Company: AMTX
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001437749-25-033667
Chunk: 48

Company: AEMETIS, INC
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 48
---
 contracts compared to higher volumes sold under cost plus contracts in the same period in 2024.

Cost of Goods Sold

      2025 

      2024 

      Inc/(dec) 

      % change 

      California Ethanol 
      
     $
     125,938

     $
     130,649

     $
     (4,711
     )

     (3.6
     )%

      California Dairy Renewable Natural Gas 

     7,030

     5,669

     1,361

     24.0
     %

      India Biodiesel 

     29,844

     82,858

     (53,014
     )

     (64.0
     )%

      Total 
      
     $
     162,812

     $
     219,176

     $
     (56,364
     )

     (25.7
     )%

California Ethanol. We ground 14.4 million bushels of corn at an average cost of $6.33 per bushel during the nine months ended September 30, 2025, compared to 15.6 million bushels of corn at an average price of $6.25 per bushel during the nine months ended September 30, 2024. The slight decrease in cost of goods sold for the nine months ended September 30, 2025, is mainly due to the decrease in the quantity of the corn ground.  

       25

       (Tabular data in thousands, except par value and per share data)

California Dairy Renewable Natural Gas. Cost of goods sold includes dairy manure payments, equipment maintenance, and depreciation. The increase in 2025 was primarily due to increased manure costs, maintenance costs, and depreciation from the increased number of operating digesters.

India Biodiesel.  The decrease in cost of goods sold during the nine months ended September 30, 2025, compared to September 30, 2024, was attributable to a reduced use of feedstock due to reduced sales of biodiesel during the nine months ended September 30, 2025, of 21.0 thousand metric tons compared to 73.5 thousand metric tons of biodiesel sold during the nine months ended September 30, 2024. 

Gross profit (loss)

      2025 

      2024