VGAS

MKT CAP:$76M

Verde Clean Fuels, Inc.

Market Cap

$76M

Utilities·Renewable Utilities·🇺🇸 United States·NASDAQ

Utilities·Renewable·🇺🇸·NASDAQ

Stock Price

$1.96-$0.03 (-1.51%)

Apr 17, 2026

Company Details

Verde Clean Fuels, Inc. focuses on suppling gasoline and other fuels derived from renewable feedstocks or natural gas. It specializes in the conversion of synthesis gas, or syngas, derived from feedstocks, such as biomass, municipal solid w...

CEO

George Wrigley Burdette

IPO Date

Oct 4, 2021

Website

www.verdecleanfuels.com

Key Metrics TTM

Revenue

$0

— YoY

Net Income

$2M

EPS (Diluted)

$0.18

Free Cash Flow

-$8M

Revenue / Share

$0.00

Gross Margin

—

Operating Margin

—

Net Margin

—

FCF Margin

—

P/S

—

P/E

45.5x

Earnings Reports

FY 2025

Mar 27, 2026

$0EPS -$0.79

Q3 2025

Nov 14, 2025

$0EPS -$0.06

Q4 2023

Dec 30, 2023

$0EPS -$0.11

FY 2022

Dec 31, 2022

$0EPS $0.35

Q4 2022

Dec 30, 2022

$0EPS -$0.11

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 20	$0	$0	-$1.1K
Q3 20	$0	$0	-$2.0K
Q1 21	$0	$0	-$1M
Q3 21	$0	$0	-$68.3K
Q4 21	$0	$0	-$383.1K
Q1 22	$0	$0	-$1M
Q2 22	$0	-$2.6K	-$1M
Q3 22	$0	-$64.9K	-$940.3K
Q4 22	$0	-$60.2K	-$1M
Q4 23	$0	-$198.3K	-$2M
Q3 25	$0	-$92.6K	-$3M

Valuation

Quarter	P/S	P/E
Q2 20	—	—
Q3 20	—	—
Q1 21	—	—
Q3 21	—	—
Q4 21	—	—
Q1 22	—	—
Q2 22	—	—
Q3 22	—	68.6x
Q4 22	—	25.7x
Q4 23	—	4.1x
Q3 25	—	35.2x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 20	-$279.6K	-$279.6K
Q1 21	-$619.0K	-$619.0K
Q3 21	-$412.1K	-$412.1K
Q4 21	-$84.1K	-$84.1K
Q1 22	-$775.9K	-$775.9K
Q2 22	-$855.3K	-$855.3K
Q3 22	-$685.4K	-$689.8K
Q4 22	-$967.4K	-$967.4K
Q4 23	-$2M	-$2M
Q3 25	-$2M	-$4M

Capital Expenditures

Quarter	CapEx
Q3 20	$0
Q1 21	$0
Q3 21	$3
Q4 21	$1
Q1 22	$0
Q2 22	$0
Q3 22	$4.4K
Q4 22	$0
Q4 23	$55.9K
Q3 25	$2M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 21	—	+34984.2%
Q1 22	—	+71594.0%
Q2 22	—	+21.5%
Q3 22	—	+1276.8%
Q4 22	—	+226.5%
Q4 23	—	+65.8%
Q3 25	—	+137.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 20	$0	—
Q1 21	$327.5K	—
Q3 21	$0	—
Q4 21	$0	—
Q1 22	$602.5K	—
Q2 22	$376.0K	—
Q3 22	$0	—
Q4 22	$338.9K	—
Q4 23	$277.6K	—
Q3 25	$0	—

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q2 20	—	—	$1.1K
Q3 20	—	—	$2.0K
Q1 21	$147.7K	$852.8K	—
Q3 21	—	—	$68.3K
Q4 21	—	—	$383.1K
Q1 22	$97.2K	$1M	—
Q2 22	$72.6K	—	$1M
Q3 22	$72.5K	—	$802.8K
Q4 22	$74.4K	—	$1M
Q4 23	$82.4K	$2M	—
Q3 25	$128.0K	$3M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$558.7K	$0	$558.7K
Q2 22	$908.0K	$0	$908.0K
Q3 22	$1M	$0	$1M
Q4 22	$463.5K	$0	$463.5K
Q1 23	$35M	$0	$35M
Q2 23	$33M	$0	$33M
Q3 23	$31M	$0	$31M
Q4 23	$29M	$0	$29M
Q1 24	$26M	$0	$26M
Q2 24	$23M	$0	$23M
Q3 24	$22M	$0	$22M
Q4 24	$19M	$0	$19M
Q1 25	$65M	$0	$65M
Q2 25	$62M	$0	$62M
Q3 25	$59M	$0	$59M
Q4 25	$57M	$0	$57M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 20	12M	—	—
Q3 20	12M	0.0%	—
Q1 21	9M	-23.9%	—
Q3 21	9M	0.0%	—
Q4 21	9M	0.0%	-23.9%
Q1 22	9M	0.0%	-23.9%
Q2 22	9M	0.0%	0.0%
Q3 22	9M	0.0%	0.0%
Q4 22	8M	-17.3%	-17.3%
Q4 23	6M	-20.5%	-34.2%
Q3 25	19M	+205.9%	+101.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 20	—	—
Q3 20	—	—
Q1 21	—	—
Q3 21	—	—
Q4 21	—	—
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q4 22	—	—
Q4 23	—	—
Q3 25	$0	10

Revenue / Employee