Apr. 25 at 8:29 AM
$AMTX In their best recent year (2024), Aemetis India's subsidiary generated ~
$93–103 million in revenue from biodiesel deliveries, yet contributed only very thin positive gross profit, not enough to prevent the entire company from reporting a
$580,000 gross loss overall. After 17+ years of operation, the business still runs on razor-thin (low single-digit or near-zero) margins due to cost-plus OMC contracts where feedstock consumes 80-90%+ of revenue, with intermittent government orders causing wild swings (down to just
$29.7M revenue in 2025).
This is a classic low-quality, policy-dependent asset with minimal earnings power and no meaningful cash accumulation, exactly why hyping a 2026 IPO on it looks absurd and risky. My advice, treat the India story as near-worthless for valuation.