CUPERTINO, Calif., March 25, 2026 (GLOBE NEWSWIRE) -- Aemetis, Inc. (NASDAQ: AMTX), a diversified renewable natural gas and biofuels company, announced that its CEO, Eric McAfee, was awarded the 2026 William C. Holmberg Memorial Award for Lifetime Achievement in the Bioeconomy. McAfee received the award and delivered the Holmberg Memorial Address acceptance speech during a ceremony on March 19, 2026, at the annual Advanced Biofuels Leadership Conference in Washington D.C., hosted by Biofuels Digest, the mos ...

Core Viewpoint - Aemetis, Inc. is transitioning from a capital-intensive buildout to a monetizable low-carbon fuels platform, with significant progress in its Dairy RNG business [1]. Group 1: Financial Performance - Aemetis reported a 4Q25 production of approximately 405,000 MMBtu, with a year-over-year output increase of 61% [1]. - The Biogas segment generated $10.3 million in production tax credits and $12.2 million in segment net income during the fourth quarter, indicating profitability [1]. Group 2: Business Development - The company is capturing value from RNG molecule sales, D3 RINs, LCFS credits, and federal production tax credits, with seven new CARB pathway approvals enhancing average RNG carbon intensity from negative-150 to negative-380 [1]. - Stonegate's analysis suggests a median valuation target of $11.7 per share, indicating substantial upside potential from current trading levels [8]. Group 3: Strategic Positioning - Aemetis is nearing an EBITDA inflection point as it scales Dairy RNG production and improves ethanol economics, positioning the company for sustained operating cash flow growth [8]. - The integrated platform of Dairy RNG, low-carbon ethanol, and SAF optionality allows Aemetis to monetize production through various revenue streams, including fuel sales and tax incentives [8].

Core Insights - Aemetis, Inc. is a significant player in the biofuels industry, focusing on renewable fuels and chemicals [1] Financial Performance - Aemetis reported a quarterly loss of $0.24 per share, which was better than the Zacks Consensus Estimate of a $0.27 loss, indicating an improvement from the previous year's loss of $0.36 per share, resulting in a positive surprise of 11.11% [2][6] - The company reported revenues of $43.31 million for the quarter ending December 2025, which was 37.6% below the Zacks Consensus Estimate and a decline from $47 million reported in the previous year, highlighting ongoing challenges in meeting revenue expectations [3] Stock Performance - The stock price of AMTX increased by 21.10%, rising to $1.87, with fluctuations between a low of $1.49 and a high of $1.88 during the day [4][6] - Over the past year, AMTX has experienced a high of $3.66 and a low of $1.22, indicating significant market volatility [4] - Aemetis has a market capitalization of approximately $123.5 million and a trading volume of 2,084,075 shares, reflecting its notable presence in the biofuels sector [5]

Financial Data and Key Metrics Changes - For Q4 2025, revenue plus tax credits totaled $53.7 million, up from $47 million in Q4 2024, with gross profit improving to $7.7 million from a gross loss of $2 million [2][3] - The net loss for Q4 2025 improved to $5.3 million compared to $16.2 million in the previous year [3] - For the full year 2025, revenue plus tax credits totaled $208 million, down from $268 million in 2024, while the net loss improved to $77 million from $87.5 million [3] Business Line Data and Key Metrics Changes - The dairy renewable natural gas (RNG) platform achieved positive segment net income and EBITDA, with production increasing by 61% year-over-year in Q4 2025, generating net income of $12.2 million [4] - The Keyes ethanol plant generated $158 million in revenue during 2025, with an annual production capacity of approximately 65 million gallons [6] - The biodiesel facility in India generated $29.7 million in revenue during 2025, with significant capacity to meet government biodiesel blending goals [7] Market Data and Key Metrics Changes - The price of low carbon fuel standard (LCFS) credits increased by 60% over the past nine months, contributing to revenue and cash flow growth [5] - The dairy RNG business produced approximately 405,000 MMBtus of renewable natural gas and expanded to 12 operating digesters [5] Company Strategy and Development Direction - The company aims to scale production and monetize environmental credit values associated with its renewable fuels platform, with a focus on completing the India IPO and long-term refinancing of existing debt [8] - Key policy developments include the finalization of the 45Z emissions rate calculation and further strengthening of LCFS markets, which are expected to support long-term growth in low carbon fuels [8] Management's Comments on Operating Environment and Future Outlook - Management expects strong annual growth in cash flow and profitability from the biogas segment over the next four years as 45Z is implemented [4] - The company anticipates RNG production growth in 2026 as additional dairy digesters come online [6] - Management expressed confidence in exceeding 2025 cash flow performance, driven by rising LCFS credit prices and the monetization of the 45Z production tax credit [24][25] Other Important Information - The company is expanding its India business into biogas production and sustainable aviation fuel, with plans for an IPO of the India subsidiary [7][30] - The company is positioned to benefit from the removal of the indirect land use change penalty, which is expected to enhance cash flow from ethanol production [13][40] Q&A Session Summary Question: Expectations for capital investment for 2026 between RNG and ethanol business - Management indicated total investment for the MVR system will be roughly $40 million, with additional investments for digesters totaling about $70 million [10] Question: EBITDA generation for ethanol asset in 2026 - Management described ethanol as a story of two worlds, with significant cash flow expected post-MVR implementation [12][14] Question: Contribution post-MVR and monetization timeline - Management expects contributions to begin in Q3 2026, with monetization occurring without long delays [20][21] Question: India operations and market stability - Management noted that the biodiesel market in India is expected to grow significantly, similar to the ethanol market's past growth [28] Question: Expansion plans for the Keyes plant - Management indicated that while expansion is a future goal, the current focus is on optimizing existing operations [36] Question: Implementation of tailwinds from the Inflation Reduction Bill Act - Management discussed the ongoing implementation phase and the expected release of the GREET model for accurate revenue calculations [40][42] Question: Expansion opportunities in India and potential for a second plant - Management confirmed plans for multiple plants in India, focusing on biogas and sustainable aviation fuel [45]

