LNZAW LanzaTech Global, Inc. - Warrant
NASDAQ · View on SEC EDGAR ↗ close Oct 1, 2026 10-K/10-Q Aug 14, 2026
$0.01
· of 52w range
· above low
· to high
$0.0152w low
$0.0252w high
Market Cap (MRQ)
$137.4K
P/E (TTM)
-0.0
EPS (TTM)
$-7.98
Revenue (TTM)
$58M
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52W Range
$0–$0
Analyst Rating
·
Price Target
·
P/E
-0.0
ROE
146.4%
Net Profit Margin
295.7%
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LNZAW Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$0.01
Market Cap (MRQ)
$137.4K
P/E (TTM)
-0.0
EPS (TTM)
$-7.98
Revenue (TTM)
$58M
ROE (TTM)
146.4%
52W Range
$0–$0
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue$56M2022-12-31 → 2025-12-31
EPS$-22.272022-12-31 → 2025-12-31
Free Cash Flow$-66M2023-12-31 → 2025-12-31
Net margin295.7%2023-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | LNZAW | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | -0.0 | · | · | · | |
| P/S (TTM) | 0.0 | · | · | · | |
| P/B (MRQ) | 0.0 | · | · | · | |
| Price / FCF (TTM) | -0.0 | · | · | · | |
| Price / Cash Flow (TTM) | -0.0 | · | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | LNZAW | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin (TTM) | -61.0% | · | · | · | |
| EBITDA Margin | -141.7% | · | · | · | |
| Net Profit Margin (TTM) | 295.7% | · | · | · | |
| ROA (TTM) | 78.5%5Y avg ≈-33.2% | ≈-33.2% | · | · | |
| ROE (TTM) | 146.4%5Y avg ≈75.3% | ≈75.3% | · | · |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | LNZAW | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Current Ratio (MRQ) | 2.55Y avg ≈2.9 | ≈2.9 | · | · | |
| Quick Ratio | 0.55Y avg ≈1.2 | ≈1.2 | · | · |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | LNZAW | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 12.6%5Y avg ≈19.8% | ≈19.8% | · | · | |
| Revenue CAGR 3Y | 14.4% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | LNZAW | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.4 | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue | $56M | $50M | $63M | $37M | |
| R&D Expense | $53M | $77M | $68M | $53M | |
| SG&A Expense | $47M | $50M | $50M | $27M | |
| Operating Expenses | $135M | $159M | $169M | $113M | |
| Operating Income | $-79M | $-109M | $-106M | $-76M | |
| Other Non-op | $42M | $-18M | $-29M | $-3M | |
| Pretax Income | · | $-123M | $-131M | $-78M | |
| Income Tax | $0 | $0 | $0 | $0 | |
| Net Income | $-49M | $-138M | $-134M | $-76M | |
| EPS (Basic) | $-22.27 | $-69.71 | $-0.79 | $-12.37 | |
| EPS (Diluted) | $-22.27 | $-69.71 | $-0.79 | $-12.37 | |
| Shares (Basic) | 2,197,935 | 1,975,799 | 176,023,219 | 9,302,080 | |
| Shares (Diluted) | 2,197,935 | 1,975,799 | 176,023,219 | 9,302,080 | |
| EBITDA | $-79M | · | $-106M | $-6M |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Cash & Equivalents | $13M | $43M | $76M | $83M | |
| Short-term Investments | · | · | · | $0 | |
| Inventory | $684.0K | $2M | $2M | $1M | |
| Prepaid Expense | $2M | $3M | $4M | $3M | |
| Other Current Assets | $10M | $15M | $13M | $11M | |
| Current Assets | $40M | $99M | $173M | $124M | |
| PP&E (Net) | $17M | $22M | $23M | $20M | |
| PP&E (Gross) | $58M | $60M | $55M | $47M | |
