Aug 14, 2026, 7:51 AM ETIndustrials

LanzaTech — Second Quarter 2026 Earnings Summary

LNZALANZATECH GLOBAL INC

Financial Performance

Reported revenue of $9.0 million for the quarter, a 1% decrease compared to $9.1 million in Q2 2025.
Operating expenses decreased to $11.7 million in Q2 2026 from $35.1 million in Q2 2025, a 67% improvement.
Net income was $184.3 million for Q2 2026, compared to a net loss of $32.5 million in Q2 2025.
Adjusted EBITDA loss narrowed to $(7.6) million in Q2 2026 from $(29.7) million in Q2 2025, an improvement of approximately 74%.
For the six months ended June 30, 2026, revenue was $21.0 million compared to $18.6 million in the prior year period.
Net income for the six months ended June 30, 2026, was $169.6 million, compared to a net loss of $51.7 million in the prior year period.
Adjusted EBITDA loss for the six months ended June 30, 2026, was $15.5 million, improved from $60.2 million in the prior year period.
Cost of revenue was $7.2 million in Q2 2026, up from $6.2 million in Q2 2025, driven by a higher proportion of engineering services and product-related activity.
Cash and restricted cash increased to $48.9 million as of June 30, 2026, from $17.1 million as of December 31, 2025.
Total assets were $322.7 million as of June 30, 2026, compared to $100.2 million as of December 31, 2025.
Total liabilities decreased to $62.1 million as of June 30, 2026, from $90.9 million as of December 31, 2025.
Shareholders' equity turned positive to $260.6 million as of June 30, 2026, compared to a deficit of $(3.9) million as of December 31, 2025.

Reintroduced financial guidance for Q3 and full year 2026 based on improved visibility and cost discipline.
Q3 2026 revenue guidance is $8 million to $11 million.
Full year 2026 revenue guidance is $50 million to $55 million.
Q3 2026 operating expenses guidance is $13 million to $17 million.
Full year 2026 operating expenses guidance is $51 million to $55 million.
Q3 2026 Adjusted EBITDA guidance is a loss of $(9) million to $(13) million.
Full year 2026 Adjusted EBITDA guidance is a loss of $(22) million to $(26) million.
Management expects continued cost discipline, execution of contracted customer programs, and improved operating performance.

Engineering and other services revenue increased to $3.3 million in Q2 2026 from $1.9 million in Q2 2025, driven by new customer projects.
Joint Development Agreement (JDA) revenue decreased to $0.3 million in Q2 2026 from $1.3 million in Q2 2025 due to project completions.
Licensing revenue decreased to $0.6 million in Q2 2026 from $1.1 million in Q2 2025, primarily due to reduced sublicensing revenue from LanzaJet.
Contract research revenue remained consistent at $1.0 million in Q2 2026 compared to Q2 2025.
CarbonSmart revenue was $3.8 million in Q2 2026, consistent with Q2 2025.
Selected North Sea Port, Ghent, Belgium as the permanent site for Europe's first commercial-scale Alcohol-to-Jet (ATJ) SAF facility, targeting 79,000 tonnes of SAF and 9,000 tonnes of renewable diesel annually.
The FLITE project is estimated to deliver approximately $115 million in annualized offtaking revenues.
Advanced the world's first ISCC EU certification pathway for recycled carbon fuels in China to access mandated European and UK markets.
Launched a multi-year collaboration with BRIGHT at the Technical University of Denmark to design a next-generation C1 biofoundry.

Added to the Russell 3000 Index and Russell 2000 small-cap index effective June 29, 2026, expanding visibility with institutional investors.
The SGLT joint venture completed its IPO on the Hong Kong Stock Exchange in June, raising approximately $75 million in gross proceeds.
SGLT market capitalization escalated to roughly $1.32 billion as of August 12, 2026, with LanzaTech's retained equity holding an estimated market value of around $110 million.
LanzaTech holds 33,520,231 H Shares of SGLT, representing approximately 8.38% of the JV's total issued share capital.

Forward-looking statements involve risks including the ability to continue operations as a going concern and attract new investors.
Risks include delays in government contract awards, funding cycles, or agency operations.
Potential risks involve the ability to maintain Nasdaq listing, execute business strategy, achieve profitability, and attract personnel.
Risks include the ability to comply with laws, manage industry partner relationships, and protect intellectual property.
The company must remediate material weaknesses in internal control over financial reporting.
Actual results may differ due to economic, business, or competitive factors.

CEO Dr. Jennifer Holmgren stated the results reflect actions taken to reshape the company for the current market, including cost reduction, contract renegotiation, and refocused capital spend.
Management highlighted a strategic shift from an R&D-led model toward commercial project deployment.
Dr. Holmgren noted that cost optimization and organizational streamlining have improved year-over-year operating results and created a disciplined platform for revenue growth.
Management emphasized that ISCC EU certification work is foundational for market access and that SAF and certified carbon-smart ethanol provide multiple paths to monetize technology.
The tone indicates confidence in the transformation, cost discipline, and the potential value of technology licensing combined with equity participation.

Issued common stock for gross proceeds of $50.0 million in the six months ended June 30, 2026.
Purchased LanzaJet Series A Preferred Stock for $3.0 million in the six months ended June 30, 2026.
Net income for Q2 2026 included a $208.1 million non-cash unrealized gain on the investment in SGLT following its public listing.
Adjusted EBITDA excludes the non-cash unrealized gain on the SGLT investment.
The company operates a proprietary gas-fermentation platform to transform waste carbon into valuable products.