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Side-by-side financial comparison of LanzaTech Global, Inc. (LNZA) and REDWOOD TRUST INC (RWT). Click either name above to swap in a different company.

LanzaTech Global, Inc. is the larger business by last-quarter revenue ($28.0M vs $25.9M, roughly 1.1× REDWOOD TRUST INC). REDWOOD TRUST INC runs the higher net margin — 77.2% vs -0.3%, a 77.5% gap on every dollar of revenue. On growth, LanzaTech Global, Inc. posted the faster year-over-year revenue change (132.7% vs -6.1%). Over the past eight quarters, LanzaTech Global, Inc.'s revenue compounded faster (65.3% CAGR vs -41.0%).

LanzaTech Global, Inc. is a sustainable biotechnology company that develops proprietary carbon recycling technology to convert waste carbon emissions from industrial facilities, manufacturing sites and other sources into low-carbon fuels, chemicals and commercial materials. It operates globally across industrial, energy and consumer goods sectors, partnering with enterprises to reduce carbon footprints and advance circular economy goals.

Redwood Trust Inc is a specialized U.S.-headquartered real estate investment trust (REIT). It manages investment portfolios covering residential and commercial mortgage loans, mortgage-backed securities, and real estate credit assets. Its core segments include residential mortgage lending, commercial real estate credit, and investment management, serving institutional investors and real estate market stakeholders.

LNZA vs RWT — Head-to-Head

Bigger by revenue
LNZA
LNZA
1.1× larger
LNZA
$28.0M
$25.9M
RWT
Growing faster (revenue YoY)
LNZA
LNZA
+138.8% gap
LNZA
132.7%
-6.1%
RWT
Higher net margin
RWT
RWT
77.5% more per $
RWT
77.2%
-0.3%
LNZA
Faster 2-yr revenue CAGR
LNZA
LNZA
Annualised
LNZA
65.3%
-41.0%
RWT

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
LNZA
LNZA
RWT
RWT
Revenue
$28.0M
$25.9M
Net Profit
$-84.0K
$20.0M
Gross Margin
Operating Margin
-0.7%
Net Margin
-0.3%
77.2%
Revenue YoY
132.7%
-6.1%
Net Profit YoY
99.7%
402.6%
EPS (diluted)
$-23.01
$0.11

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.

Revenue
LNZA
LNZA
RWT
RWT
Q4 25
$28.0M
$25.9M
Q3 25
$9.3M
$15.0M
Q2 25
$9.1M
$13.8M
Q1 25
$9.5M
$27.9M
Q4 24
$12.0M
$27.6M
Q3 24
$9.9M
$25.5M
Q2 24
$17.4M
$67.4M
Q1 24
$10.2M
$74.5M
Net Profit
LNZA
LNZA
RWT
RWT
Q4 25
$-84.0K
$20.0M
Q3 25
$2.9M
$-7.7M
Q2 25
$-32.5M
$-98.5M
Q1 25
$-19.2M
$16.1M
Q4 24
$-27.0M
$-6.6M
Q3 24
$-57.4M
$14.8M
Q2 24
$-27.8M
$15.5M
Q1 24
$-25.5M
$30.3M
Operating Margin
LNZA
LNZA
RWT
RWT
Q4 25
-0.7%
Q3 25
-168.7%
-9.0%
Q2 25
-354.9%
-679.0%
Q1 25
-327.5%
80.2%
Q4 24
-224.6%
-1.3%
Q3 24
-331.5%
86.1%
Q2 24
-131.2%
30.3%
Q1 24
-255.3%
41.3%
Net Margin
LNZA
LNZA
RWT
RWT
Q4 25
-0.3%
77.2%
Q3 25
30.8%
-51.4%
Q2 25
-357.8%
-712.0%
Q1 25
-202.8%
57.8%
Q4 24
-224.4%
-24.0%
Q3 24
-577.6%
58.1%
Q2 24
-160.0%
23.0%
Q1 24
-249.0%
40.6%
EPS (diluted)
LNZA
LNZA
RWT
RWT
Q4 25
$-23.01
$0.11
Q3 25
$0.99
$-0.08
Q2 25
$-0.15
$-0.76
Q1 25
$-0.10
$0.10
Q4 24
$-40.40
$-0.08
Q3 24
$-29.04
$0.09
Q2 24
$-0.14
$0.10
Q1 24
$-0.13
$0.21

