The company's financial foundation has deteriorated, with total assets contracting from $241.6 million in 2023Q4 to $105.2 million by 2026Q1, while equity remains impaired by a history of accumulated losses.
| Total Current Assets | 47.96M | 39.69M | 99.33M | 172.7M | 123.9M | 680.93K | 76.59M |
| Cash & Short-Term Investments | 19.86M | 13.16M | 55.87M | 120.74M | 83.05M | 343.4K | 60.49M |
| Cash Only | 19.86M | 13.16M | 43.5M | 75.58M | 83.05M | 343.4K | 60.49M |
| Short-Term Investments | 0 | 0 | 12.37M | 45.16M | 0 | 0 | 0 |
| Accounts Receivable | 10.56M | 9.53M | 28.43M | 39.4M | 29.7M | 14.58M | 11.71M |
| Days Sales Outstanding | 83.18 | 62.27 | 209.25 | 229.59 | 290.25 | 208.99 | 232.83 |
| Inventory | 0 | 0 | 0 | 5.34M | 4.16M | 2.9M | 1.95M |
| Days Inventory Outstanding | - | - | - | 43.37 | 53.73 | 69.51 | 61.46 |
| Other Current Assets | 17.54M | 17M | 15.03M | 3.52M | 4.16M | -17.48M | 1.02M |
| Total Non-Current Assets | 57.25M | 60.52M | 75.35M | 68.92M | 52.96M | 150.19M | 42.39M |
| Property, Plant & Equipment | 30.27M | 31.51M | 49.12M | 41.13M | 26.66M | 18.83M | 17.97M |
| Fixed Asset Turnover | 1.81x | 1.77x | 1.01x | 1.52x | 1.40x | 1.35x | 1.02x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 58.24M | 28.26M | 19.35M | 22.06M | 25.55M | 24.75M | 23.22M |
| Other Non-Current Assets | 26.98M | 751K | 6.87M | 5.74M | 750K | 106.6M | 1.2M |
| Total Assets | 105.21M | 100.21M | 174.68M | 241.62M | 176.86M | 150.87M | 118.98M |
| Asset Turnover | 0.55x | 0.56x | 0.28x | 0.26x | 0.21x | 0.17x | 0.15x |
| Asset Growth % | -158.22% | -42.63% | -27.7% | 36.62% | 17.22% | 26.8% | - |
| Total Current Liabilities | 24.41M | 27.72M | 30.45M | 27.78M | 55.98M | 751.36K | 15.2M |
| Accounts Payable | 10.44M | 10.87M | 5.29M | 4.06M | 7.46M | 85.53K | 1.15M |
| Days Payables Outstanding | 88.98 | 129.88 | 74.34 | 32.95 | 96.2 | 2.05 | 36.12 |
| Short-Term Debt | 354K | 0 | 0 | 0 | 0 | 0 | 570K |
| Deferred Revenue (Current) | 5.59M | 0 | 6.17M | 3.2M | 3.1M | 3.48M | 5.48M |
| Other Current Liabilities | 13.62M | 16.68M | 7.65M | 7.61M | 33.09M | -5.53M | 0 |
| Current Ratio | 1.96x | 1.43x | 3.26x | 6.22x | 2.21x | 0.91x | 5.04x |
| Quick Ratio | 1.96x | 1.43x | 3.26x | 6.02x | 2.14x | -2.95x | 4.91x |
| Cash Conversion Cycle | -5.8 | - | - | 240.01 | 247.78 | 276.44 | 258.17 |
| Total Non-Current Liabilities | 32.74M | 76.38M | 130.79M | 99.37M | 549.6M | 10.86M | 414.99M |
| Long-Term Debt | 15.97M | 10.9M | 51.11M | 0 | 0 | 0 | 3.06M |
| Capital Lease Obligations | 49.56M | 16.39M | 30.62M | 19.82M | 6.62M | 3.28M | 5.33M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 16.76M | 43.19M | 43.83M | 71.32M | 532.22M | -6.32M | 395.3M |
| Total Liabilities | 57.15M | 104.1M | 161.24M | 127.15M | 605.58M | 11.61M | 430.2M |
| Total Debt | 16.33M | 27.46M | 81.89M | 19.94M | 7.41M | 5.33M | 10.59M |
| Net Debt | -3.53M | 14.3M | 38.39M | -55.64M | -75.63M | 4.99M | -49.91M |
| Debt / Equity | 0.34x | - | 6.09x | 0.17x | - | 0.04x | - |
| Debt / EBITDA | -0.31x | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.07x | - | - | - | - | - | - |
| Interest Coverage | - | - | - | - | - | -6946.71x | -112.62x |
| Total Equity | 48.06M | -3.89M | 13.45M | 114.47M | -428.72M | 139.26M | -311.22M |
| Equity Growth % | 3790.79% | -128.94% | -88.25% | 126.7% | -407.86% | 144.75% | - |
| Book Value per Share | 20.71 | -1.68 | 6.81 | 65.03 | -4608.92 | 742.72 | -190.95 |
| Total Shareholders' Equity | 48.06M | -3.89M | 13.45M | 114.47M | -428.72M | 139.26M | -311.22M |
