0001437749-23-013939 | 10-Q | XBRL Viewer

Property, Plant and Equipment [Table Text Block]

	*March 31,*			*December 31,*
	*2023*			*2022*
Fixed Assets
Computers	$	778		$	780
Furniture, fixtures, and equipment		610			610
Leasehold improvements		101			101
Total fixed assets		1,489			1,491
Less: accumulated depreciation		(1,044	)		(1,006	)
Total fixed assets, net		445			485
Project Assets (not placed in service)
Terminal		222,408			197,144
Pipeline		21,017			21,017
Total Terminal and Pipeline assets		243,425			218,161
Total property, plant and equipment, net	$	243,870		$	218,646

Note 5 - Leases (Tables)

3 Months Ended

Mar. 31, 2023

Lessee, Operating Lease Right-of-use Assets and Liabilities [Table Text Block]

	*March 31,*		*December 31,*
	*2023*		*2022*
Office leases	$	1,216	$	1,474
Total operating lease right-of-use assets, net	$	1,216	$	1,474

	*March 31,*		*December 31,*
	*2023*		*2022*
Office leases	$	873	$	1,093
Total current lease liabilities	$	873	$	1,093
Non-current office leases		395		465
Total lease liabilities	$	1,268	$	1,558

Lease, Cost [Table Text Block]

	*Three Months Ended March 31,*
	*2023*		*2022*
Office leases	$	309	$	157
Total operating lease expense		309		157
Short-term lease expense		28		62
Total lease expense	$	337	$	219

	*Three Months Ended March 31,*
	*2023*		*2022*
Cash paid for amounts included in the measurement of operating lease liabilities:
Cash flows from operating activities		$ 290		$ 173

Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]

2023 (remaining)	$	980
2024		275
2025		252
2026		—
2027		—
Thereafter		—
Total undiscounted lease payments		1,507
Discount to present value		(239	)
Present value of lease liabilities	$	1,268

Weighted average remaining lease term - years		2.0
Weighted average discount rate - percent		12.0

Note 3 - Sale of Equity Interests in Rio Bravo (Details Textual) - Rio Bravo [Member] - USD ($) $ in Millions	Mar. 02, 2020	Feb. 13, 2020	Dec. 31, 2022
Equity Method Investment, Ownership Percentage		100.00%
Disposal Group, Including Discontinued Operation, Consideration	$ 19.4
Proceeds from Divestiture of Businesses	$ 15.0
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			$ 23.0

Note 5 - Leases - Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating lease expense	$ 309	$ 157
Short-term lease expense	28	62
Total lease expense	337	219
Cash flows from operating activities	290	173
Office Leases [Member]
Operating lease expense	$ 309	$ 157

Note 5 - Leases - Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Operating lease right-of-use assets, net	$ 1,216	$ 1,474
Current lease liabilities	873	1,093
Non-current leases	395	465
Lease liabilities	1,268	1,558
Office Leases [Member]
Operating lease right-of-use assets, net	1,216	1,474
Current lease liabilities	873	1,093
Non-current leases	$ 395	$ 465

Note 8 - Preferred Stock and Common Stock Warrants (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

	*March 31,*			*December 31,*
	*2023*			*2022*
Stock price	$	4.97		$	4.94
Exercise price	$	0.01		$	0.01
Risk-free rate		4.1	%		4.6	%
Volatility		48.3	%		52.5	%
Term (years)		1.2			1.5

Note 13 - Commitments and Contingencies (Details Textual) - BND [Member] $ in Millions	Mar. 06, 2019 USD ($) a
Area Available for Lease (Acre) \| a	984
Lessee, Operating Lease, Liability, to be Paid Per Quarter \| $	$ 1.6

Note 2 - Prepaid Expenses and Other Current Assets - Summary of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Prepaid subscriptions	$ 556	$ 423
Prepaid insurance	300	619
Prepaid marketing and sponsorships	246	0
Other	468	107
Total prepaid expenses and other current assets	$ 1,570	$ 1,149

