Montauk energy(MNTK) - 2024 Q4 - Annual Results

Financial Performance - Total revenues for 2024 were $175.7 million, flat compared to $174.9 million in 2023[4] - Net income for 2024 was $9.7 million, a decrease of 34.9% year over year[5] - Non-GAAP Adjusted EBITDA for 2024 was $42.6 million, down 8.3% from the previous year[4] - Operating income decreased to $16,123 in 2024 from $23,640 in 2023, a decline of 31.8%[19] - Net income for 2024 was $9,734, down 35% from $14,948 in 2023[19] - Adjusted EBITDA for 2024 was $42,616, down from $46,451 in 2023, a decrease of 8.0%[24] Revenue Sources - RNG revenues for 2025 are expected to range between $150 million and $170 million[9] - Renewable Electricity revenues for 2025 are projected to range between $17.0 million and $18.0 million[9] - Total operating revenues for 2024 increased to $175,736, up from $174,904 in 2023, representing a growth of 0.47%[19] Production and Sales - RNG production in 2024 was 5.6 million MMBtu, an increase of 1.6% compared to 5.5 million MMBtu in 2023[6] - RINs sold in 2024 totaled 36.6 million, a decrease of 8.3 million or 18.5% year over year[4] - Unsold RINs as of December 31, 2024, were 6.8 million, an increase of 6.7 million year over year[4] - Average realized RIN price in 2024 was $3.28, up approximately 21.0% from $2.71 in 2023[4] Expenses and Assets - Operating and maintenance expenses for RNG facilities in 2024 were $53.4 million, an increase of 11.5% compared to $47.9 million in 2023[4] - Total current assets decreased to $57,224 in 2024 from $90,175 in 2023, a reduction of 36.5%[17] - Cash and cash equivalents at the end of 2024 were $45,621, down from $73,811 in 2023, a decrease of 38.1%[21] - Capital expenditures for 2024 were $62,323, slightly lower than $63,091 in 2023[21] Liabilities and Debt - Total liabilities decreased to $91,598 in 2024 from $99,999 in 2023, a decline of 8.4%[17] - The current portion of long-term debt increased to $11,853 in 2024 from $7,886 in 2023, an increase of 50.5%[17] Shareholder Information - The company reported a total of 142,279,079 basic weighted-average common shares outstanding for 2024, compared to 141,727,905 in 2023[19]