Operator

Hello, and welcome to the Aemetis First Quarter 2026 Earnings Conference Call. Joining us today are Eric McAfee, Chairman and Chief Executive Officer; Todd Waltz, Chief Financial Officer; and Andy Foster, President of Aemetis Advanced Fuels.

I will now turn the call over to Todd Waltz.

Todd Waltz
Executive VP & CFO

Thank you, and welcome, everyone. Before we begin, I'd like to remind you that during the call, we'll make forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risk and uncertainty that could cause actual results to differ materially from those expressed or implied. Please refer to our earnings release and SEC filings for a discussion of these risks.

For the first quarter of 2026, revenue grew 27% to $54.6 million compared with $42.9 million in the first quarter of 2025. With growth across each of the three reportable operating segments. Gross profit was $2.8 million in the quarter, a year-over-year improvement of nearly $8 million from the gross loss of $5.1 million in the first quarter of 2025.

Operating loss improved approximately 60% to $6.3 million compared with $15.6 million in the prior period. Net loss improved to $21.7 million compared to $24.5 million in the first quarter of 2025. Production tax credits under Section 45Z contributed $4