Note 10 - Net Loss Per Share - Basic and Diluted Common Shares (Details) - $ / shares shares in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Weighted average shares outstanding - basic and diluted (in shares)	146,931	121,328
Dilutive unvested stock, convertible preferred stock, Common Stock Warrants and IPO Warrants (in shares)	0	0
Diluted (in shares)	146,931	121,328
Net loss per common share - basic and diluted (in dollars per share)	$ (0.23)	$ (0.14)

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-7

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-10

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 16: http://www.xbrl.org/2003/role/exampleRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 52
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-52

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-7

Note 7 - Accrued Liabilities and Other Current Liabilities - Summary of Accrued Liabilities and Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Employee compensation expense	$ 2,410	$ 6,650
Terminal costs	15,826	12,046
Permitting costs, Current	140	279
Accrued legal services	9,284	3,124
Share-based compensation liability	182	182
Other accrued liabilities	819	903
Total accrued liabilities and other current liabilities	$ 28,661	$ 23,184

Note 13 - Commitments and Contingencies

3 Months Ended

Mar. 31, 2023

Commitments and Contingencies Disclosure [Text Block]

Note 13 — Commitments and Contingencies

Obligation under LNG Sale and Purchase Agreement

In March 2019, we entered into a 20-year sale and purchase agreement (the “SPA”) with Shell NA LNG LLC (“Shell”) for the supply of approximately two million tonnes per annum of liquefied natural gas from the Terminal. Pursuant to the SPA, Shell will purchase LNG on a free-on-board (“FOB”) basis starting from the date the first liquefaction train of the Terminal that is commercially operable, with approximately three-quarters of the purchased LNG volume indexed to Brent and the remaining volume indexed to domestic United States gas indices, including Henry Hub.

In the first quarter of 2020, pursuant to the terms of the SPA, the SPA became effective upon the conditions precedent in the SPA being satisfied or waived. The SPA obligates Rio Grande to deliver the contracted volumes of LNG to Shell at the FOB delivery point, subject to the first liquefaction train at the Terminal being commercially operable.

Other Commitments

On March 6, 2019, Rio Grande entered into a lease agreement (the “Rio Grande Site Lease”) with the Brownsville Navigation District of Cameron County, Texas (“BND”) for the lease by Rio Grande of approximately 984 acres of land situated in Brownsville, Cameron County, Texas for the purposes of constructing, operating, and maintaining (i) a liquefied natural gas facility and export terminal and (ii) gas treatment and gas pipeline facilities. On April 20, 2022, Rio Grande and the BND amended the Rio Grande Site Lease (the “Rio Grande Site Lease Amendment”) to extend the effective date for commencing the Rio Grande Site Lease to May 6, 2023 (the “Effective Date”). The Rio Grande Site Lease Amendment further provides that Rio Grande has the right, exercisable in its sole discretion, to extend the effective date for commencing the Rio Grande Site Lease to May 6, 2024, by providing the BND with written notice of its election no later than May 6, 2023. Rio Grande delivered such written notice on April 24, 2023.

In connection with the Rio Grande Site Lease Amendment, Rio Grande is committed to pay approximately $1.6 million per quarter to the BND through the earlier of the Effective Date and lease commencement.

Legal Proceedings

From time to time the Company may be subject to various claims and legal actions that arise in the ordinary course of business. As of March 31, 2023, management is not aware of any claims or legal actions that, separately or in the aggregate, are likely to have a material adverse effect on the Company’s financial position, results of operations or cash flows, although the Company cannot guarantee that a material adverse effect will not occur.

