10-Q Filing

NEXTDECADE CORP CIK: 1612720 Q3 2018

Filing Information

Form Type	10-Q
Accession Number	`0001558370-18-009175`
Period End Date	20180930
Filing Date	20181109
Fiscal Year	2018
Fiscal Period	Q3
XBRL Instance	next-20180930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 59 Income Statement 68 Cash Flow Statement 53 Stockholders Equity 12

Balance Sheet 59 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$33.88M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$35.70M	USD	Point-in-time
Investments	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$5.06M	USD	Point-in-time
Investments	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$60.13M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.80M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.10M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$42.87M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$95.82M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	480.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	480.00M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$73.23M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	106.80M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$88.87M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	106.30M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	106.80M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	106.30M	shares	Point-in-time
Total assets	`Assets`	$116.09M	USD	Point-in-time
Total assets	`Assets`	$184.69M	USD	Point-in-time
Treasury Stock, shares	`TreasuryStockShares`	3,202.00	shares	Point-in-time
Treasury Stock, shares	`TreasuryStockShares`	0.00	shares	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$991.00K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	900,000.00	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	900,000.00	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$726.00K	USD	Point-in-time
Share-based compensation liability	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$1.81M	USD	Point-in-time
Share-based compensation liability	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$6.39M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accrued liabilities and other current liabilities	`AccruedLiabilitiesAndOtherLiabilitiesCurrent`	$5.86M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accrued liabilities and other current liabilities	`AccruedLiabilitiesAndOtherLiabilitiesCurrent`	$14.56M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.40M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$21.94M	USD	Point-in-time
Non-current common stock warrant liabilities	`NonCurrentCommonStockWarrantLiabilities`	$7.52M	USD	Point-in-time
Non-current compensation liabilities	`DeferredCompensationLiabilityClassifiedNoncurrent`	$2.02M	USD	Point-in-time
Non-current share-based compensation liability	`DeferredCompensationSharebasedArrangementsLiabilityClassifiedNoncurrent`	$2.59M	USD	Point-in-time
Total liabilities	`Liabilities`	$13.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$29.46M	USD	Point-in-time
Commitments and contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.0001 par value Authorized: 480.0 million shares at September 30, 2018 and December 31, 2017 Issued and outstanding: 106.8 million shares and 106.3 million shares at September 30, 2018 and December 31, 2017, respectively	`CommonStockValue`	$11.00K	USD	Point-in-time
Common stock, $0.0001 par value Authorized: 480.0 million shares at September 30, 2018 and December 31, 2017 Issued and outstanding: 106.8 million shares and 106.3 million shares at September 30, 2018 and December 31, 2017, respectively	`CommonStockValue`	$11.00K	USD	Point-in-time
Treasury stock: 3,202 shares and zero shares at September 30, 2018 and December 31, 2017, respectively, at cost	`TreasuryStockValue`	$19.00K	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 September 30, 2018 and December 31, 2017	`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 September 30, 2018 and December 31, 2017	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$176.27M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$158.74M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-55.62M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-86.02M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-40.00K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$103.09M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$90.25M	USD	Point-in-time
Total liabilities, Series A and Series B Convertible Preferred Stock and stockholders equity	`LiabilitiesAndStockholdersEquity`	$116.09M	USD	Point-in-time
Total liabilities, Series A and Series B Convertible Preferred Stock and stockholders equity	`LiabilitiesAndStockholdersEquity`	$184.69M	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	3 Qtrs
Revenues	`Revenues`	-	USD	3 Qtrs
