Home / Going-concern warnings / NextDecade Corp
Filed 2026-03-02 路 Form 10-K 路 Accession 0001612720-26-000009 small
Price before filing: $5.39 (2026-02-27 close, split/dividend-adjusted)
Market cap at flag: $1.49B (2026-03-02) 路 Latest: $1.66B (2026-10-16)
| Window | NEXT | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | +36.2% | -4.2% | +40.4% | 2026-04-01 |
| 90 days | +53.6% | +10.9% | +42.7% | 2026-06-01 |
| 180 days | +39.9% | +12.4% | +27.5% | 2026-08-31 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 1 insider bought $20.9M (9 purchases)
30 days after: 1 insider bought $506K (1 purchase)
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2025-12-02 | Hanwha Aerospace Co., Ltd. 10% owner | Purchase | 310,964 | $5.93 | $1.8M | no | Form 4 |
| 2025-12-03 | Hanwha Aerospace Co., Ltd. 10% owner | Purchase | 241,946 | $6.04 | $1.5M | no | Form 4 |
| 2025-12-04 | Hanwha Aerospace Co., Ltd. 10% owner | Purchase | 243,959 | $6.19 | $1.5M | no | Form 4 |
| 2025-12-05 | Hanwha Aerospace Co., Ltd. 10% owner | Purchase | 151,058 | $6.21 | $939K | no | Form 4 |
| 2025-12-08 | Hanwha Aerospace Co., Ltd. 10% owner | Purchase | 39,467 | $6.26 | $247K | no | Form 4 |
| 2025-12-09 | Hanwha Aerospace Co., Ltd. 10% owner | Purchase | 293,131 | $6.36 | $1.9M | no | Form 4 |
| 2025-12-10 | Hanwha Aerospace Co., Ltd. 10% owner | Purchase | 600,000 | $6.05 | $3.6M | no | Form 4 |
| 2025-12-11 | Hanwha Aerospace Co., Ltd. 10% owner | Purchase | 851,971 | $5.83 | $5.0M | no | Form 4 |
| 2025-12-12 | Hanwha Aerospace Co., Ltd. 10% owner | Purchase | 800,000 | $5.54 | $4.4M | no | Form 4 |
| 2026-03-02: red flag filed | |||||||
| 2026-03-23 | Beall Pamela K.M. Director | Purchase | 71,500 | $7.07 | $506K | no | Form 4 |
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-12-02 to 2026-04-01. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"These conditions, along with other matters as set forth in Note 1 of the 2023 consolidated financial statements, raise substantial doubt about the Company's ability to continue as a going concern."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Source: management disclosure in Form 10-K (period 2025-12-31)
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
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