Gevo Reports Fourth Quarter 2024 Financial Results and Reaffirms Business Update
Gevo Inc (NASDAQ: GEVO) released its Q4 and full-year 2024 financial results. The company ended Q4 with $259.0 million in cash and equivalents. Combined operating revenue and investment income reached $8.9 million for Q4 and $32.7 million for full-year 2024.
The RNG subsidiary generated revenue of $15.8 million in 2024, showing a modest increase of $0.3 million year-over-year. Q4 results included a loss from operations of $19.6 million, non-GAAP adjusted EBITDA loss of $11.3 million, and environmental attributes sales of $5.4 million. The RNG subsidiary specifically posted a Q4 operational loss of $3.5 million but achieved a non-GAAP adjusted EBITDA profit of $2.7 million.
Net loss per share for Q4 was $0.08. The company anticipates receiving final pathway approval under the LCFS Program in Q1 2025, expected to result in a lower CI score.
Gevo Inc (NASDAQ: GEVO) ha pubblicato i risultati finanziari del quarto trimestre e dell'intero anno 2024. L'azienda ha concluso il quarto trimestre con 259,0 milioni di dollari in contante e equivalenti. I ricavi operativi combinati e i redditi da investimenti hanno raggiunto 8,9 milioni di dollari per il quarto trimestre e 32,7 milioni di dollari per l'intero anno 2024.
La sussidiaria RNG ha generato ricavi di 15,8 milioni di dollari nel 2024, mostrando un modesto incremento di 0,3 milioni di dollari rispetto all'anno precedente. I risultati del quarto trimestre hanno incluso una perdita operativa di 19,6 milioni di dollari, una perdita di EBITDA rettificato non-GAAP di 11,3 milioni di dollari e vendite di attributi ambientali di 5,4 milioni di dollari. La sussidiaria RNG ha registrato specificamente una perdita operativa nel quarto trimestre di 3,5 milioni di dollari, ma ha ottenuto un profitto di EBITDA rettificato non-GAAP di 2,7 milioni di dollari.
La perdita netta per azione per il quarto trimestre è stata di 0,08 dollari. L'azienda prevede di ricevere l'approvazione finale del percorso nell'ambito del Programma LCFS nel primo trimestre del 2025, il che dovrebbe portare a un punteggio CI più basso.
Gevo Inc (NASDAQ: GEVO) publicó sus resultados financieros del cuarto trimestre y del año completo 2024. La compañía terminó el cuarto trimestre con 259,0 millones de dólares en efectivo y equivalentes. Los ingresos operativos combinados y los ingresos por inversiones alcanzaron 8,9 millones de dólares para el cuarto trimestre y 32,7 millones de dólares para el año completo 2024.
La subsidiaria RNG generó ingresos de 15,8 millones de dólares en 2024, mostrando un modesto aumento de 0,3 millones de dólares en comparación con el año anterior. Los resultados del cuarto trimestre incluyeron una pérdida de operaciones de 19,6 millones de dólares, una pérdida de EBITDA ajustado no-GAAP de 11,3 millones de dólares y ventas de atributos ambientales de 5,4 millones de dólares. La subsidiaria RNG reportó específicamente una pérdida operativa en el cuarto trimestre de 3,5 millones de dólares, pero logró un beneficio de EBITDA ajustado no-GAAP de 2,7 millones de dólares.
La pérdida neta por acción para el cuarto trimestre fue de 0,08 dólares. La compañía anticipa recibir la aprobación final del camino bajo el Programa LCFS en el primer trimestre de 2025, lo que se espera que resulte en un puntaje de CI más bajo.
Gevo Inc (NASDAQ: GEVO)는 2024년 4분기 및 연간 재무 결과를 발표했습니다. 회사는 4분기를 2억 5,900만 달러의 현금 및 현금성 자산으로 마감했습니다. 결합 운영 수익 및 투자 수익은 4분기에 890만 달러, 2024년 전체에 대해 3,270만 달러에 도달했습니다.
