DALLAS, March 30, 2026 (GLOBE NEWSWIRE) -- AleAnna, Inc. ("AleAnna" or "the Company") $(ANNA)$ today announced financial and operational results for the fourth quarter and full year of 2025. AleAnna reported full year net income of $2.9 million and Adjusted EBITDA([1]) of $6.6 million.
Fourth Quarter 2025 Results and Recent Company Highlights:
-- AleAnna generated $0.3 million of net income and $3.0 million of Adjusted
EBITDA in the fourth quarter, driven by strong production at the
Longanesi field, generating $9.1 million of revenue in the quarter.
-- AleAnna closed the period with a strong cash position of $31.8 million,
supporting ongoing development activity and future strategic initiatives.
-- Gradizza Concession secured which represents a first milestone within a
broader growth and value creation Program.
-- Following successful establishment of production at Longanesi, and
completion of an extensive technical study, AleAnna's reserves have
increased significantly.
Financial and Operational Update
Following production ramp-up and rate stabilization at the Longanesi field during the first half of 2025, the Company recognized $8.5 million of revenue during the fourth quarter of 2025 from sales of its share of production from the Longanesi field.
During the fourth quarter, AleAnna generated $3.0 million of Adjusted EBITDA([1]) .
During the second quarter, the Company commenced daily production from its Longanesi field, with the ramp-up significantly exceeding expectations in both timing and volume. Total production stabilized at approximately 25-30 million cubic feet per day after approximately six weeks. The stabilized production rate is slightly higher than AleAnna's budgeted maximum production rate for 2025. All five of Longanesi's wells are currently contributing to production.
Management Commentary
Marco Brun, Chief Executive Officer, remarked on AleAnna's recent accomplishments: "The fourth quarter marks another significant milestone for AleAnna as we continued to realize strong performance from our Longanesi field generating approximately $3.0 million of Adjusted EBITDA([1]) . We are on track to exceed our expectations for the performance of the Longanesi field.
In parallel, we continue to deliver on our plan to advance our broader growth strategy across both conventional and renewable natural gas. With a solid balance sheet, positive cash flow, and a growing asset base, we are well-positioned to deliver sustainable value creation for our shareholders."
About AleAnna
AleAnna is a technology-driven energy company focused on bringing sustainability and new supplies of low-carbon natural gas and renewable natural gas ("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 fourteen new natural gas exploration projects planned this decade, AleAnna plays a significant 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. AleAnna operates regional headquarters in Dallas, Texas, and Rome and Milan, Italy.
Forward-Looking Statements
The information included herein 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. Certain statements, other than statements of present or historical fact included herein regarding AleAnna's future operations, financial position, plans 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," "estimate," "expect," "project," 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 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. AleAnna's actual results and financial condition may 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. 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 "Item 1A. Risk Factors" in AleAnna's most recent Annual Report on Form 10-K, any subsequent Quarterly Reports on Form 10-Q, and in other public filings with the SEC, as well as general economic conditions; AleAnna's need for additional capital; risks associated with the growth of AleAnna's business; 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 Contact
Ivan Ronald
ironald@aleannagroup.com
Website
https://www.aleannainc.com/
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
FOR THE THREE AND TWELVE MONTHS ENDED DECEMBER 31, 2025 AND 2024
For the Three Months For the Year Ended December
Ended December 31, 31,
2025 2024
(unaudited) (unaudited) 2025 2024
----------- ------------ ----------- -------------
Revenues $ 9,135,859 $ 771,702 $25,035,737 $ 1,420,030
Operating
expenses:
Cost of revenues 2,900,370 504,567 6,195,475 1,043,174
Lease operating
expense 1,459,062 - 3,207,562 -
General and
administrative 2,478,704 1,790,254 9,664,653 6,264,087
Depreciation and
depletion 2,048,341 82,205 2,933,481 133,516
Accretion of
asset
retirement
obligation 33,483 33,309 132,002 133,239
Business
combination
transaction
expenses - 8,398,653 - 8,398,653
---------- ----------- ---------- ------------
Total operating
expenses 8,919,960 10,808,988 22,133,172 15,972,669
