AEMETIS, INC AMTX

Healthcare SIC 2860 - Industrial Organic Chemicals NAICS Manufacturing › Chemical Manufacturing › Basic Chemical Manufacturing › Other Basic Organic Chemical Manufacturing derived Nasdaq

Founded in 2006 and headquartered in Cupertino, California, Aemetis, Inc. (collectively with its subsidiaries on a consolidated basis referred to herein as "Aemetis," the "Company," "we," "our" or "us") is an international renewable natural gas and renewable fuels company focused on the operation, acquisition, development, and commercialization of innovative technologies to produce low and negative carbon intensity renewable fuels that lower fuel costs and reduce emissions. We do this by building a local circular bioeconomy using agricultural products and wastes to produce low carbon, advanced renewable fuels that reduce greenhouse gas ("GHG") emissions and improve air quality. Our current operations include:

Last close 1.30 2026-10-23
Market cap $93.8M 2026-06-30 share count
52-week range 1.18 - 3.80

Valuation FY2025 figures against the last close

P/S0.5x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-1.28

Where the revenue comes from as reported in the latest 10-K

Revenue by segment

  • California Ethanol
  • India Biodiesel Segment
  • California Dairy Renewable Natural Gas
  • Other
Revenue by segment, 4 categories over 2 years. The same figures are in the table below. FY2025 California Ethanol, FY2025: 153.2M (77.5%) 78% California Ethanol India Biodiesel Segment, FY2025: 29.7M (15.0%) 15% California Dairy Renewable Natural Gas, FY2025: 14.7M (7.5%) 7% Other, FY2025: 0 (0.0%) FY2024 California Ethanol, FY2024: 161.8M (60.4%) 60% India Biodiesel Segment, FY2024: 92.8M (34.7%) 35% California Dairy Renewable Natural Gas, FY2024: 13M (4.9%) 5% Other, FY2024: 0 (0.0%)
Segment FY2025FY2024
California Ethanol $153.2M $161.8M
India Biodiesel Segment $29.7M $92.8M
California Dairy Renewable Natural Gas $14.7M $13.0M
Other $0 $0

As the company reported it, from the “Note 13 - Segment Information - Schedule of Segment Reporting Information (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $197.6M$267.6M$186.7M$256.5M$211.9M$165.6M$202.0M$171.5M$150.2M$143.2M
Cost of revenue $208.7M$268.2M$184.7M$262.0M$204.0M$154.5M$189.3M$166.1M$146.8M$131.6M
Gross profit -$768.0K-$580.0K$2.0M-$5.5M$7.9M$11.0M$12.7M$5.4M$3.4M$11.6M
R&D ——$152.0K$180.0K$88.0K$213.0K$205.0K$246.0K$2.4M$369.0K
SG&A $36.5M$39.8M$39.4M$28.7M$23.7M$16.9M$17.4M$16.1M$13.2M$12.0M
Operating income -$37.2M-$40.4M-$37.4M-$34.4M-$15.8M-$6.1M-$4.9M-$10.9M-$12.2M-$781.0K
Interest expense $52.9M$46.6M$39.5M$28.8M$24.1M$22.9M$21.1M$25.7M$19.3M$17.2M
Pre-tax income -$95.7M-$98.4M-$100.2M-$106.7M-$47.3M$0$0-$36.3M-$31.8M-$15.6M
Income tax $18.7M$10.8M$53.7M$1.1M$128.0K$976.0K$1.1M$7.0K$6.0K$6.0K
Net income -$77.0M-$87.5M-$46.4M-$107.8M-$47.1M-$36.7M-$39.5M-$36.3M-$31.8M-$15.6M
EPS, basic -1.28-1.91-1.22-3.12-1.54-1.74-1.75-1.63-1.53-0.79
EPS, diluted -1.28-1.91-1.22-3.12-1.54-1.74-1.75-1.63-1.53-0.79
Shares, diluted (wtd. avg.) 60.0M45.9M38.1M34.6M30.7M21.0M20.5M20,25219,83319,771