RNG 자회사는 2024년에 1,580만 달러의 수익을 창출하며 전년 대비 30만 달러의 소폭 증가를 보였습니다. 4분기 결과에는 1,960만 달러의 운영 손실, 비-GAAP 조정 EBITDA 손실 1,130만 달러, 환경 속성 판매 540만 달러가 포함되었습니다. RNG 자회사는 4분기 운영 손실 350만 달러를 기록했지만 비-GAAP 조정 EBITDA 이익 270만 달러를 달성했습니다.
4분기 주당 순손실은 0.08 달러였습니다. 회사는 2025년 1분기 LCFS 프로그램에 따른 최종 경로 승인을 받을 것으로 예상하며, 이는 낮은 CI 점수로 이어질 것으로 보입니다.
Gevo Inc (NASDAQ: GEVO) a publié ses résultats financiers pour le quatrième trimestre et l'année complète 2024. L'entreprise a terminé le quatrième trimestre avec 259,0 millions de dollars en espèces et équivalents. Les revenus d'exploitation combinés et les revenus d'investissement ont atteint 8,9 millions de dollars pour le quatrième trimestre et 32,7 millions de dollars pour l'année complète 2024.
La filiale RNG a généré des revenus de 15,8 millions de dollars en 2024, affichant une modeste augmentation de 0,3 million de dollars par rapport à l'année précédente. Les résultats du quatrième trimestre comprenaient une perte d'exploitation de 19,6 millions de dollars, une perte d'EBITDA ajusté non-GAAP de 11,3 millions de dollars et des ventes d'attributs environnementaux de 5,4 millions de dollars. La filiale RNG a spécifiquement enregistré une perte opérationnelle de 3,5 millions de dollars au quatrième trimestre, mais a réalisé un bénéfice d'EBITDA ajusté non-GAAP de 2,7 millions de dollars.
La perte nette par action pour le quatrième trimestre était de 0,08 dollar. L'entreprise s'attend à recevoir l'approbation finale du parcours dans le cadre du programme LCFS au premier trimestre 2025, ce qui devrait se traduire par un score CI plus bas.
Gevo Inc (NASDAQ: GEVO) hat seine finanziellen Ergebnisse für das vierte Quartal und das Gesamtjahr 2024 veröffentlicht. Das Unternehmen schloss das vierte Quartal mit 259,0 Millionen Dollar in bar und liquiden Mitteln ab. Die kombinierten Betriebseinnahmen und Erträge aus Investitionen beliefen sich im vierten Quartal auf 8,9 Millionen Dollar und für das Gesamtjahr 2024 auf 32,7 Millionen Dollar.
Die RNG-Tochtergesellschaft erzielte im Jahr 2024 Einnahmen von 15,8 Millionen Dollar, was einem moderaten Anstieg von 0,3 Millionen Dollar im Vergleich zum Vorjahr entspricht. Die Ergebnisse des vierten Quartals umfassten einen Betriebsverlust von 19,6 Millionen Dollar, einen Verlust von 11,3 Millionen Dollar beim nicht-GAAP bereinigten EBITDA sowie den Verkauf von Umweltattributen in Höhe von 5,4 Millionen Dollar. Die RNG-Tochtergesellschaft verzeichnete im vierten Quartal einen operativen Verlust von 3,5 Millionen Dollar, erzielte jedoch einen Gewinn von 2,7 Millionen Dollar beim nicht-GAAP bereinigten EBITDA.
Der Nettoverlust pro Aktie für das vierte Quartal betrug 0,08 Dollar. Das Unternehmen erwartet, im ersten Quartal 2025 die endgültige Genehmigung des Weges im Rahmen des LCFS-Programms zu erhalten, was voraussichtlich zu einem niedrigeren CI-Score führen wird.
