GEVO

MKT CAP:$435M

Gevo, Inc.

Market Cap

$435M

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

Materials·Chemicals·🇺🇸·NASDAQ

Stock Price

$1.70-$0.36 (-17.48%)

Apr 17, 2026

Company Details

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 fuel to achieve zero carbon emissions, an...

CEO

Patrick R. Gruber

IPO Date

Feb 9, 2011

Website

gevo.com

Key Metrics TTM

Revenue

$161M

+849.3% YoY

Net Income

-$34M

EPS (Diluted)

-$0.14

Free Cash Flow

-$43M

Revenue / Share

$0.69

Gross Margin

30.2%

Operating Margin

-14.5%

Net Margin

-20.9%

FCF Margin

-27.0%

P/S

2.7x

P/E

—

Earnings Reports

Q1 2026

May 12, 2026

PENDING

Q4 2025

Mar 5, 2026

$45M+695.6%EPS -$0.03

Q3 2025

Nov 10, 2025

$43M+2073.5%EPS -$0.03

Q2 2025

Aug 11, 2025

$43M+725.3%EPS $0.01

Q1 2025

May 13, 2025

$29M+629.5%EPS -$0.09

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$232.0K	-$4M	-$16M
Q2 22	$89.0K	-$4M	-$16M
Q3 22	$309.0K	-$5M	-$44M
Q4 22	$545.0K	-$9M	-$27M
Q1 23	$4M	-$365.0K	-$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	-$579.0K	-$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	-$5M

Valuation

Quarter	P/S	P/E
Q1 22	578.1x	—
Q2 22	878.3x	—
Q3 22	635.6x	—
Q4 22	370.0x	—
Q1 23	86.9x	—
Q2 23	47.5x	—
Q3 23	32.5x	—
Q4 23	25.3x	—
Q1 24	25.4x	—
Q2 24	24.0x	—
Q3 24	27.9x	—
Q4 24	25.7x	—
Q1 25	10.3x	—
Q2 25	5.4x	—
Q3 25	3.6x	—
Q4 25	2.7x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$12M	-$44M
Q2 22	-$5M	-$20M
Q3 22	-$16M	-$46M
Q4 22	-$12M	-$19M
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

Quarter	CapEx
Q1 22	$31M
Q2 22	$15M
Q3 22	$31M
Q4 22	$7M
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

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+149.5%	+62.3%
Q2 22	-74.3%	-16.7%
Q3 22	+157.5%	+197.8%
Q4 22	+909.3%	+64.7%
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%	+100.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$0	0.0%
Q2 22	$4M	4142.7%
Q3 22	$5M	1514.2%
Q4 22	$5M	964.0%
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 22	$1M	$9M	—
Q2 22	$2M	$9M	$515.0K
Q3 22	$2M	$11M	—
Q4 22	$3M	$11M	—
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	$934.0K	$11M	—
Q3 25	$1M	$12M	—
Q4 25	$1M	$18M	—

Revenue Segments

Quarter	Ethanol Sales and Related Products	Hydrocarbon
Q1 22	$169.0K	$63.0K
Q2 22	$71.0K	$18.0K

Revenue by Geography

Quarter

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$45M	$266M	$310M
Q2 22	$173M	$298M	$471M
Q3 22	$201M	$222M	$423M
Q4 22	$237M	$167M	$405M
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	YoY Change
Q1 22	202M	+0.0%	+10.0%
Q2 22	210M	+3.9%	+5.9%
Q3 22	237M	+12.8%	+18.7%
Q4 22	237M	+0.2%	+17.5%
Q1 23	237M	+0.0%	+17.5%
Q2 23	237M	+0.1%	+13.2%
Q3 23	240M	+0.9%	+1.2%
Q4 23	240M	+0.4%	+1.4%
Q1 24	241M	+0.1%	+1.5%
Q2 24	239M	-0.8%	+0.7%
Q3 24	239M	+0.2%	-0.0%
Q4 24	239M	-0.1%	-0.6%
Q1 25	232M	-3.0%	-3.7%
Q2 25	237M	+2.1%	-0.9%
Q3 25	233M	-1.8%	-2.8%
Q4 25	234M	+0.6%	-2.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$2.3K	99
Q2 22	$899	99
Q3 22	$3.1K	99
Q4 22	$6.1K	89
Q1 23	$45.6K	89
Q2 23	$47.6K	89
Q3 23	$50.9K	89
Q4 23	$42.5K	103
Q1 24	$38.7K	103
Q2 24	$51.1K	103
Q3 24	$19.1K	103
Q4 24	$46.7K	122
Q1 25	$238.6K	122
Q2 25	$355.8K	122
Q3 25	$350.1K	122
Q4 25	$300.3K	151

Revenue / Employee