GeoVax Labs, Inc. (GOVX) 10-Year Financial Performance & Capital Metrics

GOVX • • Industrial / General

HealthcareBiotechnologyInfectious DiseasesHepatitis & Viral Infections

AboutGeoVax Labs, Inc., a clinical-stage biotechnology company, develops human vaccines and immunotherapies against infectious diseases and cancers using modified vaccinia ankara virus-like particle vaccine platform. It is developing various preventive vaccines against (COVID-19), human immunodeficiency virus (HIV); Zika virus; malaria; and hemorrhagic fever viruses, such as Ebola, Sudan, Marburg, and Lassa, as well as therapeutic vaccines for HIV, chronic Hepatitis B infections, and solid tumor cancers. The company has collaboration and partnership agreements with the National Institute of Allergy and Infectious Diseases of the National Institutes of Health; Centers for Disease Control and Prevention; U.S. Department of Defense; Emory University; University of Pittsburgh; and the Burnet Institute. GeoVax Labs, Inc. was incorporated in 1988 and is based in Smyrna, Georgia.Show more

Revenue $4M
EBITDA -$25M +6.1%
Net Income -$25M +3.8%
EPS (Diluted) -4.82 +52.8%
Gross Margin 97.59%
EBITDA Margin -633.42%
Operating Margin -635.83%
Net Margin -631.98%
ROE -462.31% -188.1%
ROIC -
Debt/Equity -
Interest Coverage -1176.34

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 98 (top 2%)
✓Strong 5Y sales CAGR of 27.5%

✗Weaknesses

✗Negative free cash flow
✗Shares diluted 100.0% in last year
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y16.18%

