GeoVax Labs Warrants (GOVXW) Financials

GOVXW NASDAQ

FY2025 annual

Revenue $2.5M -37.1% YoY

Net Income -$21.5M n/m YoY

Free Cash Flow -$21.5M n/m YoY

Operating Cash Flow -$21.5M n/m YoY

Source SEC Filings (10-K/10-Q) Latest period Q1 FY2026, ended Mar 31, 2026 Reported May 14, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q1 FY2026, filed May 14, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the GOVXW SEC filings page.

GeoVax Labs, Inc. Warrants (GOVXW) 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 GOVXW FY2025 2026-10-24

GeoVax remains a development-stage business: research spending dwarfs revenue, while operations consume cash and financing supplies most funding.

In FY2025, the net loss was $21.5M while operating cash flow was -$21.5M, showing that reported losses closely tracked cash consumption rather than reflecting mainly non-cash charges. The near-match, alongside capital expenditures of $28K, means financing cash flow of $19.1M supplied most of the year's funding.

R&D was $18.1M against revenue of $2.5M, so reported sales remain too small to absorb the research budget. SG&A added $6.0M, reinforcing a cost structure centered on ongoing operations rather than capital assets.

Liabilities were 39.7% of assets and the current ratio was 2.7x, indicating current resources exceeded near-term obligations. Yet reported liquidity equaled only 1.7 months of annual operating outflow, so balance-sheet coverage did not translate into internally funded operations.

Financial Health Signals

Financial Health Score 51/100

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, and the overall is the average of the dimensions that can be computed. 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. Warrants'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. Warrants 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. Warrants scores 8/100 among other emerging companies.

Dilution

GeoVax Labs, Inc. Warrants had 2M 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. Warrants scores 77/100 among other emerging companies.

R&D Intensity

GeoVax Labs, Inc. Warrants 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. Warrants scores 93/100 among other emerging companies.

Revenue Progress

GeoVax Labs, Inc. Warrants 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. Warrants scores 10/100 among other emerging companies.

Burn Trend

GeoVax Labs, Inc. Warrants'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. Warrants scores 55/100 among other emerging companies.

Balance Sheet

GeoVax Labs, Inc. Warrants'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. Warrants scores 65/100 among other emerging companies.

Piotroski F-Score Partial

1/7

GeoVax Labs, Inc. Warrants passes 1 of 7 computable financial strength tests (2 of the nine could not be computed from available data). No profitability signals pass, 1 of 2 leverage/liquidity signals pass, the one computable operating efficiency signal (asset turnover improving) does not pass.

Earnings Quality No Cash Backing

N/A

GeoVax Labs, Inc. Warrants 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. Warrants generated $0 in revenue in Q1 2026. This represents a decrease of 100.0% from the same quarter a year earlier.

EBITDA

-$5.3M

YoYn/m

GeoVax Labs, Inc. Warrants's EBITDA was -$5.3M in Q1 2026, measuring earnings before interest, taxes, depreciation, and amortization. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative.

Net Income

-$5.3M

YoYn/m

GeoVax Labs, Inc. Warrants reported a net loss of $5.3M in Q1 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative.

EPS (Diluted)

Not reported for Q1 2026.

Cash & Balance Sheet

Free Cash Flow

-$3.5M

YoYn/m

QoQn/m

5Y CAGRn/m

GeoVax Labs, Inc. Warrants recorded an outflow of $3.5M in free cash flow in Q1 2026, representing a cash shortfall after capex. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.

Cash & Debt

$1.3M

YoY-82.9%

QoQ-58.8%

5Y CAGR-42.8%

10Y CAGR+6.6%

GeoVax Labs, Inc. Warrants held $1.3M in cash as of Q1 2026; no long-term debt figure is on record for that period.

Shares Outstanding

QoQ+67.0%

GeoVax Labs, Inc. Warrants had 3M shares outstanding in Q1 2026. Against the prior quarter it is up 67.0%.