---------- ----------- ---------- ------------
Operating income
(loss) 215,899 (10,037,286) 2,902,565 (14,552,639)
Other income:
Interest and
other income 704,608 622,621 1,242,899 1,948,281
Change in fair
value of
derivative
liability - - - 173,177
---------- ----------- ---------- ------------
Total other
income 704,608 622,621 1,242,899 2,121,458
---------- ----------- ---------- ------------
Income (loss)
before income
taxes 920,507 (9,414,665) 4,145,464 (12,431,181)
Income tax
expense (662,409) - (1,263,396) -
---------- ----------- ---------- ------------
Net income
(loss) 258,098 (9,414,665) 2,882,068 (12,431,181)
Deemed dividend
to Class 1
Preferred
Units
redemption
value - - (155,423,177)
Net loss
(income)
attributable
to
noncontrolling
interests (115,690) 87,511 (1,082,958) 87,511
---------- ----------- ---------- ------------
Net income
(loss)
attributable
to Class A
Common
stockholders
or holders of
Common Member
Units $ 142,409 $ (9,327,154) $ 1,799,110 $(167,766,847)
========== =========== ========== ============
Other
comprehensive
income (loss)
Currency
translation
adjustment $ (686,222) $ (2,859,314) $ 4,111,281 $ (1,548,154)
---------- ----------- ---------- ------------
Comprehensive
income (loss) (428,124) (12,273,979) 6,993,349 (13,979,335)
Comprehensive
loss (income)
attributable
to
noncontrolling
interests (46,238) 87,511 (3,332,249) 87,511
---------- ----------- ---------- ------------
Total
comprehensive
income (loss)
attributable to
Class A Common
stockholders or
holders of Common
Member Units $ (474,362) $(12,186,468) $ 3,661,100 $ (13,891,824)
========== =========== ========== ============
CONSOLIDATED BALANCE SHEETS
AS OF DECEMBER 31, 2025 and 2024
December 31, December 31,
2025 2024
ASSETS
Current Assets:
Cash and cash equivalents $ 31,826,830 $ 28,330,159
Restricted cash 1,304,129 -
Accounts receivable 1,959,001 1,225,297
Prepaid expenses and other
assets 1,528,622 1,666,155
Total Current Assets 36,618,582 31,221,611
Non-current assets:
Natural gas and other
properties, successful efforts
method, net of accumulated
depreciation and depletion of
$2,932,984 and $0,
respectively 42,553,580 33,979,014
Renewable natural gas
properties, net of accumulated
depreciation of $508,583 and
$132,094, respectively 10,744,121 9,296,039
Value-added tax refund
receivable 9,589,576 6,845,030
Operating lease right-of-use
assets 1,790,461 1,744,897
Total Non-current Assets 64,677,738 51,864,980
Total Assets $ 101,296,320 $ 83,086,591
============ ============
LIABILITIES AND STOCKHOLDERS'
EQUITY
Current Liabilities:
Accounts payable and accrued
expenses $ 6,776,384 $ 2,204,208
Income tax payable 417,568 -
Lease liability, short-term 200,419 163,865
Contingent consideration
liability, short-term 11,576,846 -
Total Current Liabilities 18,971,217 2,368,073
Non-current Liabilities:
Asset retirement obligation 4,507,921 4,375,919
Deferred tax liability 897,812 -
Lease liability, long-term 1,588,243 1,579,443
Contingent consideration
liability, long-term 16,651,065 24,994,315
Total Non-current Liabilities 23,645,041 30,949,677
Total Liabilities 42,616,258 33,317,750
Commitments and Contingencies
Stockholders' Equity:
Class A Common Stock, par value
$0.0001 per share, 150,000,000
shares authorized, 40,659,881
and 40,560,433 shares issued
and outstanding as of December
31, 2025 and 2024,
respectively 4,066 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 December 31, 2025 and
2024, respectively 2,599 2,599
Additional paid-in capital 228,640,286 226,722,424
Accumulated other comprehensive
loss (3,941,388) (5,803,378)
Accumulated deficit (189,248,843) (191,047,953)
Noncontrolling interest 23,223,342 19,891,093
Total Stockholders' Equity 58,680,062 49,768,841
------------ ------------
Total Liabilities and
Stockholders' Equity $ 101,296,320 $ 83,086,591
============ ============
SEGMENT OPERATING RESULTS
Three Months Ended December 31, 2025
Conventional Renewable Total
Unaudited
Revenues $ 8,476,797 $ 659,062 $ 9,135,859
Less:
Cost of revenues 1,599,978 1,300,392
Lease operating
expense 1,459,062 -
Segment general
and
administrative 109,698 (264,602)
Depreciation and
depletion 1,958,416 89,925
Accretion of
asset
retirement
obligation 33,483 -
Segment
operating
income (loss) $ 3,316,160 $ (466,653) $ 2,849,507
Reconciling items:
Less: Corporate
general and
administrative $ 2,633,608
Interest and
other income 704,608
Income before
income taxes $ 920,507
Segment assets $ 67,310,047 $ 16,133,887 $ 83,443,934
Corporate and
other assets 17,852,386
Total assets $ 101,296,320
Year Ended December 31, 2025
------------------------------------------
Conventional Renewable Total
Revenues $ 22,369,981 $ 2,665,756 $ 25,035,737
Less:
Cost of revenues $ 2,948,757 $ 3,246,718
Lease operating
expense 3,207,562 -
Segment general
and
administrative 2,653,853 1,889,476
Depreciation and
depletion 2,586,564 346,916
Accretion of asset
