NextDecade (NEXT) 10-Q 11 Aug 22 2022 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Aug. 05, 2022
Document Information [Line Items]
Entity Central Index Key	0001612720
Entity Registrant Name	NextDecade Corp.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2022
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-36842
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-5723951
Entity Address, Address Line One	1000 Louisiana Street, Suite 3900
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77002
City Area Code	713
Local Phone Number	574-1880
Title of 12(b) Security	Common Stock, $0.0001 par value
Trading Symbol	NEXT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		128,692,482

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 40,500	$ 25,552
Prepaid expenses and other current assets	1,001	835
Total current assets	41,501	26,387
Property, plant and equipment, net	177,420	173,816
Operating lease right-of-use assets, net	1,257	590
Other non-current assets, net	24,566	21,312
Total assets	244,744	222,105
Current liabilities
Accounts payable	1,456	281
Share-based compensation liability	182	182
Accrued liabilities and other current liabilities	5,315	5,791
Current common stock warrant liabilities	0	1,376
Current operating lease liabilities	963	596
Total current liabilities	7,916	8,226
Non-current common stock warrant liabilities	5,461	2,587
Non-current operating lease liabilities	364	0
Other non-current liabilities	23,000	23,000
Total liabilities	36,741	33,813
Commitments and contingencies (Note 13)
Stockholders’ equity
Common stock, $0.0001 par value Authorized: 480.0 million shares at June 30, 2022 and December 31, 2021; Issued and outstanding: 127.3 million shares and 120.8 million shares at June 30, 2022 and December 31, 2021, respectively	13	12
Treasury stock: 742,263 shares and 346,126 shares at June 30, 2022 and December 31, 2021, respectively, at cost	(3,067)	(1,315)
Preferred stock, $0.0001 par value Authorized: 0.5 million, after designation of the Convertible Preferred Stock Issued and outstanding: none at June 30, 2022 and December 31, 2021	0	0
Additional paid-in-capital	213,749	191,264
Accumulated deficit	(192,418)	(170,069)
Total stockholders’ equity	18,277	19,892
Total liabilities, convertible preferred stock and stockholders’ equity	244,744	222,105
Series A Convertible Preferred Stock [Member]
Current liabilities
Convertible Preferred Stock	68,259	63,791
Series B Convertible Preferred Stock [Member]
Current liabilities
Convertible Preferred Stock	68,863	64,602
Series C Convertible Preferred Stock [Member]
Current liabilities
Convertible Preferred Stock	$ 52,604	$ 40,007

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares shares in Thousands	Jun. 30, 2022	Dec. 31, 2021
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	480,000	480,000
Common stock, shares issued (in shares)	127,300	120,800
Common stock, shares outstanding (in shares)	127,300	120,800
Treasury stock, shares (in shares)	742,263	346,126
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	500	500
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Series A Convertible Preferred Stock [Member]
Temporary equity, liquidation preference (in dollars per share)	$ 1,000	$ 1,000
Temporary equity, shares issued (in shares)	78,181	73,713
Temporary equity, shares outstanding (in shares)	78,181	73,713
Series B Convertible Preferred Stock [Member]
Temporary equity, liquidation preference (in dollars per share)	$ 1,000	$ 1,000
Temporary equity, shares issued (in shares)	74,694	70,433
Temporary equity, shares outstanding (in shares)	74,694	70,433
Series C Convertible Preferred Stock [Member]
Temporary equity, liquidation preference (in dollars per share)	$ 1,000	$ 1,000
Temporary equity, shares issued (in shares)	55,961	42,490
Temporary equity, shares outstanding (in shares)	55,961	42,490

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues	$ 0	$ 0	$ 0	$ 0
Operating expenses
General and administrative expense	11,293	6,533	14,616	7,903
Development expense	1,193	0	2,738	0
Lease expense	290	234	509	438
Depreciation expense	42	45	89	93
Total operating expenses	12,818	6,812	17,952	8,434
Total operating loss	(12,818)	(6,812)	(17,952)	(8,434)
Other income (expense)
Gain (loss) on common stock warrant liabilities	1,886	(4,768)	(4,418)	(6,806)
Other, net	20	0	21	2
Total other expense	1,906	(4,768)	(4,397)	(6,804)
Net loss attributable to NextDecade Corporation	(10,912)	(11,580)	(22,349)	(15,238)
Preferred stock dividends	(5,774)	(3,876)	(11,529)	(7,751)
Deemed dividends on Series A Convertible Preferred Stock	0	(15)	0	(31)
Net loss attributable to common stockholders	$ (16,686)	$ (15,471)	$ (33,878)	$ (23,020)
Net loss per common share - basic and diluted (in dollars per share)	$ (0.13)	$ (0.13)	$ (0.27)	$ (0.19)
Weighted average shares outstanding - basic and diluted (in shares)	126,314	118,382	123,835	118,322