- Strong cash position of $259.0 million at quarter-end
- RNG subsidiary achieved positive adjusted EBITDA of $2.7 million in Q4
- RNG revenue increased by $0.3 million year-over-year
- Operating loss increased by $9.0 million year-over-year
- Q4 loss from operations of $19.6 million
- Interest income decreased by $3.4 million due to cash usage for capital projects
- General and administrative expenses increased by $3.2 million
- Project development costs increased by $3.4 million
Insights
Gevo's Q4 2024 results reveal concerning operational trends despite a strong cash position of
Their RNG subsidiary shows mixed results – generating
The anticipated lower CI score from the LCFS Program could improve environmental attribute values in 2025, but this remains speculative until final pathway approval. Meanwhile, the company faces rising costs – general and administrative expenses increased by
Gevo's core challenge remains clear: despite generating
Gevo to Host Conference Call Today at 4:30 p.m. ET
ENGLEWOOD, Colo., March 27, 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 with reduced greenhouse gas emissions, today announced financial results for the fourth quarter and full year ended December 31, 2024, and reaffirmed the Business Update that was released on March 7, 2025 (the “Business Update”), which is available on our website at https://investors.gevo.com/news-releases/news-release-details/gevo-provides-business-update-1.
2024 Fourth Quarter Financial Highlights
- Ended the fourth quarter with cash, cash equivalents and restricted cash of
$259.0 million . - Combined operating revenue and investment income was
$8.9 million and$32.7 million for the fourth quarter and full year 2024, respectively.- On a standalone basis, our RNG subsidiary generated revenue of
$15.8 million during the year ended December 31, 2024. This reflects an increase of$0.3 million compared to the previous year, primarily due to higher sales of environmental attributes from our RNG project. We expect a lower CI score in anticipation of receiving the final pathway approval under the LCFS Program, which is anticipated in the first quarter of 2025.
- On a standalone basis, our RNG subsidiary generated revenue of
- Loss from operations of
$19.6 million for the fourth quarter. - Non-GAAP adjusted EBITDA loss1 of
$11.3 million for the fourth quarter. - Sale of environment attributes net of
$5.4 million for the fourth quarter. - RNG subsidiary generated a loss from operations of
$3.5 million , and non-GAAP adjusted EBITDA profit1 of$2.7 million for the fourth quarter. - Net loss per share of $.08 for the fourth quarter.
1 Adjusted EBITDA is a non-GAAP measure calculated by adding back depreciation and amortization, allocated intercompany expenses for shared service functions, and non-cash stock-based compensation to GAAP loss from operations. 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.
2024 Fourth Quarter Financial Results
Operating revenue. During 2024, operating revenue decreased
Cost of production. Cost of production remained consistent during 2024, compared to the prior year.
Depreciation and amortization. Depreciation and amortization, which includes depreciation and amortization which was allocated to inventory and is included in depreciation and amortization upon the sale of the associated inventory, decreased
Research and development expense. Research and development expense decreased
General and administrative expense. General and administrative expense increased
Project development costs. Project development costs are related to our future Alcohol-to-Jet Projects and Verity and consist primarily of employee expenses, preliminary engineering costs, and technical consulting costs. Project development costs increased
Acquisition related costs. Certain acquisition costs incurred related to the Red Trail Purchase Agreement during the year ended December 31, 2024.
Facility idling costs. Facility idling costs are related to care and maintenance of our Luverne Facility. Facility idling costs decreased by
Loss from operations. The Company’s loss from operations increased by
Interest expense. Interest expense increased by
Interest and investment income. Interest and investment income decreased
Other income. Other income increased
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, L. Lynn Smull, Chief Financial Officer, Dr. Paul Bloom, Chief Business Officer and Dr. Eric Frey, Vice President of Corporate Development. 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.vevent.com/register/BIfe02700a31384d12946e60bf35964cb8. 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/h9wkbjf5.
