LanzaTech Global, Inc.

Listed Company

LNZACIK 0001843724NasdaqNon-AcceleratedSmaller ReportingIndustrial Organic ChemicalsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$55.84M

Net Income

$-48.95M

Total Assets

$100.21M

Equity

$-3.89M

Shares Out

10.09M

Op. Cash Flow

$-64.85M

Business

LanzaTech Global, Inc. transforms waste carbon into sustainable fuels, fabrics, packaging and nutrition by deploying a proprietary gas fermentation platform that converts industrial, municipal and agricultural waste gases into valuable products. Its main products and services include low‑carbon ethanol and derivatives (SAF, sustainable diesel, ethylene, polyethylene, PET, glycols, surfactants), protein co‑products for animal and fish feed, and technology licensing, microbe supply, engineering and research services. The company operates through technology licensing and co‑development models, strategic joint ventures and a minority stake in LanzaJet. It markets and distributes its platform and products globally via commercial plants, partner projects and licensing arrangements across Asia, Europe, India, Japan and other regions, serving industrial emitters and waste‑to‑product value chains.

Summary from filing dated 2025-04-15

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
Total revenues	56	50	63	37	—
Collaborative arrangements	822,000	3	2	−1	—
Related party transactions	93,000	520,000	172,000	−477,000	—
Research and development expense	53	77	68	−53	—
Depreciation expense	4	6	5	−5	—
Selling, general and administrative expense	47	50	50	−27	—
Total cost and operating expenses	135	159	169	−113	—
Loss from operations	−79	−109	−106	−76	−1
Interest income, net	1	3	5	8,000	—
Other income (expense), net	42	−18	−29	−3	—
Total other income (expense), net	43	−15	−25	−3	—
Loss from equity method investees, net	−13	−14	−3	2	—
Net loss	−49	−138	−134	−76	46,738
Changes in credit risk of fair value instruments	1	−1	0	—	—
Foreign currency translation adjustments	−1	124,000	−376,000	−1	—
Comprehensive loss	−49	−139	−134	−78	—
Net loss per common share - basic - basic (in usd per share)	−22.27	−69.71	−0.79	−12.37	—
Net loss per common share - diluted - diluted (in usd per share)	−22.27	−69.71	−0.79	−12.37	—
Weighted-average number of common shares outstanding - basic (in shares)	2	2	176	9	—
Weighted-average number of common shares outstanding - diluted (in shares)	2	2	176	9	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2025 2025-01-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Cash and cash equivalents	13	—	43	76	83
Held-to-maturity investment securities	0	—	12	45	0
Trade and other receivables, net of allowance	10	—	9	11	12
Contract assets, net of allowance	7	—	19	28	18
Other current assets	10	—	15	13	11
Total current assets	40	—	99	173	124
Property, plant and equipment, net	17	—	22	23	20
Right-of-use assets	14	—	27	18	7
Equity method investment	13	—	4	7	11
Equity security investment	15	—	15	15	15
Other non-current assets	751,000	—	7	6	750,000
Total assets	100	—	175	242	177
Accounts payable	11	—	5	4	7
Other accrued liabilities	10	—	9	7	5
Warrants	11,000	—	4	8	4
Fixed Maturity Consideration and current FPA Put Option liability	4	—	4	0	—
Contract liabilities	423,000	—	6	3	3
Accrued salaries and wages	2	—	2	5	7
Current lease liabilities	176,000	—	158,000	126,000	798,000
Total current liabilities	28	—	30	28	56
Non-current lease liabilities	16	—	31	20	7
Non-current contract liabilities	6	—	5	8	11
FPA Put Option liability	30	—	30	38	0
Brookfield SAFE liability	0	13	13	25	—
Brookfield Loan liability	11	—	0	—	—
Convertible Note	0	—	51	0	—
Other long-term liabilities	8,000	—	587,000	1	2
Total liabilities	91	—	161	127	125
Commitments and Contingencies (Note 18)	—	—	—	—	—
Convertible preferred stock, $0.0001 par value; 20,000,000 shares authorized as of December 31, 2025 and December 31, 2024; 20,000,000 and no shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively	2,000	—	0	—	—
Preferred stock - additional paid-in capital	13	—	0	—	—
Total mezzanine equity	13	—	0	0	481
Common stock, $0.0000001 par value, 258,000 shares authorized as of September 30, 2025 and December 31, 2024; 2,320,025 and 1,949,157 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively	23,000	—	19,000	19,000	1,000
Additional paid-in capital	1,013	—	982	944	25
Accumulated other comprehensive income	1	—	1	2	3
Accumulated deficit	−1,019	—	−970	−832	−456
Total shareholders equity/(deficit)	−4	—	13	114	−429
Total liabilities, mezzanine equity and shareholders' equity	100	—	175	242	177

