Business
Gevo Reports Fourth Quarter 2024 Financial Results and Reaffirms Business Update
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”,
About this update from Gevo, Inc.
[{"type":"text","content":"Gevo to Host Conference Call Today at 4:30 p.m. ET\nENGLEWOOD, 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. 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 $0.3 million compared to the prior year, primarily due to lower sales of environmental attributes from our RNG project. ...