Aemetis(US:AMTX)2026-03-12 12:30Financial Performance - Revenues for the full year of 2025 were $197.6 million, with total income including production tax credits reaching $208.0 million[3]. - Revenues for Q4 2025 were $43,307 million, a decrease of 8.8% from $47,004 million in Q4 2024[31]. - The company reported a net loss of $5.3 million for Q4 2025, an improvement from a net loss of $16.2 million in Q4 2024[17]. - Net loss for Q4 2025 was $5,330 million, compared to a net loss of $16,197 million in Q4 2024, showing an improvement[31]. - Adjusted EBITDA for Q4 2025 was $1,872 million, an increase from a loss of $9,612 million in Q4 2024[35]. - The company reported a total stockholders' deficit of $306,831 million in 2025, compared to $263,928 million in 2024[33]. Production and Revenue Growth - Dairy RNG production increased by 61% year over year in Q4 2025, contributing to a net income of $12.2 million for the segment[4][7]. - The biogas segment achieved a net income of $6.9 million for the year, with annual revenues and production tax credits increasing by 53%[7]. - The ethanol plant generated $158.3 million in revenue during 2025, with an expected annual cash flow increase of approximately $32 million from efficiency upgrades[9][13]. - Ethanol gallons sold in Q4 2025 were 14.3 million, down from 15.7 million in Q4 2024, reflecting a 8.9% decrease[37]. - RINs sold increased to 1,287 thousand in Q4 2025 from 987 thousand in Q4 2024, a growth of 30.4%[37]. Expenses and Liabilities - Selling, general and administrative expenses decreased to $10.2 million in Q4 2025, down from $11.4 million in Q4 2024[16]. - Total current assets decreased to $26,872 million in 2025 from $44,696 million in 2024[33]. - Total current liabilities increased significantly to $371,258 million in 2025 from $143,968 million in 2024[33]. Capital Expenditures and Agreements - Capital expenditures for carbon intensity reduction and biogas production capacity expansion were $26 million in 2025, a 28% increase from the previous year[7]. - Aemetis signed a $27 million agreement to construct H2S and compression units for 15 new dairy digesters, supporting future growth[8]. Regulatory and Market Developments - The California Air Resource Board approved 7 new Low Carbon Fuel Standard pathways, enhancing the carbon intensity score for the Renewable Natural Gas business[8]. - Average sales price per gallon of ethanol increased to $2.01 in Q4 2025 from $1.93 in Q4 2024, a rise of 4.2%[37]. - Average delivered cost of corn per bushel decreased slightly to $5.90 in Q4 2025 from $6.08 in Q4 2024[37].