Aemetis(US:AMTX)2025-11-06 13:30Revenue Performance - Revenue for Q3 2025 was $59.2 million, an increase of $7 million from Q2 2025, driven by orders from India Oil Marketing Companies and stronger ethanol prices[2]. - Total revenues for the first nine months of 2025 were $154.3 million, down from $220.6 million in the same period of 2024, primarily due to reductions in biodiesel contracts in India[8]. Profit and Loss - Gross loss for Q3 2025 was $58 thousand, compared to a gross profit of $3.9 million in Q3 2024[5]. - Net loss for Q3 2025 was $23.7 million, compared to a net loss of $17.9 million in Q3 2024[7]. - Operating loss for the first nine months of 2025 was $34.7 million, compared to $26.9 million for the same period in 2024[9]. - Net loss for the three months ended September 30, 2025, was $23,747 thousand, compared to a net loss of $17,935 thousand for the same period in 2024, representing an increase in loss of 32.5%[23]. - Adjusted EBITDA for the nine months ended September 30, 2025, was $(21,469) thousand, compared to $(9,197) thousand for the same period in 2024, indicating a worsening performance[23]. Cash and Assets - Cash increased to $5.6 million at the end of Q3 2025, up from $900 thousand at the end of 2024, supporting project execution in India[7]. - Total current assets decreased from $44,696 million in December 2024 to $15,554 million in September 2025, a decline of approximately 65.2%[21]. - Total current liabilities surged from $143,968 million in December 2024 to $343,365 million in September 2025, an increase of approximately 138%[21]. - The total stockholders' deficit increased from $(263,928) million in December 2024 to $(304,852) million in September 2025, reflecting a deterioration of approximately 15.5%[21]. Production and Sales - The Dairy Renewable Natural Gas segment produced 114,000 MMBtu from twelve operating digesters, generating $4 million in revenue[4]. - Ethanol gallons sold decreased from 15.5 million in Q3 2024 to 14.7 million in Q3 2025, a decline of 5.2%[25]. - Renewable Natural Gas MMBtu sold increased from 86.0 thousand in Q3 2024 to 114.0 thousand in Q3 2025, an increase of 32.6%[25]. - RINs sold increased from 935.3 thousand in Q3 2024 to 1,020.4 thousand in Q3 2025, an increase of 9.1%[25]. Costs and Pricing - Average sales price per gallon of ethanol increased from $2.12 in Q3 2024 to $2.13 in Q3 2025, a slight increase of 0.5%[25]. - The average delivered cost per bushel of corn decreased from $6.07 in Q3 2024 to $5.95 in Q3 2025, a reduction of 1.97%[25]. Future Plans - Aemetis plans to sell $20 million of Section 45Z and Section 48 tax credits following the completion of a multi-dairy biogas digester in September 2025[2]. - Aemetis is developing a sustainable aviation fuel and renewable diesel fuel biorefinery in California to produce low carbon intensity renewable jet and diesel fuel[12]. Interest Expense - Interest expense for the first nine months of 2025 was $39 million, up from $34 million in the same period of 2024[10].