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 51,141	$ 62,789
Prepaid expenses and other current assets	1,570	1,149
Total current assets	52,711	63,938
Property, plant and equipment, net	243,870	218,646
Operating lease right-of-use assets, net	1,216	1,474
Other non-current assets, net	30,108	28,372
Total assets	327,905	312,430
Current liabilities
Accounts payable	1,854	1,084
Accrued liabilities and other current liabilities	28,661	23,184
Current common stock warrant liabilities	3,504	0
Current operating lease liabilities	873	1,093
Total current liabilities	34,892	25,361
Non-current common stock warrant liabilities	3,653	6,790
Non-current operating lease liabilities	395	465
Other non-current liabilities	23,000	23,000
Total liabilities	61,940	55,616
Commitments and contingencies (Note 13)
Stockholders’ equity
Common stock, $0.0001 par value Authorized: 480.0 million shares at March 31, 2023 and December 31, 2022; Issued and outstanding: 149.4 million shares and 143.5 million shares at March 31, 2023 and December 31, 2022, respectively	15	14
Treasury stock: 999,966 shares and 991,089 shares at March 31, 2023 and December 31, 2022, respectively, at cost	(4,634)	(4,587)
Preferred stock, $0.0001 par value Authorized: 0.5 million, after designation of the Convertible Preferred Stock Issued and outstanding: none at March 31, 2023 and December 31, 2022	0	0
Additional paid-in-capital	318,942	289,084
Accumulated deficit	(257,487)	(230,140)
Total stockholders’ equity	56,836	54,371
Total liabilities, convertible preferred stock and stockholders’ equity	327,905	312,430
Series A Convertible Preferred Stock [Member]
Current liabilities
Convertible Preferred Stock	75,532	73,026
Series B Convertible Preferred Stock [Member]
Current liabilities
Convertible Preferred Stock	75,798	73,408
Series C Convertible Preferred Stock [Member]
Current liabilities
Convertible Preferred Stock	$ 57,799	$ 56,009

Note 11 - Share-based Compensation (Tables)

3 Months Ended

Mar. 31, 2023

Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award [Table Text Block]

	*Three Months Ended*
	*March 31,*
	*2023*		*2022*
Share-based compensation expense (forfeiture):
Equity awards	$	1,559	$	(2,372	)
Liability awards		—		—
Total share-based compensation (forfeiture)		1,559		(2,372	)
Capitalized share-based compensation		—		—
Total share-based compensation expense (forfeiture)	$	1,559	$	(2,372	)

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating activities:
Net loss attributable to NextDecade Corporation	$ (27,347)	$ (11,437)
Adjustment to reconcile net loss to net cash used in operating activities
Depreciation	38	47
Share-based compensation expense (forfeiture)	1,559	(2,372)
Loss on common stock warrant liabilities	367	6,304
Amortization of right-of-use assets	258	140
Amortization of other non-current assets	0	354
Changes in operating assets and liabilities:
Prepaid expenses	(421)	(194)
Accounts payable	815	114
Operating lease liabilities	(290)	(156)
Accrued expenses and other liabilities	1,836	(2,994)
Net cash used in operating activities	(23,185)	(10,194)
Investing activities:
Acquisition of property, plant and equipment	(21,528)	(1,314)
Acquisition of other non-current assets	(1,875)	(1,703)
Net cash used in investing activities	(23,403)	(3,017)
Financing activities:
Proceeds from sale of Series C Convertible Preferred Stock	0	10,500
Proceeds from sale of common stock	35,000	0
Preferred stock dividends	(13)	(19)
Shares repurchased related to share-based compensation	(47)	(464)
Net cash provided by financing activities	34,940	10,017
Net decrease in cash and cash equivalents	(11,648)	(3,194)
Cash and cash equivalents – beginning of period	62,789	25,552
Cash and cash equivalents – end of period	51,141	22,358
Non-cash investing activities:
Accounts payable for acquisition of property, plant and equipment	72	339
Accrued liabilities for acquisition of property, plant and equipment	15,826	839
Accrued liabilities for acquisition of other non-current assets	140	0
Non-cash financing activities:
Paid-in-kind dividends on Convertible Preferred Stock	6,686	5,735
Accounts payable for equity issuance costs	$ 0	$ 50

Note 4 - Property, Plant and Equipment

3 Months Ended

Mar. 31, 2023

Property, Plant and Equipment Disclosure [Text Block]

Note 4 — Property, Plant and Equipment

Property, plant and equipment consisted of the following (in thousands):

	*March 31,*			*December 31,*
	*2023*			*2022*
Fixed Assets
Computers	$	778		$	780
Furniture, fixtures, and equipment		610			610
Leasehold improvements		101			101
Total fixed assets		1,489			1,491
Less: accumulated depreciation		(1,044	)		(1,006	)
Total fixed assets, net		445			485
Project Assets (not placed in service)
Terminal		222,408			197,144
Pipeline		21,017			21,017
Total Terminal and Pipeline assets		243,425			218,161
Total property, plant and equipment, net	$	243,870		$	218,646

Depreciation expense was $38 thousand and $47 thousand for the three months ended March 31, 2023 and 2022, respectively.

