2017 Q1 Form 10-K Financial Statement

#000156459017005692 Filed on March 31, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q4 2016 Q3
Revenue $5.616M $5.840M $6.944M
YoY Change -11.14% -20.0% -13.42%
Cost Of Revenue $9.408M $8.160M $9.650M
YoY Change 2.01% -9.33% -9.22%
Gross Profit -$3.792M -$2.320M -$2.706M
YoY Change 30.62% 36.47% 3.68%
Gross Profit Margin -67.52% -39.73% -38.97%
Selling, General & Admin $2.173M $2.630M $2.273M
YoY Change 13.24% -20.06% -55.78%
% of Gross Profit
Research & Development $1.217M $1.550M $1.156M
YoY Change 16.57% -3.13% -24.44%
% of Gross Profit
Depreciation & Amortization $1.680M $1.710M $1.760M
YoY Change 3.7% 2.4% 8.64%
% of Gross Profit
Operating Expenses $3.390M $4.170M $3.429M
YoY Change 14.41% -14.55% -48.51%
Operating Profit -$7.182M -$6.490M -$6.135M
YoY Change 22.43% -1.37% -33.82%
Interest Expense $2.550M $4.610M -$940.0K
YoY Change -17.74% -381.1% -136.15%
% of Operating Profit
Other Income/Expense, Net $1.248M $10.00K $1.000K
YoY Change -44.8% 0.0% -99.96%
Pretax Income -$5.930M -$2.290M -$9.850M
YoY Change 64.27% -71.23% 51.07%
Income Tax
% Of Pretax Income
Net Earnings -$5.934M -$2.290M -$9.849M
YoY Change 64.6% -71.23% 51.08%
Net Earnings / Revenue -105.66% -39.21% -141.83%
Basic Earnings Per Share
Diluted Earnings Per Share -$10.22M -$329.5K -$41.04M
COMMON SHARES
Basic Shares Outstanding 14.91M 136.4M
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q1 2016 Q4 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $20.40M $27.90M $31.10M
YoY Change 134.48% 64.12% 91.98%
Cash & Equivalents $20.39M $30.50M $31.06M
Short-Term Investments
Other Short-Term Assets $900.0K $900.0K $800.0K
YoY Change -10.0% 28.57% 33.33%
Inventory $4.200M $3.500M $3.200M
Prepaid Expenses
Receivables $1.200M $1.100M $1.100M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $26.60M $33.30M $36.20M
YoY Change 97.04% 47.35% 74.88%
LONG-TERM ASSETS
Property, Plant & Equipment $74.50M $75.60M $76.50M
YoY Change -5.22% -1.56% 0.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.400M $3.400M $3.400M
YoY Change 0.0% 0.0% -10.53%
Total Long-Term Assets $78.00M $79.02M $79.90M
YoY Change -4.88% -1.47% -0.5%
TOTAL ASSETS
Total Short-Term Assets $26.60M $33.30M $36.20M
Total Long-Term Assets $78.00M $79.02M $79.90M
Total Assets $104.6M $112.3M $116.1M
YoY Change 9.53% 9.26% 14.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.100M $2.600M $1.900M
YoY Change -41.67% -3.7% -42.42%
Accrued Expenses $2.600M $3.300M $2.100M
YoY Change 18.18% -26.67% -40.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $16.60M $25.90M $25.30M
YoY Change -27.51% 5080.0% 8333.33%
Total Short-Term Liabilities $26.40M $34.70M $40.30M
YoY Change -18.77% 89.62% 283.81%
LONG-TERM LIABILITIES
Long-Term Debt $1.100M $8.200M $8.800M
YoY Change -92.9% -77.29% -76.47%
Other Long-Term Liabilities $167.0K $179.0K $0.00
YoY Change 67.0% 21.77% -100.0%
Total Long-Term Liabilities $167.0K $179.0K $8.800M
YoY Change -98.93% 21.77% -76.53%
TOTAL LIABILITIES
Total Short-Term Liabilities $26.40M $34.70M $40.30M
Total Long-Term Liabilities $167.0K $179.0K $8.800M
Total Liabilities $27.69M $43.06M $49.10M
YoY Change -42.44% -21.0% 2.29%
SHAREHOLDERS EQUITY
Retained Earnings -$382.7M -$376.7M
YoY Change 10.97%
Common Stock $151.0K $71.00K
YoY Change -67.13%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $76.90M $69.26M $67.00M
YoY Change
Total Liabilities & Shareholders Equity $104.6M $112.3M $116.1M
YoY Change 9.52% 9.23% 14.95%