| Common Stock | 23K | 23K | 19K | 19K | 1K | 150M | 0 |
| Retained Earnings | -1.03B | -1.02B | -969.6M | -831.87M | -456.25M | -10.74M | -333.2M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 1.44M | 1.44M | 1.39M | 2.36M | 2.74M | 3.26M | 3.17M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Liquidity and Dilution Risk
As reported in financial statements, LanzaTech's total assets have contracted from $241.6 million in 2023Q4 to $105.2 million by 2026Q1, signaling a significant deterioration in the company's balance sheet strength as it continues to fund its high-burn operational model through existing capital reserves.
The consistent decline in total assets alongside a persistent negative retained earnings balance of $1.0 billion suggests that the company is consuming its capital base to sustain R&D and commercialization efforts. This trajectory indicates that the business model has yet to reach a self-sustaining scale, leaving the balance sheet increasingly fragile.
Based on the most recent quarterly data, LanzaTech's cash position has dwindled to $19.9 million in 2026Q1, down from a peak of $75.6 million in 2023Q4, which highlights a narrowing liquidity buffer that may struggle to support the firm's ongoing cash-intensive industrial project requirements.
While the current ratio of 1.96 appears superficially adequate, the rapid depletion of cash reserves relative to the company's historical burn rate warrants significant caution. Investors should monitor whether the company can secure non-dilutive funding or reach project milestones quickly enough to avoid a liquidity crunch.
According to the company's balance sheet, equity has experienced extreme volatility, swinging from a positive $114.5 million in 2023Q4 to a negative $3.9 million in 2025Q4, before recovering slightly to $48.1 million in 2026Q1, reflecting the severe impact of accumulated losses on shareholder value.
The instability in equity levels suggests that the company's capital structure is highly sensitive to the timing of financing rounds and the ongoing accumulation of net losses. This volatility underscores the risk that future equity-based compensation or capital raises could lead to significant dilution for existing shareholders.
As evidenced by the provided data, the company's reliance on $30.3 million in net PPE as of 2026Q1, despite a lack of consistent profitability, suggests that the firm's asset base is heavily tied to specialized infrastructure that may be difficult to monetize if commercial adoption stalls.
The absence of goodwill on the balance sheet is a positive indicator of conservative accounting, yet the concentration of value in tangible assets that require ongoing maintenance and optimization creates a rigid cost structure. This asset mix implies that the company is vulnerable to technological obsolescence or project delays, which could necessitate future asset impairments.
Quick answers to the most common questions about buying LNZA stock.
As of 2025, LanzaTech Global, Inc. (LNZA) had total assets of $100.2M including $39.7M in current assets.
LanzaTech Global, Inc. (LNZA) carries total debt of $27.5M, offset by $13.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
LanzaTech Global, Inc. (LNZA) has total shareholders' equity (book value) of $-3.9M ($-1.68 book value per share). Book value represents the net worth of the company belonging to common stock holders.
LanzaTech Global, Inc. (LNZA) reported a current ratio of 1.43x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.