GeoVax Labs, Inc. New (GOVX) Financials

GOVX

FY2025 annual

Revenue $2.5M -37.1% YoY

Net Income -$21.5M +14.1% YoY

Free Cash Flow -$21.5M +12.9% YoY

Operating Cash Flow -$21.5M +13.0% YoY

Market Cap $2.6M as of Oct 12, 2026

Price / Sales 1.0x on $2.5M revenue, FY2025

Price / Earnings n/m net loss, so no earnings multiple, FY2025

Price / Book 1.5x on $1.8M equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 12, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Sep 17, 2026 Currency USD FYE December

Newest figures come from the S-1 for Q2 FY2026, filed Sep 17, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the GOVX SEC filings page.

GeoVax Labs, Inc. New (GOVX) reported $2.5M in revenue for fiscal year 2025, down 37.1% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI GOVX FY2025 2026-10-03

GeoVax remains a development-stage operation: research spending far exceeds revenue, while external financing funds its cash needs.

In FY2025, operating cash flow nearly matched the reported net loss, while capital spending was only $28K; the cash shortfall comes mainly from ongoing development and administration, not from a large physical-investment program.

R&D fell from $23.7M in FY2024 to $18.1M in FY2025, but the reduction did not change the development-stage economics. FY2025 revenue was $2.5M, making R&D roughly 7.3x sales and leaving current activity dependent on funding ahead of commercial receipts.

FY2025 financing provided $19.1M against operating cash flow of -$21.5M, showing that reported liquidity was replenished externally rather than by operations. Debt-to-equity was 0.7x, yet the reported liquidity comparison equaled 1.7 months of annual operating outflow.

Financial Health Signals

Financial Health Score 45/100

Scored as: Emerging companies peer group

Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of GeoVax Labs, Inc. New's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Cash Runway

GeoVax Labs, Inc. New held $3.1M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $21.5M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and GeoVax Labs, Inc. New scores 7/100 among other emerging companies.

Dilution

GeoVax Labs, Inc. New had 3M shares outstanding at the end of fiscal year 2025. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and GeoVax Labs, Inc. New scores 41/100 among other emerging companies.

R&D Intensity

GeoVax Labs, Inc. New spent $18.1M on research and development in fiscal year 2025, which was 75.1% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and GeoVax Labs, Inc. New scores 94/100 among other emerging companies.

Revenue Progress

GeoVax Labs, Inc. New reported revenue of $2.5M in fiscal year 2025, against $4.0M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and GeoVax Labs, Inc. New scores 10/100 among other emerging companies.

Burn Trend

GeoVax Labs, Inc. New's operations used $21.5M of cash in fiscal year 2025, against $24.7M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and GeoVax Labs, Inc. New scores 53/100 among other emerging companies.

Balance Sheet

GeoVax Labs, Inc. New's cash, cash equivalents and investments came to $3.1M at the end of fiscal year 2025, against $2.5M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and GeoVax Labs, Inc. New scores 64/100 among other emerging companies.

Altman Z-Score Distress

-42.91

GeoVax Labs, Inc. New scores -42.91, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($2.6M) relative to total liabilities ($2.5M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

2/7

GeoVax Labs, Inc. New passes 2 of 7 computable financial strength tests (2 of the nine could not be computed from available data). No profitability signals pass, all 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality No Cash Backing

N/A

GeoVax Labs, Inc. New reported a net loss of $21.5M while operations used $21.5M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Key Financial Metrics

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Earnings & Revenue

Revenue

YoY-100.0%

GeoVax Labs, Inc. New generated $0 in revenue in Q2 2026. This represents a decrease of 100.0% from the same quarter a year earlier.

EBITDA

-$4.4M

YoY+18.0%

QoQ+15.8%

GeoVax Labs, Inc. New's EBITDA was -$4.4M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 18.0% from the same quarter a year earlier. Against the prior quarter it is up 15.8%.

Net Income

-$4.4M

YoY+17.6%

QoQ+15.9%

GeoVax Labs, Inc. New reported -$4.4M in net income in Q2 2026. This represents an increase of 17.6% from the same quarter a year earlier. Against the prior quarter it is up 15.9%.

