LanzaTech Global, Inc. (LNZA): auditor change — LanzaTech restates Q1/Q2 2023 financials; Q3 revenue surges 143% YoY

LanzaTech Global, Inc.

Non-reliance on Q1 and Q2 2023 financials due to FPA accounting; restatement to reclassify $60.5M prepayment to equity.
Q3 2023 revenues $19.6M (+143% YoY); net loss $(25.3)M vs $(22.3)M prior year.
Adjusted EBITDA $(19.1)M, 20% improvement QoQ; cash $136.9M.
IndianOil refinery startup in India, Brookfield co-development projects, LanzaJet SAF facility expected early 2024.

item 2.02 item 4.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

LanzaTech Global, Inc. reported that prior financial statements should not be relied upon.

Action: non reliance
Auditor: Deloitte & Touche LLP

Exact text from the filing

On November 8, 2023, the Audit Committee of LanzaTech Global, Inc. (the “Company” or “LanzaTech”), after considering the recommendations of management, concluded that the Company’s previously issued consolidated financial statements as of and for the quarters ended March 31, 2023 and June 30, 2023 (collectively, the “Previous Financial Statements”) should no longer be relied upon.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LanzaTech Global, Inc. reported the third quarter of 2023 results: revenue $19.6 million, net income $(25.3) million.

Period: the third quarter of 2023
Revenue: $19.6 million
Net income: $(25.3) million
Result: reported results

Exact text from the filing

reference in such filing. --- EX-99.1 (EX-99.1) --- a3q23lnzaearningsrelease LanzaTech Global, Inc. Announces Third Quarter 2023 Financial Results Operating revenues of $19.6 million for third quarter 2023, an increase of 143% over third quarter 2022 Continued progress starting up commercial-scale plants with successful startup at partner IndianOil

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LanzaTech Global, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-038043

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