Verde Clean Fuels, Inc. (VGAS) Income Statement
VGAS 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsVGAS revenue and net income
VGAS profit margins
VGAS growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | — | — | — | — |
| Gross profit | — | — | — | — |
| 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.
VGAS quarterly EPS vs estimates
Next report: November 12, 2026.
VGAS income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $247,884 | $0 | $0 |
| Cost of revenue | $368,000 | $322,090 | $544,468 | $247,884 | — | — |
| Gross profit | −$368,000 | −$322,090 | −$544,468 | −$247,884 | — | — |
| Research & development | $591,000 | $448,266 | $327,359 | $308,033 | $509,545 | $262,582 |
| Sales, general & admin | $11.9M | $11.2M | $9.4M | $4.5M | $12.4M | $3.3M |
| Total operating expenses | $12.2M | $11.3M | $11.3M | $4.6M | $12.9M | $3.5M |
| Operating income | −$12.5M | −$11.7M | −$11.8M | −$4.8M | −$12.9M | −$3.5M |
| Interest expense | — | $0 | $236,699 | $7,363 | — | — |
| Income before taxes | −$14.0M | −$10.5M | −$10.3M | $2.7M | −$12.9M | −$3.5M |
| Income taxes | $106,000 | $51,465 | $166,265 | −$15.1M | −$17,825 | −$3,520 |
| Net income | −$14.1M | −$3.3M | −$2.7M | $2.7M | −$12.9M | −$3.5M |
| EBITDA | −$13.7M | −$10.1M | −$9.6M | $3.0M | −$225,429 | −$3.5M |
| EPS (diluted) | −$0.39 | −$0.53 | −$0.41 | −$0.14 | −$0.02 | −$0.29 |
| Gross margin | — | — | — | −100.0% | — | — |
| Operating margin | — | — | — | −1,949.2% | — | — |
| Net margin | — | — | — | 1,097.0% | — | — |
| 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 | $0 | $0 | $1.5M | $0 | $0 | $0 | $0 | $0 |
| Cost of revenue | — | $103,000 | $95,000 | $92,561 | $90,918 | $89,521 | $84,925 | $83,508 | $79,669 | $73,988 | $198,344 | $139,802 |
| Gross profit | — | −$103,000 | −$95,000 | −$92,561 | −$90,918 | −$89,521 | −$84,925 | −$83,508 | −$79,669 | −$73,988 | −$198,344 | −$139,802 |
| Research & development | $165,000 | $181,000 | $134,000 | $128,000 | $145,242 | $183,000 | $100,914 | $91,303 | $173,020 | $85,835 | $82,406 | $78,314 |
| Sales, general & admin | $2.4M | $2.7M | $3.1M | $2.8M | $3.1M | $3.0M | $2.7M | $2.7M | $3.0M | $2.8M | $2.3M | $2.5M |
| Total operating expenses | $2.5M | $2.8M | $7.2M | $2.8M | $3.2M | $3.2M | $2.8M | $2.7M | $3.1M | $2.8M | $2.2M | $2.4M |
| Operating income | −$2.5M | −$2.9M | −$7.2M | −$2.9M | −$3.2M | −$3.2M | −$2.8M | −$2.8M | −$3.2M | −$2.9M | −$2.4M | −$2.6M |
| Interest expense | — | — | — | — | — | — | $0 | $0 | $0 | $0 | $0 | $67,430 |
| Income before taxes | −$2.0M | −$2.3M | −$6.6M | −$2.2M | −$2.6M | −$2.7M | −$2.6M | −$2.5M | −$2.8M | −$2.5M | −$2.2M | −$2.5M |
| Income taxes | −$106,000 | $46,000 | −$23,000 | $104,000 | −$28,200 | $53,000 | $65,331 | −$1.7M | −$13,866 | −$1.8M | $47,079 | $119,186 |
| Net income | −$907,000 | −$1.2M | −$3.3M | −$1.2M | −$1.3M | −$1.2M | −$880,546 | −$777,732 | −$903,707 | −$772,371 | −$646,787 | −$773,192 |
| EBITDA | −$1.9M | −$2.2M | −$3.1M | −$2.1M | −$2.5M | −$3.1M | −$2.5M | −$2.4M | −$2.8M | −$2.5M | −$2.0M | −$2.3M |
| EPS (diluted) | −$0.04 | −$0.05 | −$0.17 | −$0.06 | −$0.07 | −$0.08 | −$0.14 | −$0.12 | −$0.14 | −$0.13 | −$0.07 | −$0.13 |
| Gross margin | — | — | — | — | — | — | −5.6% | — | — | — | — | — |
| Operating margin | — | — | — | — | — | — | −186.2% | — | — | — | — | — |
| Net margin | — | — | — | — | — | — | −57.8% | — | — | — | — | — |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in VGAS's financial statements (latest annual report filed March 27, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
VGAS financial results
Verde Clean Fuels reported no revenue in fiscal year 2025 (ended December 31, 2025). It had a net loss of $14.1 million. Diluted earnings per share came to −$0.39.
See the VGAS stock overview for the latest quote and news, or the VGAS chart for price history and technical indicators.
VGAS income statement FAQ
Does Verde Clean Fuels have revenue?
Verde Clean Fuels reported no revenue for fiscal year 2025, which ended on December 31, 2025.
Is Verde Clean Fuels profitable?
No. Verde Clean Fuels reported a net loss of $14.1 million in fiscal 2025.
How much does Verde Clean Fuels spend on research and development?
Verde Clean Fuels spent $0.6 million on research and development in fiscal 2025.
What are Verde Clean Fuels's earnings per share?
Verde Clean Fuels earned $-0.39 per diluted share in fiscal 2025, compared with $-0.53 a year earlier.
When will Verde Clean Fuels report its next earnings?
Verde Clean Fuels is expected to report results for the quarter ending September 30, 2026 on November 12, 2026.
When does Verde Clean Fuels's fiscal year end?
Verde Clean Fuels's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 27, 2026.