What is the revenue and EPS growth rate for Aemetis year over year?

What is the market's earnings forecast for Aemetis next quarter?

What were the key takeaways from Aemetis’s earnings call?

What were the key takeaways from Aemetis's earnings call?

What is Aemetis's gross profit margin?

What does Aemetis do and what are its main business segments?

What is Aemetis's latest dividend and current dividend yield?

What factors drove the changes in Aemetis's revenue and profit?

- **Financial Recovery**: Q4 2025 net loss narrowed to $5.3M (from $16.2M), driven by $10M in RNG/ethanol tax credits
- **RNG Growth Engine**: RNG segment generated $12.2M net income in Q4 2025, with 61% YoY production growth
- **$32M Ethanol Boost**: MVR upgrade to cut natural gas costs by 80%, adding $3M/month in 45Z credits
- **India IPO Play**: 80M gallon biodiesel plant to expand into biogas and sustainable aviation fuel
- **Credit Price Surge**: LCFS credits up 75% to $70/MMBtu, 45Z monetization ramping from $5M in Q4 2025

**【CFO Financial Overview】**
- Q4 2025 revenue + tax credits: $53.7M (vs. $47M in Q4 2024)
- Gross profit: $7.7M (vs. -$2M loss in Q4 2024)
- Operating loss: $2.5M (vs. $13.5M in Q4 2024)
- Net loss: $5.3M (vs. $16.2M in Q4 2024)
- Full year 2025 revenue + tax credits: $208M (vs. $268M in 2024)
- Ethanol/RNG production tax credits: $10M in Q4 2025

**【CEO Key Takeaways】**
1. **Dairy RNG Milestone**: 
   - 61% YoY production growth in Q4 2025
   - Q4 2025 RNG segment net income: $12.2M
   - 2025 RNG production: 405,000 MMBtu (12 digesters)
   - 2026 expansion: 15 new digesters (total 27)
2. **Ethanol Plant Upgrade**: 
   - MVR system completion in Q3 2026
   - Expected annual cash flow boost: $32M
   - Natural gas consumption reduction: 80%
3. **Credit Growth Drivers**: 
   - LCFS credit price increase: $40 → $70 in 9 months
   - 45Z production tax credit monetization: $5M in Q4 2025
   - RNG-to-ethanol integration potential: $7/gallon value

**【Q&A Highlights】**
1. **Capital Allocation**: 
   - MVR system: $40M total (half already spent)
   - RNG digesters: $70M for 15 new units
   - Fully financed via 20-year debt
2. **Ethanol Margins**: 
   - Pre-MVR: $12M/year from LCFS credits
   - Post-MVR: $3M/month from 45Z + MVR savings
   - LCFS credit outlook: $100+ in 2026
3. **India Expansion**: 
   - Biodiesel plant: 80M gallons capacity
   - IPO plans: Biogas, sustainable aviation fuel
   - Policy tailwinds: 5% biodiesel mandate growth
4. **Policy Impact**: 
   - 45Z implementation: DOE GREET model pending
   - E15 adoption: 600M gallons new market in CA
   - Iran/Russia oil supply disruption


Aemetis, Inc. (AMTX) Q4 2025 Earnings Call Transcript

- **Revenue Growth**: Q3 2025 revenue up 12% YoY to $59.2M, driven by RNG expansion and India biofuels.
- **Tax Credit Windfall**: $40M+ 45Z PTCs and $83M ITCs sold, with DOE updates poised to double 2026 credits.
- **Ethanol Expansion**: $20M MVR system to cut natural gas use by 80%, adding $32M annual cash flow.
- **India IPO**: 20-25% stake sale targeting $100-200M valuation, diversifying growth into renewable diesel and SAF.

**【CFO Financial Overview】**
- Q3 2025 revenue: $59.2 million, up $7 million from Q2, driven by biodiesel orders in India and ethanol production in California.
- Operating loss improved sequentially; SG&A expenses remained stable at $13 million.
- Cash position: $5.6 million at quarter-end, with $4.1 million invested in carbon intensity reduction and RNG expansion.
- Future outlook: $14 million in Q4 from LCFS credits, India biofuels, and federal tax incentives.

**【CEO Strategic Updates】**
- **Dairy RNG Expansion**: 30% production capacity increase in Q3, targeting 500,000 MMBtu annual run rate by end-2025.
- **Ethanol Efficiency**: $20M MVR system to reduce natural gas use by 80%, adding $32M annual cash flow from Q2 2026.
- **India Growth**: Resumed biodiesel deliveries to OMCs; targeting IPO in early 2026 with new CFO appointment.
- **Federal Tax Credits**: $83M Section 48 ITCs sold; $10M 45Z PTCs in pipeline for Q4.