EPS (Diluted)

Not reported for Q2 2026.

Cash & Balance Sheet

Free Cash Flow

-$3.7M

YoY+15.8%

QoQ-3.4%

GeoVax Labs, Inc. New recorded an outflow of $3.7M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents an increase of 15.8% from the same quarter a year earlier. Against the prior quarter it is down 3.4%.

Cash & Debt

$3.1M

YoY+1.6%

QoQ+147.2%

5Y CAGR-30.6%

10Y CAGR+30.8%

GeoVax Labs, Inc. New held $3.1M in cash as of Q2 2026; long-term debt is not reported for that period.

Shares Outstanding

5Y CAGR+3.1%

10Y CAGR-16.3%

GeoVax Labs, Inc. New had 7M shares outstanding in Q2 2026.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Return on Equity

-251.4%

YoY-61.1pp

QoQ+814.2pp

GeoVax Labs, Inc. New's ROE was -251.4% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 61.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 814.2 percentage points.

Gross Margin

Not reported for Q2 2026.

Operating Margin

Not reported for Q2 2026.

Net Margin

Not reported for Q2 2026.

Capital Allocation

R&D Spending

$3.1M

YoY-34.2%

QoQ-20.3%

GeoVax Labs, Inc. New invested $3.1M in research and development in Q2 2026. This represents a decrease of 34.2% from the same quarter a year earlier. Against the prior quarter it is down 20.3%.

Capital Expenditures

YoY-100.0%

GeoVax Labs, Inc. New reported no capital expenditure in Q2 2026. This represents a decrease of 100.0% from the same quarter a year earlier.

Share Buybacks

Not reported for Q2 2026.

