On February 24, 2022, Gevo Inc. (GEVO) posted its Q4 2021 financial results along with operational highlights and updates. As a result, the company’s stock took a harsh hit in the after-hours while it was in the green during regular trading.
It seems investors were looking forward to the earnings with positive enthusiasm as the stock added 10.89% in the regular session. GEVO traded at 155% of its average volume during regular trading. After varying between a high of $3.39 and a low of $2.79, the stock closed the session at $3.36. Following the announcement, the stock went down by 16.96% in the after-hours, losing more than what is gained. Hence, GEVO stock was trading at a price of $2.79 per share in the after-hours on Thursday.
The renewable chemicals and next-generation biofuels company, Gevo Inc. was founded in 2005. With a market capitalization of $611.64 million, the company has 201.86 million shares outstanding in the market.
GEVO’s Latest Earnings
The company reported revenue of $0.1 million for Q4 2021, against $0.5 million in the year-ago period.
Moreover, the company incurred a non-GAAP adjusted net loss of $0.08 per share in Q4 2021, against $0.07 in the prior-year quarter.
Furthermore, the non-GAAP cash EBITDA loss was $10.9 million in the quarter, while it was $5.7 million in Q4 2020.
GEVO had cash, cash equivalents, restricted cash, and marketable securities of $475.8 million at the end of the quarter.
Net-Zero 1 Update
The company also provided updates on its Net-Zero 1 Project. The company expects to have selected the final site for the project in late 20222. Further, the mechanical completion of the project is expected in late 2024 after the commencement of full construction in late 2023. Therefore, it is expected that the project will be operational in 2025.
GEVO NW Iowa RNG, LLC
On January 31, the company announced the commencement of bringing its wholly-owned dairy manure-based renewable natural gas (RNG) project online. The Gevo NW Iowa RNG, LLC is located in northwest Iowa. The project is expected to generate roughly 355,000 MMBtu of renewable natural gas per year.
Recent Appointment
On January 04, the company announced the appointment of David George as Senior Vice President, Verity Tracking. Mr. George joined the company from Xpansiv, Inc. as its Chief Commercial Officer. He has vast experience of over two decades in the industry with a specific emphasis on blockchain technology.
