Stonegate Capital Partners Updates Coverage on Aemetis Following 1Q26 Results

Dallas, Texas, May 14, 2026 — Stonegate Capital Partners has updated its coverage on Aemetis, Inc. (NASDAQ: AMTX) after the company reported first-quarter 2026 results showing clear progress in its transition toward recurring low-carbon fuel revenue.

According to the announcement, Aemetis reported revenue of $54.6 million for 1Q26, representing a 27% year-over-year increase. Gross profit improved to $2.8 million, compared with a gross loss of $5.1 million in the prior-year period. Adjusted EBITDA also improved significantly, narrowing to a loss of $1.3 million from a loss of $10.7 million.

45Z Credits Begin Supporting Quarterly Earnings

A key factor highlighted in Stonegate’s update was the beginning of recurring quarterly recognition from 45Z clean fuel production credits. Aemetis recognized approximately $4.0 million across its Dairy RNG and California Ethanol operations during the quarter.

This marks an important shift for the company. Rather than relying mainly on future project value, Aemetis is beginning to show more visible financial benefits from its existing low-carbon fuel platform.

Dairy RNG Business Gains Momentum

The Dairy Renewable Natural Gas segment was identified as one of the clearest signs of recurring cash flow potential. RNG volumes increased 55% year over year to about 110,000 MMBtu.

Stonegate also noted that seven CARB-approved pathways with a negative 380 carbon intensity score could improve LCFS credit capture as production volumes increase. This strengthens the company’s position in California’s low-carbon fuel market.

Keyes MVR Project Seen as Major Catalyst

Another major point in the update was the Keyes Mechanical Vapor Recompression project. Stonegate described the project as the largest near-term EBITDA catalyst for Aemetis.

Once completed, the project is expected to reduce about 80% of fossil natural gas use at the Keyes ethanol plant and potentially add around $32 million in annual cash flow.

Financial Outlook Shows Improving Business Quality

The latest results suggest that Aemetis is moving from a heavy investment phase toward a more stable operating model. The company’s improved gross profit, stronger revenue, narrower EBITDA loss, and growing clean fuel credit recognition all point to better financial quality.

While Aemetis remains exposed to commodity prices, credit values, project timing, and financing conditions, Stonegate’s update suggests that the company’s low-carbon fuel strategy is beginning to appear more clearly in reported results.

About Aemetis

Aemetis is a renewable fuels and biochemicals company focused on low-carbon products, including renewable natural gas, ethanol, sustainable aviation fuel, renewable diesel, and other clean energy solutions. Its business strategy centers on reducing carbon intensity while creating value from renewable fuel incentives and environmental credits.

About Stonegate Capital Partners

Stonegate Capital Partners is a capital markets advisory firm that provides investor relations, equity research, and institutional investor outreach services to public companies.

Investor Takeaway

Stonegate’s updated coverage highlights a more positive operating trend for Aemetis in 1Q26. The company’s revenue growth, improved profitability, expanding RNG volumes, and clean fuel credit recognition show that its low-carbon fuel projects are beginning to translate into measurable financial results.

#Aemetis #AMTX #RenewableEnergy #CleanFuels #SlimScan #GrowthStocks #CANSLIM