AleAnna, Inc. Reports First Quarter 2026 Results
Rhea-AI Summary
AleAnna (NASDAQ: ANNA) reported first quarter 2026 revenue of $9.3 million, net income of $3.4 million and Adjusted EBITDA of $4.3 million, marking a fourth consecutive profitable quarter.
Cash stood at $31.1 million, and year-end 2025 total proved reserves increased 47% versus 2024.
AI-generated analysis. Not financial advice.
Positive
- Q1 2026 revenue rose to $9.3 million from $0.6 million year over year
- Q1 2026 net income of $3.4 million vs $3.3 million loss in 2025
- Adjusted EBITDA of $4.3 million vs negative $3.6 million a year earlier
- Total proved reserves up 47% year over year at year-end 2025
- G&A expenses fell to $2.2 million from $3.3 million year over year
- Total liabilities decreased to $40.6 million from $42.6 million quarter over quarter
Negative
- Cash and cash equivalents declined to $31.1 million from $31.8 million
- Currency translation adjustment loss of $1.1 million in Q1 2026
- Lease operating expense introduced at $1.3 million in Q1 2026
- Contingent consideration liabilities total $27.6 million current and long-term
- Accumulated deficit remains high at $187.2 million
News Market Reaction – ANNA
On the day this news was published, ANNA declined 7.05%, reflecting a notable negative market reaction. Argus tracked a peak move of +5.6% during that session. Our momentum scanner triggered 4 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $20M from the company's valuation, bringing the market cap to $257.70M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
Key peers in Oil & Gas E&P also traded higher, with moves such as EPM +5.9%, KGEI +3.81%, INR +7.78%, and REI +3.1%, but the momentum scanner did not flag a coordinated sector move.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Mar 30 | FY25 and Q4 earnings | Positive | -19.0% | Reported FY 2025 net income, positive Adjusted EBITDA, and strong cash balance. |
| Nov 12 | Q3 2025 earnings | Positive | +9.5% | Q3 2025 profitability driven by Longanesi revenue and higher operating cash flow. |
| May 15 | Q1 2025 earnings | Negative | -4.8% | Q1 2025 net loss with no Longanesi revenue yet recognized in the quarter. |
| Mar 31 | FY 2024 results | Positive | +10.8% | Fiscal 2024 highlighted de-SPAC listing, LNG/RNG asset build-out, and cash strength. |
Earnings releases have generally produced stock moves consistent with their tone, with one notable divergence on strong FY 2025 results.
Over the last year, AleAnna’s earnings releases have marked a shift from losses to sustained profitability. Q1 2025 still showed a net loss but with a solid cash position, while FY 2024 results highlighted the de‑SPAC listing and Italian gas and RNG build‑out. Subsequent Q3 and Q4 2025 reports emphasized Longanesi‑driven revenue, positive net income, and strong cash balances around $31–32M. Today’s Q1 2026 earnings continue that trajectory with another profitable quarter.
Historical Comparison
Past earnings releases for ANNA have averaged a modest -0.89% move, with mostly aligned reactions. Today’s profitable Q1 2026 report and continued cash strength fit the progression from 2025 losses to multi-quarter profitability.
Earnings history shows a transition from Q1 2025 losses to later 2025 profitability and cash stability, with Longanesi production becoming the core driver into Q1 2026.
Market Pulse Summary
The stock moved -7.0% in the session following this news. A negative reaction despite solid Q1 2026 metrics would fit a pattern where some strong reports, like FY 2025, were followed by downside. The company posted net income of $3.4M, Adjusted EBITDA near $4.3M, and maintained cash above $31M, while proved reserves increased year over year. However, prior selling after good news shows that valuation, macro energy trends, or concern about future capital needs can outweigh backward-looking strength.
Key Terms
adjusted ebitda financial
non-gaap financial
ebitda financial
proved reserves technical
proved developed producing technical
prospective resource technical
asset retirement obligation financial
comprehensive income financial
AI-generated analysis. Not financial advice.
AleAnna, Inc. reports positive Adjusted EBITDA[1] and net income for the fourth consecutive quarter
DALLAS, May 14, 2026 (GLOBE NEWSWIRE) -- AleAnna, Inc. (“AleAnna” or “the Company”) (NASDAQ: ANNA) today announced financial and operational results for the first quarter of 2026. AleAnna reported Adjusted EBITDA[1] of
Financial and Operational Update
Following production ramp-up and stabilization at the Longanesi field during 2025, the Company recognized
During the first quarter, AleAnna generated net income of
During the prior year, the Company commenced daily production from its Longanesi field, with the ramp-up exceeding expectations in both timing and volume.