5Y27.45%

3Y117.28%

TTM8.52%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-4.06%

EPS CAGR

10Y-

5Y-

3Y-

TTM76.92%

ROCE

10Y Avg-243.3%

5Y Avg-204.15%

3Y Avg-238.5%

Latest-465.12%

Peer Comparison

Hepatitis & Viral Infections

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ADMAADMA Biologics, Inc.	4.16B	17.50	21.60	65.15%	42.87%	48.57%	2.64%	0.24
CVACCureVac N.V.	1.05B	4.66	6.47	8.96%	37.93%	33.02%	7.95%	0.06
DWTXDogwood Therapeutics, Inc.	83.24M	2.80	-0.22			-49.37%		0.24
ALGSAligos Therapeutics, Inc.	44.22M	8.26	-0.39	-74.6%	-32.68%	-120.37%
INOInovio Pharmaceuticals, Inc.	108.55M	1.58	-0.40	-73.83%	-592.82%	-115.42%		0.17
BRNSBarinthus Biotherapeutics plc	29.81M	0.73	-0.47	17.66%	-408%	-89.73%		0.09
COCPCocrystal Pharma, Inc.	15.3M	1.11	-0.65			-126.11%		0.19
KLRSKalaris Therapeutics Inc	165.7M	8.86	-0.76			-170.84%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	428.08K	828.92K	1.08M	963K	1.18M	1.82M	385.5K	81.53K	0	3.95M
Revenue Growth %	-0.52%	0.94%	0.3%	-0.1%	0.22%	0.55%	-0.79%	-0.79%	-1%	-
Cost of Goods Sold+	1.69M	1.97M	2.02M	1.88M	0	0	0	9.12M	20.72M	95.37K
COGS % of Revenue	3.96%	2.38%	1.88%	1.95%	-	-	-	111.91%	-	0.02%
Gross Profit+	-1.27M	-1.14M	-942.08K	-915.65K	1.18M	1.82M	385.5K	-9.04M	-20.72M	3.86M
Gross Margin %	-2.96%	-1.38%	-0.88%	-0.95%	1%	1%	1%	-110.91%	-	0.98%
Gross Profit Growth %	-0.36%	0.1%	0.18%	0.03%	2.28%	0.55%	-0.79%	-24.46%	-1.29%	1.19%
Operating Expenses+	3.12M	4.1M	3.25M	3.53M	3.55M	4.64M	19.13M	4.99M	6.02M	29M
OpEx % of Revenue	7.29%	4.95%	3.02%	3.66%	3.02%	2.54%	49.63%	61.17%	-	7.33%
Selling, General & Admin	1.43M	2.13M	1.23M	1.65M	1.64M	2.2M	3.58M	4.99M	5.95M	5.39M
SG&A % of Revenue	3.34%	2.57%	1.15%	1.71%	1.39%	1.2%	9.28%	61.17%	-	1.36%
Research & Development	1.69M	1.97M	2.02M	1.88M	1.91M	2.44M	15.55M	9.12M	20.72M	23.71M
R&D % of Revenue	3.96%	2.38%	1.88%	1.95%	1.62%	1.34%	40.35%	111.91%	-	6%
Other Operating Expenses	0	0	0	3K	0	0	0	-9.12M	-20.65M	-95.37K
Operating Income+	-2.69M	-3.27M	-2.17M	-2.56M	-2.37M	-2.82M	-18.75M	-14.03M	-26.74M	-25.14M
Operating Margin %	-6.29%	-3.95%	-2.02%	-2.66%	-2.02%	-1.54%	-48.63%	-172.07%	-	-6.36%
Operating Income Growth %	0.02%	-0.21%	0.34%	-0.18%	0.07%	-0.19%	-5.65%	0.25%	-0.91%	0.06%
EBITDA+	-2.67M	-3.24M	-2.15M	-2.54M	-2.36M	-2.8M	-18.71M	-13.97M	-26.67M	-25.05M
EBITDA Margin %	-6.23%	-3.91%	-2%	-2.64%	-2.01%	-1.53%	-48.53%	-171.38%	-	-6.33%
EBITDA Growth %	0%	-0.22%	0.34%	-0.18%	0.07%	-0.18%	-5.69%	0.25%	-0.91%	0.06%
D&A (Non-Cash Add-back)	28.93K	28.78K	28.03K	19.8K	8.35K	19.66K	38.52K	56.28K	74.17K	95.37K
EBIT	-2.69M	-3.27M	-2.17M	-2.56M	-2.37M	-2.81M	-18.57M	-14.03M	-26.74M	-24.97M
Net Interest Income+	5.46K	1.67K	4.29K	2.62K	1.86K	-141.25K	3.45K	7.44K	776.18K	151.98K
Interest Income	5.46K	1.67K	4.29K	5.21K	6.36K	2.27K	4.74K	7.44K	776.18K	173.36K
Interest Expense	0	0	0	2.59K	4.5K	143.52K	1.29K	0	0	21.38K
Other Income/Expense	5.46K	1.67K	4.29K	2.62K	1.86K	-141.25K	175.51K	7.44K	776.18K	151.98K
Pretax Income+	-2.69M	-3.27M	-2.17M	-2.56M	-2.37M	-2.96M	-18.57M	-14.02M	-25.97M	-24.99M
Pretax Margin %	-6.28%	-3.95%	-2.02%	-2.66%	-2.02%	-1.62%	-48.17%	-171.98%	-	-6.32%
Income Tax+	0	0	0	5.21K	0	0	0	0	0	0
Effective Tax Rate %	1%	1%	1%	1%	1%	1%	1%	1%	1%	1%
