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Side-by-side financial comparison of AEMETIS, INC (AMTX) and STEM, INC. (STEM). Click either name above to swap in a different company.
STEM, INC. is the larger business by last-quarter revenue ($47.1M vs $43.3M, roughly 1.1× AEMETIS, INC). On growth, AEMETIS, INC posted the faster year-over-year revenue change (-7.9% vs -15.6%). Over the past eight quarters, STEM, INC.'s revenue compounded faster (36.1% CAGR vs -22.8%).
Aemetis, Inc. is a renewable fuels and sustainable biochemicals producer operating across North America and India. Its core products include low-carbon ethanol, renewable natural gas and biodiesel, serving transportation, industrial and agricultural sectors with decarbonization solutions for commercial clients.
StemCells, Inc. is a public biopharmaceutical company headquartered in Newark, California, that is developing purified human neural stem cells (HuCNS-SCs) in the hopes of treating central nervous system disorders and paralysis. StemCells' HuCNS-SCs have the ability to differentiate into the three main types of cells found in the central nervous system: neurons, astrocytes and oligodendrocytes.
AMTX vs STEM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.3M | $47.1M |
| Net Profit | — | $-16.0M |
| Gross Margin | 17.8% | 48.9% |
| Operating Margin | -5.7% | -17.7% |
| Net Margin | — | -33.9% |
| Revenue YoY | -7.9% | -15.6% |
| Net Profit YoY | — | 68.8% |
| EPS (diluted) | $-0.03 | $-4.40 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $43.3M | $47.1M | ||
| Q3 25 | $59.2M | $38.2M | ||
| Q2 25 | $52.2M | $38.4M | ||
| Q1 25 | $42.9M | $32.5M | ||
| Q4 24 | $47.0M | $55.8M | ||
| Q3 24 | $81.4M | $29.3M | ||
| Q2 24 | $66.6M | $34.0M | ||
| Q1 24 | $72.6M | $25.5M |
| Q4 25 | — | $-16.0M | ||
| Q3 25 | $-23.7M | $-23.8M | ||
| Q2 25 | $-23.4M | $202.5M | ||
| Q1 25 | $-24.5M | $-25.0M | ||
| Q4 24 | — | $-51.1M | ||
| Q3 24 | $-17.9M | $-148.3M | ||
| Q2 24 | $-29.2M | $-582.3M | ||
| Q1 24 | $-24.2M | $-72.3M |
| Q4 25 | 17.8% | 48.9% | ||
| Q3 25 | -0.1% | 35.5% | ||
| Q2 25 | -6.4% | 33.4% | ||
| Q1 25 | -11.8% | 32.4% | ||
| Q4 24 | -4.3% | -4.4% | ||
| Q3 24 | 4.8% | 21.2% | ||
| Q2 24 | -2.7% | 27.6% | ||
| Q1 24 | -0.8% | -95.0% |
| Q4 25 | -5.7% | -17.7% | ||
| Q3 25 | -14.4% | -33.6% | ||
| Q2 25 | -20.4% | -34.8% | ||
| Q1 25 | -36.3% | -65.0% | ||
| Q4 24 | -28.7% | -84.4% | ||
| Q3 24 | -4.8% | -493.2% | ||
| Q2 24 | -20.4% | -1705.5% | ||
| Q1 24 | -13.0% | -267.0% |
| Q4 25 | — | -33.9% | ||
| Q3 25 | -40.1% | -62.2% | ||
| Q2 25 | -44.8% | 527.8% | ||
| Q1 25 | -57.2% | -76.9% | ||
| Q4 24 | — | -91.6% | ||
| Q3 24 | -22.0% | -506.3% | ||
| Q2 24 | -43.8% | -1712.6% | ||
| Q1 24 | -33.4% | -283.9% |
| Q4 25 | $-0.03 | $-4.40 | ||