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
LNZA
LNZA
RWT
RWT
Cash + ST InvestmentsLiquidity on hand
$13.2M
$255.7M
Total DebtLower is stronger
Stockholders' EquityBook value
$-3.9M
$982.6M
Total Assets
$100.2M
$23.7B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
LNZA
LNZA
RWT
RWT
Q4 25
$13.2M
$255.7M
Q3 25
$19.6M
$226.3M
Q2 25
$37.4M
$302.0M
Q1 25
$13.8M
$259.9M
Q4 24
$43.5M
$245.2M
Q3 24
$58.7M
$253.7M
Q2 24
$62.2M
$275.6M
Q1 24
$56.7M
$275.4M
Total Debt
LNZA
LNZA
RWT
RWT
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
$1.7B
Stockholders' Equity
LNZA
LNZA
RWT
RWT
Q4 25
$-3.9M
$982.6M
Q3 25
$-5.0M
$999.0M
Q2 25
$-25.2M
$1.1B
Q1 25
$-1.2M
$1.2B
Q4 24
$13.4M
$1.2B
Q3 24
$13.6M
$1.2B
Q2 24
$67.5M
$1.2B
Q1 24
$91.8M
$1.2B
Total Assets
LNZA
LNZA
RWT
RWT
Q4 25
$100.2M
$23.7B
Q3 25
$99.3M
$22.6B
Q2 25
$116.3M
$21.3B
Q1 25
$125.8M
$19.9B
Q4 24
$174.7M
$18.3B
Q3 24
$216.2M
$18.4B
Q2 24
$211.9M
$16.5B
Q1 24
$214.5M
$15.1B
Debt / Equity
LNZA
LNZA
RWT
RWT
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
1.39×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
LNZA
LNZA
RWT
RWT
Operating Cash FlowLast quarter
$-6.2M
$-10.1B
Free Cash FlowOCF − Capex
$-6.4M
FCF MarginFCF / Revenue
-22.8%
Capex IntensityCapex / Revenue
0.8%
Cash ConversionOCF / Net Profit
-504.15×
TTM Free Cash FlowTrailing 4 quarters
$-66.1M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
LNZA
LNZA
RWT
RWT
Q4 25
$-6.2M
$-10.1B
Q3 25
$-15.9M
$-2.7B
Q2 25
$-21.7M
$-2.1B
Q1 25
$-21.1M
$-2.0B
Q4 24
$-19.7M
$-5.9B
Q3 24
$-26.4M
$-2.1B
Q2 24
$-14.7M
$-2.0B
Q1 24
$-28.3M
$-954.2M
Free Cash Flow
LNZA
LNZA
RWT
RWT
Q4 25
$-6.4M
Q3 25
$-16.0M
Q2 25
$-21.9M
Q1 25
$-21.8M
Q4 24
$-21.4M
Q3 24
$-26.7M
Q2 24
$-16.4M
Q1 24
$-29.8M
FCF Margin
LNZA
LNZA
RWT
RWT
Q4 25
-22.8%
Q3 25
-172.9%
Q2 25
-240.9%
Q1 25
-230.0%
Q4 24
-178.1%
Q3 24
-268.8%
Q2 24
-94.6%
Q1 24
-290.6%
Capex Intensity
LNZA
LNZA
RWT
RWT
Q4 25
0.8%
Q3 25
1.8%
Q2 25
1.8%
Q1 25
7.5%
Q4 24
14.6%
Q3 24
2.9%
Q2 24
10.3%
Q1 24
14.4%
Cash Conversion
LNZA
LNZA
RWT
RWT
Q4 25
-504.15×
Q3 25
-5.55×
Q2 25
Q1 25
-120.92×
Q4 24
Q3 24
-140.86×
Q2 24
-126.56×
Q1 24
-31.53×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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