AEMETIS, INC

Listed Company

AMTXCIK 0000738214NasdaqAcceleratedSmaller ReportingIndustrial Organic ChemicalsNevadaFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-77.00M

Total Assets

$259.84M

Equity

$-306.83M

Shares Out

66.63M

Op. Cash Flow

$3.26M

Business

AEMETIS, INC is an international renewable natural gas and renewable fuels company that operates, acquires, develops, and commercializes technologies to produce low and negative carbon intensity fuels from agricultural products and waste. The company produces ethanol and animal feed co‑products, dairy renewable natural gas (RNG), biodiesel and refined glycerin, sells commercial CO2, and develops sustainable aviation fuel, renewable diesel and carbon capture projects. Its key business segments are California Ethanol, California Dairy RNG, India Biodiesel and development projects at the Riverbank complex. Aemetis markets products into California and Indian fuel, agricultural and industrial channels, injects RNG into utility pipelines, and sells environmental credits.

Summary from filing dated 2025-03-14

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	198	268	187	257	212
Production tax credits	10	0	—	—	—
Cost of goods sold	209	268	185	262	204
Gross loss	−768,000	−580,000	2	−6	8
Selling, general and administrative expenses	36	40	39	29	24
Operating loss	−37	−40	−37	−34	−16
Interest rate expense	46	40	33	21	20
Debt related fees and amortization expense	7	6	7	7	4
Accretion and other expenses of Series A preferred units	8	13	25	10	8
Other income	−3	−1	−2	−14	809,000
Loss before income taxes	−96	−98	−100	−107	−47
Income tax benefit	−19	−11	−54	1	−128,000
Net loss	−77	−88	−46	−108	−47
Foreign currency translation loss	−990,000	−695,000	−219,000	−1	−236,000
Comprehensive loss	−78	−88	−47	−109	−47
Basic (in dollars per share)	−1.28	−1.91	−1.22	−3.12	−1.54
Diluted (in dollars per share)	−1.28	−1.91	−1.22	−3.12	−1.54
Basic (in shares)	60	46	38	35	31
Diluted (in shares)	60	46	38	35	31

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	5	898,000	3	4	8
Accounts receivable	484,000	2	9	1	—
Inventories	12	25	18	5	5
Prepaid expenses	2	2	3	4	6
Tax credit sale receivable	0	12	0	—	—
Other current assets	8	2	3	4	644,000
Total current assets	27	45	36	18	21
Property, plant and equipment, net	220	199	195	—	—
Operating lease right-of-use assets	2	2	2	2	2
Other assets	11	13	10	6	3
Total assets	260	259	243	207	161
Accounts payable	23	33	32	26	16
Current portion of long term debt	279	64	14	12	8
Short term borrowings	39	27	23	37	15
Other current liabilities	30	20	15	8	6
Total current liabilities	371	144	84	88	65
Senior secured notes and revolving notes	0	170	176	156	121
EB-5 notes	16	22	30	30	33
Other long term debt	48	56	52	12	12
Series A preferred units	127	127	113	116	45
Other long term liabilities	5	5	5	5	2
Total long term liabilities	195	379	376	321	216
Common stock, $0.001 par value; 80,000 authorized; 66,189 and 51,139 shares issued and outstanding each period, respectively	66,000	51,000	41,000	36,000	33,000
Additional paid-in capital	340	305	264	233	205
Accumulated deficit	−640	−563	−475	−429	−321
Accumulated other comprehensive loss	−7	−6	−6	−5	−4
Total stockholders' deficit	−307	−264	−217	−202	−120
Total liabilities and stockholders' deficit	260	259	243	207	161

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Share-based compensation	6	8	8	6	4
Stock issued for services	200,000	0	1	2	2
Depreciation	10	8	7	6	5
Bad debt expense	385,000	0	—	0	144,000
Intangibles and other amortization expense	46,000	46,000	72,000	46,000	46,000
Debt related fees and amortization expense	7	6	7	7	4
Gain (Loss) on asset disposals	−4,000	4	0	—	—
Gain on debt/liability extinguishment	−1	−162,000	0	—	—
Loss on impairment of intangibles	43,000	0	—	—	—
Accounts receivable	1	7	−7	294,000	94,000
Inventories	13	−8	−14	360,000	−2
Prepaid expenses	276,000	2	2	2	−5
Tax credit sale receivable	12	−12	0	—	—
Other assets	−5	−3	−2	−4	2
Accounts payable	−8	−1	14	2	−5
Accrued interest expense and fees, net of interest paid	31	28	24	16	14
Other liabilities	5	3	−2	−10	729,000
Net cash provided by (used in) operating activities	3	−33	14	−23	−21
Capital expenditures	−26	−20	−33	−39	−27
Grant proceeds received for capital expenditures	411,000	6	9	8	4
Net cash used in investing activities	−26	−14	−24	−31	−23
Proceeds from borrowings	45	19	75	69	0
Repayments of borrowings	−37	−5	−56	−26	−56
Lender debt renewal and waiver fee payments	−1	−1	−2	−1	—
Payments on Series A preferred financing	−8	0	−30	0	−300,000
Payments on finance leases	−168,000	−179,000	−428,000	−481,000	−505,000
Proceeds from sales of common stock	28	32	22	12	104
Proceeds from the exercise of stock options	257,000	36,000	133,000	206,000	1
Net cash provided by financing activities	26	45	9	54	51
Effect of exchange rate changes on cash and cash equivalents and restricted cash	−26,000	12,000	49,000	−213,000	−4,000
Net change in cash and cash equivalents and restricted cash for period	4	−2	−719,000	−752,000	7
Cash paid for interest	14	9	10	20	6
Income taxes paid	626,000	2	—	—	—
Settlement of Accounts Payable via issuance of common stock	45,000	265,000	—	—	—
Subordinated debt extension fees added to debt	1	680,000	680,000	680,000	680,000
Fair value of warrants issued to subordinated debt holders	740,000	916,000	—	—	—
Lender debt extension, waiver, and other fees added to debt	2	695,000	0	583,000	608,000
Cumulative capital expenditures in accounts payable and accruals	8	11	8	15	8
Unpaid capital expenditures in construction financing	3	0	0	290,000	55,000

Filings

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