Gevo, Inc. GEVO
Gevo, Inc. (Nasdaq: GEVO), a Delaware corporation founded in 2005, is a growth-oriented company that focuses on hard to decarbonize market sectors such as jet fuel, certain specialty fuels, on-road fuels, chemicals and materials, and certain products for the food chain such as protein and feeds made as co-products from our processes. Each of the market areas that Gevo focuses on has the common need for carbon-based products and is not conducive to full electrification or hydrogen. We produce and sell competitively priced, renewable, drop-in products for these sectors, and generate carbon abatement value through our plant design and business systems.
In addition to generating value from physical products such as fuels, chemicals, protein, feed and oil, our business model is designed to generate carbon abatement value through our production processes, plant design, and operating systems. This carbon abatement value may be monetized through mechanisms such as direct sales of certified carbon credits, Renewable Identification Numbers ("RINs"), state-level clean fuel credits, federal tax credits enacted under the Inflation Reduction Act ("IRA"), Canada's Clean Fuel Regulations ("CFR"), state level clean fuel regulations, and, in certain cases, through the value attributed to reduced Scope 3 greenhouse gas ("GHG") emissions by end customers, particularly related to fuel products. Gevo owns certain operating assets that generate cash flow and expects growth by developing markets, pursuing project development, investing in capital assets, and licensing certain technologies.
Valuation FY2025 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by segment
- GevoND
- GevoRNG
- Gevo
| Segment | FY2025 |
|---|---|
| GevoND | $136.8M |
| GevoRNG | $18.0M |
| Gevo | $5.8M |
As the company reported it, from the “Segments - Segment Reporting Information (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $160.6M | $16.9M | $17.2M | $1.2M | $533.0K | $5.5M | $24.5M | $32.9M | $27.3M | $26.5M |
| Cost of revenue | — | — | — | — | — | $15.0M | $36.7M | $41.6M | $38.2M | $37.0M |
| Gross profit | — | — | — | — | -$11.5M | -$9.5M | -$12.2M | -$8.7M | -$10.6M | -$9.8M |
| R&D | $4.5M | $5.6M | $6.6M | $7.4M | $6.8M | $3.5M | $3.9M | $5.4M | $5.2M | $5.2M |
| SG&A | $51.2M | $45.8M | $42.6M | $39.9M | $25.5M | $11.2M | $9.8M | $8.1M | $7.5M | $9.0M |
| Total operating expenses | $180.8M | $107.7M | $99.0M | $103.9M | $60.8M | $17.5M | $14.1M | $13.5M | $12.7M | $14.2M |
| Operating income | -$20.2M | -$90.8M | -$81.8M | -$102.7M | -$60.3M | -$27.0M | -$26.4M | -$22.2M | -$23.3M | -$24.0M |
| Interest expense | $17.6M | $3.9M | $2.2M | $1.2M | $251.0K | $2.1M | $2.7M | — | $3.0M | $7.8M |
| Pre-tax income | — | — | — | — | — | -$40.2M | -$28.7M | -$28.0M | — | — |
| Income tax | — | — | — | — | — | $0 | $0 | $0 | — | — |
| Net income | -$33.8M | -$78.6M | -$66.2M | -$98.0M | -$59.2M | -$40.2M | -$28.7M | -$28.0M | -$24.6M | -$37.2M |
| EPS, basic | -0.14 | -0.34 | -0.28 | -0.44 | -0.30 | — | — | — | — | — |
| EPS, diluted | -0.14 | -0.34 | -0.28 | -0.44 | -0.30 | -0.71 | -2.35 | -5.74 | -30.23 | -193.52 |
| Shares, diluted (wtd. avg.) | 234.0M | 231.7M | 238.7M | 221.5M | 195.8M | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $81.2M | $189.4M | $375.6M | $315.4M | $136.0M | $78.3M | $16.3M | $33.7M | $11.6M | $27.9M |
| Short-term investments | — | — | — | $167.4M | $275.3M | $0 | — | — | — | — |