Dividends Per Share

Not reported for Q1 2026.

Margins & Returns

Return on Equity

-1065.7%

YoY-997.8pp

GeoVax Labs, Inc. Warrants's quarterly ROE was -1065.7% in Q1 2026: one quarter's net income over shareholder equity, not annualized. This is down 997.8 percentage points from the same quarter a year earlier.

Gross Margin

Not reported for Q1 2026.

Operating Margin

Not reported for Q1 2026.

Net Margin

Not reported for Q1 2026.

Capital Allocation

R&D Spending

$3.9M

YoY-27.1%

GeoVax Labs, Inc. Warrants invested $3.9M in research and development in Q1 2026. This represents a decrease of 27.1% from the same quarter a year earlier.

Capital Expenditures

YoY-100.0%

QoQn/m

5Y CAGRn/m

GeoVax Labs, Inc. Warrants reported no capital expenditure in Q1 2026. This represents a decrease of 100.0% from the same quarter a year earlier. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.

Share Buybacks

Not reported for Q1 2026.

GOVXW 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.

GOVXW quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Revenue	N/A	$2.5M-37.1%	$4.0Mn/m	$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	-$21.6Mn/m	-$25.1Mn/m	-$26.7Mn/m	-$14.0Mn/m	-$18.7Mn/m	-$2.8Mn/m	-$2.4Mn/m	-$2.6Mn/m	-$2.2Mn/m	-$3.3Mn/m	-$2.7Mn/m	-$2.7Mn/m	-$2.3Mn/m	-$2.1Mn/m	-$2.3M
EBITDA	N/A	-$21.6Mn/m	-$25.0Mn/m	-$26.7Mn/m	-$14.0Mn/m	-$18.7Mn/m	-$2.8Mn/m	-$2.4Mn/m	-$2.5Mn/m	-$2.1Mn/m	-$3.2Mn/m	-$2.7Mn/m	-$2.7Mn/m	-$2.2Mn/m	-$2.0Mn/m	-$2.2M
Interest Expense	N/A	$0-100.0%	$21Kn/m	$0n/m	$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	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0
Net Income	N/A	-$21.5Mn/m	-$25.0Mn/m	-$26.0Mn/m	-$14.0Mn/m	-$18.6Mn/m	-$3.0Mn/m	-$2.4Mn/m	-$2.6Mn/m	-$2.2Mn/m	-$3.3Mn/m	-$2.7Mn/m	-$2.7Mn/m	-$2.3Mn/m	-$2.1Mn/m	-$2.3M
EPS (Basic)	N/A	-$22.40	-$120.46	-$14.29n/m	-$12.39n/m	-$3.04	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Revenue	$0-100.0%	N/A	$0-100.0%	$852K+183.5%	$1.6Mn/m	N/A	$2.8Mn/m	$301Kn/m
R&D Expenses	$3.9M-27.1%	N/A	$5.0M-31.9%	$4.7M+10.6%	$5.4M+21.0%	N/A	$7.4M+6.5%	$4.3M-9.4%
SG&A Expenses	$1.4M-18.8%	N/A	$1.3M+7.1%	$1.5M+42.0%	$1.7M+15.8%	N/A	$1.2M-24.9%	$1.1M-25.6%
Operating Income	-$5.3Mn/m	N/A	-$6.4Mn/m	-$5.4Mn/m	-$5.4Mn/m	N/A	-$5.9Mn/m	-$5.1Mn/m
EBITDA	-$5.3Mn/m	N/A	N/A	N/A	-$5.4Mn/m	N/A	N/A	N/A
Interest Expense	N/A	N/A	$0-100.0%	$0-100.0%	N/A	N/A	$14Kn/m	$7Kn/m
Income Tax	$0n/m	N/A	N/A	N/A	$0n/m	N/A	N/A	N/A
Net Income	-$5.3Mn/m	N/A	-$6.3Mn/m	-$5.4Mn/m	-$5.4Mn/m	N/A	-$5.8Mn/m	-$5.1Mn/m
EPS (Basic)	-$2.62	N/A	-$0.31	-$0.35	-$11.20	N/A	-$0.91	-$1.99

