Significant progress against cost reduction efforts positions business for sustained success
LanzaTech advancing towards world's first ISCC EU certification for recycled carbon fuels in China
SKOKIE, Ill., Aug. 14, 2026 (GLOBE NEWSWIRE) -- LanzaTech Global, Inc. (NASDAQ: LNZA) ("LanzaTech" or the "Company"), a carbon management solutions company, today reported its financial and operating results for the second quarter ended June 30, 2026.
Second Quarter 2026 Financial and Operational Highlights (comparisons vs. Second Quarter 2025)
-- Revenue of $9.0 million, down 1% compared to $9.1 million
-- Operating Expenses of $11.7 million, improved by 67% compared to $35.1
million
-- Net Income of $184.3 million, compared to a net loss of $32.5 million,
primarily reflecting a significant non-cash unrealized gain on the
Company's investment in SGLT.
-- Adjusted EBITDA of $(7.6) million improved by approximately 74% compared
to $(29.7) million
Management Comments:
Dr. Jennifer Holmgren, CEO of LanzaTech, stated "Our Second Quarter results reflect the actions we have taken to reshape LanzaTech for the current market. We have reduced costs, renegotiated key contracts and refocused capital spend as we move from an R&D-led model toward commercial project deployment. These actions are improving our year over year operating results and creating a more disciplined platform for revenue growth and long-term profitability."
Dr. Holmgren continued, "As we execute our near-term cost reduction and profitability improvement strategy, we continue to advance milestones that support commercialization and future value capture. Our work towards the world's first ISCC EU certification for recycled carbon fuel is a critical step in opening mandated European fuel markets to CarbonSmart ethanol. We believe this creates new commercial optionality across multiple end markets. SAF remains a core medium-term opportunity, supported by leading alcohol-to-jet technology, while certified carbon-smart ethanol gives us near-term access to direct-use markets such as marine and road transport. That breadth is a strategic asset, giving us flexibility, resilience, and multiple paths to monetize our technology today, while certification work like ISCC EU keeps us well positioned in mandated markets as they expand. Together, these markets support our focus on converting commercial progress into revenue growth and a clearer path to sustainable profitability."
Key Strategic and Operational Updates:
-- Selected North Sea Port, Ghent for FLITE SAF facility: In May, LanzaTech
selected North Sea Port, Ghent, Belgium as the permanent site for
Europe's first commercial-scale Alcohol-to-Jet sustainable aviation fuel
facility using the LanzaJet ATJ process, targeting 79,000 tonnes of SAF
and 9,000 tonnes of renewable diesel annually and marking a major
de-risking milestone toward FID with the planned Environmental Impact
Assessment scoping notification.
-- LanzaTech estimates that the FLITE project carries the potential
to deliver approximately $115 million in annualized offtaking
revenues, with significant additional revenue opportunity streams.
-- LanzaTech is currently undergoing the world's first ISCC EU certification
pathway for recycled carbon fuels in China, working with ISCC and other
stakeholders to establish the methodology, carbon accounting, and
traceability standards for this emerging fuel category. ISCC EU
certification verifies compliance with the EU's Renewable Energy
Directive (RED III) and is also recognized by the UK's Department for
Transport, making it a gateway to both mandated markets. This work is
foundational to market access for recycled carbon fuel projects and
future certifications as the category scales.
-- Added to the Russell 3000 Index: LanzaTech was added to the Russell 3000
Index, effective June 29, 2026, also placing the Company in the Russell
2000 small-cap index and expanding visibility with institutional
investors and passive index funds.
-- Successful IPO and post-listing value creation of SGLT joint venture: In
June, Beijing Shougang LanzaTech Technology Co., Ltd. completed its IPO
on the Hong Kong Stock Exchange, raising approximately US$75 million in
gross proceeds for SGLT and implying a market capitalization of
approximately US$750 million upon listing. The Company did not sell any
shares in the offering and did not receive any proceeds. Following
completion of the offering, the Company held, through its subsidiary,
33,520,231 H Shares of Shougang LanzaTech, representing approximately
8.38% of the JV's total issued share capital upon listing. Driven by
strong initial trading volume, the JV's market capitalization escalated
to roughly US$1.32 billion as of August 12, at which point LanzaTech's
retained equity held an estimated market value of around US$110 million.
