Fervo Energy Company (NASDAQ:FRVO) reported Wednesday a second-quarter 2026 net loss of $55.9 million, or a 38-cent loss per diluted share, compared with an $11.4 million loss, or a $1.31 per share loss, a year earlier.
The per-share loss missed the 12-cent loss estimate, while revenue of $113,000 missed the $420,000 estimate.
Financial Position and IPO Operating loss widened to $28.7 million from $10.3 million, while capital expenditures rose to $226.5 million from $108 million on continued Cape Station investment.
Fervo ended June with about $2.1 billion in cash and equivalents and $228.4 million in current and long-term debt.
The company raised about $2.2 billion in its May IPO and repaid the XRC Facility using proceeds from the $421 million non-recourse Project Granite Facility.