Financial Data and Key Metrics Changes - For Q4 2025, revenue plus tax credits totaled $53.7 million, up from $47 million in Q4 2024, with gross profit improving to $7.7 million compared to a gross loss of $2 million in the prior year [2][3] - The net loss for Q4 2025 improved to $5.3 million from $16.2 million last year [3] - For the full year 2025, revenue plus tax credits totaled $208 million, down from $268 million in 2024, while the net loss improved to $77 million from $87.5 million in the prior year [3] Business Line Data and Key Metrics Changes - The dairy renewable natural gas (RNG) platform achieved positive segment net income and EBITDA, with production increasing by 61% year-over-year in Q4 2025, generating net income of $12.2 million [4] - The Keyes ethanol plant generated $158 million in revenue during 2025, with an annual production capacity of approximately 65 million gallons [6] - The biodiesel facility in India generated $29.7 million in revenue during 2025, with significant capacity to meet government biodiesel blending goals [7] Market Data and Key Metrics Changes - The price of low carbon fuel standard (LCFS) credits increased by 60% over the past nine months, contributing to revenue and cash flow growth [5] - The dairy RNG business produced approximately 405,000 MMBtus of renewable natural gas and expanded to 12 operating digesters [5] Company Strategy and Development Direction - The company aims to scale production and monetize environmental credit values associated with its renewable fuels platform, with a focus on completing the India IPO and long-term refinancing of existing debt [8] - Key policy developments include the finalization of the 45Z emissions rate calculation and further strengthening of LCFS markets, which are expected to support long-term growth in low carbon fuels [8] Management's Comments on Operating Environment and Future Outlook - Management expects strong annual growth in cash flow and profitability from the biogas segment over the next four years as 45Z is implemented [4] - The company anticipates RNG production to grow in 2026 as additional dairy digesters come online [6] - Management expressed confidence in exceeding 2025 cash flow levels, driven by rising LCFS credit prices and the monetization of the 45Z production tax credit [24] Other Important Information - The mechanical vapor recompression (MVR) upgrade at the Keyes ethanol plant is expected to increase cash flow by approximately $32 million per year when completed in 2026 [4][6] - The company is expanding its India business into biogas production and sustainable aviation fuel [7][30] Q&A Session Summary Question: Expectations for capital investment for 2026 between RNG and ethanol business - Management indicated total investment for the MVR system will be roughly $40 million, with additional investments for digesters totaling about $70 million [10] Question: EBITDA generation for the ethanol asset in 2026 - Management described ethanol as a story of two worlds, with significant cash flow expected post-MVR implementation [12][14] Question: Contribution post-MVR and monetization timeline - Management expects contributions to begin in Q3 2026, with full impact in Q4 [20] Question: Start-stop situation in India operations - Management noted that the biodiesel market in India is expected to grow significantly, similar to the ethanol market [28] Question: Expansion opportunities in India and potential for a second plant - Management confirmed plans for multiple plants near feedstock sources and diversification into biogas and sustainable aviation fuel [45]