Note 8 - Preferred Stock and Common Stock Warrants (Details Textual) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		12 Months Ended
	Apr. 17, 2023	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Gain (Loss) on Revaluation of Warrants		$ (367)	$ (6,304)
Series A Convertible Preferred Stock [Member]
Temporary Equity, Shares Outstanding (in shares)		85,454		82,948
Temporary Equity, Par or Stated Value Per Share (in dollars per share)				$ 0.0001
Preferred Stock, Convertible, Conversion Price (in dollars per share)		$ 5.27
Series B Convertible Preferred Stock [Member]
Temporary Equity, Shares Outstanding (in shares)		81,629		79,239
Temporary Equity, Par or Stated Value Per Share (in dollars per share)				$ 0.0001
Preferred Stock, Convertible, Conversion Price (in dollars per share)		$ 5.32
Series C Convertible Preferred Stock [Member]
Temporary Equity, Shares Outstanding (in shares)		61,156		59,366
Temporary Equity, Par or Stated Value Per Share (in dollars per share)				$ 0.0001
Preferred Stock, Convertible, Conversion Price (in dollars per share)		$ 2.87
Convertible Preferred Stock [Member]
Temporary Equity, Dividend Rate Percentage		12.00%
Temporary Equity, Issued Price Per Share (in dollars per share)		$ 1,000
Dividends, Preferred Stock, Paid-in-kind		$ 6,700	$ 5,700
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				175.00%
Temporary Stock, Maximum Business Days Following FID Event for Conversion (Day)				10 days
Convertible Preferred Stock [Member] \| Subsequent Event [Member]
Dividends, Preferred Stock, Paid-in-kind	$ 6,700
Common Stock Warrants [Member]
Warrants and Rights Outstanding, Term (Year)				3 years

Document And Entity Information - shares	3 Months Ended
Document And Entity Information - shares	Mar. 31, 2023	May 05, 2023
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	Q1
Document Fiscal Year Focus	2022
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
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		150,566,623

Note 11 - Share-based Compensation

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Text Block]

Note 11 — Share-based Compensation

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 Omnibus Incentive Plan, as amended (the “2017 Plan”).

Total share-based compensation consisted of the following (in thousands):

	*Three Months Ended*
	*March 31,*
	*2023*		*2022*
Share-based compensation expense (forfeiture):
Equity awards	$	1,559	$	(2,372	)
Liability awards		—		—
Total share-based compensation (forfeiture)		1,559		(2,372	)
Capitalized share-based compensation		—		—
Total share-based compensation expense (forfeiture)	$	1,559	$	(2,372	)

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	480,000,000	480,000,000
Common stock, shares issued (in shares)	149,400,000	143,500,000
Common stock, shares outstanding (in shares)	149,400,000	143,500,000
Treasury Stock, Common and Preferred, Shares	999,966	991,089
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	500,000	500,000
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)	85,454	82,948
Temporary equity, shares outstanding (in shares)	85,454	82,948
Series B Convertible Preferred Stock [Member]
Temporary equity, liquidation preference (in dollars per share)	$ 1,000	$ 1,000
Temporary equity, shares issued (in shares)	81,629	79,239
Temporary equity, shares outstanding (in shares)	81,629	79,239
Series C Convertible Preferred Stock [Member]
Temporary equity, liquidation preference (in dollars per share)	$ 1,000	$ 1,000
Temporary equity, shares issued (in shares)	61,156	59,366
Temporary equity, shares outstanding (in shares)	61,156	59,366

Note 6 - Other Non-current Assets

3 Months Ended

Mar. 31, 2023

Other Assets Disclosure [Text Block]

Note 6 — Other Non-Current Assets

Other non-current assets consisted of the following (in thousands):

