$VGASW

Verde Clean Fuels, Inc.

CIK:0001841425|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
General and administrative expenses	$ 2,359	$ 3,094	$ 5,032	$ 6,092
Research and development expenses	165	145	346	329
Total operating loss	2,524	3,239	5,378	6,421
Other (income)	(478)	(665)	(985)	(1,196)
Loss before income taxes	(2,046)	(2,574)	(4,393)	(5,225)
Income tax expense (benefit)	(106)	(28)	(60)	25
Net loss	(1,940)	(2,546)	(4,333)	(5,250)
Net loss attributable to noncontrolling interest	(1,033)	(1,286)	(2,219)	(2,743)
Net loss attributable to Verde Clean Fuels, Inc.	$ (907)	$ (1,260)	$ (2,114)	$ (2,507)
Earnings per share
Weighted average Class A common stock outstanding, basic (in shares)	22,070,453	18,836,078	22,070,453	16,833,316
Weighted average Class A common stock outstanding, diluted (in shares)	22,070,453	18,836,078	22,070,453	16,833,316
Loss per share of Class A common stock, Basic (in dollars per share)	$ (0.04)	$ (0.07)	$ (0.10)	$ (0.15)
Loss per Share of Class A common stock, Diluted (in dollars per share)	$ (0.04)	$ (0.07)	$ (0.10)	$ (0.15)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (4,333)	$ (5,250)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation	8	8
Share-based compensation expense	1,083	912
Amortization of right-of-use assets	199	173
Other non-cash expense	1	0
Changes in operating assets and liabilities
Accounts receivable - other	4	0
Prepaid expenses	(324)	(5)
Accounts payable	(92)	(440)
Accrued liabilities	245	(1,147)
Operating lease liabilities	(192)	(167)
Other changes in operating assets and liabilities	(42)	33
Net cash used in operating activities	(3,443)	(5,883)
Cash flows from investing activities:
Additions to property, plant and equipment	(459)	(2,020)
Reimbursements of development costs in accordance with the JDA	141	1,468
Net cash used in investing activities	(318)	(552)
Cash flows from financing activities:
Issuance of Class A common stock to Cottonmouth	0	50,000
Payment of equity issuance costs	0	(554)
Net cash provided by financing activities	0	49,446
Net change in cash, cash equivalents and restricted cash	(3,761)	43,011
Cash, cash equivalents and restricted cash, beginning of year	57,315	19,144
Cash, cash equivalents and restricted cash, end of period	53,554	62,155
Supplemental cash flows:
Capital expenditures in accounts payable and accrued liabilities (at period end)	0	1,467
Accounts receivable for reimbursement of capital expenditures (at period end)	$ 0	$ 1,006

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 53,454	$ 57,215
Restricted cash	100	100
Accounts receivable – other	0	145
Prepaid expenses and other current assets	790	466
Total current assets	54,344	57,926
Non-current assets:
Property, plant and equipment, net	53	62
Intellectual property and patented technology	1,925	1,925
Operating lease right-of-use assets, net	339	173
Deposits	161	161
Total non-current assets	2,478	2,321
Total assets	56,822	60,247
Current liabilities:
Accounts payable	443	985
Accrued liabilities	1,141	906
Operating lease liabilities	359	174
Other current liabilities	134	35
Total current liabilities	2,077	2,100
Non-current liabilities:
Operating lease liabilities	0	12
Total non-current liabilities	0	12
Total liabilities	2,077	2,112
Commitments and contingencies (see Note 8)
Stockholders’ equity
Additional paid in capital	65,153	64,070
Accumulated deficit	(36,329)	(34,215)
Noncontrolling interest	25,917	28,276
Total stockholders’ equity	54,745	58,135
Total liabilities and stockholders’ equity	56,822	60,247
Class A Common Stock
Stockholders’ equity
Common stock value	2	2
Class C Common Stock
Stockholders’ equity
Common stock value	$ 2	$ 2