$GEVO
Gevo, Inc.

2016 Q2 Form 10-Q Financial Statement

#000156459016023895 Filed on August 10, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q4 2015 Q2
Revenue $8.113M $7.300M $8.924M
YoY Change -9.09% -23.16% 15.58%
Cost Of Revenue $9.989M $9.000M $9.898M
YoY Change 0.92% -17.2% 19.7%
Gross Profit -$1.876M -$1.700M -$974.0K
YoY Change 92.61% 24.09% 77.74%
Gross Profit Margin -23.12% -23.29% -10.91%
Selling, General & Admin $2.150M $3.290M $3.792M
YoY Change -43.3% -31.88% -22.58%
% of Gross Profit
Research & Development $1.470M $1.600M $1.765M
YoY Change -16.71% -40.96% -50.78%
% of Gross Profit
Depreciation & Amortization $1.660M $1.670M $1.620M
YoY Change 2.47% 0.0% 110.39%
% of Gross Profit
Operating Expenses $3.620M $4.880M $5.557M
YoY Change -34.86% -35.28% -34.5%
Operating Profit -$5.496M -$6.580M -$6.531M
YoY Change -15.85% -26.15% -27.69%
Interest Expense -$15.26M -$1.640M -$7.500M
YoY Change 103.47% -27.75% -387.47%
% of Operating Profit
Other Income/Expense, Net $210.0K $10.00K -$7.839M
YoY Change -102.68% -3.51%
Pretax Income -$21.49M -$7.960M -$14.37M
YoY Change 49.55% -28.16% -16.26%
Income Tax
% Of Pretax Income
Net Earnings -$21.49M -$7.960M -$14.37M
YoY Change 49.55% -28.16% -16.24%
Net Earnings / Revenue -264.88% -109.04% -161.03%
Basic Earnings Per Share
Diluted Earnings Per Share -$179.1M -$199.0M -$479.0M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q2 2015 Q4 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $22.60M $17.00M $22.50M
YoY Change 0.44% 165.63% 281.36%
Cash & Equivalents $22.60M $17.03M $22.50M
Short-Term Investments
Other Short-Term Assets $900.0K $700.0K $600.0K
YoY Change 50.0% 0.0% -33.33%
Inventory $2.900M $3.487M $2.900M
Prepaid Expenses
Receivables $1.700M $1.391M $2.300M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $28.10M $22.60M $28.30M
YoY Change -0.71% 64.44% 99.3%
LONG-TERM ASSETS
Property, Plant & Equipment $77.80M $76.80M $77.90M
YoY Change -0.13% -5.47% -6.93%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.400M $3.400M $3.800M
YoY Change -10.53% -12.82% -7.32%
Total Long-Term Assets $81.10M $80.20M $81.70M
YoY Change -0.73% -5.85% -6.95%
TOTAL ASSETS
Total Short-Term Assets $28.10M $22.60M $28.30M
Total Long-Term Assets $81.10M $80.20M $81.70M
Total Assets $109.2M $102.8M $110.0M
YoY Change -0.73% 3.91% 7.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.000M $2.700M $1.500M
YoY Change 33.33% 3.85% -53.13%
Accrued Expenses $2.500M $4.500M $5.100M
YoY Change -50.98% -23.73% 2.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $23.80M $500.0K $300.0K
YoY Change 7833.33% 66.67% 0.0%
Total Short-Term Liabilities $34.50M $18.30M $15.00M
YoY Change 130.0% 52.18% 13.64%
LONG-TERM LIABILITIES
Long-Term Debt $16.50M $36.10M $36.70M
YoY Change -55.04% -8.84% -18.08%
Other Long-Term Liabilities $0.00 $147.0K $200.0K
YoY Change -100.0% -53.33% -50.0%
Total Long-Term Liabilities $16.50M $147.0K $36.90M
YoY Change -55.28% -53.33% -18.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $34.50M $18.30M $15.00M
Total Long-Term Liabilities $16.50M $147.0K $36.90M
Total Liabilities $51.10M $54.51M $51.90M
YoY Change -1.54% 4.89% -10.98%
SHAREHOLDERS EQUITY
Retained Earnings -$364.6M -$339.5M
YoY Change 11.93%
Common Stock $892.0K $216.0K
YoY Change 227.27%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $58.19M $48.33M $58.20M
YoY Change
Total Liabilities & Shareholders Equity $109.2M $102.8M $110.0M
YoY Change -0.68% 3.95% 7.84%

