Core Insights - Aemetis reported a quarterly loss of $0.66 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.58, marking an earnings surprise of -13.79% [1] - The company's revenues for the quarter were $66.56 million, missing the Zacks Consensus Estimate by 11.69%, compared to $45.11 million in the same quarter last year [1] - Aemetis has consistently failed to meet consensus EPS and revenue estimates over the last four quarters [1] Financial Performance - The company has experienced a significant decline in share price, losing approximately 38.7% since the beginning of the year, while the S&P 500 has gained 15.8% [2] - Current consensus EPS estimate for the upcoming quarter is -$0.33 on revenues of $95.88 million, and for the current fiscal year, it is -$1.57 on revenues of $363.75 million [4] Industry Outlook - The Biofuels industry, to which Aemetis belongs, is currently ranked in the top 40% of over 250 Zacks industries, indicating a relatively strong position [5] - Historical data suggests that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [5]

Core Insights - Aemetis, Inc. reported a 48% increase in revenues for Q2 2024, reaching $66.6 million compared to $45.1 million in Q2 2023, driven by strong performance across its operating segments [1][5]. Financial Performance - Revenues for the California Ethanol business were $40.1 million, while the India Biodiesel business generated $28.8 million, and the Dairy Renewable Natural Gas (RNG) business contributed $1.6 million [1]. - The company experienced a gross loss of $1.8 million in Q2 2024, a decline from a gross profit of $2.0 million in Q2 2023 [5][6]. - Selling, general, and administrative expenses rose 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 Q2 2024 was $13.6 million, compared to a loss of $7.8 million in Q2 2023 [6]. - Net loss for Q2 2024 was $29.2 million, compared to a net loss of $25.3 million in Q2 2023 [6]. Operational Highlights - The Dairy RNG business has the capacity to produce over 300,000 MMBtu of renewable natural gas annually, marking a significant cash flow milestone [2]. - Aemetis anticipates additional revenues from operational dairies and those under construction, contingent on receiving LCFS provisional pathway approvals and federal tax credits starting January 2025 [2]. - The California Ethanol business has commissioned a new Solar Microgrid with battery storage to enhance future cash flows by reducing electric utility costs [2]. Strategic Developments - The Ethanol business received $10.5 million in IRA tax credits to support the installation of a Mechanical Vapor Recompression system, expected to reduce natural gas usage by approximately 80% [3]. - Aemetis announced the appointment of a Managing Director and CEO for its India Biofuel business, indicating a commitment to expansion and a potential IPO for this subsidiary [3]. Capital Investments - The company invested $5.4 million in capital projects during Q2 2024, focusing on reducing carbon intensity and constructing dairy digesters [7]. - Total investments in capital projects for the first half of 2024 amounted to $9.0 million, including $7.1 million related to Aemetis Biogas [9]. Production and Sales Metrics - Ethanol production reached 14.8 million gallons in Q2 2024, significantly up from 2.8 million gallons in Q2 2023 [21]. - The average sales price for ethanol was $1.99 per gallon in Q2 2024, compared to $3.12 in Q2 2023 [21]. - The Dairy RNG segment produced 89,400 MMBtu in Q2 2024, up from 54,100 MMBtu in Q2 2023 [21].

Core Insights - Aemetis, Inc. reported a 48% increase in revenues for Q2 2024, reaching $66.6 million compared to $45.1 million in Q2 2023, driven by strong performance across its operating segments [1][5]. Financial Performance - The California Ethanol business generated $40.1 million in revenues, while the India Biodiesel business contributed $28.8 million, and the Dairy Renewable Natural Gas (RNG) business added $1.6 million [1]. - Gross loss for Q2 2024 was $1.8 million, a decline from a profit of $2.0 million in Q2 2023 [5]. - Selling, general and administrative expenses rose to $11.8 million in Q2 2024 from $9.7 million in Q2 2023, primarily due to a $3.6 million loss on asset disposals [6]. - The net loss for Q2 2024 was $29.2 million, compared to a net loss of $25.3 million in Q2 2023 [6]. Operational Highlights - The Dairy RNG business is expected to produce over 300,000 MMBtu of renewable natural gas annually, marking a significant cash flow milestone [2]. - Aemetis has commissioned a new Solar Microgrid with battery storage to enhance future cash flows by reducing electric utility costs [2]. - The company received $10.5 million in IRA tax credits to support the installation of a Mechanical Vapor Recompression system, which is projected to reduce natural gas usage by approximately 80% at the Keyes facility [3]. Strategic Developments - Aemetis announced the appointment of a Managing Director and CEO for its India Biofuel business, indicating a commitment to expand operations and pursue an IPO for this subsidiary [3]. - Investments in capital projects related to carbon intensity reduction and dairy digester construction amounted to $5.4 million in Q2 2024 [7]. Six-Month Financial Overview - For the first half of 2024, revenues totaled $139.2 million, significantly up from $47.3 million in the first half of 2023 [8]. - The gross loss for the first half of 2024 was $2.4 million, compared to a gross profit of $0.7 million in the same period of 2023 [8]. - Net loss for the first half of 2024 was $53.4 million, slightly higher than the net loss of $51.7 million in the first half of 2023 [9].

