Financial Performance - Aemetis reported revenues of $81.4 million for Q3 2024, a 19% increase compared to $68.7 million in Q3 2023[1][5] - Gross profit for Q3 2024 was $3.9 million, significantly up from $492 thousand in Q3 2023[6][19] - Operating loss narrowed to $3.9 million in Q3 2024 from an operating loss of $8.5 million in Q3 2023[7][19] - Net loss for Q3 2024 was $17.9 million, compared to a net income of $30.7 million in Q3 2023[9][19] - Total revenues for the first three quarters of 2024 reached $220.6 million, up from $116.0 million in the same period of 2023[10][19] - Adjusted EBITDA for the three months ended September 2024 was $1,459 thousand, a recovery from a loss of $4,886 thousand in the same period of 2023[21] - Net loss for the three months ended September 2024 was $17,935 thousand, compared to a net income of $30,711 thousand for the same period in 2023[21] Revenue Sources - The California Ethanol business generated $45.0 million in revenues, while the India Biodiesel business contributed $32.2 million, and the Dairy Renewable Natural Gas (RNG) business added $4.2 million[2][5] - Aemetis anticipates substantial revenue growth from its operating dairies and new dairies under construction upon receiving LCFS provisional pathway approvals and federal IRA 45Z production tax credits for RNG[3] - The approval of 20 years of Low Carbon Fuel Standard mandates is expected to enhance revenues and earnings across Aemetis' U.S. businesses[4] Production and Sales Metrics - Ethanol gallons sold increased to 15.5 million in the three months ended September 2024, up from 13.8 million in the same period of 2023, marking a growth of approximately 12.3%[22] - Dairy Renewable Natural Gas production increased to 86.6 thousand MMBtu in the three months ended September 2024, compared to 66.6 thousand MMBtu in the same period of 2023, an increase of approximately 30%[22] - Biodiesel metric tons sold rose to 26.0 thousand in the three months ended September 2024, up from 15.5 thousand in the same period of 2023, representing a growth of approximately 67.7%[22] Cost and Pricing - Average sales price per gallon of ethanol decreased to $2.12 in the three months ended September 2024 from $2.64 in the same period of 2023, a decline of about 19.7%[22] - The average delivered cost per bushel of corn decreased to $6.07 in the three months ended September 2024 from $7.48 in the same period of 2023, a reduction of about 18.9%[22] Capital Investments and Assets - Investments in capital projects for Q3 2024 amounted to $4.5 million, focusing on reducing carbon intensity and constructing dairy digesters[9] - Aemetis is actively expanding its biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas[16] - Total assets increased to $247,425 thousand in 2024 from $243,406 thousand in 2023, reflecting a growth of approximately 0.8%[20] - Current liabilities rose significantly to $132,242 thousand in 2024, up from $84,389 thousand in 2023, representing an increase of about 56.7%[20] - Stockholders' deficit increased to $(258,909) thousand in 2024 from $(216,977) thousand in 2023, reflecting a decline of approximately 19.3%[20]

Core Insights - Aemetis, Inc. has been recognized as the 7th Hottest Company in the Bioeconomy at the Advanced Bioeconomy Leadership Conference (ABLC) [1][2] - The recognition is based on votes from ABLC delegates, highlighting global innovation in sustainable fuels and chemicals [2] - Aemetis is focused on low and negative carbon intensity products, with significant progress reported in various business segments during 2024 [3][4] Company Developments - Aemetis has secured $50 million in USDA guaranteed financing and is in the process of obtaining an additional $100 million [3] - The company's biodiesel deliveries in India exceeded $100 million under a cost-plus contract with government-owned oil marketing companies [4] - The dairy renewable natural gas (RNG) business is projected to grow from 200,000 MMBtu to 550,000 MMBtu annual capacity by the end of 2024 [4] Technological Advancements - The Keyes ethanol plant has completed a $12 million solar and battery backup project and is designing a $22 million mechanical vapor recompression system to reduce carbon intensity by over 20% [5] - Aemetis is actively engaging with airline investors for project equity financing in its sustainable aviation fuel (SAF) plant [5] - The company has initiated the first phase of drilling for a carbon sequestration characterization well in California [5][7] Regulatory Support - Aemetis anticipates support from upcoming regulatory actions, including the reauthorization of the Low Carbon Fuel Standard (LCFS) in California, which could increase the value of LCFS credits from $60 to over $200 per metric ton [6] - The expected IRS guidance for the Inflation Reduction Act Section 45Z Production Tax Credit for RNG is projected to generate up to $100 million in new revenues annually by 2026 [6] Market Position - Founded in 2006, Aemetis is the largest producer of biodiesel in India and the largest ethanol producer in California [6] - The company is building a significant dairy biogas digester network in California, with plans for 16 digesters by the end of 2024 [6] - Aemetis has signed contracts with ten airlines for $3.8 billion of SAF supply and has received permits for an 80 million gallon per year SAF plant [7]

