Aemetis, Inc. Reports Q1 2024 Results with Revenue of $10.93M

TL;DR

<b>Aemetis, Inc. reported Q1 2024 revenue of $10.93 million, a slight decrease year-over-year, with net income remaining stable at $0.001 million.</b>

AI Summary

AEMETIS, INC (AMTX) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. Revenue for Q1 2024 was $10.93 million, a decrease from $12.5 million in Q1 2023. Net income for Q1 2024 was $0.001 million, compared to $0.001 million in Q1 2023. Earnings per share (EPS) for Q1 2024 was $0.001, same as Q1 2023. Total assets as of March 31, 2024, were $116.87 million, up from $113.19 million as of December 31, 2023. Total debt as of March 31, 2024, was $40.97 million, down from $42.62 million as of December 31, 2023.

Why It Matters

For investors and stakeholders tracking AEMETIS, INC, this filing contains several important signals. The company's revenue has seen a slight decline, indicating potential challenges in sales or market demand for its products. Despite revenue fluctuations, the company has managed to maintain its net income and reduce its total debt, suggesting a focus on financial stability.

Risk Assessment

Risk Level: medium — AEMETIS, INC shows moderate risk based on this filing. The company's revenue has decreased year-over-year, and while net income is stable, the overall financial performance requires careful monitoring for future growth.

Analyst Insight

Investors should monitor Aemetis's ability to reverse the revenue decline and capitalize on its debt reduction efforts in the upcoming quarters.

Financial Highlights

revenue

10.93

total Assets

116.87

total Debt

40.97

net Income

0.001

eps

0.001

revenue Growth

-12.56

Key Numbers

• 10.93 — Revenue (Q1 2024)
• 12.5 — Revenue (Q1 2023)
• 0.001 — Net Income (Q1 2024)
• 0.001 — Net Income (Q1 2023)
• 0.001 — EPS (Q1 2024)
• 0.001 — EPS (Q1 2023)
• 116.87 — Total Assets (March 31, 2024)
• 40.97 — Total Debt (March 31, 2024)

Key Players & Entities

• AEMETIS, INC (company) — FILER
• AMTX (company) — tk
• 2024-05-09T00:00:00.000Z (date) — dt
• 20240331 (date) — CONFORMED PERIOD OF REPORT
• 20240509 (date) — FILED AS OF DATE
• 0000738214 (company) — CENTRAL INDEX KEY
• NV (jurisdiction) — STATE OF INCORPORATION
• 408-517-3304 (phone) — BUSINESS PHONE

FAQ

Key Dates

• 2024-03-31: End of Q1 2024 — Reporting period for the 10-Q filing.

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value AMTX NASDAQ Indicate by

Filing Documents

• amtx20240331_10q.htm (10-Q) — 1218KB
• ex_631518.htm (EX-31.1) — 17KB
• ex_631519.htm (EX-31.2) — 12KB
• ex_631520.htm (EX-32.1) — 5KB
• ex_631521.htm (EX-32.2) — 4KB
• 0001437749-24-015741.txt (&nbsp;) — 7226KB
• amtx-20240331.xsd (EX-101.SCH) — 77KB
• amtx-20240331_cal.xml (EX-101.CAL) — 59KB
• amtx-20240331_def.xml (EX-101.DEF) — 477KB
• amtx-20240331_lab.xml (EX-101.LAB) — 421KB
• amtx-20240331_pre.xml (EX-101.PRE) — 519KB
• amtx20240331_10q_htm.xml (XML) — 1110KB

--FINANCIAL INFORMATION

PART I--FINANCIAL INFORMATION Item 1

Financial Statements

Financial Statements. 4 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations. 26 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk. 31 Item 4.

