Gevo reported positive operating cash flow of $20 million in Q4 2025 and ended the year with $117 million in cash, reflecting a $9 million increase from the prior quarter. Revenue totaled $45 million in Q4 and $161 million for the year, while non-GAAP adjusted EBITDA reached $7.7 million—marking the third consecutive quarter of profitability—and the company reaffirmed its goal of a $40 million annual EBITDA run-rate.

During 2025, Gevo monetized approximately 140,000 metric tons of carbon dioxide credits and built an inventory of 30,000 tons of carbon removal credits for future sales. The company achieved record low-carbon ethanol output of 69 million gallons (a 3% increase year-over-year) and produced 173,000 metric tons of high-quality carbon removal credits, surpassing 500,000 metric tons since its CCS asset startup in 2022, which holds a thousand-year permanence certification and an “A” rating from a leading carbon rating agency.

In February 2026, Gevo consolidated its tax-exempt bonds with its North Dakota debt facility, freeing all previously restricted cash collateral. The company sold $52 million of production tax credits in 2025, received $41 million in cash proceeds last year, and expects the remaining proceeds in the first quarter of 2026.

Gevo continues to advance its synthetic aviation fuel pipeline with a conditional DOE loan guarantee commitment for the ATJ-30 project at its North Dakota facility. The firm integrated the Red Trail Energy acquisition, launched a carbon business with multi-year offtake agreements, partnered with Praj Industries on isobutanol for diesel in India, licensed ETO technology to Axens, and expanded its patent portfolio to over 350 granted patents.