Montauk energy(MNTK) - 2025 Q3 - Quarterly Results

Financial Performance - Total revenues for Q3 2025 were $45.3 million, a decrease of $20.6 million (31.3%) compared to $65.9 million in Q3 2024[5] - Operating income in Q3 2025 was $4.4 million, a decrease of $18.3 million (80.4%) compared to $22.7 million in Q3 2024[5] - Net income for Q3 2025 was $5.2 million, a decrease of $11.8 million (69.5%) compared to $17.0 million in Q3 2024[5] - Total operating revenues for Q3 2025 were $45,258, a decrease of 31.4% from $65,917 in Q3 2024[19] - Operating income for Q3 2025 was $4,448, down 80.4% from $22,708 in Q3 2024[19] - Net income for Q3 2025 was $5,205, compared to $17,048 in Q3 2024, reflecting a decline of 69.5%[19] - Non-GAAP Adjusted EBITDA for Q3 2025 was $12.8 million, a decrease of 56.4% year-over-year[7] - Adjusted EBITDA for the nine months ended September 30, 2025, was $26,643, compared to $45,863 for the same period in 2024, a decrease of 42%[23] Production and Sales - RNG production in Q3 2025 was approximately 1.4 million MMBtu, an increase of 3.8% compared to Q3 2024[7] - RINs sold in Q3 2025 totaled 12.4 million, a decrease of 3.3 million (21.2%) year-over-year[7] Guidance and Expectations - Full year RNG revenues are expected to range between $150 million and $170 million, unchanged from previous guidance[9] - Full year RNG production volumes are expected to range between 5.8 million and 6.0 million MMBtu, unchanged from previous guidance[9] - REG revenues are expected to range between $17 million and $18 million, unchanged from previous guidance[9] Assets and Liabilities - Total current assets decreased to $17,969 as of September 30, 2025, from $57,224 as of December 31, 2024[17] - Total liabilities increased to $122,580 as of September 30, 2025, from $91,598 as of December 31, 2024[17] - Cash and cash equivalents at the end of Q3 2025 were $6,766, down from $45,621 at the end of 2024[17] Capital Expenditures and Cash Flow - Capital expenditures for the nine months ended September 30, 2025, were $75,106, up from $53,334 in 2024[21] - The company reported a net cash provided by operating activities of $29,997 for the nine months ended September 30, 2025, down from $43,071 in 2024[21] Share Information - The weighted-average common shares outstanding for Q3 2025 were 143,126,354, compared to 142,410,940 in Q3 2024[19] Price Information - Average realized RIN price in Q3 2025 was $2.29, a decrease of approximately 31.4% from $3.34 in Q3 2024[5]