New Era Energy & Digital’s Q3 Net Loss Widens to $16.6 million

New Era Energy & Digital, Inc. (Nasdaq: NUAI) posted a $16.6 million third-quarter net loss, up from $5.8 million a year earlier, as revenue fell and operating expenses rose.

Revenue for the quarter ended Sept. 30, 2026, was $147,674, compared with $159,411 in the year-earlier quarter. General and administrative expenses climbed to $16.6 million from $3.7 million. Higher stock-based compensation and employee costs, alongside headcount growth, drove the increase.

New Era completed its $64 million private placement, following its earlier $64 million placement announcement. At Oct. 31, total cash was $187 million, including $49 million in unrestricted funds and $138 million in restricted funds. The company had $20 million in outstanding debt, which was cash-collateralized.

Lease-document negotiations for Phase 1 of the Texas Critical Data Centers project have advanced with the same prospective tenant. The discussions fall under a nonbinding letter of intent covering Phases 1 and 2.

The Phase 1 power purchase agreement covers a minimum of 200 megawatts and up to 207 megawatts of firm power. Power availability is expected in Q3 2027, with initial ready-for-service targeted for Q4 2027.