GOVX Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

GOVX quarterly income statement

Metric	TTM	FY25S-1	FY24S-1	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	N/A	$2.5M-37.1%	$4.0M	$0-100.0%	$82K-78.9%	$386K-78.9%	$1.8M+55.1%	$1.2M+22.1%	$963K-10.4%	$1.1M+29.7%	$829K	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	$18.1M-23.6%	$23.7M+14.4%	$20.7M+127.1%	$9.1M-41.3%	$15.6M+536.3%	$2.4M+27.9%	$1.9M+1.7%	$1.9M-6.9%	$2.0M+2.4%	$2.0M+16.4%	$1.7M-6.6%	$1.8M-37.8%	$2.9M-4.2%	$3.0M-28.8%	$4.3M
SG&A Expenses	N/A	$6.0M+11.5%	$5.4M-10.6%	$6.0M+20.8%	$5.0M+39.4%	$3.6M+62.9%	$2.2M+34.1%	$1.6M-0.6%	$1.6M+33.7%	$1.2M-42.2%	$2.1M+49.1%	$1.4M-20.9%	$1.8M+0.9%	$1.8M+2.2%	$1.8M-41.0%	$3.0M
Operating Income	N/A	-$21.6M+13.9%	-$25.1M+6.0%	-$26.7M-90.6%	-$14.0M+25.2%	-$18.7M-565.5%	-$2.8M-18.7%	-$2.4M+7.4%	-$2.6M-17.9%	-$2.2M+33.6%	-$3.3M-21.5%	-$2.7M+1.6%	-$2.7M-19.6%	-$2.3M-7.0%	-$2.1M+8.9%	-$2.3M
EBITDA	N/A	-$21.6M+13.9%	-$25.0M+6.1%	-$26.7M-90.9%	-$14.0M+25.3%	-$18.7M-568.8%	-$2.8M-18.3%	-$2.4M+7.0%	-$2.5M-18.5%	-$2.1M+33.8%	-$3.2M-21.7%	-$2.7M+0.1%	-$2.7M-20.7%	-$2.2M-8.1%	-$2.0M+8.7%	-$2.2M
Interest Expense	N/A	$0-100.0%	$21K	$0	$0-100.0%	$1K-99.1%	$144K+3093.0%	$4K+73.6%	$3K	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	$0	N/A	N/A	N/A	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Net Income	N/A	-$21.5M+14.1%	-$25.0M+3.8%	-$26.0M-85.2%	-$14.0M+24.5%	-$18.6M-527.8%	-$3.0M-24.8%	-$2.4M+7.4%	-$2.6M-18.0%	-$2.2M+33.7%	-$3.3M-21.7%	-$2.7M+1.6%	-$2.7M-19.6%	-$2.3M-7.0%	-$2.1M+9.0%	-$2.3M
EPS (Basic)	N/A	-$22.40+81.4%	-$120.46-743.0%	-$14.29-15.3%	-$12.39-307.6%	-$3.04	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26S-1	Q1'2610-Q	Q4'25S-1	Q3'2510-Q	Q2'25S-1	Q1'2510-Q	Q4'24S-1	Q3'2410-Q
Revenue	$0-100.0%	$0-100.0%	N/A	$0-100.0%	$852K+183.5%	$1.6M	N/A	$2.8M
R&D Expenses	$3.1M-34.2%	$3.9M-27.1%	N/A	$5.0M-31.9%	$4.7M+10.6%	$5.4M+21.0%	N/A	$7.4M+6.5%
SG&A Expenses	$1.3M-13.7%	$1.4M-18.8%	N/A	$1.3M+7.1%	$1.5M+42.0%	$1.7M+15.8%	N/A	$1.2M-24.9%
Operating Income	-$4.4M+18.0%	-$5.3M+2.4%	N/A	-$6.4M-8.9%	-$5.4M-7.0%	-$5.4M+8.1%	N/A	-$5.9M+31.9%
EBITDA	-$4.4M+18.0%	-$5.3M+2.4%	N/A	-$6.4M-9.1%	-$5.4M-7.2%	-$5.4M+8.1%	N/A	-$5.8M+32.1%
Interest Expense	N/A	N/A	N/A	$0-100.0%	$0-100.0%	N/A	N/A	$14K
Income Tax	$0	$0	N/A	N/A	$0	$0	N/A	N/A
Net Income	-$4.4M+17.6%	-$5.3M+1.8%	N/A	-$6.3M-8.7%	-$5.4M-6.0%	-$5.4M+8.4%	N/A	-$5.8M+30.8%
EPS (Basic)	-$0.97+88.9%	-$2.62+76.6%	-$21.43-7043.3%	-$0.31+65.9%	-$8.74-339.2%	-$11.20-353.4%	-$0.30+97.8%	-$0.91+80.8%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, EPS (Diluted), Diluted Shares (Avg).

GOVX Balance Sheet

GOVX quarterly balance sheet

Metric	FY25S-1	FY24S-1	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$6.3M-22.2%	$8.2M-12.1%	$9.3M-70.4%	$31.3M+165.7%	$11.8M+13.5%	$10.4M+2116.8%	$469K-27.0%	$642K+31.0%	$490K-19.7%	$610K-54.2%	$1.3M-0.1%	$1.3M-53.0%	$2.8M+92.1%	$1.5M-10.2%	$1.6M
Current Assets	$5.3M-33.0%	$7.9M+0.6%	$7.9M-72.8%	$28.9M+148.8%	$11.6M+13.6%	$10.2M+2188.4%	$447K-27.8%	$620K+38.3%	$448K-17.7%	$544K-56.0%	$1.2M+0.9%	$1.2M-54.6%	$2.7M+100.7%	$1.3M-5.2%	$1.4M
Cash & Equivalents	$3.1M-44.0%	$5.5M-14.7%	$6.5M-76.6%	$27.6M+141.7%	$11.4M+15.6%	$9.9M+3388.3%	$283K+9.1%	$260K-17.0%	$313K-31.1%	$454K-57.2%	$1.1M-3.7%	$1.1M-56.2%	$2.5M+142.7%	$1.0M-11.3%	$1.2M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$0-100.0%	$659K	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$2.5M-19.0%	$3.1M-11.7%	$3.5M-25.9%	$4.7M-36.1%	$7.4M+801.2%	$825K-59.6%	$2.0M+22.8%	$1.7M+105.2%	$811K+119.4%	$370K+191.2%	$127K-32.1%	$187K-40.1%	$312K-4.5%	$327K-65.3%	$942K
Current Liabilities	$1.9M-37.7%	$3.1M-11.7%	$3.5M-25.9%	$4.7M-12.6%	$5.4M+570.8%	$810K-59.8%	$2.0M+24.1%	$1.6M+100.3%	$811K+119.4%	$370K+191.2%	$127K-32.1%	$187K-40.1%	$312K-4.5%	$327K-65.3%	$942K
Non-Current Liabilities	$580K	$0	$0	$0-100.0%	$2.0M+13470.4%	$15K-45.9%	$27K-31.2%	$40K	$0	$0	$0	$0	$0	$0	$0
Total Equity	$3.8M-24.2%	$5.0M-12.4%	$5.8M-78.3%	$26.6M+509.9%	$4.4M-54.4%	$9.6M+707.7%	-$1.6M-54.0%	-$1.0M-218.4%	-$321K-233.6%	$240K-80.0%	$1.2M+5.1%	$1.1M-54.6%	$2.5M+119.6%	$1.2M+63.6%	$704K
Retained Earnings	-$150.8M-16.6%	-$129.4M-23.9%	-$104.4M-33.1%	-$78.4M-21.8%	-$64.4M-40.5%	-$45.8M-6.9%	-$42.8M-5.9%	-$40.5M-6.8%	-$37.9M-6.1%	-$35.7M-10.1%	-$32.5M-9.0%	-$29.8M	N/A	N/A	N/A

