Gevo Reports First Quarter 2025 Financial Results
- Revenue increased $25 million YoY, with $23 million from Gevo North Dakota acquisition
- RNG revenue grew 42% YoY to $5.7 million
- Generated over 100,000 metric tons of carbon abatement in Q1
- Secured new offtake agreements for 15 million gallons of fuel annually
- Gevo North Dakota generated positive income from operations of $1.1 million
- Strong cash position of $134.9 million at quarter end
- Operating loss of $20.1 million in Q1
- Net loss per share of $0.09
- Interest expense increased $2.8 million YoY
- Interest and investment income decreased $2.8 million YoY
Insights
Gevo shows improved Q1 results with $25M revenue growth, progressing toward positive Adjusted EBITDA through strategic acquisitions and carbon capture initiatives.
Gevo's Q1 2025 financial results demonstrate meaningful progress in its transition from a development-stage company to a revenue-generating operation. The $25 million year-over-year revenue increase is particularly significant, primarily driven by the strategic acquisition of Red Trail Energy assets (now Gevo North Dakota) which contributed $23 million in just two months of operation.
The company's RNG (Renewable Natural Gas) segment continues to show promise with a 42% revenue increase to $5.7 million, benefiting from an improved carbon intensity score of -339 gCO2e/MJ from California's LCFS program. This negative CI score is exceptional and translates directly to higher value environmental credits.
Despite these improvements, Gevo still reported an operating loss of $20.1 million and an Adjusted EBITDA loss of $15.4 million for Q1. However, individual segments are showing profitability: Gevo North Dakota generated $1.1 million in operating income and $1.8 million in Adjusted EBITDA, while the RNG subsidiary produced $2.7 million in Adjusted EBITDA.
The balance sheet remains solid with $134.9 million in cash and equivalents, though this represents a reduction from previous quarters as capital was deployed for acquisitions and ongoing projects. The company's $0.09 loss per share represents an improvement over previous quarters.
What's particularly notable is Gevo's strategic pivot to monetize carbon abatement as a standalone product. The company generated over 100,000 metric tons of CO2 abatement in Q1, including 29,000 metric tons of captured and sequestered CO2 at their North Dakota facility. This positions them well to capitalize on Section 45Z tax credits and potentially achieve positive Adjusted EBITDA in 2025.
New offtake agreements for SAF (Sustainable Aviation Fuel) and carbon credits indicate growing market acceptance of Gevo's business model of separating fuel sales from emissions credits. Management's clear focus on cost discipline and pursuit of DOE financing for their ATJ-60 project, alongside development of a smaller, modular ATJ-30 plant with 50% capacity already sold, suggests a pragmatic approach to scaling their technology.
Quarterly Revenue Increased
Further Revenue and Adjusted EBITDA1 Growth is Expected in 2025
Gevo to Host Conference Call Today at 4:30 p.m. ET
ENGLEWOOD, Colo., May 13, 2025 (GLOBE NEWSWIRE) -- Gevo, Inc. (NASDAQ: GEVO) (“Gevo”, the “Company”, “we”, “us” or “our”), a leading developer of cost-effective, renewable hydrocarbon fuels and chemicals that also can deliver significant carbon emission abatement, today announced financial results for the first quarter ended March 31, 2025.
Recent Corporate Highlights: Continuing on a Path to Positive Adjusted EBITDA1
- Revenue and Adjusted EBITDA growth: Total operating revenue increased by approximately
$25 million in the first quarter of 2025 compared to the first quarter of 2024.- This increase was primarily driven by inorganic revenue growth of
$23 million during the last two months of the quarter from Gevo North Dakota (through the acquisition of substantially all of the assets of Red Trail Energy, LLC, which closed on January 31, 2025). Gevo’s consolidated financials for the first quarter of 2025 include Gevo North Dakota results for the two months of February and March 2025. - RNG total operating revenue increased by
$1.7 million , or42% , compared to the first quarter of 2024. This was primarily driven by receiving approval of a -339 gCO2e/MJ carbon intensity (“CI”) score for our RNG project from the California Air Resources Board (“CARB”) under their Low Carbon Fuel Standard (“LCFS”) program, partially offset by lower Renewable Identification Number (“RIN”) prices. - We expect further Adjusted EBITDA1 growth through the rest of 2025 as a result of the expected monetization of Section 45Z tax credits generated by our low-carbon ethanol and biogas facilities.
- Other revenue, including sales of isooctane and software services, also increased by
$0.6 million in the first quarter of 2025 compared to the first quarter of 2024.