Financial Data and Key Metrics Changes - For Q4 2025, revenue plus tax credits totaled $53.7 million, up from $47 million in Q4 2024, with gross profit improving to $7.7 million from a gross loss of $2 million year-over-year [2][3] - The operating loss improved to $2.5 million compared to $13.5 million in Q4 2024, while the net loss improved to $5.3 million from $16.2 million last year [3] - For the full year 2025, revenue plus tax credits totaled $208 million, down from $268 million in 2024, with operating loss improving to $37.2 million and net loss improving to $77 million from $87.5 million in the prior year [3] Business Line Data and Key Metrics Changes - The dairy renewable natural gas (RNG) platform achieved positive segment net income and EBITDA, with production increasing by 61% year-over-year in Q4 2025, generating net income of $12.2 million [4] - The Keyes ethanol plant generated $158 million in revenue during 2025, with a production capacity of approximately 65 million gallons annually [6] - The biodiesel facility in India generated $29.7 million in revenue during 2025, with significant capacity to meet government biodiesel blending goals [7] Market Data and Key Metrics Changes - The price of low carbon fuel standard (LCFS) credits increased by 60% over the past nine months, contributing to revenue and cash flow growth [5] - The dairy RNG business produced approximately 405,000 MMBtus of renewable natural gas and expanded to 12 operating digesters [5] Company Strategy and Development Direction - The company plans to scale production and monetize environmental credit values associated with its renewable fuels platform, with a focus on completing the India IPO and long-term refinancing of existing debt [9] - Key policy developments include the finalization of the 45Z emissions rate calculation and further strengthening of LCFS markets, which are expected to support long-term growth in low carbon fuels [9] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about strong annual growth in cash flow and profitability from the biogas segment over the next four years [4] - The company is positioned to benefit from the removal of indirect land use change penalties and expects significant cash flow generation from the 45Z production tax credit and LCFS credits [14][25] Other Important Information - The company is expanding its India business into biogas production and sustainable aviation fuel, with plans for an IPO of the India subsidiary this year [8][29] - The mechanical vapor recompression upgrade at the Keyes ethanol plant is expected to increase cash flow by approximately $32 million per year upon completion in 2026 [4][6] Q&A Session Summary Question: Expectations for capital investment in 2026 for RNG and ethanol business - Management indicated total investment for the MVR system will be roughly $40 million, with additional investments for digesters totaling about $70 million [11] Question: EBITDA generation for the ethanol asset in 2026 - Management expects significant cash flow generation post-MVR, with potential increases in LCFS credit prices contributing to revenue [14][15] Question: Contribution from MVR investment timeline - Contribution is expected to begin in Q3 2026, with full impact anticipated in Q4 2026 [20] Question: Start-stop situation in India operations - Management noted that the biodiesel market in India is expected to grow significantly, similar to the ethanol market, as the country focuses on domestic renewable fuels [28] Question: Expansion opportunities in India and internationally - The company plans to locate multiple plants near feedstock sources in India and is considering investments outside India as part of the IPO [45][46]

Core Insights - Aemetis reported a quarterly loss of $0.24 per share, better than the Zacks Consensus Estimate of a loss of $0.27, and an improvement from a loss of $0.36 per share a year ago, resulting in an earnings surprise of +11.11% [1] - The company posted revenues of $43.31 million for the quarter ended December 2025, missing the Zacks Consensus Estimate by 37.6% and down from $47 million in the same quarter last year [2] - Aemetis shares have increased by approximately 10.8% since the beginning of the year, contrasting with a 1% decline in the S&P 500 [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.20 on revenues of $95.45 million, and for the current fiscal year, it is -$0.54 on revenues of $456.85 million [7] - The estimate revisions trend for Aemetis was mixed prior to the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6] Industry Context - The Biofuels industry, to which Aemetis belongs, is currently ranked in the top 36% of over 250 Zacks industries, suggesting that companies in the top half of the Zacks-ranked industries tend to outperform those in the bottom half by more than 2 to 1 [8]