Metric	Q2'26S-1	Q1'2610-Q	Q4'25S-1	Q3'2510-Q	Q2'25S-1	Q1'2510-Q	Q4'24S-1	Q3'2410-Q
Total Assets	$4.6M-13.2%	$3.0M-72.5%	$6.3M-22.2%	$6.7M-39.4%	$5.4M+30.7%	$10.8M+222.6%	$8.2M-12.1%	$11.1M-31.4%
Current Assets	$4.2M-18.7%	$2.4M-77.1%	$5.3M-33.0%	$6.5M-40.0%	$5.1M+33.6%	$10.6M+270.8%	$7.9M+0.6%	$10.9M-26.6%
Cash & Equivalents	$3.1M+1.6%	$1.3M-82.9%	$3.1M-44.0%	$5.0M-41.7%	$3.1M+98.1%	$7.4M+867.5%	$5.5M-14.7%	$8.6M-32.3%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	N/A	N/A	$0-100.0%	$0-100.0%	$533K+77.2%	$1.5M	$659K	$548K
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$2.9M+14.0%	$2.5M-15.2%	$2.5M-19.0%	$1.8M-30.1%	$2.5M-60.5%	$2.9M-11.2%	$3.1M-11.7%	$2.6M-63.2%
Current Liabilities	$2.7M+7.2%	$2.3M-21.9%	$1.9M-37.7%	$1.8M-30.1%	$2.5M-60.5%	$2.9M-11.2%	$3.1M-11.7%	$2.6M-63.2%
Non-Current Liabilities	$170K	$197K	$580K	$0	$0	$0	$0	$0
Total Equity	$1.8M-37.6%	$494K-93.7%	$3.8M-24.2%	$4.9M-42.3%	$2.8M+222.2%	$7.9M+14451.9%	$5.0M-12.4%	$8.5M-6.7%
Retained Earnings	-$160.5M-14.6%	-$156.1M-15.9%	-$150.8M-16.6%	-$146.4M-20.9%	-$140.1M-21.5%	-$134.7M-22.2%	-$129.4M-23.9%	-$121.1M-25.1%

Not reported in any period shown, so not listed: Inventory, Goodwill, Long-Term Debt.