Net Income+	-2.69M	-3.27M	-2.17M	-2.56M	-2.37M	-2.96M	-18.57M	-14.02M	-25.97M	-24.99M
Net Margin %	-6.28%	-3.95%	-2.02%	-2.66%	-2.02%	-1.62%	-48.17%	-171.98%	-	-6.32%
Net Income Growth %	0.02%	-0.22%	0.34%	-0.18%	0.07%	-0.25%	-5.28%	0.24%	-0.85%	0.04%
Net Income (Continuing)	-2.69M	-3.27M	-2.17M	-2.56M	-2.37M	-2.96M	-18.57M	-14.02M	-25.97M	-24.99M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-1.06	-1.29	-0.85	-1.01	-0.94	-1.16	-7.30	-5.52	-10.22	-4.82
EPS Growth %	0.02%	-0.22%	0.34%	-0.19%	0.07%	-0.23%	-5.29%	0.24%	-0.85%	0.53%
EPS (Basic)	-1.06	-1.29	-0.85	-1.01	-0.94	-1.16	-7.30	-5.52	-10.22	-4.82
Diluted Shares Outstanding	2.54M	2.54M	2.54M	2.54M	2.54M	2.54M	2.54M	2.54M	2.54M	5.19M
Basic Shares Outstanding	2.54M	2.54M	2.54M	2.54M	2.54M	2.54M	2.54M	2.54M	2.54M	5.19M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.24M	544.38K	448.07K	620K	447.26K	10.23M	11.63M	28.94M	7.89M	7.93M
Cash & Short-Term Investments	1.06M	454.03K	312.73K	260K	283.34K	9.88M	11.42M	27.61M	6.45M	5.51M
Cash Only	1.06M	454.03K	312.73K	260K	283.34K	9.88M	11.42M	27.61M	6.45M	5.51M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	119.98K	28.07K	59.76K	121.81K	68.6K	182.66K	49.01K	0	0	659.41K
Days Sales Outstanding	102.3	12.36	20.28	46.17	21.29	36.56	46.4	-	-	60.86
Inventory	0	0	0	-121.81K	0	0	-49.01K	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	0	0	0	0	0	-352	48.76K	0	0	0
Total Non-Current Assets+	94.62K	65.84K	42.16K	22K	21.62K	159K	168K	2.41M	1.4M	220.98K
Property, Plant & Equipment	83.61K	54.83K	31.15K	22K	10.61K	159K	168K	2.41M	209.69K	149.97K
Fixed Asset Turnover	5.12x	15.12x	34.52x	43.77x	110.87x	11.47x	2.29x	0.03x	-	26.37x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	80K	70K	60K
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	11.01K	11.01K	11.01K	0	11.01K	0	0	-80K	1.12M	11.01K
Total Assets+	1.33M	610.22K	490.24K	642K	468.88K	10.39M	11.8M	31.35M	9.28M	8.16M
Asset Turnover	0.32x	1.36x	2.19x	1.50x	2.51x	0.18x	0.03x	0.00x	-	0.48x
Asset Growth %	-0%	-0.54%	-0.2%	0.31%	-0.27%	21.17%	0.13%	1.66%	-0.7%	-0.12%
Total Current Liabilities+	126.99K	369.85K	811.29K	1.62M	2.02M	810.31K	5.44M	4.75M	3.52M	3.11M
Accounts Payable	100.94K	75.61K	77.58K	125.86K	152.65K	267.7K	2.06M	1.75M	2.8M	1.85M
Days Payables Outstanding	21.76	14	14.04	24.45	-	-	-	69.92	49.37	7.08K
Short-Term Debt	0	0	0	260.42K	12.5K	183.33K	0	0	0	0
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	1.3K	0	0	0	0	0	0	0	0	270.88K
Current Ratio	9.74x	1.47x	0.55x	0.38x	0.22x	12.63x	2.14x	6.10x	2.24x	2.55x
Quick Ratio	9.74x	1.47x	0.55x	0.46x	0.22x	12.63x	2.15x	6.10x	2.24x	2.55x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	0	0	0	39.58K	27.24K	14.74K	2M	0	0	0
Long-Term Debt	0	0	0	39.58K	27.24K	14.74K	0	0	0	0
Capital Lease Obligations	0	0	0	0	0	0	0	0	0	0
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	0	0	0	0	0	2M	0	0	0
Total Liabilities	126.99K	369.85K	811.29K	1.66M	2.04M	825K	7.43M	4.75M	3.52M	3.11M
Total Debt+	0	0	0	300K	39.74K	198.06K	0	0	0	0
Net Debt	-1.06M	-454.03K	-312.73K	40K	-243.6K	-9.69M	-11.42M	-27.61M	-6.45M	-5.51M
Debt / Equity	-	-	-	-	-	0.02x	-	-	-	-
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-	-	-	-989.58x	-527.81x	-19.63x	-14576.85x	-	-	-1176.34x
