Gevo, Inc. (GEVO) stock plummeted 12.80% in the pre-market trading session at the price of $2.79 after announcing its earnings report for the fourth quarter of 2021.
GEVO aims to convert renewable energy and carbon into energy-dense liquified hydrocarbons. These hydrocarbons can be used as vehicle fuels such as jet fuel, gasoline, and diesel fuel. They can produce net-zero greenhouse gas and carbon emissions when burned.
GEVO Q4 2021 Financial Results
On 24th February 2022, GEVO published its financial results for Q4 of 2021. The company has also presented its recent business highlights. Revenue totaled $0.1M for Q4 ended 31st December 2021. For the same quarter of 2020, the company has a revenue of US$0.5M. Net loss per share was ($0.08) for the Q4 of 2021 compared to ($0.15) in the same period of 2020.
Gross loss totaled ($3.8) M for the Q4 of 2021, compared to a gross loss of ($1.4) M in the same quarter of 2020. Loss from operations totaled ($16.5)M for the Q4 of 2021, compared to ($7.6) M in Q4 of 2020. As of 31st December 2021, GEVO has cash and cash equivalents of $475.8M. The cash and cash equivalents totaled $522.4M as of 30th September 2021.
Chief Executive Officer of Gevo, Dr. Patrick R. Gruber, remarked that it is a great time to work for the company with plans to introduce the fully-decarbonized alcohol-to-SAF plant. The project is a first of its kind and will deliver the record volumes of SAF on a commercial scale. GEVO’s partnership with Axens is a fruitful experience, he added.
Knowledge to transform ethanol into net-zero SAF is key to their development strategy, particularly with the potential commercial bonds with ADM and other partners. Over the past twelve months, they had employed the leaders and directors for their Net-Zero 1 Project. They are centered on the engineering of Net-Zero 1 so that they can get it functioning as soon as possible, Dr. Gruber continued.