What is NET Power's gross margin?

NET Power (NPWR) reported gross margin of 91.7% in Q2 2025.

How has NET Power's gross margin changed year-over-year?

NET Power's gross margin increased by 4.9% year-over-year, from 87.4% to 91.7%.

What does gross margin mean?

Gross profit (revenue minus cost of revenue) as a percentage of revenue, on a trailing-twelve-month basis. Measures how much of each sales dollar survives the direct cost of producing the goods or services sold.

NET Power NPWR Gross margin

Gross margin at other companies

Ormat TechnologiesORA

27.5%-2.6pp

NuScale PowerSMR

24.2%-54.3pp

ArganAGX

20.9%+3.3pp

Natural Gas Services GroupNGS

59.4%+2.9pp

FuelCell EnergyFCEL

-18.2%-3.7pp

GE VernovaGEV

19.9%+2.0pp

Other financials

Income statement

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Revenue-—

Gross profit-—

Operating income-$34.2M+92.8%

Net income-$9.9M+91.7%

EPS (diluted)-$0.12+92.3%

Balance sheet

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Cash & equivalents$134.3M-55.6%

Total debt$3.6M+28.6%

Total equity$205.3M-67.8%

Total assets$542.8M-70.5%

Cash flow

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Operating cash flow-$51.1M-151%

CapEx$8.2M-8.2%

Free cash flow-$59.3M-102%

Valuation

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Market cap$147.6M-21.2%

Enterprise value$16.8M-115%

Profitability

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Operating margin-5,523,266.7%-5,662,660pp

Net margin-1,508,283.3%-1,547,773pp

FCF margin-1,076,558.3%-1,129,620pp

Returns & leverage

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Return on equity-111.4%-154pp

Debt / equity0×0.0×

Current ratio23.8×+0.5×

Where this comes from

Calculated from NET Power’s reported figures.

gross profit/total revenue=91.7%

Based on trailing twelve months.

The official record: NET Power’s 10-Q, filed August 11, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is NET Power's gross margin?: NET Power (NPWR) reported gross margin of 91.7% in Q2 2025.
How has NET Power's gross margin changed year-over-year?: NET Power's gross margin increased by 4.9% year-over-year, from 87.4% to 91.7%.
What does gross margin mean?: Gross profit (revenue minus cost of revenue) as a percentage of revenue, on a trailing-twelve-month basis. Measures how much of each sales dollar survives the direct cost of producing the goods or services sold.