GOVX Cash Flow Statement

GOVX quarterly cash flow statement

Metric	TTM	FY25S-1	FY24S-1	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	-$18.4M	-$21.5M+13.0%	-$24.7M+2.0%	-$25.2M-32.3%	-$19.0M-70.0%	-$11.2M-307.1%	-$2.8M-96.7%	-$1.4M+9.4%	-$1.5M+8.6%	-$1.7M+13.2%	-$1.9M+28.1%	-$2.7M-20.2%	-$2.3M-32.8%	-$1.7M+30.6%	-$2.4M-704.0%	-$304K
Depreciation & Amortization	N/A	$69K-27.9%	$95K+28.6%	$74K+31.8%	$56K+46.1%	$39K+96.0%	$20K+135.4%	$8K-57.8%	$20K-29.4%	$28K-2.6%	$29K-0.5%	$29K-58.1%	$69K-12.5%	$79K-15.8%	$94K-14.1%	$109K
Stock-Based Compensation	N/A	$1.1M+110.9%	$529K-50.8%	$1.1M+19.2%	$902K+143.8%	$370K+474.0%	$64K-80.3%	$328K-30.3%	$470K+720.9%	$57K-94.1%	$968K+1325.0%	$68K-85.8%	$479K+19.1%	$402K+29.7%	$310K-59.9%	$773K
Capital Expenditures	$0	$28K+33.7%	$21K-57.8%	$49K-63.5%	$134K+181.4%	$48K-69.6%	$157K+1961.4%	$8K	N/A	$4K	N/A	$16K-55.4%	$36K-59.0%	$87K	N/A	$12K
Free Cash Flow	-$18.4M	-$21.5M+12.9%	-$24.7M+2.1%	-$25.2M-31.6%	-$19.2M-70.4%	-$11.2M-286.7%	-$2.9M-106.8%	-$1.4M	N/A	-$1.7M	N/A	-$2.7M-19.1%	-$2.3M-28.3%	-$1.8M	N/A	-$316K
Investing Cash Flow	$0	-$28K-33.7%	-$21K+57.8%	-$49K+63.5%	-$134K-181.4%	-$48K+69.6%	-$157K-1961.4%	-$8K	N/A	-$4K	N/A	-$16K+55.4%	-$36K+59.0%	-$87K	N/A	-$12K
Financing Cash Flow	$18.4M	$19.1M-19.7%	$23.8M+484.6%	$4.1M-88.5%	$35.4M+176.5%	$12.8M+2.2%	$12.5M+774.8%	$1.4M-4.0%	$1.5M-4.0%	$1.6M+15.8%	$1.3M-50.0%	$2.7M+206.8%	$873K-73.2%	$3.3M+41.1%	$2.3M+471.0%	$404K

Metric	Q2'26S-1	Q1'2610-Q	Q4'25S-1	Q3'2510-Q	Q2'25S-1	Q1'2510-Q	Q4'24S-1	Q3'2410-Q
Operating Cash Flow	-$3.7M+15.6%	-$3.5M+40.7%	-$5.0M+36.0%	-$6.2M+33.2%	-$4.3M-123.3%	-$6.0M-5.0%	-$7.8M+24.6%	-$9.3M-82.5%
Depreciation & Amortization	$12K-28.1%	$12K-28.6%	$18K-15.8%	$17K-44.7%	$17K-29.2%	$17K-13.6%	$22K-2.6%	$30K+75.6%
Stock-Based Compensation	N/A	$219K-25.1%	N/A	N/A	N/A	$293K+85.6%	N/A	N/A
Capital Expenditures	$0-100.0%	$0-100.0%	$0	$0-100.0%	$11K	$17K	$0-100.0%	$21K+233.5%
Free Cash Flow	-$3.7M+15.8%	-$3.5M+40.9%	-$5.0M+36.0%	-$6.2M+33.3%	-$4.3M-123.9%	-$6.0M-5.3%	-$7.8M+24.7%	-$9.3M-82.6%
Investing Cash Flow	$0+100.0%	$0+100.0%	$0	$0+100.0%	-$11K	-$17K	$0+100.0%	-$21K-233.5%
Financing Cash Flow	$5.5M+2645719.6%	$1.7M-78.2%	$3.0M-34.9%	$8.1M-50.3%	$209-100.0%	$7.9M	$4.7M+14.9%	$16.3M

