AEMETIS, INC — Form 8-K
Filed August 6, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 52/100
What the filing says
AEMETIS reported Q2 2026 revenues of $62.7M (+20% YoY, +$10.5M), with operating income of $5.8M vs. loss of $10.7M in Q2 2025. Adjusted EBITDA improved $15.5M to $9.7M positive from negative $5.8M. Net loss was $9.4M vs. $23.4M loss YoY—an improvement of $14M. Dairy RNG volume grew 38% to 146,900 MMBtu; ethanol gallons +12% at 15.5M gallons. Cash declined to $0.973M from $4.9M (Q4 2025). Company pursuing multi-track financing: Keyes ethanol long-term debt refinancing, Dairy RNG expansion financing, and India subsidiary (Universal Biofuels) IPO prep.
Why this rating
Operational improvement real but company faces acute liquidity crisis: $0.97M cash vs. $303M current debt due; negative working capital despite revenue growth. Relative to $142M market cap, $15.5M EBITDA swing and 20% revenue growth is material, but high financial leverage and execution risk on multiple financing tracks limit upside certainty.
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