	*March 31,*		*December 31,*
	*2023*		*2022*
Permitting costs⁽¹⁾	$	8,680	$	8,540
Rio Grande Site Lease initial direct costs		21,243		19,647
Deposits and other		185		185
Total other non-current assets, net	$	30,108	$	28,372

⁽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 9 - Stockholders' Equity	3 Months Ended
Note 9 - Stockholders' Equity	Mar. 31, 2023
Notes to Financial Statements
Equity [Text Block]	Note 9 — Stockholders' Equity Common Stock Purchase Agreement On February 3, 2023, the Company entered into a common stock purchase agreement (the “Stock Purchase Agreement”) for a private placement (the “Private Placement”) with HGC NEXT INV LLC and Ninteenth Investment Company LLC (the “Purchasers”), pursuant to which the Company sold an aggregate of 5,835,277 shares of the Company’s common stock at a purchase price of $5.998 per share, representing the average closing trading price of the Common Stock for the five trading days immediately preceding signing the Stock Purchase Agreement, for an aggregate purchase price of $35.0 million.

The entire disclosure for equity.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Note 12 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Tax Expense (Benefit)	$ 0	$ 0

Rio Grande Site Lease initial direct costs

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Note 6 - Other Non-current Assets - Schedule of Other Non-current Assets (Details) - USD ($)
$ in Thousands

Mar. 31, 2023

Dec. 31, 2022

Permitting costs

^[1]

$ 8,680

$ 8,540

21,243

19,647

Deposits and other

185

Total other non-current assets, net

$ 30,108

$ 28,372

[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 1 - Background and Basis of Presentation

3 Months Ended

Mar. 31, 2023

Business Description and Basis of Presentation [Text Block]

Note 1 — Background and Basis of Presentation

NextDecade Corporation engages in development activities related to the liquefaction and sale of liquefied natural gas (“LNG”) and the capture and storage of CO₂ emissions. We have focused our development activities on the Rio Grande LNG terminal facility at the Port of Brownsville in southern Texas (the “Terminal”), a carbon capture and storage project at the Terminal (the “Terminal CCS project”) and other carbon capture and storage projects (“CCS projects”) with third-party industrial source facilities.

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 of Regulation S-X. Accordingly, they do not include all the information and disclosures required by GAAP for complete financial statements and should be read in conjunction with the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2022. In our opinion, all adjustments, consisting only of normal recurring items, which are considered necessary for a fair presentation of the unaudited consolidated financial statements, have been included. The results of operations for the three months ended March 31, 2023 are not necessarily indicative of the operating results for the full year.

Certain reclassifications have been made to conform prior period information to the current presentation. The reclassifications did not have a material effect on the Company's financial position, results of operations or cash flows.

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 March 31, 2023, the Company had $51.1 million in cash and cash equivalents, which may not be sufficient to fund the Company's planned operations through one year after the date the consolidated financial statements are issued. Accordingly, there is substantial doubt about the Company's ability to continue as a going concern. The analysis used to determine the Company's ability to continue as a going concern does not include cash sources outside of the Company's direct control that management expects to be available within the next twelve months.

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 limited to, the market demand for the Company's equity or debt securities, which itself is subject to a number of business risks and uncertainties, as well as the uncertainty that the Company would be able to raise such additional capital at a price or on terms that are satisfactory to the Company. In the event the Company is unable to obtain sufficient additional funding, there can be no assurance that it will be able to continue as a going concern.

These consolidated financial statements have been prepared on a going concern basis and do not include any adjustments to the amounts and classification of assets and liabilities that may be necessary in the event the Company can no longer continue as a going concern.

Note 9 - Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
	Feb. 03, 2023	Mar. 31, 2023	Mar. 31, 2022
Proceeds from Issuance of Common Stock		$ 35,000	$ 0
HGC NEXT INV LLC [Member]
Stock Issued During Period, Shares, New Issues (in shares)	5,835,277
Share Price (in dollars per share)	$ 5.998
Proceeds from Issuance of Common Stock	$ 35,000

Note 10 - Net Loss Per Share (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	*Three Months Ended*
	*March 31,*
	*2023*			*2022*
Weighted average common shares outstanding:
Basic		146,931			121,328
Dilutive unvested stock, convertible preferred stock, Common Stock Warrants and IPO Warrants		—			—
Diluted		146,931			121,328