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

GOVXW Balance Sheet

GOVXW quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
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	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$0-100.0%	$659Kn/m	$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	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
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	$580Kn/m	$0n/m	$0n/m	$0-100.0%	$2.0M+13470.4%	$15K-45.9%	$27K-31.2%	$40Kn/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0
Total Equity	$3.8M-24.2%	$5.0M-12.4%	$5.8M-78.3%	$26.6M+509.9%	$4.4M-54.4%	$9.6Mn/m	-$1.6Mn/m	-$1.0Mn/m	-$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	-$150.8Mn/m	-$129.4Mn/m	-$104.4Mn/m	-$78.4Mn/m	-$64.4Mn/m	-$45.8Mn/m	-$42.8Mn/m	-$40.5Mn/m	-$37.9Mn/m	-$35.7Mn/m	-$32.5Mn/m	-$29.8M	N/A	N/A	N/A

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Total Assets	$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%	$4.1M-80.7%
Current Assets	$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%	$3.8M-80.6%
Cash & Equivalents	$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%	$1.6M-91.2%
Accounts Receivable	N/A	$0-100.0%	$0-100.0%	$533K+77.2%	$1.5M	$659Kn/m	$548K	$301K
Total Liabilities	$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%	$6.4M+56.8%
Current Liabilities	$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%	$6.4M+56.8%
Non-Current Liabilities	$197Kn/m	$580Kn/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m
Total Equity	$494K-93.7%	$3.8M-24.2%	$4.9M-42.3%	$2.8Mn/m	$7.9M+14451.9%	$5.0M-12.4%	$8.5M-6.7%	-$2.3M-113.5%
Retained Earnings	-$156.1Mn/m	-$150.8Mn/m	-$146.4Mn/m	-$140.1Mn/m	-$134.7Mn/m	-$129.4Mn/m	-$121.1Mn/m	-$115.3Mn/m

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

GOVXW Cash Flow Statement

GOVXW quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Operating Cash Flow	-$19.0M	-$21.5Mn/m	-$24.7Mn/m	-$25.2Mn/m	-$19.0Mn/m	-$11.2Mn/m	-$2.8Mn/m	-$1.4Mn/m	-$1.5Mn/m	-$1.7Mn/m	-$1.9Mn/m	-$2.7Mn/m	-$2.3Mn/m	-$1.7Mn/m	-$2.4Mn/m	-$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	$11K	$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	-$19.1M	-$21.5Mn/m	-$24.7Mn/m	-$25.2Mn/m	-$19.2Mn/m	-$11.2Mn/m	-$2.9Mn/m	-$1.4M	N/A	-$1.7M	N/A	-$2.7Mn/m	-$2.3Mn/m	-$1.8M	N/A	-$316K
Investing Cash Flow	-$11K	-$28Kn/m	-$21Kn/m	-$49Kn/m	-$134Kn/m	-$48Kn/m	-$157Kn/m	-$8K	N/A	-$4K	N/A	-$16Kn/m	-$36Kn/m	-$87K	N/A	-$12K
Financing Cash Flow	$12.9M	$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	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Operating Cash Flow	-$3.5Mn/m	-$5.0Mn/m	-$6.2Mn/m	-$4.3Mn/m	-$6.0Mn/m	-$7.8Mn/m	-$9.3Mn/m	-$1.9Mn/m
Depreciation & Amortization	$12K-28.6%	N/A	N/A	N/A	$17K-13.6%	N/A	N/A	N/A
Stock-Based Compensation	$219K-25.1%	N/A	N/A	N/A	$293K+85.6%	N/A	N/A	N/A
Capital Expenditures	$0-100.0%	$0n/m	$0-100.0%	$11Kn/m	$17Kn/m	$0-100.0%	$21K+233.5%	$0-100.0%
Free Cash Flow	-$3.5Mn/m	-$5.0Mn/m	-$6.2Mn/m	-$4.3Mn/m	-$6.0Mn/m	-$7.8Mn/m	-$9.3Mn/m	-$1.9Mn/m
Investing Cash Flow	$0n/m	$0n/m	$0n/m	-$11Kn/m	-$17Kn/m	$0n/m	-$21Kn/m	$0n/m
Financing Cash Flow	$1.7M-78.2%	$3.0M-34.9%	$8.1M-50.3%	$209-100.0%	$7.9Mn/m	$4.7M+14.9%	$16.3Mn/m	$2.7Mn/m

