Financial Statements — GEVO
Balance Sheet
(in millions USD)| Metric | Q1 2026 | Q3 2025 | Q2 2025 | Q1 2025 | Q3 2024 | Q2 2024 | Q1 2024 | Q3 2023 | Q2 2023 | Q1 2023 | Q3 2022 | Q2 2022 | Q1 2022 | Q3 2021 | Q2 2021 | Q1 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | 78.90 | 72.60 | 57.26 | 65.29 | 223.23 | 245.68 | 270.64 | 323.51 | 347.65 | 342.28 | 200.56 | 172.98 | 44.63 | 16.20 | 17.09 | 525.32 |
| Short-term Investments | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 222.01 | 297.63 | 265.81 | 285.24 | 246.89 | -- |
| Accounts Receivable | 9.74 | 7.74 | 11.03 | 11.75 | 1.41 | 2.28 | 2.49 | 2.24 | 1.01 | 0.86 | 0.35 | 0.19 | 0.17 | 0.51 | 0.85 | 0.09 |
| Inventory | 21.59 | 21.91 | 16.94 | 16.79 | 5.85 | 3.45 | 3.76 | 3.69 | 4.39 | 4.36 | 4.14 | 2.65 | 2.74 | 2.34 | 2.22 | 2.45 |
| Total Current Assets | 115.87 | 136.71 | 170.44 | 103.86 | 236.63 | 258.11 | 282.30 | 411.23 | 428.69 | 386.41 | 431.72 | 484.62 | 335.42 | 361.34 | 329.18 | 533.52 |
| Property, Plant & Equipment | 358.17 | 343.34 | 344.91 | 339.07 | 219.80 | 233.33 | 227.67 | 238.12 | 198.76 | 183.86 | 166.00 | 176.05 | 156.90 | 102.16 | 79.24 | 70.70 |
| Goodwill | 43.56 | 43.56 | 43.56 | 41.61 | 3.74 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Intangible Assets | 38.99 | 45.55 | 48.83 | 52.11 | 8.55 | 5.94 | 6.23 | 6.82 | 7.11 | 7.40 | 8.00 | 8.36 | 8.66 | 9.10 | -- | -- |
| Total Non-current Assets* | 537.64 | 548.50 | 531.68 | 573.95 | 367.16 | 359.81 | 351.27 | 258.29 | 245.87 | 302.29 | 297.69 | 289.99 | 303.24 | 314.02 | 356.50 | 75.20 |
| Total Assets | 653.50 | 685.21 | 702.12 | 677.80 | 603.79 | 617.91 | 633.57 | 669.52 | 674.56 | 688.69 | 729.41 | 774.61 | 638.66 | 675.36 | 685.67 | 608.73 |
| Accounts Payable | 25.94 | 40.05 | 43.45 | 28.77 | 26.40 | 23.30 | 21.56 | 27.90 | 21.37 | 24.93 | 14.92 | 18.75 | 13.41 | 24.58 | 16.39 | 9.71 |
| Total Current Liabilities | 26.89 | 71.66 | 73.23 | 51.00 | 28.67 | 25.25 | 22.06 | 96.36 | 89.58 | 25.56 | 17.63 | 25.62 | 17.94 | 27.47 | 21.46 | 10.73 |
| Long-term Debt | 166.75 | 164.47 | 167.49 | 167.02 | 66.96 | 66.78 | 68.27 | 67.97 | 67.83 | 67.69 | 67.40 | 67.25 | 67.04 | 66.83 | 66.69 | 0.21 |
| Total Non-current Liabilities* | 171.91 | 138.72 | 149.12 | 152.01 | 70.40 | 69.92 | 69.56 | 1.63 | 1.87 | 69.67 | 86.84 | 85.22 | 86.28 | 88.08 | 88.10 | 2.31 |
| Total Liabilities | 198.80 | 210.38 | 222.35 | 203.01 | 99.07 | 95.17 | 91.63 | 97.99 | 91.46 | 95.23 | 104.47 | 110.84 | 104.23 | 115.56 | 109.55 | 13.04 |
| Retained Earnings | (855.62) | (827.81) | (819.94) | (821.96) | (782.63) | (761.47) | (740.47) | (703.12) | (687.42) | (673.00) | (629.99) | (586.21) | (573.05) | (540.86) | (526.48) | (508.23) |
| Total Stockholder Equity | 447.75 | 468.87 | 474.10 | 469.84 | 504.72 | 522.74 | 541.95 | 571.53 | 583.10 | 593.46 | 624.94 | 663.77 | 534.43 | 559.80 | 576.12 | 595.69 |
* Derived from reported values
Income Statement
(in millions USD) (except per-share rows)| Metric | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | 42.95 | 45.35 | 42.71 | 43.41 | 29.11 | 5.70 | 1.97 | 5.26 | 3.99 | 4.37 | 4.53 | 4.24 | 4.06 | 0.55 | 0.31 | 0.09 | 0.23 | 0.05 | 0.12 | 0.35 |