Basic and diluted net loss per share attributable to common stockholders	$	(0.23	)	$	(0.14	)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

	*Three Months Ended*
	*March 31,*
	*2023*		*2022*
Unvested stock and stock units ⁽¹⁾		2,053		1,347
Convertible preferred stock		52,622		37,671
Common Stock Warrants		1,380		1,452
IPO Warrants ⁽²⁾		—		12,082
Total potentially dilutive common shares		56,055		52,552

Note 8 - Preferred Stock and Common Stock Warrants - Fair Value Assumptions (Details)	Mar. 31, 2023	Dec. 31, 2022
Measurement Input, Share Price [Member]
Warrant measurement input	4.97	4.94
Measurement Input, Exercise Price [Member]
Warrant measurement input	0.01	0.01
Measurement Input, Risk Free Interest Rate [Member]
Warrant measurement input	0.041	0.046
Measurement Input, Price Volatility [Member]
Warrant measurement input	0.483	0.525
Measurement Input, Expected Term [Member]
Warrant measurement input	1.2	1.5

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues	$ 0	$ 0
Operating expenses
General and administrative expense	26,271	3,323
Development expense, net	464	1,545
Lease expense	337	219
Depreciation expense	38	47
Total operating expenses	27,110	5,134
Total operating loss	(27,110)	(5,134)
Other income (expense)
Loss on common stock warrant liabilities	(367)	(6,304)
Other, net	130	1
Total other expense	(237)	(6,303)
Net loss attributable to NextDecade Corporation	(27,347)	(11,437)
Preferred stock dividends	(6,700)	(5,754)
Net loss attributable to common stockholders	$ (34,047)	$ (17,191)
Net loss per common share - basic and diluted (in dollars per share)	$ (0.23)	$ (0.14)
Weighted average shares outstanding - basic and diluted (in shares)	146,931	121,328

Note 6 - Other Non-current Assets (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of Other Assets, Noncurrent [Table Text Block]

	*March 31,*		*December 31,*
	*2023*		*2022*
Permitting costs⁽¹⁾	$	8,680	$	8,540
Rio Grande Site Lease initial direct costs		21,243		19,647
Deposits and other		185		185
Total other non-current assets, net	$	30,108	$	28,372

Note 5 - Leases

3 Months Ended

Mar. 31, 2023

Lessee, Operating Leases [Text Block]

Note 5 — Leases

Our leased assets consist of office space.

Operating lease right-of-use assets are as follows (in thousands):

	*March 31,*		*December 31,*
	*2023*		*2022*
Office leases	$	1,216	$	1,474
Total operating lease right-of-use assets, net	$	1,216	$	1,474

Operating lease liabilities are as follows (in thousands):

	*March 31,*		*December 31,*
	*2023*		*2022*
Office leases	$	873	$	1,093
Total current lease liabilities	$	873	$	1,093
Non-current office leases		395		465
Total lease liabilities	$	1,268	$	1,558

Operating lease expense is as follows (in thousands):

	*Three Months Ended March 31,*
	*2023*		*2022*
Office leases	$	309	$	157
Total operating lease expense		309		157
Short-term lease expense		28		62
Total lease expense	$	337	$	219

Maturity of operating lease liabilities as of March 31, 2023 are as follows (in thousands, except lease term and discount rate):

2023 (remaining)	$	980
2024		275
2025		252
2026		—
2027		—
Thereafter		—
Total undiscounted lease payments		1,507
Discount to present value		(239	)
Present value of lease liabilities	$	1,268

Weighted average remaining lease term - years		2.0
Weighted average discount rate - percent		12.0

Other information related to our operating leases is as follows (in thousands):

	*Three Months Ended March 31,*
	*2023*		*2022*
Cash paid for amounts included in the measurement of operating lease liabilities:
Cash flows from operating activities		$ 290		$ 173

Note 14 - Recent Accounting Pronouncements

3 Months Ended

Mar. 31, 2023

Accounting Standards Update and Change in Accounting Principle [Text Block]

Note 14 — Recent Accounting Pronouncements

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, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in Entity's Own Equity		This standard simplifies the accounting for convertible instruments primarily by eliminating the existing cash conversion and beneficial conversion models within Subtopic 470-20, which will result in fewer embedded conversion options being accounted for separately from the host. This standard also amends and simplifies the calculation of earnings per share relating to convertible instruments.		January 1, 2022		The Company adopted this standard using the modified retrospective approach, which did not have an effect on the Company's consolidated financial statements.

