NASDAQ: GEVO
Gevo, Inc.CIK 0001392380 · SIC 2860 · Industrial Organic Chemicals
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GEVO: revenue $46.5M, net income -$176.9M. Gevo swings to operating loss on ATJ-180 impairment, deposit write-down
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Gevo appoints former ADM Chief Science Officer Todd Werpy to Board of Directors
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Gevo targets more than doubled 2026 Adjusted EBITDA on carbon pathway expansion
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Latest financial statements
From 10-Q filed Aug 6, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations (Unaudited)
(Unaudited, in thousands, except share and per share amounts)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Total revenues | 46,501 | 43,413 | 89,449 | 72,522 |
| Cost of production | 19,918 | 17,265 | 40,150 | 38,711 |
| Depreciation and amortization | 6,784 | 7,213 | 13,644 | 12,835 |
| Gross profit | 19,799 | 18,935 | 35,655 | 20,976 |
| Operating expenses: | ||||
| Research and development expense | 440 | 934 | 1,939 | 1,986 |
| General and administrative expense | 12,882 | 10,783 | 29,097 | 21,867 |
| Project development costs | 2,403 | 831 | 5,443 | 5,833 |
| Acquisition related costs | — | — | — | 4,438 |
| Facility idling costs | — | 591 | — | 1,195 |
| Impairment of long-lived assets | 135,788 | — | 135,788 | — |
| Allowance for credit losses on refundable deposits | 39,782 | — | 39,782 | — |
| Loss on disposal of assets, net | 210 | — | 210 | — |
| Total operating expenses | 191,505 | 13,139 | 212,259 | 35,319 |
| (Loss) income from operations | (171,706) | 5,796 | (176,604) | (14,343) |
| Other (expense) income | ||||
| Interest expense | (5,631) | (4,345) | (10,801) | (7,639) |
| Loss on extinguishment of bonds | — | — | (10,304) | — |
| Interest and investment income | 630 | 1,322 | 1,443 | 3,092 |
| Other expense, net | 446 | (44) | (1,346) | (154) |
| Total other expense, net | (4,555) | (3,067) | (21,008) | (4,701) |
| Net (loss) income | (176,261) | 2,729 | (197,612) | (19,044) |
| Net income attributable to redeemable non-controlling interest | 680 | 585 | 1,026 | 540 |
| Net (loss) income attributed to Gevo, Inc. | (176,941) | 2,144 | (198,638) | (19,584) |
| Net (loss) income per share basic | (0.75) | 0.01 | (0.84) | (0.08) |
| Net (loss) income per share diluted | (0.75) | 0.01 | (0.84) | (0.08) |
| Weighted-average common shares outstanding basic | 237,054,708 | 232,945,048 | 237,429,647 | 232,490,122 |
| Weighted-average common shares outstanding diluted | 237,054,708 | 236,839,117 | 237,429,647 | 232,490,122 |
Condensed Consolidated Balance Sheets (Unaudited)
(Unaudited, in thousands, except share and per share amounts)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | 58,147 | 81,163 |
| Restricted cash | — | 28,770 |
| Trade accounts receivable, net | 11,970 | 8,394 |
| Inventories | 19,304 | 19,076 |
| Prepaid expenses and other current assets | 12,179 | 6,001 |
| Total current assets | 101,600 | 143,404 |
| Property, plant and equipment, net | 238,119 | 353,577 |
| Restricted cash | — | 7,006 |
| Operating right-of-use assets | 2,671 | 1,964 |
| Finance right-of-use assets | 670 | 430 |
| Intangible assets, net | 71,592 | 95,003 |
| Goodwill | 43,558 | 43,558 |
| Deposits and other assets | 32,504 | 73,987 |
| Total assets | 490,714 | 718,929 |
| Liabilities | ||
| Current liabilities | ||
| Accounts payable and accrued liabilities | 33,391 | 36,508 |
| Deferred clean fuel production tax credits | 3,344 | 41,115 |
| Operating lease liabilities | 817 | 689 |
| Finance lease liabilities | 92 | 273 |
| Total current liabilities | 37,644 | 78,585 |
| Bonds payable, net | — | 64,247 |
| Loans payable | 167,239 | 100,503 |
| Operating lease liabilities | 1,940 | 1,416 |
| Finance lease liabilities | 613 | 394 |
| Asset retirement obligation | 2,326 | 2,250 |
| Other long-term liabilities | — | 365 |
| Total liabilities | 209,762 | 247,760 |
| Redeemable non-controlling interest | 7,789 | 4,832 |
| Equity | ||
| Common stock, $0.01 par value per share; 500,000,000 shares authorized; 247,237,104 and 242,464,470 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively. | 2,472 | 2,425 |
| Additional paid-in capital | 1,303,403 | 1,298,064 |
| Accumulated deficit | (1,032,712) | (834,152) |
| Total stockholders' equity | 273,163 | 466,337 |
| Total liabilities and stockholders' equity | 490,714 | 718,929 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(Unaudited, in thousands)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Operating Activities | ||
| Net loss | (197,612) | (19,044) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Impairment of long-lived assets | 135,788 | — |
| Allowance for credit losses on refundable deposits | 39,782 | — |
| Loss on disposal of property and equipment | 210 | — |
| Loss on extinguishment of bonds | 10,304 | — |
| Stock-based compensation | 4,661 | 4,142 |
| Depreciation and amortization | 13,644 | 12,835 |
| Change in fair value of derivative instruments | (2,690) | (652) |
| Production tax credits generated | (32,014) | (21,494) |
| Other non-cash expense | 2,203 | 1,274 |
| Changes in operating assets and liabilities, net of effects of acquisition: | ||
| Accounts receivable | (3,576) | (3,634) |
| Inventories | (501) | (788) |
| Prepaid expenses and other current assets, deposits and other assets | 475 | (9,504) |
| Accounts payable, accrued expenses and non-current liabilities | (7,569) | 10,295 |
| Deferred clean fuel production tax credits | 7,480 | — |
| Net cash used in operating activities | (29,415) | (26,570) |
| Investing Activities | ||
| Acquisitions of property, plant and equipment | (21,369) | (11,077) |
| Acquisition of Red Trail Energy, net of cash acquired | — | (198,461) |
| Issuance of note receivable | (250) | — |
| Net cash used in investing activities | (21,619) | (209,538) |
| Financing Activities | ||
| Redemption of bonds | (68,155) | — |
| Term loan proceeds | 70,000 | 105,000 |
| Payment of debt issuance costs | (2,612) | (5,480) |
| Non-controlling interest | — | 5,000 |
| Payment of prepayment penalty on redemption of bonds | (6,506) | — |
| Proceeds from the exercise of stock options | 252 | 182 |
| Payment of finance lease liabilities | (141) | (726) |
| Payments for tax withholdings on employee equity awards | (596) | — |
| Net cash (used in) provided by financing activities | (7,758) | 103,976 |
| Net decrease in cash and cash equivalents | (58,792) | (132,132) |
| Cash, cash equivalents and restricted cash at beginning of period | 116,939 | 259,033 |
| Cash, cash equivalents and restricted cash at end of period | 58,147 | 126,901 |
Amounts as printed on the EDGAR/iXBRL face — (Unaudited, in thousands, except share and per share amounts); (Unaudited, in thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