GEVO (Gevo, Inc.) Stock Financials & Earnings

GEVOGevo, Inc.

Mkt Cap$534M

Basic Materials·Chemicals - Specialty·🇺🇸 United States·NASDAQ

Revenue (TTM)$161M

Net Income (TTM)-$34M

EPS (TTM)-$0.14

Free Cash Flow (TTM)-$43M

Gross Margin30.2%

Op. Margin-11.7%

Net Margin-20.9%

FCF Margin-27.0%

P/S Ratio (TTM)3.3x

P/E Ratio (TTM)—

YoY Rev Growth+849.3%

Employees—

Earnings Reports

▶Q4 2025NEW

Gevo, Inc. operates as a renewable fuels company. It operates through four segments: Gevo, Agri-Energy, Renewable Natural Gas, and Net-Zero. The company commercializes gasoline, jet fuel, and diesel f...

CEO Patrick R. GruberIPO Feb 9, 2011gevo.com

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$4M	-$365K	-$21M
Q2 23	$4M	$2M	-$19M
Q3 23	$5M	$2M	-$21M
Q4 23	$4M	$1M	-$21M
Q1 24	$4M	$1M	-$23M
Q2 24	$5M	$2M	-$24M
Q3 24	$2M	-$579K	-$24M
Q4 24	$6M	$2M	-$20M
Q1 25	$29M	$8M	-$20M
Q2 25	$43M	$26M	$6M
Q3 25	$43M	$13M	-$4M
Q4 25	$45M	$2M	-$922K

Valuation

Quarter	P/S	P/E
Q1 23	73.1x	—
Q2 23	40.6x	—
Q3 23	19.8x	—
Q4 23	15.7x	—
Q1 24	10.2x	—
Q2 24	7.6x	—
Q3 24	25.0x	—
Q4 24	30.7x	—
Q1 25	6.4x	—
Q2 25	3.8x	—
Q3 25	3.8x	—
Q4 25	2.8x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	-$9M	-$31M
Q2 23	-$9M	-$28M
Q3 23	-$3M	-$24M
Q4 23	-$33M	-$26M
Q1 24	-$16M	-$34M
Q2 24	-$11M	-$21M
Q3 24	-$11M	-$21M
Q4 24	-$19M	-$33M
Q1 25	-$24M	-$30M
Q2 25	-$3M	-$8M
Q3 25	-$7M	-$15M
Q4 25	$20M	$9M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$22M
Q2 23	$18M
Q3 23	$21M
Q4 23	$7M
Q1 24	$18M
Q2 24	$9M
Q3 24	$10M
Q4 24	$15M
Q1 25	$6M
Q2 25	$5M
Q3 25	$8M
Q4 25	$11M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+1650.0%	+53.9%
Q2 23	+4661.8%	+42.9%
Q3 23	+1365.4%	-42.9%
Q4 23	+702.6%	-5.6%
Q1 24	-1.7%	+8.9%
Q2 24	+24.1%	+26.5%
Q3 24	-56.6%	+2.8%
Q4 24	+30.3%	-1.4%
Q1 25	+629.5%	+81.5%
Q2 25	+725.3%	+28.4%
Q3 25	+2073.5%	+78.3%
Q4 25	+695.6%	+82.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$5M	115.2%
Q2 23	$4M	93.0%
Q3 23	$4M	91.3%
Q4 23	$4M	99.1%
Q1 24	$4M	106.1%
Q2 24	$4M	84.9%
Q3 24	$4M	192.7%
Q4 24	$2M	39.4%
Q1 25	$2M	6.5%
Q2 25	$0	0.0%
Q3 25	$2M	5.5%
Q4 25	$3M	6.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 23	$4M	$11M	—
Q2 23	$2M	$11M	$3M
Q3 23	$2M	$11M	—
Q4 23	$2M	$11M	—
Q1 24	$2M	$12M	—
Q2 24	$2M	$12M	—
Q3 24	$1M	$12M	—
Q4 24	—	$10M	—
Q1 25	$1M	$11M	—
Q2 25	$934K	$11M	—
Q3 25	$1M	$12M	—
Q4 25	$1M	$18M	—

Revenue Segments

Quarter

Revenue by Geography

Quarter

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$342M	$33M	$375M
Q2 23	$348M	$0	$348M
Q3 23	$324M	$0	$324M
Q4 23	$298M	$0	$298M
Q1 24	$271M	$0	$271M
Q2 24	$246M	$0	$246M
Q3 24	$223M	$0	$223M
Q4 24	$189M	$0	$189M
Q1 25	$65M	$0	$65M
Q2 25	$57M	$0	$57M
Q3 25	$73M	$0	$73M
Q4 25	$1M	$0	$1M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	237M	+0.0%
Q2 23	237M	+0.1%
Q3 23	240M	+0.9%
Q4 23	240M	+0.4%
Q1 24	241M	+0.1%
Q2 24	239M	-0.8%
Q3 24	239M	+0.2%
Q4 24	239M	-0.1%
Q1 25	232M	-3.0%
Q2 25	237M	+2.1%
Q3 25	233M	-1.8%
Q4 25	234M	+0.6%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$291K	97
FY 15	$488K	59
FY 16	$359K	74
FY 17	$535K	51
FY 18	$632K	52
FY 19	$429K	57
FY 20	$179K	31
FY 21	$5K	99
FY 22	$13K	89
FY 23	$167K	103
FY 24	$139K	122
FY 25	$1M	151