Aemetis Q3 Revenue Up, But Net Loss Widens

TL;DR

Aemetis Q3 revenue up to $45.9M, but net loss hit $4.7M. Cash low at $2.2M.

AI Summary

Aemetis, Inc. reported its Q3 2024 results, showing total revenues of $45.9 million for the nine months ended September 30, 2024, compared to $40.9 million in the prior year period. The company's net loss widened to $4.7 million from $3.8 million year-over-year. Cash and cash equivalents stood at $2.2 million as of September 30, 2024.

Why It Matters

This filing provides insight into Aemetis' financial performance, indicating revenue growth but also an increasing net loss, which could impact investor confidence and future funding.

Risk Assessment

Risk Level: medium — The company shows revenue growth but a widening net loss and low cash reserves, indicating financial strain.

Key Numbers

• $45.9B — Revenue (9 months ended 9/30/24) (Represents an increase from the prior year period.)
• $4.7M — Net Loss (9 months ended 9/30/24) (Wider loss compared to the prior year period.)
• $2.2M — Cash and Cash Equivalents (9/30/24) (Indicates limited liquidity.)

Key Players & Entities

• AEMETIS, INC (company) — Filer
• 20240930 (date) — Reporting Period End Date
• $45,880,000 (dollar_amount) — Revenue for nine months ended September 30, 2024
• $40,857,000 (dollar_amount) — Revenue for nine months ended September 30, 2023
• $4,725,000 (dollar_amount) — Net loss for nine months ended September 30, 2024
• $3,815,000 (dollar_amount) — Net loss for nine months ended September 30, 2023
• $2,160,000 (dollar_amount) — Cash and cash equivalents as of September 30, 2024

FAQ

Key Financial Figures

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

Filing Documents

• amtx20240930_10q.htm (10-Q) — 1642KB
• ex_745765.htm (EX-10.1) — 123KB
• ex_710451.htm (EX-31.1) — 17KB
• ex_710452.htm (EX-31.2) — 12KB
• ex_710453.htm (EX-32.1) — 4KB
• ex_710454.htm (EX-32.2) — 4KB
• 0001437749-24-034514.txt ( ) — 8679KB
• amtx-20240930.xsd (EX-101.SCH) — 79KB
• amtx-20240930_cal.xml (EX-101.CAL) — 60KB
• amtx-20240930_def.xml (EX-101.DEF) — 503KB
• amtx-20240930_lab.xml (EX-101.LAB) — 429KB
• amtx-20240930_pre.xml (EX-101.PRE) — 549KB
• amtx20240930_10q_htm.xml (XML) — 1530KB

--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. 22 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk. 27 Item 4.

Controls and Procedures

Controls and Procedures. 27

--OTHER INFORMATION

PART II--OTHER INFORMATION Item 1. Legal Proceedings . 28 Item 1A. Risk Factors. 28 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 28 Item 3. Defaults Upon Senior Securities. 28 Item 4. Mine Safety Disclosures. 28 Item 5. Other Information. 28 Item 6. Exhibits. 28

Signatures

Signatures 29 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 (In thousands except for par value) September 30, 2024 December 31, 2023 Unaudited Assets Current assets: Cash and cash equivalents ($ 0 and $ 1,093 respectively from VIE) $ 296 $ 2,667 Accounts receivable ($ 60 and $ 55 respectively from VIE) 8,027 8,633 Inventories 19,792 18,291 Prepaid expenses ($ 164 and $ 1,438 respectively from VIE) 1,781 3,347 Other current assets ($ 2 and $ 289 respectively from VIE) 5,004 3,462 Total current assets 34,900 36,400 Property, plant and equipment, net ($ 91,468 and $ 81,966 respectively from VIE) 195,939 195,108 Operating lease right-of-use assets ($ 630 and $ 145 respectively from VIE) 2,333 2,056 Other assets ($ 7,024 and $ 4,881 respectively from VIE) 14,253 9,842 Total assets $ 247,425 $ 243,406 Liabilities and stockholders' deficit Current liabilities: Accounts payable ($ 4,725 and $ 3,815 respectively from VIE) $ 37,254 $ 32,132 Current portion of long term debt ($ 730 and $ 190 respectively from VIE) 55,797 13,585 Short term borrowings ($ 0 and $ 9 respectively from VIE) 21,418 23,443 Other current liabilities ($ 40 and $ 48 respectively from VIE) 17,773 15,229 Total current liabilities 132,242 84,389 Long term liabilities: Senior secured notes and revolving notes 164,408 176,476 EB-5 notes 26,000 29,500 Other long term debt ($ 45,880 and $ 40,857 , respectively from VIE) 54,583 51,717 Series A preferred units ($ 123,869 and $ 113,189 respectively from VIE) 123,869 113,189 Other long term liabilities ($ 516 and $ 67 respectively from VIE) 5,232 5,112 Total long term liabilities 374,092 375,994 Stockholders' deficit: Common stock, $ 0.001 par value; 80,000 authorized; 47,817 and 40,966 shares issued and outstanding each period, respectively 48 41 Additional paid-in capital 293,611 264,058 Accumulated deficit ( 546,745 ) ( 475,405 ) Accumulated other co

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View this 10-Q filing on SEC EDGAR