AleAnna, Inc. Reports First Quarter 2025 Results

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”) (NASDAQ: 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 €1.1 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 ContactBill Dirkswkdirks@aleannagroup.com Websitehttps://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 SHEETSAS 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

AleAnna, Inc. Reports First Quarter 2025 Results

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