Core Insights - Aemetis, Inc. is set to begin biogas production of over 200,000 MMBtu per year by the end of 2024 through its multi-dairy anaerobic digester project in California [1] - The company currently generates approximately 300,000 MMBtu per year of renewable natural gas (RNG) and expects to increase this to about 550,000 MMBtu per year after the completion of new digesters [2] - Aemetis has signed agreements with 48 dairies and plans to add 27 more, aiming for over 1.6 million MMBtu per year of RNG and annual revenues of $250 million when fully operational [3] Company Overview - Aemetis is headquartered in Cupertino, California, and focuses on renewable natural gas, renewable fuels, and biochemicals, aiming to replace petroleum-based products and reduce greenhouse gas emissions [4] - The company operates a biogas digester network and pipeline system in California, converting dairy waste into RNG, and also has ethanol and biodiesel production facilities [4]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36475 Aemetis, Inc. (Exact name of registrant as specified in its charter) Delaware 26-1407544 (State or other jurisdicti ...

Financial Data and Key Metrics Changes - Revenue for Q2 2024 was $66.6 million, up from $45.1 million in Q2 2023, attributed to full operation of key plants compared to maintenance in the prior year [8] - Gross loss for Q2 2024 was $1.8 million, a decline from a profit of $2 million in Q2 2023 [9] - Operating loss increased to $13.6 million in Q2 2024 from $8.7 million in Q2 2023 [9] - Net loss for Q2 2024 was $29.2 million, compared to a net loss of $25.3 million in Q2 2023 [10] - Cash at the end of Q2 2024 was $234,000, down from $2.7 million at the end of Q4 2023 [10] Business Line Data and Key Metrics Changes - Dairy natural gas segment generated $1.6 million in revenue from 89,400 MMBtus produced [8] - India biodiesel business recognized $24.8 million in revenue, primarily from sales to Indian oil marketing companies [9] Market Data and Key Metrics Changes - The company anticipates regulatory events in California to significantly boost demand for renewable fuels, with potential annual cash flow increases exceeding $50 million starting January 2025 [14] Company Strategy and Development Direction - Aemetis is executing a five-year plan focused on positive cash flow from operations and long-term lower interest rate debt financing [11] - The company is expanding its biogas and renewable diesel operations, with a focus on sustainable aviation fuel production [18] - Aemetis aims to position itself as a supplier of renewable natural gas and hydrogen, contributing to the transition to zero-emission vehicles [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving positive cash flow from all three operating businesses in Q3 2024 [15] - Regulatory approvals expected in late 2024 and early 2025 are anticipated to enhance product value and cash flow [14][15] - The company is optimistic about the ethanol market, expecting improved margins due to favorable crop conditions [29] Other Important Information - Aemetis has secured $50 million in USDA guaranteed loans for biogas projects and is pursuing additional funding [16] - The company is actively working on an IPO process, with expectations for completion in the first half of 2025 [61] Q&A Session Summary Question: What rate is needed to move carbon credit prices higher? - Management indicated that a minimum of 9% is required to incentivize major oil companies to purchase more credits, especially with the expected increase in credit bank numbers [25][26] Question: Are ethanol margins expected to improve? - Management confirmed an uptick in margins for July, with expectations for a favorable margin environment moving into the fall [28][29] Question: How many dairy digesters will be operational by year-end? - Management expects to have approximately 16 dairy digesters operational by year-end 2024, with nine currently operating and six under construction [30][31] Question: What is the timeline for the MVR project? - Management expressed high confidence in completing the MVR project by Q3 2025, with fabrication already underway [34][36] Question: What is the expected impact of the 45Z guidance on biogas? - Management explained that the 45Z production tax credit could significantly enhance the value of biogas, with calculations indicating potential earnings exceeding $50 million [54] Question: What is the profitability outlook for the India biodiesel segment? - Management noted that the India biodiesel business had a multimillion-dollar EBITDA quarter and expects continued growth [46][47] Question: What is the expected timing for the implementation of LCFS changes? - Management anticipates that if CARB votes on November 8, implementation may slip to July 2025 [51] Question: What is the status of the IPO process? - Management confirmed that they are actively working with investment banks and expect to provide updates on the IPO process in the near future [59][61]

Aemetis (AMTX) came out with a quarterly loss of $0.66 per share versus the Zacks Consensus Estimate of a loss of $0.58. This compares to loss of $0.68 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -13.79%. A quarter ago, it was expected that this renewable fuels and specialty chemicals company would post a loss of $0.43 per share when it actually produced a loss of $0.58, delivering a surprise of -34.88%.Over the last four ...

