FRVO: the balance sheet

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Fervo Energy Co (FRVO)

Balance Sheets	2026-03-31
Cash and cash equivalents	280,776
Grant receivables	16,755
Prepaid expenses and other	10,338
Total current assets	307,869
Deposits	15,242
Construction-in-process	972,040
Operating leases right of use assets	91,112
Restricted cash	6,000
Other long-term assets	35,244
Total assets	1,427,507

Accounts payable	8,043
Accrued capital expenditures	147,610
Operating lease liabilities	25,335
Other current liabilities	20,932
Total current liabilities	201,920
Long-term debt, net of issuance costs	186,636
Operating lease liabilities	86,349
Other long-term liabilities	24,673
Total liabilities	499,578
Redeemable convertible preferred stock, par value 0.0001 per share 283,546 and 283,546 authorized 279,995 and 279,995 issued and outstanding as of march 31, 2026 and december 31, 2025, respectively	1,022,886
Redeemable noncontrolling interest-CPIHold Co Class AUnits	103,843
Redeemable noncontrolling interest-CPIIntermediate Class AUnits	79,521
Common stock, par value 0.0001 per share 358,279 and 358,279 authorized 9,873 and 9,457 issued and outstanding as of march 31, 2026 and december 31, 2025, respectively	1
Additional paid-in capital	0
Treasury stock, at cost 270 and 270 shares as of march 31, 2026 and december 31, 2025, respectively	1,960
Accumulated deficit	-276,362
Total stockholders deficit	-278,321
Total liabilities, redeemable convertible preferred stock, redeemable noncontrolling interests and stockholders deficit	1,427,507

Unit: Thousand (K) dollars (except for numbers of shares and EPS). Numbers labeled with * are estimated quarterly values.