**【Q&A Highlights】**
- **Ethanol Demand**: California E15 adoption could boost demand by 600M gallons/year, supported by $0.20/gallon price advantage.
- **Tax Credit Sales**: $40M+ 45Z PTCs expected in 2026, driven by DOE carbon intensity updates.
- **India IPO**: 20-25% stake sale targeting $100-200M valuation, with 75% retained ownership.
- **Debt Refinancing**: 45Z PTCs and ITCs to fund $118M debt refinancing by mid-2026.

Aemetis, Inc. (AMTX) Q3 2025 Earnings Call Transcript

- **Revenue Growth**: Q2 revenue up 21% YoY to $52.2M, driven by India biodiesel orders.
- **RNG Expansion**: 18 dairy digesters operational, targeting 1M MMBtu/yr RNG capacity by end-2026.
- **Tax Credit Potential**: 45Z tax credits could add $82/MMBtu value, with retroactive 2025 application possible.
- **India IPO**: Subsidiary targeting early 2026 listing to fund ethanol expansion in India.
- **E15 Adoption**: California legislation advancing; U.S. ethanol demand could grow by 5B gallons/year.
- **Cash Flow Outlook**: H2 2025 cash flow expected to strengthen from LCFS credits, 45Z tax sales, and India operations.

**【CFO Opening Remarks】**
- Q2 2025 revenue: $52.2 million (up $9.3 million from Q1), driven by biodiesel orders in India.
- Operating loss improved by $4.9 million due to reduced SG&A.
- Net loss: $23.4 million (flat vs. Q2 2024 after adjusting for prior-year nonrecurring charge).
- Cash at year-end: $1.6 million, with $3.6 million invested in RNG expansion.
- Expect stronger cash flow in H2 2025 from India, LCFS credits, and federal tax incentives.

**【CEO Business Update】**
- **Dairy RNG Expansion**: 
  - 18 dairies operational or under construction, using $50M USDA-guaranteed financing.
  - 7 digesters approved by CARB with -384 CI score (120% higher LCFS credit value).
  - 4 more pathways under review via Tier 1 fast-track process.
  - RNG production capacity to reach 550k MMBtu/yr in 2025, 1M MMBtu/yr by end-2026.
- **Ethanol Plant Efficiency**: 
  - $30M mechanical vapor recompression (MVR) system to reduce natural gas use by 80%.
  - $20M in grants and tax credits secured for MVR project.
  - Ethanol production increased post-spring pause to capitalize on higher margins.
- **India Operations**: 
  - Resumed biodiesel shipments in Q2, generating $11.9M in revenue.
  - Targeting IPO of India subsidiary in early 2026; new CFO appointed.
  - Exploring ethanol production expansion supported by government policies.
- **Future Projects**: 
  - 90M gallons/yr SAF and renewable diesel facility in California (permits secured).
  - 1.4M tons/yr CO2 sequestration project at Riverbank site (permits pending).

**【Q&A Highlights】**
- **LCFS Credit Impact**: 
  - 7 approved digesters generating ~$19/MMBtu at current $60 credit price.
  - Expect 12+ approved digesters by year-end, with 45Z tax credit monetization potential.
- **45Z Tax Credits**: 
  - DOE GREET model update expected in August for 2025 retroactive application.
  - Projected $82/MMBtu value for RNG production tax credits starting Q3.
- **India Strategy**: 
  - IPO proceeds likely split between parent company debt repayment and India expansion.
  - U.S.-India trade negotiations could open corn exports for ethanol production.
- **E15 Adoption**: 
  - California E15 legislation advancing; national adoption could add 5B gallons/year.
  - Aemetis ethanol plant positioned to benefit from supply-demand imbalance.
- **Refinancing Progress**: 
  - Deep in discussions with counterparty; closing dependent on 45Z credit monetization.
  - Targeting long-duration debt (20-30 years) to align with project timelines.

Aemetis, Inc. (AMTX) Q2 2025 Earnings Call Transcript

- **Revenue Recovery Expected**: Q2 rebound after India contract delays, with RNG and India biodiesel growth.
- **Cost Efficiency**: $15.5M debt repayment in Q1; 80% natural gas reduction in ethanol plant by 2026.
- **Expansion Ambitions**: 1M MMBtu RNG capacity by 2026, India IPO for RNG/ethanol expansion.
- **Policy Tailwinds**: E15 adoption in 49 states, 45Z tax credits to boost RNG value.
- **Risk Mitigation**: Minimal direct tariff impact; CARB approvals pending for LCFS revenue.


**【CFO Financial Highlights】**
- Q1 2025 Revenue: $42.9M (down 41% YoY) due to delayed India biodiesel contracts, with Q2 recovery expected.
- Operating Loss: $15.6M (including $1.6M in one-time legal costs).
- Net Loss: $24.5M (flat YoY).
- Cash Position: $500K post $15.4M debt repayment and $1.8M in carbon intensity projects.

