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Delisting risk

LNZA · NASDAQ · Waste Management

LanzaTech Global

Carbon-recycling gas fermentation platform for ethanol, fuels, chemicals and materials.

$6.17

After-hours close0.00 (0.00%)

At close$6.17(−0.80%)

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Profile

LanzaTech Global, Inc.LNZAIndustrials

Turns industrial emissions, carbon dioxide and gasified waste into ethanol through gas fermentation, earning from engineering and technology licensing, partner-funded development, and CarbonSmart product sales. The model leaves construction and operation of most physical plants to industrial partners while connecting their output to downstream supply chains.

Converts carbon-rich industrial emissions, carbon dioxide and gasified waste into ethanol through a proprietary gas-fermentation platform. The resulting ethanol is sold directly or upgraded into fuel and chemical derivatives, while CarbonSmart carries recycled-carbon materials into textile, packaging, fragrance, personal-care and other supply chains.

Earns revenue across three business lines: biorefining, joint development agreements and contract research, and CarbonSmart sales. Industrial partners fund engineering work, license the process and run physical plants; research partners fund development; licensee-produced ethanol can then be purchased and resold.

Operations span the United States, China, India, the United Kingdom and the European Union. Deployment depends on partners' construction, commissioning and plant operation, alongside feedstock access, permits, lifecycle qualification and intellectual-property protection.

Company facts

CEOJennifer Holmgren

ListedFeb 10, 2023

ExchangeNASDAQ

HeadquartersSkokie, IL

CountryUnited States

Employees192

CIK0001843724

ISINUS51655R2004

Key statistics

Market cap$13.6M

EPS (ttm)$74.06

P/E (ttm)0.0833

ROE230.0%

P/B0.0549

P/S0.2326

Dividend yield—

Beta1.94vs XLI −0.69

Year to date −55.9% · Average volume (30d) 67.3K

Analysts

Price target, next 12 months$5.50−10.9%Median of 4 analysts · vs the Aug 28 close

ConsensusHold1 of 4 analysts rate it buy or better

Ratings

Strong buyBuyHoldSellStrong sell

Target range

Last close $6.17

High$6.00−2.8%

Median$5.50−10.9%

Low$5.00−19.0%

12 months agoNowIn 12 months

Latest analyst notes

Date	Firm	Action	Prior rating	Rating
Mar 13, 2025	Janney Montgomery Scott	Downgrade	Buy	Neutral

Earnings

EPS

Estimate−$0.81

ReportedDue Nov 6, 2026

Revenue

Estimate$13.9M

ReportedDue Nov 6, 2026

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
Aug 14, 2026Q2 FY26	−$0.76	$15.81	+2,180.3%	$13.1M	$9.0M	−31.2%	+2.09%
May 14, 2026Q1 FY26	−$2.88	−$1.77	+38.5%	$12.1M	$12.0M	−0.7%	−43.27%
Mar 31, 2026Q4 FY25	−$6.47	−$0.04	+99.4%	$12.2M	$28.0M	+129.5%	−8.56%
Nov 19, 2025Q3 FY25	−$12.42	$0.99	+108.0%	$12.2M	$9.3M	−23.9%	−3.08%

View details

Financial highlights

	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Revenue	$9.5M	$9.1M	$9.3M	$28.0M	$12.0M	$9.0M
Gross profit	$2.0M	$2.9M	$2.4M	$18.1M	$2.8M	$1.8M
Operating income	−$31.1M	−$32.2M	−$15.7M	−$205.0K	−$9.8M	−$9.9M
Net income	−$19.2M	−$32.5M	$2.9M	−$84.0K	−$14.7M	$184.3M
Diluted EPS	−$9.79	−$14.90	$0.99	−$0.04	−$6.33	$79.44
Gross margin	20.8%	31.4%	25.5%	64.7%	23.2%	20.0%
Operating margin	-327.5%	-354.9%	-168.7%	-0.7%	-81.6%	-109.5%

Fiscal years (4-quarter sums)FY21 $25.5M · FY22 $37.3M · FY23 $62.6M · FY24 $49.6M · FY25 $55.8M

Revenue by product · Q2 FY26

Engineering And Other Services$3.3M · 63%

Research And Development$1.3M · 25%

License And Service$595.0K · 12%

Revenue by geography · Q2 FY26

Asia$4.9M · 54%

Europe$2.5M · 27%

North America$1.7M · 19%

Balance sheet, Jun 30, 2026Cash & short-term investments $45.0M · Total debt $28.8M · Total assets $322.7M · Shareholders' equity $260.6M

Dividends

No dividends on record.

Ownership

Institutions 15.16%Insiders —

Shares outstanding 2.20M · Float 1.11M · 50.6% free float

Insiders — no current Form 4 position.

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
Vinod Khosla	11.48M	64.20%	13D	Jan 29, 2026
Guardians of New Zealand Superannuation	1.30M	12.90%	13G	May 11, 2026
K ONE W ONE (NO 3) Ltd	1.19M	9.10%	13G	Jul 23, 2026
Tindall Stephen Robert · 10 percent owner	1.19M		Form 4	Jul 23, 2026
Novo Holdings A/S	158.1K	7.20%	13F	May 15, 2026

Insider tradesForm 4

Date	Insider	Role	Shares	Avg price
Jan 21, 2026	of New Zealand Superannuation Guardians	10 percent owner	+969,858	$5.00
Jan 21, 2026	Vinod Khosla	10 percent owner	+7,800,000