GeoVax Labs, Inc. (GOVX) Income Statement
GOVX 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsGOVX revenue and net income
Where GOVX's revenue goes
2025Each bar shows an amount and its share of revenue. GOVX kept −862.3% of revenue as net income.
GOVX profit margins
GOVX growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −37.1% | +213.2% | +6.4% | +19.2% |
| Gross profit | −505.1% | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
GOVX quarterly EPS vs estimates
GeoVax Labs beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: November 12, 2026 (estimate $-1.02).
GOVX income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.5M | $4.0M | $0 | $81,000 | $385,000 | $1.8M | $1.2M | $963,000 | $1.1M | $828,918 |
| Cost of revenue | $18.1M | $95,368 | $20.7M | $56,284 | $15.6M | $2.4M | $1.9M | $1.9M | $2.0M | $2.0M |
| Gross profit | −$15.6M | $3.9M | −$20.7M | $81,000 | $385,000 | $1.8M | $1.2M | −$915,652 | −$942,080 | −$1.1M |
| Research & development | $18.1M | $23.7M | $20.7M | $9.1M | $15.6M | $2.4M | $1.9M | $1.9M | $2.0M | $2.0M |
| Sales, general & admin | $6.0M | $5.4M | $6.0M | $5.0M | $3.6M | $2.2M | $1.6M | $1.6M | $1.2M | $2.1M |
| Total operating expenses | $6.0M | $29.0M | $6.0M | $14.1M | $19.1M | $4.6M | $3.5M | $3.5M | $3.2M | $4.1M |
| Operating income | −$21.6M | −$25.1M | −$26.7M | −$14.0M | −$18.7M | −$2.8M | −$2.4M | −$2.6M | −$2.2M | −$3.3M |
| Interest income | $174,276 | $173,359 | $678,527 | $7,439 | $4,736 | $2,271 | $6,359 | $5,213 | $4,286 | $1,666 |
| Interest expense | $0 | $21,375 | $0 | $56,845 | $1,286 | $143,524 | $4,495 | $2,590 | $0 | $0 |
| Income before taxes | −$21.5M | −$25.0M | −$26.0M | −$14.0M | −$18.6M | −$3.0M | −$2.4M | −$2.6M | −$2.2M | −$3.3M |
| Income taxes | — | — | $1 | −$7,439 | −$38,521 | −$19,656 | $4,495 | $5,213 | $0 | $0 |
| Net income | −$21.5M | −$25.0M | −$26.0M | −$14.0M | −$18.5M | −$2.9M | −$2.4M | −$2.6M | −$2.2M | −$3.3M |
| EBITDA | −$21.4M | −$24.9M | −$25.9M | −$14.0M | −$18.7M | −$2.8M | −$2.4M | −$2.5M | −$2.1M | −$3.2M |
| EPS (diluted) | −$27.75 | −$75.27 | −$357.25 | −$258.95 | −$197.52 | $265.36 | −$1507202.29 | −$1200004.04 | −$2200000.01 | −$3749302.88 |
| Gross margin | −628.0% | 97.6% | — | 100.0% | 100.0% | 100.0% | 100.0% | −95.1% | −87.6% | −137.8% |
| Operating margin | −869.3% | −635.8% | — | −17,319.8% | −4,869.1% | −154.5% | −201.8% | −266.1% | −202.2% | −394.9% |
| Net margin | −862.3% | −632.0% | — | −17,301.9% | −4,813.4% | −161.2% | −201.6% | −265.8% | −201.8% | −394.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $852,282 | $1.6M | $864,415 | $2.8M | $300,677 | $0 | $103,912 | $0 |
| Cost of revenue | $12,076 | $3.9M | — | $5.0M | $4.7M | $5.4M | $21,641 | $7.4M | $4.3M | $19,576 | $22,213 | $6.9M |
| Gross profit | −$12,076 | −$3.9M | — | −$5.0M | −$3.9M | −$3.7M | $842,774 | −$4.6M | −$4.0M | −$19,576 | −$22,213 | −$6.9M |
| Research & development | $3.1M | $3.9M | $3.0M | $5.0M | $4.7M | $5.4M | $7.6M | $7.4M | $4.3M | $4.4M | $6.2M | $6.9M |
| Sales, general & admin | $1.3M | $1.4M | $1.4M | $1.3M | $1.5M | $1.7M | $1.6M | $1.2M | $1.1M | $1.5M | $1.5M | $1.7M |
| Total operating expenses | $4.4M | $1.4M | $4.4M | $1.3M | $1.5M | $1.7M | $9.2M | $1.2M | $1.1M | $5.9M | $7.7M | $1.7M |
