Financial 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 company reported a comprehensive income of $2,699,000 for the three months ended September 30, 2025, compared to a comprehensive loss of $57,479,000 for the same period in 2024[26] - 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] 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, were $41,684,000, down from $60,548,000 for the same period in 2024, 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 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 $19,627,000 as of September 30, 2025, from $43,499,000 as of December 31, 2024, representing a decline of 54.9%[23] - The company had cash flows used in operating activities of $58,692,000 for the nine months ended September 30, 2025, compared to $69,384,000 for the same period in 2024, indicating a reduction of 15.4%[30] Assets and Liabilities - Total assets decreased to $99,290,000 as of September 30, 2025, from $174,683,000 as of December 31, 2024, a reduction of 43.1%[23] - Total current liabilities decreased to $24,836,000 as of September 30, 2025, from $30,447,000 as of December 31, 2024, a decrease of 18.5%[23] Other Financial Metrics - The company issued preferred stock, generating proceeds of $15,050,000 during the nine months ended September 30, 2025[30] - The weighted-average number of common shares outstanding for the three months ended September 30, 2025, was 2,320,018, reflecting a retroactive adjustment due to a 1-for-100 reverse stock split[26] - Loss from equity method investees decreased to $152 thousand in Q3 2025 from $5.535 million in Q3 2024[34] - Interest income, net improved to $(311) thousand in Q3 2025 from $(791) thousand in Q3 2024[34] - Change in fair value of the Convertible Note resulted in a loss of $(42.980) million for the nine months ended September 30, 2025, compared to a gain of $21.572 million in 2024[34] - The company reported a loss on Brookfield SAFE extinguishment of $6.216 million for the nine months ended September 30, 2025[34] - Change in fair value of PIPE Warrant resulted in a loss of $(12.200) million in Q3 2025[34] Strategic Developments - 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] - The company is focusing on improving financial metrics and reducing losses in future quarters[34]
AMCI ACQUISITION(AMCI) - 2025 Q3 - Quarterly Results