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (h)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SAB Topic 11.M.Q2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480530/250-10-S99-5

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (i)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479832/842-10-65-5

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (f)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479832/842-10-65-5

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483550/848-10-65-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479343/105-10-65-6

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (e)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482833/825-10-65-6

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482833/825-10-65-6

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482833/825-10-65-6

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-4

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-4

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483194/926-20-65-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483194/926-20-65-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483194/926-20-65-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480530/250-10-S99-6

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 250
-Publisher FASB
-URI https://asc.fasb.org//250/tableOfContent

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (d)(1)
-SubTopic 20
-Topic 310
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481925/310-20-65-2

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (d)(2)
-SubTopic 20
-Topic 310
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481925/310-20-65-2

Note 7 - Accrued Liabilities and Other Current Liabilities

3 Months Ended

Mar. 31, 2023

Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]

Note 7 — Accrued Liabilities and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following (in thousands):

	*March 31,*		*December 31,*
	*2023*		*2022*
Employee compensation expense	$	2,410	$	6,650
Terminal costs		15,826		12,046
Permitting costs		140		279
Accrued legal services		9,284		3,124
Share-based compensation liability		182		182
Other accrued liabilities		819		903
Total accrued liabilities and other current liabilities	$	28,661	$	23,184

Note 4 - Property, Plant and Equipment - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Property, plant and equipment, net	$ 243,870	$ 218,646
Computer Equipment [Member]
Property, plant and equipment, gross	778	780
Furniture and Fixtures [Member]
Property, plant and equipment, gross	610	610
Leasehold Improvements [Member]
Property, plant and equipment, gross	101	101
Excluding Construction in Progress [Member]
Property, plant and equipment, gross	1,489	1,491
Less: accumulated depreciation	(1,044)	(1,006)
Property, plant and equipment, net	445	485
Construction in Progress [Member]
Property, plant and equipment, gross	243,425	218,161
Construction in Progress [Member] \| Rio Grande [Member]
Property, plant and equipment, gross	222,408	197,144
Construction in Progress [Member] \| Rio Bravo [Member]
Property, plant and equipment, gross	$ 21,017	$ 21,017

Note 2 - Prepaid Expenses and Other Current Assets

3 Months Ended

Mar. 31, 2023

Prepaid Expense and Other Current Assets [Text Block]

Note 2 — Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following (in thousands):

	*March 31,*		*December 31,*
	*2023*		*2022*
Prepaid subscriptions	$	556	$	423
Prepaid insurance		300		619
Prepaid marketing and sponsorships		246		—
Other		468		107
Total prepaid expenses and other current assets	$	1,570	$	1,149

Note 4 - Property, Plant and Equipment (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Depreciation	$ 38	$ 47

Note 2 - Prepaid Expenses and Other Current Assets (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of Prepaid Expense and Other Current Assets [Table Text Block]

	*March 31,*		*December 31,*
	*2023*		*2022*
Prepaid subscriptions	$	556	$	423
Prepaid insurance		300		619
Prepaid marketing and sponsorships		246		—
Other		468		107
Total prepaid expenses and other current assets	$	1,570	$	1,149

Note 3 - Sale of Equity Interests in Rio Bravo

3 Months Ended

Mar. 31, 2023

Equity Method Investments and Joint Ventures Disclosure [Text Block]