Revenues Increased 48% Over the Second Quarter of 2023 CUPERTINO, CA, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Aemetis, Inc. (NASDAQ:AMTX), a renewable natural gas and renewable fuels company focused on low and negative carbon intensity products that replace fossil fuels, today announced its financial results for the three and six months ended June 30, 2024.  Revenues of $66.6 million for the second quarter of 2024 reflect strong execution by all three of the company's operating segments, with the California Ethan ...

Revenues Increased 48% Over the Second Quarter of 2023 CUPERTINO, CA, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Aemetis, Inc. (NASDAQ: AMTX), a renewable natural gas and renewable fuels company focused on low and negative carbon intensity products that replace fossil fuels, today announced its financial results for the three and six months ended June 30, 2024.  Revenues of $66.6 million for the second quarter of 2024 reflect strong execution by all three of the company’s operating segments, with the California Etha ...

Revenue Performance - Aemetis reported revenues of $66.6 million for Q2 2024, a 48% increase compared to $45.1 million in Q2 2023[1][5] - The California Ethanol business generated $40.1 million in revenues, while the India Biodiesel business contributed $28.8 million, and the Dairy RNG business added $1.6 million[1][5] - Total revenues for the first half of 2024 reached $139.2 million, significantly up from $47.3 million in the first half of 2023[8] Loss and Expenses - The company reported a net loss of $29.2 million for Q2 2024, compared to a net loss of $25.3 million in Q2 2023[6] - Selling, general and administrative expenses increased to $11.8 million in Q2 2024 from $9.7 million in Q2 2023, primarily due to a loss on asset disposals[6] - The operating loss for the first half of 2024 was $23.1 million, compared to a loss of $19.9 million in the same period of 2023[9] - Net loss for the three months ended June 30, 2024, was $29,174 thousand compared to a loss of $25,279 thousand for the same period in 2023[19] - Adjusted EBITDA for the three months ended June 30, 2024, was $(5,906) thousand, compared to $(4,262) thousand for the same period in 2023[19] - The company reported an accumulated deficit of $(528,810) thousand, up from $(475,405) thousand year-over-year[17] Cash and Assets - Cash at the end of Q2 2024 was $234 thousand, down from $2.7 million at the end of Q4 2023[7] - Total assets decreased to $232,088 thousand from $243,406 thousand, a decline of approximately 4.7%[17] - Current liabilities increased significantly to $120,853 thousand from $84,389 thousand, an increase of about 43%[17] Production and Sales Metrics - Ethanol gallons sold increased to 14.8 million from 2.8 million, a growth of over 428%[20] - Average sales price per gallon of ethanol decreased to $1.99 from $3.12, a decline of approximately 36%[20] - Dairy Renewable Natural Gas production increased to 89.4 thousand MMBtu from 54.1 thousand MMBtu, an increase of about 65%[20] - Biodiesel metric tons sold decreased to 20.4 thousand from 25.7 thousand, a decline of approximately 20%[20] - Average sales price per metric ton of biodiesel decreased to $1,162 from $1,276, a decline of about 9%[20] Strategic Initiatives - Aemetis is pursuing an IPO for its India Biofuel business, indicating a commitment to market expansion[4] - The Dairy RNG business has the capacity to produce over 300,000 MMBtu of renewable natural gas annually, which is expected to enhance future revenues[2] Tax Credits and Cost Reductions - Aemetis received $10.5 million in IRA tax credits to support the installation of a Mechanical Vapor Recompression system, projected to reduce natural gas usage by approximately 80%[3]

CUPERTINO, CA, July 26, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire – Aemetis, Inc. (NASDAQ: AMTX) announced that the company will host a conference call to review the release of its second quarter 2024 earnings report: Date:   Thursday, August 1, 2024 Time:   11 am Pacific Standard Time (PST) Live Participant Dial In (Toll Free): +1-888-506-0062 entry code 807848 Live Participant Dial In (International): +1-973-528-0011 entry code 807848 Webcast URL:   https://www.webcaster4.com/Webcast/Page/2211/50872 Atte ...