| Cost of Revenue* | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 3.90 | 3.73 | 4.18 | 3.90 | 3.48 | 2.79 |
| Gross Profit | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | (3.59) | (3.64) | (3.95) | (3.84) | (3.34) | (2.37) |
| Research & Development | 1.50 | 1.29 | 1.27 | 0.93 | 1.05 | 1.27 | 1.11 | 1.64 | 1.55 | 1.92 | 1.56 | 1.96 | 1.20 | 2.71 | 1.56 | 1.97 | 1.19 | 2.45 | 1.54 | 1.40 |
| Selling, General & Admin | 16.22 | 17.69 | 11.65 | 10.78 | 11.08 | 10.46 | 11.68 | 11.51 | 12.15 | 10.74 | 10.52 | 10.61 | 10.76 | 10.74 | 11.14 | 9.21 | 9.37 | 7.47 | 9.34 | 4.82 |
| Total Operating Expenses | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 40.08 | 12.48 | 12.01 | 12.64 | 11.37 | 16.65 |
| Operating Income | (4.90) | (2.18) | (3.69) | 5.80 | (20.14) | (19.65) | (24.01) | (24.03) | (23.14) | (21.34) | (20.73) | (18.91) | (20.86) | (26.95) | (43.67) | (16.11) | (15.95) | (16.48) | (14.71) | (19.02) |
| Interest Expense | -- | -- | -- | -- | -- | -- | -- | -- | 0.54 | 0.55 | 0.54 | 0.54 | 0.54 | 0.45 | 0.71 | 0.00 | 0.00 | (1.25) | 0.80 | -- |
| Pretax Income* | (21.70) | -- | (7.95) | 2.14 | (21.73) | -- | (21.16) | (21.00) | (18.87) | -- | (15.70) | -- | -- | -- | -- | -- | -- | -- | (14.38) | (18.25) |
| Tax Provision | 0.00 | -- | 0.00 | 0.00 | 0.00 | -- | 0.00 | 0.00 | 0.00 | -- | 0.00 | -- | -- | -- | -- | -- | -- | -- | 0.00 | 0.00 |
| Net Income | (21.70) | (6.30) | (7.95) | 2.14 | (21.73) | (17.61) | (21.16) | (21.00) | (18.87) | (18.48) | (15.70) | (14.42) | (17.62) | (25.39) | (43.79) | (13.16) | (15.67) | (16.51) | (14.38) | (18.25) |
| Basic EPS | (0.09) | (0.03) | (0.03) | 0.01 | (0.09) | (0.08) | (0.09) | (0.09) | (0.08) | (0.08) | (0.07) | (0.06) | (0.07) | (0.11) | (0.19) | (0.06) | (0.08) | -- | -- | -- |
| Diluted EPS | (0.09) | (0.03) | (0.03) | 0.01 | (0.09) | (0.08) | (0.09) | (0.09) | (0.08) | (0.08) | (0.07) | (0.06) | (0.07) | (0.11) | (0.19) | (0.06) | (0.08) | -- | -- | -- |
* Derived from reported values
Cash Flow Statement
(in millions USD)| Metric | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | (21.14) | 19.95 | (6.79) | (2.52) | (24.05) | (18.84) | (11.02) | (11.44) | (16.08) | (32.59) | 8.25 | (9.93) | (19.45) | (15.84) | (19.66) | (4.65) | (12.46) | (14.84) | (9.22) | (12.30) |
| Capital Expenditures | 8.88 | 11.21 | 7.83 | 5.24 | 5.83 | 14.63 | 9.75 | 9.20 | 17.51 | (6.96) | 32.28 | 17.70 | 11.43 | 7.24 | 22.37 | 14.95 | 31.22 | 41.82 | 33.12 | 14.42 |
| Free Cash Flow* | (30.01) | 8.75 | (14.62) | (7.76) | (29.88) | (33.47) | (20.77) | (20.64) | (33.59) | (25.63) | (24.02) | (27.64) | (30.88) | (23.08) | (42.03) | (19.60) | (43.68) | (56.66) | (42.34) | (26.72) |
| Investing Cash Flow | (9.12) | (9.21) | (7.83) | (5.24) | (204.29) | (14.63) | (10.48) | (9.20) | (17.51) | 6.96 | (32.35) | 15.34 | 124.18 | 48.52 | 53.22 | (16.21) | 7.86 | 16.36 | 8.54 | (431.90) |
| Financing Cash Flow | (7.77) | (2.18) | (3.91) | (0.27) | 104.24 | (0.37) | (0.94) | (4.60) | (1.45) | (0.04) | (0.05) | (0.04) | (0.06) | 4.26 | (4.27) | 138.92 | (0.35) | (1.66) | (8.34) | 64.07 |
* Derived from reported values