This provides public-market validation that LanzaTech-originated
platforms can scale in commercially demanding sectors, while also
demonstrating the potential value of LanzaTech's strategy of combining
technology licensing with equity participation in commercial projects.
-- Launched BRIGHT partnership to accelerate carbon-to-value biotechnology:
LanzaTech entered a multi-year collaboration with BRIGHT at the Technical
University of Denmark to design and install a next-generation C1
biofoundry, supporting development of technologies that convert CO2, CO
and methane into fuels, chemicals and materials.
-- Net income was $169.6 million for the six months ended June 30, 2026,
primarily due to a $208.1 million non-cash unrealized gain on the
Company's investment in SGLT, compared to net loss of $51.7 million for
the six months ended June 30, 2025. Adjusted EBITDA(1) loss decreased to
$15.5 million for the six months ended June 30, 2026, compared to
Adjusted EBITDA loss of $60.2 million for the six months ended June 30,
2025, reflecting meaningful progress in underlying operating performance,
driven by disciplined cost optimization initiatives.
(1) See "Non-GAAP Financial Measures" and "Reconciliation of Net Income (Loss) to Adjusted EBITDA" sections herein for an explanation and reconciliations of non-GAAP measures used throughout this release.
Second-Quarter 2026 Financial Results
The table below outlines key results for the three and six months ended June 30, 2026 and 2025:
All amounts in Three Months Ended
millions ($) June 30, Six Months Ended June 30,
---------------------- ---------------------------
2026 2025 2026 2025
----- -----
Revenue $ 9.0 $ 9.1 $ 21.0 $ 18.6
Cost of
revenue(1) 7.2 6.2 15.5 13.7
Operating
expenses 11.7 35.1 25.2 68.1
Net income
(loss) 184.3 (32.5) 169.6 (51.7)
Adjusted
EBITDA(2) $ (7.6) $ (29.7) $ (15.5) $ (60.2)
(1) Exclusive
of
depreciation.
(2) See "Non-GAAP Financial Measures" and "Reconciliation
of Net Income (Loss) to Adjusted EBITDA" sections
herein for an explanation and reconciliations of non-GAAP
measures used throughout this release.
Revenue
-- Reported total revenue of $9.0 million for the second quarter of 2026,
compared to total revenue of $9.1 million in the second quarter of 2025.
The decrease was primarily attributable to a $1.0 million decrease in
revenue from Joint Development Agreements ("JDA") and a $0.5 million
reduction in revenue received from LanzaJet for their sublicensing of our
technology, partially offset by a $1.4 million increase in engineering
and other services revenue.
-- Engineering and other services revenue in the second quarter of
2026 was $3.3 million, compared to $1.9 million in the second
quarter of 2025, reflecting the initiation of new customer
projects and increased engineering activity.
-- JDA revenue in the second quarter of 2026 was $0.3 million,
compared to $1.3 million in the second quarter of 2025, due to the
completion of projects with existing customers.
-- Licensing revenue in the second quarter of 2026 was $0.6 million,
compared to $1.1 million in the second quarter of 2025, due to the
decrease in licensing revenue received from LanzaJet for their
sublicensing of our technology.
-- Contract research revenue in the second quarter of 2026 was $1.0
million, consistent with the second quarter of 2025.
-- CarbonSmart revenue was $3.8 million in the second quarter of
2026, consistent with the second quarter of 2025.
Cost of Revenue
-- Cost of revenue was $7.2 million in the second quarter of 2026, compared
to $6.2 million in the second quarter of 2025. The increase reflects a
greater proportion of engineering services and product-related activity
in the current period, particularly CarbonSmart product sales and
customer project execution, resulting in a different revenue and cost mix
than the prior-year period.
Operating Expense
-- For the second quarter of 2026 operating expense was $11.7 million, as
compared to $35.1 million for the same period in the prior year. The
decrease was primarily due to a decrease in personnel and contractor
expenses related to R&D projects and administrative operations,
reflecting headcount reductions implemented during 2025 as part of the
Company's broader cost optimization initiatives. These reductions are
designed to align the Company's cost base with its commercialization
priorities and support its path to profitability.
Net income (loss)
-- Net income for the second quarter of 2026 was $184.3 million, compared
with a net loss of $32.5 million in the second quarter of 2025. The
increase was primarily driven by a $208.1 million non-cash unrealized
gain recognized on the Company's investment in SGLT resulting from the
remeasurement of the investment to fair value following the investee's
public listing and subsequent changes in the quoted market price during
the quarter. The quarter also benefited from the impact of the Company's
transformation, cost optimization and organizational streamlining
initiatives, which reduced operating expenses and contributed to a
significant improvement in Adjusted EBITDA compared with the prior-year
period.
