10-K Filing

NEXTDECADE CORP CIK: 1612720 FY 2018

Filing Information

Form Type	10-K
Accession Number	`0001558370-19-001591`
Period End Date	20181231
Filing Date	20190306
Fiscal Year	2018
Fiscal Period	FY
XBRL Instance	next-20181231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 35 Cash Flow Statement 50 Stockholders Equity 19

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$35.70M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.17M	USD	Point-in-time
Investment securities	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$72.45M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Investment securities	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$5.06M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	480.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.31M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.10M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	480.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$42.87M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	106.30M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$76.93M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	106.90M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	106.30M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	106.90M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$92.07M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$73.23M	USD	Point-in-time
Total assets	`Assets`	$169.00M	USD	Point-in-time
Treasury Stock, shares	`TreasuryStockShares`	0.00	shares	Point-in-time
Treasury Stock, shares	`TreasuryStockShares`	6,425.00	shares	Point-in-time
Total assets	`Assets`	$116.09M	USD	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
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
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$719.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Share-based compensation liability	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$3.02M	USD	Point-in-time
Share-based compensation liability	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$1.81M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	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
Accrued liabilities and other current liabilities	`AccruedLiabilitiesAndOtherLiabilitiesCurrent`	$8.35M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.40M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.09M	USD	Point-in-time
Non-current Common Stock Warrant liabilities	`NonCurrentCommonStockWarrantLiabilities`	$7.44M	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`	$19.53M	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 December 31, 2018 and December 31, 2017 Issued and outstanding: 106.9 million shares and 106.3 million shares at December 31, 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 December 31, 2018 and December 31, 2017 Issued and outstanding: 106.9 million shares and 106.3 million shares at December 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$11.00K	USD	Point-in-time
Treasury stock: 6,425 shares and zero shares at December 31, 2018 and December 31, 2017, respectively, at cost	`TreasuryStockValue`	$35.00K	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 December 31, 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 December 31, 2018 and December 31, 2017	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$158.74M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$180.86M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-55.62M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-97.62M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-40.00K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$68.10M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$83.22M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$103.09M	USD	Point-in-time
Total liabilities, Series A and Series B Convertible Preferred Stock and stockholders equity	`LiabilitiesAndStockholdersEquity`	$169.00M	USD	Point-in-time
Total liabilities, Series A and Series B Convertible Preferred Stock and stockholders equity	`LiabilitiesAndStockholdersEquity`	$116.09M	USD	Point-in-time

Income Statement 35 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	Annual
Revenues	`Revenues`	-	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$34.55M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$35.18M	USD	Annual
Invitation to Bid Contract Costs	`BidContractCostsInvitation`	$6.56M	USD	Annual
Land option and lease expenses	`LandUnderOptionAgreementsLeaseExpenses`	$1.10M	USD	Annual
Land option and lease expenses	`LandUnderOptionAgreementsLeaseExpenses`	$981.00K	USD	Annual
Depreciation expense	`Depreciation`	$171.00K	USD	Annual
Depreciation expense	`Depreciation`	$106.00K	USD	Annual
Total operating expenses	`OperatingExpenses`	$43.02M	USD	Annual
Total operating expenses	`OperatingExpenses`	$35.64M	USD	Annual
Total operating loss	`OperatingIncomeLoss`	$-43.02M	USD	Annual
Total operating loss	`OperatingIncomeLoss`	$-35.64M	USD	Annual
Gain on Common Stock Warrant liabilities	`GainLossOnRevaluationOfWarrants`	$164.00K	USD	Annual
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$343.00K	USD	Annual
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$1.02M	USD	Annual
Other	`OtherNonoperatingIncomeExpense`	$-128.00K	USD	Annual
Other	`OtherNonoperatingIncomeExpense`	$-31.00K	USD	Annual
Total other income	`NonoperatingIncomeExpense`	$312.00K	USD	Annual
Total other income	`NonoperatingIncomeExpense`	$1.05M	USD	Annual
Net loss attributable to NextDecade Corporation	`NetIncomeLoss`	$-35.33M	USD	Annual
Net loss attributable to NextDecade Corporation	`NetIncomeLoss`	$-41.96M	USD	Annual
Preferred stock dividends	`DividendsPreferredStock`	$724.00K	USD	Annual
Deemed dividends on Series A Convertible Preferred Stock	`TemporaryEquityDividendsAdjustment`	$822.00K	USD	Annual
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-35.33M	USD	Annual
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-43.51M	USD	Annual
Net loss per common share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.35	USD	Annual
Net loss per common share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.41	USD	Annual
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	100,926.00	shares	Annual
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	106,564.00	shares	Annual
Net loss attributable to NextDecade Corporation	`NetIncomeLoss`	$-35.33M	USD	Annual
Net loss attributable to NextDecade Corporation	`NetIncomeLoss`	$-41.96M	USD	Annual
Change in fair value of investments	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$-13.00K	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-35.34M	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-41.96M	USD	Annual

