Gevo(GEVO) - 2025 Q4 - Annual Results

Financial Performance - Gevo reported a revenue of $45 million for Q4 2025 and $161 million for the full year 2025, with a loss from operations of $2.2 million in Q4[2]. - Total revenues for 2025 reached $160,580,000, a significant increase from $16,915,000 in 2024, representing a growth of approximately 848%[16]. - The net loss attributed to Gevo, Inc. for 2025 was $33,836,000, compared to a net loss of $78,640,000 in 2024, indicating an improvement of approximately 57.0%[16]. - The company reported a basic and diluted net loss per share of $0.14 for 2025, down from $0.34 in 2024[16]. - For the year ended December 31, 2024, Gevo reported a consolidated loss from operations of $90.824 million[22]. - The Non-GAAP adjusted EBITDA loss for the consolidated entity was $57.793 million for the year ended December 31, 2024[22]. - Non-GAAP adjusted EBITDA for 2025 was a loss of $16,437,000, an improvement from a loss of $57,793,000 in 2024[21]. Cash Flow and Assets - The company achieved positive cash flow from operations of $20 million in Q4 2025 and aims for neutral to positive cash flow for 2026[2]. - Gevo's cash, cash equivalents, and restricted cash increased to $117 million at year-end, a $9 million increase from the previous quarter[2]. - Cash and cash equivalents at the end of 2025 were $116,939,000, a decrease from $259,033,000 at the end of 2024[20]. - Gevo's total assets increased to $718.9 million as of December 31, 2025, compared to $583.9 million at the end of 2024[15]. Production and Operations - Gevo produced a record low-carbon ethanol volume of 69 million gallons in 2025, a 3% increase from 67 million gallons in 2024[2]. - The company incurred $85,241,000 in cost of production in 2025, significantly higher than $12,002,000 in 2024[16]. - Research and development expenses decreased to $4,550,000 in 2025 from $5,576,000 in 2024, a reduction of about 18.4%[16]. - Gevo's total operating expenses included $25,323,000 in depreciation and amortization for 2025, compared to $18,298,000 in 2024, reflecting an increase of approximately 38.5%[16]. - Approximately 140,000 tons of carbon dioxide credits were monetized, with an inventory of about 30,000 tons of carbon dioxide removal credits built[2]. - The company generated production tax credits of $52,030,000 in 2025, which were not reported in 2024[20]. Acquisitions and Partnerships - The company successfully closed the acquisition of Red Trail Energy, now called Gevo North Dakota, on January 31, 2025[2]. - The company signed an agreement with Praj Industries to jointly develop isobutanol opportunities for diesel fuel in India[8]. Segment Performance - Gevo's GevoFuels segment reported a loss from operations of $5.411 million for the year ended December 31, 2024[22]. - GevoRNG segment reported a Non-GAAP adjusted EBITDA of $5.344 million for the three months ended December 31, 2024[22].