**【CEO Business Updates】**
1. **Dairy RNG Expansion**: 
   - 18 dairies operational, 4 new ones coming online in Q2.
   - 7 pathways awaiting CARB approval for Q3 LCFS revenue.
   - Targeting 1M MMBtu annual production by end-2026.
2. **California Ethanol**: 
   - $30M mechanical vapor recompression project to cut natural gas use by 80%.
   - E15 ethanol blend expansion approved in 49 states, pending California adoption.
3. **India Biofuels**: 
   - Resumed biodiesel shipments in April; India IPO targeted for late 2025.
   - Exploring RNG and ethanol expansion in India.
4. **Future Projects**: 
   - 90M gallon SAF facility with 78M gallon SAF capacity.
   - CO2 sequestration project to capture up to 1.4M tons annually.

**【Q&A Key Takeaways】**
- **Tariffs Impact**: Minimal direct impact on RNG; potential capital equipment costs for SAF.
- **Debt Reduction**: $15.5M debt paid in Q1; 45Z tax credits to drive further repayment.
- **India Growth**: IPO proceeds for RNG/ethanol expansion; no border conflict impact.
- **45Z Progress**: Treasury Head Ken Kies expected to accelerate provisional emissions rate approvals.
- **Ethanol Margins**: E15 adoption and corn price stability support improving margins.


Aemetis, Inc. (AMTX) Q1 2025 Earnings Call Transcript

- **Revenue Surge**: 2024 revenue up 43% to $268M, driven by ethanol, RNG, and biodiesel growth.
- **Policy Leverage**: LCFS credits poised to reach $200/ton by 2027, generating $80/MMBtu for RNG. E15 blend approval could double ethanol demand.
- **Project Momentum**: $75M capex for RNG expansion; SAF plant requires $43M with $20M grants secured.
- **Risk Management**: 30% LCFS price drop due to policy delay, but long-term upside intact.


**【CFO Financial Overview】**
- **Revenue Growth**: Total revenue for 2024 reached $268 million, up 43% from $187 million in 2023, driven by expansions in California ethanol (+$57.7M), India biodiesel (+$15.7M), and RNG (+$7.6M). 
- **Gross Margin**: Gross loss narrowed to $0.58 million (2023: $2 million profit) due to higher COGS in line with revenue growth. RNG segment generated $5.4M gross profit from LCFS credit sales.
- **Operating Expenses**: SG&A remained stable at $39.8 million (2023: $39.4M). Interest expense rose 9% to $59.3 million, partly offset by $10.8M tax credit sales.
- **Liquidity**: Cash balance declined to $0.9 million (2023: $2.7M), with $20.3M invested in carbon intensity reduction projects.

**【CEO Business Update】**
- **Policy Impact**: 
  - **LCFS Credits**: 2025 mandate delay caused 30% price drop to $75/ton, but CARB projects $200/ton by 2027. Aemetis RNG generates $80/MMBtu at $200/ton LCFS price.
  - **E15 Blend**: Federal approval for 41 states expected 2025-2026, potentially doubling ethanol demand to 20B gallons/year.
  - **45Z Tax Credit**: Federal guidance delay impacting SAF plant financing; project requires $43M capex with $20M grants secured.

**【Andy Foster - North America Operations】**
- **Biogas Expansion**: 550,000 MMBtu/year capacity by end-2025 (up from 2024's 300,000 MMBtu), targeting 1M MMBtu/year by 2026. 
- **Ethanol Efficiency**: $35M annual savings via MVR system (2026 launch), reducing natural gas use by 80%.
- **Carbon Capture**: 1.4M tons/year sequestration project in Riverbank, CA, awaiting EPA Class 6 permit.

**【Q&A Highlights】**
1. **Regulatory Delays**: LCFS amendment delay could take 3-6 months, but CARB staff prioritizing resolution. 
2. **India Biodiesel**: New OMC tender issued March 2025; inventory built ahead of shipments. IPO expected H2 2025/early 2026. 
3. **SAF Financing**: 45Z tax credit clarification needed for SAF plant; $65M grants and $17M ITC sales support 2025 capex of $75M.
4. **Ethanol Margins**: E15 adoption could add $0.50/gallon margin by 2027, driving new capacity expansion.