A webcast replay will be available two hours after the conference call ends on March 27, 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 and the Business Update 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 NZ1 project, the agreement with LG Chem, the DOE loan guarantee process, the Red Trail Energy acquisition and timing of its closing, the successful integration of the CultivateAI acquisition, the success and revenue of Verity, the success of our ETO business, our financial condition, our results of operation and liquidity, our business plans, our business development activities, our Alcohol-to-Jet Projects, financial projections related to our business, our RNG project, our fuel 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) | ||||||||
| December 31, 2024 | December 31, 2023 | |||||||
| Assets | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 189,389 | $ | 298,349 | ||||
| Restricted cash | 1,489 | 77,248 | ||||||
| Trade accounts receivable, net | 2,411 | 2,623 | ||||||
| Inventories | 4,502 | 3,809 | ||||||
| Prepaid expenses and other current assets | 5,920 | 4,353 | ||||||
| Total current assets | 203,711 | 386,382 | ||||||
| Property, plant and equipment, net | 221,642 | 211,563 | ||||||
| Restricted cash | 68,155 | — | ||||||
| Operating right-of-use assets | 1,064 | 1,324 | ||||||
| Finance right-of-use assets | 1,877 | 210 | ||||||
| Intangible assets, net | 8,129 | 6,524 | ||||||
| Goodwill | 3,740 | — | ||||||
| Deposits and other assets | 75,623 | 44,319 | ||||||
| Total assets | $ | 583,941 | $ | 650,322 | ||||
| Liabilities | ||||||||
| Current liabilities | ||||||||
| Accounts payable and accrued liabilities | $ | 22,006 | $ | 22,752 | ||||
| Operating lease liabilities | 333 | 532 | ||||||
| Finance lease liabilities | 2,001 | 45 | ||||||
| Loans payable | 21 | 130 | ||||||
| 2021 Bonds payable, net | — | 67,967 | ||||||
| Total current liabilities | 24,361 | 91,426 | ||||||
| Remarketed Bonds payable, net | 67,109 | — | ||||||
| Loans payable | — | 21 | ||||||
| Operating lease liabilities | 966 | 1,299 | ||||||
| Finance lease liabilities | 187 | 187 | ||||||
| Other long-term liabilities | 1,830 | — | ||||||
| Total liabilities | 94,453 | 92,933 | ||||||
| Commitments and Contingencies | ||||||||
| Stockholders' Equity | ||||||||
| Common stock, | 2,392 | 2,405 | ||||||
| Additional paid-in capital | 1,287,333 | 1,276,581 | ||||||
| Accumulated deficit | (800,237 | ) | (721,597 | ) | ||||
| Total stockholders' equity | 489,488 | 557,389 | ||||||
| Total liabilities and stockholders' equity | $ | 583,941 | $ | 650,322 | ||||
| Gevo, Inc. Condensed Consolidated Statements of Operations (In thousands, except share and per share amounts) | ||||||||
| Year Ended December 31, | ||||||||
| 2024 | 2023 | |||||||
| Total operating revenues | $ | 16,915 | $ | 17,200 | ||||
| Operating expenses: | ||||||||
| Cost of production | 12,002 | 11,991 | ||||||
| Depreciation and amortization | 18,298 | 19,007 | ||||||
| Research and development expense | 5,576 | 6,637 | ||||||
| General and administrative expense | 45,798 | 42,628 | ||||||
| Project development costs | 18,166 | 14,732 | ||||||
| Acquisition related costs | 4,932 | — | ||||||
| Facility idling costs | 2,967 | 4,040 | ||||||
| Total operating expenses | 107,739 | 99,035 | ||||||
| Loss from operations | (90,824 | ) | (81,835 | ) | ||||
