LanzaTech Announces First Quarter 2024 Financial Results and Reiterates Full Year 2024 Outlook
CHICAGO, May 09, 2024 (GLOBE NEWSWIRE) -- LanzaTech Global, Inc. (Nasdaq: LNZA) (“LanzaTech” or the “Company”), the carbon recycling company transforming waste carbon into sustainable raw materials, today reported its financial and operating results for the first quarter 2024 and reiterated its previously issued financial outlook for full year 2024.
- Cost of revenues in the first quarter of 2024 totaled $6.8 million, driving gross profit of $3.5 million, up 87% year-over-year.
- Net loss totaled $(25.5) million for the first quarter of 2024, compared to a net loss of $(63.3) million in the prior year period.
- The Company continues to expect its financial performance to be significantly back-end weighted to the second half of 2024.
- LanzaTech will host a conference call today, May 9, 2024, at 8:30 A.M. EDT to review the Company's financial results, discuss recent events and conduct a question-and-answer session.