retirement
obligation 132,002 -
---------- ---------- ------------
Segment operating
income (loss) $ 10,841,243 $(2,817,354) $ 8,023,889
Reconciling items:
Less: Corporate
general and
administrative $ 5,121,324
Interest and
other income 1,242,899
-----------
Income (loss)
before income
taxes $ 4,145,464
Segment assets $ 67,310,047 $16,133,887 $ 83,443,934
Corporate and
other assets 17,852,386
-----------
Total assets $101,296,320
Three Months Ended December 31, 2024
Conventional Renewable Total
-------------- ----------- -----------
Unaudited
Revenues $ - $ 771,702 $ 771,702
Less:
Cost of revenues $ - $ 504,567
Segment general
and
administrative 642,991 586,052
Depreciation and
depletion - 82,205
Accretion of
asset retirement
obligation 33,309 -
---------- ---------- -----------
Segment
operating
income (loss) $ (676,300) $ (401,122) $(1,077,423)
Reconciling items:
Less: Corporate
general and
administrative $ 561,210
Business
combination
transaction
expenses $(8,398,653)
Interest and
other income 622,621
----------
Income (loss)
before income
taxes $(9,414,665)
Segment assets $ 44,962,865 $14,150,411 $59,113,276
Corporate and
other assets 23,973,315
----------
Total Assets $83,086,591
Year Ended December 31, 2024
-------------------------------------------
Conventional Renewable Total
-------------- ----------- ------------
Revenues $ - $ 1,420,030 $ 1,420,030
---------- ---------- -----------
Less:
Cost of revenues $ - $ 1,043,174
Segment general
and
administrative 2,639,824 1,502,054
Depreciation and
depletion - 133,516
Accretion of
asset
retirement
obligation 133,239 -
---------- ---------- ------------
Segment
operating
income (loss) $ (2,773,063) $(1,258,714) $ (4,031,777)
Reconciling items:
Less: Corporate
general and
administrative $ 2,122,209
Business
combination
transaction
expenses (8,398,653)
Interest and
other income 1,948,281
Change in fair
value of
derivative
liability 173,177
-----------
Income (loss)
before income
taxes $(12,431,181)
Segment assets $ 44,962,865 $14,150,411 $ 59,113,276
Corporate and
other assets 23,973,315
-----------
Total Assets $ 83,086,591
NON-GAAP MEASURES
Non-GAAP Performance Measures and Definitions
In addition to amounts presented in accordance with generally accepted accounting principles in the United States of America ("GAAP"), we also present certain supplemental non-GAAP performance measures. We believe that the presentation of non-GAAP financial measures provides both management and investors with a greater understanding of the Company's operating results and trends in addition to the results measured in accordance with GAAP and provides greater comparability across time periods. These measures are not to be considered more relevant or accurate than the measures presented in accordance with GAAP. The non-GAAP financial measures do not have any standardized meaning and are therefore unlikely to be comparable to similarly titled measures used by other companies. In compliance with the requirements of the SEC, our non-GAAP measures are reconciled to net income, the most directly comparable GAAP performance measure. For all non-GAAP measures, neither the SEC nor any other regulatory body has passed judgment on these non-GAAP measures.
EBITDA and Adjusted EBITDA
EBITDA and Adjusted EBITDA are both non-GAAP financial measures. EBITDA is calculated as net income before interest expense, taxes, depreciation, depletion and amortization. We adjust EBITDA for stock compensation, acquisition costs and one-off items such as transaction expenses to reach Adjusted EBITDA. The purpose of presenting non-GAAP measures is to highlight earnings without finance, taxes, and depreciation, depletion and amortization expense, as well as stock compensation and transaction expense, and their use is limited to specialized analysis. We present EBITDA and Adjusted EBITDA because we believe it provides useful additional information to investors for specialized analysis of our performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance.
The following table presents a reconciliation of Adjusted EBITDA to net income for the three months ended December 31, 2025 and for the year ended December 31, 2025:
Three Months Ended Year Ended
-------------------- -------------------
December 31, 2025 December 31, 2025
-------------------- -------------------
Net Income $ 258,098 $ 2,882,068
Add (deduct):
Interest (704,608) (1,242,899)
Tax expense 662,409 1,263,396
Depreciation, depletion
and amortization 2,048,341 2,933,481
---------------- ---------------
EBITDA $ 2,264,240 $ 5,836,046
---------------- ---------------
Add:
Stock compensation
expense 774,220 774,220
---------------- ---------------
Adjusted EBITDA $ 3,038,460 $ 6,610,266
================ ===============
(END) Dow Jones Newswires
March 30, 2026 18:36 ET (22:36 GMT)
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