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity and Convertible Preferred Stock (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Series A Convertible Preferred Stock [Member]	Series B Convertible Preferred Stock [Member]	Series C Convertible Preferred Stock [Member]	Total
Balance (in shares) at Dec. 31, 2020	117,829,000	249,000
Balance at Dec. 31, 2020	$ 12	$ (1,031)	$ 209,481	$ (148,030)	$ 55,522	$ 56,781	$ 0	$ 60,432
Share-based compensation			(2,146)					(2,146)
Restricted stock vesting (in shares)	305,000
Shares repurchased related to share-based compensation (in shares)	(51,000)	51,000
Shares repurchased related to share-based compensation		$ (140)						(140)
Issuance of common stock, net							33,173
Preferred stock dividends			(7,751)		3,956	3,768	0	(7,751)
Net income	$ 0	$ 0	0	(15,238)	0	0	0	(15,238)
Balance (in shares) at Jun. 30, 2021	118,482,000	300,000
Balance at Jun. 30, 2021	$ 12	$ (1,171)	199,553	(163,268)	59,509	60,549	33,173	35,126
Balance (in shares) at Mar. 31, 2021	118,342,000	269,000
Balance at Mar. 31, 2021	$ 12	$ (1,075)	202,176	(151,688)	57,516	58,665	23,629	49,425
Share-based compensation			1,268					1,268
Restricted stock vesting (in shares)	171,000
Shares repurchased related to share-based compensation (in shares)	(31,000)	31,000
Shares repurchased related to share-based compensation		$ (96)						(96)
Issuance of common stock, net							9,544
Preferred stock dividends			(3,876)		1,978	1,884	0	(3,876)
Net income	$ 0	$ 0	0	(11,580)	0	0	0	(11,580)
Balance (in shares) at Jun. 30, 2021	118,482,000	300,000
Balance at Jun. 30, 2021	$ 12	$ (1,171)	199,553	(163,268)	59,509	60,549	33,173	35,126
Balance (in shares) at Dec. 31, 2021	120,838,000	346,000
Balance at Dec. 31, 2021	$ 12	$ (1,315)	191,264	(170,069)	63,791	64,602	40,007	19,892
Share-based compensation			515					515
Restricted stock vesting (in shares)	1,673,000
Shares repurchased related to share-based compensation (in shares)	(396,000)	396,000
Shares repurchased related to share-based compensation		$ (1,752)						(1,752)
Issuance of common stock, net (in shares)	4,618,000
Issuance of common stock, net	$ 1		29,935				9,836	29,936
Exercise of common stock warrants (in shares)	521,000	0
Exercise of common stock warrants	$ 0	$ 0	3,564	0	0	0	0	3,564
Preferred stock dividends			(11,529)		4,468	4,261	2,761	(11,529)
Net income	$ 0	$ 0	0	(22,349)	0	0	0	(22,349)
Balance (in shares) at Jun. 30, 2022	127,254,000	742,000
Balance at Jun. 30, 2022	$ 13	$ (3,067)	213,749	(192,418)	68,259	68,863	52,604	18,277
Balance (in shares) at Mar. 31, 2022	121,554,000	541,000
Balance at Mar. 31, 2022	$ 12	$ (1,779)	183,138	(181,506)	66,016	66,725	51,230	(135)
Share-based compensation			2,886					2,886
Restricted stock vesting (in shares)	762,000
Shares repurchased related to share-based compensation (in shares)	(201,000)	201,000
Shares repurchased related to share-based compensation		$ (1,288)						(1,288)
Issuance of common stock, net (in shares)	4,618,000	0
Issuance of common stock, net	$ 1	$ 0	29,935	0	0	0	0	$ 29,936
Exercise of common stock warrants (in shares)	521,000	0						520,335
Exercise of common stock warrants	$ 0	$ 0	3,564	0	0	0	0	$ 3,564
Preferred stock dividends			(5,774)		2,243	2,138	1,374	(5,774)
Net income	$ 0	$ 0	0	(10,912)	0	0	0	(10,912)
Balance (in shares) at Jun. 30, 2022	127,254,000	742,000
Balance at Jun. 30, 2022	$ 13	$ (3,067)	$ 213,749	$ (192,418)	$ 68,259	$ 68,863	$ 52,604	$ 18,277

Consolidated Statement of Sto_2

Consolidated Statement of Stockholders' Equity and Convertible Preferred Stock (Unaudited) 2 - USD ($) $ in Thousands	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Series A Convertible Preferred Stock [Member]	Series B Convertible Preferred Stock [Member]	Series C Convertible Preferred Stock [Member]	Total
Balance (in shares) at Dec. 31, 2020	117,829,000	249,000
Balance at Dec. 31, 2020	$ 12	$ (1,031)	$ 209,481	$ (148,030)	$ 55,522	$ 56,781	$ 0	$ 60,432
Share-based compensation			(2,146)					(2,146)
Restricted stock vesting (in shares)	305,000
Shares repurchased related to share-based compensation (in shares)	(51,000)	51,000
Shares repurchased related to share-based compensation		$ (140)						(140)
Issuance of common stock, net							33,173
Preferred stock dividends			(7,751)		3,956	3,768	0	(7,751)
Net income	$ 0	$ 0	0	(15,238)	0	0	0	(15,238)
Balance (in shares) at Jun. 30, 2021	118,482,000	300,000
Balance at Jun. 30, 2021	$ 12	$ (1,171)	199,553	(163,268)	59,509	60,549	33,173	35,126
Balance (in shares) at Mar. 31, 2021	118,342,000	269,000
Balance at Mar. 31, 2021	$ 12	$ (1,075)	202,176	(151,688)	57,516	58,665	23,629	49,425
Share-based compensation			1,268					1,268
Restricted stock vesting (in shares)	171,000
Shares repurchased related to share-based compensation (in shares)	(31,000)	31,000
Shares repurchased related to share-based compensation		$ (96)						(96)
Issuance of common stock, net							9,544
Preferred stock dividends			(3,876)		1,978	1,884	0	(3,876)
Net income	$ 0	$ 0	0	(11,580)	0	0	0	(11,580)
Balance (in shares) at Jun. 30, 2021	118,482,000	300,000
Balance at Jun. 30, 2021	$ 12	$ (1,171)	199,553	(163,268)	59,509	60,549	33,173	35,126
Balance (in shares) at Dec. 31, 2021	120,838,000	346,000
Balance at Dec. 31, 2021	$ 12	$ (1,315)	191,264	(170,069)	63,791	64,602	40,007	19,892
Share-based compensation			515					515
Restricted stock vesting (in shares)	1,673,000
Shares repurchased related to share-based compensation (in shares)	(396,000)	396,000
Shares repurchased related to share-based compensation		$ (1,752)						(1,752)
Issuance of common stock, net (in shares)	4,618,000
Issuance of common stock, net	$ 1		29,935				9,836	29,936
Exercise of common stock warrants (in shares)	521,000	0
Exercise of common stock warrants	$ 0	$ 0	3,564	0	0	0	0	3,564
Preferred stock dividends			(11,529)		4,468	4,261	2,761	(11,529)
Net income	$ 0	$ 0	0	(22,349)	0	0	0	(22,349)
Balance (in shares) at Jun. 30, 2022	127,254,000	742,000
Balance at Jun. 30, 2022	$ 13	$ (3,067)	213,749	(192,418)	68,259	68,863	52,604	18,277
Balance (in shares) at Mar. 31, 2022	121,554,000	541,000
Balance at Mar. 31, 2022	$ 12	$ (1,779)	183,138	(181,506)	66,016	66,725	51,230	(135)
Share-based compensation			2,886					2,886
Restricted stock vesting (in shares)	762,000
Shares repurchased related to share-based compensation (in shares)	(201,000)	201,000
Shares repurchased related to share-based compensation		$ (1,288)						(1,288)
Issuance of common stock, net (in shares)	4,618,000	0
Issuance of common stock, net	$ 1	$ 0	29,935	0	0	0	0	$ 29,936
Exercise of common stock warrants (in shares)	521,000	0						520,335
Exercise of common stock warrants	$ 0	$ 0	3,564	0	0	0	0	$ 3,564
Preferred stock dividends			(5,774)		2,243	2,138	1,374	(5,774)
Net income	$ 0	$ 0	0	(10,912)	0	0	0	(10,912)
Balance (in shares) at Jun. 30, 2022	127,254,000	742,000
Balance at Jun. 30, 2022	$ 13	$ (3,067)	$ 213,749	$ (192,418)	$ 68,259	$ 68,863	$ 52,604	$ 18,277