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

GOVX Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

GOVX quarterly financial ratios

Metric	FY25S-1	FY24S-1	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Margin	-869.3%	-635.8%	N/A	-17207.5%	-4862.7%	-154.5%	-201.8%	-266.1%	-202.2%	-394.9%	N/A	N/A	N/A	N/A	N/A
Net Margin	-862.3%	-632.0%	N/A	-17198.3%	-4817.2%	-162.2%	-201.6%	-265.8%	-201.8%	-394.7%	N/A	N/A	N/A	N/A	N/A
Return on Equity	-561.2%-66.1pp	-495.0%-44.5pp	-450.5%-397.8pp	-52.7%+373.1pp	-425.8%-394.9pp	-30.9%	N/A	N/A	N/A	-1361.1%-1137.9pp	-223.3%+15.2pp	-238.5%-148.1pp	-90.4%+95.1pp	-185.5%+148.0pp	-333.5%
Return on Assets	-338.5%-32.0pp	-306.4%-26.7pp	-279.7%-235.0pp	-44.7%+112.7pp	-157.4%-129.0pp	-28.5%+477.1pp	-505.6%-106.9pp	-398.7%+44.0pp	-442.7%+93.5pp	-536.2%-334.2pp	-202.0%+3.1pp	-205.0%-124.6pp	-80.5%+64.0pp	-144.5%-1.8pp	-142.7%
Current Ratio	2.74+0.2x	2.55+0.3x	2.24-3.9x	6.10+4.0x	2.14-10.5x	12.63+12.4x	0.22-0.2x	0.38-0.2x	0.55-0.9x	1.47-8.3x	9.74+3.2x	6.55-2.1x	8.64+4.5x	4.11+2.6x	1.51
Debt-to-Equity	0.660.0x	0.620.0x	0.61+0.4x	0.18-1.5x	1.70+1.6x	0.09	N/A	N/A	N/A	1.54+1.4x	0.11-0.1x	0.160.0x	0.12-0.2x	0.28-1.1x	1.34
Asset Turnover	0.39-0.1x	0.48+0.5x	0.000.0x	0.000.0x	0.03-0.1x	0.18-2.3x	2.51+1.0x	1.50-0.7x	2.19+0.8x	1.36	N/A	N/A	N/A	N/A	N/A
FCF Margin	-863.8%	-624.5%	N/A	-23507.2%	-2916.8%	-159.4%	-119.6%	N/A	-157.4%	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26S-1	Q1'2610-Q	Q4'25S-1	Q3'2510-Q	Q2'25S-1	Q1'2510-Q	Q4'24S-1	Q3'2410-Q
Operating Margin	N/A	N/A	N/A	N/A	-635.8%	-330.2%	N/A	-209.9%
Net Margin	N/A	N/A	N/A	N/A	-630.1%	-327.3%	N/A	-208.5%
Return on Equity	-251.4%-61.1pp	-1065.7%-997.8pp	N/A	-128.8%-60.4pp	-190.3%	-67.8%+10710.9pp	N/A	-68.4%+23.8pp
Return on Assets	-95.3%+5.0pp	-176.4%-127.0pp	N/A	-93.9%-41.5pp	-100.4%+23.3pp	-49.5%+124.8pp	N/A	-52.3%-0.4pp
Current Ratio	1.54-0.5x	1.06-2.6x	2.74+0.2x	3.57-0.6x	2.03+1.4x	3.62+2.7x	2.55+0.3x	4.17+2.1x
Debt-to-Equity	1.64+0.7x	5.04+4.7x	0.660.0x	0.37+0.1x	0.90	0.37-60.5x	0.620.0x	0.31-0.5x
Asset Turnover	0.00-0.2x	0.00-0.2x	N/A	0.00-0.3x	0.16+0.1x	0.15+0.2x	N/A	0.25+0.3x
FCF Margin	N/A	N/A	N/A	N/A	-509.8%	-365.5%	N/A	-334.0%

Not reported in any period shown, so not listed: Gross Margin.

