Verde Clean Fuels, Inc. — Q3 2026 Earnings Summary

Financial Performance:

• Reported a net loss of $(2.0) million for the three months ended September 30, 2026, compared to a net loss of $(2.3) million in the same period in 2025.
• Diluted net loss per share of Class A common stock was $(0.04) for Q3 2026, improving from $(0.06) in Q3 2025.
• For the nine months ended September 30, 2026, the Company recorded a net loss of $(6.3) million, compared to $(7.6) million for the same period in 2025.
• Diluted net loss per share of Class A common stock for the nine months was $(0.14) in 2026, down from $(0.21) in 2025.
• General and administrative expenses decreased to $2.3 million in Q3 2026 from $2.8 million in Q3 2025; for the nine months, they were $7.3 million compared to $8.8 million in 2025.
• Research and development expenses increased to $0.2 million in Q3 2026 from $0.1 million in Q3 2025; for the nine months, they were $0.5 million compared to $0.5 million in 2025.
• Operating loss was $2.5 million for Q3 2026 versus $2.9 million in Q3 2025; for the nine months, operating loss was $7.8 million compared to $9.3 million in 2025.
• The Company held $52.6 million in cash and cash equivalents as of September 30, 2026, down from $57.2 million as of December 31, 2025.
• The Company reported no debt as of September 30, 2026.
• Total assets were $55.7 million as of September 30, 2026, compared to $60.2 million as of December 31, 2025.
• Total liabilities were $2.2 million as of September 30, 2026, compared to $2.1 million as of December 31, 2025.
• Total stockholders' equity was $53.5 million as of September 30, 2026, compared to $58.1 million as of December 31, 2025.
• Shares outstanding remained unchanged at 44.5 million shares (Class A and Class C combined).

Business Segments and Product Lines:

• The Company continues to evaluate strategic alternatives and opportunities to deploy its proprietary STG+® technology.
• The STG+® process converts syngas derived from feedstocks including natural gas and biomass into finished liquid fuels requiring no additional refining.
• Over $150 million has been invested in the development and demonstration of the STG+® technology since 2007.
• A demonstration plant has completed over 10,000 hours of operation.
• The technology is engineered for industrial-scale deployment in standardized modular units.

Risks and Challenges:

• Forward-looking statements are subject to risks including changes in economic, financial, legal, regulatory, political, governmental, and business conditions.
• Risks include the inability to deploy or commercialize the technology, complete transactions, or implement strategy within expected timelines.
• Potential delays in acquisition, financing, construction, and development of any potential project are cited as risks.
• Actual results may differ materially from expectations due to unknown risks and uncertainties.

Management Commentary and Tone:

• CEO George Burdette stated the Company is evaluating strategic alternatives with a disciplined approach to capital allocation.
• Management remains focused on preserving shareholder capital and evaluating opportunities to maximize shareholder value.
• The Company is continuing to execute on cost savings initiatives, which contributed to lower losses in the reported periods.
• Higher share-based compensation expense partially offset the benefits of cost savings initiatives.

Other Key Points:

• The Company is actively evaluating strategic alternatives and opportunities to deploy its STG+® technology.
• The Company maintains a strong balance sheet with no debt and significant cash reserves.
• The Company is executing cost savings initiatives to reduce operating losses.
• No dividends, buybacks, or M&A deals were announced in this release.