Fervo Energy Co's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters.
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 |
|---|---|---|
| Revenues | $113.0K | $61.0K |
| Operation and maintenance | $306.0K | $482.0K |
| Research and development (income) expense, net | ($712.0K) | ($72.0K) |
| General and administrative expense | $27.4M | $17.0M |
| Operating lease expense | $1.5M | $2.6M |
| Depreciation and amortization | $344.0K | $93.0K |
| Operating loss | ($28.7M) | ($20.1M) |
| Interest income | $10.5M | $2.8M |
| Interest expense | ($2.2M) | ($2.7M) |
| Other non-operating expense, net | ($35.5M) | ($11.9M) |
| Loss before income taxes | ($55.9M) | ($31.8M) |
| Income tax expense | ($1.0K) | — |
| Net loss | ($55.9M) | ($31.8M) |
| Less: Remeasurement of redeemable noncontrolling interest | ($3.6M) | ($3.4M) |
| Net loss attributable to common stock, basic | ($59.5M) | ($35.3M) |
| Net loss attributable to common stock, diluted | ($59.5M) | ($35.3M) |
| Weighted average shares, basic (in shares) | 157.0M | 9.5M |
| Weighted average shares, diluted (in shares) | 157.0M | 9.5M |
| Net loss per share attributable to common stockholders, basic (in usd per share) | -$0.38 | -$3.72 |
| Net loss per share attributable to common stockholders, diluted (in usd per share) | -$0.38 | -$3.72 |
| Line item | Jun 30, 2026 | Mar 31, 2026 |
|---|---|---|
| Cash and cash equivalents | $2.1B | $280.8M |
| Grant receivables | $17.2M | $16.8M |
| Prepaid expenses and other | $30.6M | $10.3M |
| Total current assets | $2.2B | $307.9M |
| Deposits | $12.6M | $15.2M |
| Construction-in-process | $1.2B | $972.0M |
| Operating leases right-of-use assets | $88.7M | $91.1M |
| Restricted cash | $11.0M | $6.0M |
| Other long-term assets | $33.5M | $35.2M |
| Total assets | $3.5B | $1.4B |
| Accounts payable | $29.7M | $8.0M |
| Accrued capital expenditures | $174.0M | $147.6M |
| Current portion of long-term debt | $11.0M | — |
| Operating lease liabilities | $24.7M | $25.3M |
| Other current liabilities | $10.6M | $20.9M |
| Total current liabilities | $250.0M | $201.9M |
| Long-term debt, net of issuance costs and current portion | $217.4M | $186.6M |
| Operating lease liabilities | $85.1M | $86.3M |
| Other long-term liabilities | $1.7M | $24.7M |
| Total liabilities | $554.3M | $499.6M |
| Temporary Equity, Carrying Amount, Attributable to Parent | $0 | $1.0B |
| Redeemable noncontrolling interest | $187.0M | $183.4M |
| Common stock | $30.0K | $1.0K |
| Additional paid-in capital | $3.1B | $0 |
| Treasury stock, at cost; 0 and 270 shares as of March 31, 2026 and December 31, 2025, respectively | 0 | -2.0M |
| Accumulated deficit | ($332.3M) | ($276.4M) |
| Total stockholders’ equity (deficit) | $2.8B | ($278.3M) |
| Total liabilities, mezzanine equity, and stockholders’ equity (deficit) | $3.5B | $1.4B |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 |
|---|---|---|
| Net loss | ($87.7M) | ($31.8M) |
| Depreciation and amortization expense | $437.0K | $93.0K |
| Amortization of debt issuance costs | $1.7M | $463.0K |
| Loss on extinguishment of debt | $9.0M | — |
| Stock-based compensation | $10.8M | $2.6M |
| Non-cash expense related to long-term operating leases | $2.6M | $6.0M |
| Non-cash expense related to warrant valuation | $40.0M | $13.1M |
| Non-cash income related to embedded derivative valuation | ($1.6M) | — |
| Non-cash income related to interest rate swap valuation | ($1.2M) | — |
| Grant receivable | $0 | $0 |
| Prepaid expenses and other | ($20.9M) | ($624.0K) |
| Deposits | $2.6M | ($8.0K) |
| Accounts payable | $5.1M | $1.2M |
| Accrued expenses | $0 | — |
| Net changes in other assets and liabilities | ($4.7M) | $1.2M |
| Net cash (used in) provided by operating activities | ($43.8M) | ($9.0M) |
| Capital expenditures | ($399.3M) | ($172.8M) |
| Net cash used in investing activities | ($399.3M) | ($172.8M) |
| Proceeds from initial public offering, net of underwriting discounts and commissions | $2.0B | — |
| Proceeds from issuance of common stock, net of issuance costs | $1.2M | $826.0K |
| Proceeds from long-term debt | $212.3M | $14.2M |
| Proceeds from warrant exercise | $18.8M | — |
| Repayment of long-term debt | ($152.1M) | — |
| Debt issuance costs related to long-term debt | ($20.9M) | ($14.2M) |
| Offering costs related to initial public offering | ($9.8M) | — |
| Proceeds from issuance of subsidiary stock, net of issuance costs | $0 | — |
| Treasury stock purchased | $0 | $0 |
| Other | ($56.0K) | ($56.0K) |
| Net cash provided by financing activities | $2.1B | $770.0K |
| Net change in cash and cash equivalents and restricted cash | $1.6B | ($181.1M) |
| Cash and cash equivalents and restricted cash at beginning of period | $467.8M | $467.8M |
| Cash and cash equivalents and restricted cash at end of period | $2.1B | $286.8M |
| Conversion of redeemable convertible preferred stock | $1.0B | — |
| Capital expenditures included in Accounts payable and Accrued capital expenditures | $197.5M | $153.4M |
| Settlement of warrant liability | $50.2M | — |
| Adjustment of redeemable noncontrolling interest | $7.0M | $3.4M |
| Cash paid for interest, net of amounts capitalized | $5.2M | $3.0M |
| Retirement of treasury stock | $2.0M | — |
Fervo Energy Co score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.