Adjusted EBITDA
-- Adjusted EBITDA loss was $7.6 million as compared to adjusted EBITDA loss
of $29.7 million in the second quarter of 2025. The improvement was
primarily attributable to the benefits of the Company's transformation,
cost optimization and organizational streamlining initiatives implemented
during 2025, which resulted in significantly lower personnel, contractor,
legal and other operating expenses.
Balance Sheet and Liquidity
-- As of June 30, 2026, the Company had $48.9 million in total cash and
restricted cash compared to total cash, restricted cash, and investments
of $17.1 million as of December 31, 2025. The increase reflects our
issuance of common stock for gross proceeds of $50.0 million in the six
months ended June 30, 2026, partially offset by continued use of cash to
fund operating activities and our $3.0 million purchase of LanzaJet
Series A Preferred Stock.
Guidance Update
The Company is reintroducing financial guidance for the third quarter and full year 2026. Management believes improved visibility into business performance, strengthened liquidity, and the substantial progress achieved through transformation initiatives implemented during 2025 support the reintroduction of financial guidance. The guidance ranges below reflect management's current expectations based on existing market conditions and operating assumptions, including continued cost discipline, execution of contracted customer programs, and improved operating performance relative to the transformation period.
$ in millions Third Quarter 2026 Full Year 2026 Revenue $8 - $11 $50 - $55 Operating Expenses $13 - $17 $51 - $55 Adjusted EBITDA $(9) - $(13) $(22) - $(26)
About LanzaTech
LanzaTech (NASDAQ: LNZA) is a leader in carbon management, using its proprietary gas-fermentation platform to transform waste carbon into valuable products. Through global partnerships, LanzaTech enables the production of feedstocks for high-value markets including SAF and chemicals. Headquartered in the U.S., the company provides technology and commercial pathways that strengthen industrial resilience and unlock new economic value from carbon.
Forward-Looking Statements
This press release includes forward-looking statements regarding, among other things, the plans, strategies and prospects, both business and financial, of the Company. These statements are based on the beliefs and assumptions of the Company's management. Although the Company believes that its plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, the Company cannot assure you that it will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events or results of operations, are forward-looking statements. These statements may be preceded by, followed by or include the words "believes," "estimates," "expects," "projects," "forecasts," "may," "will," "should," "seeks," "plans," "scheduled," "anticipates," "intends" or similar expressions. The forward-looking statements are based on projections prepared by, and are the responsibility of, the Company's management. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements, including the Company's ability to continue operations as a going concern; the Company's ability to attract new investors and raise substantial additional financing to fund its operations and/or execute on its other strategic options; delays or interruptions in government contract awards, funding cycles or agency operations (including due to a government shutdown) that could postpone project milestones and defer related revenue recognition; the Company's ability to maintain the listing of its securities on the Nasdaq Stock Market LLC; the Company's ability to execute on its business strategy and achieve profitability; the Company's ability to attract, retain and motivate qualified personnel, the Company's anticipated growth rate and market opportunities; the potential liquidity and trading of the Company's securities; the Company's future financial performance and capital requirements; the Company's assessment of the competitive landscape; the Company's ability to comply with laws and regulations applicable to its business; the Company's ability to enter into, successfully maintain and manage relationships with industry partners; the availability of governmental programs designed to incentivize the production and consumption of low-carbon fuels and carbon capture and utilization; the Company's ability to adequately protect its intellectual property rights; the Company's ability to manage its growth effectively; the Company's ability to increase its revenue from engineering services, sales of equipment packages and sales of CarbonSmart products and to improve its operating results; and the Company's ability to remediate the material weaknesses in its internal control over financial reporting and to maintain effective internal controls. The Company may be adversely affected by other economic, business, or competitive factors, and other risks and uncertainties, including those described under the header "Risk Factors" in its Annual Report on Form 10-K for the year ended December 31, 2025, its Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 and in future SEC filings. New risk factors that may affect actual results or outcomes emerge from time to time and it is not possible to predict all such risk factors, nor can the Company assess the impact of all such risk factors on its business, or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. Forward-looking statements are not guarantees of performance. You should not put undue reliance on these statements, which speak only as of the date hereof. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by the foregoing cautionary statements. The Company undertakes no obligations to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Non-GAAP Financial Measures
To supplement our financial statements presented in accordance with GAAP and to provide investors with additional information regarding our financial results, we have presented Adjusted EBITDA, a non-GAAP financial measure. Adjusted EBITDA is not based on any standardized methodology prescribed by GAAP and is not necessarily comparable to similarly titled measures presented by other companies.