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

GOVXW 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.

GOVXW quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
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
Liabilities-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	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Operating Margin	N/A	N/A	N/A	-635.8%	-330.2%	N/A	-209.9%	-1683.6%
Net Margin	N/A	N/A	N/A	-630.1%	-327.3%	N/A	-208.5%	-1684.2%
Return on Equity	-1065.7%-997.8pp	N/A	-128.8%-60.4pp	-190.3%	-67.8%+10710.9pp	N/A	-68.4%+23.8pp	N/A
Return on Assets	-176.4%-127.0pp	N/A	-93.9%-41.5pp	-100.4%+23.3pp	-49.5%+124.8pp	N/A	-52.3%-0.4pp	-123.7%-95.8pp
Current Ratio	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	0.60-4.3x
Liabilities-to-Equity	5.04+4.7x	0.660.0x	0.37+0.1x	0.90	0.37-60.5x	0.620.0x	0.31-0.5x	N/A
Asset Turnover	0.00-0.2x	N/A	0.00-0.3x	0.16+0.1x	0.15+0.2x	N/A	0.25+0.3x	0.07+0.1x
FCF Margin	N/A	N/A	N/A	-509.8%	-365.5%	N/A	-334.0%	-645.6%

Not reported in any period shown, so not listed: Gross Margin, Debt-to-Equity.

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. Warrants GOVXW	FY2025	$2.5M	-$21.5M	N/A	N/A	51/100
Estrella Immunopharma, Inc. Warrant ESLAW	FY2025	N/A	-$13.1M	N/A	N/A	—

Where GeoVax Labs, Inc. Warrants Ranks

Frequently Asked Questions

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

GeoVax Labs, Inc. Warrants (GOVXW) 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. Warrants's revenue growing?

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

Is GeoVax Labs, Inc. Warrants profitable?

No, GeoVax Labs, Inc. Warrants (GOVXW) reported a net loss of $21.5M in fiscal year 2025.

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

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

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

GeoVax Labs, Inc. Warrants (GOVXW) 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. Warrants's free cash flow?

GeoVax Labs, Inc. Warrants (GOVXW) recorded an outflow of $21.5M in free cash flow during fiscal year 2025. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. 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. Warrants's operating cash flow?

GeoVax Labs, Inc. Warrants (GOVXW) 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. Warrants's total assets?

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

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

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

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

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

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

GeoVax Labs, Inc. Warrants (GOVXW) had 2M shares outstanding as of fiscal year 2025.

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

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

What is GeoVax Labs, Inc. Warrants's liabilities-to-equity ratio?

GeoVax Labs, Inc. Warrants (GOVXW) had a liabilities-to-equity ratio of 0.66 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity. No debt-to-equity ratio is shown for fiscal year 2025, because the filing data we hold for that year carries no long-term debt figure.

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

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

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

At the end of fiscal year 2025, GeoVax Labs, Inc. Warrants (GOVXW) 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. Warrants's Piotroski F-Score?

GeoVax Labs, Inc. Warrants (GOVXW) has a Piotroski F-Score of 1 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. Warrants's earnings high quality?

GeoVax Labs, Inc. Warrants (GOVXW) 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. Warrants?

GeoVax Labs, Inc. Warrants (GOVXW) scores 51 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is the average 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.