The numbers: In its Q3 earnings report, buzzy geothermal company Fervo Energy noted a nearly $44M operating loss. But the company said its contracted revenue hit $11.9B, up from $7.2B the previous quarter.
The turbulence: Fervo has had an eventful few months. In September, the company made geothermal history when it announced first power at its Cape Station plant. But in October, a report alleged that Fervo has kept “existential” technical challenges under wraps—this sent the company’s stock tumbling (the claims are currently under investigation).