Consolidated Statement of Sto_3

Consolidated Statement of Stockholders' Equity and Convertible Preferred Stock (Unaudited) 3 - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Series A Convertible Preferred Stock [Member]	Series B Convertible Preferred Stock [Member]	Series C Convertible Preferred Stock [Member]	Total
Balance (in shares) at Dec. 31, 2020	117,829	249
Balance at Dec. 31, 2020	$ 12	$ (1,031)	$ 209,481	$ (148,030)	$ 55,522	$ 56,781	$ 0	$ 60,432
Share-based compensation			(2,146)					(2,146)
Restricted stock vesting (in shares)	305
Shares repurchased related to share-based compensation (in shares)	(51)	51
Shares repurchased related to share-based compensation		$ (140)						(140)
Issuance of common stock, net							33,173
Preferred stock dividends			(7,751)		3,956	3,768	0	(7,751)
Deemed dividends - accretion of beneficial conversion feature	$ 0	0	(31)	0	31	0	0	(31)
Net income	$ 0	$ 0	0	(15,238)	0	0	0	(15,238)
Balance (in shares) at Jun. 30, 2021	118,482	300
Balance at Jun. 30, 2021	$ 12	$ (1,171)	199,553	(163,268)	59,509	60,549	33,173	35,126
Balance (in shares) at Mar. 31, 2021	118,342	269
Balance at Mar. 31, 2021	$ 12	$ (1,075)	202,176	(151,688)	57,516	58,665	23,629	49,425
Share-based compensation			1,268					1,268
Restricted stock vesting (in shares)	171
Shares repurchased related to share-based compensation (in shares)	(31)	31
Shares repurchased related to share-based compensation		$ (96)						(96)
Issuance of common stock, net							9,544
Preferred stock dividends			(3,876)		1,978	1,884	0	(3,876)
Deemed dividends - accretion of beneficial conversion feature	$ 0	0	(15)	0	15	0	0	(15)
Net income	$ 0	$ 0	0	(11,580)	0	0	0	(11,580)
Balance (in shares) at Jun. 30, 2021	118,482	300
Balance at Jun. 30, 2021	$ 12	$ (1,171)	199,553	(163,268)	59,509	60,549	33,173	35,126
Balance (in shares) at Dec. 31, 2021	120,838	346
Balance at Dec. 31, 2021	$ 12	$ (1,315)	191,264	(170,069)	63,791	64,602	40,007	19,892
Share-based compensation			515					515
Restricted stock vesting (in shares)	1,673
Shares repurchased related to share-based compensation (in shares)	(396)	396
Shares repurchased related to share-based compensation		$ (1,752)						(1,752)
Issuance of common stock, net	$ 1		29,935				9,836	29,936
Preferred stock dividends			(11,529)		4,468	4,261	2,761	(11,529)
Net income	$ 0	$ 0	0	(22,349)	0	0	0	(22,349)
Balance (in shares) at Jun. 30, 2022	127,254	742
Balance at Jun. 30, 2022	$ 13	$ (3,067)	213,749	(192,418)	68,259	68,863	52,604	18,277
Balance (in shares) at Mar. 31, 2022	121,554	541
Balance at Mar. 31, 2022	$ 12	$ (1,779)	183,138	(181,506)	66,016	66,725	51,230	(135)
Share-based compensation			2,886					2,886
Restricted stock vesting (in shares)	762
Shares repurchased related to share-based compensation (in shares)	(201)	201
Shares repurchased related to share-based compensation		$ (1,288)						(1,288)
Issuance of common stock, net	$ 1	0	29,935	0	0	0	0	29,936
Preferred stock dividends			(5,774)		2,243	2,138	1,374	(5,774)
Net income	$ 0	$ 0	0	(10,912)	0	0	0	(10,912)
Balance (in shares) at Jun. 30, 2022	127,254	742
Balance at Jun. 30, 2022	$ 13	$ (3,067)	$ 213,749	$ (192,418)	$ 68,259	$ 68,863	$ 52,604	$ 18,277

Consolidated Statement of Sto_4

Consolidated Statement of Stockholders' Equity and Convertible Preferred Stock (Unaudited) 4 - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Series A Convertible Preferred Stock [Member]	Series B Convertible Preferred Stock [Member]	Series C Convertible Preferred Stock [Member]	Total
Balance (in shares) at Dec. 31, 2020	117,829	249
Balance at Dec. 31, 2020	$ 12	$ (1,031)	$ 209,481	$ (148,030)	$ 55,522	$ 56,781	$ 0	$ 60,432
Share-based compensation			(2,146)					(2,146)
Restricted stock vesting (in shares)	305
Shares repurchased related to share-based compensation (in shares)	(51)	51
Shares repurchased related to share-based compensation		$ (140)						(140)
Stock dividend (in shares)	399	0
Issuance of common stock, net							33,173
Preferred stock dividends			(7,751)		3,956	3,768	0	(7,751)
Deemed dividends - accretion of beneficial conversion feature	$ 0	$ 0	(31)	0	31	0	0	(31)
Net income	0	0	0	(15,238)	0	0	0	(15,238)
Balance at Jun. 30, 2021	$ 12	$ (1,171)	199,553	(163,268)	59,509	60,549	33,173	35,126
Balance (in shares) at Mar. 31, 2021	118,342	269
Balance at Mar. 31, 2021	$ 12	$ (1,075)	202,176	(151,688)	57,516	58,665	23,629	49,425
Share-based compensation			1,268					1,268
Restricted stock vesting (in shares)	171
Shares repurchased related to share-based compensation (in shares)	(31)	31
Shares repurchased related to share-based compensation		$ (96)						(96)
Issuance of common stock, net							9,544
Preferred stock dividends			(3,876)		1,978	1,884	0	(3,876)
Deemed dividends - accretion of beneficial conversion feature	$ 0	0	(15)	0	15	0	0	(15)
Net income	0	0	0	(11,580)	0	0	0	(11,580)
Balance at Jun. 30, 2021	$ 12	$ (1,171)	199,553	(163,268)	59,509	60,549	33,173	35,126
Balance (in shares) at Dec. 31, 2021	120,838	346
Balance at Dec. 31, 2021	$ 12	$ (1,315)	191,264	(170,069)	63,791	64,602	40,007	19,892
Share-based compensation			515					515
Restricted stock vesting (in shares)	1,673
Shares repurchased related to share-based compensation (in shares)	(396)	396
Shares repurchased related to share-based compensation		$ (1,752)						(1,752)
Issuance of common stock, net	$ 1		29,935				9,836	29,936
Preferred stock dividends			(11,529)		4,468	4,261	2,761	(11,529)
Net income	0	0	0	(22,349)	0	0	0	(22,349)
Balance at Jun. 30, 2022	$ 13	$ (3,067)	213,749	(192,418)	68,259	68,863	52,604	18,277
Balance (in shares) at Mar. 31, 2022	121,554	541
Balance at Mar. 31, 2022	$ 12	$ (1,779)	183,138	(181,506)	66,016	66,725	51,230	(135)
Share-based compensation			2,886					2,886
Restricted stock vesting (in shares)	762
Shares repurchased related to share-based compensation (in shares)	(201)	201
Shares repurchased related to share-based compensation		$ (1,288)						(1,288)
Issuance of common stock, net	$ 1	0	29,935	0	0	0	0	29,936
Preferred stock dividends			(5,774)		2,243	2,138	1,374	(5,774)
Net income	0	0	0	(10,912)	0	0	0	(10,912)
Balance at Jun. 30, 2022	$ 13	$ (3,067)	$ 213,749	$ (192,418)	$ 68,259	$ 68,863	$ 52,604	$ 18,277

