Published on 7 Mar 2024 on GuruFocus.com via Yahoo Finance
Aemetis Inc (AMTX) Reports Substantial Growth in India Biodiesel Sales Despite Overall Net Loss ...
Revenue Growth: India biodiesel segment revenue soared to $77.2 million, a 175% increase year-over-year.Net Loss: Despite revenue growth in certain segments, Aemetis Inc (NASDAQ:AMTX) reported a net loss of $46.4 million for 2023.Operational Milestones: Achieved key operational milestones and secured $50 million in USDA-guaranteed funding for dairy digesters.Capital Expenditures: Invested $33 million in carbon intensity reduction and production expansion projects.Gross Profit: Gross profit turned positive at $2.0 million for 2023, compared to a gross loss in the previous year.Cost of Goods Sold: Decreased to $185 million in 2023 from $262 million in 2022, reflecting efficiency improvements.Stock Compensation: Selling, general and administrative expenses rose, partly due to $5.0 million in stock compensation.
Warning! GuruFocus has detected 9 Warning Signs with AMTX.
Aemetis Inc (NASDAQ:AMTX) released its 8-K filing on March 7, 2024, detailing its financial results for the fourth quarter and the full year ended December 31, 2023. The company, known for its renewable natural gas and renewable fuels, reported a significant increase in sales within its India biodiesel segment, which reached $77.2 million, marking a 175% increase over the prior year. This growth was a highlight in a year where the company faced an overall net loss.