We define Adjusted EBITDA as net income (loss), excluding depreciation expense, interest income, net, stock-based compensation expense, income (loss) from equity method investees, net, unrealized gains and losses arising from the fair value remeasurement, extinguishment, conversion or settlement of financial instruments, including warrant liabilities, the Brookfield SAFE liability, the Brookfield Loan liability, the Convertible Note, and other similar non-cash or non-operating items. We monitor and have presented in this earnings press release Adjusted EBITDA because it is a key measure used by our management and the Board to understand and evaluate our operating performance, to establish budgets, and to develop operational goals for managing our business. We believe Adjusted EBITDA helps identify underlying trends in our business that could otherwise be masked by the effect of certain expenses that we include in net loss. Accordingly, we believe Adjusted EBITDA provides useful information to investors, analysts, and others in understanding and evaluating our operating results and enhancing the overall understanding of our past performance and future prospects.
During the three and six months ended June 30, 2026, Adjusted EBITDA excludes the non-cash unrealized gain recognized upon the remeasurement of the Company's investment in SGLT to fair value.
Adjusted EBITDA is not prepared in accordance with GAAP and should not be considered in isolation of, or as an alternative to, measures prepared in accordance with GAAP. There are a number of limitations related to the use of Adjusted EBITDA rather than net income (loss), which is the most directly comparable financial measure calculated and presented in accordance with GAAP. For example, Adjusted EBITDA: (i) excludes stock-based compensation expense because it is a significant non-cash expense that is not directly related to our operating performance; (ii) excludes depreciation expense and, although this is a non-cash expense, the assets being depreciated and amortized may have to be replaced in the future; (iii) excludes income (loss) on equity method investees, net; and (iv) excludes certain non-cash and non-operating gains and losses, including fair value adjustments associated with investments and financial instruments, which may fluctuate significantly from period to period and may not be indicative of the Company's operating performance. In addition, the expenses and other items that we exclude in our calculations of Adjusted EBITDA may differ from the expenses and other items, if any, that other companies may exclude from Adjusted EBITDA when they report their operating results. In addition, other companies may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison.
LANZATECH GLOBAL INC.
CONSOLIDATED BALANCE SHEETS
(Unaudited, in thousands, except share and per share
data)
June 30, December 31,
2026 2025
----------- --------------
Assets
Current assets:
Cash and cash equivalents $ 44,977 $ 13,164
Trade and other receivables, net of
allowance 9,612 9,527
Contract assets, net of allowance 2,525 6,541
Other current assets 12,129 10,456
--------- ----------
Total current assets 69,243 39,688
Property, plant and equipment, net 15,861 17,128
Right-of-use assets 13,868 14,378
Equity method investment -- 13,272
Equity security investment 223,094 14,990
Other non-current assets 626 751
--------- ----------
Total assets $ 322,692 $ 100,207
========= ==========
Liabilities, Mezzanine Equity and
Shareholders' Equity
Current liabilities:
Accounts payable $ 7,330 $ 10,869
Other accrued liabilities 10,710 10,278
Warrants 6 11
Fixed Maturity Consideration and
current FPA Put Option liability -- 4,123
Contract liabilities 5,853 423
Accrued salaries and wages 2,664 1,843
Current lease liabilities 385 176
Other liabilities 963 --
--------- ----------
Total current liabilities 27,911 27,723
Non-current lease liabilities 15,717 16,388
Non-current contract liabilities 5,725 5,896
FPA Put Option liability -- 30,015
Brookfield Loan liability 12,700 10,900
Other long-term liabilities 3 8
--------- ----------
Total liabilities 62,056 90,930
--------- ----------
Mezzanine Equity
Convertible preferred stock, $0.0001 par
value; 20,000,000 shares authorized as
of June 30, 2026 and December 31, 2025;
0 and 20,000,000 shares issued as of
June 30, 2026 and December 31, 2025,
respectively; and 0 and 20,000,000
shares outstanding as of June 30, 2026
and December 31, 2025, respectively -- 2
Preferred stock - additional paid-in
capital -- 13,167
--------- ----------
Total mezzanine equity -- 13,169
--------- ----------
Shareholders' Equity/(Deficit)
Common stock, $0.0000001 par value,
25,800,000 shares authorized as of June
30, 2026 and December 31, 2025;
13,089,163 and 2,320,511 shares issued
and outstanding as of June 30, 2026 and
December 31, 2025, respectively 23 23
Additional paid-in capital 1,108,713 1,013,195
Accumulated other comprehensive
income 828 1,444
Accumulated deficit (848,928) (1,018,554)
--------- ----------
Total shareholders' equity/(deficit) 260,636 (3,892)
--------- ----------
Total liabilities, mezzanine equity and
shareholders' equity $ 322,692 $ 100,207
========= ==========
LANZATECH GLOBAL INC.