| Receivables | $8.4M | $2.4M | $2.6M | $476.0K | $978.0K | $527.0K | $1.1M | $526.0K | $1.1M | $1.1M |
| Inventory | $19.1M | $4.5M | $3.8M | $6.3M | $2.8M | $2.5M | $3.2M | $3.2M | $4.4M | $3.5M |
| Total current assets | $143.4M | $203.7M | $386.4M | $415.4M | $348.5M | $83.3M | $24.2M | $38.7M | $17.7M | $33.3M |
| Property, plant and equipment | $353.6M | $221.6M | $211.6M | $185.2M | $137.7M | $66.4M | $66.7M | $67.5M | $70.4M | $75.6M |
| Goodwill | $43.6M | $3.7M | — | — | — | — | — | — | — | — |
| Other intangibles | $95.0M | $8.1M | $6.5M | $7.7M | $8.9M | $114.0K | — | — | — | — |
| Total assets | $718.9M | $583.9M | $650.3M | $700.7M | $645.4M | $152.1M | $93.4M | $107.0M | $88.9M | $112.3M |
| Accounts payable | $1.1M | $539.0K | $2.7M | $5.0M | $4.8M | $3.9M | $5.7M | $4.9M | $4.0M | $6.2M |
| Short-term debt | — | $21.0K | $68.1M | $159.0K | $158.0K | $807.0K | — | — | — | — |
| Total current liabilities | $78.6M | $24.4M | $91.4M | $25.4M | $29.1M | $4.9M | $20.1M | $5.3M | $11.2M | $34.7M |
| Long-term debt | $164.8M | $67.1M | $21.0K | $67.4M | $66.8M | $447.0K | $749.0K | — | — | $35.7M |
| Total liabilities | $247.8M | $94.5M | $92.9M | $95.3M | $98.1M | $5.7M | $20.9M | $18.2M | $25.3M | $43.1M |
| Retained earnings | -$834.2M | -$800.2M | -$721.6M | -$655.4M | -$557.4M | -$498.2M | -$458.0M | -$429.3M | -$401.4M | -$376.7M |
| Total equity | $466.3M | $489.5M | $557.4M | $605.5M | $547.3M | $146.4M | $72.5M | $88.8M | $63.5M | $69.3M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$13.4M | -$57.4M | -$53.7M | -$44.3M | -$48.3M | -$19.3M | -$20.8M | -$15.9M | -$20.6M | -$20.5M |
| Depreciation and amortisation | $25.3M | $18.3M | $19.0M | $7.9M | $5.1M | $5.9M | $6.7M | $6.5M | — | — |
| Stock-based compensation | $9.2M | $14.7M | $17.1M | $17.4M | $9.9M | $2.1M | $1.3M | $683.0K | $421.0K | $886.0K |
| Capital expenditure | $30.1M | $51.1M | $54.5M | $84.1M | $56.8M | $6.2M | $6.5M | $2.2M | $1.9M | $5.9M |
| Investing cash flow | -$226.6M | -$51.8M | $114.1M | $85.1M | -$411.4M | -$5.9M | -$7.5M | -$2.2M | -$1.9M | -$5.9M |
| Financing cash flow | $97.9M | -$7.4M | -$189.0K | $138.6M | $517.3M | $87.3M | $10.9M | $40.3M | $3.6M | $37.3M |
| Buybacks | — | $4.7M | — | — | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-041262.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $26.5M | $27.3M | $32.9M | $24.5M | $5.5M | $533.0K | $1.2M | $17.2M | $16.9M | $160.6M |
| Gross profit | -$9.8M | -$10.6M | -$8.7M | -$12.2M | -$9.5M | -$11.5M | — | — | — | — |
| Net income | -$37.2M | -$24.6M | -$28.0M | -$28.7M | -$40.2M | -$59.2M | -$98.0M | -$66.2M | -$78.6M | -$33.8M |
Recent filings and events
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Item 5.02
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Officer or director change Item 5.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Officer or director change Item 5.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 2860
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| IFF | INTERNATIONAL FLAVORS & FRAGRANCES INC | $24.02B | — | -5.2% |
| LYB | LyondellBasell Industries N.V. | $21.47B | — | -9.7% |
| WLK | WESTLAKE CORP | $8.25B | — | -8.0% |
| NEU | NEWMARKET CORP | $8.01B | 19.6x | -2.2% |
| SXT | SENSIENT TECHNOLOGIES CORP | $5.65B | 42.0x | 3.5% |
| REX | REX AMERICAN RESOURCES Corp | $1.32B | 15.9x | 1.2% |
| GPRE | Green Plains Inc. | $979.9M | — | 16.0% |
| WLKP | Westlake Chemical Partners LP | $745.5M | — | 2.7% |