AleAnna, Inc. Reports First Quarter 2025 Results

Longanesi First Gas Sales Have Been Achieved

First Quarter 2025 and Recent Company Highlights:

   -- AleAnna reported basic and diluted net loss per common share of ($0.05) 
      for the quarter ended March 31, 2025, compared with ($3.41) for the same 
      period in 2024. 
 
   -- AleAnna ended the quarter with cash and cash equivalents of approximately 
      $27.8 million 

DALLAS, May 15, 2025 (GLOBE NEWSWIRE) -- AleAnna, Inc. ("AleAnna" or "the Company") $(ANNA)$ today announced financial results for the first quarter of 2025. While revenue from Longanesi field production was not recognized during the quarter, in May 2025 AleAnna achieved first sales and the Company expects to report revenue from the Longanesi field as a part of second quarter results.

For the first quarter 2025, AleAnna reported net loss of $2.0 million. This amounts to a basic and diluted net loss per common share of ($0.05), compared with ($3.41) net loss per common share recorded by the Company in the first quarter 2024.

As of March 31, 2025, AleAnna had cash and cash equivalents of $27.8 million, providing the necessary liquidity to support development activities and pursue strategic opportunities.

Management Commentary

Marco Brun, Chief Executive Officer, remarked on AleAnna's recent accomplishments: "We continue to execute on our business strategy and are encouraged by the initial performance at the Longanesi field. Although first quarter results did not include revenue from Longanesi, with the onset of sales in early May 2025 we expect to report revenue in our second quarter results. With a healthy balance sheet and growing operational momentum, we're focused on delivering long-term value to our shareholders."

About AleAnna

AleAnna is a technology-driven energy company focused on bringing sustainability and new supplies of low-carbon natural gas and RNG to Italy, aligning traditional energy operations with renewable solutions, with developments like the Longanesi field leading the way in supporting a responsible energy transition. With three conventional gas discoveries in Italy already made and with a potential of up to fourteen new natural gas exploration projects that could be initiated this decade, our goal is to play a pivotal role in Italy's energy transition. Italy's extensive infrastructure, featuring 33,000 kilometers of gas pipelines, three major gas storage facilities, and a strong base of existing RNG facilities, aligns with AleAnna's commitment to sustainability. AleAnna's RNG projects' portfolio includes three plants under development and almost 100 potential projects that would represent up to a EUR1.1 billion potential investment in the next few years. AleAnna operates regional headquarters in Dallas, Texas, and Rome, Italy.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding AleAnna's expectations and future financial performance, the Company's strategy, future operations, financial position, prospective plans, goals, and objectives are forward-looking statements. When used herein, including any statements made in connection herewith, the words "could," "should," "will," "may," "believe," "anticipate," "intend," "plan," "potential," "goal," "focus," "estimate," "expect," "project," the negative of such terms and other similar expressions are forward-looking statements. However, not all forward-looking statements contain such identifying words. Forward-looking statements are neither historical facts nor assurances or guarantees of future performance. Instead, they are based only on AleAnna's current beliefs, expectations and assumptions regarding the future of its business, future plans and strategies, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of AleAnna's control. As a result, these factors could cause AleAnna's actual results and financial condition to differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements, which speak only as of the date made. Except as otherwise required by applicable law, the Company disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, but are not limited to, those under "Risk Factors" in AleAnna's Form 10-K filed with the SEC on March 31, 2025, as well as general economic conditions; AleAnna's need for additional capital and ability to obtain any required capital; political, general economic, financial and legal conditions; changes in domestic and foreign markets; risks associated with the implementation of AleAnna's business strategy and the ability to execute on AleAnna's business strategy; timing of any business milestones; and changes in the regulatory environment in which AleAnna operates. Additional information concerning these and other factors that may impact AleAnna's expectations and projections can be found in filings it makes with the SEC, and other documents filed or to be filed with the SEC by AleAnna. SEC filings are available on the SEC's website at www.sec.gov. Except as otherwise required by applicable law, AleAnna disclaims any duty to update any forward-looking statements, all expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof.

Investor Relations Contact

Bill Dirks

wkdirks@aleannagroup.com

Website

https://www.aleannainc.com/

Source: AleAnna, Inc.

