockDividends`	$-24.28M	USD	Annual
Preferred stock dividends	`PreferredStockDividends`	$-18.29M	USD	Annual
Deemed dividends - accretion of beneficial conversion feature	`AdjustmentsToAdditionalPaidInCapitalDeemedDividends`	$-63.00K	USD	Annual
Net Loss	`NetIncomeLoss`	$-22.04M	USD	Annual
Net Loss	`NetIncomeLoss`	$-60.07M	USD	Annual
Balance	`StockholdersEquity`	$19.89M	USD	Point-in-time
Balance	`StockholdersEquity`	$54.37M	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.