| Operating income | −$4.4M | −$5.3M | −$4.4M | −$6.4M | −$5.4M | −$5.4M | −$8.3M | −$5.9M | −$5.1M | −$5.9M | −$7.7M | −$8.6M |
| Interest income | $15,494 | $10,960 | $23,333 | $54,301 | $49,123 | $47,519 | $81,748 | $53,191 | $5,471 | $32,949 | $101,342 | $190,936 |
| Interest expense | — | — | $0 | $0 | $0 | — | $0 | $14,083 | $7,292 | — | $232,698 | $0 |
| Income before taxes | −$4.4M | −$5.3M | −$4.4M | −$6.3M | −$5.4M | −$5.4M | −$8.3M | −$5.8M | −$5.1M | −$5.9M | −$7.6M | −$8.4M |
| Income taxes | — | — | — | — | — | — | — | — | −$3 | $4 | $232,698 | $56,905 |
| Net income | −$4.4M | −$5.3M | −$4.4M | −$6.3M | −$5.4M | −$5.4M | −$8.3M | −$5.8M | −$5.1M | −$5.9M | −$7.6M | −$8.4M |
| EBITDA | −$4.4M | −$5.2M | −$4.4M | −$6.3M | −$5.4M | −$5.3M | −$8.2M | −$5.8M | −$5.0M | −$5.8M | −$7.6M | −$8.4M |
| EPS (diluted) | −$0.97 | −$2.62 | — | −$7.75 | −$8.75 | −$11.25 | −$0.30 | −$22.75 | −$49.75 | −$2.47 | −$98.50 | −$120.00 |
| Gross margin | — | — | — | — | −454.9% | −227.1% | 97.5% | −165.4% | −1,322.4% | — | −21.4% | — |
| Operating margin | — | — | — | — | −635.8% | −330.2% | −965.3% | −209.9% | −1,683.6% | — | −7,404.1% | — |
| Net margin | — | — | — | — | −630.0% | −327.3% | −955.9% | −208.5% | −1,684.2% | — | −7,306.6% | — |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in GOVX's financial statements (latest annual report filed April 15, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
GOVX financial results
In fiscal year 2025 (ended December 31, 2025), GeoVax Labs reported revenue of $2.5 million, down 37.1% from the year before. It had a net loss of $21.5 million, a net profit margin of −862.3%. Diluted earnings per share came to −$27.75. Over five years revenue grew at an average rate of 6.4% a year.
See the GOVX stock overview for the latest quote and news, or the GOVX chart for price history and technical indicators.
GOVX income statement FAQ
What is GeoVax Labs's annual revenue?
GeoVax Labs reported total revenue of $2.5 million for fiscal year 2025, which ended on December 31, 2025. That was down 37.1% from $4.0 million the previous year.
Is GeoVax Labs profitable?
No. GeoVax Labs reported a net loss of $21.5 million in fiscal 2025, a net profit margin of −862.3%; its operating margin was −869.3%.
What is GeoVax Labs's gross margin?
GeoVax Labs's gross margin was −628.0% in fiscal 2025: for every $100 of revenue, GeoVax Labs kept $-628 after the direct cost of its products and services.
How much does GeoVax Labs spend on research and development?
GeoVax Labs spent $18.1 million on research and development in fiscal 2025, 728.0% of revenue.
How fast is GeoVax Labs growing?
Revenue grew 6.4% a year on average over the last five fiscal years, from $1.8 million to $2.5 million.
What are GeoVax Labs's earnings per share?
GeoVax Labs earned $-27.75 per diluted share in fiscal 2025, compared with $-75.27 a year earlier.
When will GeoVax Labs report its next earnings?
GeoVax Labs is expected to report results for the quarter ending September 30, 2026 on November 12, 2026.
When does GeoVax Labs's fiscal year end?
GeoVax Labs's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on April 15, 2026.