Short answer
NextDecade Corp (NEXT) filed its Q3 2025 10-Q quarterly report on Oct 30, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $0 with net income of −$109M.
Q3 2025 key financials · XBRL
- Revenue
- $0
- Net income
- −$109M
- +11.1% YoY · −79.9% QoQ
- EPS (diluted)
- −$0.42
- +10.6% YoY · −82.6% QoQ
Source: XBRL data from the NextDecade Corp (NEXT) Q3 2025 10-Q on SEC EDGAR. USD.
NextDecade Corp Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Risk Factors
- New regulatory risk: March 2025 D.C. Circuit Court remand of FERC order for Trains 1-5 requiring supplemental Environmental Impact Statement(SEIS) due to new executive orders
- Materially updated financial risk: October 2025 Train 5 project financing includes $6.7B total cost, $3.59B 7-year senior credit facility, $500M private notes at 6.56% interest amortizing over 20 years
- Impactful regulatory risk: August 2025 FERC order on remand reaffirmed siting/construction authorization for first five trains; order unappealable as of October 30, 2025
- Operational risk relevant near-term: Construction progress at Rio Grande LNG Facility as of Sep 2025, Phase 1 trains 55.9% complete, Train 4 engineering advancing with work commencement after FID in Sep 2025
- Financial risk: May 2025 Super Holdings Loan increased to $225M with 12% interest (payable in-kind until Mar 2027); warrants issued exercisable at $9.30/share for 5 years
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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