During the first quarter of 2026, AleAnna, also announced significant increases in Proved Reserves Volumes in its year-end 2025 Third-Party Reserves Report from DeGolyer and MacNaughton, which reported an increase of Total Proved Reserves by
Management Commentary
Marco Brun, Chief Executive Officer, remarked on AleAnna’s recent accomplishments: “We continued to realize strong performance from our Longanesi field generating approximately
In parallel, we continue to deliver on our plan to advance our broader growth strategy. With a solid balance sheet, positive cash flow, and a growing asset base, we are well-positioned to deliver sustainable value creation for our shareholders. In the current energy environment, AleAnna is uniquely positioned to create substantial value, contributing to Italy's energy security through domestic natural gas production.”
About AleAnna
AleAnna is a technology-driven energy company, focused on growing gas production in Italy and helping drive Italy’s energy future. Further details can be found on our website at www.aleannainc.com/AboutAleAnna.
Forward-Looking Statements
The information included herein contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Certain statements, other than statements of present or historical fact included herein regarding AleAnna’s future operations, financial position, plans and objectives are forward-looking statements. AleAnna’s actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements, which speak only as of the date made. A list and descriptions of these risks, uncertainties and other factors can be found in AleAnna’s most recent Annual Report on Form 10-K, including in the sections captioned “Cautionary Note Regarding Forward-Looking Statements” and “Item 1A. Risk Factors,” and in AleAnna’s subsequent Quarterly Reports on Form 10-Q and other filings with the Securities Exchange Commission (“SEC”). SEC filings are available on the SEC’s website at www.sec.gov. Except as otherwise required by applicable law, AleAnna disclaims any duty to update any forward-looking statements, all expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof.
Investor Relations Contact
Ivan Ronald
ironald@aleannagroup.com
Website
https://www.aleannainc.com/
| ALEANNA, INC. CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (UNAUDITED) FOR THE THREE MONTHS ENDED MARCH 31, 2026 AND 2025 | |||||||
| For the Three Months Ended March 31, | |||||||
| 2026 | 2025 | ||||||
| Revenues | $ | 9,343,517 | $ | 644,600 | |||
| Operating expenses (income): | |||||||
| Cost of revenues | 1,550,995 | 838,395 | |||||
| Lease operating expense | 1,315,104 | - | |||||
| General and administrative | 2,215,573 | 3,324,845 | |||||
| Depreciation and depletion | 1,178,452 | 73,106 | |||||
| Accretion and remeasurement of asset retirement obligation | (613,688 | ) | 33,505 | ||||
| Total operating expenses | 5,646,436 | 4,269,851 | |||||
| Operating income (loss) | 3,697,081 | (3,625,251 | ) | ||||
| Other income: | |||||||
| Interest and other income | 139,837 | 237,605 | |||||
| Total other income | 139,837 | 237,605 | |||||
| Income (loss) before income taxes | 3,836,918 | (3,387,646 | ) | ||||
| Income tax (expense) benefit | (437,397 | ) | 48,276 | ||||
| Net income (loss) | 3,399,521 | (3,339,370 | ) | ||||
| Net (income) loss attributable to noncontrolling interests | (1,325,652 | ) | 1,333,231 | ||||
| Net income (loss) attributable to Class A Common stockholders or holders of Common Member Units | $ | 2,073,869 | $ | (2,006,139 | ) | ||
| Other comprehensive (loss) income | |||||||
| Currency translation adjustment | $ | (1,071,653 | ) | $ | 1,139,303 | ||
| Comprehensive income (loss) | 2,327,868 | (2,200,067 | ) | ||||
| Comprehensive (income) loss attributable to noncontrolling interests | (907,095 | ) | 1,333,231 | ||||
| Total comprehensive income (loss) attributable to Class A Common stockholders or holders of Common Member Units | $ | 1,420,773 | $ | (866,836 | ) | ||
| ALEANNA, INC. CONSOLIDATED BALANCE SHEETS (UNAUDITED) AS OF MARCH 31, 2026 AND DECEMBER 31, 2025 | |||||||
| March 31, 2026 | December 31, 2025 | ||||||
| ASSETS | |||||||
| Current Assets: | |||||||
| Cash and cash equivalents | $ | 31,124,907 | $ | 31,826,830 | |||
| Restricted cash | 1,274,558 | 1,304,129 | |||||
| Accounts receivable | 3,594,850 | 1,959,001 | |||||
| Prepaid expenses and other assets | 1,864,644 | 1,528,622 | |||||
| Total Current Assets | 37,858,959 | 36,618,582 | |||||
| Non-current assets: | |||||||
| Natural gas and other properties, successful efforts method, net of accumulated depreciation and depletion of | 42,418,184 | 42,553,580 | |||||
