LanzaTech Reports $9.5 Million Revenue, Net Loss Improves to $19.2 Million

LanzaTech Global, Inc. reported a total revenue of $9.5 million for the three months ended March 31, 2025, a decrease of 7.4% from $10.2 million in the same period last year. The decline was primarily attributed to a significant drop in engineering and other services revenue, which fell by $2.7 million due to the completion of projects with existing customers. However, the company saw a notable increase in CarbonSmart product sales, which rose to $4.2 million from $863,000 in the prior year. Despite the revenue drop, LanzaTech's net loss improved to $19.2 million from $25.5 million year-over-year, reflecting a 24.6% reduction in losses.

In terms of operational metrics, LanzaTech's accumulated deficit increased to $988.8 million as of March 31, 2025, compared to $969.6 million at the end of 2024. The company reported cash and cash equivalents of $13.8 million, a significant decrease from $43.5 million at the end of the previous fiscal year. This reduction was primarily due to cash outflows from operations and partial repayments on the Brookfield Loan. The company’s total liabilities decreased to $127 million from $161.2 million, largely due to the conversion of the Convertible Note into common stock and the extinguishment of the Brookfield SAFE.

Strategically, LanzaTech is focusing on streamlining its operations and enhancing its liquidity. On May 7, 2025, the company entered into a Series A Convertible Senior Preferred Stock Purchase Agreement, raising $40 million through the issuance of preferred stock. This transaction also involved the mandatory conversion of a $40.2 million Convertible Note into common stock, which resulted in the issuance of over 34 million shares. The company is also pursuing additional financing options, including a potential subsequent financing of $35 million to $60 million, contingent upon stockholder approvals.

Geographically, LanzaTech's technology is currently operational at four commercial-scale ethanol plants in China, one in Belgium, and one in India, with additional projects in various stages of development. The company continues to leverage its proprietary gas fermentation technology to convert waste carbon into sustainable fuels and chemicals. As of March 31, 2025, LanzaTech's employee headcount remained stable, reflecting its commitment to maintaining operational efficiency amid ongoing financial challenges.

Looking ahead, LanzaTech acknowledges the substantial doubt regarding its ability to continue as a going concern, given its recurring net losses and the projected insufficiency of existing cash and short-term investments to fund operations over the next twelve months. The company is actively evaluating strategic options to enhance liquidity and is focused on achieving profitability through the commercialization of its technology.