Filing Flows › Aemetis (AMTX) › How it makes money
How Aemetis (AMTX) makes money
Aemetis (AMTX) made $88.2M of revenue in the third quarter 2026 (Q3 2026), +49% from a year earlier. California Ethanol brought in $53.8M (61%); California Dairy Renewable Natural Gas brought in $25.9M (29%); India Biodiesel Segment brought in $8.4M (10%). Of every dollar of revenue, 33¢ was left as gross profit, 24¢ was left as operating profit, 6¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| California Ethanol | $53.8M | 61.0% | +2% | +32% |
| California Dairy Renewable Natural Gas | $25.9M | 29.4% | +254% | +549% |
| India Biodiesel Segment | $8.4M | 9.6% | +236% | -42% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $88.2M | 100.0% |
| Cost of revenue | $58.7M | 66.6% |
| Gross profit | $29.5M | 33.4% |
| Operating expenses | $8.6M | 9.8% |
| Operating profit | $20.9M | 23.7% |
| Income tax | $2K | 0.0% |
| Net earnings | $5.2M | 5.9% |
| Operating cash flow | $22.0M | 24.9% |
| Free cash flow | $1.7M | 2.0% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $88.2M | +49% |
| Q2 2026 | $62.7M | +20% |
| Q1 2026 | $54.6M | +27% |
| Q4 2025 | $43.3M | -8% |
| Q3 2025 | $59.2M | -27% |
| Q2 2025 | $52.2M | -22% |
| Q1 2025 | $42.9M | -41% |
From Aemetis' 10-Q filed Nov 5, 2026 (on EDGAR).
Questions
How does Aemetis make money?
Aemetis (AMTX) made $88.2M of revenue in the third quarter 2026 (Q3 2026), +49% from a year earlier. California Ethanol brought in $53.8M (61%); California Dairy Renewable Natural Gas brought in $25.9M (29%); India Biodiesel Segment brought in $8.4M (10%). Of every dollar of revenue, 33¢ was left as gross profit, 24¢ was left as operating profit, 6¢ was left as net earnings.
What is Aemetis' biggest business?
California Ethanol: $53.8M in the third quarter 2026, 61% of revenue, +32% from a year earlier.
What is Aemetis' profit margin?
Net earnings were $5.2M, 5.9% of revenue, in the third quarter 2026; the operating margin was 23.7%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.