| Renewable natural gas properties, net of accumulated depreciation of | 10,506,660 | 10,744,121 | |||||
| Value-added tax refund receivable | 10,424,243 | 9,589,576 | |||||
| Operating lease right-of-use assets | 151,455 | 1,790,461 | |||||
| Total Non-current Assets | 63,500,542 | 64,677,738 | |||||
| Total Assets | $ | 101,359,501 | $ | 101,296,320 | |||
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||
| Current Liabilities: | |||||||
| Accounts payable and accrued expenses | $ | 8,202,635 | $ | 6,776,384 | |||
| Income tax payable | 843,417 | 417,568 | |||||
| Lease liability, short-term | 151,455 | 200,419 | |||||
| Contingent consideration liability, short-term | 11,278,795 | 11,576,846 | |||||
| Total Current Liabilities | 20,476,302 | 18,971,217 | |||||
| Non-current Liabilities: | |||||||
| Asset retirement obligation | 2,980,553 | 4,507,921 | |||||
| Deferred tax liability | 876,395 | 897,812 | |||||
| Lease liability, long-term | 38,753 | 1,588,243 | |||||
| Contingent consideration liability, long-term | 16,275,760 | 16,651,065 | |||||
| Total Non-current Liabilities | 20,171,461 | 23,645,041 | |||||
| Total Liabilities | 40,647,763 | 42,616,258 | |||||
| Commitments and Contingencies | |||||||
| Stockholders' Equity: | |||||||
| Class A Common Stock, par value | 4,066 | 4,066 | |||||
| Class C Common Stock, par value | 2,599 | 2,599 | |||||
| Additional paid-in capital | 228,344,094 | 228,640,286 | |||||
| Accumulated other comprehensive loss | (4,594,484 | ) | (3,941,388 | ) | |||
| Accumulated deficit | (187,174,974 | ) | (189,248,843 | ) | |||
| Noncontrolling interest | 24,130,437 | 23,223,342 | |||||
| Total Stockholders' Equity | 60,711,738 | 58,680,062 | |||||
| Total Liabilities and Stockholders' Equity | $ | 101,359,501 | $ | 101,296,320 | |||
Non-GAAP Performance Measures and Definitions
In addition to amounts presented in accordance with generally accepted accounting principles in the United States of America (“GAAP”), we also present certain supplemental non-GAAP performance measures. We believe that the presentation of non-GAAP financial measures provides both management and investors with a greater understanding of the Company's operating results and trends in addition to the results measured in accordance with GAAP and provides greater comparability across time periods. These measures are not to be considered more relevant or accurate than the measures presented in accordance with GAAP. The non-GAAP financial measures do not have any standardized meaning and are therefore unlikely to be comparable to similarly titled measures used by other companies. In compliance with the requirements of the SEC, our non-GAAP measures are reconciled to net income, the most directly comparable GAAP performance measure. For all non-GAAP measures, neither the SEC nor any other regulatory body has passed judgment on these non-GAAP measures.
EBITDA and Adjusted EBITDA
EBITDA and Adjusted EBITDA are both non-GAAP financial measures. EBITDA is calculated as net income (loss) before interest expense and other income, taxes, depreciation, depletion and amortization. The purpose of presenting EBITDA and Adjusted EBITDA is to highlight earnings without finance, taxes, and depreciation, depletion and amortization expense, as well as stock compensation and transaction expense, and its use is limited to specialized analysis. We adjust EBITDA for stock compensation and one-off activities such as the remeasurement of the asset retirement obligation to reach Adjusted EBITDA. We present EBITDA and Adjusted EBITDA because we believe it provides useful additional information to investors for specialized analysis of our performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance, such as transactions expenses, share-based compensation, and other non-recurring costs.
The following table presents a reconciliation of Adjusted EBITDA to net income for the three months ended March 31, 2026 and 2025:
| Three months ended | |||||||
| March 31, 2026 | March 31, 2025 | ||||||
| Net Income (loss) | $ | 3,399,521 | $ | (3,339,370 | ) | ||
| Add (deduct): | |||||||
| Interest | (139,837 | ) | (237,605 | ) | |||
| Tax expense (benefit) | 437,397 | (48,276 | ) | ||||
| Depreciation, depletion and amortization | 1,178,452 | 73,106 | |||||
| EBITDA | $ | 4,875,533 | $ | (3,552,145 | ) | ||
| Add (deduct): | |||||||
| Remeasurement of asset retirement obligation | (646,924 | ) | - | ||||
| Stock compensation expense | 51,031 | 0 | |||||
| Adjusted EBITDA | $ | 4,279,640 | $ | (3,552,145 | ) | ||