Revenues	`Revenues`	-	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$18.39M	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$14.01M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$6.21M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$25.53M	USD	3 Qtrs
Invitation to bid contract costs	`BidContractCostsInvitation`	$4.42M	USD	3 Qtrs
Invitation to bid contract costs	`BidContractCostsInvitation`	$4.42M	USD	1 Quarter
Land option and lease expenses	`LandUnderOptionAgreementsLeaseExpenses`	$250.00K	USD	1 Quarter
Land option and lease expenses	`LandUnderOptionAgreementsLeaseExpenses`	$297.00K	USD	1 Quarter
Land option and lease expenses	`LandUnderOptionAgreementsLeaseExpenses`	$797.00K	USD	3 Qtrs
Land option and lease expenses	`LandUnderOptionAgreementsLeaseExpenses`	$733.00K	USD	3 Qtrs
Depreciation expense	`Depreciation`	$26.00K	USD	1 Quarter
Depreciation expense	`Depreciation`	$78.00K	USD	3 Qtrs
Depreciation expense	`Depreciation`	$50.00K	USD	1 Quarter
Depreciation expense	`Depreciation`	$127.00K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$14.29M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$10.98M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$19.20M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$30.88M	USD	3 Qtrs
Total operating loss	`OperatingIncomeLoss`	$-10.98M	USD	1 Quarter
Total operating loss	`OperatingIncomeLoss`	$-30.88M	USD	3 Qtrs
Total operating loss	`OperatingIncomeLoss`	$-14.29M	USD	1 Quarter
Total operating loss	`OperatingIncomeLoss`	$-19.20M	USD	3 Qtrs
Gain on common stock warrant liabilities	`GainLossOnRevaluationOfWarrants`	$83.00K	USD	3 Qtrs
Gain on common stock warrant liabilities	`GainLossOnRevaluationOfWarrants`	$83.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$145.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$236.00K	USD	3 Qtrs
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$222.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$475.00K	USD	3 Qtrs
Other	`OtherNonoperatingIncomeExpense`	$-45.00K	USD	3 Qtrs
Other	`OtherNonoperatingIncomeExpense`	$-31.00K	USD	3 Qtrs
Other	`OtherNonoperatingIncomeExpense`	$-6.00K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$-12.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$513.00K	USD	3 Qtrs
Total other income	`NonoperatingIncomeExpense`	$205.00K	USD	3 Qtrs
Total other income	`NonoperatingIncomeExpense`	$299.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$133.00K	USD	1 Quarter
Net loss attributable to NextDecade Corporation	`NetIncomeLoss`	$-10.68M	USD	1 Quarter
Net loss attributable to NextDecade Corporation	`NetIncomeLoss`	$-19.00M	USD	3 Qtrs
Net loss attributable to NextDecade Corporation	`NetIncomeLoss`	$-14.16M	USD	1 Quarter
Net loss attributable to NextDecade Corporation	`NetIncomeLoss`	$-30.36M	USD	3 Qtrs
Deemed dividends on Series A Convertible Preferred Stock	`TemporaryEquityDividendsAdjustment`	$271.00K	USD	1 Quarter
Deemed dividends on Series A Convertible Preferred Stock	`TemporaryEquityDividendsAdjustment`	$271.00K	USD	3 Qtrs
Net loss attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-30.63M	USD	3 Qtrs
Net loss attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-14.16M	USD	1 Quarter
Net loss attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-19.00M	USD	3 Qtrs
Net loss attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-10.95M	USD	1 Quarter
Net loss per common share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.19	USD	3 Qtrs
Net loss per common share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.10	USD	1 Quarter
Net loss per common share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.14	USD	1 Quarter
Net loss per common share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.29	USD	3 Qtrs
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	103.87M	shares	1 Quarter
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	106.48M	shares	3 Qtrs
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	106.64M	shares	1 Quarter
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	99.12M	shares	3 Qtrs
Net loss attributable to NextDecade Corporation	`NetIncomeLoss`	$-10.68M	USD	1 Quarter
Net loss attributable to NextDecade Corporation	`NetIncomeLoss`	$-19.00M	USD	3 Qtrs
Net loss attributable to NextDecade Corporation	`NetIncomeLoss`	$-14.16M	USD	1 Quarter
Net loss attributable to NextDecade Corporation	`NetIncomeLoss`	$-30.36M	USD	3 Qtrs
Change in fair value of investments	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$9.00K	USD	3 Qtrs
Change in fair value of investments	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$6.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-18.99M	USD	3 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-30.36M	USD	3 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-14.15M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-10.68M	USD	1 Quarter