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE
INCOME (LOSS)
(Unaudited, in thousands, except share and per share
data)
Three Months Ended Six Months Ended
June 30, June 30,
------------------------- --------------------------
2026 2025 2026 2025
--------- ---------
Revenues:
Contracts with
customers and
grants $ 4,228 $ 2,766 $ 11,507 $ 5,823
CarbonSmart
product sales 3,842 3,818 7,892 8,022
Collaborative
arrangements 275 1,313 275 2,363
Related party
transactions 669 1,187 1,360 2,359
---------- --------- --------- ---------
Total revenues 9,014 9,084 21,034 18,567
Costs and operating
expenses:
Contracts with
customers and
grants(1) 3,325 2,194 7,534 5,096
CarbonSmart
product
sales(1) 3,778 3,732 7,837 7,868
Collaborative
arrangements(1) 77 283 77 744
Related party
transactions(1) 32 21 55 35
Research and
development
expense 1,963 14,935 5,971 31,429
Depreciation
expense 962 1,054 1,901 1,835
Selling, general
and
administrative
expense 8,750 19,106 17,343 34,854
---------- --------- --------- ---------
Total cost and
operating
expenses 18,887 41,325 40,718 81,861
---------- --------- --------- ---------
Loss from operations (9,873) (32,241) (19,684) (63,294)
Other income
(expense):
Interest income,
net 105 192 209 630
Fair value gain
on equity
securities 208,104 -- 208,104 --
Other income
(expense), net (1,118) 2,885 (1,541) 20,803
---------- --------- --------- ---------
Total other
income
(expense),
net 207,091 3,077 206,772 21,433
Loss from equity
method investees,
net (12,913) (3,335) (17,462) (9,867)
---------- --------- --------- ---------
Net income (loss) $ 184,305 $ (32,499) $ 169,626 $ (51,728)
========== ========= ========= =========
Other comprehensive
loss:
Changes in
credit risk of
fair value
instruments (700) (1,605) (700) 1,091
Foreign currency
translation
adjustments 92 (313) 84 (754)
---------- --------- --------- ---------
Comprehensive income
(loss) $ 183,697 $ (34,417) $ 169,010 $ (51,391)
========== ========= ========= =========
Net income (loss)
per common share -
basic $ 15.81 $ (14.90) $ 17.00 $ (24.94)
---------- --------- --------- ---------
Net income (loss)
per common share -
diluted $ 15.81 $ (14.90) $ 17.00 $ (24.94)
Weighted-average
number of common
shares outstanding
- basic(2) 11,660,592 2,181,217 9,975,931 2,073,777
========== ========= ========= =========
Weighted-average
number of common
shares outstanding
- diluted(2) 11,660,592 2,181,217 9,975,931 2,073,777
(1) Exclusive of depreciation
(2) All common stock share and per share data for
all periods prior to the quarterly period ending September
30, 2025 have been retroactively adjusted to reflect
the 1-for-100 reverse stock split of the Company's
common stock and the decrease in the par value of
the Company's common stock from $0.0001 to $0.0000001
per share which became effective on August 18, 2025.