- This increase was primarily driven by inorganic revenue growth of
- Carbon abatement, a new product that can be sold: Gevo is actively developing the customers and markets for voluntary carbon abatement. Our drop-in fuel products generated total carbon abatement (i.e., emissions sequestered, reduced or avoided by using renewable instead of fossil inputs) of over 100 thousand metric tons of CO2 in the first quarter of 2025.
- This carbon abatement includes captured and sequestered volume of approximately 29 thousand metric tons of CO2 at Gevo North Dakota during the two months of February and March 2025.
- During the same period, Gevo North Dakota produced approximately 11.1 million gallons of low-carbon ethanol at an estimated CI of 21 gCO2e/MJ, contributing approximately 47 thousand metric tons of carbon abatement.
- RNG had production of 79,963 MMBtu in the first quarter of 2025 and over 60,000 metric tons of carbon credits were generated in the California LCFS system.
_________________________
1 Adjusted EBITDA is a non-GAAP measure calculated by adding back depreciation and amortization, allocated intercompany expenses for shared service functions, non-cash stock-based compensation, and the change in fair value of derivative instruments to GAAP loss from operations as well as monetized tax credits, if any. A reconciliation of adjusted EBITDA to GAAP loss from operations is provided in the financial statement tables following this release. Adjusted EBITDA was referred to as “cash EBITDA” in previous periods.
- New offtake agreements for jet fuel and carbon abatement: In April 2025, Gevo signed a pioneering offtake agreement with Future Energy Global (“FEG”), under which FEG will acquire from Gevo the Scope 1 and Scope 3 emissions credits from 10 million gallons per year of fuel to be produced at one of our planned alcohol-to-jet (“ATJ”) facilities. Additionally, we entered into an agreement with a separate undisclosed party for an additional five million gallons per year of SAF, without the carbon value or Scope 1 and Scope 3 emissions credits attached. The carbon abatement for this additional 5 million gallons has been sold to a separate party, not the fuel buyer. Note that Scope 1 and Scope 3 emissions credits are in addition to, and separate from, state and federal compliance credits. These offtake agreements are expected to be useful for financing our ATJ projects in South Dakota or North Dakota.
- Verity: Verity is our wholly owned, data verification platform that enables traceable, audit-ready carbon abatement accounting across complex supply chains, supporting regulatory compliance and carbon market participation. In the first quarter of 2025, Verity announced agreements with two new customers, Landus and Minnesota Soybean Processors. These agreements provide access to those customers to track and verify sustainable agriculture attributes, while streamlining compliance reporting and auditability.
2025 First Quarter Financial Highlights
- Ended the first quarter with cash, cash equivalents and restricted cash of
$134.9 million . - Combined operating revenue and investment income was
$30.9 million for the first quarter.- On a standalone basis, our RNG subsidiary generated revenue of
$5.7 million during the first quarter of 2025. This reflects an increase of$1.7 million compared to the previous year, driven by increased LCFS credit generation due to our carbon score for the LCFS program, partially offset by reduced RIN prices.
- On a standalone basis, our RNG subsidiary generated revenue of
- Loss from operations of
$20.1 million for the first quarter. - Non-GAAP Adjusted EBITDA loss1 of
$15.4 million for the first quarter. - Sale of environmental attributes by our RNG subsidiary of
$5.4 million for the first quarter. - Gevo RNG generated income from operations of
$0.5 million , and non-GAAP Adjusted EBITDA1 of$2.7 million for the first quarter. - Gevo North Dakota generated income from operations of
$1.1 million , and non-GAAP Adjusted EBITDA1 of$1.8 million for the first quarter. - Net loss per share of
$0.09 for the first quarter.
Management Comment
Dr. Patrick Gruber, Gevo’s Chief Executive Officer, commented, “We believe we can get to positive Adjusted EBITDA this year for the company. This is in spite of the perceived headwinds and noise in the marketplace. We have real products to sell now that we own our North Dakota plant. Gevo North Dakota produces ethanol, animal feed, corn oil, and importantly, carbon abatement. The carbon abatement value is generated by capturing CO2 and sending it more than a mile underground into what we think is the best well (or sequestration site) in the country. Having this carbon abatement available to us has opened up new doors in the marketplace as customers and partners don’t have to wait around for synthetic aviation fuel (“SAF”) projects to be built to start developing the market in a real sense. We have approval from the Internal Revenue Service to apply for the Section 45Z tax credit, so we will do that, and that should help meet our Adjusted EBITDA goals.”