| Accum. Depreciation | $41M | $38M | $32M | $27M | |
| Other Non-current Assets | $751.0K | $7M | $6M | $750.0K | |
| Total Assets | $100M | $175M | $242M | $177M | |
| Accounts Payable | $11M | $5M | $4M | $7M | |
| Current Liabilities | $28M | $30M | $28M | $56M | |
| Capital Leases | $16M | $31M | $20M | $7M | |
| Other Non-current Liabilities | $8.0K | $587.0K | $1M | $2M | |
| Total Liabilities | $91M | $161M | $127M | $125M | |
| Total Debt | · | · | $25M | · | |
| Common Stock | $23.0K | $19.0K | $19.0K | $1.0K | |
| Paid-in Capital | $1.01B | $982M | $944M | $25M | |
| Retained Earnings | $-1.02B | $-970M | $-832M | $-456M | |
| AOCI | $1M | $1M | $2M | $3M | |
| Stockholders' Equity | $-4M | $13M | $114M | $-429M | |
| Liabilities + Equity | $100M | $175M | $242M | $177M | |
| Shares Outstanding | 2,320,511 | 1,949,157 | 1,966,425 | 10,422,051 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Stock-based Comp | $7M | $13M | $15M | $3M | |
| Deferred Tax | $0 | $0 | $0 | $0 | |
| Operating Cash Flow | $-65M | $-89M | $-97M | $-85M | |
| CapEx | $1M | $5M | $9M | $11M | |
| Investing Cash Flow | $11M | $28M | $-58M | $-11M | |
| Net Debt Issued | $-12M | · | · | · | |
| Financing Cash Flow | $26M | $30M | $148M | $51M | |
| Net Change in Cash | $-29M | $-31M | $-7M | $-336.7K | |
| Free Cash Flow | $-66M | · | $-106M | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Operating Margin | -141.7% | · | -169.8% | · | |
| Net Margin | -87.7% | · | -214.1% | · | |
| Pretax Margin | · | · | -209.5% | · | |
| EBITDA Margin | -141.7% | · | -169.8% | · | |
| ROA | -35.6% | · | -64.1% | · | |
| ROE | 336.7% | · | -110.4% | · | |
| ROIC | · | · | -76.2% | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Current Ratio | 1.4 | · | 6.2 | · | |
| Quick Ratio | 0.5 | · | 2.7 | · | |
| Debt / Equity | · | · | 0.2 | · | |
| LT Debt / Equity | · | · | 0.2 | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Asset Turnover | 0.4 | · | 0.3 | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Book Value / Share | $-1.68 | · | $0.58 | · | |
| Revenue / Share | $25.41 | · | $0.36 | · | |
| Cash Flow / Share | $-29.51 | · | $-0.55 | · | |
| Cash / Share | $5.67 | · | $0.38 | · | |
| EPS (TTM) | $-22.27 | $-69.71 | $-0.79 | $-12.37 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue YoY | 12.6% | -20.8% | 67.7% | · | |
| Revenue CAGR 3Y | 14.4% | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue TTM | $56M | $50M | $63M | $37M | |
| Net Income TTM | $-49M | $-138M | $-134M | $-76M |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9M | $12M | $28M | $9M | $9M | $9M | $12M | $10M | $17M | $10M | $20M | $20M | $13M | $10M | $12M | $8M | |
| R&D Expense | $2M | $4M | $12M | $10M | $15M | $16M | $16M | $22M | $21M | $17M | $16M | $17M | $19M | $16M | $13M | $14M | |
| SG&A Expense | $9M | $9M | $5M | $7M | $19M | $16M | $16M | $11M | $12M | $11M | $9M | $12M | $12M | $17M | $7M | $7M | |
| Operating Expenses | $19M | $22M | $28M | $25M | $41M | $41M | $39M | $43M | $40M | $36M | $39M | $44M | $44M | $42M | $31M | $29M | |