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $4.9M$898.0K$2.7M$4.3M$7.8M$592.0K$656.0K$1.2M$428.0K$1.5M
Receivables ———$1.3M$1.6M—————
Inventory $11.6M$25.4M$18.3M$4.7M$5.1M$4.0M$6.5M$6.1M$5.7M$3.2M
Total current assets $26.9M$44.7M$36.4M$18.1M$20.7M$8.7M$12.6M$10.3M$11.5M$7.0M
Property, plant and equipment ——$195.1M$180.4M$135.1M$109.9M$84.2M$78.5M$78.8M$66.4M
Total assets $259.8M$259.3M$243.4M$207.1M$160.8M$125.1M$99.9M$91.8M$94.3M$77.8M
Accounts payable $23.4M$33.1M$32.1M$26.2M$16.4M$20.7M$16.0M$13.5M$10.5M$7.8M
Short-term debt $279.1M$63.7M$13.6M$12.5M$8.2M$45.0M$5.8M$2.4M$2.0M$2.0M
Total current liabilities $371.3M$144.0M$84.4M$88.3M$65.3M$102.2M$57.8M$42.6M$36.0M$27.2M
Long-term debt $63.9M$247.5M$257.7M$197.0M$166.0M$170.1M$179.7M$157.8M$138.2M$100.3M
Retained earnings -$639.9M-$562.9M-$475.4M-$429.0M-$321.2M-$274.1M-$237.4M-$193.2M-$160.2M-$129.9M
Total equity -$306.8M-$263.9M-$217.0M-$201.9M-$120.2M-$184.7M-$154.4M-$115.6M-$79.9M-$49.8M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $3.3M-$32.9M$13.8M-$22.9M-$20.6M$2.5M-$2.0M-$5.5M-$8.7M$371.0K
Depreciation and amortisation $9.6M$8.3M$6.9M$5.5M$5.4M$4.9M$4.4M$4.6M$4.6M$4.7M
Stock-based compensation $5.8M$8.3M$7.7M$6.4M$3.9M$995.0K$774.0K$981.0K$1.1M$747.0K
Capital expenditure $26.0M$20.3M$33.1M$39.2M$26.7M$19.3M$8.6M$4.1M$1.1M$629.0K
Investing cash flow -$25.6M-$14.1M-$23.7M-$31.3M-$22.9M-$17.3M-$8.6M-$4.1M-$1.1M-$629.0K
Financing cash flow $26.4M$44.6M$9.1M$53.6M$50.7M$14.8M$10.1M$10.4M$8.4M$1.6M
Buybacks —————————$0

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-011626.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -200M -100M 0 100M 200M 300M Revenue, FY2016: 143.2M Gross profit, FY2016: 11.6M Net income, FY2016: -15.6M Revenue, FY2017: 150.2M Gross profit, FY2017: 3.4M Net income, FY2017: -31.8M Revenue, FY2018: 171.5M Gross profit, FY2018: 5.4M Net income, FY2018: -36.3M Revenue, FY2019: 202M Gross profit, FY2019: 12.7M Net income, FY2019: -39.5M Revenue, FY2020: 165.6M Gross profit, FY2020: 11M Net income, FY2020: -36.7M Revenue, FY2021: 211.9M Gross profit, FY2021: 7.9M Net income, FY2021: -47.1M Revenue, FY2022: 256.5M Gross profit, FY2022: -5.5M Net income, FY2022: -107.8M Revenue, FY2023: 186.7M Gross profit, FY2023: 2M Net income, FY2023: -46.4M Revenue, FY2024: 267.6M Gross profit, FY2024: -580K Net income, FY2024: -87.5M Revenue, FY2025: 197.6M Gross profit, FY2025: -768K Net income, FY2025: -77M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $143.2M $150.2M $171.5M $202.0M $165.6M $211.9M $256.5M $186.7M $267.6M $197.6M
Gross profit $11.6M $3.4M $5.4M $12.7M $11.0M $7.9M -$5.5M $2.0M -$580.0K -$768.0K
Net income -$15.6M -$31.8M -$36.3M -$39.5M -$36.7M -$47.1M -$107.8M -$46.4M -$87.5M -$77.0M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Auditor changed The company changed auditors. Sometimes routine; historically one of the more reliable warnings that something is wrong. Item 4.01
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
  • Shareholder vote Item 5.07
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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