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating activities:
Net loss attributable to NextDecade Corporation	$ (22,349)	$ (15,238)
Adjustment to reconcile net loss to net cash used in operating activities
Depreciation	89	93
Share-based compensation expense (forfeiture)	515	(2,862)
Loss on common stock warrant liabilities	4,418	6,806
Amortization of right-of-use assets	330	281
Amortization of other non-current assets	354	708
Changes in operating assets and liabilities:
Prepaid expenses	(166)	(114)
Accounts payable	432	(9)
Operating lease liabilities	(266)	(307)
Accrued expenses and other liabilities	(832)	2,942
Net cash used in operating activities	(17,475)	(7,700)
Investing activities:
Acquisition of property, plant and equipment	(2,602)	(5,481)
Acquisition of other non-current assets	(3,608)	(3,104)
Net cash used in investing activities	(6,210)	(8,585)
Financing activities:
Proceeds from sale of Series C Convertible Preferred Stock	10,500	34,500
Proceeds from sale of common stock	30,000	0
Equity issuance costs	(76)	(61)
Preferred stock dividends	(39)	(27)
Shares repurchased related to share-based compensation	(1,752)	(140)
Net cash provided by financing activities	38,633	34,272
Net increase in cash and cash equivalents	14,948	17,987
Cash and cash equivalents – beginning of period	25,552	22,608
Cash and cash equivalents – end of period	40,500	40,595
Non-cash investing activities:
Accounts payable for acquisition of property, plant and equipment	777	18
Accrued liabilities for acquisition of property, plant and equipment	1,227	975
Pipeline assets obtained in exchange for other non-current liabilities	0	84
Non-cash financing activities:
Paid-in-kind dividends on Convertible Preferred Stock	11,490	7,724
Accounts payable for equity issuance costs	9	0
Accretion of deemed dividends on Series A Convertible Preferred Stock	$ 0	$ 31

Note 1 - Background and Basis o

Note 1 - Background and Basis of Presentation	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	Note 1 NextDecade Corporation engages in development activities related to the liquefaction and sale of liquefied natural gas (“LNG”) and the capture and storage of CO 2 third Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with Rule 10 01 X. not 10 December 31, 2021 three June 30, 2022 not Certain reclassifications have been made to conform prior period information to the current presentation. The reclassifications did not The Company has incurred operating losses since its inception and management expects operating losses and negative cash flows to continue for the foreseeable future and, as a result, the Company will require additional capital to fund its operations and execute its business plan. As of June 30, 2022, not one not twelve The Company plans to alleviate the going concern issue by obtaining sufficient funding through additional equity, equity-based or debt instruments or any other means and managing certain operating and overhead costs. The Company's ability to raise additional capital in the equity and debt markets, should the Company choose to do so, is dependent on a number of factors, including, but not no These consolidated financial statements have been prepared on a going concern basis and do not may no

Note 2 - Prepaid Expenses and O

Note 2 - Prepaid Expenses and Other Current Assets	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Prepaid Expense and Other Current Assets [Text Block]	Note 2 Prepaid expenses and other current assets consisted of the following (in thousands): June 30, December 31, 2022 2021 Prepaid subscriptions $ 438 $ 85 Prepaid insurance 41 272 Prepaid marketing and sponsorships 60 60 Other 462 418 Total prepaid expenses and other current assets $ 1,001 $ 835

Note 3 - Sale of Equity Interes

Note 3 - Sale of Equity Interests in Rio Bravo	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Equity Method Investments and Joint Ventures Disclosure [Text Block]	Note 3 On March 2, 2020, February 13, 2020, five Pursuant to the RBPL Precedent Agreement, Rio Bravo agreed to provide Rio Grande Gas Supply with firm natural gas transportation services on the Pipeline in a quantity sufficient to match the full operational capacity of each proposed liquefaction train of the Terminal. Rio Bravo’s obligation to construct, install, own, operate and maintain the Pipeline is conditioned on its receipt, no December 31, 2023, twenty Pursuant to the VCP Precedent Agreement, VCP agreed to provide Rio Grande Gas Supply with natural gas transportation services on the Valley Crossing Pipeline in a quantity sufficient to match the commissioning requirements of each proposed liquefaction train of the Terminal. VCP’s obligation to construct, install, own, operate and maintain the necessary interconnection to the Terminal and the Pipeline is conditioned on its receipt, no December 31, 2023, If Rio Grande or its affiliate fails to issue a full notice to proceed to the EPC Contractor on or prior to December 31, 2023, not not June 30, 2022

Note 4 - Property, Plant and Eq

Note 4 - Property, Plant and Equipment	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	Note 4 Property, plant and equipment consisted of the following (in thousands): June 30, December 31, 2022 2021 Fixed Assets Computers $ 633 $ 633 Furniture, fixtures, and equipment 549 464 Leasehold improvements 101 101 Total fixed assets 1,283 1,198 Less: accumulated depreciation (933 ) (844 ) Total fixed assets, net 350 354 Project Assets (not placed in service) Terminal 156,053 152,445 Pipeline 21,017 21,017 Total Terminal and Pipeline assets 177,070 173,462 Total property, plant and equipment, net $ 177,420 $ 173,816 Depreciation expense was $42 thousand and $45 thousand for the three June 30, 2022 2021 six June 30, 2022 2021

