Core Insights - Aemetis, Inc. reported a revenue of $59.2 million for Q3 2025, an increase of $7 million compared to Q2 2025, driven by orders from India Oil Marketing Companies and improved ethanol prices and volumes [2][4][6]. Financial Performance - Total revenues for Q3 2025 were $59.2 million, down from $81.4 million in Q3 2024, with the Keyes plant operating at a lower grind rate to maximize margins [7]. - The company experienced a gross loss of $58 thousand in Q3 2025, compared to a gross profit of $3.9 million in Q3 2024 [8]. - Operating loss for Q3 2025 was $8.5 million, worsening from an operating loss of $3.9 million in the same period last year [8]. - Net loss for Q3 2025 was $23.7 million, compared to a net loss of $17.9 million in Q3 2024 [10]. Segment Performance - The Dairy Natural Gas segment produced 114,000 MMBtu from twelve operating digesters, generating $4 million in revenue [6][7]. - The India Biodiesel business reported $14.5 million in revenue, primarily from new allocations converting into sales to India Oil Marketing Companies [7]. Cash Flow and Investments - Cash increased to $5.6 million at the end of Q3 2025, up from $1.6 million in Q2 2025, supporting project execution in India [6]. - The company signed contracts worth $57 million for new equipment purchase and installation for the Mechanical Vapor Recompression (MVR) and dairy RNG projects [4]. Future Outlook - Aemetis plans to sell $20 million of tax credits following the completion of a multi-dairy biogas digester in September 2025 [4]. - The company is targeting an IPO for its India subsidiary in 2026 [6].