Business
Gevo Reports First Quarter 2025 Financial Results
Quarterly Revenue Increased $25 Million Compared to First Quarter of 2024 Due to Strategic Growth Initiatives Further Revenue and Adjusted EBITDA1 Growth is
About this update from Gevo, Inc.
[{"type":"text","content":"Quarterly Revenue Increased $25 Million Compared to First Quarter of 2024 Due to Strategic Growth Initiatives 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, or 42%, 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. 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 captur...