Gevo (GEVO) financial statements
Gevo reported revenue of $161M in fiscal 2025, up 22.1% a year over 9 years.
Net income was -$34M and the operating margin -12.6%, against -90.4% in 2016.
Free cash flow was -$44M.
The diluted share count rose 121544% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Gevo's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $27M | $27M | $33M | $24M | $5M | $533,000 | $1M | $17M | $17M | $161M |
| Cost of revenue | $37M | $38M | $42M | $37M | $15M | $8M | $9M | $12M | $12M | $85M |
| Gross profit | -$10M | -$11M | -$9M | -$12M | -$9M | -$11M | -$8M | $5M | $5M | $75M |
| Research and development | $5M | $5M | $5M | $4M | $4M | $7M | $7M | $7M | $6M | $5M |
| Selling, general and admin | $9M | $7M | $8M | $10M | $11M | $25M | $40M | $43M | $46M | $51M |
| Operating income | -$24M | -$23M | -$22M | -$26M | -$27M | -$60M | -$103M | -$82M | -$91M | -$20M |
| Interest expense | $8M | $3M | $3M | $3M | $2M | $251,000 | $1M | $2M | $4M | $18M |
| Pre-tax income | — | — | — | — | — | — | — | — | -$79M | -$33M |
| Income tax | — | — | $0 | $0 | $0 | — | — | — | — | — |
| Net income | -$37M | -$25M | -$28M | -$29M | -$40M | -$59M | -$98M | -$66M | -$79M | -$34M |
| EPS (diluted) | -$193.52 | -$30.23 | -$5.74 | -$2.35 | -$0.71 | -$0.30 | -$0.44 | -$0.28 | -$0.34 | -$0.14 |
| Diluted shares | 0M | 1M | 5M | 12M | 57M | 196M | 222M | 239M | 232M | 234M |
| Gross margin | -36.9% | -38.9% | -26.5% | -50.1% | -173.3% | -2149.0% | -640.3% | 30.3% | 29.0% | 46.9% |
| Operating margin | -90.4% | -85.3% | -67.6% | -107.8% | -493.5% | -11307.3% | -8739.2% | -475.8% | -536.9% | -12.6% |
| Net margin | -140.3% | -90.2% | -85.1% | -117.2% | -735.6% | -11107.5% | -8341.0% | -385.0% | -464.9% | -21.1% |
Balance sheet
Fiscal years, from Gevo's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $28M | $12M | $34M | $16M | $78M | $316M | $405M | $298M | $189M | $81M |
| Receivables | $1M | $1M | $526,000 | $1M | $527,000 | $978,000 | $476,000 | $3M | $2M | $8M |
| Inventory | $3M | $4M | $3M | $3M | $2M | $3M | $6M | $4M | $5M | $19M |
| Total current assets | $33M | $18M | $39M | $24M | $83M | $349M | $415M | $386M | $204M | $143M |
| Property, plant and equipment | $76M | $70M | $67M | $67M | $66M | $138M | $185M | $212M | $222M | $354M |
| Goodwill | — | — | — | — | — | — | — | — | $4M | $44M |
| Total assets | $112M | $89M | $107M | $93M | $152M | $645M | $701M | $650M | $584M | $719M |
| Total current liabilities | $35M | $11M | $5M | $20M | $5M | $29M | $25M | $91M | $24M | $79M |
| Long-term debt | — | — | — | — | $447,000 | $67M | $67M | $21,000 | $67M | $165M |
| Total liabilities | $43M | $25M | $18M | $21M | $6M | $98M | $95M | $93M | $94M | $248M |
| Shareholders' equity | $69M | $64M | $89M | $73M | $146M | $547M | $605M | $557M | $489M | $466M |
| Net debt | -$28M | -$12M | -$34M | -$16M | -$77M | $26M | -$170M | -$230M | -$122M | $84M |
Cash flow
Fiscal years, from Gevo's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$21M | -$21M | -$16M | -$21M | -$19M | -$48M | -$44M | -$54M | -$57M | -$13M |
| Capital spending | $6M | $2M | $2M | $6M | $6M | $57M | $84M | $54M | $51M | $30M |
| Free cash flow | -$26M | -$23M | -$18M | -$27M | -$25M | -$105M | -$128M | -$108M | -$108M | -$44M |
| Stock-based compensation | $886,000 | $421,000 | $683,000 | $1M | $2M | $10M | $17M | $17M | $15M | $9M |
| Share buybacks (net) | — | — | — | — | — | — | — | — | -$5M | — |
| Net borrowing | — | — | — | — | $1M | $69M | $0 | — | $68M | — |
| Free cash flow margin | -99.7% | -82.5% | -55.0% | -109.7% | -462.1% | -19707.5% | -10926.6% | -628.9% | -641.3% | -27.1% |
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Open GEVO in InvestinglyQuestions
What was Gevo's revenue in 2025?
$161M in fiscal 2025, from its 10-K filing.
How much free cash flow does Gevo generate?
-$44M in fiscal 2025 (operating cash flow minus capital spending).
From Gevo's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.