LanzaTech Reports Second Quarter 2026 Financial Results

Significant progress against cost reduction efforts positions business for sustained success

LanzaTech advancing towards world's first ISCC EU certification for recycled carbon fuels in China

SKOKIE, IL., August 14, 2026 - LanzaTech Global, Inc. (NASDAQ: LNZA) ("LanzaTech" or the "Company"), a carbon management solutions company, today reported its financial and operating results for the second quarter ended June 30, 2026.

Second Quarter 2026 Financial and Operational Highlights (comparisons vs. Second Quarter 2025)

•Revenue of $9.0 million, down 1% compared to $9.1 million

•Operating Expenses of $11.7 million, improved by 67% compared to $35.1 million

•Net Income of $184.3 million, compared to a net loss of $32.5 million, primarily reflecting a significant non-cash unrealized gain on the Company's investment in SGLT.

•Adjusted EBITDA of $(7.6) million improved by approximately 74% compared to $(29.7) million

Management Comments:

Dr. Jennifer Holmgren, CEO of LanzaTech, stated "Our Second Quarter results reflect the actions we have taken to reshape LanzaTech for the current market. We have reduced costs, renegotiated key contracts and refocused capital spend as we move from an R&D-led model toward commercial project deployment. These actions are improving our year over year operating results and creating a more disciplined platform for revenue growth and long-term profitability."

Dr. Holmgren continued, "As we execute our near-term cost reduction and profitability improvement strategy, we continue to advance milestones that support commercialization and future value capture. Our work towards the world's first ISCC EU certification for recycled carbon fuel is a critical step in opening mandated European fuel markets to CarbonSmart ethanol. We believe this creates new commercial optionality across multiple end markets. SAF remains a core medium-term opportunity, supported by leading alcohol-to-jet technology, while certified carbon-smart ethanol gives us near-term access to direct-use markets such as marine and road transport. That breadth is a strategic asset, giving us flexibility, resilience, and multiple paths to monetize our technology today, while certification work like ISCC EU keeps us well positioned in mandated markets as they expand. Together, these markets support our focus on converting commercial progress into revenue growth and a clearer path to sustainable profitability."

Key Strategic and Operational Updates:

•Selected North Sea Port, Ghent for FLITE SAF facility: In May, LanzaTech selected North Sea Port, Ghent, Belgium as the permanent site for Europe's first commercial-scale Alcohol-to-Jet sustainable aviation fuel facility using the LanzaJet ATJ process, targeting 79,000 tonnes of SAF and 9,000 tonnes of renewable diesel annually and marking a major de-risking milestone toward FID with the planned Environmental Impact Assessment scoping notification.

◦LanzaTech estimates that the FLITE project carries the potential to deliver approximately $115 million in annualized offtaking revenues, with significant additional revenue opportunity streams.

•LanzaTech is currently undergoing the world's first ISCC EU certification pathway for recycled carbon fuels in China, working with ISCC and other stakeholders to establish the methodology, carbon accounting, and traceability standards for this emerging fuel category. ISCC EU certification verifies compliance with the EU's Renewable Energy Directive (RED III) and is also recognized by the UK's Department for Transport, making it a gateway to both mandated markets. This work is foundational to market access for recycled carbon fuel projects and future certifications as the category scales.

•Added to the Russell 3000 Index: LanzaTech was added to the Russell 3000 Index, effective June 29, 2026, also placing the Company in the Russell 2000 small-cap index and expanding visibility with institutional investors and passive index funds.

•Successful IPO and post-listing value creation of SGLT joint venture: In June, Beijing Shougang LanzaTech Technology Co., Ltd. completed its IPO on the Hong Kong Stock Exchange, raising approximately US$75 million in gross proceeds for SGLT and implying a market capitalization of approximately US$750 million upon listing. The Company did not sell any shares in the offering and did not receive any proceeds. Following completion of the offering, the Company held, through its subsidiary, 33,520,231 H Shares of Shougang LanzaTech, representing approximately 8.38% of the JV's total issued share capital upon listing. Driven by strong initial trading volume, the JV's market capitalization escalated to roughly US$1.32 billion as of August 12, at which point LanzaTech's retained equity held an estimated market value of around US$110 million. This provides public-market validation that LanzaTech-originated platforms can scale in commercially demanding sectors, while also demonstrating the potential value of LanzaTech's strategy of combining technology licensing with equity participation in commercial projects.

•Launched BRIGHT partnership to accelerate carbon-to-value biotechnology: LanzaTech entered a multi-year collaboration with BRIGHT at the Technical University of Denmark to design and install a next-generation C1 biofoundry, supporting development of technologies that convert CO2, CO and methane into fuels, chemicals and materials.

•Net income was $169.6 million for the six months ended June 30, 2026, primarily due to a $208.1 million non-cash unrealized gain on the Company's investment in SGLT, compared to net loss of $51.7 million for the six months ended June 30, 2025. Adjusted EBITDA(1) loss decreased to $15.5 million for the six months ended June 30, 2026, compared to Adjusted EBITDA loss of $60.2 million for the six months ended June 30, 2025, reflecting meaningful progress in underlying operating performance, driven by disciplined cost optimization initiatives.