Note 5 - Leases

Note 5 - Leases	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	Note 5 Our leased assets primarily consist of office space. Operating lease right-of-use assets are as follows (in thousands): June 30, December 31, 2022 2021 Office leases $ 1,257 $ 590 Total operating lease right-of-use assets, net $ 1,257 $ 590 Operating lease liabilities are as follows (in thousands): June 30, December 31, 2022 2021 Office leases $ 963 $ 596 Total current lease liabilities 963 596 Non-current office leases 364 — Total lease liabilities $ 1,327 $ 596 Operating lease expense is as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Office leases $ 221 $ 164 $ 378 $ 314 Total operating lease expense 221 164 378 314 Short-term lease expense 69 70 131 124 Total lease expense $ 290 $ 234 $ 509 $ 438 Maturity of operating lease liabilities as of June 30, 2022 2022 (remaining) $ 507 2023 1,027 2024 — 2025 — 2026 — Thereafter — Total undiscounted lease payments 1,534 Discount to present value (207 ) Present value of lease liabilities $ 1,327 Weighted average remaining lease term - years 1.5 Weighted average discount rate - percent 12.0 Other information related to our operating leases is as follows (in thousands): Six Months Ended June 30, 2022 2021 Cash paid for amounts included in the measurement of operating lease liabilities: Cash flows from operating activities $ 288 $ 452 Noncash right-of-use assets recorded for operating lease liabilities: In exchange for new operating lease liabilities during the period 1,332 712

Note 6 - Other Non-current Asse

Note 6 - Other Non-current Assets	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Other Assets Disclosure [Text Block]	Note 6 Other non-current assets consisted of the following (in thousands): June 30, December 31, 2022 2021 Permitting costs (1) $ 8,110 $ 7,644 Enterprise resource planning system, net — 354 Rio Grande Site Lease initial direct costs 16,456 13,314 Total other non-current assets, net $ 24,566 $ 21,312 ( 1 Permitting costs primarily represent costs incurred in connection with permit applications to the United States Army Corps of Engineers and the U.S. Fish and Wildlife Service for mitigation measures for potential impacts to wetlands and habitat that may

Note 7 - Accrued Liabilities an

Note 7 - Accrued Liabilities and Other Current Liabilities	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]	Note 7 Accrued expenses and other current liabilities consisted of the following (in thousands): June 30, December 31, 2022 2021 Employee compensation expense $ 2,759 $ 4,358 Terminal costs 1,227 926 Accrued legal services 485 70 Other accrued liabilities 844 437 Total accrued liabilities and other current liabilities $ 5,315 $ 5,791

Note 8 - Preferred Stock and Co

Note 8 - Preferred Stock and Common Stock Warrants	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
PreferredStockAndWarrants [Text Block]	8 – Preferred Stock and Common Stock Warrants Preferred Stock As of December 31, 2021, In March 2022, “2022 “2022 Net proceeds from the sales of the 2022 2022 2022 Allocation of Proceeds 2022 Series C 2022 Series C Preferred Warrants Stock Gross proceeds $ 10,500 Equity issuance costs (20 ) Net proceeds - Initial Fair Value Allocation $ 10,480 $ 644 $ 9,836 Per balance sheet upon issuance $ 644 $ 9,836 As of June 30, 2022, The Company has the option to convert all, but not ten tenth 10th The shares of Convertible Preferred Stock bear dividends at a rate of 12% per annum, which are cumulative and accrue daily from the respective dates of issuance on the $1,000 stated value. Such dividends are payable quarterly and may six June 30, 2022 2021 July 7, 2022, June 15, 2022. July 15, 2022, Common Stock Warrants The Company has issued warrants exercisable to purchase Company common stock in connection with its issuances of Series A Preferred Stock, Series B Preferred Stock and Series C Preferred Stock (collectively, the “Common Stock Warrants”). The Company revalues the Common Stock Warrants at each balance sheet date and recognized a gain of $1.9 million and a loss of $4.8 million during the three June 30, 2022 2021 six June 30, 2022 2021 3 The assumptions used in the Monte Carlo simulation model to estimate the fair value of the Common Stock Warrants are as follows: June 30, December 31, 2022 2021 Stock price $ 4.44 $ 2.85 Exercise price $ 0.01 $ 0.01 Risk-free rate 2.9 % 0.1 % Volatility 59.0 % 62.6 % Term (years) 2.2 1.6

Note 9 - Shareholders' Equity

Note 9 - Shareholders' Equity	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	9 Common Stock Purchase Agreement On April 6, 2022, April 7, 2022. Common Stock Warrants During the three six June 30, 2022

Note 10 - Net Loss Per Share

Note 10 - Net Loss Per Share	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Earnings Per Share [Text Block]	Note 10 The following table (in thousands, except for loss per share) reconciles basic and diluted weighted average common shares outstanding for each of the six June 30, 2022 2021 Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Weighted average common shares outstanding: Basic 126,314 118,382 123,835 118,322 Dilutive unvested stock, convertible preferred stock, Common Stock Warrants and IPO Warrants — — — — Diluted 126,314 118,382 123,835 118,322 Basic and diluted net loss per share attributable to common stockholders $ (0.13 ) $ (0.13 ) $ (0.27 ) $ (0.19 ) Potentially dilutive securities not Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Unvested stock and stock units (1) 1,981 1,555 1,666 1,034 Convertible preferred stock 41,725 27,129 40,159 16,143 Common Stock Warrants 1,474 2,873 1,463 1,967 IPO Warrants (2) 12,082 12,082 12,082 12,082 Total potentially dilutive common shares 57,262 43,639 55,370 31,226 ( 1 Does not three six June 30, 2022 three six June 30, 2021 not June 30, 2022 2021 ( 2 The IPO Warrants were issued in connection with our initial public offering in 2015 July 24, 2022.

