LanzaTech (US:LNZA) Newsfilterยท2025-04-15 20:15Financial Performance - LanzaTech reported total revenue of $12.0 million for the fourth quarter of 2024, down from $20.5 million in the same period of 2023, and full-year revenue of $49.6 million compared to $62.6 million in 2023, primarily due to project completions and timing delays in large projects [4][5] - The cost of revenue for the fourth quarter and full year of 2024 was $5.6 million and $26.0 million, respectively, compared to $12.0 million and $45.0 million for the same periods in 2023, resulting in a gross margin of 54% for Q4 2024 [6] - Operating expenses increased to $33.5 million for the fourth quarter and $132.6 million for the full year of 2024, compared to $27.1 million and $124.0 million in 2023, driven by project-related expenses [7] Net Loss and Adjusted EBITDA - The net loss for the fourth quarter of 2024 was $27.0 million, compared to a loss of $18.7 million in Q4 2023, with a full-year net loss of $137.7 million versus $134.1 million in 2023, attributed to non-cash expenses and reduced revenue [8] - Adjusted EBITDA losses were $21.2 million for Q4 2024 and $88.2 million for the full year, compared to losses of $19.6 million and $80.1 million in 2023, reflecting similar factors affecting revenue [9] Balance Sheet and Liquidity - As of December 31, 2024, LanzaTech had $58.1 million in total cash, restricted cash, and investments, down from $89.1 million at the end of Q3 2024 [10] - Total assets decreased to $174.7 million in 2024 from $241.6 million in 2023, with total liabilities increasing to $161.2 million from $127.2 million [17] Revenue Breakdown - Revenue from Joint Development Agreement (JDA) and Contract Research for Q4 2024 was $1.7 million, down from $4.2 million in Q4 2023, while CarbonSmart revenue increased to $3.9 million in Q4 2024 from $2.1 million in Q4 2023, driven by direct fuel sales [12][12] Strategic Focus - The company is shifting its operational focus from research and development to global deployment, aiming to enhance its cost structure and evaluate liquidity-enhancing initiatives [5][6]