Total Equity+	1.2M	240.37K	-321.06K	-1.02M	-1.57M	9.57M	4.36M	26.6M	5.76M	5.05M
Equity Growth %	0.05%	-0.8%	-2.34%	-2.18%	-0.54%	7.08%	-0.54%	5.1%	-0.78%	-0.12%
Book Value per Share	0.47	0.09	-0.13	-0.40	-0.62	3.77	1.72	10.47	2.27	0.97
Total Shareholders' Equity	1.2M	240.37K	-321.06K	-1.02M	-1.57M	9.57M	4.36M	26.6M	5.76M	5.05M
Common Stock	31.95K	55.23K	106.74K	218.9K	300	3.83K	6.38K	26.34K	1.98K	10.54K
Retained Earnings	-32.47M	-35.75M	-37.92M	-40.48M	-42.85M	-45.81M	-64.38M	-78.4M	-104.36M	-129.36M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	0	0	0	-663.25K	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-2.71M	-1.95M	-1.69M	-1.54M	-1.4M	-2.75M	-11.2M	-19.03M	-25.17M	-24.68M
Operating CF Margin %	-6.32%	-2.35%	-1.57%	-1.6%	-1.19%	-1.51%	-29.04%	-233.43%	-	-6.24%
Operating CF Growth %	-0.2%	0.28%	0.13%	0.09%	0.09%	-0.97%	-3.07%	-0.7%	-0.32%	0.02%
Net Income	-2.69M	-3.27M	-2.17M	-2.56M	-2.37M	-2.96M	-18.57M	-14.02M	-25.97M	-24.99M
Depreciation & Amortization	28.93K	28.78K	28.03K	19.8K	8.35K	19.66K	38.52K	56.28K	74.17K	95.37K
Stock-Based Compensation	67.91K	967.67K	57.22K	469.72K	0	64.46K	369.99K	902.07K	1.07M	528.64K
Deferred Taxes	-67.91K	-967.67K	0	0	0	0	0	-3.65M	0	0
Other Non-Cash Items	67.91K	967.67K	-296.48K	18.26K	327.5K	124.19K	37.77K	3.65M	0	0
Working Capital Changes	-112.82K	329.13K	396.45K	527.54K	636.28K	-806	6.93M	-5.97M	-356K	-307.23K
Change in Receivables	-40.64K	91.9K	-31.68K	-62.06K	53.21K	-114.06K	133.66K	49.01K	0	-659.41K
Change in Inventory	0	0	0	0	0	114.06K	-133.66K	-49.01K	0	0
Change in Payables	-60.03M	-60.03M	441.44K	553.12M	639.28K	137.96B	6.81T	-2.69M	-1.23M	-412.55K
Cash from Investing+	-15.85K	-15.85M	-4.35K	0	-7.61K	-156.79K	-47.72K	-134.26K	-48.95K	-20.65K
Capital Expenditures	-15.85K	-15.85M	-4.35K	0	-7.61K	-156.79K	-47.72K	-134.26K	-48.95K	-20.65K
CapEx % of Revenue	0.04%	19.12%	0%	-	0.01%	0.09%	0.12%	1.65%	-	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	0	0	0	0	0	0	0	0
Cash from Financing+	2.68M	1.34M	1.55M	1.49M	1.43M	12.51M	12.78M	35.35M	4.06M	23.75M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	0	1.55M	0	0	2.5K	3.4M	7.63M	0	2.37M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-2.72M	-17.8M	-1.69M	-1.54M	-1.41M	-2.91M	-11.24M	-19.16M	-25.22M	-24.7M
FCF Margin %	-6.36%	-21.47%	-1.57%	-1.6%	-1.2%	-1.59%	-29.17%	-235.07%	-	-6.24%
FCF Growth %	-0.19%	-5.54%	0.9%	0.09%	0.09%	-1.07%	-2.87%	-0.7%	-0.32%	0.02%
FCF per Share	-1.07	-7.01	-0.67	-0.61	-0.55	-1.14	-4.43	-7.55	-9.93	-4.76
FCF Conversion (FCF/Net Income)	1.01x	0.59x	0.78x	0.60x	0.59x	0.93x	0.60x	1.36x	0.97x	0.99x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-228.8%	-452.84%	-	-	-	-74%	-266.6%	-90.57%	-160.47%	-462.31%
Return on Invested Capital (ROIC)	-1509.97%	-	-	-	-	-	-	-	-	-
Gross Margin	-295.51%	-137.76%	-87.61%	-95.08%	100%	100%	100%	-11090.88%	-	97.59%
Net Margin	-628.22%	-394.7%	-201.82%	-265.84%	-201.6%	-162.21%	-4817.19%	-17198.35%	-	-631.98%
Debt / Equity	-	-	-	-	-	0.02x	-	-	-	-
Interest Coverage	-	-	-	-989.58x	-527.81x	-19.63x	-14576.85x	-	-	-1176.34x
FCF Conversion	1.01x	0.59x	0.78x	0.60x	0.59x	0.93x	0.60x	1.36x	0.97x	0.99x
Revenue Growth	-51.52%	93.64%	29.72%	-10.44%	22.11%	55.09%	-78.86%	-78.85%	-100%	-

