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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.
LanzaTech
LanzaTech
LanzaTech Revenue by Segment
Revenue by Segment
Collaborative Projects Revenue
CapyFin.comRelated Party Revenue
CapyFin.com 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