Aemetis (AMTX)-13 Mar 25-2024 Q4 Earnings call transcript

Aemetis (AMTX)-12 Nov 24-2024 Q3 Earnings call transcript

Aemetis (AMTX)-1 Aug 24-2024 Q2 Earnings call transcript

Aemetis (AMTX)-9 May 24-2024 Q1 Earnings call transcript

Aemetis (AMTX)-7 Mar 24-2023 Q4 Earnings call transcript

- **Revenue Growth**: India biodiesel up 121% YoY, California ethanol stable post-upgrades.
- **RNG Expansion**: 9 digesters operational, $120M/year in tax credits expected.
- **SAF Plant**: Permit secured, $3.8B contracts signed.
- **Ethanol Savings**: $15M/year from solar and AI upgrades.
- **Carbon Capture**: 2M metric tons/year sequestration target.
- **Tax Credit Sales**: $55M from Q3 tax credit sale, lower interest rates on debt.
- **Regulatory Risk**: CARB delays in LCFS approvals.

**【CEO Summary Section】**
- **Revenue Growth and Expansion**: India biodiesel production increased to 15,500 metric tons (up 121% YoY), with plans to expand to 100 million gallons by 2025. California ethanol production stabilized post-upgrades, with 13.8 million gallons sold in Q3.
- **Biogas and RNG Projects**: 9 dairy digesters operational by end-2023, generating 400,000 MMBtu/year. Secured $75 million in USDA loans for additional digesters, targeting 1 million MMBtu/year by 2024. Federal tax credits (IRA) for RNG expected to generate $120 million/year.
- **Sustainable Aviation Fuel (SAF) Plant**: Received use permit for Riverbank site, with air permit expected Q1 2024. Signed $3.8 billion in SAF supply contracts with 10 airlines.
- **Ethanol Plant Upgrades**: $10 million solar grid and AI-enabled control system installed, reducing natural gas usage by 80%. Projected $15 million/year cost savings.
- **Carbon Capture**: Awarded first CO2 sequestration well permit, targeting 2 million metric tons/year. Federal tax credits for sequestration expected to generate $170 million/year.

**【CFO Financial Commentary】**
- **Q3 2023 Results**: Revenue $68.7 million (down 4% YoY), driven by lower ethanol prices. Gross profit $492,000 (vs. $1.1 million loss YoY). Operating loss $8.5 million (vs. $7.6 million YoY). Net income $30.7 million (vs. $66.8 million loss YoY) due to $55 million tax credit sale.
- **Liquidity**: $3.9 million cash at end-Q3, with $8.8 million capital expenditures.

**【Q&A Highlights】**
- **LCFS Credits and IRA Tax Credits**: CARB's proposed 50% LCFS credit increase by 2030 could drive prices to $220/credit. RNG projects with -370 CI score generate $60/MMBtu in tax credits. Q3 D3 RIN price rose to $3.50 (vs. $2 in Q2), driven by supply shortages.
- **Project Delays**: Biogas pathway approvals delayed by CARB, but expected Q2 2024. Solar grid and MVR upgrades at ethanol plant to reduce costs by $15 million/year.
- **India Expansion**: Biodiesel plant expansion funded by $150 million government contracts, targeting 100 million gallons/year. Potential IPO in India or global markets.
- **Debt Reduction**: Refinanced $108 million preferred units at 16% interest (down from 24%), with plans to further reduce debt through tax credit sales.


Actual						-0.1637	0.4612	-0.2101	-0.67	-0.69	-0.34	-0.55	-0.03	-0.54	-0.01	-0.1351	-0.63	-0.73	-0.68	0.73	-0.64	-0.58	-0.66	-0.38	-0.36	-0.47	-0.41	-0.37	-0.08
Forecast						-0.34	-0.31	-0.05	-0.53	-0.5306	-0.3537	-0.342	-0.2653	-0.3126	-0.2923	-0.3183	-0.3025	-0.4198	-0.3287	-0.302	-0.3855	-0.4598	-0.4348	-0.3829	-0.4049	-0.4195	-0.2795	-0.2115	-0.2424
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	+51.85%	+248.77%	-320.20%	-26.42%	-30.04%	+3.87%	-60.82%	+88.69%	-72.74%	+96.58%	+57.56%	-108.26%	-73.89%	-106.88%	+341.72%	-66.02%	-26.14%	-51.79%	+0.76%	+11.09%	-12.04%	-46.69%	-74.94%	+67.00%

AMTX

AMTX fundamentals

AMTX Q4 2025 Earnings

Earnings Call

You can ask Aime

AMTX

AMTX fundamentals

AMTX Q4 2025 Earnings

Earnings Call

AMTX Earnings Call Summary for Q4/20252:00 PM on Mar 12, 2026

AMTX Earnings Call Summary for Q3/20252:00 PM on Nov 6, 2025

AMTX Earnings Call Summary for Q2/20252:00 PM on Aug 7, 2025

AMTX Earnings Call Summary for Q1/20252:00 PM on May 8, 2025

AMTX Earnings Call Summary for Q4/20242:00 PM on Mar 13, 2025

You can ask Aime