Revenue by Segment

	2022
NIH Grants	81.53K
NIH Grants Growth	-

Frequently Asked Questions

Growth & Financials

GeoVax Labs, Inc. (GOVX) reported $3.4M in revenue for fiscal year 2024. This represents a 32% decrease from $4.9M in 2011.

GeoVax Labs, Inc. (GOVX) grew revenue by 0.0% over the past year. Growth has been modest.

GeoVax Labs, Inc. (GOVX) reported a net loss of $25.3M for fiscal year 2024.

Dividend & Returns

GeoVax Labs, Inc. (GOVX) has a return on equity (ROE) of -462.3%. Negative ROE indicates the company is unprofitable.

GeoVax Labs, Inc. (GOVX) had negative free cash flow of $24.3M in fiscal year 2024, likely due to heavy capital investments.

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GeoVax Labs, Inc. (GOVX) 10-Year Financial Performance & Capital Metrics

GOVX • • Industrial / General

HealthcareBiotechnologyInfectious DiseasesHepatitis & Viral Infections

Revenue $4M
EBITDA -$25M +6.1%
Net Income -$25M +3.8%
EPS (Diluted) -4.82 +52.8%
Gross Margin 97.59%
EBITDA Margin -633.42%
Operating Margin -635.83%
Net Margin -631.98%
ROE -462.31% -188.1%
ROIC -
Debt/Equity -
Interest Coverage -1176.34

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 98 (top 2%)
✓Strong 5Y sales CAGR of 27.5%

✗Weaknesses

✗Negative free cash flow
✗Shares diluted 100.0% in last year
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y16.18%

