10-Q Filing

NEXTDECADE CORP CIK: 1612720 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001437749-23-013939`
Period End Date	20230331
Filing Date	20230511
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	next20230331_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 30 Cash Flow Statement 58 Stockholders Equity 17

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$62.79M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$51.14M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.57M	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`	$52.71M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	480.00M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$218.65M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$243.87M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	480.00M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	149.40M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	143.50M	shares	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$1.22M	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$1.47M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	149.40M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	143.50M	shares	Point-in-time
Other non-current assets, net	`OtherAssetsNoncurrent`	$28.37M	USD	Point-in-time
Other non-current assets, net	`OtherAssetsNoncurrent`	$30.11M	USD	Point-in-time
Total assets	`Assets`	$312.43M	USD	Point-in-time
Treasury Stock, Common and Preferred, Shares	`TreasuryStockCommonAndPreferredShares`	991,089.00	shares	Point-in-time
Treasury Stock, Common and Preferred, Shares	`TreasuryStockCommonAndPreferredShares`	999,966.00	shares	Point-in-time
Total assets	`Assets`	$327.90M	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
Accounts payable	`AccountsPayableCurrent`	$1.85M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.08M	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
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 issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accrued liabilities and other current liabilities	`AccruedLiabilitiesAndOtherLiabilitiesCurrent`	$28.66M	USD	Point-in-time
Current common stock warrant liabilities	`CurrentCommonStockWarrantLiabilities`	$3.50M	USD	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
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$873.00K	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$1.09M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$34.89M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$25.36M	USD	Point-in-time
Non-current common stock warrant liabilities	`NonCurrentCommonStockWarrantLiabilities`	$6.79M	USD	Point-in-time
Non-current common stock warrant liabilities	`NonCurrentCommonStockWarrantLiabilities`	$3.65M	USD	Point-in-time
Non-current operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$465.00K	USD	Point-in-time
Non-current operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$395.00K	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`	$61.94M	USD	Point-in-time
Total liabilities	`Liabilities`	$55.62M	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, 2023 and December 31, 2022; Issued and outstanding: 149.4 million shares and 143.5 million shares at March 31, 2023 and December 31, 2022, respectively	`CommonStockValue`	$14.00K	USD	Point-in-time
Common stock, $0.0001 par value Authorized: 480.0 million shares at March 31, 2023 and December 31, 2022; Issued and outstanding: 149.4 million shares and 143.5 million shares at March 31, 2023 and December 31, 2022, respectively	`CommonStockValue`	$15.00K	USD	Point-in-time
Treasury stock: 999,966 shares and 991,089 shares at March 31, 2023 and December 31, 2022, respectively, at cost	`TreasuryStockValue`	$4.63M	USD	Point-in-time
Treasury stock: 999,966 shares and 991,089 shares at March 31, 2023 and December 31, 2022, respectively, at cost	`TreasuryStockValue`	$4.59M	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, 2023 and December 31, 2022	`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, 2023 and December 31, 2022	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$289.08M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$318.94M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-257.49M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-230.14M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$54.37M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$19.89M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$56.84M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$-135.00K	USD	Point-in-time
Total liabilities, convertible preferred stock and stockholders equity	`LiabilitiesAndStockholdersEquity`	$327.90M	USD	Point-in-time
Total liabilities, convertible preferred stock and stockholders equity	`LiabilitiesAndStockholdersEquity`	$312.43M	USD	Point-in-time

Income Statement 30 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`	$26.27M	USD	1 Quarter
Development expense, net	`DevelopmentExpense`	$1.54M	USD	1 Quarter
Development expense, net	`DevelopmentExpense`	$464.00K	USD	1 Quarter
Lease expense	`LandOptionAndLeaseExpense`	$219.00K	USD	1 Quarter
Lease expense	`LandOptionAndLeaseExpense`	$337.00K	USD	1 Quarter
Depreciation expense	`Depreciation`	$47.00K	USD	1 Quarter
Depreciation expense	`Depreciation`	$38.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$27.11M	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`	$-27.11M	USD	1 Quarter
Loss on common stock warrant liabilities	`GainLossOnRevaluationOfWarrants`	$-367.00K	USD	1 Quarter
Loss on common stock warrant liabilities	`GainLossOnRevaluationOfWarrants`	$-6.30M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$130.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$1.00K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-6.30M	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-237.00K	USD	1 Quarter
Net loss attributable to NextDecade Corporation	`NetIncomeLoss`	$-11.44M	USD	1 Quarter
Net loss attributable to NextDecade Corporation	`NetIncomeLoss`	$-27.35M	USD	1 Quarter
Preferred stock dividends	`DividendsPreferredStock`	$6.70M	USD	1 Quarter
Preferred stock dividends	`DividendsPreferredStock`	$5.75M	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-17.19M	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-34.05M	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`	$-0.23	USD	1 Quarter
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	121.33M	shares	1 Quarter
Weighted average shares outstanding - basic and diluted (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	146.93M	shares	1 Quarter

