Gevo(US:GEVO)2025-03-27 20:10Financial Performance - Combined operating revenue and investment income for Q4 2024 was $8.9 million, with full-year revenue at $32.7 million[4]. - The RNG subsidiary generated revenue of $15.8 million in 2024, reflecting a $0.3 million increase from the previous year[4]. - Loss from operations for Q4 2024 was $19.6 million, with a non-GAAP adjusted EBITDA loss of $11.3 million[4]. - Total operating revenues for 2024 decreased by $0.3 million compared to 2023, primarily due to lower sales of environmental attributes[5]. - Net loss for 2024 was $78.6 million, with a net loss per share of $0.34[23]. - Gevo, Inc. reported a net loss of $78,640,000 for the year ended December 31, 2024, compared to a net loss of $66,215,000 in 2023, representing an increase in loss of approximately 18.5%[24]. - The comprehensive loss for 2024 was $78,640,000, up from $65,175,000 in 2023, indicating a year-over-year increase of about 20.7%[24]. - The company reported a non-GAAP adjusted EBITDA loss of $57,793,000 for the year ended December 31, 2024, compared to a loss of $45,741,000 in 2023, indicating a deterioration of approximately 26.4%[28]. Cash and Assets - Gevo ended Q4 2024 with cash, cash equivalents, and restricted cash totaling $259.0 million[4]. - Cash, cash equivalents, and restricted cash at the end of 2024 were $259,033,000, down from $375,597,000 at the end of 2023, representing a decrease of about 30.9%[26]. - Total assets decreased from $650.3 million in 2023 to $583.9 million in 2024[22]. - Total stockholders' equity decreased to $489,488,000 as of December 31, 2024, down from $557,389,000 in 2023, reflecting a decline of approximately 12.2%[25]. Expenses - Research and development expenses decreased by $1.1 million in 2024, attributed to reduced consulting and personnel costs[7]. - General and administrative expenses increased by $3.2 million in 2024, mainly due to higher personnel costs and consulting fees[8]. - Project development costs rose by $3.4 million in 2024, driven by patent-related costs and increased personnel expenses[9]. - Net cash used in operating activities for 2024 was $57,383,000, compared to $53,719,000 in 2023, showing an increase of about 6.2%[26]. - Gevo, Inc. incurred $51,085,000 in capital expenditures for property, plant, and equipment in 2024, slightly down from $54,455,000 in 2023[26]. - Stock-based compensation expenses decreased to $14,733,000 in 2024 from $17,087,000 in 2023, reflecting a reduction of approximately 13.4%[28]. Acquisitions and Financing - Gevo, Inc. completed the acquisition of CultivateAI in 2024, with a net cash outflow of $6,070,000 related to this acquisition[26]. - The company issued Remarketed Bonds in 2024, generating proceeds of $68,155,000, which were used to extinguish 2021 Bonds[26].