| Q3 25 | $-0.37 | $-2.84 | ||
| Q2 25 | $-0.41 | $-1.79 | ||
| Q1 25 | $-0.47 | $-0.15 | ||
| Q4 24 | $-0.29 | $-15.29 | ||
| Q3 24 | $-0.38 | $-18.24 | ||
| Q2 24 | $-0.66 | $-71.81 | ||
| Q1 24 | $-0.58 | $-0.46 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $4.9M | $48.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-306.8M | $-249.4M |
| Total Assets | $259.8M | $308.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.9M | $48.9M | ||
| Q3 25 | $5.6M | $43.1M | ||
| Q2 25 | $1.6M | $40.8M | ||
| Q1 25 | $499.0K | $58.6M | ||
| Q4 24 | $898.0K | $56.3M | ||
| Q3 24 | $296.0K | $75.4M | ||
| Q2 24 | $234.0K | $89.6M | ||
| Q1 24 | $1.6M | $112.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $338.1M | — | ||
| Q3 24 | $322.2M | — | ||
| Q2 24 | $309.0M | — | ||
| Q1 24 | $307.2M | — |
| Q4 25 | $-306.8M | $-249.4M | ||
| Q3 25 | $-304.9M | $-235.7M | ||
| Q2 25 | $-289.3M | $-214.1M | ||
| Q1 25 | $-280.7M | $-417.5M | ||
| Q4 24 | $-263.9M | $-398.4M | ||
| Q3 24 | $-258.9M | $-344.1M | ||
| Q2 24 | $-249.0M | $-203.2M | ||
| Q1 24 | $-232.1M | $371.6M |
| Q4 25 | $259.8M | $308.9M | ||
| Q3 25 | $241.1M | $362.6M | ||
| Q2 25 | $240.0M | $379.2M | ||
| Q1 25 | $242.5M | $405.1M | ||
| Q4 24 | $259.3M | $437.4M | ||
| Q3 24 | $259.3M | $537.8M | ||
| Q2 24 | $259.3M | $691.5M | ||
| Q1 24 | $259.3M | $1.3B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $5.8M | $8.2M |
| Free Cash FlowOCF − Capex | $-10.8M | — |
| FCF MarginFCF / Revenue | -24.9% | — |
| Capex IntensityCapex / Revenue | 38.2% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-22.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.8M | $8.2M | ||
| Q3 25 | $3.1M | $11.4M | ||
| Q2 25 | $-5.7M | $-21.3M | ||
| Q1 25 | $160.0K | $8.5M | ||
| Q4 24 | $-12.6M | $-14.7M | ||
| Q3 24 | $-5.0M | $-9.4M | ||
| Q2 24 | $-5.1M | $-11.9M | ||
| Q1 24 | $-10.3M | $-621.0K |
| Q4 25 | $-10.8M | — | ||
| Q3 25 | $-1.0M | — | ||
| Q2 25 | $-9.3M | — | ||
| Q1 25 | $-1.7M | — | ||
| Q4 24 | $-19.4M | — | ||
| Q3 24 | $-9.5M | — | ||
| Q2 24 | $-10.5M | — | ||
| Q1 24 | $-13.9M | — |
| Q4 25 | -24.9% | — | ||
| Q3 25 | -1.7% | — | ||
| Q2 25 | -17.7% | — | ||
| Q1 25 | -3.9% | — | ||
| Q4 24 | -41.2% | — | ||
| Q3 24 | -11.6% | — | ||
| Q2 24 | -15.8% | — | ||
| Q1 24 | -19.1% | — |
| Q4 25 | 38.2% | — | ||
| Q3 25 | 6.9% | — | ||
| Q2 25 | 6.7% | — | ||
| Q1 25 | 4.3% | — | ||
| Q4 24 | 14.4% | — | ||
| Q3 24 | 5.5% | — | ||
| Q2 24 | 8.1% | — | ||
| Q1 24 | 4.9% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -0.11× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AMTX
| Ethanol Sales | $28.8M | 66% |
| Wet Distillers Grains | $6.8M | 16% |
| California Dairy Renewable Natural Gas | $5.2M | 12% |
| Other | $1.8M | 4% |
STEM
Segment breakdown not available.
