10-Q Filing

NEXTDECADE CORP CIK: 1612720 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001558370-19-004273`
Period End Date	20190331
Filing Date	20190507
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	next-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 29 Cash Flow Statement 45 Stockholders Equity 16

Balance Sheet 63 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.17M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.57M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	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`	$56.09M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.78M	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	480.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$76.93M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	107.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	106.90M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$63.44M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	106.90M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	107.00M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$96.03M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$92.07M	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$1.38M	USD	Point-in-time
Treasury Stock, shares	`TreasuryStockShares`	71,566.00	shares	Point-in-time
Treasury Stock, shares	`TreasuryStockShares`	6,425.00	shares	Point-in-time
Total assets	`Assets`	$169.00M	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
Total assets	`Assets`	$160.84M	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
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
Accounts payable	`AccountsPayableCurrent`	$1.51M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$719.00K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Share-based compensation liability	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$3.02M	USD	Point-in-time
Share-based compensation liability	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$402.00K	USD	Point-in-time
Accrued liabilities and other current liabilities	`AccruedLiabilitiesAndOtherLiabilitiesCurrent`	$4.19M	USD	Point-in-time
Accrued liabilities and other current liabilities	`AccruedLiabilitiesAndOtherLiabilitiesCurrent`	$8.35M	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$1.32M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.42M	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 Common Stock Warrant liabilities	`NonCurrentCommonStockWarrantLiabilities`	$7.64M	USD	Point-in-time
Non-current operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$352.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$19.53M	USD	Point-in-time
Total liabilities	`Liabilities`	$15.41M	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.0001 par value Authorized: 480.0 million shares at March 31, 2019 and December 31, 2018 Issued and outstanding: 107.0 million shares and 106.9 million shares at March 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	$11.00K	USD	Point-in-time
Common stock, $0.0001 par value Authorized: 480.0 million shares at March 31, 2019 and December 31, 2018 Issued and outstanding: 107.0 million shares and 106.9 million shares at March 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	$11.00K	USD	Point-in-time
Treasury stock: 71,566 shares and 6,425 shares at March 31, 2019 and December 31, 2018, respectively, at cost	`TreasuryStockValue`	$295.00K	USD	Point-in-time
Treasury stock: 71,566 shares and 6,425 shares at March 31, 2019 and December 31, 2018, 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 March 31, 2019 and December 31, 2018	`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 March 31, 2019 and December 31, 2018	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$180.86M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$183.83M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-97.62M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-109.87M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$103.09M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$99.33M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$73.68M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$83.22M	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`	$160.84M	USD	Point-in-time

Income Statement 29 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$12.02M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$16.00M	USD	1 Quarter
Land option and lease expenses	`LandOptionAndLeaseExpenseTotal`	$250.00K	USD	1 Quarter
Land option and lease expenses	`LandOptionAndLeaseExpenseTotal`	$428.00K	USD	1 Quarter
Depreciation expense	`Depreciation`	$41.00K	USD	1 Quarter
Depreciation expense	`Depreciation`	$29.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$12.49M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$16.28M	USD	1 Quarter
Total operating loss	`OperatingIncomeLoss`	$-12.49M	USD	1 Quarter
Total operating loss	`OperatingIncomeLoss`	$-16.28M	USD	1 Quarter
Loss on Common Stock Warrant liabilities	`GainLossOnRevaluationOfWarrants`	$-197.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$122.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$466.00K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$-42.00K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$176.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$445.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$80.00K	USD	1 Quarter
Net loss attributable to NextDecade Corporation	`NetIncomeLoss`	$-16.20M	USD	1 Quarter
Net loss attributable to NextDecade Corporation	`NetIncomeLoss`	$-12.04M	USD	1 Quarter
Preferred stock dividends	`DividendsPreferredStock`	$4.97M	USD	1 Quarter
Deemed dividends on Series A Convertible Preferred Stock	`TemporaryEquityDividendsAdjustment`	$551.00K	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-17.57M	USD	1 Quarter
Net loss attributable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-16.20M	USD	1 Quarter
Net loss per common share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.15	USD	1 Quarter
Net loss per common share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.16	USD	1 Quarter
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	106.39M	shares	1 Quarter
Weighted average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	106.94M	shares	1 Quarter