(1) See "Non-GAAP Financial Measures" and "Reconciliation of Net Income (Loss) to Adjusted EBITDA" sections herein for an explanation and reconciliations of non-GAAP measures used throughout this release.

Second-Quarter 2026 Financial Results

The table below outlines key results for the three and six months ended June 30, 2026 and 2025:

All amounts in millions ($)						Three Months Ended June 30,												Six Months Ended June 30,
						2026						2025						2026						2025
Revenue						$	9.0					$	9.1					$	21.0					$	18.6
Cost of revenue (1)						7.2						6.2						15.5						13.7
Operating expenses						11.7						35.1						25.2						68.1
Net income (loss)						184.3						(32.5)						169.6						(51.7)
Adjusted EBITDA (2)						$	(7.6)					$	(29.7)					$	(15.5)					$	(60.2)
(1) Exclusive of depreciation.
(2) See "Non-GAAP Financial Measures" and "Reconciliation of Net Income (Loss) to Adjusted EBITDA" sections herein for an explanation and reconciliations of non-GAAP measures used throughout this release.

Revenue

•Reported total revenue of $9.0 million for the second quarter of 2026, compared to total revenue of $9.1 million in the second quarter of 2025. The decrease was primarily attributable to a $1.0 million decrease in revenue from Joint Development Agreements ("JDA") and a $0.5 million reduction in revenue received from LanzaJet for their sublicensing of our technology, partially offset by a $1.4 million increase in engineering and other services revenue.

•Engineering and other services revenue in the second quarter of 2026 was $3.3 million, compared to $1.9 million in the second quarter of 2025, reflecting the initiation of new customer projects and increased engineering activity.

•JDA revenue in the second quarter of 2026 was $0.3 million, compared to $1.3 million in the second quarter of 2025, due to the completion of projects with existing customers.

•Licensing revenue in the second quarter of 2026 was $0.6 million, compared to $1.1 million in the second quarter of 2025, due to the decrease in licensing revenue received from LanzaJet for their sublicensing of our technology.

•Contract research revenue in the second quarter of 2026 was $1.0 million, consistent with the second quarter of 2025.

•CarbonSmart revenue was $3.8 million in the second quarter of 2026, consistent with the second quarter of 2025.

Cost of Revenue

•Cost of revenue was $7.2 million in the second quarter of 2026, compared to $6.2 million in the second quarter of 2025. The increase reflects a greater proportion of engineering services and product-related activity in the current period, particularly CarbonSmart product sales and customer project execution, resulting in a different revenue and cost mix than the prior-year period.

Operating Expense

•For the second quarter of 2026 operating expense was $11.7 million, as compared to $35.1 million for the same period in the prior year. The decrease was primarily due to a decrease in personnel and contractor expenses related to R&D projects and administrative operations, reflecting headcount reductions implemented during 2025 as part of the Company's broader cost optimization initiatives. These reductions are designed to align the Company's cost base with its commercialization priorities and support its path to profitability.

Net income (loss)

•Net income for the second quarter of 2026 was $184.3 million, compared with a net loss of $32.5 million in the second quarter of 2025. The increase was primarily driven by a $208.1 million non-cash unrealized gain recognized on the Company's investment in SGLT resulting from the remeasurement of the investment to fair value following the investee's public listing and subsequent changes in the quoted market price during the quarter. The quarter also benefited from the impact of the Company's transformation, cost optimization and organizational streamlining initiatives, which reduced operating expenses and contributed to a significant improvement in Adjusted EBITDA compared with the prior-year period.

Adjusted EBITDA

•Adjusted EBITDA loss was $7.6 million as compared to adjusted EBITDA loss of $29.7 million in the second quarter of 2025. The improvement was primarily attributable to the benefits of the Company's transformation, cost optimization and organizational streamlining initiatives implemented during 2025, which resulted in significantly lower personnel, contractor, legal and other operating expenses.

Balance Sheet and Liquidity

•As of June 30, 2026, the Company had $48.9 million in total cash and restricted cash compared to total cash, restricted cash, and investments of $17.1 million as of December 31, 2025. The increase reflects our issuance of common stock for gross proceeds of $50.0 million in the six months ended June 30, 2026, partially offset by continued use of cash to fund operating activities and our $3.0 million purchase of LanzaJet Series A Preferred Stock.

Guidance Update

The Company is reintroducing financial guidance for the third quarter and full year 2026. Management believes improved visibility into business performance, strengthened liquidity, and the substantial progress achieved through transformation initiatives implemented during 2025 support the reintroduction of financial guidance. The guidance ranges below reflect management's current expectations based on existing market conditions and operating assumptions, including continued cost discipline, execution of contracted customer programs, and improved operating performance relative to the transformation period.

$ in millions			Third Quarter 2026						Full Year 2026
Revenue			$8 - $11						$50 - $55
Operating Expenses			$13 - $17						$51 - $55
Adjusted EBITDA			$(9) - $(13)						$(22) - $(26)

About LanzaTech

LanzaTech (NASDAQ: LNZA) is a leader in carbon management, using its proprietary gas-fermentation platform to transform waste carbon into valuable products. Through global partnerships, LanzaTech enables the production of feedstocks for high-value markets including SAF and chemicals. Headquartered in the U.S., the company provides technology and commercial pathways that strengthen industrial resilience and unlock new economic value from carbon.