Cashflow Statement

Concept 2016 Q2 2015 Q4 2015 Q2
OPERATING ACTIVITIES
Net Income -$21.49M -$7.960M -$14.37M
YoY Change 49.55% -28.16% -16.24%
Depreciation, Depletion And Amortization $1.660M $1.670M $1.620M
YoY Change 2.47% 0.0% 110.39%
Cash From Operating Activities -$5.870M -$7.150M -$5.400M
YoY Change 8.7% 12.07% -55.85%
INVESTING ACTIVITIES
Capital Expenditures $395.0K -$1.190M $49.00K
YoY Change 706.12% 250.0% -94.94%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $140.0K
YoY Change -100.0% -105.36%
Cash From Investing Activities -$2.600M -$1.190M $100.0K
YoY Change -2700.0% 240.0% -102.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $3.500M $9.970M $17.20M
YoY Change -79.65%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 22.41M 9.170M 23.48M
YoY Change -4.56% -1086.02% 76.54%
NET CHANGE
Cash From Operating Activities -5.870M -7.150M -5.400M
Cash From Investing Activities -2.600M -1.190M 100.0K
Cash From Financing Activities 22.41M 9.170M 23.48M
Net Change In Cash 13.94M 830.0K 18.18M
YoY Change -23.32% -110.84% -824.3%
FREE CASH FLOW
Cash From Operating Activities -$5.870M -$7.150M -$5.400M
Capital Expenditures $395.0K -$1.190M $49.00K
Free Cash Flow -$6.265M -$5.960M -$5.449M
YoY Change 14.98% -1.32% -58.71%

