Aemetis, Inc. reported a significant decline in financial performance for the third quarter of 2025, with total revenues of $59.2 million, down 27.3% from $81.4 million in the same period last year. The company's net loss for the quarter was $23.7 million, compared to a loss of $17.9 million in the prior year. For the nine months ending September 30, 2025, revenues totaled $154.3 million, a decrease of 30.1% from $220.6 million in 2024, while the net loss for the period was $71.7 million, slightly higher than the $71.3 million loss reported in the previous year.
The decline in revenue was attributed to reduced sales across all segments, particularly in the India Biodiesel segment, which saw a 67.6% drop in revenue due to delays in tender contracts from government-owned Oil Marketing Companies. The California Ethanol segment also experienced a 4.5% decrease in revenue, primarily due to lower sales volumes and prices for ethanol and Wet Distillers Grains. The California Dairy Renewable Natural Gas segment reported a modest decline of 1.6% in revenue, despite an increase in the average price of renewable natural gas sold.
Operationally, Aemetis has been focusing on strategic developments, including the construction of additional anaerobic digesters for its renewable natural gas production and the implementation of energy efficiency initiatives at its Keyes Plant. The company currently operates twelve digesters and has agreements with over fifty dairies for biogas production. Additionally, Aemetis is developing a sustainable aviation fuel and renewable diesel production plant in Riverbank, California, which is expected to enhance its product offerings and market reach.
As of September 30, 2025, Aemetis reported total assets of $241.1 million, a decrease from $259.3 million at the end of 2024. The company's total liabilities increased to $545.9 million, up from $421.1 million, primarily due to higher debt levels. The company has been actively seeking to improve liquidity through various strategies, including selling equity and pursuing additional financing options. However, Aemetis noted substantial doubt about its ability to continue as a going concern over the next twelve months, given its reliance on debt refinancing and the current cash flow challenges.
Looking ahead, Aemetis plans to optimize operations at its Keyes Plant, reduce natural gas consumption, and monetize new tax credits to improve financial performance. The company is also focused on expanding its renewable natural gas production and enhancing its biodiesel operations in India. Despite the challenges, Aemetis remains committed to its mission of producing low-carbon renewable fuels and reducing greenhouse gas emissions.
About AEMETIS, INC
Aemetis, Inc. is a renewable fuels company based in Cupertino, California, focused on producing low and negative carbon intensity fuels. Key products include ethanol, renewable natural gas (RNG), and biodiesel, with significant operations in California and India. The company targets the growing demand for sustainable energy solutions, leveraging agricultural waste. Aemetis is advancing initiatives in sustainable aviation fuel and carbon capture, aiming to enhance its market position and reduce greenhouse gas emissions.
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