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]

Core Points - Aemetis, Inc. will host a conference call to discuss its second quarter 2024 earnings report on August 1, 2024, at 11 am PST [1] - The conference call will allow attendees to submit questions during the Q&A session [1] - Aemetis is a renewable natural gas, renewable fuel, and biochemicals company focused on innovative technologies to replace petroleum-based products and reduce greenhouse gas emissions [3] Company Overview - Aemetis is headquartered in Cupertino, California, and was founded in 2006 [3] - The company operates a biogas digester network and pipeline system in California to convert dairy waste gas into Renewable Natural Gas [3] - Aemetis owns a 65 million gallon per year ethanol production facility in California's Central Valley, supplying about 80 dairies with animal feed [3] - The company also operates a 60 million gallon per year biodiesel production facility on the East Coast of India, serving customers in India and Europe [3] - Aemetis is developing a sustainable aviation fuel (SAF) and renewable diesel fuel biorefinery in California, utilizing renewable hydrogen, hydroelectric power, and renewable oils [3]

Aemetis (AMTX) came out with a quarterly loss of $0.58 per share versus the Zacks Consensus Estimate of a loss of $0.43. This compares to loss of $0.73 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -34.88%. A quarter ago, it was expected that this renewable fuels and specialty chemicals company would post a loss of $0.35 per share when it actually produced a loss of $0.64, delivering a surprise of -82.86%.Over the last four ...

Financial Data and Key Metrics Changes - Revenues for Q1 2024 were $72.6 million, a significant increase from $2.2 million in Q1 2023, attributed to the Keyes plant returning to full operation [7] - Gross loss decreased to $612,000 in Q1 2024 from $1.3 million in Q1 2023 [8] - Net loss for Q1 2024 was $24.2 million, compared to a net loss of $26.4 million in Q1 2023 [8] - Cash at the end of Q1 2024 was $1.6 million, down from $2.7 million at the end of Q4 2023 [8] Business Line Data and Key Metrics Changes - The dairy renewable natural gas segment produced 60.3 million BTUs and generated $3.8 million in revenue [7] - The Indian biodiesel business generated $32.7 million in revenue, primarily from sales to three India Oil Marketing companies [7] - Selling, general and administrative expenses decreased to $8.9 million in Q1 2024 from $10.8 million in Q1 2023 [8] Market Data and Key Metrics Changes - The California Air Resources Board (CARB) is expected to adopt a 20-year mandate for rapid decarbonization of transportation, benefiting low carbon intensity renewable fuels [12] - The renewable natural gas market is anticipated to grow significantly as new dairy digesters are built and as CARB approves provisional pathway applications [11] Company Strategy and Development Direction - Aemetis plans to accelerate biogas digester development in 2024, expecting to close $60 million in new private financing [10] - The company is positioned to benefit from the Inflation Reduction Act 45Z production tax credits starting January 2025 [12] - Aemetis is developing a sustainable aviation fuel and renewable diesel plant in Riverbank, California, with significant supply contracts already signed [14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the renewable natural gas segment, anticipating significant revenue increases as new digesters come online [11] - The company is focused on expanding capacity, improving energy efficiency, and reducing carbon intensity across all business segments [18] - Management highlighted the importance of innovative pricing structures for sustainable aviation fuel to enhance cash flow and financing [64] Other Important Information - Aemetis has received $150 million in biodiesel sales allocations under a cost-plus contract structure in India, which is expected to positively impact EBITDA [16] - The company has completed construction of an on-site solar energy facility to reduce energy costs and carbon intensity [17] Q&A Session Summary Question: What is the probability of CARB adopting a higher step-down for emissions? - Management believes CARB will likely adopt a step-down greater than 5% due to increasing market rates and discussions with Wall Street [22] Question: How many dairies are expected to be operational by year-end 2024? - Management is tracking 18 dairies expected to be operational by the end of 2024, with the largest impact anticipated in 2025 [25] Question: What progress has been made on EB-5 financing? - Management reported raising approximately $40 million under the EB-5 program and is in the process of securing additional investors [28] Question: What is the expected ramp in LCFS credits? - Management expects to double LCFS credits revenue as early as July 1, pending approval from CARB [37] Question: How should CapEx be viewed for the Keyes plant and Riverbank projects? - CapEx for the Keyes plant will be back-loaded for the year, with minimal downtime expected during upgrades [61][62] Question: Will LCFS credits be sold on a regular basis? - Management confirmed that LCFS credits will be sold early in each quarter, with expectations of increased revenue from new projects [68]

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 March 31, 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 jurisdict ...

Exhibit 99.1 External Investor Relations Contact: Kirin Smith PCG Advisory Group (646) 863-6519 ksmith@pcgadvisory.com Company Investor Relations/ Media Contact: Todd Waltz (408) 213-0940 investors@aemetis.com Aemetis Reports First Quarter 2024 Financial Results CUPERTINO, Calif. – May 9, 2024 - 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 ...

The market expects Aemetis (AMTX) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended March 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report. On the other hand, if they miss, the ...