| Other income (expense) | ||||||||
| Interest expense | (3,879 | ) | (2,161 | ) | ||||
| Interest and investment income | 15,740 | 19,090 | ||||||
| Other income (expense), net | 323 | (1,309 | ) | |||||
| Total other income, net | 12,184 | 15,620 | ||||||
| Net loss | $ | (78,640 | ) | $ | (66,215 | ) | ||
| Net loss per share - basic and diluted | $ | (0.34 | ) | $ | (0.28 | ) | ||
| Weighted-average number of common shares outstanding - basic and diluted | 231,674,716 | 238,687,621 | ||||||
| Gevo, Inc. Condensed Consolidated Statements of Comprehensive Loss (In thousands) | ||||||||
| Year Ended December 31, | ||||||||
| 2024 | 2023 | |||||||
| Net loss | $ | (78,640 | ) | $ | (66,215 | ) | ||
| Other comprehensive income: | ||||||||
| Unrealized gain on available-for-sale securities | — | 1,040 | ||||||
| Comprehensive loss | $ | (78,640 | ) | $ | (65,175 | ) | ||
| Gevo, Inc. Condensed Consolidated Statements of Stockholders’ Equity (In thousands, except share amounts) | |||||||||||||||||||||||
| For the Year Ended December 31, 2024 and 2023 | |||||||||||||||||||||||
| Common Stock | Accumulated Other | Accumulated | Stockholders’ | ||||||||||||||||||||
| Shares | Amount | Paid-In Capital | Comprehensive Loss | Deficit | Equity | ||||||||||||||||||
| Balance, December 31, 2023 | 240,499,833 | $ | 2,405 | $ | 1,276,581 | $ | — | $ | (721,597 | ) | $ | 557,389 | |||||||||||
| Non-cash stock-based compensation | — | — | 14,847 | — | — | 14,847 | |||||||||||||||||
| Stock-based awards and related share issuances, net | 5,784,668 | 58 | 495 | — | — | 553 | |||||||||||||||||
| Repurchase of common stock | (7,190,006 | ) | (72 | ) | (4,638 | ) | — | — | (4,710 | ) | |||||||||||||
| Issuance of common stock upon exercise of warrants | 81,798 | 1 | 48 | — | — | 49 | |||||||||||||||||
| Net loss | — | — | — | — | (78,640 | ) | (78,640 | ) | |||||||||||||||
| Balance, December 31, 2024 | 239,176,293 | $ | 2,392 | $ | 1,287,333 | $ | — | $ | (800,237 | ) | $ | 489,488 | |||||||||||
| Balance, December 31, 2022 | 237,166,625 | $ | 2,372 | $ | 1,259,527 | $ | (1,040 | ) | $ | (655,382 | ) | $ | 605,477 | ||||||||||
| Non-cash stock-based compensation | — | — | 17,087 | — | — | 17,087 | |||||||||||||||||
| Stock-based awards and related share issuances, net | 3,333,208 | 33 | (33 | ) | — | — | — | ||||||||||||||||
| Other comprehensive income | — | — | — | 1,040 | — | 1,040 | |||||||||||||||||
| Net loss | — | — | — | — | (66,215 | ) | (66,215 | ) | |||||||||||||||
| Balance, December 31, 2023 | 240,499,833 | $ | 2,405 | $ | 1,276,581 | $ | — | $ | (721,597 | ) | $ | 557,389 | |||||||||||
| Gevo, Inc. Condensed Consolidated Statements of Cash Flows (In thousands) | ||||||||
| Year Ended December 31, | ||||||||
| 2024 | 2023 | |||||||
| Operating Activities | ||||||||
| Net loss | $ | (78,640 | ) | $ | (66,215 | ) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
| Stock-based compensation | 14,733 | 17,087 | ||||||
| Depreciation and amortization | 18,298 | 19,007 | ||||||
| Amortization of marketable securities discount | — | (102 | ) | |||||
| Other noncash expense | 2,497 | 908 | ||||||
| Changes in operating assets and liabilities, net of effects of acquisition: | ||||||||
| Accounts receivable | 417 | (2,147 | ) | |||||
| Inventories | (706 | ) | 670 | |||||