Note 11 - Share-based Compensat

Note 11 - Share-based Compensation	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	Note 11 We have granted shares of Company common stock, restricted Company common stock and restricted stock units to employees, consultants and non-employee directors under our 2017 “2017 Total share-based compensation consisted of the following (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Share-based compensation expense (forfeiture): Equity awards $ 2,886 $ 1,268 $ 515 $ (2,146 ) Liability awards — — — — Total share-based compensation (forfeiture) 2,886 1,268 515 (2,146 ) Capitalized share-based compensation — (401 ) (716 ) Total share-based compensation expense (forfeiture) $ 2,886 $ 867 $ 515 $ (2,862 )

Note 12 - Income Taxes

Note 12 - Income Taxes	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 12 Due to our cumulative loss position, we have established a full valuation allowance against our deferred tax assets at June 30, 2022 December 31, 2021 not three six June 30, 2022 2021

Note 13 - Commitments and Conti

Note 13 - Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 13 Obligation under LNG Sale and Purchase Agreement In March 2019, 20 two million first three In the first 2020, first Other Commitments On March 6, 2019, April 20, 2022, May 6, 2023 ( In connection with the Rio Grande Site Lease Amendment, Rio Grande is committed to pay approximately $1.5 million per quarter to the BND through the earlier of the Effective Date and lease commencement. In the fourth 2021, 2022. Legal Proceedings From time to time the Company may June 30, 2022 not not

Note 14 - Recent Accounting Pro

Note 14 - Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	Note 14 The following table provides a brief description of recent accounting standards that have been adopted by the Company during the reporting period: Standard Description Date of Adoption Effect on our Consolidated Financial Statements or Other Significant Matters ASU 2020 06, Subtopic 470 20 Subtopic 815 40 This standard simplifies the accounting for convertible instruments primarily by eliminating the existing cash conversion and beneficial conversion models within Subtopic 470 20, January 1, 2022 The Company adopted this standard using the modified retrospective approach, which did not

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with Rule 10 01 X. not 10 December 31, 2021 three June 30, 2022 not Certain reclassifications have been made to conform prior period information to the current presentation. The reclassifications did not The Company has incurred operating losses since its inception and management expects operating losses and negative cash flows to continue for the foreseeable future and, as a result, the Company will require additional capital to fund its operations and execute its business plan. As of June 30, 2022, not one not twelve The Company plans to alleviate the going concern issue by obtaining sufficient funding through additional equity, equity-based or debt instruments or any other means and managing certain operating and overhead costs. The Company's ability to raise additional capital in the equity and debt markets, should the Company choose to do so, is dependent on a number of factors, including, but not no These consolidated financial statements have been prepared on a going concern basis and do not may no

Note 2 - Prepaid Expenses and_2

Note 2 - Prepaid Expenses and Other Current Assets (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Prepaid Expense and Other Current Assets [Table Text Block]	June 30, December 31, 2022 2021 Prepaid subscriptions $ 438 $ 85 Prepaid insurance 41 272 Prepaid marketing and sponsorships 60 60 Other 462 418 Total prepaid expenses and other current assets $ 1,001 $ 835

Note 4 - Property, Plant and _2

Note 4 - Property, Plant and Equipment (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Property, Plant and Equipment [Table Text Block]	June 30, December 31, 2022 2021 Fixed Assets Computers $ 633 $ 633 Furniture, fixtures, and equipment 549 464 Leasehold improvements 101 101 Total fixed assets 1,283 1,198 Less: accumulated depreciation (933 ) (844 ) Total fixed assets, net 350 354 Project Assets (not placed in service) Terminal 156,053 152,445 Pipeline 21,017 21,017 Total Terminal and Pipeline assets 177,070 173,462 Total property, plant and equipment, net $ 177,420 $ 173,816

Note 5 - Leases (Tables)

Note 5 - Leases (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Lessee, Operating Lease Right-of-use Assets and Liabilities [Table Text Block]	June 30, December 31, 2022 2021 Office leases $ 1,257 $ 590 Total operating lease right-of-use assets, net $ 1,257 $ 590 June 30, December 31, 2022 2021 Office leases $ 963 $ 596 Total current lease liabilities 963 596 Non-current office leases 364 — Total lease liabilities $ 1,327 $ 596
Lease, Cost [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Office leases $ 221 $ 164 $ 378 $ 314 Total operating lease expense 221 164 378 314 Short-term lease expense 69 70 131 124 Total lease expense $ 290 $ 234 $ 509 $ 438 Six Months Ended June 30, 2022 2021 Cash paid for amounts included in the measurement of operating lease liabilities: Cash flows from operating activities $ 288 $ 452 Noncash right-of-use assets recorded for operating lease liabilities: In exchange for new operating lease liabilities during the period 1,332 712
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	2022 (remaining) $ 507 2023 1,027 2024 — 2025 — 2026 — Thereafter — Total undiscounted lease payments 1,534 Discount to present value (207 ) Present value of lease liabilities $ 1,327 Weighted average remaining lease term - years 1.5 Weighted average discount rate - percent 12.0

Note 6 - Other Non-current As_2

Note 6 - Other Non-current Assets (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Other Assets, Noncurrent [Table Text Block]	June 30, December 31, 2022 2021 Permitting costs (1) $ 8,110 $ 7,644 Enterprise resource planning system, net — 354 Rio Grande Site Lease initial direct costs 16,456 13,314 Total other non-current assets, net $ 24,566 $ 21,312

Note 7 - Accrued Liabilities _2

Note 7 - Accrued Liabilities and Other Current Liabilities (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Accrued Expenses and Other Current Liabilities [Table Text Block]	June 30, December 31, 2022 2021 Employee compensation expense $ 2,759 $ 4,358 Terminal costs 1,227 926 Accrued legal services 485 70 Other accrued liabilities 844 437 Total accrued liabilities and other current liabilities $ 5,315 $ 5,791

Note 8 - Preferred Stock and _2

Note 8 - Preferred Stock and Common Stock Warrants (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Allocation of Net Cash Proceeds [Table Text Block]	Allocation of Proceeds 2022 Series C 2022 Series C Preferred Warrants Stock Gross proceeds $ 10,500 Equity issuance costs (20 ) Net proceeds - Initial Fair Value Allocation $ 10,480 $ 644 $ 9,836 Per balance sheet upon issuance $ 644 $ 9,836
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]	June 30, December 31, 2022 2021 Stock price $ 4.44 $ 2.85 Exercise price $ 0.01 $ 0.01 Risk-free rate 2.9 % 0.1 % Volatility 59.0 % 62.6 % Term (years) 2.2 1.6