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-30.36M	USD	3 Qtrs
Net loss	`ProfitLoss`	$-19.00M	USD	3 Qtrs
Depreciation	`Depreciation`	$26.00K	USD	1 Quarter
Depreciation	`Depreciation`	$78.00K	USD	3 Qtrs
Depreciation	`Depreciation`	$50.00K	USD	1 Quarter
Depreciation	`Depreciation`	$127.00K	USD	3 Qtrs
Share-based compensation expense	`ShareBasedCompensation`	$10.48M	USD	3 Qtrs
Share-based compensation expense	`ShareBasedCompensation`	$12.73M	USD	3 Qtrs
Gain on common stock warrant liabilities	`GainLossOnRevaluationOfWarrants`	$83.00K	USD	3 Qtrs
Gain on common stock warrant liabilities	`GainLossOnRevaluationOfWarrants`	$83.00K	USD	1 Quarter
Loss on investment securities	`UnrealizedGainLossOnInvestments`	$-28.00K	USD	3 Qtrs
Prepaid expenses and other currents assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-53.00K	USD	3 Qtrs
Prepaid expenses and other currents assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-295.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$190.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-42.00K	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedExpensesAndOtherLiabilities`	$4.66M	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedExpensesAndOtherLiabilities`	$209.00K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-12.65M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-7.99M	USD	3 Qtrs
Acquisition of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.46M	USD	3 Qtrs
Acquisition of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.69M	USD	3 Qtrs
Issuance of note receivable	`PaymentsForIssuanceOfNotesReceivable`	$115.00K	USD	3 Qtrs
Repayment of note receivable	`ProceedsFromSaleAndCollectionOfNotesReceivable`	$115.00K	USD	3 Qtrs
Cash received in reverse recapitalization	`CashReceivedFromReverseRecapitalization`	$26.77M	USD	3 Qtrs
Purchase of investments	`PaymentsToAcquireInvestments`	$54.00K	USD	3 Qtrs
Purchase of investments	`PaymentsToAcquireInvestments`	$55.10M	USD	3 Qtrs
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$16.03M	USD	3 Qtrs
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-66.56M	USD	3 Qtrs
Proceeds from equity issuance	`ProceedsFromIssuanceOrSaleOfEquity`	$30.10M	USD	3 Qtrs
Proceeds from equity issuance	`ProceedsFromIssuanceOrSaleOfEquity`	$79.06M	USD	1 Quarter
Proceeds from equity issuance	`ProceedsFromIssuanceOrSaleOfEquity`	$79.06M	USD	3 Qtrs
Equity issuance costs	`PaymentsOfStockIssuanceCosts`	$5.95M	USD	3 Qtrs
Equity issuance costs	`PaymentsOfStockIssuanceCosts`	$1.65M	USD	3 Qtrs
Shares repurchased related to share-based compensation	`PaymentsForRepurchaseOfCommonStock`	$19.00K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$24.15M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$77.38M	USD	3 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$32.19M	USD	3 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.82M	USD	3 Qtrs
Cash and cash equivalents beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$35.70M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$33.88M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$44.71M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$12.52M	USD	Point-in-time
Cash and cash equivalents end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$35.70M	USD	Point-in-time
Cash and cash equivalents end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$33.88M	USD	Point-in-time
Cash and cash equivalents end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$44.71M	USD	Point-in-time
Cash and cash equivalents end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$12.52M	USD	Point-in-time
Accounts payable for acquisition of property, plant and equipment	`CapitalExpendituresIncurredButNotYetPaidIncludedInAccountsPayable`	$656.00K	USD	3 Qtrs
Accounts payable for acquisition of property, plant and equipment	`CapitalExpendituresIncurredButNotYetPaidIncludedInAccountsPayable`	$1.27M	USD	3 Qtrs
Accrued liabilities for acquisition of property, plant and equipment	`CapitalExpendituresIncurredButNotYetPaidIncludedInAccruedLiabilities`	$1.84M	USD	3 Qtrs
Accrued liabilities for acquisition of property, plant and equipment	`CapitalExpendituresIncurredButNotYetPaidIncludedInAccruedLiabilities`	$6.06M	USD	3 Qtrs
Accounts payable for equity issuance costs	`EquityIssuanceCostsAccountsPayable`	$150.00K	USD	3 Qtrs
Accrued liabilities for equity issuance costs	`EquityIssuanceCostsAccruedLiabilities`	$301.00K	USD	3 Qtrs
Accretion of deemed dividends Series A Convertible Preferred Stock	`NoncashAccretionOfDeemedDividendsConvertiblePreferredStock`	$271.00K	USD	3 Qtrs

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Balance at the beginning of the period	`StockholdersEquity`	$103.09M	USD	Point-in-time
Balance at the beginning of the period	`StockholdersEquity`	$90.25M	USD	Point-in-time
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$13.17M	USD	3 Qtrs
Shares repurchased related to share-based compensation	`TreasuryStockValueAcquiredCostMethod`	$19.00K	USD	3 Qtrs
Issuance of preferred stock	`StockIssuedDuringPeriodValueNewIssues`	$4.64M	USD	3 Qtrs
Deemed dividends - accretion of beneficial conversion feature	`Dividends`	$271.00K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-10.68M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-19.00M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-14.16M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-30.36M	USD	3 Qtrs
Balance at the end of the period	`StockholdersEquity`	$103.09M	USD	Point-in-time
Balance at the end of the period	`StockholdersEquity`	$90.25M	USD	Point-in-time

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