NextDecade Corporation

Market Cap

$2B

Energy·Oil & Gas Exploration & Production·🇺🇸 United States·NASDAQ

Energy·Oil & Gas Exploration & Production·🇺🇸·NASDAQ

Stock Price

$6.84+$1.46 (+27.14%)

Apr 17, 2026

Company Details

NextDecade Corporation engages in the development activities related to the liquefaction and sale of liquefied natural gas (LNG); and capture and storage of CO2 emissions. The company focuses on the development activities on the Rio Grande ...

CEO

Matthew K. Schatzman

IPO Date

Jun 16, 2015

Website

www.next-decade.com

Key Metrics TTM

Revenue

$0

— YoY

Net Income

-$48M

EPS (Diluted)

-$0.19

Free Cash Flow

-$3.5B

Revenue / Share

$0.00

Gross Margin

—

Operating Margin

—

Net Margin

—

FCF Margin

—

P/S

—

P/E

—

Earnings Reports

Q4 2025

May 5, 2026

PENDING

Q3 2025

Oct 30, 2025

$0EPS -$0.42

Q4 2024

Feb 27, 2025

$0EPS $0.25

Q2 2024

Aug 14, 2024

$0EPS -$0.13

Q1 2024

May 9, 2024

$0EPS $0.11

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 20	$0	-$614.0K	-$4M
Q1 21	$0	-$541.0K	-$2M
Q2 21	$0	-$541.0K	-$7M
Q3 21	$0	-$530.0K	-$3M
Q4 21	$0	-$539.0K	-$8M
Q1 22	$0	-$541.0K	-$5M
Q2 22	$0	-$232.0K	-$13M
Q3 22	$0	-$41.0K	-$16M
Q4 22	$0	-$267.0K	-$20M
Q1 23	$0	-$38.0K	-$27M
Q2 23	$0	-$38.0K	-$28M
Q4 23	$0	-$2M	-$32M
Q1 24	$0	-$1M	-$38M
Q2 24	$0	-$2M	-$40M
Q4 24	$0	-$2M	-$44M
Q3 25	$0	-$6M	-$72M

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 20	-$4M	-$6M
Q1 21	-$4M	-$6M
Q2 21	-$4M	-$7M
Q3 21	-$5M	-$7M
Q4 21	-$6M	-$9M
Q1 22	-$10M	-$12M
Q2 22	-$7M	-$9M
Q3 22	-$10M	-$14M
Q4 22	-$12M	-$40M
Q1 23	-$23M	-$45M
Q2 23	-$18M	-$49M
Q4 23	-$21M	-$763M
Q1 24	-$29M	-$825M
Q2 24	$6M	-$572M
Q4 24	-$9M	-$704M
Q3 25	-$76M	-$1.4B

Capital Expenditures

Quarter	CapEx
Q4 20	$2M
Q1 21	$2M
Q2 21	$3M
Q3 21	$3M
Q4 21	$4M
Q1 22	$1M
Q2 22	$1M
Q3 22	$3M
Q4 22	$28M
Q1 23	$22M
Q2 23	$31M
Q4 23	$742M
Q1 24	$796M
Q2 24	$578M
Q4 24	$695M
Q3 25	$1.4B

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 20	—	-68.0%
Q1 21	—	-77.6%
Q2 21	—	+30.7%
Q3 21	—	-42.1%
Q4 21	—	+96.2%
Q1 22	—	+216.7%
Q2 22	—	+88.2%
Q3 22	—	+399.7%
Q4 22	—	+160.2%
Q1 23	—	+428.0%
Q2 23	—	+115.1%
Q4 23	—	+99.8%
Q1 24	—	+86.5%
Q2 24	—	+45.8%
Q4 24	—	+60.5%
Q3 25	—	+123.9%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 20	$418.0K	—
Q1 21	-$4M	—
Q2 21	$867.0K	—
Q3 21	-$3M	—
Q4 21	$1M	—
Q1 22	-$2M	—
Q2 22	$3M	—
Q3 22	$3M	—
Q4 22	$4M	—
Q1 23	$2M	—
Q2 23	$11M	—
Q4 23	$4M	—
Q1 24	$4M	—
Q2 24	$4M	—
Q4 24	$6M	—
Q3 25	$0	—

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q4 20	—	—	$3M
Q1 21	—	—	$1M
Q2 21	—	—	$6M
Q3 21	—	—	$3M
Q4 21	—	—	$7M
Q1 22	$2M	—	$3M
Q2 22	$1M	—	$11M
Q3 22	$1M	$15M	—
Q4 22	$231.0K	—	$20M
Q1 23	$464.0K	$27M	—
Q2 23	$418.0K	$27M	—
Q4 23	$3M	—	$27M
Q1 24	$3M	$33M	—
Q2 24	$2M	$34M	—
Q4 24	$956.0K	—	$42M
Q3 25	$3M	—	$64M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$22M	$0	$22M
Q2 22	$41M	$0	$41M
Q3 22	$109M	$0	$109M
Q4 22	$63M	$0	$63M
Q1 23	$51M	$0	$51M
Q2 23	$40M	$0	$40M
Q3 23	$51M	$0	$51M
Q4 23	$38M	$0	$38M
Q1 24	$46M	$0	$46M
Q2 24	$38M	$0	$38M
Q3 24	$38M	$0	$38M
Q4 24	$148M	$0	$148M
Q1 25	$131M	$0	$131M
Q2 25	$159M	$0	$159M
Q3 25	$209M	$0	$209M
Q4 25	$144M	$0	$144M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 20	118M	-0.0%	+7.8%
Q1 21	118M	+0.6%	+0.8%
Q2 21	118M	+0.1%	+0.8%
Q3 21	119M	+0.8%	+1.5%
Q4 21	121M	+1.2%	+2.8%
Q1 22	121M	+0.5%	+2.6%
Q2 22	126M	+4.1%	+6.7%
Q3 22	129M	+2.5%	+8.4%
Q4 22	130M	+0.6%	+7.8%
Q1 23	147M	+12.9%	+21.1%
Q2 23	151M	+2.7%	+19.5%
Q4 23	254M	+68.5%	+96.5%
Q1 24	267M	+4.9%	+105.1%
Q2 24	258M	-3.4%	+75.5%
Q4 24	260M	+0.9%	+72.4%
Q3 25	263M	+0.9%	+3.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 20	$0	52
Q1 21	$0	52
Q2 21	$0	52
Q3 21	$0	52
Q4 21	$0	57
Q1 22	$0	57
Q2 22	$0	57
Q3 22	$0	57
Q4 22	$0	102
Q1 23	$0	102
Q2 23	$0	102
Q4 23	$0	147
Q1 24	$0	147
Q2 24	$0	147
Q4 24	$0	237
Q3 25	$0	237

Revenue / Employee