Cash Flow Statement 45 line items

Line Item	Tag	Value	Unit	Period
Net loss attributable to NextDecade Corporation	`ProfitLoss`	$-16.20M	USD	1 Quarter
Net loss attributable to NextDecade Corporation	`ProfitLoss`	$-12.04M	USD	1 Quarter
Depreciation	`Depreciation`	$41.00K	USD	1 Quarter
Depreciation	`Depreciation`	$29.00K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$12.23M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$5.34M	USD	1 Quarter
Loss on Common Stock Warrant liabilities	`GainLossOnRevaluationOfWarrants`	$-197.00K	USD	1 Quarter
(Gain) loss on investment securities	`UnrealizedGainLossOnInvestments`	$184.00K	USD	1 Quarter
(Gain) loss on investment securities	`UnrealizedGainLossOnInvestments`	$-22.00K	USD	1 Quarter
Realized gain on investment securities	`GainOnSaleOfInvestments`	$11.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$183.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$471.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$274.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-156.00K	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedExpensesAndOtherLiabilities`	$-1.54M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedExpensesAndOtherLiabilities`	$-1.15M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.80M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-8.01M	USD	1 Quarter
Acquisition of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.88M	USD	1 Quarter
Acquisition of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.18M	USD	1 Quarter
Proceeds from sale of investment securities	`ProceedsFromSaleOfAvailableForSaleSecuritiesDebt`	$17.00M	USD	1 Quarter
Purchase of investment securities	`PaymentsToAcquireInvestments`	$439.00K	USD	1 Quarter
Purchase of investment securities	`PaymentsToAcquireInvestments`	$24.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.20M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$10.68M	USD	1 Quarter
Preferred stock dividends	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$11.00K	USD	1 Quarter
Shares repurchased related to share-based compensation	`PaymentsForRepurchaseOfCommonStock`	$260.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-271.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.40M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-11.00M	USD	1 Quarter
Cash and cash equivalents beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$24.70M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.57M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$35.70M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.17M	USD	Point-in-time
Cash and cash equivalents end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$24.70M	USD	Point-in-time
Cash and cash equivalents end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.57M	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`	$3.17M	USD	Point-in-time
Accounts payable for acquisition of property, plant and equipment	`CapitalExpendituresIncurredButNotYetPaidIncludedInAccountsPayable`	$864.00K	USD	1 Quarter
Accounts payable for acquisition of property, plant and equipment	`CapitalExpendituresIncurredButNotYetPaidIncludedInAccountsPayable`	$175.00K	USD	1 Quarter
Accrued liabilities for acquisition of property, plant and equipment	`CapitalExpendituresIncurredButNotYetPaidIncludedInAccruedLiabilities`	$4.47M	USD	1 Quarter
Accrued liabilities for acquisition of property, plant and equipment	`CapitalExpendituresIncurredButNotYetPaidIncludedInAccruedLiabilities`	$1.09M	USD	1 Quarter
Paid-in-kind dividends on Series A and Series B Convertible Preferred Stock	`NoncashPaidInKindDividendsConvertiblePreferredStock`	$2.49M	USD	1 Quarter
Dividends payable on Series A and Series B Convertible Preferred Stock charged to additional paid-in capital	`DividendPayableChargedToAdditionalPaidInCapital`	$2.48M	USD	1 Quarter
Accretion of deemed dividends on Series A Convertible Preferred Stock	`NoncashAccretionOfDeemedDividendsConvertiblePreferredStock`	$551.00K	USD	1 Quarter

Stockholders Equity 16 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`	$99.33M	USD	Point-in-time
Balance at the beginning of the period	`StockholdersEquity`	$73.68M	USD	Point-in-time
Balance at the beginning of the period	`StockholdersEquity`	$83.22M	USD	Point-in-time
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$12.44M	USD	1 Quarter
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$5.88M	USD	1 Quarter
Restricted stock vesting	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	$495.00K	USD	1 Quarter
Shares repurchased related to share-based compensation	`TreasuryStockValueAcquiredCostMethod`	$260.00K	USD	1 Quarter
Preferred stock dividends	`DividendsPreferredStock`	$4.97M	USD	1 Quarter
Deemed dividends - accretion of beneficial conversion feature	`DeemedDividendsAccretion`	$551.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-16.20M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-12.04M	USD	1 Quarter
Balance at the end of the period	`StockholdersEquity`	$103.09M	USD	Point-in-time
Balance at the end of the period	`StockholdersEquity`	$99.33M	USD	Point-in-time
Balance at the end of the period	`StockholdersEquity`	$73.68M	USD	Point-in-time
Balance at the end of the period	`StockholdersEquity`	$83.22M	USD	Point-in-time

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