Facts In Submission

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us-gaap Interest Expense Debt
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gevo Gain Loss From Change In Fair Value Of Senior Secured Convertible Debt
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us-gaap Revenue From Grants
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gevo Gain Loss On Inducement Of Warrant Exercises
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gevo Gain Loss On Inducement Of Warrant Exercises
GainLossOnInducementOfWarrantExercises
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gevo Gain Loss From Change In Fair Value Of Senior Secured Convertible Debt
GainLossFromChangeInFairValueOfSeniorSecuredConvertibleDebt
-1775000
gevo Gain Loss On Equity Issuance
GainLossOnEquityIssuance
-1519000
CY2015Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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gevo Proceeds From Sales Tax Refund For Property Plant And Equipment
ProceedsFromSalesTaxRefundForPropertyPlantAndEquipment
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us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
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gevo Conversion Of Convertible Debt To Common Stock
ConversionOfConvertibleDebtToCommonStock
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CY2015Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
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CY2016Q2 us-gaap Interest Payable Current
InterestPayableCurrent
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CY2015Q2 us-gaap Common Stock Par Or Stated Value Per Share
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us-gaap Stockholders Equity Reverse Stock Split
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CY2015Q2 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2016Q2 us-gaap Other Inventories Spare Parts
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CY2016Q2 us-gaap Property Plant And Equipment Gross
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AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
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us-gaap Cost Of Goods Sold Depreciation
CostOfGoodsSoldDepreciation
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gevo Operating Expenses Depreciation
OperatingExpensesDepreciation
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gevo Warrants Issued To Purchase Additional Shares Of Common Stock
WarrantsIssuedToPurchaseAdditionalSharesOfCommonStock
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CY2016Q2 gevo Common Shares Issued Upon Exercise Of Warrants
CommonSharesIssuedUponExerciseOfWarrants
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CY2016Q2 gevo Shares Underlying Outstanding Warrants
SharesUnderlyingOutstandingWarrants
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CY2016Q2 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
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AccountsPayableTradeCurrent
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CY2016Q2 gevo Accrued Legal Related Expenses
AccruedLegalRelatedExpenses
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CY2015Q4 gevo Accrued Legal Related Expenses
AccruedLegalRelatedExpenses
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CY2016Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
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CY2016Q2 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
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CY2015Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
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CY2016Q2 us-gaap Capital Lease Obligations Current
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CY2015Q4 us-gaap Capital Lease Obligations Current
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CY2016Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
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CY2015Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
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CY2014Q2 gevo Percentage Of Aggregate Principal Amount Outstanding
PercentageOfAggregatePrincipalAmountOutstanding
0.10
CY2016Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
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CY2015Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
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DebtInstrumentUnamortizedDiscount
8000
CY2015Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
19000
CY2016Q2 us-gaap Unamortized Debt Issuance Expense
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1000
CY2015Q4 us-gaap Unamortized Debt Issuance Expense
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2000
CY2016Q2 us-gaap Secured Debt
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324000
CY2015Q4 us-gaap Secured Debt
SecuredDebt
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CY2011Q4 us-gaap Debt Instrument Repurchase Amount
DebtInstrumentRepurchaseAmount
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CY2012Q1 us-gaap Debt Instrument Repurchase Amount
DebtInstrumentRepurchaseAmount
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CY2016Q2 us-gaap Debt Instrument Repurchase Amount
DebtInstrumentRepurchaseAmount
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CY2016Q2 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.11
gevo Percentage Of Loan Principal Due Final Payment
PercentageOfLoanPrincipalDueFinalPayment
0.0575
CY2016Q2 gevo Number Of Warrants Outstanding
NumberOfWarrantsOutstanding
3
us-gaap Debt Instrument Periodic Payment Principal
DebtInstrumentPeriodicPaymentPrincipal
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CY2016Q2 us-gaap Long Term Debt Percentage Bearing Fixed Interest Rate
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us-gaap Amortization Of Debt Discount Premium
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us-gaap Amortization Of Financing Costs
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CY2015Q1 us-gaap Common Stock Shares Issued
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CY2013Q1 us-gaap Production Barrels Of Oil Equivalents1
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CY2013Q2 gevo Increase Decrease In Production Barrels Of Oil Equivalents
IncreaseDecreaseInProductionBarrelsOfOilEquivalents
12500
us-gaap Intercompany Loans Description
IntercompanyLoansDescription
In addition, under the terms of the Amended Agri-Energy Loan Agreement with TriplePoint, as amended, subject to certain limited exceptions, Agri-Energy is only permitted to pay dividends if all principal balances due to TriplePoint have been paid.
CY2016Q2 us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
542000
us-gaap Allocated Share Based Compensation Expense
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698000
gevo Lease Expiration Month And Year
LeaseExpirationMonthAndYear
2021-07
gevo Lease Term Expiration Period
LeaseTermExpirationPeriod
P12M
us-gaap Operating Leases Rent Expense Net
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CY2015 us-gaap Operating Leases Rent Expense Net
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CY2016Q2 us-gaap Operating Leases Future Minimum Payments Due In Five Years
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CY2016Q2 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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CY2016Q2 us-gaap Operating Leases Future Minimum Payments Due
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167000
CY2016Q2 us-gaap Capital Leases Future Minimum Payments Due
CapitalLeasesFutureMinimumPaymentsDue
167000
CY2016Q2 gevo Total Leases Future Minimum Payments Remainder Of Fiscal Year
TotalLeasesFutureMinimumPaymentsRemainderOfFiscalYear
711000
CY2016Q2 gevo Total Leases Future Minimum Payments Due In Two Years
TotalLeasesFutureMinimumPaymentsDueInTwoYears
1592000
CY2016Q2 gevo Total Leases Future Minimum Payments Due In Three Years
TotalLeasesFutureMinimumPaymentsDueInThreeYears
1433000
CY2016Q2 gevo Total Leases Future Minimum Payments Due In Four Years
TotalLeasesFutureMinimumPaymentsDueInFourYears
918000
CY2016Q2 gevo Total Leases Future Minimum Payments Due In Five Years
TotalLeasesFutureMinimumPaymentsDueInFiveYears
389000
CY2016Q2 gevo Total Leases Future Minimum Payments Due Thereafter
TotalLeasesFutureMinimumPaymentsDueThereafter
197000
CY2016Q2 gevo Total Leases Future Minimum Payments Due
TotalLeasesFutureMinimumPaymentsDue
5240000
CY2016Q2 us-gaap Accrual For Environmental Loss Contingencies
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0
CY2015Q4 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
0
CY2016Q2 gevo Interest Expense Including Debt Issuance Costs
InterestExpenseIncludingDebtIssuanceCosts
2246000
CY2015Q2 gevo Interest Expense Including Debt Issuance Costs
InterestExpenseIncludingDebtIssuanceCosts
2029000
CY2016Q2 us-gaap Depreciation And Amortization
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1661000
CY2015Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1619000
CY2016Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
395000
CY2015Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
49000
CY2016Q1 gevo Number Of Consecutive Business Period To Maintain Minimum Bid Closing Price
NumberOfConsecutiveBusinessPeriodToMaintainMinimumBidClosingPrice
P30D
CY2016Q1 gevo Common Stock Minimum Bid Price
CommonStockMinimumBidPrice
1.00
CY2016Q1 gevo Initial Period Allowed To Regain Compliance With Listing Qualifications
InitialPeriodAllowedToRegainComplianceWithListingQualifications
P180D
CY2016Q1 gevo Regain Compliance With Listing Qualifications Period End Date
RegainComplianceWithListingQualificationsPeriodEndDate
2016-07-25
gevo Nasdaq Listing Minimum Bid Price Requirement Description
NASDAQListingMinimumBidPriceRequirementDescription
On July 26, 2016, The NASDAQ Stock Market (“NASDAQ”) granted the Company an additional 180 calendar days, or until January 23, 2017, to regain compliance with the $1.00 per share minimum required for continued listing on The NASDAQ Capital Market pursuant to NASDAQ Marketplace Rule 5550(a)(2) (the “Minimum Bid Price Rule”). As previously reported, on January 25, 2016, the Company received a notification letter (the “Notice”) from NASDAQ advising the Company that for 30 consecutive trading days preceding the date of the Notice, the bid price of the Company’s common stock had closed below the $1.00 per share minimum required for continued listing on The NASDAQ Capital Market pursuant to the Minimum Bid Price Rule. The Company was unable to regain compliance with the Minimum Bid Price Rule by July 25, 2016. The Company was provided 180 calendar days, or until July 25, 2016, to regain compliance with the Minimum Bid Price Rule.

Files In Submission

Name View Source Status
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Financial_Report.xlsx Edgar Link pending
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