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Mar 31, 2025
Gevo Q1 2025 Earnings Report
Reported First Quarter 2025 Financial Results
Key Takeaways
Gevo reported a significant increase in total operating revenue in the first quarter of 2025, primarily driven by the acquisition of Gevo North Dakota. The company's net loss per share was $0.09. Gevo is focused on achieving positive Adjusted EBITDA in 2025, supported by the performance of its RNG and newly acquired North Dakota facilities, and the expected monetization of Section 45Z tax credits.
Total operating revenue increased by $25.1 million in Q1 2025 compared to Q1 2024.
The increase in revenue was mainly due to the acquisition of Gevo North Dakota, contributing $22.8 million.
RNG total operating revenue increased by 42% compared to the prior year, driven by an improved LCFS carbon intensity score.
Net loss per share was $0.09 for the first quarter of 2025.
Gevo ended the quarter with $134.9 million in cash, cash equivalents, and restricted cash.
Revenue by Segment
Forward Guidance
Gevo expects further Adjusted EBITDA growth through the rest of 2025, driven by the expected monetization of Section 45Z tax credits and the performance of its operating assets. The company is also actively pursuing financing and development of its ATJ projects.
Positive Outlook
- Expectation of achieving positive Adjusted EBITDA for the full year 2025.
- Expected monetization of Section 45Z tax credits to contribute to Adjusted EBITDA growth.
- Operating assets (RNG and Gevo North Dakota) are expected to contribute to Adjusted EBITDA.
- Active engagement with the U.S. Department of Energy for financing the ATJ-60 project.
- Development of a modular ATJ-30 plant at the Gevo North Dakota site with more than 50% capacity already sold.
Challenges Ahead
- Financing and deployment of ATJ projects are still required.
- Reliance on expected monetization of future tax credits.
- Marketplace perceived headwinds and noise mentioned by management.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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