| Operating Income | $-10M | $-10M | $-205.0K | $-16M | $-32M | $-31M | $-27M | $-33M | $-23M | $-26M | $-19M | $-25M | $-31M | $-33M | $-19M | $-21M | |
| Other Non-op | $-1M | $-423.0K | $2M | $18M | $3M | $18M | $6M | $-20M | $-4M | $179.0K | $524.0K | $-2M | $2M | $-30M | $-2M | $-1M | |
| Pretax Income | · | · | · | · | · | $-13M | · | $-52M | $-26M | $-25M | $-17M | $-25M | $-27M | $-63M | $-34M | $-22M | |
| Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Net Income | $184M | $-15M | $-84.0K | $3M | $-32M | $-19M | $-27M | $-57M | $-28M | $-26M | $-19M | $-25M | $-27M | $-63M | $-21M | $-22M | |
| EPS (Basic) | $15.81 | $-1.77 | $-23.16 | $1.14 | $-14.90 | $-9.79 | $-40.40 | $-29.04 | $-0.14 | $-0.13 | $0.06 | $-0.13 | $-0.14 | $-0.58 | $-3.28 | $-3.47 | |
| EPS (Diluted) | $15.81 | $-1.77 | $-23.01 | $0.99 | $-14.90 | $-9.79 | $-40.40 | $-29.04 | $-0.14 | $-0.13 | $0.06 | $-0.13 | $-0.14 | $-0.58 | $-3.28 | $-3.47 | |
| Shares (Basic) | 11,660,592 | 8,272,551 | · | 2,320,018 | 2,181,217 | 1,965,143 | · | 1,977,734 | 197,746,569 | 196,974,508 | · | 195,869,537 | 195,537,601 | 116,530,963 | · | 9,229,781 | |
| Shares (Diluted) | 11,660,592 | 8,272,551 | · | 2,663,193 | 2,181,217 | 1,965,143 | · | 1,977,734 | 197,746,569 | 196,974,508 | · | 195,869,537 | 195,537,601 | 116,530,963 | · | 9,229,781 | |
| EBITDA | $-10M | $-10M | · | $-16M | $-32M | $-31M | · | $-33M | $-23M | $-26M | · | $-25M | $-31M | $-33M | · | $-1M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $45M | $20M | $13M | $20M | $37M | $14M | $43M | $59M | $62M | $57M | $76M | $91M | $111M | $145M | $83M | $7.3K | |
| Short-term Investments | · | · | · | · | · | · | · | · | · | · | · | · | $50M | $49M | · | · | |
| Inventory | · | · | $684.0K | · | · | · | $2M | · | · | · | $2M | · | · | · | $1M | · | |
| Prepaid Expense | · | · | $2M | · | · | · | $3M | · | · | · | $4M | · | · | · | $3M | $277.8K | |
| Other Current Assets | $12M | $11M | $10M | $13M | $14M | $14M | $15M | $16M | $15M | $15M | $13M | $17M | $19M | $19M | $11M | · | |
| Current Assets | $69M | $48M | $40M | $51M | $66M | $58M | $99M | $137M | $125M | $147M | $173M | $177M | $209M | $241M | $124M | $285.1K | |
| PP&E (Net) | $16M | $16M | $17M | $18M | $19M | $20M | $22M | $22M | $23M | $23M | $23M | $23M | $22M | $20M | $20M | · | |
| PP&E (Gross) | · | · | $58M | · | · | · | $60M | · | · | · | $55M | · | · | · | $47M | · | |
| Accum. Depreciation | · | · | $41M | · | · | · | $38M | · | · | · | $32M | · | · | · | $27M | · | |
| Other Non-current Assets | $626.0K | $671.0K | $751.0K | $830.0K | $910.0K | $4M | $7M | $6M | $6M | $6M | $6M | $6M | $6M | $300.0K | $750.0K | · | |
| Total Assets | $323M | $105M | $100M | $99M | $116M | $126M | $175M | $216M | $212M | $214M | $242M | $246M | $269M | $292M | $177M | $151M | |
| Accounts Payable | $7M | $10M | $11M | $6M | $4M | $6M | $5M | $3M | $4M | $2M | $4M | $6M | $11M | $12M | $7M | $2M | |
| Accrued Liabilities | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $2M | $1M | |
| Current Liabilities | $28M | $24M | $28M | $25M | $56M | $27M | $30M | $47M | $28M | $21M | $28M | $34M | $33M | $34M | $56M | $4M | |
