NextDecade Corporation (NEXT) Income Statement
NEXT 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsNEXT revenue and net income
NEXT profit margins
NEXT growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | — | — | — | — |
| Gross profit | — | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | −350.6% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
NEXT quarterly EPS vs estimates
NextDecade beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: October 29, 2026 (estimate $-0.53).
NEXT income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $196 | $0 | $0 | $0 | $0 |
| Cost of revenue | $12.1M | $12.7M | $6.3M | $162,000 | $184,000 | $1.8M | $2.3M | $1.3M | $1.1M | $100,000 |
| Gross profit | −$12.1M | −$12.7M | −$6.3M | −$162,000 | −$184,000 | −$1.8M | −$2.3M | −$1.3M | −$1.1M | −$100,000 |
| Research & development | $8.0M | $8.3M | $4.9M | $4.1M | $1.6M | $0 | — | $0 | $0 | $0 |
| Sales, general & admin | $202.3M | $150.1M | $111.5M | $50.2M | $17.7M | $20.2M | $22.5M | $35.2M | $34.6M | $689,568 |
| Total operating expenses | $213.8M | $158.4M | $116.4M | $54.3M | $19.3M | $20.2M | $32.7M | $43.0M | $34.6M | $689,568 |
| Operating income | −$225.9M | −$171.1M | −$122.7M | −$54.5M | −$19.5M | −$22.0M | −$35.0M | −$43.0M | −$35.6M | −$689,568 |
| Interest income | — | — | — | — | $2,000 | $243,000 | $1.7M | $1.0M | $343,000 | $254,870 |
| Interest expense | $170.0M | $87.5M | $84.7M | $5.7M | $2.5M | $243,000 | $1.7M | $1.0M | $343,000 | $254,870 |
| Income before taxes | −$429.6M | $277.4M | −$221.6M | −$60.1M | −$22.0M | −$14.3M | −$35.9M | −$42.0M | −$35.3M | −$434,698 |
| Income taxes | — | −$339.2M | −$59.4M | $5.6M | $2.5M | −$7.7M | $939,000 | $36,000 | −$343,000 | −$100,000 |
| Net income | −$306.4M | −$61.8M | −$162.3M | −$60.1M | −$22.0M | −$14.3M | −$35.9M | −$42.0M | −$35.3M | −$434,698 |
| EBITDA | −$328.0M | $306.3M | −$209.6M | −$59.2M | −$21.3M | −$28.0M | −$31.1M | −$43.0M | −$35.3M | −$689,568 |
| EPS (diluted) | −$1.93 | $0.77 | −$0.56 | −$0.64 | −$0.33 | −$0.33 | −$0.34 | −$0.34 | −$0.34 | −$0.10 |
| Gross margin | — | — | — | — | — | −917,857.1% | — | — | — | — |
| Operating margin | — | — | — | — | — | −11,230,612.2% | — | — | — | — |
| Net margin | — | — | — | — | — | −7,310,714.3% | — | — | — | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $7.8M | $0 | $0 | $0 | $910,000 | $0 |
| Cost of revenue | $7.9M | $3.0M | $3.0M | $3.0M | $3.0M | $3.1M | $614,000 | $3.2M | $3.2M | $3.1M | $51,000 | $42,000 |
| Gross profit | −$7.9M | −$3.0M | −$3.0M | −$3.0M | −$3.0M | −$3.1M | −$614,000 | −$3.2M | −$3.2M | −$3.1M | −$51,000 | −$42,000 |
| Research & development | $2.9M | $2.1M | $3.6M | $2.9M | $1.2M | $307,000 | $956,000 | $2.4M | $2.4M | $2.5M | $2.9M | $1.1M |
| Sales, general & admin | $30.3M | $49.9M | $39.2M | $66.1M | $52.0M | $44.9M | $42.7M | $43.6M | $33.9M | $32.5M | $29.2M | $34.7M |
| Total operating expenses | $54.6M | $52.1M | $42.8M | $69.0M | $53.3M | $48.8M | $43.7M | $46.0M | $36.3M | $35.0M | $32.1M | $35.8M |
| Operating income | −$54.6M | −$55.1M | −$45.8M | −$72.0M | −$56.3M | −$51.9M | −$44.3M | −$49.2M | −$39.5M | −$38.1M | −$32.1M | −$35.8M |
| Interest income | — | — | — | — | — | — | — | — | — | — | — | $966,000 |
| Interest expense | $90.8M | $79.2M | $75.3M | $38.6M | $28.8M | $27.2M | $20.1M | $15.9M | $26.0M | $25.5M | $17.7M | $32.5M |
| Income before taxes | −$60.2M | −$195.0M | $71.0M | −$184.8M | −$70.6M | −$245.2M | $481.4M | −$393.1M | $2.3M | $186.8M | −$255.8M | $181.8M |
| Income taxes | — | — | — | — | — | — | — | — | $34.9M | $158.4M | −$126.6M | $105.4M |
| Net income | −$65.4M | −$136.4M | −$47.3M | −$109.5M | −$60.9M | −$88.8M | $65.7M | −$123.2M | −$32.6M | $28.3M | −$129.3M | $114.6M |
| EBITDA | −$131.3M | −$143.9M | $68.8M | −$143.2M | −$37.3M | −$233.2M | $437.9M | −$375.5M | $30.2M | $197.3M | −$235.6M | $214.5M |
| EPS (diluted) | −$0.69 | −$0.51 | −$0.89 | −$0.42 | −$0.29 | −$0.34 | $0.25 | $0.80 | −$0.39 | $0.11 | $0.53 | −$0.60 |
| Gross margin | — | — | — | — | — | — | −7.9% | — | — | — | −5.6% | — |
| Operating margin | — | — | — | — | — | — | −569.0% | — | — | — | −3,532.5% | — |
| Net margin | — | — | — | — | — | — | 844.2% | — | — | — | −14,204.9% | — |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in NEXT's financial statements (latest annual report filed March 2, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
NEXT financial results
NextDecade reported no revenue in fiscal year 2025 (ended December 31, 2025). It had a net loss of $306.4 million. Diluted earnings per share came to −$1.93.
See the NEXT stock overview for the latest quote and news, or the NEXT chart for price history and technical indicators.
NEXT income statement FAQ
Does NextDecade have revenue?
NextDecade reported no revenue for fiscal year 2025, which ended on December 31, 2025.
Is NextDecade profitable?
No. NextDecade reported a net loss of $306.4 million in fiscal 2025.
How much does NextDecade spend on research and development?
NextDecade spent $8.0 million on research and development in fiscal 2025.
What are NextDecade's earnings per share?
NextDecade earned $-1.93 per diluted share in fiscal 2025, compared with $0.77 a year earlier.
When will NextDecade report its next earnings?
NextDecade is expected to report results for the quarter ending September 30, 2026 on October 29, 2026 before the market opens.
When does NextDecade's fiscal year end?
NextDecade's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 2, 2026.