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LNZA

LanzaTech Global, Inc.

LNZA

LanzaTech Global, Inc. • NASDAQ
$14.24 ▲ 19.26% (+2.30)
Market Cap $3.31 B
52w High $274.00
52w Low $11.20
Dividend Yield 0%
P/E -0.39
Volume 6.81K
Outstanding Shares 232.09M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $9.279M ▲ $16.995M ▼ $2.861M ▲ 30.833% ▲ $1.135 ▲ $-15.657M ▲
Q2-2025 $9.084M ▼ $34.041M ▲ $-32.499M ▼ -357.761% ▼ $-14.899 ▼ $-28.11M ▲
Q1-2025 $9.483M ▼ $33.023M ▼ $-19.229M ▲ -202.773% ▲ $-9.785 ▲ $-30.272M ▼
Q4-2024 $12.03M ▲ $33.482M ▼ $-26.993M ▲ -224.381% ▲ $-13.849 ▲ $-25.717M ▲
Q3-2024 $9.943M $34.759M $-57.431M -577.602% $-29.039 $-31.656M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $19.627M ▼ $99.29M ▼ $104.268M ▼ $-4.978M ▲
Q2-2025 $37.367M ▲ $116.296M ▼ $141.48M ▲ $-25.184M ▼
Q1-2025 $21.189M ▼ $125.835M ▼ $127.009M ▼ $-1.174M ▼
Q4-2024 $55.873M ▼ $174.683M ▼ $161.236M ▼ $13.447M ▼
Q3-2024 $86.862M $216.216M $202.611M $13.605M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-51.159M ▼ $-15.877M ▲ $-168K ▼ $-163.764M ▼ $-16.143M ▼ $-16.045M ▲
Q2-2025 $21.521M ▲ $-21.714M ▼ $7.242M ▲ $38.119M ▲ $23.611M ▲ $-21.88M ▼
Q1-2025 $-19.229M ▲ $-21.101M ▼ $4.287M ▼ $-12.5M ▼ $-29.703M ▼ $-21.814M ▼
Q4-2024 $-26.993M ▲ $-19.676M ▲ $14.222M ▲ $-10.011M ▼ $-15.23M ▼ $-21.431M ▲
Q3-2024 $-57.431M $-26.442M $-15.372M $40M $-1.924M $-26.731M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Engineering and Other Services
Engineering and Other Services
 $10.00M ▲$0 ▼$0 ▲$0 ▲
License and Service
License and Service
 $0 ▲$0 ▲$0 ▲$0 ▲
Research And Development
Research And Development
 $10.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement LanzaTech looks like an early‑stage, highly innovative company that is still very much in the investment phase. Revenue is very small and has grown off a low base, with some recent softening that seems tied to project timing rather than an established, recurring stream. Gross profit is positive but modest, and operating results are deeply negative, reflecting heavy spending on research, commercialization, and overhead. Losses have widened over time, and earnings per share have swung sharply, partly due to SPAC‑related and capital structure effects, rather than underlying business stability. Overall, the income statement shows promising technology but an unproven, unprofitable business model so far.

Balance Sheet

Balance Sheet The balance sheet shows a company that once had a comfortable cash cushion after its SPAC listing but has been drawing it down steadily. Total assets peaked and then declined, with cash now a much smaller portion than it was a few years ago. Debt has increased from very low levels, and shareholder equity has eroded significantly as losses accumulated, leaving the company more thinly capitalized. This combination—less cash, more debt, and a slimmer equity base—highlights a more fragile financial position and a higher dependence on either future financing or a rapid improvement in operating performance.

Cash Flow

Cash Flow Cash flow paints a clear picture of a business still consuming, not generating, cash. Operating cash flow has been consistently negative, and free cash flow is also firmly in the red each year. Capital spending itself is not very large, but the core operations do not yet fund themselves, so the company relies on outside capital to bridge the gap. Unless operating cash burn narrows meaningfully, LanzaTech will likely remain sensitive to funding conditions, project milestones, and partner payments, making cash management a central risk factor.

Competitive Edge

Competitive Edge Competitively, LanzaTech stands out for its niche: turning waste gases into useful fuels and chemicals. It appears to have a real technological head start, supported by patents, specialized microbes, and years of operational experience with industrial partners. Its capital‑light licensing and partnership model is attractive in theory, because partners fund most of the heavy infrastructure while LanzaTech earns fees and royalties. Ties to major steel, energy, and aviation players, plus the link to LanzaJet for sustainable aviation fuel, strengthen its strategic position. The flip side is that success depends heavily on partners executing large, complex projects, on supportive policy for low‑carbon fuels, and on competing carbon‑reduction technologies not leapfrogging its approach.

Innovation and R&D

Innovation and R&D Innovation is clearly the core of LanzaTech’s identity. The company has built a sophisticated synthetic biology platform, is developing a broader range of chemicals, exploring protein products, and enabling sustainable aviation fuel through its ecosystem of affiliates and partners. This breadth of R&D creates many potential revenue streams, from licensing microbes and processes to supplying ethanol or other products directly. Recent moves to narrow focus, trim the workforce, and prioritize waste‑to‑SAF projects suggest a shift from “experiment widely” toward “scale what works,” which could improve discipline but may also slow some longer‑tail innovation. Overall, the R&D engine is a major asset—but it is costly and, so far, not yet matched by commercial scale.

Summary

Putting it all together, LanzaTech is a classic high‑innovation, high‑risk profile. On one side, it has a distinctive technology, real industrial partnerships, and positions itself in large, policy‑supported markets like sustainable fuels and carbon recycling. On the other side, the financials show a company with tiny revenue, persistent losses, ongoing cash burn, and a balance sheet that has weakened since its SPAC debut. Execution on large projects, policy stability, partner performance, and access to capital will likely determine whether its scientific lead can turn into a sustainable, profitable business. For now, it remains an early‑stage, mission‑driven industrial biotech story with meaningful upside potential but very elevated business and financial risk.

NEWS

November 13, 2025 · 10:00 AM UTC

World's First Commercial Ethanol-to-Jet Fuel Plant Operational

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November 5, 2025 · 4:30 PM UTC

LanzaTech Secures €40 Million EU Innovation Fund Grant for first-of-its-kind integrated CCUS project in Norway

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October 23, 2025 · 4:30 PM UTC

LanzaTech Reaffirms Importance of LanzaJet through Amended and Restated LanzaJet Agreements that Enable the Acceleration of Sustainable Aviation Fuel Commercialization

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