LANZATECH GLOBAL, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited, in thousands)
Six Months Ended June 30,
-------------------------------
2026 2025
---------
Cash Flows From Operating Activities:
Net income (loss) $ 169,626 $ (51,728)
Adjustments to reconcile net income
(loss) to net cash used in operating
activities:
Share-based compensation expense 2,066 4,556
Gain on change in fair value of
SAFE and warrant liabilities (5) (3,184)
Loss on change in fair value of the
Amended Brookfield Loan 1,800 12,445
Gain/Loss on change in fair value
of the equity securities (208,104) --
Loss on Brookfield SAFE
extinguishment -- 6,216
Change in fair value of Convertible
Note -- (42,980)
Gain on change in fair value of
PIPE Warrant liability -- 3,400
Gain on partial lease termination -- (60)
Provisions for losses on trade and
other receivables and contract
assets, net of recoveries (518) 126
Depreciation of property, plant and
equipment 1,901 1,835
Amortization of discount on debt
security investment -- (34)
Non-cash lease expense 510 917
Non-cash recognition of licensing
revenue (1,091) (2,214)
Loss from equity method investees,
net 17,462 9,867
Loss from disposal of property,
plant and equipment 43 --
Unrealized (Gain)/Loss on net
foreign exchange (314) 649
Changes in operating assets and
liabilities:
Accounts receivable, net 496 2,334
Contract assets 3,875 11,231
Accrued interest on debt investment -- (83)
Other assets (1,627) 1,377
Accounts payable and accrued
salaries and wages (2,750) (882)
Contract liabilities 5,430 61
Operating lease liabilities 498 (877)
Other liabilities 46 4,213
----------- ---------
Net cash used in operating
activities (10,656) (42,815)
----------- ---------
Cash Flows From Investing Activities:
Purchase of property, plant and
equipment (731) (879)
Purchase of additional LanzaJet equity
method investment (3,000) --
Proceeds from maturity of debt
securities -- 12,408
----------- ---------
Net cash (used in) provided by
investing activities (3,731) 11,529
----------- ---------
Cash Flows From Financing Activities:
Proceeds from issuance of common
stock 50,000 15,050
Issuance costs related to preferred
stock and PIPE Warrant -- (1,881)
Settlement of Forward Purchase
Agreement (2,000) --
Issuance costs related to funding (1,859) --
Partial settlement of the
Brookfield Loan -- (12,500)
Proceeds from PIPE Warrant -- 24,950
----------- ---------
Net cash provided by financing
activities 46,141 25,619
Effects of currency translation on
cash, cash equivalents and restricted
cash 98 (425)
----------- ---------
Net increase (decrease) in cash, cash
equivalents and restricted cash 31,852 (6,092)
Cash, cash equivalents and restricted
cash at beginning of period 17,051 45,737
----------- ---------
Cash, cash equivalents and restricted
cash at end of period $ 48,903 $ 39,645
=========== =========
Supplemental disclosure of non-cash
investing and financing activities:
Acquisition of property, plant and
equipment under accounts payable $ 32 $ 106
Issuance of the Brookfield Loan -- 6,216
Cashless issuance of equity for
Convertible Notes -- 8,132
Non-cash change in lease liability on
partial termination -- 13,025
Non-cash change in ROU assets on
partial termination -- (13,085)
LANZATECH GLOBAL INC.
Reconciliation of Net Income (Loss) to Adjusted EBITDA
(Unaudited, in thousands)
Three Months Ended Six Months Ended
June 30, June 30,
--------------------- -----------------------
2026 2025 2026 2025
------- -------
Net income
(loss) $ 184,305 $(32,499) $ 169,626 $(51,728)
Depreciation 962 1,054 1,901 1,835
Interest
income, net (105) (192) (209) (630)
Stock-based
compensation
expense and
change in fair
value of
warrant
liabilities(1) 738 2,024 2,061 1,372
Loss on
Brookfield
SAFE
extinguishment -- -- -- 6,216
Change in fair
value of
Convertible
Note and
related
transaction
costs -- (7,837) -- (42,980)
Change in fair
value of PIPE
Warrant -- 3,400 -- 3,400
Change in fair
value of the
Brookfield
Loan (net of
interest
accretion
reversal) 1,700 1,019 1,800 12,445
Change in fair
value of the
equity
securities (208,104) -- (208,104) --
Loss from
equity method
investees,
net 12,913 3,335 17,462 9,867
-------- ------- -------- -------
Adjusted EBITDA $ (7,591) $(29,696) $ (15,463) $(60,203)
======== ======= ======== =======
(1) Stock-based compensation expense represents expense
related to equity compensation plans.
Investor Relations Contact:
lnza@alpha-ir.com
Public Relations/Media Contact:
Freya Burton
freya@lanzatech.com