Aemetis Inc

NASDAQ:AMTXUnited States

(Tables follow)
AEMETIS, INC. CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (unaudited, in thousands, except per share data) For the three months ended March 31, 2024 2023 ---------- ---------- Revenues $ 72,634 $ 2,151 Cost of goods sold 73,246 3,446 ---------- ---------- Gross profit (loss) (612) (1,295) Selling, general and administrative expenses 8,850 10,828 ---------- ---------- Operating loss (9,462) (12,123) Other expense (income): Interest expense Interest rate expense 9,092 7,078 Debt related fees and amortization expense 1,421 1,969 Accretion and other expenses of Series A preferred units 3,311 5,564 Other income/expense 67 (76) ---------- ---------- Loss before income taxes (23,353) (26,658) Income tax expense 878 (248) Net loss $ (24,231) $ (26,410) ========== ========== Net loss per common share Basic $ (0.58) $ (0.73) Diluted $ (0.58) $ (0.73) Weighted average shares outstanding Basic 41,889 36,425 Diluted 41,889 36,425 AEMETIS, INC. CONSOLIDATED CONDENSED BALANCE SHEETS (in thousands) December 31, March 31, 2024 2023 (Unaudited) -------------- -------------- Assets Current assets: Cash and cash equivalents $ 1,629 $ 2,667 Accounts receivable 8,867 8,633 Inventories 16,011 18,291 Prepaid and other current assets 6,445 6,809 -------------- -------------- Total current assets 32,952 36,400 -------------- -------------- Property, plant and equipment, net 197,737 195,108 Other assets 11,550 11,898 Total assets $ 242,239 $ 243,406 ============== ============== Liabilities and stockholders' deficit Current liabilities: Accounts payable $ 29,789 $ 32,132 Current portion of long term debt 48,870 13,585 Short term borrowings 23,937 23,443 Other current liabilities 15,322 15,229 -------------- -------------- Total current liabilities 117,918 84,389 Total long term liabilities 356,462 375,994 Stockholders' deficit: Common stock 43 41 Additional paid-in capital 273,167 264,058 Accumulated deficit (499,636) (475,405) Accumulated other comprehensive loss (5,715) (5,671) -------------- -------------- Total stockholders' deficit (232,141) (216,977) Total liabilities and stockholders' deficit $ 242,239 $ 243,406 ============== ============== RECONCILIATION OF ADJUSTED EBITDA TO NET INCOME/(LOSS) (unaudited, in thousands) For the three months ended March 31, ---------------------------- EBITDA Calculation 2024 2023 ------------- ------------- Net loss $ (24,231) $ (26,410) Adjustments Interest and amortization expense 10,513 9,047 Depreciation expense 1,798 1,790 Accretion of Series A preferred units 3,311 5,564 Share-based compensation 2,969 2,662 Intangibles amortization expense 12 12 Income tax expense (benefit) 878 (248) Total adjustments 19,481 18,827 ------------- ------------- Adjusted EBITDA $ (4,750) $ (7,583) ============= ============= PRODUCTION AND PRICE PERFORMANCE (unaudited) Three Months ended March 31, -------------------------------------- 2024 2023 -------------- -------------- Ethanol Gallons sold (in millions) 14.1 0.1 Average sales price/gallon $ 1.79 $ 2.50 Percent of nameplate capacity 103% 1% WDG Tons sold (in thousands) 94 - Average sales price/ton $ 98 $ - Delivered Cost of Corn Bushels ground (in millions) 4.9 - Average delivered cost / bushel $ 6.33 $ - Dairy Renewable Natural Gas MMBtu produced (in thousands) 60.3 21.3 MMBtu stored as inventory (in thousands) 46.8 31.0 MMBtu sold (in thousands) 60.8 21.3 Biodiesel Metric tons sold (in thousands) 27.5 1.0 Average Sales Price/Metric ton $ 1,127 $ 1,250 Percent of Nameplate Capacity 73.4% 0.6% Refined Glycerin Metric tons sold (in thousands) 2.4 0.3 Average Sales Price/Metric ton $ 551 $ 750

May, 03, 2024 -- (Aemetis, Inc.) --

(NewMediaWire)

CUPERTINO, CA - (NewMediaWire) - May 03, 2024 - Aemetis, Inc. (NASDAQ: AMTX) announced that the company will host a conference call to review the release of its first quarter 2024 earnings report: