LanzaTech Global, Inc. (LNZA) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 3, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 14, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the LNZA SEC filings page.
LanzaTech Global, Inc. (LNZA) reported $58.3M in revenue over the twelve months to Jun 30, 2026, up 43.8% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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).
LanzaTech remains an R&D-heavy business where improved 2025 losses did not yet translate into a self-funding operating model.
The 2025 improvement was operational in shape: revenue rose12.6% while the operating loss narrowed27.3% , indicating costs absorbed more of the sales base than in FY2024. Yet operating cash flow was-$64.9M against free cash flow of-$66.1M , showing that the improvement has not changed the company’s underlying cash-consuming model.
Development spending nearly matched revenue: research and development was
Balance-sheet cushion weakened materially: equity moved from
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of LanzaTech Global, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
LanzaTech Global, Inc. held $13.2M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $64.9M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and LanzaTech Global, Inc. scores 10/100 among other emerging companies.
LanzaTech Global, Inc. had 10M shares outstanding at the end of fiscal year 2025. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and LanzaTech Global, Inc. scores 97/100 among other emerging companies.
LanzaTech Global, Inc. spent $53.2M on research and development in fiscal year 2025, which was 39.4% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and LanzaTech Global, Inc. scores 70/100 among other emerging companies.
LanzaTech Global, Inc. reported revenue of $55.8M in fiscal year 2025, against $49.6M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and LanzaTech Global, Inc. scores 36/100 among other emerging companies.
LanzaTech Global, Inc.'s operations used $64.9M of cash in fiscal year 2025, against $89.1M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and LanzaTech Global, Inc. scores 63/100 among other emerging companies.
LanzaTech Global, Inc.'s cash, cash equivalents and investments came to $13.2M at the end of fiscal year 2025, against $90.9M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and LanzaTech Global, Inc. scores 22/100 among other emerging companies.
LanzaTech Global, Inc. scores -15.61, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($79.1M) relative to total liabilities ($90.9M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
LanzaTech Global, Inc. passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
LanzaTech Global, Inc. reported a net loss of $49.0M while operations used $64.9M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
LanzaTech Global, Inc. generated $9.0M in revenue in Q2 2026. This represents a decrease of 0.8% from the same quarter a year earlier. Against the prior quarter it is down 25.0%.
LanzaTech Global, Inc.'s EBITDA was -$8.9M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 71.4% from the same quarter a year earlier. Against the prior quarter it is down 0.4%.
LanzaTech Global, Inc. reported $184.3M in net income in Q2 2026. This represents an increase of 667.1% from the same quarter a year earlier. Against the prior quarter it is up 1355.6%.
LanzaTech Global, Inc. earned $15.81 per diluted share (EPS) in Q2 2026. Against the prior quarter it is up 993.2%.
Cash & Balance Sheet
LanzaTech Global, Inc. recorded an outflow of $2.1M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents an increase of 90.6% from the same quarter a year earlier. Against the prior quarter it is up 77.9%.
LanzaTech Global, Inc. held $45.0M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
LanzaTech Global, Inc.'s ROE was 70.7% in Q2 2026, measuring profit generated per dollar of shareholder equity. Against the prior quarter it is up 101.3 percentage points.
Not reported for Q2 2026.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is above 100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
LanzaTech Global, Inc. invested $2.0M in research and development in Q2 2026. This represents a decrease of 86.9% from the same quarter a year earlier. Against the prior quarter it is down 51.0%.
LanzaTech Global, Inc. invested $676K in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 307.2% from the same quarter a year earlier. Against the prior quarter it is up 1129.1%.
Not reported for Q2 2026.
LNZA Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $9.0M-0.8% | $12.0M+26.8% | $28.0M+132.7% | $9.3M-6.7% | $9.1M-47.7% | $9.5M-7.4% | $12.0M-41.2% | $9.9M-49.3% |
| R&D Expenses | $2.0M-86.9% | $4.0M-75.7% | $11.5M-30.1% | $10.3M-53.4% | $14.9M-30.5% | $16.5M-3.3% | $16.5M+1.0% | $22.0M+32.2% |
| SG&A Expenses | $8.8M-54.2% | $8.6M-45.4% | $5.5M-65.4% | $6.7M-41.1% | $19.1M+62.6% | $15.7M+42.7% | $15.7M+68.5% | $11.5M-3.0% |
| Operating Income | -$9.9M+69.4% | -$9.8M+68.4% | -$205K+99.2% | -$15.7M+52.5% | -$32.2M-41.4% | -$31.1M-18.7% | -$27.0M-44.9% | -$33.0M-34.0% |
| EBITDA | -$8.9M+71.4% | -$8.9M+70.7% | $1.2M+104.5% | -$14.6M+53.8% | -$31.2M-46.1% | -$30.3M-22.9% | -$25.7M-49.9% | -$31.7M-36.3% |
| Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Income | $184.3M+667.1% | -$14.7M+23.7% | -$133K+99.5% | $2.9M+105.0% | -$32.5M-16.9% | -$19.2M+24.6% | -$27.0M-44.4% | -$57.4M-126.8% |
| EPS (Basic) | $15.81+206.1% | -$1.77+81.9% | $0.39+102.9% | $1.14+103.9% | -$14.90-10542.9% | -$9.79-7430.8% | -$13.64-15055.6% | -$29.04-22238.5% |
| EPS (Diluted) | $15.81 | -$1.77 | $0.39 | $0.99 | -$14.90 | -$9.79 | -$13.64 | -$29.04 |
| Diluted Shares (Avg) | 12M | 8M | N/A | 3M | 2M | 2M | N/A | 2M |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, Interest Expense.
LNZA Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $322.7M+177.5% | $105.2M-16.4% | $100.2M-42.6% | $99.3M-54.1% | $116.3M-45.1% | $125.8M-41.3% | $174.7M-27.7% | $216.2M-12.2% |
| Current Assets | $69.2M+4.7% | $48.0M-16.8% | $39.7M-60.0% | $50.6M-62.9% | $66.2M-47.1% | $57.7M-60.7% | $99.3M-42.5% | $136.6M-23.0% |
| Cash & Equivalents | $45.0M+20.4% | $19.9M+44.2% | $13.2M-69.7% | $19.6M-66.6% | $37.4M-39.9% | $13.8M-75.7% | $43.5M-42.5% | $58.7M-35.7% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | N/A | N/A | $684K-68.3% | N/A | N/A | N/A | $2.2M+23.2% | N/A |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $62.1M-51.6% | $57.1M-55.0% | $90.9M-43.6% | $91.1M-55.0% | $128.3M-11.1% | $127.0M+3.5% | $161.2M+26.8% | $202.6M+71.9% |
| Current Liabilities | $27.9M-50.0% | $24.4M-7.9% | $27.7M-8.9% | $24.8M-47.1% | $55.8M+96.6% | $26.5M+24.4% | $30.4M+9.6% | $46.9M+39.0% |
| Non-Current Liabilities | $34.1M-52.9% | $32.7M-67.4% | $63.2M-51.7% | $66.3M-57.4% | $72.5M-37.5% | $100.5M-0.9% | $130.8M+31.6% | $155.7M+85.1% |
| Total Equity | $260.6M+1134.9% | $48.1M+4193.6% | -$3.9M-128.9% | -$5.0M-136.6% | -$25.2M-137.3% | -$1.2M-101.3% | $13.4M-88.3% | $13.6M-89.4% |
| Retained Earnings | -$848.9M+16.9% | -$1.0B-4.5% | -$1.0B-5.0% | -$1.0B-8.0% | -$1.0B-15.4% | -$988.8M-15.3% | -$969.6M-16.6% | -$942.6M-15.9% |
Not reported in any period shown, so not listed: Accounts Receivable, Goodwill, Long-Term Debt.
LNZA Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.4M+93.6% | -$9.3M+56.1% | -$6.2M+68.7% | -$15.9M+40.0% | -$21.7M-48.2% | -$21.1M+25.4% | -$19.7M-25.1% | -$26.4M-17.8% |
| Depreciation & Amortization | $962K-8.7% | $939K+20.2% | $1.4M+7.0% | $1.0M-21.2% | $1.1M-27.7% | $781K-49.0% | $1.3M-13.1% | $1.3M-5.5% |
| Stock-Based Compensation | N/A | $1.3M-41.8% | N/A | N/A | N/A | $2.3M-9.8% | N/A | N/A |
| Capital Expenditures | $676K+307.2% | $55K-92.3% | $211K-88.0% | $168K-41.9% | $166K-90.7% | $713K-51.8% | $1.8M+23.9% | $289K-84.1% |
| Free Cash Flow | -$2.1M+90.6% | -$9.3M+57.3% | -$6.4M+70.3% | -$16.0M+40.0% | -$21.9M-33.1% | -$21.8M+26.7% | -$21.4M-25.0% | -$26.7M-10.1% |
| Investing Cash Flow | -$1.7M-123.7% | -$2.0M-147.0% | -$211K-101.5% | -$168K+98.9% | $7.2M-64.3% | $4.3M-53.5% | $14.2M+1104.4% | -$15.4M-548.7% |
| Financing Cash Flow | $28.1M-26.2% | $18.0M+244.0% | $0+100.0% | $0-100.0% | $38.1M+100213.2% | -$12.5M-6820.4% | -$10.0M-1196.5% | $40.0M+7042.9% |
| Share Buybacks | N/A | N/A | $0 | $0 | $0 | $0-100.0% | $0 | $0 |
Not reported in any period shown, so not listed: Dividends Paid.
LNZA Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | -109.5% | -81.6% | -0.7% | -168.7% | -354.9% | -327.5% | -224.6% | -331.5% |
| Net Margin | 2044.7% | -122.1% | -0.5% | 30.8% | -357.8% | -202.8% | -224.1% | -577.6% |
| Return on Equity | 70.7% | -30.5% | N/A | N/A | N/A | N/A | -200.5%-184.2pp | -422.1%-402.4pp |
| Return on Assets | 57.1%+85.1pp | -14.0%+1.3pp | -0.1%+15.3pp | 2.9%+29.4pp | -28.0%-14.8pp | -15.3%-3.4pp | -15.4%-7.7pp | -26.6%-16.3pp |
| Current Ratio | 2.48+1.3x | 1.96-0.2x | 1.43-1.8x | 2.04-0.9x | 1.19-3.2x | 2.17-4.7x | 3.26-3.0x | 2.91-2.3x |
| Debt-to-Equity | 0.24 | 1.19 | N/A | N/A | N/A | N/A | 11.99+11.8x | 14.89+14.7x |
| Asset Turnover | 0.03-0.1x | 0.110.0x | 0.28+0.2x | 0.090.0x | 0.080.0x | 0.080.0x | 0.070.0x | 0.050.0x |
| FCF Margin | -22.9% | -77.6% | -22.8% | -172.9% | -240.9% | -230.0% | -178.2% | -268.8% |
Not reported in any period shown, so not listed: Gross Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
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.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| LanzaTech Global, Inc. LNZA | FY2025 | $55.8M | -$49.0M | -87.7% | $79.1M | 50/100 |
| Quest Resource Holding Corporation QRHC | FY2025 | $250.2M | -$15.4M | -6.2% | $28.9M | 26/100 |
| Decent Holding Inc DXST | FY2025 | $12.9M | -$322K | -2.5% | $5.4M | 54/100 |
| CDT Environmental Technology Investment Holdings Limited CDTG | FY2025 | $18.2M | -$10.2M | -56.0% | $3.2M | 18/100 |
| Avalon Holdings Corp. AWX | FY2025 | $83.5M | $321K | 0.4% | $9.7M | 30/100 |
| Aqua Metals, Inc. AQMS | FY2025 | N/A | -$22.6M | N/A | $8.3M | — |
Where LanzaTech Global, Inc. Ranks
Frequently Asked Questions
What is LanzaTech Global, Inc.'s annual revenue?
LanzaTech Global, Inc. (LNZA) reported $55.8M in total revenue for fiscal year 2025. This represents a 12.6% 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 grew by 12.6% year-over-year, from $49.6M to $55.8M 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 -87.7%.
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 net profit margin?
LanzaTech Global, Inc. (LNZA) had a net profit margin of -87.7% 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) recorded an outflow of $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) recorded an outflow of $64.9M in operating cash flow during fiscal year 2025, representing cash used by 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 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 P/E ratio?
LanzaTech Global, Inc. (LNZA) trades at 0.5x earnings, its market capitalization divided by net income of $172.4M net income, trailing 12 months to June 30, 2026. The market capitalization is $79.1M as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is LanzaTech Global, Inc.'s price-to-sales ratio?
LanzaTech Global, Inc. (LNZA) trades at 1.4x sales, its market capitalization divided by revenue of $58.3M revenue, trailing 12 months to June 30, 2026. The market capitalization is $79.1M as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does LanzaTech Global, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, LanzaTech Global, Inc. (LNZA) held $13.2M in cash, cash equivalents and investments, and reported an operating cash outflow of $64.9M over that year. Dividing the one by the other, the reported balance equals about 2 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Why is LanzaTech Global, Inc.'s debt-to-equity ratio negative or not reported?
LanzaTech Global, Inc. (LNZA) has negative shareholder equity of -$3.9M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. 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 Altman Z-Score?
LanzaTech Global, Inc. (LNZA) has an Altman Z-Score of -15.61, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is LanzaTech Global, Inc.'s Piotroski F-Score?
LanzaTech Global, Inc. (LNZA) has a Piotroski F-Score of 3 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 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) reported a net loss of $49.0M while operations used $64.9M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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 50 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.