5Y27.45%

3Y117.28%

TTM8.52%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-4.06%

EPS CAGR

10Y-

5Y-

3Y-

TTM76.92%

ROCE

10Y Avg-243.3%

5Y Avg-204.15%

3Y Avg-238.5%

Latest-465.12%

Peer Comparison

Hepatitis & Viral Infections

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ADMAADMA Biologics, Inc.	4.16B	17.50	21.60	65.15%	42.87%	48.57%	2.64%	0.24
CVACCureVac N.V.	1.05B	4.66	6.47	8.96%	37.93%	33.02%	7.95%	0.06
DWTXDogwood Therapeutics, Inc.	83.24M	2.80	-0.22			-49.37%		0.24
ALGSAligos Therapeutics, Inc.	44.22M	8.26	-0.39	-74.6%	-32.68%	-120.37%
INOInovio Pharmaceuticals, Inc.	108.55M	1.58	-0.40	-73.83%	-592.82%	-115.42%		0.17
BRNSBarinthus Biotherapeutics plc	29.81M	0.73	-0.47	17.66%	-408%	-89.73%		0.09
COCPCocrystal Pharma, Inc.	15.3M	1.11	-0.65			-126.11%		0.19
KLRSKalaris Therapeutics Inc	165.7M	8.86	-0.76			-170.84%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	428.08K	828.92K	1.08M	963K	1.18M	1.82M	385.5K	81.53K	0	3.95M
Revenue Growth %	-0.52%	0.94%	0.3%	-0.1%	0.22%	0.55%	-0.79%	-0.79%	-1%	-
Cost of Goods Sold+	1.69M	1.97M	2.02M	1.88M	0	0	0	9.12M	20.72M	95.37K
COGS % of Revenue	3.96%	2.38%	1.88%	1.95%	-	-	-	111.91%	-	0.02%
Gross Profit+	-1.27M	-1.14M	-942.08K	-915.65K	1.18M	1.82M	385.5K	-9.04M	-20.72M	3.86M
Gross Margin %	-2.96%	-1.38%	-0.88%	-0.95%	1%	1%	1%	-110.91%	-	0.98%
Gross Profit Growth %	-0.36%	0.1%	0.18%	0.03%	2.28%	0.55%	-0.79%	-24.46%	-1.29%	1.19%
Operating Expenses+	3.12M	4.1M	3.25M	3.53M	3.55M	4.64M	19.13M	4.99M	6.02M	29M
OpEx % of Revenue	7.29%	4.95%	3.02%	3.66%	3.02%	2.54%	49.63%	61.17%	-	7.33%
Selling, General & Admin	1.43M	2.13M	1.23M	1.65M	1.64M	2.2M	3.58M	4.99M	5.95M	5.39M
SG&A % of Revenue	3.34%	2.57%	1.15%	1.71%	1.39%	1.2%	9.28%	61.17%	-	1.36%
Research & Development	1.69M	1.97M	2.02M	1.88M	1.91M	2.44M	15.55M	9.12M	20.72M	23.71M
R&D % of Revenue	3.96%	2.38%	1.88%	1.95%	1.62%	1.34%	40.35%	111.91%	-	6%
Other Operating Expenses	0	0	0	3K	0	0	0	-9.12M	-20.65M	-95.37K
Operating Income+	-2.69M	-3.27M	-2.17M	-2.56M	-2.37M	-2.82M	-18.75M	-14.03M	-26.74M	-25.14M
Operating Margin %	-6.29%	-3.95%	-2.02%	-2.66%	-2.02%	-1.54%	-48.63%	-172.07%	-	-6.36%
Operating Income Growth %	0.02%	-0.21%	0.34%	-0.18%	0.07%	-0.19%	-5.65%	0.25%	-0.91%	0.06%
EBITDA+	-2.67M	-3.24M	-2.15M	-2.54M	-2.36M	-2.8M	-18.71M	-13.97M	-26.67M	-25.05M
EBITDA Margin %	-6.23%	-3.91%	-2%	-2.64%	-2.01%	-1.53%	-48.53%	-171.38%	-	-6.33%
EBITDA Growth %	0%	-0.22%	0.34%	-0.18%	0.07%	-0.18%	-5.69%	0.25%	-0.91%	0.06%
D&A (Non-Cash Add-back)	28.93K	28.78K	28.03K	19.8K	8.35K	19.66K	38.52K	56.28K	74.17K	95.37K
EBIT	-2.69M	-3.27M	-2.17M	-2.56M	-2.37M	-2.81M	-18.57M	-14.03M	-26.74M	-24.97M
Net Interest Income+	5.46K	1.67K	4.29K	2.62K	1.86K	-141.25K	3.45K	7.44K	776.18K	151.98K
Interest Income	5.46K	1.67K	4.29K	5.21K	6.36K	2.27K	4.74K	7.44K	776.18K	173.36K