Dr. Gruber continued, “We continue to believe that SAF offers an excellent market opportunity. We see that jet fuel demand, beyond SAF, is expected to grow. We continue to believe that alcohol-to-jet offers the most scalable and lowest cost of production route. We need to get plants financed and deployed. To that end, we are doing a few things. First, we continue to be engaged with the U.S. Department of Energy on financing our ATJ-60 project, which we believe advances the stated objectives of the White House to produce more home-made energy including ethanol, biofuels and jet fuel. Second, we are translating the designs and engineering from the ATJ-60 to deploy an ATJ plant that can produce 30 million gallons per year of jet fuel at our Gevo North Dakota site (“ATJ-30”). We expect that this ATJ-30 plant will be near-fully modularized to minimize cost, construction, and start-up risks, and be able to be deployed sooner than or on a similar timeframe as ATJ-60. We already have more than
“Unlike other companies in the ATJ space,” Dr. Gruber added, “we are using tried and true, proven at scale, unit operations to produce jet fuel. We figured out how to optimize them, integrate them, and make the jet fuel product in extremely high yield, with low production cost and a very low CI score. We have more than 100 patents covering the business system and technologies for ethanol to jet fuel and other hydrocarbons. We are pleased that Axens, who is the preeminent supplier of the various unit operations needed to make jet fuel from ethylene, including winning a Nobel prize for the trickiest step, has taken a license from Gevo for advanced ATJ processes. We are continuing to strengthen our partnership with Axens.”
“We are also aligning our strategic goals with fiscal discipline measures that should further enable our conservation of cash and realization of our target Adjusted EBITDA growth and strong fiscal year performance.”
Dr. Gruber concluded, “I like our position: we have operating assets that contribute Adjusted EBITDA, we have mature jet fuel projects, we have one of the few operating carbon capture and sequestration operations, we are developing markets with advanced carbon sequestration operations, we have a terrific site in North Dakota to build out capacity for jet fuel and other products, and we have a strong proprietary position given our patents and know-how.”
2025 First Quarter Financial Results
Operating revenue. During the three months ended March 31, 2025, operating revenue increased by
Cost of production. Cost of production increased
Depreciation and amortization. Depreciation and amortization increased
Research and development expense. Research and development expenses decreased
General and administrative expense. General and administrative expense decreased
Project development costs. Project development costs are primarily related to our ATJ projects and Verity, which consist primarily of employee expenses, preliminary engineering costs, and technical consulting fees. Project development costs decreased
Acquisition related costs. Acquisition related costs of
Facility idling costs. Facility idling costs are related to the care and maintenance of our Luverne Facility and reprocessing plant. Facility idling costs decreased
Loss from operations. The Company’s loss from operations decreased by
Interest expense. Interest expense increased
Interest and investment income. Interest and investment income decreased
Other income (expense), net. Other income (expense), net remained flat for the three months ended March 31, 2025, compared to the three months ended March 31, 2024.
Webcast and Conference Call Information
Hosting today’s conference call at 4:30 p.m. ET will be Dr. Patrick R. Gruber, Chief Executive Officer, Dr. Chris Ryan, President and Chief Operating Officer, L. Lynn Smull, Chief Financial Officer, Dr. Paul Bloom, Chief Business Officer and Dr. Eric Frey, Vice President of Finance and Strategy. They will review Gevo’s financial results and provide an update on recent corporate highlights.
To participate in the live call, please register through the following event weblink: https://register-conf.media-server.com/register/BI14d4db26011d45b9871ce05b8b3c5a63. After registering, participants will be provided with a dial-in number and pin.
To listen to the conference call (audio only), please register through the following event weblink: https://edge.media-server.com/mmc/p/xd9v2i3x.
A webcast replay will be available two hours after the conference call ends on May 13, 2025. The archived webcast will be available in the Investor Relations section of Gevo’s website at www.gevo.com.
