LanzaTech Global Inc Financials
This page shows LanzaTech Global Inc (LNZA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
LanzaTech Global Inc has an operating margin of -432.6%, meaning the company retains $-433 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -219.7% the prior year.
LanzaTech Global Inc's revenue declined 63.1% year-over-year, from $49.6M to $18.3M. This contraction results in a growth score of 0/100.
LanzaTech Global Inc's current ratio of 1.43 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 24/100, which could limit financial flexibility.
While LanzaTech Global Inc generated -$64.9M in operating cash flow, capex of $1.3M consumed most of it, leaving -$66.1M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
LanzaTech Global Inc passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
For every $1 of reported earnings, LanzaTech Global Inc generates $1.32 in operating cash flow (-$64.9M OCF vs -$49.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
LanzaTech Global Inc generated $18.3M in revenue in fiscal year 2025. This represents a decrease of 63.1% from the prior year.
LanzaTech Global Inc's EBITDA was -$74.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 27.5% from the prior year.
LanzaTech Global Inc reported -$49.0M in net income in fiscal year 2025. This represents an increase of 64.5% from the prior year.
LanzaTech Global Inc earned $-22.27 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 3081.4% from the prior year.
Cash & Balance Sheet
LanzaTech Global Inc generated -$66.1M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 29.9% from the prior year.
LanzaTech Global Inc held $13.2M in cash against $0 in long-term debt as of fiscal year 2025.
LanzaTech Global Inc had 10M shares outstanding in fiscal year 2025. This represents an increase of 417.6% from the prior year.
Margins & Returns
LanzaTech Global Inc's gross margin was -66.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs.
LanzaTech Global Inc's operating margin was -432.6% in fiscal year 2025, reflecting core business profitability. This is down 212.9 percentage points from the prior year.
LanzaTech Global Inc's net profit margin was -267.5% in fiscal year 2025, showing the share of revenue converted to profit. This is up 10.2 percentage points from the prior year.
Capital Allocation
LanzaTech Global Inc invested $53.2M in research and development in fiscal year 2025. This represents a decrease of 30.9% from the prior year.
LanzaTech Global Inc spent $48K on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 0.0% from the prior year.
LanzaTech Global Inc invested $1.3M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 76.3% from the prior year.
LNZA Income Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $9.3M+2.1% | $9.1M-4.2% | $9.5M-21.2% | $12.0M+21.0% | $9.9M-42.8% | $17.4M+69.6% | $10.2M-49.9% | $20.5M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | $10.3M-31.3% | $14.9M-9.5% | $16.5M+0.2% | $16.5M-25.2% | $22.0M+2.4% | $21.5M+25.9% | $17.1M+4.6% | $16.3M |
| SG&A Expenses | $6.7M-64.7% | $19.1M+21.3% | $15.7M0.0% | $15.7M+37.5% | $11.5M-2.5% | $11.7M+6.4% | $11.0M+18.1% | $9.3M |
| Operating Income | -$15.7M+51.4% | -$32.2M-3.8% | -$31.1M-14.9% | -$27.0M+18.0% | -$33.0M-44.5% | -$22.8M+12.8% | -$26.2M-40.3% | -$18.6M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Income | $2.9M+108.8% | -$32.5M-69.0% | -$19.2M+28.8% | -$27.0M+53.0% | -$57.4M-106.6% | -$27.8M-9.0% | -$25.5M-36.6% | -$18.7M |
| EPS (Diluted) | $0.99 | $-0.15-50.0% | $-0.10 | N/A | $-29.04-20642.9% | $-0.14-7.7% | $-0.13 | N/A |
LNZA Balance Sheet
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $99.3M-14.6% | $116.3M-7.6% | $125.8M-28.0% | $174.7M-19.2% | $216.2M+2.0% | $211.9M-1.2% | $214.5M-11.2% | $241.6M |
| Current Assets | $50.6M-23.5% | $66.2M+14.7% | $57.7M-41.9% | $99.3M-27.3% | $136.6M+9.3% | $125.0M-14.9% | $146.9M-14.9% | $172.7M |
| Cash & Equivalents | $19.6M-47.5% | $37.4M+171.2% | $13.8M-68.3% | $43.5M-25.9% | $58.7M-5.5% | $62.2M+9.6% | $56.7M-24.9% | $75.6M |
| Inventory | N/A | N/A | N/A | $2.2M | N/A | N/A | N/A | $1.8M |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $91.1M-29.0% | $128.3M+1.0% | $127.0M-21.2% | $161.2M-20.4% | $202.6M+40.4% | $144.3M+17.7% | $122.7M-3.5% | $127.2M |
| Current Liabilities | $24.8M-55.5% | $55.8M+110.5% | $26.5M-12.9% | $30.4M-35.1% | $46.9M+65.3% | $28.4M+33.1% | $21.3M-23.2% | $27.8M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | $9.3M-40.2% | $15.5M-38.5% | $25.1M |
| Total Equity | -$5.0M+80.2% | -$25.2M-2045.1% | -$1.2M-108.7% | $13.4M-1.2% | $13.6M-79.9% | $67.5M-26.4% | $91.8M-19.8% | $114.5M |
| Retained Earnings | -$1.0B+0.3% | -$1.0B-3.3% | -$988.8M-2.0% | -$969.6M-2.9% | -$942.6M-6.5% | -$885.2M-3.2% | -$857.4M-3.1% | -$831.9M |
LNZA Cash Flow Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$15.9M+26.9% | -$21.7M-2.9% | -$21.1M-7.2% | -$19.7M+25.6% | -$26.4M-80.5% | -$14.7M+48.2% | -$28.3M-79.8% | -$15.7M |