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net loss attributable to NextDecade Corporation	`ProfitLoss`	$-35.33M	USD	Annual
Net loss attributable to NextDecade Corporation	`ProfitLoss`	$-41.96M	USD	Annual
Depreciation	`Depreciation`	$171.00K	USD	Annual
Depreciation	`Depreciation`	$106.00K	USD	Annual
Share-based compensation expense	`ShareBasedCompensation`	$16.84M	USD	Annual
Share-based compensation expense	`ShareBasedCompensation`	$22.69M	USD	Annual
Gain on Common Stock Warrant liabilities	`GainLossOnRevaluationOfWarrants`	$164.00K	USD	Annual
Loss on investment securities	`UnrealizedGainLossOnInvestments`	$-114.00K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-440.00K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$1.00M	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-349.00K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-349.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$124.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-137.00K	USD	Annual
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedExpensesAndOtherLiabilities`	$801.00K	USD	Annual
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedExpensesAndOtherLiabilities`	$488.00K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-23.29M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-12.83M	USD	Annual
Acquisition of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$18.66M	USD	Annual
Acquisition of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$14.83M	USD	Annual
Issuance of note receivable	`PaymentsForIssuanceOfNotesReceivable`	$115.00K	USD	Annual
Repayment of note receivable	`ProceedsFromSaleAndCollectionOfNotesReceivable`	$115.00K	USD	Annual
Cash received in reverse recapitalization	`CashReceivedFromReverseRecapitalization`	$26.77M	USD	Annual
Proceeds from sale of investment securities	`ProceedsFromSaleOfAvailableForSaleSecurities`	$17.11M	USD	Annual
Purchase of investment securities	`PaymentsToAcquireInvestments`	$84.62M	USD	Annual
Purchase of investment securities	`PaymentsToAcquireInvestments`	$79.00K	USD	Annual
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$11.86M	USD	Annual
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-86.16M	USD	Annual
Proceeds from equity issuance	`ProceedsFromIssuanceOrSaleOfEquity`	$30.10M	USD	Annual
Proceeds from equity issuance	`ProceedsFromIssuanceOrSaleOfEquity`	$79.06M	USD	Annual
Equity issuance costs	`PaymentsOfStockIssuanceCosts`	$2.10M	USD	Annual
Equity issuance costs	`PaymentsOfStockIssuanceCosts`	$5.95M	USD	Annual
Shares repurchased related to share-based compensation	`PaymentsForRepurchaseOfCommonStock`	$35.00K	USD	Annual
Payment of convertible preferred stock cash dividends	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$4.00K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$24.15M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$76.91M	USD	Annual
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-32.53M	USD	Annual
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$23.18M	USD	Annual
Cash and cash equivalents beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.17M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$12.52M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$35.70M	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`	$12.52M	USD	Point-in-time
Cash and cash equivalents end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$35.70M	USD	Point-in-time
Accounts payable for acquisition of property, plant and equipment	`CapitalExpendituresIncurredButNotYetPaidIncludedInAccountsPayable`	$367.00K	USD	Annual
Accounts payable for acquisition of property, plant and equipment	`CapitalExpendituresIncurredButNotYetPaidIncludedInAccountsPayable`	$498.00K	USD	Annual
Accrued liabilities for acquisition of property, plant and equipment	`CapitalExpendituresIncurredButNotYetPaidIncludedInAccruedLiabilities`	$4.01M	USD	Annual
Accrued liabilities for acquisition of property, plant and equipment	`CapitalExpendituresIncurredButNotYetPaidIncludedInAccruedLiabilities`	$3.32M	USD	Annual
Paid-in-kind dividends on Series A Convertible Preferred Stock	`NoncashPaidInKindDividendsConvertiblePreferredStock`	$720.00K	USD	Annual
Accretion of deemed dividends on Series A Convertible Preferred Stock	`NoncashAccretionOfDeemedDividendsConvertiblePreferredStock`	$822.00K	USD	Annual

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Balance at the beginning of the period	`StockholdersEquity`	$68.10M	USD	Point-in-time
Balance at the beginning of the period	`StockholdersEquity`	$83.22M	USD	Point-in-time
Balance at the beginning of the period	`StockholdersEquity`	$103.09M	USD	Point-in-time
Pre-merger equity issuance	`StockIssuedDuringPeriodValuePreMergerEquityIssuance`	$20.10M	USD	Annual
Reverse recapitalization	`StockIssuedDuringPeriodValueReverseRecapitalization`	$26.77M	USD	Annual
Issuance of stock	`StockIssuedDuringPeriodValueNewIssues`	$4.64M	USD	Annual
Issuance of stock	`StockIssuedDuringPeriodValueNewIssues`	$10.00M	USD	Annual
Equity issuance costs	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$6.29M	USD	Annual
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$19.75M	USD	Annual
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$19.03M	USD	Annual
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-13.00K	USD	Annual
Shares repurchased related to share-based compensation	`TreasuryStockValueAcquiredCostMethod`	$35.00K	USD	Annual
Preferred stock dividends	`DividendsPreferredStock`	$724.00K	USD	Annual
Deemed dividends - accretion of beneficial conversion feature	`DeemedDividendsAccretion`	$822.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-35.33M	USD	Annual
Net loss	`NetIncomeLoss`	$-41.96M	USD	Annual
Balance at the end of the period	`StockholdersEquity`	$68.10M	USD	Point-in-time
Balance at the end of the period	`StockholdersEquity`	$83.22M	USD	Point-in-time
Balance at the end of the period	`StockholdersEquity`	$103.09M	USD	Point-in-time

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