Progress toward breakeven continued with revenue growth from OMC contract deliveries and gross profit positivity from lower corn costs and reduced grinding, though elevated capex for RNG projects and operating cash needs drove intensified cash burn.
Key takeaways
Revenue increased to $54.6M, up 27.4% year-over-year, primarily due to delivery on OMC contracts.
Operating loss narrowed to -$6.3M, a 59.3% improvement, reflecting revenue growth outpacing expense increases.
Net loss improved to -$21.7M from -$24.5M, with diluted EPS of -$0.33 versus -$0.47.