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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.
LanzaTech
LanzaTech
LanzaTech Revenue by Segment
Revenue by Segment
Contracts & Grants Revenue
CapyFin.comCarbonSmart Sales Revenue
CapyFin.comCollaborative Projects Revenue
CapyFin.comRelated Party Revenue
CapyFin.com 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
Revenue & Expenses
Visualization of income flow from segment revenue to net income