| Prepaid expenses and other current assets, deposits and other assets | (19,050 | ) | (25,620 | ) | ||||
| Accounts payable, accrued expenses and non-current liabilities | 5,068 | 2,693 | ||||||
| Net cash used in operating activities | (57,383 | ) | (53,719 | ) | ||||
| Investing Activities | ||||||||
| Acquisitions of property, plant and equipment | (51,085 | ) | (54,455 | ) | ||||
| Proceeds from sale of investment tax credit | 15,336 | — | ||||||
| Payment of earnest money deposit | (10,000 | ) | — | |||||
| Acquisition of CultivateAI, net of cash acquired | (6,070 | ) | — | |||||
| Proceeds from maturity of marketable securities | — | 168,550 | ||||||
| Proceeds from sale of property, plant and equipment | — | 34 | ||||||
| Net cash (used in) provided by investing activities | (51,819 | ) | 114,129 | |||||
| Financing Activities | ||||||||
| Proceeds from issuance of Remarketed Bonds | 68,155 | — | ||||||
| Extinguishment of 2021 Bonds, net | (68,155 | ) | — | |||||
| Payment of debt offering costs | (1,665 | ) | — | |||||
| Proceeds from the exercise of warrants | 49 | — | ||||||
| Payment of loans payable | (130 | ) | (167 | ) | ||||
| Payment of finance lease liabilities | (906 | ) | (22 | ) | ||||
| Repurchases of common stock | (4,710 | ) | — | |||||
| Net cash used in financing activities | (7,362 | ) | (189 | ) | ||||
| Net (decrease) increase in cash and cash equivalents | (116,564 | ) | 60,221 | |||||
| Cash, cash equivalents and restricted cash at beginning of period | 375,597 | 315,376 | ||||||
| Cash, cash equivalents and restricted cash at end of period | $ | 259,033 | $ | 375,597 | ||||
| Gevo, Inc. Reconciliation of GAAP to Non-GAAP Financial Information (In thousands) | ||||||||||||||||
| Three Months Ended December 31, | Year Ended December 31, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Non-GAAP Adjusted EBITDA (Consolidated): | ||||||||||||||||
| Loss from operations | $ | (19,646 | ) | $ | (21,337 | ) | $ | (90,824 | ) | $ | (81,835 | ) | ||||
| Depreciation and amortization | 6,076 | 4,684 | 18,298 | 19,007 | ||||||||||||
| Stock-based compensation | 2,248 | 4,335 | 14,733 | 17,087 | ||||||||||||
| Non-GAAP adjusted EBITDA (loss) (Consolidated) | $ | (11,322 | ) | $ | (12,318 | ) | $ | (57,793 | ) | $ | (45,741 | ) | ||||
| Three Months Ended December 31, | Year Ended December 31, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Non-GAAP Adjusted EBITDA (Gevo NW Iowa RNG): | ||||||||||||||||
| Loss from operations | $ | (3,497 | ) | $ | (1,274 | ) | $ | (8,760 | ) | $ | (7,656 | ) | ||||
| Depreciation and amortization | 5,233 | 1,606 | 8,580 | 6,705 | ||||||||||||
| Allocated intercompany expenses for shared service functions | 890 | 890 | 3,561 | 3,561 | ||||||||||||
| Stock-based compensation | 46 | 42 | 171 | 102 | ||||||||||||
| Non-GAAP adjusted EBITDA (Gevo NW Iowa RNG) | $ | 2,672 | $ | 1,264 | $ | 3,552 | $ | 2,712 | ||||||||
Media Contact
Heather Manuel
Vice President of Stakeholder Engagement & Partnerships
PR@gevo.com
Investor Contact
Eric Frey, PhD
Vice President of Corporate Development
IR@Gevo.com
FAQ
What was Gevo's (GEVO) Q4 2024 revenue and how did it perform?
How much cash does Gevo (GEVO) have on hand as of Q4 2024?
What was Gevo's (GEVO) RNG subsidiary performance in 2024?
What is Gevo's (GEVO) expected timeline for LCFS Program pathway approval?
What was Gevo's (GEVO) earnings per share in Q4 2024?
