Ethanol Sales was Aemetis’s largest product and service line in fiscal 2025, bringing in $115.83M of $197.63M (59%).
| Product and Service | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| Alternative Energy, Ethanol | $165.88M | — | — | — |
| Ethanol Sales | — | $78.40M | $118.88M | $115.83M |
| Renewable Energy, Biodiesel | $27.04M | $74.50M | $86.65M | $23.51M |
| Wet Distillers Grains | $50.93M | $21.96M | $36.21M | $29.98M |
| Product & Service, Other | $12.46M | $6.39M | $12.86M | $13.57M |
| Rin Sales | — | $4.47M | $9.21M | $8.66M |
| Lcfs Credit Sales | — | — | $2.92M | $4.74M |
| Gas Sales | — | $981.00K | $907.00K | $1.33M |
| Gas Molecules & Rin Credits | $208.00K | — | — | — |
| Total | $256.51M | $186.72M | $267.64M | $197.63M |
Aemetis brought in $197.63M from its seven product and service lines in fiscal 2025, the year ended December 31, 2025. That was down 26.2% from $267.64M in fiscal 2024. Ethanol Sales was the largest at $115.83M (58.6%), ahead of Wet Distillers Grains at $29.98M (15.2%) and Renewable Energy, Biodiesel at $23.51M (11.9%). The other four lines brought in $28.30M combined.
Compared with fiscal 2024, Lcfs Credit Sales grew fastest, up 62.1% to $4.74M, while Renewable Energy, Biodiesel fell the most, down 72.9% to $23.51M.
Aemetis began breaking out Ethanol Sales in fiscal 2023, Rin Sales in fiscal 2023, Lcfs Credit Sales in fiscal 2024 and Gas Sales in fiscal 2023. Aemetis stopped reporting Alternative Energy, Ethanol ($165.88M in fiscal 2022) and Gas Molecules & Rin Credits ($208.00K in fiscal 2022) as separate lines.
California Ethanol was Aemetis’s largest segment in fiscal 2025, bringing in $153.23M of $197.63M (78%).
| Segment | FY 2016 | FY 2017 | FY 2018 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|
| California Ethanol | $228.19M | $104.07M | $161.76M | $153.23M | ||||
| North America | — | — | — | — | ||||
| Ethanol Sales | — | — | — | — | ||||
| India Biodiesel | $28.11M | $77.19M | $92.85M | $29.66M | ||||
| Wet Distiller's Grains Sales | — | — | — | — | ||||
| India | — | — | — | — | ||||
| Biodiesel Sales | — | — | — | — | ||||
| California Dairy Renewable Natural Gas | $208.00K | $5.46M | $13.04M | $14.73M | ||||
| Other Sales | — | — | — | — | ||||
| Refined Glycerin Sales | — | — | — | — | ||||
| Other Segments | — | — | — | — | ||||
| Total | $256.51M | $186.72M | $267.64M | $197.63M |
Aemetis brought in $197.63M from its three segments in fiscal 2025, the year ended December 31, 2025. That was down 26.2% from $267.64M in fiscal 2024. California Ethanol was the largest at $153.23M (77.5%), ahead of India Biodiesel at $29.66M (15.0%) and California Dairy Renewable Natural Gas at $14.73M (7.5%).
Compared with fiscal 2024, California Dairy Renewable Natural Gas grew fastest, up 13.0% to $14.73M, while India Biodiesel fell the most, down 68.1% to $29.66M. From fiscal 2022 to 2025, combined revenue from these segments fell from $256.51M to $197.63M, a compound annual decline of 8.3%. California Ethanol's share of the total fell from 89.0% to 77.5%.
Kinergy was Aemetis’s largest revenue line in fiscal 2021, bringing in $110.70M of $210.06M (53%).
| Counterparty Name | FY 2021 |
|---|---|
| Kinergy | $110.70M |
| Murex | $51.70M |
| J.D. Heiskell | $47.66M |
| Total | $210.06M |
Aemetis brought in $210.06M from its three revenue lines in fiscal 2021, the year ended December 31, 2021. Kinergy was the largest at $110.70M (52.7%), ahead of Murex at $51.70M (24.6%) and J.D. Heiskell at $47.66M (22.7%).
Aemetis (AMTX) reports its revenue by product and service, by segment and by counterparty name. In fiscal 2025, Ethanol Sales was its largest product and service line, bringing in $115.83M (58.6% of the total), followed by Wet Distillers Grains at $29.98M (15.2%).
Ethanol Sales was Aemetis' largest product and service line in fiscal 2025, bringing in $115.83M, or 58.6% of the $197.63M total across its seven product and service lines.
California Ethanol was Aemetis' largest segment in fiscal 2025, bringing in $153.23M, or 77.5% of the $197.63M total across its three segments.
Kinergy was Aemetis' largest revenue line in fiscal 2021, bringing in $110.70M, or 52.7% of the $210.06M total across its three revenue lines.
Among Aemetis' product and service lines that make up at least 2% of revenue, Lcfs Credit Sales grew fastest in fiscal 2025, up 62.1% from $2.92M to $4.74M.
Every figure comes from Aemetis' annual financial filings, as reported. Each line keeps the name Aemetis gives it, and years follow its fiscal calendar.
Aemetis' revenue by product and service goes back to fiscal 2022, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.