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
GeoVax Labs, Inc. New GOVX	FY2025	$2.5M	-$21.5M	N/A	$2.6M	45/100
Evaxion A/S EVAX	FY2025	$7.5M	-$7.7M	N/A	$27.7M	30/100
iBio, Inc. IBIO	FY2026	$100K	-$32.8M	N/A	$56.0M	—
Pulmatrix, Inc. PULM	FY2025	N/A	-$5.2M	N/A	$5.3M	—
Tharimmune, Inc. THAR	FY2025	N/A	-$35.9M	N/A	$187.4M	—
Lisata Therapeutics, Inc. LSTA	FY2025	$170K	-$17.0M	N/A	$11.5M	—

Where GeoVax Labs, Inc. New Ranks

Frequently Asked Questions

What is GeoVax Labs, Inc. New's annual revenue?

GeoVax Labs, Inc. New (GOVX) reported $2.5M in total revenue for fiscal year 2025. This represents a -37.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is GeoVax Labs, Inc. New's revenue growing?

GeoVax Labs, Inc. New (GOVX) revenue declined by 37.1% year-over-year, from $4.0M to $2.5M in fiscal year 2025.

Is GeoVax Labs, Inc. New profitable?

No, GeoVax Labs, Inc. New (GOVX) reported a net income of -$21.5M in fiscal year 2025.

What is GeoVax Labs, Inc. New's EBITDA?

GeoVax Labs, Inc. New (GOVX) had EBITDA of -$21.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is GeoVax Labs, Inc. New's return on equity (ROE)?

GeoVax Labs, Inc. New (GOVX) has a return on equity of -561.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is GeoVax Labs, Inc. New's free cash flow?

GeoVax Labs, Inc. New (GOVX) recorded an outflow of $21.5M in free cash flow during fiscal year 2025. This represents a 12.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is GeoVax Labs, Inc. New's operating cash flow?

GeoVax Labs, Inc. New (GOVX) recorded an outflow of $21.5M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are GeoVax Labs, Inc. New's total assets?

GeoVax Labs, Inc. New (GOVX) had $6.3M in total assets as of fiscal year 2025, including both current and long-term assets.

What are GeoVax Labs, Inc. New's capital expenditures?

GeoVax Labs, Inc. New (GOVX) invested $28K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does GeoVax Labs, Inc. New spend on research and development?

GeoVax Labs, Inc. New (GOVX) invested $18.1M in research and development during fiscal year 2025.

How many shares does GeoVax Labs, Inc. New have outstanding?

GeoVax Labs, Inc. New (GOVX) had 3M shares outstanding as of fiscal year 2025.

What is GeoVax Labs, Inc. New's current ratio?

GeoVax Labs, Inc. New (GOVX) had a current ratio of 2.74 as of fiscal year 2025, which is generally considered healthy.

What is GeoVax Labs, Inc. New's debt-to-equity ratio?

GeoVax Labs, Inc. New (GOVX) had a debt-to-equity ratio of 0.66 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is GeoVax Labs, Inc. New's return on assets (ROA)?

GeoVax Labs, Inc. New (GOVX) had a return on assets of -338.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is GeoVax Labs, Inc. New's P/E ratio?

GeoVax Labs, Inc. New (GOVX) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $2.6M as of Oct 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is GeoVax Labs, Inc. New's price-to-sales ratio?

GeoVax Labs, Inc. New (GOVX) trades at 1.0x sales, its market capitalization divided by revenue of $2.5M revenue, FY2025. The market capitalization is $2.6M as of Oct 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

How does GeoVax Labs, Inc. New's liquidity compare with its operating cash outflow?

At the end of fiscal year 2025, GeoVax Labs, Inc. New (GOVX) held $3.1M in cash, cash equivalents and investments, and reported an operating cash outflow of $21.5M over that year. Dividing the one by the other, the reported balance equals about 2 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.

What is GeoVax Labs, Inc. New's Altman Z-Score?

GeoVax Labs, Inc. New (GOVX) has an Altman Z-Score of -42.91, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is GeoVax Labs, Inc. New's Piotroski F-Score?

GeoVax Labs, Inc. New (GOVX) has a Piotroski F-Score of 2 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are GeoVax Labs, Inc. New's earnings high quality?

GeoVax Labs, Inc. New (GOVX) reported a net loss of $21.5M while operations used $21.5M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is GeoVax Labs, Inc. New?

GeoVax Labs, Inc. New (GOVX) scores 45 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.