Gevo
Runs an acquired North Dakota ethanol and carbon-capture plant as its main revenue engine.
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Profile
Runs a low-carbon ethanol plant with on-site carbon capture in North Dakota, a dairy-manure renewable natural gas facility in Iowa, and a still-unbuilt sustainable aviation fuel project in South Dakota backed by a conditional federal loan guarantee. Revenue comes mostly from ethanol sales, federal clean-fuel tax credits, and low-carbon fuel credit markets, not aviation fuel.
Spun out of Caltech and UCLA research in 2005 as Methanotech and renamed a year later, the company's founding science fermented sugars into isobutanol as a renewable fuel feedstock. A Nasdaq listing followed in 2011 behind plans to convert a Minnesota ethanol plant into jet fuel; output never cleared demonstration scale, and that site now serves customer education, not production.
The business turned commercially real only recently, when an acquired North Dakota ethanol plant paired with carbon capture became the revenue engine, complemented by a smaller Iowa dairy-manure renewable natural gas line sold under offtake to a major oil company.
A sustainable aviation fuel plant in South Dakota remains unbuilt, backed by a conditional federal loan guarantee under review for a smaller design. Ethanol margins, corn costs, and clean-fuel tax credit rules directly shape earnings.
Company facts
Categories
Key statistics
Year to date −18.2% · Average volume (30d) 3.2M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 14, 2026 | Jefferies | Reiterate | Hold | $1.90 | |
| Jul 16, 2026 | Northland Securities | Target | $3.50 | $3.75 | |
| May 22, 2026 | UBS | Reiterate | Neutral | $2.25 | $2 |
| Apr 16, 2026 | Northland Securities | Target | $3 | $3.50 | |
| Dec 1, 2025 | Northland Securities | Target | $3 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | −$0.02 | −$0.01 | +52.2% | $46.4M | $46.5M | +0.2% | +9.03% |
| May 7, 2026Q1 FY26 | −$0.02 | −$0.05 | −150.0% | $44.9M | $42.9M | −4.3% | −9.85% |
| Mar 5, 2026Q4 FY25 | −$0.03 | −$0.02 | +33.3% | $44.4M | $45.0M | +1.4% | +13.23% |
| Nov 10, 2025Q3 FY25 | −$0.04 | −$0.03 | +25.0% | $43.5M | $42.7M | −1.9% | −1.42% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $29.1M | $43.4M | $42.7M | $45.3M | $42.9M | $46.5M | |
| Gross profit | $7.7M | $26.1M | $12.5M | $21.1M | $22.7M | $19.8M | |
| Operating income | −$20.1M | $5.8M | −$3.6M | −$5.4M | −$4.9M | −$171.7M | |
| Net income | −$21.7M | $2.1M | −$8.0M | −$6.3M | −$21.7M | −$176.9M | |
| Diluted EPS | −$0.09 | $0.01 | −$0.03 | −$0.03 | −$0.09 | −$0.75 | |
| Gross margin | 26.3% | 60.2% | 29.4% | 46.5% | 52.9% | 42.6% | |
| Operating margin | -69.2% | 13.4% | -8.4% | -11.8% | -11.4% | -369.3% |
Fiscal years (4-quarter sums)FY21 $613.0K · FY22 $1.2M · FY23 $17.2M · FY24 $16.9M · FY25 $160.6M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $58.1M · Total debt $170.7M · Total assets $490.7M · Shareholders' equity $273.2M
Dividends
No dividends on record.
Ownership
Shares outstanding 243.41M · Float 231.57M · 95.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 18.33M | 7.53% | 13F | Aug 7, 2026 |
| State Street Corporation | 13.43M | 5.50% | 13G | Aug 7, 2026 |
| Vanguard Capital Management LLC | 10.25M | 4.21% | 13F | Aug 13, 2026 |
| Geode Capital Management, LLC | 6.27M | 2.58% | 13F | Aug 12, 2026 |
| Invesco Ltd. | 5.58M | 2.29% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 21, 2026 | James J. Barber | director | +50,000 | $1.54 |
| Aug 21, 2026 | David Michael Kettner | officer: Chief Legal & Emrg Biz Officer | +12,500 | $1.55 |
| Aug 6, 2026 | Paul D. Bloom | director, officer: CEO | −31,096 | $1.55 |
| Aug 6, 2026 | Oluwagbemileke Yusuf Agiri | officer: CFO | −18,223 | $1.54 |
| Aug 6, 2026 | Kimberly T. Bowron | officer: Chief of Staff | −10,257 | $1.55 |
Peers
- Calumet
Scaling DOE-backed SAF production via a closed $1.44B federal loan
- Green Plains
Running a multi-plant CCS ethanol platform monetizing 45Z tax credits
- Aemetis
Running a California ethanol, dairy RNG, and development-stage SAF/CCS platform
- REX
Operating six Midwest ethanol plants, building CCS for 45Z/45Q credits
- Clean Energy Fuels
Running dairy-manure RNG joint ventures and the largest US RNG fueling network
- LanzaTech Global
Competing head-to-head in alcohol-to-jet SAF technology and federal financing
- Archer Daniels Midland
Operating large-scale corn ethanol production with CCS at Decatur, Illinois
- Montauk Renewables
Converting landfill and manure biogas into RNG sold via RINs and LCFS credits
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Gevo | $1.68 | −0.30% | $406.5M | — | 47.8 | 2.3 | — |
| Calumet | $47.75 | −0.02% | $4.16B | — | 14.9 | 0.9 | +40.8% |
| Green Plains | $14.66 | +0.07% | $1.03B | 9.5 | 8.7 | 0.6 | −19.3% |
| Aemetis | $1.84 | −1.34% | $130.9M | — | — | 0.6 | +20.0% |
| REX | $41.35 | +0.07% | $1.36B | 14.7 | — | 2.1 | −1.2% |
| Clean Energy Fuels | $1.64 | +0.31% | $359.0M | — | — | 0.8 | +3.7% |
| LanzaTech Global | $6.17 | 0.00% | $13.6M | 0.1 | — | 0.2 | −0.8% |
| Archer Daniels Midland | $81.68 | +0.17% | $39.30B | 22.3 | 14.1 | 0.5 | +7.1% |
| Montauk Renewables | $1.77 | −0.56% | $251.9M | 31.9 | 32.4 | 1.3 | +19.7% |
| Median | 14.7 | 14.5 | 0.7 | +5.4% |