Note 10 - Net Loss Per Share (T

Note 10 - Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Weighted average common shares outstanding: Basic 126,314 118,382 123,835 118,322 Dilutive unvested stock, convertible preferred stock, Common Stock Warrants and IPO Warrants — — — — Diluted 126,314 118,382 123,835 118,322 Basic and diluted net loss per share attributable to common stockholders $ (0.13 ) $ (0.13 ) $ (0.27 ) $ (0.19 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Unvested stock and stock units (1) 1,981 1,555 1,666 1,034 Convertible preferred stock 41,725 27,129 40,159 16,143 Common Stock Warrants 1,474 2,873 1,463 1,967 IPO Warrants (2) 12,082 12,082 12,082 12,082 Total potentially dilutive common shares 57,262 43,639 55,370 31,226

Note 11 - Share-based Compens_2

Note 11 - Share-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award [Table Text Block]	Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Share-based compensation expense (forfeiture): Equity awards $ 2,886 $ 1,268 $ 515 $ (2,146 ) Liability awards — — — — Total share-based compensation (forfeiture) 2,886 1,268 515 (2,146 ) Capitalized share-based compensation — (401 ) (716 ) Total share-based compensation expense (forfeiture) $ 2,886 $ 867 $ 515 $ (2,862 )

Note 1 - Background and Basis_2

Note 1 - Background and Basis of Presentation (Details Textual) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Ending Balance	$ 40,500	$ 25,552	$ 40,595	$ 22,608

Note 2 - Prepaid Expenses and_3

Note 2 - Prepaid Expenses and Other Current Assets - Summary of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Prepaid subscriptions	$ 438	$ 85
Prepaid insurance	41	272
Prepaid marketing and sponsorships	60	60
Other	462	418
Total prepaid expenses and other current assets	$ 1,001	$ 835

Note 3 - Sale of Equity Inter_2

Note 3 - Sale of Equity Interests in Rio Bravo (Details Textual) - Rio Bravo [Member] - USD ($) $ in Millions	Mar. 02, 2020	Feb. 13, 2020	Jun. 30, 2022
Equity Method Investment, Ownership Percentage		100%
Disposal Group, Including Discontinued Operation, Consideration	$ 19.4
Proceeds from Divestiture of Businesses	$ 15
Equity Method Investments, Rights to The Natural Gas Firm Transportation Capacity Term (Year)		20 years
Sale of Business, Failure to Issue Notice, Maximum Right Price to Sell Back Equity Interests			$ 23

Note 4 - Property, Plant and _3

Note 4 - Property, Plant and Equipment (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Depreciation, Total	$ 42	$ 45	$ 89	$ 93

Note 4 - Property, Plant and _4

Note 4 - Property, Plant and Equipment - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Property, plant and equipment, net	$ 177,420	$ 173,816
Computer Equipment [Member]
Property, plant and equipment, gross	633	633
Furniture and Fixtures [Member]
Property, plant and equipment, gross	549	464
Leasehold Improvements [Member]
Property, plant and equipment, gross	101	101
Excluding Construction in Progress [Member]
Property, plant and equipment, gross	1,283	1,198
Less: accumulated depreciation	(933)	(844)
Property, plant and equipment, net	350	354
Construction in Progress [Member]
Property, plant and equipment, gross	177,070	173,462
Construction in Progress [Member] | Rio Grande [Member]
Property, plant and equipment, gross	156,053	152,445
Construction in Progress [Member] | Rio Bravo [Member]
Property, plant and equipment, gross	$ 21,017	$ 21,017

Note 5 - Leases - Supplemental

Note 5 - Leases - Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Operating lease right-of-use assets, net	$ 1,257	$ 590
Current lease liabilities	963	596
Non-current leases	364	0
Lease liabilities	1,327	596
Office Leases [Member]
Operating lease right-of-use assets, net	1,257	590
Current lease liabilities	963	596
Non-current leases	$ 364	$ 0

Note 5 - Leases - Lease Expense

Note 5 - Leases - Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Operating lease expense	$ 221	$ 164	$ 378	$ 314
Short-term lease expense	69	70	131	124
Total lease expense	290	234	509	438
Cash flows from operating activities			288	452
In exchange for new operating lease liabilities during the period			1,332	712
Office Leases [Member]
Operating lease expense	$ 221	$ 164	$ 378	$ 314

Note 5 - Leases - Maturity of O

Note 5 - Leases - Maturity of Operating Lease (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
2022 (remaining)	$ 507
2023	1,027
2024	0
2025	0
2026	0
Thereafter	0
Total undiscounted lease payments	1,534
Discount to present value	(207)
Present value of lease liabilities	$ 1,327	$ 596
Weighted average remaining lease term - years (Year)	1 year 6 months
Weighted average discount rate - percent	12%

Note 6 - Other Non-current As_3

Note 6 - Other Non-current Assets - Schedule of Other Non-current Assets (Details) - USD ($) $ in Thousands		Jun. 30, 2022	Dec. 31, 2021
Permitting costs	[1]	$ 8,110	$ 7,644
Enterprise resource planning system, net		0	354
Rio Grande Site Lease initial direct costs		16,456	13,314
Total other non-current assets, net		$ 24,566	$ 21,312
[1]Permitting costs primarily represent costs incurred in connection with permit applications to the United States Army Corps of Engineers and the U.S. Fish and Wildlife Service for mitigation measures for potential impacts to wetlands and habitat that may be caused by the construction of the Terminal and the Pipeline.

Note 7 - Accrued Liabilities _3

Note 7 - Accrued Liabilities and Other Current Liabilities - Summary of Accrued Liabilities and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Employee compensation expense	$ 2,759	$ 4,358
Terminal costs	1,227	926
Accrued legal services	485	70
Other accrued liabilities	844	437
Total accrued liabilities and other current liabilities	$ 5,315	$ 5,791

