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LanzaTech
🇺🇸 NASDAQ:LNZA
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Sep 30, 2024

LanzaTech Q3 2024 Earnings Report

Financial results reported for Q3 2024, outlook updated for 2024, and business model expanded to accelerate revenue growth.

Key Takeaways

LanzaTech reported a disappointing Q3 2024 with revenue of $9.9 million, missing financial targets due to a delay in a LanzaJet sublicensing event and softer ethanol pricing. However, the company announced a long-term off-take agreement with ArcelorMittal and advanced Project Drake, positioning it for greater upside.

Announced a two-stage ethanol off-take agreement with ArcelorMittal, including contracts for one-year and five-year terms.

Announced Project Drake, a 30 million gallon per year, EU-based, ethanol-to-sustainable aviation fuel project, with a financing commitment expected by the end of 2024.

Reported revenue of $9.9 million for third-quarter 2024, compared to $19.6 million for third-quarter 2023, with the decrease driven by timing delay in anticipated LanzaJet sublicensing event and higher engineering services revenue in the prior year.

Expanding business model to complement licensing business by developing and financing more of LanzaTech's own projects with infrastructure capital partners.

Total Revenue
$9.94M
Previous year: $19.6M
-49.3%
EPS
-$0.29
Previous year: -$0.13
+123.1%
Gross Profit
$1.8M
Previous year: $3.86M
-53.3%
Cash and Equivalents
$58.7M
Previous year: $91.4M
-35.7%
Free Cash Flow
-$26.7M
Previous year: -$24.3M
+10.1%
Total Assets
$216M
Previous year: $246M
-12.2%

LanzaTech

LanzaTech

LanzaTech Revenue by Segment

Forward Guidance

LanzaTech anticipates a wide range of potential financial outcomes for the fourth quarter and full year 2024, contingent on several large initiatives with varying degrees of timing uncertainty.

Positive Outlook

  • Base business expected to generate approximately $10.0 million in revenue.
  • Advancement of Project Drake is forecasted to have a material positive impact on cash flow and income.
  • Potential project transfer in Norway, pending a positive FID evaluation by Brookfield, could represent approximately $20.0 million of revenue or income.
  • Finalization of the award contracting process for Project SECURE is forecasted to generate approximately $4.0 million of revenue.
  • Successful signing of another Alcohol-to-Jet sublicense agreement by LanzaJet could result in additional share consideration and incremental revenue estimated to be approximately $8.0 million.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View LanzaTech