About Gevo
Gevo is a next-generation diversified energy company committed to fueling America’s future with cost-effective, drop-in fuels that contribute to energy security, abate carbon, and strengthen rural communities to drive economic growth. Gevo’s innovative technology can be used to make a variety of renewable products, including SAF, motor fuels, chemicals, and other materials that provide U.S.-made solutions. By investing in the backbone of rural America, Gevo’s business model includes developing, financing, and operating production facilities that create jobs and revitalize communities. Gevo owns and operates one of the largest dairy-based RNG facilities in the United States, turning by-products into clean, reliable energy. We also operate an ethanol plant with an adjacent CCS facility, further solidifying America’s leadership in energy innovation. Additionally, Gevo owns the world’s first production facility for specialty ATJ fuels and chemicals. Gevo’s market-driven “pay for performance” approach regarding carbon and other sustainability attributes, helps ensure value is delivered to our local economy. Through its Verity subsidiary, Gevo provides transparency, accountability, and efficiency in tracking, measuring and verifying various attributes throughout the supply chain. By strengthening rural economies, Gevo is working to secure a self-sufficient future and to make sure value is brought to the market.
For more information, see www.gevo.com.
Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, including, without limitation, the financing and the timing of our ATJ-60 project, our ATJ-30 project, our financial condition, our results of operation and liquidity, our business plans, our business development activities, financial projections related to our business, our RNG project, our sales agreements, our plans to develop our business, our ability to successfully develop, construct, and finance our operations and growth projects, our ability to achieve cash flow from our planned projects, the ability of our products to contribute to lower greenhouse gas emissions, particulate and sulfur pollution, and other statements that are not purely statements of historical fact. These forward-looking statements are made based on the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in our most recent Annual Report on Form 10-K and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.
Non-GAAP Financial Information
This press release contains a financial measure that does not comply with U.S. generally accepted accounting principles (“GAAP”), including non-GAAP adjusted EBITDA. Non-GAAP adjusted EBITDA excludes depreciation and amortization, allocated intercompany expenses for shared service functions, and non-cash stock-based compensation from GAAP loss from operations. Management believes this measure is useful to supplement its GAAP financial statements with this non-GAAP information because management uses such information internally for its operating, budgeting and financial planning purposes. This non-GAAP financial measure also facilitates management’s internal comparisons to Gevo’s historical performance as well as comparisons to the operating results of other companies. In addition, Gevo believes this non-GAAP financial measure is useful to investors because it allows for greater transparency into the indicators used by management as a basis for its financial and operational decision making. Non-GAAP information is not prepared under a comprehensive set of accounting rules and therefore, should only be read in conjunction with financial information reported under U.S. GAAP when understanding Gevo’s operating performance. A reconciliation between GAAP and non-GAAP financial information is provided below.
Gevo, Inc.
Condensed Consolidated Balance Sheets
(In thousands, except share and per share amounts)
| March 31, 2025 | December 31, 2024 | ||||||
| Assets | |||||||
| Current assets | |||||||
| Cash and cash equivalents | $ | 65,288 | $ | 189,389 | |||
| Restricted cash | 1,489 | 1,489 | |||||
| Trade accounts receivable, net | 11,746 | 2,411 | |||||
| Inventories | 16,787 | 4,502 | |||||
| Prepaid expenses and other current assets | 8,545 | 5,920 | |||||
| Total current assets | 103,855 | 203,711 | |||||
| Property, plant and equipment, net | 339,070 | 221,642 | |||||
| Restricted cash | 68,155 | 68,155 | |||||
| Operating right-of-use assets | 2,283 | 1,064 | |||||
| Finance right-of-use assets | 1,540 | 1,877 | |||||
| Intangible assets, net | 52,113 | 8,129 | |||||
| Goodwill | 41,605 | 3,740 | |||||
| Deposits and other assets | 69,179 | 75,623 | |||||
| Total assets | $ | 677,800 | $ | 583,941 | |||
| Liabilities | |||||||
| Current liabilities | |||||||
| Accounts payable and accrued liabilities | $ | 28,770 | $ | 22,006 | |||
| Operating lease liabilities | 692 | 333 | |||||
| Finance lease liabilities | 1,610 | 2,001 | |||||
| Loans payable | 19,925 | 21 | |||||
| Total current liabilities | 50,997 | 24,361 | |||||
| Remarketed Bonds payable, net | 67,317 | 67,109 | |||||
| Loans payable | 79,773 | — | |||||
| Operating lease liabilities | 1,840 | 966 | |||||
| Finance lease liabilities | 210 | 187 | |||||
| Asset retirement obligation | 2,142 | — | |||||
| Other long-term liabilities | 729 | 1,830 | |||||
| Total liabilities | 203,008 | 94,453 | |||||
| Redeemable non-controlling interest | 4,955 | — | |||||
| Equity | |||||||
| Common stock, | 2,396 | 2,392 | |||||
| Additional paid-in capital | 1,289,406 | 1,287,333 | |||||
| Accumulated deficit | (821,965 | ) | (800,237 | ) | |||
| Total stockholders' equity | 469,837 | 489,488 | |||||
| Total liabilities and stockholders' equity | $ | 677,800 | $ | 583,941 | |||
Gevo, Inc.
