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Gevo cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$20.8M in Q2 2026 · −$56.7M over twelve months

Operating cash flow−$8.3M
Capital spending−$12.5M
Free cash flow−$20.8M
Cash conversion cycle84 days

Analysis

In Q2 2026, Gevo generated −$8.3M of operating cash flow and spent $12.5M on capital projects, leaving free cash flow of −$20.8M. That is $13.0M less than in Q2 2025 (−$7.8M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$16.2M; the largest uses were other financing ($84.7M), capital spending ($40.4M), operating cash flow ($16.2M); besides operations, cash came from net borrowing (+) / repaid (−) ($70.0M), other investing ($1.8M); the cash balance fell by $68.8M.

Operating cash flow was −$8.3M against net income of −$176M. The largest differences: impairments +$136M, depreciation & amortization +$6.8M, stock-based pay +$2.6M.

Its cash conversion cycle was 84 days (receivables 21 + inventory 93 − payables 31).

Free cash flow

Gevo: free cash flow by quarterGevo: free cash flow by quarter−$20.8MQ3 2024−$33.5MQ4 2024−$29.9MQ1 2025−$7.8MQ2 2025−$14.6MQ3 2025$8.7MQ4 2025−$30.0MQ1 2026−$20.8MQ2 2026
Operating cash flow less capital spending.
Gevo: operating cash flow against capital spendingGevo: operating cash flow against capital spendingOperating cash flowCapital spending−$11.0M$9.8MQ3 2024−$18.8M$14.6MQ4 2024−$24.0M$5.8MQ1 2025−$2.5M$5.2MQ2 2025−$6.8M$7.8MQ3 2025$20.0M$11.2MQ4 2025−$21.1M$8.9MQ1 2026−$8.3M$12.5MQ2 2026
Latest (Q2 2026): Operating cash flow −$8.3M, Capital spending $12.5M.

Capital allocation, year by year

Gevo: where the cash came from (up) and went (down), by fiscal yearGevo: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow −$48.3MFY2021: Net borrowing $61.8MFY2021: Shares issued $489MFY2021: Capital spending −$94.8M$551MFY2021FY2022: Operating cash flow −$44.3MFY2022: Net borrowing −$12KFY2022: Capital spending −$84.1MFY2022FY2023: Operating cash flow −$53.7MFY2023: Net borrowing −$22KFY2023: Asset sales $34KFY2023: Capital spending −$54.5M$34KFY2023FY2024: Operating cash flow −$57.4MFY2024: Net borrowing $67.2MFY2024: Capital spending −$51.1MFY2024: Acquisitions −$6.1MFY2024: Buybacks −$4.7M$67.2MFY2024FY2025: Operating cash flow −$13.4MFY2025: Net borrowing $103MFY2025: Shares issued $798KFY2025: Capital spending −$30.1MFY2025: Acquisitions −$198M$104MFY2025
Over these 5 years operating cash flow totalled −$217M; the largest uses were capital spending ($315M) and operating cash flow ($217M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$58.1M
Debt$167M
Net debt$109M
Cash runway12 months

Gevo is burning cash: its operations consume cash, a free cash flow of −$56.7M a year at the current rate against $58.1M of cash and investments: a runway of about 12 months before any new financing.

Where the cash came from and went

Gevo: sources (+) and uses (−) of cash, Q2 2026Gevo: sources (+) and uses (−) of cash, Q2 2026Cash drawn (+) / kept (−)$20.8MCapital spending−$12.5MOperating cash flow−$8.3MShares issued$80KOther financing−$66K
Gevo: sources (+) and uses (−) of cash, TTM to Q2 2026Gevo: sources (+) and uses (−) of cash, TTM to Q2 2026Other financing−$84.7MNet borrowing (+) / repaid (−)$70.0MCash drawn (+) / kept (−)$68.8MCapital spending−$40.4MOperating cash flow−$16.2MOther investing$1.8MShares issued$868K

From profit to cash

Gevo: net income to operating cash flow, Q2 2026Gevo: net income to operating cash flow, Q2 2026Net income−$176MDepreciation & amortization$6.8MStock-based pay$2.6MImpairments$136MOther non-cash$2.2MReceivables−$2.2MInventory$2.3MPayables$2.3MPrepaid and other assets−$1.1MOperating cash flow−$8.3M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 202621933184
Q1 202619901595
Q4 20251678886
Q3 202520802278
Q2 202524893578
Q1 202522451354
Q4 20243113829140
Q3 20248616860195

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$8.3M−$12.5M———$80K$20.8M−$20.8M
Q1 2026−$21.1M−$8.9M——$69.9M$172K$38.0M−$30.0M
Q4 2025$20.0M−$11.2M——−$821K$342K−$8.6M$8.7M
Q3 2025−$6.8M−$7.8M——−$219K$274K$18.5M−$14.6M
Q2 2025−$2.5M−$5.2M——−$269K$3K$8.0M−$7.8M
Q1 2025−$24.0M−$5.8M−$198M—$105M$179K$124M−$29.9M
Q4 2024−$18.8M−$14.6M——−$328K—$33.8M−$33.5M
Q3 2024−$11.0M−$9.8M—−$646K−$323K—$22.4M−$20.8M

Gevo: income statement and cash flow

Gevo, Q2 2026: revenue $46.5M (+7% year over year), operating margin -369.3%. The chart follows the revenue to costs, profit and cash.

Gevo: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.