| Capital Expenditures | $168K+1.2% | $166K-76.7% | $713K-59.4% | $1.8M+507.3% | $289K-83.8% | $1.8M+20.8% | $1.5M+4.5% | $1.4M |
| Free Cash Flow | -$16.0M+26.7% | -$21.9M-0.3% | -$21.8M-1.8% | -$21.4M+19.8% | -$26.7M-62.6% | -$16.4M+44.8% | -$29.8M-73.6% | -$17.1M |
| Investing Cash Flow | -$168K-102.3% | $7.2M+68.9% | $4.3M-69.9% | $14.2M+192.5% | -$15.4M-175.8% | $20.3M+120.0% | $9.2M+751.1% | -$1.4M |
| Financing Cash Flow | $0-100.0% | $38.1M+405.0% | -$12.5M-24.9% | -$10.0M-125.0% | $40.0M+105163.2% | $38K-79.6% | $186K-79.6% | $913K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $0 | $0 | $0 | $0 | $0 | $0-100.0% | $48K | $0 |
LNZA Financial Ratios
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | -168.7%+186.2pp | -354.9%-27.5pp | -327.5%-102.8pp | -224.6%+106.8pp | -331.5%-200.2pp | -131.2%+124.1pp | -255.3%-164.2pp | -91.1% |
| Net Margin | 30.8%+388.6pp | -357.8%-155.0pp | -202.8%+21.6pp | -224.4%+353.2pp | -577.6%-417.6pp | -160.0%+89.0pp | -249.0%-157.7pp | -91.3% |
| Return on Equity | N/A | N/A | N/A | -200.7%+221.4pp | -422.1%-381.0pp | -41.2%-13.4pp | -27.8%-11.5pp | -16.3% |
| Return on Assets | 2.9%+30.8pp | -28.0%-12.7pp | -15.3%+0.2pp | -15.4%+11.1pp | -26.6%-13.4pp | -13.1%-1.2pp | -11.9%-4.2pp | -7.7% |
| Current Ratio | 2.04+0.9 | 1.19-1.0 | 2.17-1.1 | 3.26+0.4 | 2.91-1.5 | 4.40-2.5 | 6.89+0.7 | 6.22 |
| Debt-to-Equity | -18.30-13.2 | -5.09+103.1 | -108.18-120.2 | 11.99-2.9 | 14.89+14.8 | 0.14-0.0 | 0.17-0.1 | 0.22 |
| FCF Margin | -172.9%+67.9pp | -240.9%-10.8pp | -230.0%-51.9pp | -178.2%+90.7pp | -268.8%-174.2pp | -94.6%+196.0pp | -290.6%-206.8pp | -83.8% |
Note: Shareholder equity is negative (-$3.9M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
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Frequently Asked Questions
What is LanzaTech Global Inc's annual revenue?
LanzaTech Global Inc (LNZA) reported $18.3M in total revenue for fiscal year 2025. This represents a -63.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is LanzaTech Global Inc's revenue growing?
LanzaTech Global Inc (LNZA) revenue declined by 63.1% year-over-year, from $49.6M to $18.3M in fiscal year 2025.
Is LanzaTech Global Inc profitable?
No, LanzaTech Global Inc (LNZA) reported a net income of -$49.0M in fiscal year 2025, with a net profit margin of -267.5%.
What is LanzaTech Global Inc's EBITDA?
LanzaTech Global Inc (LNZA) had EBITDA of -$74.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is LanzaTech Global Inc's gross margin?
LanzaTech Global Inc (LNZA) had a gross margin of -66.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is LanzaTech Global Inc's operating margin?
LanzaTech Global Inc (LNZA) had an operating margin of -432.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is LanzaTech Global Inc's net profit margin?
LanzaTech Global Inc (LNZA) had a net profit margin of -267.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is LanzaTech Global Inc's free cash flow?
LanzaTech Global Inc (LNZA) generated -$66.1M in free cash flow during fiscal year 2025. This represents a 29.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is LanzaTech Global Inc's operating cash flow?
LanzaTech Global Inc (LNZA) generated -$64.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are LanzaTech Global Inc's total assets?
LanzaTech Global Inc (LNZA) had $100.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What are LanzaTech Global Inc's capital expenditures?
LanzaTech Global Inc (LNZA) invested $1.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does LanzaTech Global Inc spend on research and development?
LanzaTech Global Inc (LNZA) invested $53.2M in research and development during fiscal year 2025.
What is LanzaTech Global Inc's current ratio?
LanzaTech Global Inc (LNZA) had a current ratio of 1.43 as of fiscal year 2025, which is considered adequate.
What is LanzaTech Global Inc's debt-to-equity ratio?
LanzaTech Global Inc (LNZA) had a debt-to-equity ratio of -23.36 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is LanzaTech Global Inc's return on assets (ROA)?
LanzaTech Global Inc (LNZA) had a return on assets of -48.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is LanzaTech Global Inc's cash runway?
Based on fiscal year 2025 data, LanzaTech Global Inc (LNZA) had $13.2M in cash against an annual operating cash burn of $64.9M. This gives an estimated cash runway of approximately 2 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
Why is LanzaTech Global Inc's debt-to-equity ratio negative or unusual?
LanzaTech Global Inc (LNZA) has negative shareholder equity of -$3.9M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is LanzaTech Global Inc's Piotroski F-Score?
LanzaTech Global Inc (LNZA) has a Piotroski F-Score of 1 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are LanzaTech Global Inc's earnings high quality?
LanzaTech Global Inc (LNZA) has an earnings quality ratio of 1.32x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is LanzaTech Global Inc?
LanzaTech Global Inc (LNZA) scores 6 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.