| Capital Leases | $16M | $16M | $16M | $17M | $17M | $30M | $31M | $29M | $29M | $19M | $20M | $5M | $6M | $6M | $7M | · | |
| Other Non-current Liabilities | $3.0K | $4.0K | $8.0K | $514.0K | $513.0K | $512.0K | $587.0K | $608.0K | $654.0K | $1M | $1M | $2M | $2M | $2M | $2M | · | |
| Total Liabilities | $62M | $57M | $91M | $91M | $128M | $127M | $161M | $203M | $144M | $123M | $127M | $118M | $117M | $123M | $125M | $6M | |
| Total Debt | · | · | · | · | · | · | · | · | $9M | $15M | · | $23M | $34M | $19M | · | · | |
| Common Stock | $23.0K | $23.0K | $23.0K | $23.0K | $23.0K | $19.0K | $19.0K | $19.0K | $19.0K | $19.0K | $19.0K | $19.0K | $19.0K | $19.0K | $1.0K | · | |
| Paid-in Capital | $1.11B | $1.08B | $1.01B | $1.01B | $994M | $984M | $982M | $954M | $950M | $947M | $944M | $940M | $936M | $928M | $25M | $0 | |
| Retained Earnings | $-849M | $-1.03B | $-1.02B | $-1.02B | $-1.02B | $-989M | $-970M | $-943M | $-885M | $-857M | $-832M | $-813M | $-788M | $-761M | $-456M | $-5M | |
| AOCI | $828.0K | $1M | $1M | $2M | $2M | $4M | $1M | $2M | $2M | $2M | $2M | $2M | $3M | $3M | $3M | · | |
| Stockholders' Equity | $261M | $48M | $-4M | $-5M | $-25M | $-1M | $13M | $14M | $68M | $92M | $114M | $128M | $151M | $169M | $-429M | $-5M | |
| Liabilities + Equity | $323M | $105M | $100M | $99M | $116M | $126M | $175M | $216M | $212M | $214M | $242M | $246M | $269M | $292M | $177M | $151M | |
| Shares Outstanding | 13,089,163 | 10,089,163 | 2,320,511 | 2,319,960 | 231,995,967 | 197,897,580 | 1,949,157 | 197,782,055 | 197,765,067 | 197,725,477 | 196,642,451 | 196,055,228 | 195,674,502 | 195,451,596 | 10,422,051 | · |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $739.0K | $1M | $1M | $1M | $2M | $2M | $3M | $4M | $4M | $3M | $3M | $3M | $5M | $4M | $460.0K | $653.0K | |
| Operating Cash Flow | $-1M | $-9M | $-6M | $-16M | $-22M | $-21M | $-20M | $-26M | $-15M | $-28M | $-16M | $-22M | $-25M | $-34M | $-13M | $-71M | |
| CapEx | $676.0K | $55.0K | $211.0K | $168.0K | $166.0K | $713.0K | $2M | $289.0K | $2M | $1M | $1M | $2M | $4M | $1M | $4M | $2M | |
| Investing Cash Flow | $-2M | $-2M | $-211.0K | $-168.0K | $7M | $4M | $14M | $-15M | $20M | $9M | $-1M | $64M | $51M | $-50M | $-4M | $-7M | |
| Net Debt Issued | · | $0 | · | · | · | $-12M | · | · | · | · | · | · | · | · | · | · | |
| Stock Issued | $30M | $20M | · | · | $15M | $0 | · | · | · | · | · | · | · | · | · | · | |
| Net Stock Activity | · | $20M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $28M | $18M | $0 | $0 | $38M | $-12M | $-10M | $40M | $38.0K | $186.0K | $913.0K | $-60M | $-60M | $146M | $51M | $16.0K | |
| Net Change in Cash | $25M | $7M | $-6M | $-16M | $24M | $-30M | $-15M | $-2M | $5M | $-19M | · | · | · | · | · | $-500 | |
| Free Cash Flow | · | $-9M | · | · | · | $-22M | · | · | · | $-30M | · | · | · | $-35M | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -109.5% | -81.6% | · | -168.7% | -354.9% | -327.5% | · | -331.5% | -131.2% | -255.3% | · | -125.4% | -237.0% | -337.2% | · | · | |
| Net Margin | 2044.7% | -122.1% | · | 30.8% | -357.8% | -202.8% | · | -577.6% | -160.0% | -249.0% | · | -129.2% | -207.4% | · | · | · | |
