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VGAS

Verde Clean Fuels, Inc.

VGAS

Verde Clean Fuels, Inc. • NASDAQ
$2.62 ▲ 2.34% (+0.06)
Market Cap $116.72 M
52w High $4.39
52w Low $2.50
Dividend Yield 0%
P/E -7.49
Volume 2.26K
Outstanding Shares 44.55M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $2.787M ▼ $-1.155M ▲ 0% $-0.12 ▼ $-2.137M ▲
Q2-2025 $0 $3.149M ▲ $-1.26M ▼ 0% $-0.067 ▲ $-2.483M ▲
Q1-2025 $0 $3.091M ▲ $-1.247M ▼ 0% $-0.18 ▼ $-2.561M ▼
Q4-2024 $0 $2.75M ▲ $-880.546K ▼ 0% $-0.14 ▼ $-2.511M ▼
Q3-2024 $0 $2.701M $-777.732K 0% $-0.12 $-2.41M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $59.44M ▼ $67.181M ▼ $3.136M ▲ $32.514M ▼
Q2-2025 $62.055M ▼ $68.727M ▼ $2.979M ▼ $33.038M ▼
Q1-2025 $65.28M ▲ $71.289M ▲ $3.546M ▲ $33.747M ▲
Q4-2024 $19.044M ▼ $23.572M ▼ $2.889M ▼ $10.249M ▲
Q3-2024 $21.673M $25.908M $3.615M $10.078M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-1.155M ▲ $-1.68M ▲ $-935.073K ▼ $-108 ▲ $-2.615M ▲ $-4.118M ▼
Q2-2025 $-2.546M ▲ $-2.182M ▲ $-539.981K ▼ $-503.892K ▼ $-3.226M ▼ $-3.728M ▲
Q1-2025 $-2.704M ▼ $-3.702M ▼ $-11.946K ▲ $49.95M ▲ $46.236M ▲ $-4.175M ▼
Q4-2024 $-2.661M ▼ $-2.225M ▼ $-404.162K ▼ $0 $-2.629M ▼ $-3.329M ▼
Q3-2024 $-2.493M $-1.638M $101.536K $0 $-1.537M $-2.531M

Five-Year Company Overview

Income Statement

Income Statement Verde Clean Fuels is still a pre‑revenue company. Over the past several years it has not generated meaningful sales and has been running at small operating losses as it develops its technology and projects. The swings in reported profit or loss from year to year mostly reflect accounting and SPAC-related effects rather than an underlying operating business. In practical terms, the income statement says this is still a development-stage platform, with the economic model not yet proven at commercial scale.

Balance Sheet

Balance Sheet The balance sheet is very small and simple: a modest cash balance, almost no other assets, and no financial debt. Equity only recently moved into positive territory after having been negative, which reflects past losses and the early-stage nature of the company. The lack of debt lowers financial strain today, but the limited asset base also means there is not a large cushion to fund growth internally. Any move to build full-scale plants will almost certainly require outside capital, partnerships, or project-level financing well beyond what is on the balance sheet now.

Cash Flow

Cash Flow Cash flow is negative from operations, which is what you would expect from a company investing in development without yet producing revenue. Free cash flow is also negative, but so far there has been very little spending on large physical assets, suggesting they are still in the design, engineering, and commercialization planning stages rather than heavy construction. The current cash burn is modest in absolute terms, but relative to the small cash balance it matters and underscores the need for staged funding as projects progress. Future cash demands are likely to rise sharply if and when the first commercial plants move ahead.

Competitive Edge

Competitive Edge The company’s edge sits in its proprietary STG+ process, which can turn various feedstocks—natural gas, renewable gas, biomass, and waste—into gasoline that works in today’s engines and fuel infrastructure. That “drop‑in” feature is a major practical advantage versus many alternative fuels that require new vehicles or distribution networks. Patent protection and many years of demo-plant operation help create a technical moat, but the real test will be cost and reliability at full commercial scale. The partnership with Diamondback Energy is strategically important, giving Verde a strong anchor customer and feedstock partner, and a clear use case in reducing gas flaring, yet the company still faces competition from large industrial players and other synthetic fuel processes. Overall, it has a promising niche position, but it is early and must prove it can execute as well as it can innovate.

Innovation and R&D

Innovation and R&D Innovation is the core of Verde’s story. The STG+ technology has been developed and tested over many years, with meaningful demonstration run time, and is designed to be modular, scalable, and flexible in the feedstocks it can accept. The company is pushing into several advanced areas at once: low‑carbon and potentially carbon‑negative gasoline, integration of carbon capture and storage, and participation in projects around “green” methanol and e‑fuels. This shows a strong R&D culture and a willingness to work within consortia and partnerships to extend its technology into new markets. The flip side is classic technology risk: until these innovations run reliably at commercial scale and at competitive cost, there remains significant uncertainty around their ultimate economic value.

Summary

Verde Clean Fuels is essentially a technology and project‑development platform in the clean fuels space, not yet an operating utility or fuel producer. Financials reflect this: no real revenue so far, a very lean balance sheet, and ongoing cash burn, but also no debt and a focused spend on development. The strategic appeal lies in a potentially disruptive way to produce low‑carbon gasoline that fits today’s infrastructure, solve problems like natural gas flaring, and tap into future markets for carbon‑neutral or carbon‑negative fuels. Strong partnerships and patents support the story, while scale‑up risk, financing needs, execution challenges, and policy and competitive uncertainties remain key watchpoints. Outcomes could vary widely, so understanding project milestones, funding plans, and real‑world operating performance will be critical to tracking how this story evolves.

NEWS

November 13, 2025 · 4:17 PM UTC

Verde Clean Fuels, Inc. Reports Q3 2025 Results

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