FRVO 8-K

Fervo Energy Co (FRVO)

8-K 2026-06-22 For: 2026-06-22

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Added on June 23, 2026

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Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.0001 per share	FRVO	The Nasdaq Stock Market LLC
		(NASDAQ Global Select Market)


Exhibit Number						Description
99.1						Press Release of the Company, dated June 22, 2026.
104						Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101).


(Dollars and shares in thousands except per share amounts)	Three months ended March 31,
(Dollars and shares in thousands except per share amounts)	2026	2025
Revenues ...................................................................................................................	$61	$—
Costs and expenses:
Operation and maintenance ....................................................................................	482	252
Research and development income, net ..................................................................	(72)	(36)
General and administrative expense ........................................................................	16,990	7,679
Operating lease expense ..........................................................................................	2,620	1,989
Depreciation and amortization ................................................................................	93	47
Operating loss ......................................................................................................	(20,052)	(9,931)
Other income (expense):
Interest income .......................................................................................................	2,815	2,028
Interest expense ......................................................................................................	(2,717)	(1,227)
Other non-operating expense, net ............................................................................	(11,876)	(16)
Loss before income taxes ..........................................................................................	(31,830)	(9,146)
Net loss .....................................................................................................................	$(31,830)	$(9,146)

Net loss per share information:
Net loss ...................................................................................................................	$(31,830)	$(9,146)
Less: Remeasurement of redeemable noncontrolling interest .................................	(3,434)	—
Net loss attributable to common shares, basic and diluted ....................................	(35,264)	(9,146)
Weighted average shares, basic and diluted (1) ...................................................	9,467	8,961
Net loss per share attributable to common stockholders, basic and diluted (1) ...	$(3.72)	$(1.02)


(Dollars and shares in thousands)	As of March 31,	As of December 31,
(Dollars and shares in thousands)	2026	2025
ASSETS
Current assets:
Cash and cash equivalents .....................................................................................	$280,776	$461,836
Grant receivables ...................................................................................................	16,755	10,580
Prepaid expenses and other ...................................................................................	10,338	9,714
Total current assets ..........................................................................................	307,869	482,130
Deposits .................................................................................................................	15,242	15,234
Construction-in-process ........................................................................................	972,040	789,571
Operating leases right of use assets .......................................................................	91,112	58,713
Restricted cash ......................................................................................................	6,000	6,000
Other long-term assets ...........................................................................................	35,244	13,520
Total assets .......................................................................................................	$1,427,507	$1,365,168
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable ...................................................................................................	$8,043	$10,789
Accrued capital expenditures ....................................................................................	147,610	119,303
Operating lease liabilities ........................................................................................	25,335	4,822
Other current liabilities ............................................................................................	20,932	16,997
Total current liabilities .......................................................................................	201,920	151,911
Long-term debt, net of issuance costs ......................................................................	186,636	172,837
Operating lease liabilities ........................................................................................	86,349	72,639
Other long-term liabilities .......................................................................................	24,673	11,407
Total liabilities .................................................................................................	499,578	408,794
Commitments and Contingencies (Note 16) ............................................................

Redeemable convertible preferred stock
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	1,022,942
Redeemable noncontrolling interest
Cape Phase I HoldCo - Redeemable noncontrolling interest	103,843	102,586
Cape Phase I Intermediate HoldCo - Redeemable noncontrolling interest	79,521	77,344
Stockholders’ deficit:
Common stock, par value $0.0001 per share; 358,279 and 358,279 authorized; 9,873 and 9,457 issued as of March 31, 2026 and December 31, 2025, respectively(1)	1	1
Additional paid-in capital	—	—
Treasury stock, at cost; 270 and 270 shares as of March 31, 2026 and December 31, 2025, respectively (1) ..................................................................	(1,960)	(1,960)
Accumulated deficit ..............................................................................................	(276,362)	(244,539)
Total stockholders’ deficit ..................................................................................	(278,321)	(246,498)
Total liabilities, redeemable convertible preferred stock, redeemable noncontrolling interests and stockholders’ deficit ..............................................	$1,427,507	$1,365,168