Cash Flow Statement 58 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`	$-27.35M	USD	1 Quarter
Depreciation	`Depreciation`	$47.00K	USD	1 Quarter
Depreciation	`Depreciation`	$38.00K	USD	1 Quarter
Share-based compensation expense (forfeiture)	`ShareBasedCompensation`	$1.56M	USD	1 Quarter
Share-based compensation expense (forfeiture)	`ShareBasedCompensation`	$-2.37M	USD	1 Quarter
Loss on common stock warrant liabilities	`GainLossOnRevaluationOfWarrants`	$-367.00K	USD	1 Quarter
Loss on common stock warrant liabilities	`GainLossOnRevaluationOfWarrants`	$-6.30M	USD	1 Quarter
Amortization of right-of-use assets	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$140.00K	USD	1 Quarter
Amortization of right-of-use assets	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$258.00K	USD	1 Quarter
Amortization of other non-current assets	`OtherDepreciationAndAmortization`	$354.00K	USD	1 Quarter
Amortization of other non-current assets	`OtherDepreciationAndAmortization`	-	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$194.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$421.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$114.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$815.00K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-290.00K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-156.00K	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedExpensesAndOtherLiabilities`	$1.84M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedExpensesAndOtherLiabilities`	$-2.99M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-23.18M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-10.19M	USD	1 Quarter
Acquisition of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$21.53M	USD	1 Quarter
Acquisition of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.31M	USD	1 Quarter
Acquisition of other non-current assets	`InvestingActivitiesOtherNoncurrentAssets`	$1.70M	USD	1 Quarter
Acquisition of other non-current assets	`InvestingActivitiesOtherNoncurrentAssets`	$1.88M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-23.40M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.02M	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`	-	USD	1 Quarter
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$35.00M	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`	$47.00K	USD	1 Quarter
Shares repurchased related to share-based compensation	`PaymentsForRepurchaseOfCommonStock`	$464.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$10.02M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$34.94M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-11.65M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-3.19M	USD	1 Quarter
Cash and cash equivalents beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$51.14M	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`	$22.36M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$62.79M	USD	Point-in-time
Cash and cash equivalents end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$51.14M	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`	$22.36M	USD	Point-in-time
Cash and cash equivalents end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$62.79M	USD	Point-in-time
Accounts payable for acquisition of property, plant and equipment	`CapitalExpendituresIncurredButNotYetPaidIncludedInAccountsPayable`	$339.00K	USD	1 Quarter
Accounts payable for acquisition of property, plant and equipment	`CapitalExpendituresIncurredButNotYetPaidIncludedInAccountsPayable`	$72.00K	USD	1 Quarter
Accrued liabilities for acquisition of property, plant and equipment	`CapitalExpendituresIncurredButNotYetPaidIncludedInAccruedLiabilities`	$839.00K	USD	1 Quarter
Accrued liabilities for acquisition of property, plant and equipment	`CapitalExpendituresIncurredButNotYetPaidIncludedInAccruedLiabilities`	$15.83M	USD	1 Quarter
Accrued liabilities for acquisition of other non-current assets	`CapitalExpendituresIncurredButNotYetPaidIncludedInNoncurrentAssets`	-	USD	1 Quarter
Accrued liabilities for acquisition of other non-current assets	`CapitalExpendituresIncurredButNotYetPaidIncludedInNoncurrentAssets`	$140.00K	USD	1 Quarter
Paid-in-kind dividends on Convertible Preferred Stock	`NoncashPaidinkindDividendsConvertiblePreferredStock`	$5.74M	USD	1 Quarter
Paid-in-kind dividends on Convertible Preferred Stock	`NoncashPaidinkindDividendsConvertiblePreferredStock`	$6.69M	USD	1 Quarter
Accounts payable for equity issuance costs	`LiabilitiesAccruedForEquityIssuanceCosts`	$50.00K	USD	1 Quarter
Accounts payable for equity issuance costs	`LiabilitiesAccruedForEquityIssuanceCosts`	-	USD	1 Quarter

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$54.37M	USD	Point-in-time
Balance	`StockholdersEquity`	$19.89M	USD	Point-in-time
Balance	`StockholdersEquity`	$56.84M	USD	Point-in-time
Balance	`StockholdersEquity`	$-135.00K	USD	Point-in-time
Share-based compensation	`SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCostEquityAwards`	$-2.37M	USD	1 Quarter
Share-based compensation	`SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCostEquityAwards`	$1.56M	USD	1 Quarter
Shares repurchased related to share-based compensation	`TreasuryStockValueAcquiredCostMethod`	$464.00K	USD	1 Quarter
Shares repurchased related to share-based compensation	`TreasuryStockValueAcquiredCostMethod`	$47.00K	USD	1 Quarter
Issuance of common stock, net	`StockIssuedDuringPeriodValueNewIssues`	$35.00M	USD	1 Quarter
Preferred stock dividends	`PreferredStockDividends`	$-6.70M	USD	1 Quarter
Preferred stock dividends	`PreferredStockDividends`	$-5.75M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-11.44M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-27.35M	USD	1 Quarter
Balance	`StockholdersEquity`	$54.37M	USD	Point-in-time
Balance	`StockholdersEquity`	$19.89M	USD	Point-in-time
Balance	`StockholdersEquity`	$56.84M	USD	Point-in-time
Balance	`StockholdersEquity`	$-135.00K	USD	Point-in-time

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