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GEVO

Gevo, Inc.

GEVO

Gevo, Inc. • NASDAQ
$2.14 ▲ 2.39% (+0.05)
Market Cap $518.54 M
52w High $2.98
52w Low $0.92
Dividend Yield 0%
P/E -10.19
Volume 894.37K
Outstanding Shares 242.31M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $42.71M ▼ $16.149M ▼ $-7.954M ▼ -18.623% ▼ $-0.03 ▼ $5.034M ▼
Q2-2025 $43.413M ▲ $20.352M ▼ $2.144M ▲ 4.939% ▲ $0.009 ▲ $14.287M ▲
Q1-2025 $29.109M ▲ $27.802M ▲ $-21.728M ▼ -74.644% ▲ $-0.094 ▼ $-12.857M ▼
Q4-2024 $5.7M ▲ $21.898M ▼ $-17.607M ▲ -308.895% ▲ $-0.074 ▲ $-10.414M ▲
Q3-2024 $1.965M $23.429M $-21.156M -1.077K% $-0.088 $-16.555M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $72.598M ▲ $685.207M ▼ $210.38M ▼ $468.871M ▼
Q2-2025 $57.257M ▼ $702.117M ▲ $222.349M ▲ $474.104M ▲
Q1-2025 $65.288M ▼ $677.8M ▲ $203.008M ▲ $469.837M ▼
Q4-2024 $189.389M ▼ $583.941M ▼ $94.453M ▼ $489.488M ▼
Q3-2024 $223.227M $603.79M $99.069M $504.721M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-7.954M ▼ $-6.786M ▼ $-7.83M ▼ $-3.911M ▼ $-18.527M ▼ $-14.616M ▼
Q2-2025 $2.144M ▲ $-2.522M ▲ $-5.243M ▲ $-266K ▼ $60.124M ▲ $-7.765M ▲
Q1-2025 $-21.773M ▼ $-24.048M ▼ $-204.295M ▼ $104.242M ▲ $-124.101M ▼ $-29.882M ▲
Q4-2024 $-17.607M ▲ $-18.843M ▼ $-14.626M ▼ $-369K ▲ $-33.838M ▼ $-33.469M ▼
Q3-2024 $-21.156M $-11.02M $-10.485M $-944K $-22.449M $-20.771M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Ethanol
Ethanol
 $0 ▲$20.00M ▲$30.00M ▲$30.00M ▲
Licensing And Development Revenue
Licensing And Development Revenue
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Gevo still looks much more like a development-stage technology platform than a mature operating company. Reported sales remain very small relative to the size of the cost base, so the business is not yet demonstrating scaled commercial revenue. Gross profit has hovered around breakeven or slightly negative, and operating losses have been steady and meaningful for several years. While there has been some gradual improvement in per‑share losses, the company is still firmly in the “investing and building” phase where research, engineering, and corporate expenses far outweigh incoming revenue. For now, the income statement shows a company betting on future projects and contracts rather than one already supported by operating profits.

Balance Sheet

Balance Sheet The balance sheet shows a company that has raised substantial capital to fund long-term projects and technology development. Cash once stood quite high and remains notable, though it has drifted downward as spending has continued. Total assets are largely funded by shareholder equity rather than heavy borrowing, so leverage is modest, which reduces financial strain from interest costs. Debt is present but not dominant. The repeated reverse stock splits in prior years highlight that shareholder dilution and capital structure management have been key tools for the company, and future funding for large projects may still lean on equity or partner financing. Overall, the balance sheet is relatively strong for a pre‑profit company, but it is gradually being drawn down to support growth plans.

Cash Flow

Cash Flow Gevo consistently uses cash rather than generating it. Cash outflows from day‑to‑day operations have been steady and negative, reflecting ongoing research, corporate costs, and early commercialization activities that are not yet covered by revenue. On top of that, capital spending on facilities and projects adds another layer of cash use, so total free cash flow has been notably more negative than operating cash flow alone. This pattern is typical for asset‑heavy, early‑stage industrial and clean‑tech businesses but underscores a key risk: the company depends on external funding and project financing to bridge the gap until its plants and contracts begin to produce reliable cash inflows.

Competitive Edge

Competitive Edge Gevo’s strategy is to compete on technology, carbon intensity, and traceability rather than on commodity fuel pricing alone. Its patented pathways for turning corn‑based ethanol into sustainable aviation fuel and other hydrocarbons, combined with a focus on “drop‑in” fuels that work in existing engines and infrastructure, give it a differentiated profile versus many biofuel peers. Long‑term supply agreements with major airlines and fuel buyers, mostly structured with strong off‑take commitments, add credibility and potential volume visibility, assuming projects are built as planned. Its focus on carbon monetization and a dedicated carbon tracking platform further separates it from traditional fuel producers. The flip side is that this is an emerging market with evolving policy support and rising competition, so execution, regulation, and technology cost curves will heavily influence how durable this competitive edge proves to be.

Innovation and R&D

Innovation and R&D Innovation is the heart of Gevo’s story. The company has built a broad portfolio of proprietary processes—ranging from alcohol‑to‑jet and ethanol‑to‑olefins technologies to integrated fermentation systems and co‑product streams like high‑protein animal feed. It is also pushing into digital and data‑driven tools with its Verity carbon tracking platform and agricultural data integrations, positioning itself as both a fuel producer and a carbon information provider. Large “Net‑Zero” projects are designed to showcase these technologies at scale, using carbon capture and other techniques to produce very low‑carbon fuels. The upside is considerable if these processes scale reliably and economically; the risk is that commercialization is capital intensive, technically complex, and sensitive to regulatory and policy support. Overall, R&D and project engineering remain central value drivers rather than side activities.

Summary

Gevo is an early‑stage, technology‑driven renewable fuels company that has assembled an impressive set of patents, partnerships, and long‑term off‑take agreements, especially in sustainable aviation fuel. Financially, it operates with minimal current revenue, persistent losses, and ongoing negative cash flow, funded primarily by equity capital and a relatively lightly leveraged balance sheet. The core opportunity lies in converting its pipeline of projects—particularly its Net‑Zero plants and ethanol‑to‑jet/olefins technologies—into operating facilities that can justify the heavy upfront spending. Key uncertainties include execution risk on large projects, future access to financing, regulatory stability around low‑carbon fuels and carbon credits, and competition from other biofuel and synthetic fuel technologies. In essence, Gevo represents a high‑innovation, high‑execution‑risk profile: the company is building substantial future potential, but its current financials still reflect the costs and challenges of getting there rather than the benefits of a mature business model.

NEWS

November 5, 2025 · 9:00 AM UTC

Gevo North Dakota Sells Its Remaining 2025 45Z Production Tax Credits for $30 Million, Bringing the Contracted Total for the Year to $52 Million

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October 20, 2025 · 4:56 PM UTC

Gevo to Report Third Quarter 2025 Financial Results on November 10, 2025

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September 24, 2025 · 9:00 AM UTC

Gevo to Present at the MicroCap Rodeo Conference

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September 22, 2025 · 9:00 AM UTC

Frontier Infrastructure, in Collaboration with Gevo and Verity, Launches Complete Carbon Management Platform for Ethanol Industry

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September 18, 2025 · 4:03 PM UTC

Gevo Executes Deal with Biorecro to Accelerate Multi-Year Carbon Credit Offtake and Business Expansion

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