Condensed Consolidated Statements of Operations
(In thousands, except share and per share amounts)
| Three Months Ended March 31, | |||||||
| 2025 | 2024 | ||||||
| Total operating revenues | $ | 29,109 | $ | 3,990 | |||
| Operating expenses: | |||||||
| Cost of production | 21,446 | 2,587 | |||||
| Depreciation and amortization | 5,622 | 4,451 | |||||
| Research and development expense | 1,052 | 1,548 | |||||
| General and administrative expense | 11,084 | 12,150 | |||||
| Project development costs | 5,002 | 5,319 | |||||
| Acquisition related costs | 4,438 | — | |||||
| Facility idling costs | 604 | 1,076 | |||||
| Total operating expenses | 49,248 | 27,131 | |||||
| Loss from operations | (20,139 | ) | (23,141 | ) | |||
| Other (expense) income | |||||||
| Interest expense | (3,294 | ) | (542 | ) | |||
| Interest and investment income | 1,770 | 4,593 | |||||
| Other (expense) income, net | (110 | ) | 215 | ||||
| Total other (expense) income, net | (1,634 | ) | 4,266 | ||||
| Net loss | (21,773 | ) | (18,875 | ) | |||
| Net loss attributable to non-controlling interest | (45 | ) | — | ||||
| Net loss attributable to Gevo, Inc. | $ | (21,728 | ) | $ | (18,875 | ) | |
| Net loss per share - basic and diluted | $ | (0.09 | ) | $ | (0.08 | ) | |
| Weighted-average number of common shares outstanding - basic and diluted | 232,027,993 | 240,844,334 | |||||
Gevo, Inc.
Condensed Consolidated Statements of Stockholders’ Equity
(In thousands, except share amounts)
| For the Three Months Ended March 31, 2025 and 2024 | |||||||||||||||||||
| Common Stock | Accumulated | Stockholders’ | |||||||||||||||||
| Shares | Amount | Paid-In Capital | Deficit | Equity | |||||||||||||||
| Balance, December 31, 2024 | 239,176,293 | $ | 2,392 | $ | 1,287,333 | $ | (800,237 | ) | $ | 489,488 | |||||||||
| Non-cash stock-based compensation | — | — | 1,898 | — | 1,898 | ||||||||||||||
| Stock-based awards and related share issuances, net | 386,702 | 4 | 175 | — | 179 | ||||||||||||||
| Net loss | — | — | — | (21,728 | ) | (21,728 | ) | ||||||||||||
| Balance, March 31, 2025 | 239,562,995 | $ | 2,396 | $ | 1,289,406 | $ | (821,965 | ) | $ | 469,837 | |||||||||
| Balance, December 31, 2023 | 240,499,833 | $ | 2,405 | $ | 1,276,581 | $ | (721,597 | ) | $ | 557,389 | |||||||||
| Non-cash stock-based compensation | — | — | 4,233 | — | 4,233 | ||||||||||||||
| Stock-based awards and related share issuances, net | 1,204,232 | 12 | 583 | — | 595 | ||||||||||||||
| Repurchase of common stock | (2,127,661 | ) | (21 | ) | (1,376 | ) | — | (1,397 | ) | ||||||||||
| Net loss | — | — | — | (18,875 | ) | (18,875 | ) | ||||||||||||
| Balance, March 31, 2024 | 239,576,404 | $ | 2,396 | $ | 1,280,021 | $ | (740,472 | ) | $ | 541,945 | |||||||||
Gevo, Inc.
