The earnings call presented a mix of positive developments such as increased revenues, improved operating loss, and strategic expansions in various segments. However, challenges remain with increased interest expenses, reported net losses, and uncertainties in revenue recognition for tax credits. Overall, the company's efforts to enhance its operational efficiency and strategic positioning indicate a promising outlook, though financial hurdles continue to pose risks.

Company Guidance -

Q3 2025

During the Aemetis Second Quarter 2025 Earnings Conference Call, the company provided detailed guidance and metrics highlighting their financial and operational performance. Aemetis reported revenues of $52.2 million, an increase of $9.3 million from the previous quarter, primarily due to fulfilling biodiesel orders in India. California Ethanol production was slightly down at 13.8 million gallons, while the California Dairy Renewable Natural Gas (RNG) segment generated $3.1 million from 11 operating digesters. An operating loss improvement of $4.9 million was noted, and interest expense reached $12.3 million. The net loss was $23.4 million, consistent with the previous year after adjustments. Cash at year-end was $1.6 million following investments in carbon reduction and RNG expansion. The company anticipated increased revenue streams from India, LCFS credits, and federal tax incentives, with expectations for improved cash flow and debt reduction. Additionally, Aemetis projected a 30% increase in RNG production with a new digester, aiming for a capacity of 550,000 MMBtus this year and one million by 2026. The company also highlighted future projects, including a $30 million mechanical vapor recompression system for their ethanol plant, expected to add $32 million in annual cash flow by 2026.

Increase in Revenues

Revenues were $52.2 million, up by $9.3 million from the first quarter, primarily due to biodiesel orders in India.

Improvement in Operating Loss

Operating loss improved by $4.9 million from the first quarter of 2025, reflecting reduced SG&A expenses.

Dairy Renewable Natural Gas Expansion

The company is scaling up gas production with a new digester increasing RNG production by 30%. CARB-approved pathways for 7 dairies increased LCFS credit revenue by 120%.

Investment in Carbon Intensity Reduction

$3.6 million invested in carbon intensity reduction and dairy renewable natural gas production expansion.

E15 Ethanol Blend Expansion

Ethanol pricing improved with EPA approval for summer E15 blending and lower corn prices. California legislation for year-round E15 passed the assembly unanimously.

LCFS Credit Price Increase

LCFS credit prices rose from $42 to about $60, with the current cap at $268 for 2025.

Progress on Sustainable Aviation Fuel Project

Received authority to construct permits for a 90 million gallon per year SAF facility in California.

Aemetis (AMTX) Earnings, Revenues Date & History

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AMTX Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 12, 2025	2025 (Q3)	-0.22 / -	-0.38	―	―	―
Aug 07, 2025	2025 (Q2)	-0.28 / -0.41	-0.66	37.88% (+0.25)	―
May 08, 2025	2025 (Q1)	-0.42 / -0.47	-0.58	18.97% (+0.11)	―
Mar 13, 2025	2024 (Q4)	-0.41 / -0.36	-0.64	43.75% (+0.28)	―
Nov 12, 2024	2024 (Q3)	-0.38 / -0.38	0.73	-152.05% (-1.11)	―
Aug 01, 2024	2024 (Q2)	-0.43 / -0.66	-0.68	2.94% (+0.02)	―
May 09, 2024	2024 (Q1)	-0.46 / -0.58	-0.73	20.55% (+0.15)	―
Mar 07, 2024	2023 (Q4)	-0.39 / -0.64	-0.63	-1.59% (-0.01)	―
Nov 09, 2023	2023 (Q3)	-0.30 / 0.73	-0.135	640.74% (+0.86)	―
Aug 03, 2023	2023 (Q2)	-0.33 / -0.68	-0.01	-6700.00% (-0.67)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

AMTX Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 07, 2025	$2.57	$2.42	-5.84%
May 08, 2025	$1.30	$1.36	+4.62%
Mar 13, 2025	$1.77	$1.59	-10.17%
Nov 12, 2024	$3.59	$4.62	+28.69%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.