Cashflow Statement

Concept 2017 Q1 2016 Q4 2016 Q3
OPERATING ACTIVITIES
Net Income -$5.934M -$2.290M -$9.849M
YoY Change 64.6% -71.23% 51.08%
Depreciation, Depletion And Amortization $1.680M $1.710M $1.760M
YoY Change 3.7% 2.4% 8.64%
Cash From Operating Activities -$8.047M -$4.310M -$4.840M
YoY Change 46.31% -39.72% -20.92%
INVESTING ACTIVITIES
Capital Expenditures $673.0K -$420.0K $675.0K
YoY Change -70.05% -64.71% 603.13%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities -$673.0K -$420.0K -$670.0K
YoY Change -70.09% -64.71% 570.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $11.04M $15.60M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.225M 1.550M 13.96M
YoY Change -300.82% -83.1% -12790.91%
NET CHANGE
Cash From Operating Activities -8.047M -4.310M -4.840M
Cash From Investing Activities -673.0K -420.0K -670.0K
Cash From Financing Activities 1.225M 1.550M 13.96M
Net Change In Cash -7.495M -3.180M 8.450M
YoY Change -10.35% -483.13% -233.49%
FREE CASH FLOW
Cash From Operating Activities -$8.047M -$4.310M -$4.840M
Capital Expenditures $673.0K -$420.0K $675.0K
Free Cash Flow -$8.720M -$3.890M -$5.515M
YoY Change 12.56% -34.73% -11.28%

