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Mar 31, 2024
LanzaTech Q1 2024 Earnings Report
Reported financial results in line with annual guidance and consistent with outlook of back-end weighted full year 2024 revenue.
Key Takeaways
LanzaTech reported first quarter 2024 revenue of $10.2 million, a 6% increase year-over-year, driven by growth in CarbonSmart and Joint Development Agreements & Contract Research businesses. The company reiterated its full year 2024 revenue outlook of $90 - $105 million.
Revenue totaled $10.2 million, up 6% year-over-year, driven by CarbonSmart and Joint Development Agreements & Contract Research businesses.
Gross margin was 34%, up 15 percentage points year-over-year, driven by a greater mix of high-margin engineering services and Joint Development Agreement work.
Net loss totaled $(25.5) million, compared to a net loss of $(63.3) million in the prior year period.
Cash, restricted cash, and investments totaled $92.3 million at March 31, 2024.
Forward Guidance
The Company is reiterating its previously issued financial and operating outlook for the full year 2024. Management expects total revenue of $90 - $105 million and adjusted EBITDA of $(65) - $(55) million. The current outlook includes expected annual growth across all components of the business and at the midpoint, approximately 55% revenue growth over last year. The Company continues to expect its financial performance to be significantly back-end weighted to the second half of 2024.
Positive Outlook
- Expected annual growth across all components of the business
- Approximately 55% revenue growth over last year at the midpoint
- Project SECURE selected by US Department of Energy to receive up to $200 Million Investment
- Sustainable Aviation Fuel Momentum and Freedom Pines Fuels Facility Startup Initiation
- Project Development Pipeline Continues Expansion
Historical Earnings Impact
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Avg. Return Before/After Earnings
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