The following is a summary of the Aemetis, Inc. (AMTX) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Aemetis reported a revenue of $81.4 million in Q3 2024, an increase from $68.7 million in Q3 2023.

• Gross profit in Q3 2024 was $3.9 million, up from $492,000 in Q3 2023.

• Operating loss improved to $3.9 million in Q3 2024 from an operating loss of $8.5 million in Q3 2023.

• Net loss was $17.9 million in Q3 2024, mainly due to a one-time sale of investment tax credits in September 2023.

Business Progress:

• Aemetis is finalizing the sale of investment tax credits with expected net cash proceeds of about $11.5 million this month and plans to sell an additional $10 million of tax credits in Q1 2025.

• The company plans to operate 16 dairies and 12 digesters by end of the next month, aiming for a production run rate of approximately 550,000 MMBtus per year of renewable natural gas.

Opportunities:

• The recent update to the Low Carbon Fuel Standard in California signifies prolonged support for low carbon fuels, boosting the price of LCFS credits which benefits Aemetis' business model focused on renewable fuels.

• The anticipation of 45Z production tax credit under the Inflation Reduction Act which starts in January 2025 could significantly propel the company's revenue from renewable natural gas.

Risks:

• The issuance of guidance for the 45Z production tax credit is still unclear under the current administration, leading to potential delays and uncertainties in revenue projections for the company's renewable natural gas operations.

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