AleAnna, Inc. Reports $644,600 Revenue in Q1 2025, Operating Loss Increases to $3.6 Million

AleAnna, Inc. reported its financial results for the first quarter of 2025, revealing a revenue of $644,600, a significant increase from zero revenue in the same period last year. The company attributed this revenue to electricity sales from its renewable natural gas (RNG) assets, specifically the Casalino and Campopiano plants, which were acquired in July 2024. However, AleAnna incurred an operating loss of $3.6 million, compared to a loss of $2.1 million in the prior year, reflecting a 77% increase in operating losses primarily due to higher general and administrative expenses.

The company's total operating expenses surged to $4.3 million, up from $2.1 million in the previous year, driven by increased costs associated with the operation of its RNG plants and higher administrative costs related to its status as a public company. General and administrative expenses alone rose by 65% to $3.3 million, reflecting the costs of compliance and operational support. The net loss attributable to Class A common stockholders was $2.0 million, a notable decrease from a loss of $114.3 million in the prior year, which included a significant deemed dividend related to the redemption value of preferred units.

AleAnna's balance sheet as of March 31, 2025, showed total assets of $82.0 million, a slight decrease from $83.1 million at the end of 2024. The company reported cash and cash equivalents of $27.8 million, down from $28.3 million at the end of the previous year. Total liabilities increased to $34.1 million, primarily due to a rise in the contingent consideration liability associated with its acquisition of a working interest in the Longanesi field, which now stands at $26.0 million.

Operationally, AleAnna achieved a significant milestone with the first production from its Longanesi field on March 13, 2025. However, the company has not yet recognized revenue from this conventional natural gas business as production activities were still undergoing testing and stabilization. The company expects to begin sales from this field in May 2025. AleAnna is also focused on expanding its RNG operations, with plans to upgrade its existing assets to refine biomethane into renewable natural gas.

Looking ahead, AleAnna anticipates continued investment in its operations, with expectations of achieving sustained profitability in the second half of 2025. The company is exploring various financing options, including resource-backed loans and other arrangements, to support its growth initiatives. Despite the challenges, AleAnna remains committed to its strategic objectives in both conventional and renewable natural gas sectors, aiming to enhance its market position in Europe.