| Pretax Margin | · | · | · | · | · | -133.9% | · | -521.9% | -150.1% | -242.4% | · | -126.8% | -208.4% | · | · | · | |
| EBITDA Margin | -109.5% | -81.6% | · | -168.7% | -354.9% | -327.5% | · | -331.5% | -131.2% | -255.3% | · | -125.4% | -237.0% | -337.2% | · | · | |
| ROA | 84.0% | -12.7% | · | 1.8% | -19.8% | -11.3% | · | -24.8% | -11.6% | -10.1% | · | -12.7% | -12.8% | · | · | 0.82% | |
| ROE | 156.5% | -62.6% | · | 66.3% | -153.5% | -42.4% | · | -80.8% | -25.4% | -19.5% | · | -41.0% | -38.2% | · | · | -16.1% | |
| ROIC | · | · | · | · | · | 2645.1% | · | · | -29.7% | -24.4% | · | -16.2% | -16.5% | · | · | 19.4% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.5 | 2.0 | · | 2.0 | 1.2 | 2.2 | · | 2.9 | 4.4 | 6.9 | · | 5.3 | 6.4 | 7.1 | · | 0.1 | |
| Quick Ratio | 1.6 | 0.8 | · | 0.8 | 0.7 | 0.5 | · | 1.3 | 2.2 | 2.7 | · | 2.7 | 4.9 | 5.7 | · | 0.0 | |
| Debt / Equity | · | · | · | · | · | · | · | · | 0.1 | 0.2 | · | 0.2 | 0.2 | 0.1 | · | · | |
| LT Debt / Equity | · | · | · | · | · | · | · | · | 0.1 | 0.2 | · | 0.2 | 0.2 | 0.1 | · | · |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.0 | 0.1 | 0.0 | · | 0.1 | 0.1 | 0.0 | · | · |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $19.91 | $4.76 | · | $-2.15 | $-0.11 | $-0.01 | · | $0.07 | $0.34 | $0.46 | · | $0.66 | $0.77 | $0.87 | · | · | |
| Revenue / Share | $0.77 | $1.45 | · | $3.48 | $0.04 | $0.05 | · | $0.05 | $0.09 | $0.05 | · | $0.10 | $0.07 | $0.08 | · | · | |
| Cash Flow / Share | · | $-1.12 | · | · | · | $-0.11 | · | · | · | $-0.14 | · | · | · | $-0.29 | · | · | |
| Cash / Share | $3.44 | $1.97 | · | $8.46 | $0.16 | $0.07 | · | $0.30 | $0.31 | $0.29 | · | $0.47 | $0.57 | $0.74 | · | · | |
| EPS (TTM) | $-7.98 | $-38.69 | · | $-64.10 | $-94.13 | $-79.37 | · | $-29.25 | $-0.34 | $-0.34 | · | $-4.13 | $-7.47 | $-10.10 | $-12.37 | · |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $58M | $58M | · | $40M | $41M | $49M | · | $58M | $68M | $63M | · | $54M | $42M | $39M | $37M | · | |
| Net Income TTM | $172M | $-44M | · | $-76M | $-136M | $-131M | · | $-129M | $-97M | $-96M | · | $-137M | $-134M | $-123M | $-76M | $-55M | |
| Market Cap | $174.1K | $134.2K | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| P/E | -0.0 | -0.0 | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| P/S | 0.0 | 0.0 | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| P/B | 0.0 | 0.0 | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| P / Tangible Book | 0.0 | 0.0 | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| P / Cash Flow | · | -0.0 | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Earnings Yield | -60000.0% | -290902.3% | · | · | · | · | · | · | · | · | · | · | · | · | · | · |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $56M | $50M | $63M | $37M | · |
| Operating Margin % | -141.7% | · | -169.8% | · | · |
| Net Income | $-49M | $-138M | $-134M | $-76M | $46.7K |
| Diluted EPS | $-22.27 | $-69.71 | $-0.79 | $-12.37 | · |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Debt / Equity | · | · | 0.2 | · | · |
| Current Ratio | 1.4 | · | 6.2 | · | 0.9 |
| Quick Ratio | 0.5 | · | 2.7 | · | 0.5 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $-66M | · | $-106M | · | · |
