LanzaTech (US:LNZA)2025-11-19 22:12Financial Performance - Total revenue for Q3 2025 was $9.3 million, a decrease of 6.1% from $9.9 million in Q3 2024[7] - Net income for Q3 2025 was $2.9 million, a significant improvement from a net loss of $57.4 million in Q3 2024, driven by a $38.1 million non-cash gain on financial instruments[10] - Adjusted EBITDA loss was $13.5 million in Q3 2025, an improvement from a loss of $27.1 million in the same period last year[11] - The net loss for the nine months ended September 30, 2025, was $48,867,000, an improvement from a net loss of $110,738,000 for the same period in 2024[30] - Adjusted EBITDA for the nine months ended September 30, 2025, was $(73.707) million, compared to $(66.981) million for the same period in 2024[34] Revenue Breakdown - Engineering and other services revenue was $4.0 million in Q3 2025, down from $4.9 million in Q3 2024, due to project completions[7] - CarbonSmart revenue increased to $3.0 million in Q3 2025 from $2.2 million in Q3 2024, attributed to higher sales volume[14] - The company generated $2,972,000 in CarbonSmart product sales for the three months ended September 30, 2025, an increase of 34.6% from $2,209,000 in the same period of 2024[26] Expenses and Costs - Cost of revenue decreased by $1.2 million, or 15%, in Q3 2025 compared to Q3 2024, primarily due to reduced engineering and service costs[8] - Operating expenses were $18.0 million in Q3 2025, down from $34.8 million in Q3 2024, reflecting a $3.0 million decrease in personnel and contractor expenses[9] - Research and development expenses for the nine months ended September 30, 2025, totaled $41,684,000, compared to $60,548,000 for the same period in 2024, reflecting a decrease of 31.2%[26] - Stock-based compensation expense decreased to $1.104 million in Q3 2025 from $3.221 million in Q3 2024[34] - Depreciation expense for the nine months ended September 30, 2025, was $2.860 million, down from $4.289 million in the same period of 2024[34] Cash and Investments - As of September 30, 2025, total cash and investments were $23.5 million, down from $39.6 million as of June 30, 2025, reflecting cash usage for operations[12] - Cash and cash equivalents decreased to $23,502,000 as of September 30, 2025, down from $60,967,000 at the end of the same period in 2024, representing a decline of 61.5%[30] - Total current assets as of September 30, 2025, were $50,629,000, significantly lower than $99,334,000 as of December 31, 2024, indicating a decrease of 48.9%[23] Liabilities - The total liabilities decreased to $91,098,000 as of September 30, 2025, from $161,236,000 as of December 31, 2024, a reduction of 43.4%[23] Operational Losses - The company reported a loss from operations of $15,657,000 for the three months ended September 30, 2025, compared to a loss of $32,957,000 for the same period in 2024[26] - Loss from equity method investees decreased to $152 thousand in Q3 2025 from $5.535 million in Q3 2024[34] Future Outlook - The company is focusing on improving its financial metrics and reducing losses in future quarters[34] - LanzaJet's ethanol-to-jet plant began full operations in November 2025, marking a significant milestone in sustainable aviation fuel production[6] - LanzaTech was awarded a €40 million grant from the EU Innovation Fund for a CCUS facility in Norway, expected to produce 23.5 kt of ethanol annually[6]