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 expense	7	13	15	3	—
Gain on change in fair value of SAFE and warrant liabilities	−3	−18	—	—	—
Loss on change in fair value of the Brookfield Loan	5	0	—	—	—
Gain on change in fair value of the Amended Brookfield Loan	−1	0	—	—	—
Loss on Brookfield SAFE extinguishment	6	0	—	—	—
Loss on change in fair value of the FPA Put Option and the Fixed Maturity Consideration liabilities	0	24	—	—	—
Change in fair value of Convertible Note	−43	12	—	—	—
Gain on change in fair value of PIPE Warrant liability	−9	0	−14	2	—
Gain on partial lease termination	−60,000	0	—	—	—
Provisions for losses on trade and other receivables and contract assets, net of recoveries	2	961,000	700,000	0	—
Depreciation of property, plant and equipment	4	6	5	—	—
Amortization of discount on debt security investment	−34,000	−854,000	−1	0	—
Non-cash lease expense	2	2	2	2	—
Non-cash recognition of licensing revenue	−21	−12	−2	−2	—
Loss from disposal of property, plant and equipment	0	−25,000	0	−49,000	—
Unrealized Loss on net foreign exchange	610,000	−284,000	−182,000	—	—
Accounts receivable, net	−117,000	557,000	104,000	−9	—
Contract assets	11	9	−10	−6	—
Accrued interest on debt investment	−83,000	183,000	−266,000	0	—
Other assets	6	−2	−3	−5	—
Accounts payable and accrued salaries and wages	5	−2	−5	8	—
Contract liabilities	−375,000	311,000	95,000	−488,000	—
Operating lease liabilities	−2	641,000	−337,000	−2	—
Other liabilities	2	1	2	−1	—
Net cash used in operating activities	−65	−89	−97	−85	−510,017
Purchase of property, plant and equipment	−1	−5	−9	−11	—
Proceeds from disposal of property, plant and equipment	0	25,000	0	49,000	—
Purchase of debt securities	0	−27	−94	0	—
Proceeds from maturity of debt securities	12	61	50	0	—
Net cash provided by investing activities	11	28	−58	−11	−150
Proceeds from issuance of preferred stock	15	0	—	—	—
Issuance costs related to preferred stock	−2	0	—	—	—
Settlement of FPA	0	−10	0	—	—
Proceeds from exercise of options	0	300,000	3	0	—
Proceeds from issuance of Convertible Note, net	0	40	0	—	—
Repurchase of equity instruments of the Company	0	−48,000	−8	−649,000	—
Partial settlement of the Brookfield Loan	−13	0	—	—	—
Proceeds from PIPE Warrant	25	0	0	50	852,416
Net cash provided by financing activities	26	30	148	51	151
Effects of currency translation on cash, cash equivalents and restricted cash	−601,000	−52,000	−404,000	−178,000	—
Net decrease in cash, cash equivalents and restricted cash	−29	−31	−7	−336,728	343,399
Acquisition of property, plant and equipment under accounts payable	0	132,000	279,000	246,000	—
Right-of-use asset additions	0	10	13	4	—
Extinguishment of the Brookfield SAFE	13	0	—	—	—
Issuance of the Brookfield Loan	−19	0	—	—	—
Extinguishment of the Brookfield Loan	12	0	—	—	—
Issuance of the Amended Brookfield Loan	−12	0	—	—	—
Cashless issuance of equity for Convertible Notes	8	0	—	—	—
Non-cash change in lease liability on partial termination	13	0	—	—	—
Non-cash change in ROU assets on partial termination	−13	0	—	—	—
Non-cash partial reversal of FPA upon settlement	0	24	0	—	—
Third-party issuance costs for the Convertible Note	0	3	0	—	—

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