AleAnna, Inc. reports positive Adjusted EBITDA([1]) and net income for the fourth consecutive quarter
DALLAS, May 14, 2026 (GLOBE NEWSWIRE) -- AleAnna, Inc. ("AleAnna" or "the Company") $(ANNA)$ today announced financial and operational results for the first quarter of 2026. AleAnna reported Adjusted EBITDA([1]) of $4.3 million and net income of $3.4 million. AleAnna closed the period with a strong cash position of $31.1 million, supporting ongoing development activity and future strategic initiatives.
Financial and Operational Update
Following production ramp-up and stabilization at the Longanesi field during 2025, the Company recognized $8.9 million of revenue during the first quarter of 2026 from sales of its share of production from the Longanesi field.
During the first quarter, AleAnna generated net income of $3.4 million and Adjusted EBITDA([1]) of $4.3 million.
During the prior year, the Company commenced daily production from its Longanesi field, with the ramp-up exceeding expectations in both timing and volume.
During the first quarter of 2026, AleAnna, also announced significant increases in Proved Reserves Volumes in its year-end 2025 Third-Party Reserves Report from DeGolyer and MacNaughton, which reported an increase of Total Proved Reserves by 47% as compared to year-end 2024 after adjusting for 2025 production volumes. Year-end Total Proved Reserves increased 37% at Longanesi and 75% at Gradizza. Proved Developed Producing reserves were recognized for the first time at Longanesi, and Total Proved Reserves were recognized at Trava for the first time. Similar increases to AleAnna's undeveloped Prospective Resource are expected, and the Company intends to issue another statement on that subject in the near future.
Management Commentary
Marco Brun, Chief Executive Officer, remarked on AleAnna's recent accomplishments: "We continued to realize strong performance from our Longanesi field generating approximately $4.3 million of Adjusted EBITDA([1]) . We believe we are currently 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. 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. In the current energy environment, AleAnna is uniquely positioned to create substantial value, contributing to Italy's energy security through domestic natural gas production."
About AleAnna
AleAnna is a technology-driven energy company, focused on growing gas production in Italy and helping drive Italy's energy future. Further details can be found on our website at www.aleannainc.com/AboutAleAnna.
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. 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. A list and descriptions of these risks, uncertainties and other factors can be found in AleAnna's most recent Annual Report on Form 10-K, including in the sections captioned "Cautionary Note Regarding Forward-Looking Statements" and "Item 1A. Risk Factors," and in AleAnna's subsequent Quarterly Reports on Form 10-Q and other filings with the Securities Exchange Commission ("SEC"). 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/
ALEANNA, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE
INCOME (LOSS) (UNAUDITED)
FOR THE THREE MONTHS ENDED MARCH 31, 2026 AND 2025
For the Three Months Ended March 31,
2026 2025
-------------------- ----------------
Revenues $ 9,343,517 $ 644,600
Operating expenses
(income):
Cost of revenues 1,550,995 838,395
Lease operating expense 1,315,104 -
General and
administrative 2,215,573 3,324,845
Depreciation and
depletion 1,178,452 73,106
Accretion and
remeasurement of asset
retirement obligation (613,688) 33,505
Total operating
expenses 5,646,436 4,269,851
---------------- ---------------
Operating income (loss) 3,697,081 (3,625,251)
Other income:
Interest and other income 139,837 237,605
Total other income 139,837 237,605
---------------- ---------------
Income (loss) before
income taxes 3,836,918 (3,387,646)
Income tax (expense)
benefit (437,397) 48,276
---------------- ---------------
Net income (loss) 3,399,521 (3,339,370)
Net (income) loss
attributable to
noncontrolling
interests (1,325,652) 1,333,231
---------------- ---------------
Net income (loss)
attributable to Class
A Common stockholders
or holders of Common
Member Units $ 2,073,869 $ (2,006,139)
================ ===============
Other comprehensive (loss)
income
Currency translation
adjustment $ (1,071,653) $ 1,139,303
---------------- ---------------
Comprehensive income
(loss) 2,327,868 (2,200,067)
Comprehensive (income)
loss attributable to
noncontrolling
interests (907,095) 1,333,231
---------------- ---------------
Total comprehensive income
(loss) attributable to
Class A Common
stockholders or holders of
Common Member Units $ 1,420,773 $ (866,836)
================ ===============
ALEANNA, INC.
CONSOLIDATED BALANCE SHEETS (UNAUDITED)
AS OF MARCH 31, 2026 AND DECEMBER 31, 2025
March 31, 2026 December 31, 2025
---------------- -------------------
ASSETS
Current Assets:
Cash and cash equivalents $ 31,124,907 $ 31,826,830
Restricted cash 1,274,558 1,304,129
Accounts receivable 3,594,850 1,959,001
Prepaid expenses and other
assets 1,864,644 1,528,622
------------ ---------------
Total Current Assets 37,858,959 36,618,582
Non-current assets:
Natural gas and other
properties, successful
efforts method, net of
accumulated depreciation and
depletion of $3,486,616 and
$2,932,984, respectively 42,418,184 42,553,580
Renewable natural gas
properties, net of
accumulated depreciation of
$588,890 and $508,583,
respectively 10,506,660 10,744,121
Value-added tax refund
receivable 10,424,243 9,589,576
Operating lease right-of-use
assets 151,455 1,790,461
------------ ---------------
Total Non-current Assets 63,500,542 64,677,738
------------ ---------------
Total Assets $ 101,359,501 $ 101,296,320
============ ===============
LIABILITIES AND STOCKHOLDERS'
EQUITY
Current Liabilities:
Accounts payable and accrued
expenses $ 8,202,635 $ 6,776,384
Income tax payable 843,417 417,568
Lease liability, short-term 151,455 200,419
Contingent consideration
liability, short-term 11,278,795 11,576,846
Total Current Liabilities 20,476,302 18,971,217
Non-current Liabilities:
Asset retirement obligation 2,980,553 4,507,921
Deferred tax liability 876,395 897,812
Lease liability, long-term 38,753 1,588,243
Contingent consideration
liability, long-term 16,275,760 16,651,065
------------ ---------------
Total Non-current
Liabilities 20,171,461 23,645,041
------------ ---------------
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