LanzaTech Global, Inc. (LNZA) Form 10-Q — Aug 14, 2026

$LNZAForm 10-QFiled Aug 14, 2026, 7:58 AM ET0001628280-26-056933Original filing

LanzaTech Global reported Q2 2026 net income of $184.3 million versus a $32.5 million loss a year earlier, but the swing was driven by a $208.1 million unrealized mark-to-market gain on its stake in Beijing Shougang LanzaTech (SGLT) after SGLT's June 3, 2026 IPO. The gain is non-cash and says nothing about operating performance. Core revenue was roughly flat in the quarter at $9.0 million (down 0.8% year over year), though six-month revenue rose 13% to $21.0 million. The company still posted a $19.7 million operating loss and burned $10.7 million in cash from operations in the first half of 2026, and its ~45.7%-owned LanzaJet unit added an $18.4 million equity-method loss.

Key figures

Eps: $17.00 basic and diluted for six months ended June 30, 2026; $15.81 for Q2 2026
Revenue: $21.0 million for six months ended June 30, 2026 (Q2 2026: $9.0 million)
Net Income: $169.6 million for six months ended June 30, 2026 (Q2 2026: $184.3 million) vs. a $51.7 million loss in the prior-year six months
Total Debt: $12.7 million Brookfield Loan (fair value), maturing December 3, 2029
Revenue Yoy: +13.3% for six months ($21.03M vs $18.57M); -0.8% for Q2 ($9.01M vs $9.08M)
Total Assets: $322.7 million as of June 30, 2026
Cash Position: $44.98 million as of June 30, 2026 (vs $13.16 million at December 31, 2025)
Shares Outstanding: 13,089,163 as of August 10, 2026
Sglt Stake: approximately 8.38% interest; investment carried at $223.1 million fair value
Q2 Net Income: $184.3 million (vs $32.5 million net loss in Q2 2025)
Atm Remaining: approximately 2.0 million authorized shares available under the $100 million B. Riley ATM program
Operating Loss: -$19.7 million for six months ended June 30, 2026
Share Count Growth: 13,089,163 shares at June 30, 2026 vs 2,320,511 at December 31, 2025 (~465% increase) following the 1-for-100 reverse split effective August 18, 2025
Capital Raised2026: $50.0 million gross from common stock issuances ($20.0M January at $5.00; $10.0M May to LT Global at $10.00; $20.0M May institutional at $10.00)
Lanza Jet Loss Share: -$18.4 million H1 2026 equity-method loss (including $11.7 million off-balance-sheet losses)
Lanza Jet Ownership: approximately 45.7% fully diluted as of June 30, 2026
Operating Cash Flow: -$10.7 million used in operations for six months ended June 30, 2026
Pipe Warrant Shares: 7,800,000 shares at $0.0000001 exercise price, expiring December 31, 2030
Customer Concentration: Customer A = 39% of Q2 2026 revenue; 81% of Q2 revenue from customers outside the U.S.
Fair Value Gain Equity Securities: $208.1 million unrealized gain on SGLT investment ($47.5M initial remeasurement + $160.6M subsequent) recognized in Q2/H1 2026
Remaining Performance Obligations: $46.6 million contracted revenue, $21.3 million expected within twelve months

Price after filing

1 day: 0.0%7 days: -1.4%30 days: -3.6%

Close on the filing date to close N calendar days later (from $6.34). Historical, not a forecast.

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