Facts In Submission

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2611000
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626000
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0
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0
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4036683
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2791422
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1102373
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2559217
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21000
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17000
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2000
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2000
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10000000
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CommonStockVotingRights
The holders of the Company’s common stock have one vote per share.
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PercentageOfVotingPowerRequiredForAmendment
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ProceedsFromIssuanceOfCommonStock
9500000
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StockIssuedDuringPeriodSharesNewIssues
186071
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ProceedsFromIssuanceOfCommonStockNet
26400000
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ProceedsFromIssuanceOfCommonStock
6700000
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102500
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ProceedsFromIssuanceOfCommonStock
9970000
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CommonStockUnitsIssued
215000
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ProceedsFromIssuanceOfCommonStock
17200000
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ProceedsFromIssuanceOfCommonStock
18000000
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0
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P1Y
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UnderwritingDiscountsCommissionsAndOtherOfferingCosts
2000000
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41667
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ProceedsFromIssuanceOfCommonStock
57400000
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1103766
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AllocatedShareBasedCompensationExpense
886000
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AllocatedShareBasedCompensationExpense
2647000
CY2014 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2860000
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0149
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0162
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0174
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
1.0670
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
1.0689
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.7113
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SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y9M7D
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y9M7D
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y9M
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
5.66
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
35.40
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
267.00
CY2016 gevo Share Based Compensation Options Estimated Forfeiture Rates Range Lower Limit
ShareBasedCompensationOptionsEstimatedForfeitureRatesRangeLowerLimit
0.00
CY2016 gevo Share Based Compensation Options Estimated Forfeiture Rates Range Upper Limit
ShareBasedCompensationOptionsEstimatedForfeitureRatesRangeUpperLimit
0.05
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
24089
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
1250
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
8424
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
16915
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
9095
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
16915
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
535.80
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
5.66
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
951.23
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
289.73
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
504.80
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
289.73
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y6M15D
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y7M10D
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y6M15D
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
0
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
0
CY2016 us-gaap Deferred Compensation Arrangement With Individual Maximum Contractual Term1
DeferredCompensationArrangementWithIndividualMaximumContractualTerm1
P10Y
CY2016 gevo Tax Credit Carryforward Expiration Year
TaxCreditCarryforwardExpirationYear
2036
CY2016Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
133514000
CY2015Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
123647000
CY2014Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
115870000
CY2016Q4 gevo Deferred Tax Assets Tax Credits
DeferredTaxAssetsTaxCredits
3482000
CY2015Q4 gevo Deferred Tax Assets Tax Credits
DeferredTaxAssetsTaxCredits
5610000
CY2014Q4 gevo Deferred Tax Assets Tax Credits
DeferredTaxAssetsTaxCredits
6047000
CY2016Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
2319000
CY2015Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
4804000
CY2014Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
-2478000
CY2016Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
139315000
CY2014Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
119439000
CY2015Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
134061000
CY2016 gevo Interest Expense Including Debt Issuance Costs
InterestExpenseIncludingDebtIssuanceCosts
7837000
CY2015 gevo Interest Expense Including Debt Issuance Costs
InterestExpenseIncludingDebtIssuanceCosts
8243000
CY2016Q4 us-gaap Capital Leases Future Minimum Payments Due
CapitalLeasesFutureMinimumPaymentsDue
167000
CY2016Q4 gevo Total Leases Future Minimum Payments Due Current
TotalLeasesFutureMinimumPaymentsDueCurrent
1710000
CY2016Q4 gevo Total Leases Future Minimum Payments Due In Two Years
TotalLeasesFutureMinimumPaymentsDueInTwoYears
1421000
CY2016Q4 gevo Total Leases Future Minimum Payments Due In Three Years
TotalLeasesFutureMinimumPaymentsDueInThreeYears
907000
CY2016Q4 gevo Total Leases Future Minimum Payments Due In Four Years
TotalLeasesFutureMinimumPaymentsDueInFourYears
394000
CY2016 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.141
CY2015 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.352
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-0.360
CY2016 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
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TotalLeasesFutureMinimumPaymentsDueInFiveYears
200000
CY2016Q4 gevo Total Leases Future Minimum Payments Due
TotalLeasesFutureMinimumPaymentsDue
4632000
CY2016Q4 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
0
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NumberOfOperatingSegments
2
CY2014Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
119439000
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2016 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350
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EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350
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EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350
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EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.029
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EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.054
CY2014 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.045
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EffectiveIncomeTaxRateReconciliationTaxCredits
0.058
CY2015 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.012
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EffectiveIncomeTaxRateReconciliationTaxCredits
0.013
CY2016 gevo Effective Income Tax Rate Reconciliation Permanent Differences
EffectiveIncomeTaxRateReconciliationPermanentDifferences
-0.180
CY2015 gevo Effective Income Tax Rate Reconciliation Permanent Differences
EffectiveIncomeTaxRateReconciliationPermanentDifferences
-0.040
CY2014 gevo Effective Income Tax Rate Reconciliation Permanent Differences
EffectiveIncomeTaxRateReconciliationPermanentDifferences
-0.022
CY2015 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2014 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2016 gevo Defined Contribution Plan Service Period For Eligibility
DefinedContributionPlanServicePeriodForEligibility
P3M
CY2016 gevo Lease Expiration Month And Year
LeaseExpirationMonthAndYear
2021-07
CY2016 gevo Lease Term Expiration Period
LeaseTermExpirationPeriod
P12M
CY2016 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
1700000
CY2015 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
1600000
CY2014 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
500000
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
1543000
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
1421000
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OperatingLeasesFutureMinimumPaymentsDueInThreeYears
907000
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
394000
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
200000
CY2016Q4 us-gaap Capital Leases Future Minimum Payments Due Current
CapitalLeasesFutureMinimumPaymentsDueCurrent
167000
CY2014 gevo Interest Expense Including Debt Issuance Costs
InterestExpenseIncludingDebtIssuanceCosts
12024000
CY2016 gevo Intercompany Sales
IntercompanySales
200000
CY2015 gevo Intercompany Sales
IntercompanySales
200000
CY2016 gevo Nasdaq Listing Minimum Bid Price Requirement Description
NASDAQListingMinimumBidPriceRequirementDescription
In January 2017, the Company received notice from The NASDAQ Stock Market LLC that effective January 20, 2017 it had regained compliance with the NASDAQ Capital Market’s minimum bid price continued listing requirement of at least ten consecutive days with a closing bid price of its common stock in excess of $1.00.

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