Note 3 — Sale of Equity Interests in Rio Bravo

On March 2, 2020, NextDecade LLC closed the transactions (the “Closing”) contemplated by that certain Omnibus Agreement, dated February 13, 2020, with Spectra Energy Transmission II, LLC, a wholly owned subsidiary of Enbridge Inc. (“Buyer”), pursuant to which NextDecade LLC sold one hundred percent of the equity interests (the “Equity Interests”) in Rio Bravo Pipeline Company, LLC (“Rio Bravo”) to Buyer for consideration of approximately $19.4 million. Buyer paid $15.0 million of the Purchase Price to NextDecade LLC at the Closing and the remainder will be paid within five business days after the date that Rio Grande has received, after a final positive investment decision, the initial funding of financing for the development, construction and operation of the Terminal. Rio Bravo is developing a proposed interstate natural gas pipeline (the “Pipeline”) to supply natural gas to the Terminal. In connection with the Closing, Rio Grande LNG Gas Supply LLC, an indirect wholly-owned subsidiary of the Company (“Rio Grande Gas Supply”), entered into (i) a Precedent Agreement for Firm Natural Gas Transportation Service for the Rio Bravo Pipeline (the “RBPL Precedent Agreement”) with Rio Bravo and (ii) a Precedent Agreement for Natural Gas Transportation Service (the “VCP Precedent Agreement”) with Valley Crossing Pipeline, LLC (“VCP”). VCP and, as of the Closing, Rio Bravo are wholly owned subsidiaries of Enbridge Inc. The Valley Crossing Pipeline is owned and operated by VCP.

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 later than December 31, 2023, of notice that Rio Grande Gas Supply or its affiliate has issued a full notice to proceed to the engineering, procurement and construction contractor (the “EPC Contractor”) for the construction of the Terminal. Under the RBPL Precedent Agreement, in consideration for the provision of such firm transportation services, Rio Bravo will be remunerated on a dollar-per-dekatherm, take-or-pay basis, subject to certain adjustments, over a term of at least twenty years, all in compliance with the federal and state authorizations associated with the Pipeline.

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 later than December 31, 2023, of notice that Rio Grande Gas Supply or its affiliate has issued a full notice to proceed to the EPC Contractor for the construction of the Terminal. VCP will be responsible, at its sole cost and expense, to construct, install, own, operate and maintain the tap, riser and valve facilities (the “VCP Transporter Facilities”), which shall connect to Rio Grande Gas Supply’s custody transfer meter and such other facilities as necessary in order for the Terminal to receive gas from the VCP Transporter Facilities (the “Rio Grande Gas Supply Facilities”). Rio Grande Gas Supply will be responsible, at its sole cost and expense, to construct, install, own, operate and maintain the Rio Grande Gas Supply Facilities. Under the VCP Precedent Agreement, in consideration for the provision of the commissioning transportation services, VCP will be remunerated on the same dollar-per-dekatherm, take-or-pay basis as set forth in the RBPL Precedent Agreement for the duration of such commissioning services, all in compliance with the federal and state authorizations associated with the Valley Crossing Pipeline.

If Rio Grande or its affiliate fails to issue a full notice to proceed to the EPC Contractor on or prior to December 31, 2024, Buyer has the right to sell the Equity Interests back to NextDecade LLC and NextDecade LLC has the right to repurchase the Equity Interests from Buyer, in each case at a price not to exceed $23 million. Accordingly, the proceeds from the sale of the Equity Interests and additional costs incurred by Buyer are presented as a non-current liability and the assets of Rio Bravo have not been de-recognized in the consolidated balance sheet at March 31, 2023.

Note 12 - Income Taxes

3 Months Ended

Mar. 31, 2023

Income Tax Disclosure [Text Block]

Note 12 — Income Taxes

Due to our cumulative loss position, we have established a full valuation allowance against our deferred tax assets at March 31, 2023 and December 31, 2022. Due to our full valuation allowance, we have not recorded a provision for federal or state income taxes during either of the three months ended March 31, 2023 or 2022.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

Note 5 - Leases - Maturity of Operating Lease (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
2023 (remaining)	$ 980
2024	275
2025	252
2026	0
2027	0
Thereafter	0
Total undiscounted lease payments	1,507
Discount to present value	(239)
Present value of lease liabilities	$ 1,268	$ 1,558
Weighted average remaining lease term - years (Year)	2 years
Weighted average discount rate - percent	12.00%

Note 7 - Accrued Liabilities and Other Current Liabilities (Tables)

3 Months Ended

Mar. 31, 2023