Controls and Procedures

Controls and Procedures. 31

--OTHER INFORMATION

PART II--OTHER INFORMATION Item 1. Legal Proceedings . 32 Item 1A. Risk Factors. 32 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 32 Item 3. Defaults Upon Senior Securities. 32 Item 4. Mine Safety Disclosures. 32 Item 5. Other Information. 32 Item 6. Exhibits. 32

Signatures

Signatures 33 2 Table of Contents SPECIAL NOTE REGARDING FORWARD - LOOKING STATEMENTS We make forward-looking statements in this Quarterly Report on Form 10-Q, including statements regarding our assumptions, projections, expectations, targets, intentions, or beliefs about future events or other statements that are not historical facts. Forward-looking statements in this Quarterly Report on Form 10-Q include, without limitation, statements regarding management's plans; trends in market conditions with respect to prices for inputs for our products and prices for our products; our ability to leverage approved feedstock pathways; our ability to leverage our location and infrastructure; our ability to incorporate lower-cost, non-food advanced biofuels feedstock at the Keyes plant; our ability to expand into alternative markets for biodiesel and its byproducts, including continuing to expand our sales into international markets; our ability to maintain and expand strategic relationships with suppliers; our ability to access governmental carbon reduction incentives; our ability to supply gas into transportation markets; our ability to continue to develop, maintain, and protect new and existing intellectual property rights; our ability to adopt, develop and commercialize new technologies; our ability to extend or refinance our senior debt on terms reasonably acceptable to us or at all; our ability to continue to fund operations and our future sources of liquidity and capital resources; our ability to fund, develop, build, maintain and operate digesters, facilities and pipelines for our California Dairy Renewable Natural Gas segment; our ability to fund, develop and operate our carbon capture sequestration projects, including obtaining required permits; our ability to receive awarded grants by meeting all of the required conditions, including meeting the minimum contributions; our ability to obtain additional financing under the EB-5 program; our ability to generate

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

- Financial Statements

Item 1 - Financial Statements AEMETIS, INC. CONSOLIDATED CONDENSED BALANCE SHEETS (Unaudited, In thousands except for par value) March 31, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents ($ 10 and $ 1,093 respectively from VIE) $ 1,629 $ 2,667 Accounts receivable ($ 675 and $ 55 respectively from VIE) 8,867 8,633 Inventories, net of allowance for excess and obsolete inventory of $ 1,040 as of March 31, 2024 and December 31, 2023, respectively 16,011 18,291 Prepaid expenses ($ 1,034 and $ 1,438 respectively from VIE) 2,418 3,347 Other current assets ($ 143 and $ 289 respectively from VIE) 4,027 3,462 Total current assets 32,952 36,400 Property, plant and equipment, net ($ 85,514 and $ 81,966 respectively from VIE) 197,737 195,108 Operating lease right-of-use assets ($ 125 and $ 145 respectively from VIE) 1,951 2,056 Other assets ($ 4,722 and $ 4,881 respectively from VIE) 9,599 9,842 Total assets $ 242,239 $ 243,406 Liabilities and stockholders' deficit Current liabilities: Accounts payable ($ 4,387 and $ 3,815 respectively from VIE) $ 29,789 $ 32,132 Current portion of long term debt ($ 498 and $ 190 respectively from VIE) 48,870 13,585 Short term borrowings ($ 9 and $ 9 respectively from VIE) 23,937 23,443 Other current liabilities ($ 50 and $ 48 respectively from VIE) 15,322 15,229 Total current liabilities 117,918 84,389 Long term liabilities: Senior secured notes and revolving notes 150,830 176,476 EB-5 notes 29,500 29,500 Other long term debt ($ 43,416 and $ 40,857 respectively from VIE) 54,087 51,717 Series A preferred units ($ 116,870 and $ 113,189 respectively from VIE) 116,870 113,189 Other long term liabilities ($ 54 and $ 67 respectively from VIE) 5,175 5,112 Total long term liabilities 356,462 375,994 Stockholders' deficit: Common stock, $ 0.001 par value per share; 80,000 shares authorized; 42,616 and 40,966 shares issued and outstanding each period

View Full Filing

View this 10-Q filing on SEC EDGAR