Note 8 - Preferred Stock and _3

Note 8 - Preferred Stock and Common Stock Warrants (Details Textual) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions		1 Months Ended	3 Months Ended		6 Months Ended
	Jul. 15, 2022	Mar. 31, 2022	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Common Stock Warrants [Member]
Fair Value Adjustment of Warrants			$ 1.9	$ (4.8)	$ (4.4)	$ (6.8)
Series A Convertible Preferred Stock [Member]
Temporary Equity, Shares Outstanding (in shares)			78,181		78,181		73,713
Temporary Equity, Par or Stated Value Per Share (in dollars per share)							$ 0.0001
Preferred Stock, Convertible, Conversion Price (in dollars per share)			$ 6.14		$ 6.14
Series B Convertible Preferred Stock [Member]
Temporary Equity, Shares Outstanding (in shares)			74,694		74,694		70,433
Temporary Equity, Par or Stated Value Per Share (in dollars per share)							$ 0.0001
Preferred Stock, Convertible, Conversion Price (in dollars per share)			$ 6.19		$ 6.19
Series C Convertible Preferred Stock [Member]
Temporary Equity, Shares Outstanding (in shares)			55,961		55,961		42,490
Temporary Equity, Par or Stated Value Per Share (in dollars per share)							$ 0.0001
Temporary Equity, Stock Issued During Period, Shares, New Issues (in shares)		10,500
Temporary Equity, Issued Price Per Share (in dollars per share)		$ 1,000
Temporary Equity, Stock Issued During Period, Value, New Issues		$ 10.5
Temporary Equity, Stock Issued During Period, Shares Issued for Services (in shares)		210
Preferred Stock, Convertible, Conversion Price (in dollars per share)			$ 3.27		$ 3.27
Convertible Preferred Stock [Member]
Temporary Equity, Issued Price Per Share (in dollars per share)			$ 1,000		$ 1,000
Temporary Stock, Threshold Trading Days for Conversion (Day)					60 days
Temporary Stock, Threshold Consecutive Trading Days for Conversion (Day)					90 days
Temporary Stock, Conversion Price Minimum Percentage					175%
Temporary Stock, Maximum Business Days Following FID Event for Conversion (Day)					10 days
Temporary Equity, Dividend Rate Percentage					12%
Dividends, Preferred Stock, Paid-in-kind					$ 11.5	$ 7.7
Convertible Preferred Stock [Member] | Subsequent Event [Member]
Dividends, Preferred Stock, Paid-in-kind	$ 6.2

Note 8 - Preferred Stock and _4

Note 8 - Preferred Stock and Common Stock Warrants - Allocation of Net Cash Proceeds (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022 USD ($)
Gross proceeds	$ 10,500
Equity issuance costs	(20)
Net proceeds - Initial Fair Value Allocation	10,480
Series C Warrants [Member]
Net proceeds - Initial Fair Value Allocation	644
Per balance sheet upon issuance	644
Series C Preferred Stock Associated Warrants [Member]
Net proceeds - Initial Fair Value Allocation	9,836
Per balance sheet upon issuance	$ 9,836

Note 8 - Preferred Stock and _5

Note 8 - Preferred Stock and Common Stock Warrants - Fair Value Assumptions (Details)	Jun. 30, 2022	Dec. 31, 2021
Measurement Input, Share Price [Member]
Warrant measurement input	4.44	2.85
Measurement Input, Exercise Price [Member]
Warrant measurement input	0.01	0.01
Measurement Input, Risk Free Interest Rate [Member]
Warrant measurement input	0.029	0.001
Measurement Input, Price Volatility [Member]
Warrant measurement input	0.590	0.626
Measurement Input, Expected Term [Member]
Warrant measurement input	2.2	1.6

Note 9 - Shareholders' Equity (

Note 9 - Shareholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended	6 Months Ended
	Apr. 06, 2022	Jun. 30, 2022	Jun. 30, 2022	Jun. 30, 2021
Proceeds from Issuance of Common Stock			$ 30,000	$ 0
Stock Issued During Period, Exercise Of Warrants, Shares (in shares)		520,335
HGC NEXT INV LLC [Member]
Stock Issued During Period, Shares, New Issues (in shares)	4,618,226
Share Price (in dollars per share)	$ 6.496
Proceeds from Issuance of Common Stock	$ 30,000

Note 10 - Net Loss Per Share (D

Note 10 - Net Loss Per Share (Details Textual) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Securities Excluded from Computation of Earnings Per Share Amount, Performance Conditions (in shares)	6.2	2.6	6.2	2.6

Note 10 - Net Loss Per Share -

Note 10 - Net Loss Per Share - Basic and Diluted Common Shares (Details) - $ / shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Weighted average shares outstanding - basic and diluted (in shares)	126,314	118,382	123,835	118,322
Dilutive unvested stock, convertible preferred stock, Common Stock Warrants and IPO Warrants (in shares)	0	0	0	0
Diluted (in shares)	126,314	118,382	123,835	118,322
Net loss per common share - basic and diluted (in dollars per share)	$ (0.13)	$ (0.13)	$ (0.27)	$ (0.19)

Note 10 - Net Loss Per Share _2

Note 10 - Net Loss Per Share - Anti-dilutive Securities (Details) - shares shares in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Potentially dilutive common shares (in shares)		57,262	43,639	55,370	31,226
Unvested Stock [Member]
Potentially dilutive common shares (in shares)		1,981	1,555	1,666	1,034
Convertible Preferred Stocks [Member]
Potentially dilutive common shares (in shares)		41,725	27,129	40,159	16,143
Common Stock Warrants [Member]
Potentially dilutive common shares (in shares)		1,474	2,873	1,463	1,967
IPO Warrants [Member]
Potentially dilutive common shares (in shares)	[1]	12,082	12,082	12,082	12,082
[1]The IPO Warrants were issued in connection with our initial public offering in 2015. The IPO Warrants are exercisable at a price of $11.50 per share and expire on July 24, 2022. The Company may redeem the IPO Warrants at a price of $0.01 per IPO Warrant upon 30 days’ notice only if the last sale price of our common stock is at least $17.50 per share for any 20 trading days within a 30 trading day period. If the Company redeems the IPO Warrants in this manner, the Company will have the option to do so on a cashless basis with the issuance of an economically equivalent number of shares of Company common stock.

Note 11 - Share-based Compens_3

Note 11 - Share-based Compensation - Summary of Share-based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Equity awards	$ (2,886)	$ (1,268)	$ (515)	$ 2,146
Liability awards	0	0	0	0
Total share-based compensation (forfeiture)	2,886	1,268	515	(2,146)
Capitalized share-based compensation	0	(401)		(716)
Total share-based compensation expense (forfeiture)	$ 2,886	$ 867	$ 515	$ (2,862)

Note 12 - Income Taxes (Details

Note 12 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Tax Expense (Benefit), Total	$ 0	$ 0	$ 0	$ 0

Note 13 - Commitments and Con_2

Note 13 - Commitments and Contingencies (Details Textual) - BND [Member] $ in Millions	Apr. 30, 2020 USD ($)	Dec. 31, 2021 USD ($)	Mar. 06, 2019 a
Area Available for Lease (Acre) | a			984
Lessee, Operating Lease, Liability, to be Paid Per Quarter	$ 1.5
Wetland Mitigation Measures [Member]
Other Commitment, to be Paid, Year One		$ 0.5