Institutional owners (13F) 11 filers · $20K total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
11
Value held
$20K
New positions
2
Exited positions
2
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 2 (+2 vs prior Q) | 2 (+1 vs prior Q) | 1 (-1 vs prior Q) | 0 (-1 vs prior Q) | +314K |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| Davidson Kempner Capital Management LP | $5,662 | 374,999 | 28.26% | Shares |
| MILLENNIUM MANAGEMENT LLC | $4,152 | 275,000 | 20.73% | Call option |
| Calamos Advisors LLC | $4,050 | 300,000 | 20.22% | Shares |
| TENOR CAPITAL MANAGEMENT Co., L.P. | $3,554 | 235,341 | 17.74% | Shares |
| LMR Partners LLP | $998 | 66,083 | 4.98% | Shares |
| TORONTO DOMINION BANK | $769 | 51,271 | 3.84% | Shares |
| WOLVERINE ASSET MANAGEMENT LLC | $658 | 43,603 | 3.28% | Shares |
| CLEAR STREET LLC | $120 | 4,544 | 0.60% | Shares |
| Clear Street Group Inc. | $67 | 4,444 | 0.33% | Shares |
| Q Global Advisors, LLC | $2 | 106,974 | 0.01% | Shares |
| HRT FINANCIAL LP | $0 | 11,267 | 0.00% | Shares |
Activists & 5%+ owners 1 position
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Carbon Direct Fund II Blocker I LLC, Carbon Direct II GP LLC, Carbon Direct Capital Management LLC, Jonathan Goldberg ×2 filings | April 4, 2025 | 18.50% | Amendment | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 20 insiders · 14 officers · 7 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Jennifer Holmgren | Chief Executive Officer | April 5, 2024 A | 3,224,703 | 0 | 0 | $0 |
| Geoffrey Trukenbrod | Chief Financial Officer | April 5, 2024 A | 16,095 | 0 | 0 | $0 |
| Calad Aura Maria Cuellar | President | May 2, 2024 M | 7,052 | 0 | 0 | $0 |
| Carl Wolf | Chief Operating Officer | March 6, 2024 M | 18,456 | 0 | 0 | $0 |
| Chad Thompson | Chief People Officer | April 5, 2024 A | 17,587 | 0 | 0 | $0 |
| Zarath Summers | Chief Science Officer | April 5, 2024 A | 30,627 | 0 | 0 | $0 |
| Michael Kopke | Chief Innovation Officer | April 5, 2024 A | 54,772 | 0 | 0 | $0 |
| Robert Conrado | Chief Technology Officer | April 5, 2024 A | 12,522 | 0 | 0 | $0 |
| George Dimitrov | Vice President, Finance | April 5, 2024 A | 31,451 | 0 | 0 | $0 |
| Freya Burton | Chief Sustainability Officer | April 5, 2024 A | 10,000 | 0 | 0 | $0 |
| Joseph Blasko | General Counsel | April 5, 2024 A | 11,782 | 0 | 0 | $0 |
| Johanna Haggstrom | VP, Chemicals & HC Fuels Tech | March 6, 2024 M | 7,035 | 0 | 0 | $0 |
| Julie Zarraga | EVP, Engineering | March 6, 2024 M | 6,540 | 0 | 0 | $0 |
| Steven F Stanley | Chief Commercial Officer | March 6, 2024 M | 9,482 | 0 | 0 | $0 |
| James A Messina | Director | April 6, 2024 A | 504,924 | 0 | 0 | $0 |
| Nigel Gormly | Director | April 6, 2024 A | 20,000 | 0 | 0 | $0 |
| Dorri Mcwhorter | Director | April 6, 2024 A | 20,000 | 0 | 0 | $0 |
| Nimesh Patel | Director | April 6, 2024 A | · | 0 | 0 | $0 |
| Barbara M Byrne | Director | April 6, 2024 A | 20,000 | 0 | 0 | $0 |
| Gary E Rieschel | Director | April 6, 2024 A | 20,000 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
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Source: SEC 10-Q filed Aug 14, 2026