Financial Performance - Revenues for the full year of 2025 were $197.6 million, with total income including production tax credits reaching $208.0 million[3]. - Revenues for Q4 2025 were $43,307 million, a decrease of 8.8% from $47,004 million in Q4 2024[31]. - The company reported a net loss of $5.3 million for Q4 2025, an improvement from a net loss of $16.2 million in Q4 2024[17]. - Net loss for Q4 2025 was $5,330 million, compared to a net loss of $16,197 million in Q4 2024, showing an improvement[31]. - Adjusted EBITDA for Q4 2025 was $1,872 million, an increase from a loss of $9,612 million in Q4 2024[35]. - The company reported a total stockholders' deficit of $306,831 million in 2025, compared to $263,928 million in 2024[33]. Production and Revenue Growth - Dairy RNG production increased by 61% year over year in Q4 2025, contributing to a net income of $12.2 million for the segment[4][7]. - The biogas segment achieved a net income of $6.9 million for the year, with annual revenues and production tax credits increasing by 53%[7]. - The ethanol plant generated $158.3 million in revenue during 2025, with an expected annual cash flow increase of approximately $32 million from efficiency upgrades[9][13]. - Ethanol gallons sold in Q4 2025 were 14.3 million, down from 15.7 million in Q4 2024, reflecting a 8.9% decrease[37]. - RINs sold increased to 1,287 thousand in Q4 2025 from 987 thousand in Q4 2024, a growth of 30.4%[37]. Expenses and Liabilities - Selling, general and administrative expenses decreased to $10.2 million in Q4 2025, down from $11.4 million in Q4 2024[16]. - Total current assets decreased to $26,872 million in 2025 from $44,696 million in 2024[33]. - Total current liabilities increased significantly to $371,258 million in 2025 from $143,968 million in 2024[33]. Capital Expenditures and Agreements - Capital expenditures for carbon intensity reduction and biogas production capacity expansion were $26 million in 2025, a 28% increase from the previous year[7]. - Aemetis signed a $27 million agreement to construct H2S and compression units for 15 new dairy digesters, supporting future growth[8]. Regulatory and Market Developments - The California Air Resource Board approved 7 new Low Carbon Fuel Standard pathways, enhancing the carbon intensity score for the Renewable Natural Gas business[8]. - Average sales price per gallon of ethanol increased to $2.01 in Q4 2025 from $1.93 in Q4 2024, a rise of 4.2%[37]. - Average delivered cost of corn per bushel decreased slightly to $5.90 in Q4 2025 from $6.08 in Q4 2024[37].

Core Insights - Aemetis, Inc. reported a significant increase in Dairy RNG production, which rose by 61% year over year in Q4 2025, and expects an annual cash flow increase of approximately $32 million from ethanol plant efficiency upgrades [1][5][13]. Financial Performance - Total revenues for 2025 were $197.6 million, with an additional $10.4 million from production tax credits, leading to a total income of $208.0 million [2][15]. - The company achieved a net income of $12.2 million in the Dairy RNG segment for Q4 2025, contributing to an annual segment net income of $6.9 million [3][5]. - Capital expenditures for carbon intensity reduction and biogas production capacity expansion were $26 million in 2025, reflecting a 28% increase from the previous year [2][5]. Operational Highlights - The Dairy RNG platform expanded to 12 operating digesters, producing approximately 405,000 MMBtu of renewable natural gas in 2025 [4]. - The ethanol plant in Keyes, California generated $158.3 million in revenue and production tax credits during 2025, with a slight decrease in ethanol gallons sold to 14.3 million in Q4 2025 compared to 15.7 million in Q4 2024 [7][10]. - The average selling price of ethanol increased from $1.93 in Q4 2024 to $2.01 in Q4 2025 [10][33]. Market and Regulatory Environment - The California Air Resource Board approved seven new Low Carbon Fuel Standard pathways for Aemetis' RNG business, improving the carbon intensity score from negative 150 to negative 380 [6]. - Legislative support in California for year-round E15 is expected to grow the ethanol market by 50% in the state, helping to mitigate rising gasoline prices [3]. Challenges and Developments - Biodiesel sales in India fell significantly from $3.0 million in Q4 2024 to $600 thousand in Q4 2025 due to structural challenges in the biodiesel program [10][15]. - The company is targeting a public listing for its India subsidiary in 2026, with a new CFO appointed who has IPO experience [8].

Group 1 - Aemetis, Inc. will host a conference call on March 12, 2026, to review its fourth quarter and year-end 2025 earnings report [1] - The conference call will be accessible via toll-free and international dial-in numbers, as well as a webcast [1] - Aemetis provides a voice recording of the conference call available until March 26, 2026, and the webcast will be available on the company's website thereafter [2] Group 2 - Aemetis is a diversified renewable natural gas and biofuels company headquartered in Cupertino, California, focusing on innovative technologies to lower energy costs and reduce emissions [3] - The company operates a biogas digester network and pipeline system in California, converting dairy waste gas into Renewable Natural Gas [3] - Aemetis owns a 65 million gallon per year ethanol production facility in California and an 80 million gallon per year biodiesel production facility in India [3] - The company is also developing a sustainable aviation fuel plant and a CO2 sequestration project in California to utilize byproducts from ethanol production [3]