Condensed Consolidated Statements of Cash Flows
(In thousands)
| Three Months Ended March 31, | |||||||
| 2025 | 2024 | ||||||
| Operating Activities | |||||||
| Net loss | $ | (21,773 | ) | $ | (18,875 | ) | |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||||||
| Stock-based compensation | 1,898 | 4,233 | |||||
| Depreciation and amortization | 5,622 | 4,451 | |||||
| Change in fair value of derivative instruments | (2,732 | ) | — | ||||
| Other non-cash (income) expense | 1,004 | 656 | |||||
| Changes in operating assets and liabilities, net of effects of acquisition: | |||||||
| Accounts receivable | (4,355 | ) | 135 | ||||
| Inventories | (1,045 | ) | (55 | ) | |||
| Prepaid expenses and other current assets, deposits and other assets | (2,264 | ) | (3,297 | ) | |||
| Accounts payable, accrued expenses and non-current liabilities | (403 | ) | (3,326 | ) | |||
| Net cash used in operating activities | (24,048 | ) | (16,078 | ) | |||
| Investing Activities | |||||||
| Acquisitions of property, plant and equipment | (5,834 | ) | (17,512 | ) | |||
| Acquisition of Red Trail Energy | (198,461 | ) | - | ||||
| Net cash used in investing activities | (204,295 | ) | (17,512 | ) | |||
| Financing Activities | |||||||
| OIC loan proceeds | 105,000 | — | |||||
| Payment of debt issuance costs | (5,480 | ) | — | ||||
| Non-controlling interest | 5,000 | — | |||||
| Proceeds from the exercise of stock options | 179 | — | |||||
| Payment of loans payable | — | (32 | ) | ||||
| Payment of finance lease liabilities | (457 | ) | (23 | ) | |||
| Repurchases of common stock | — | (1,397 | ) | ||||
| Net cash provided by (used in) financing activities | 104,242 | (1,452 | ) | ||||
| Net decrease in cash and cash equivalents | (124,101 | ) | (35,042 | ) | |||
| Cash, cash equivalents and restricted cash at beginning of period | 259,033 | 375,597 | |||||
| Cash, cash equivalents and restricted cash at end of period | $ | 134,932 | $ | 340,555 | |||
Gevo, Inc.
Reconciliation of GAAP to Non-GAAP Financial Information
(In thousands)
| Three Months Ended March 31, | |||||||
| 2025 | 2024 | ||||||
| Non-GAAP Adjusted EBITDA (Consolidated): | |||||||
| Loss from operations | $ | (20,139 | ) | $ | (23,141 | ) | |
| Depreciation and amortization | 5,622 | 4,451 | |||||
| Stock-based compensation | 1,898 | 4,233 | |||||
| Change in fair value of derivative instruments | (2,732 | ) | — | ||||
| Non-GAAP adjusted EBITDA (loss) (Consolidated) | $ | (15,351 | ) | $ | (14,457 | ) | |
| Three Months Ended March 31, 2025 | |||||||||||||||||||
| Gevo | GevoFuels | GevoRNG | GevoND | Consolidated | |||||||||||||||
| Non-GAAP Adjusted EBITDA (Consolidated): | |||||||||||||||||||
| (Loss) income from operations | $ | (20,984 | ) | $ | (724 | ) | $ | 469 | $ | 1,100 | $ | (20,139 | ) | ||||||
| Depreciation and amortization | 747 | — | 1,403 | 3,472 | 5,622 | ||||||||||||||
| Allocated intercompany expenses for shared service functions | (890 | ) | — | 890 | — | — | |||||||||||||
| Stock-based compensation | 1,937 | — | (39 | ) | — | 1,898 | |||||||||||||
| Change in fair value of derivative instruments | — | — | — | (2,732 | ) | (2,732 | ) | ||||||||||||
| Non-GAAP adjusted EBITDA (loss) (Consolidated) | $ | (19,190 | ) | $ | (724 | ) | $ | 2,723 | $ | 1,840 | $ | (15,351 | ) | ||||||
| Three Months Ended March 31, 2024 | |||||||||||||||
| Gevo | GevoFuels | GevoRNG | Consolidated | ||||||||||||
| Non-GAAP Adjusted EBITDA (Consolidated): | |||||||||||||||
| Loss from operations | $ | (20,126 | ) | $ | (1,010 | ) | $ | (2,005 | ) | $ | (23,141 | ) | |||
| Depreciation and amortization | 3,077 | — | 1,374 | 4,451 | |||||||||||
| Allocated intercompany expenses for shared service functions | (890 | ) | — | 890 | — | ||||||||||
| Stock-based compensation | 4,199 | — | 34 | 4,233 | |||||||||||
| Non-GAAP adjusted EBITDA (loss) (Consolidated) | $ | (13,740 | ) | $ | (1,010 | ) | $ | 293 | $ | (14,457 | ) | ||||
Media Contact
Heather Manuel
Vice President of Stakeholder Engagement & Partnerships
PR@gevo.com
Investor Contact
Eric Frey, PhD
Vice President of Finance and Strategy
IR@Gevo.com
FAQ
What were Gevo's (GEVO) key financial results for Q1 2025?
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