ALEANNA, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (unaudited)

FOR THE THREE MONTHS ENDED MARCH 31, 2025 AND MARCH 31, 2024

 
                               For the Three Months Ended March 31, 
                                    2025                  2024 
                             -------------------   ------------------ 
 
Revenues                      $          644,600   $                - 
 
Operating expenses: 
  Cost of revenues            $          838,395   $                - 
  General and 
   administrative                      3,324,845            2,018,524 
  Depreciation                            73,106                    - 
  Accretion of asset 
   retirement obligation                  33,505               33,311 
                                 ---------------    ----------------- 
   Total operating expenses            4,269,850            2,051,835 
                                 ---------------    ----------------- 
 
   Operating loss                     (3,625,250)          (2,051,835) 
                                 ---------------    ----------------- 
 
Other income: 
  Interest and other income              237,605              289,337 
  Change in fair value of 
   derivative liability                        -              173,177 
                                 ---------------    ----------------- 
   Total other income                    237,605              462,514 
                                 ---------------    ----------------- 
 
   Loss before income taxes           (3,387,646)          (1,589,321) 
   Income tax benefit                     48,276                    - 
                                 ---------------    ----------------- 
   Net loss                           (3,339,370)          (1,589,321) 
   Deemed dividend to Class 
    1 Preferred Units 
    redemption value                           -         (112,673,176) 
   Net loss attributable to 
    noncontrolling 
    interests                          1,333,231                    - 
                                 ---------------    ----------------- 
   Net loss attributable to 
    Class A Common 
    stockholders or holders 
    of Common Member Units    $       (2,006,139)  $     (114,262,497) 
                                 ===============    ================= 
 
Other comprehensive loss 
   Currency translation 
    adjustment                         1,139,303              113,872 
                                 ---------------    ----------------- 
   Comprehensive loss                 (2,200,067)          (1,475,449) 
   Comprehensive loss 
    attributable to 
    noncontrolling 
    interests                          1,333,231                    - 
                                 ---------------    ----------------- 
Total comprehensive loss 
 attributable to Class A 
 Common stockholders or 
 holders of Common Member 
 Units                        $         (866,836)  $       (1,475,449) 
                                 ===============    ================= 
 
  Weighted average shares 
   of Class A Common Stock 
   outstanding, basic and 
   diluted                            40,564,475           33,467,205 
  Net loss per share of 
   Class A Common Stock, 
   basic and diluted          $            (0.05)  $            (3.41) 
 

ALEANNA, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

AS OF MARCH 31, 2025 (unaudited) AND DECMBER 31, 2024

 
                                  March 31, 2025     December 31, 2024 
                                 ----------------   ------------------- 
ASSETS 
Current Assets: 
  Cash and cash equivalents       $    27,810,160    $       28,330,159 
  Accounts receivable                     402,874             1,225,297 
  Prepaid expenses and other 
   assets                                 987,414             1,666,155 
                                     ------------       --------------- 
    Total Current Assets               29,200,448            31,221,611 
 
Non-current assets: 
  Natural gas and other 
   properties, successful 
   efforts method                      34,794,734            33,979,014 
  Renewable natural gas 
   properties, net of 
   accumulated depreciation of 
   $209,009 and $132,094, 
   respectively                         9,592,268             9,296,039 
  Value-added tax refund 
   receivable                           6,578,604             6,845,030 
  Operating lease right-of-use 
   assets                               1,777,356             1,744,897 
  Deferred tax assets                      48,276                     - 
                                     ------------       --------------- 
    Total Non-current Assets           52,791,238            51,864,980 
                                     ------------       --------------- 
    Total Assets                  $    81,991,686    $       83,086,591 
                                     ============       =============== 
 
LIABILITIES AND STOCKOLDERS' 
EQUITY 
Current Liabilities: 
  Accounts payable and accrued 
   expenses                       $     1,980,897    $        2,204,208 
  Lease liability, short-term             174,127               163,865 
    Total Current Liabilities           2,155,024             2,368,073 
 
Non-current Liabilities: 
  Asset retirement obligation           4,409,230             4,375,919 
  Lease liability, long-term            1,601,573             1,579,443 
  Contingent consideration 
   liability, long-term                25,980,832            24,994,315 
                                     ------------       --------------- 
  Total Non-current Liabilities        31,991,635            30,949,677 
                                     ------------       --------------- 
    Total Liabilities                  34,146,659            33,317,750 
 
Commitments and Contingencies 
(Note 6) 
 
Stockholders' Equity: 
  Class A Common Stock, par 
   value $0.0001 per share, 
   150,000,000 shares 
   authorized, 40,584,455 and 
   40,560,433 shares issued and 
   outstanding as of March 31, 
   2025 and December 31, 2024               4,058                 4,056 
  Class C Common Stock, par 
   value $0.0001 per share, 
   70,000,000 shares 
   authorized, 25,994,400 
   shares issued and 
   outstanding as of March 31, 
   2025 and December 31, 2024               2,599                 2,599 
  Additional paid-in capital          226,998,675           226,722,424 
  Accumulated other 
   comprehensive loss                  (5,109,054)           (5,803,378) 
  Accumulated deficit                (193,054,092)         (191,047,953) 
  Noncontrolling interest              19,002,841            19,891,093 
                                     ------------       --------------- 
    Total Stockholders' Equity         47,845,027            49,768,841 
                                     ------------       --------------- 
    Total Liabilities and 
     Stockholders' Equity         $    81,991,686    $       83,086,591 
                                     ============       =============== 
 
 

(END) Dow Jones Newswires

May 15, 2025 16:15 ET (20:15 GMT)