Interest Expense	0	0	0	2.59K	4.5K	143.52K	1.29K	0	0	21.38K
Other Income/Expense	5.46K	1.67K	4.29K	2.62K	1.86K	-141.25K	175.51K	7.44K	776.18K	151.98K
Pretax Income+	-2.69M	-3.27M	-2.17M	-2.56M	-2.37M	-2.96M	-18.57M	-14.02M	-25.97M	-24.99M
Pretax Margin %	-6.28%	-3.95%	-2.02%	-2.66%	-2.02%	-1.62%	-48.17%	-171.98%	-	-6.32%
Income Tax+	0	0	0	5.21K	0	0	0	0	0	0
Effective Tax Rate %	1%	1%	1%	1%	1%	1%	1%	1%	1%	1%
Net Income+	-2.69M	-3.27M	-2.17M	-2.56M	-2.37M	-2.96M	-18.57M	-14.02M	-25.97M	-24.99M
Net Margin %	-6.28%	-3.95%	-2.02%	-2.66%	-2.02%	-1.62%	-48.17%	-171.98%	-	-6.32%
Net Income Growth %	0.02%	-0.22%	0.34%	-0.18%	0.07%	-0.25%	-5.28%	0.24%	-0.85%	0.04%
Net Income (Continuing)	-2.69M	-3.27M	-2.17M	-2.56M	-2.37M	-2.96M	-18.57M	-14.02M	-25.97M	-24.99M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-1.06	-1.29	-0.85	-1.01	-0.94	-1.16	-7.30	-5.52	-10.22	-4.82
EPS Growth %	0.02%	-0.22%	0.34%	-0.19%	0.07%	-0.23%	-5.29%	0.24%	-0.85%	0.53%
EPS (Basic)	-1.06	-1.29	-0.85	-1.01	-0.94	-1.16	-7.30	-5.52	-10.22	-4.82
Diluted Shares Outstanding	2.54M	2.54M	2.54M	2.54M	2.54M	2.54M	2.54M	2.54M	2.54M	5.19M
Basic Shares Outstanding	2.54M	2.54M	2.54M	2.54M	2.54M	2.54M	2.54M	2.54M	2.54M	5.19M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.24M	544.38K	448.07K	620K	447.26K	10.23M	11.63M	28.94M	7.89M	7.93M
Cash & Short-Term Investments	1.06M	454.03K	312.73K	260K	283.34K	9.88M	11.42M	27.61M	6.45M	5.51M
Cash Only	1.06M	454.03K	312.73K	260K	283.34K	9.88M	11.42M	27.61M	6.45M	5.51M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	119.98K	28.07K	59.76K	121.81K	68.6K	182.66K	49.01K	0	0	659.41K
Days Sales Outstanding	102.3	12.36	20.28	46.17	21.29	36.56	46.4	-	-	60.86
Inventory	0	0	0	-121.81K	0	0	-49.01K	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	0	0	0	0	0	-352	48.76K	0	0	0
Total Non-Current Assets+	94.62K	65.84K	42.16K	22K	21.62K	159K	168K	2.41M	1.4M	220.98K
Property, Plant & Equipment	83.61K	54.83K	31.15K	22K	10.61K	159K	168K	2.41M	209.69K	149.97K
Fixed Asset Turnover	5.12x	15.12x	34.52x	43.77x	110.87x	11.47x	2.29x	0.03x	-	26.37x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	80K	70K	60K
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	11.01K	11.01K	11.01K	0	11.01K	0	0	-80K	1.12M	11.01K
Total Assets+	1.33M	610.22K	490.24K	642K	468.88K	10.39M	11.8M	31.35M	9.28M	8.16M
Asset Turnover	0.32x	1.36x	2.19x	1.50x	2.51x	0.18x	0.03x	0.00x	-	0.48x
Asset Growth %	-0%	-0.54%	-0.2%	0.31%	-0.27%	21.17%	0.13%	1.66%	-0.7%	-0.12%
Total Current Liabilities+	126.99K	369.85K	811.29K	1.62M	2.02M	810.31K	5.44M	4.75M	3.52M	3.11M
Accounts Payable	100.94K	75.61K	77.58K	125.86K	152.65K	267.7K	2.06M	1.75M	2.8M	1.85M
Days Payables Outstanding	21.76	14	14.04	24.45	-	-	-	69.92	49.37	7.08K
Short-Term Debt	0	0	0	260.42K	12.5K	183.33K	0	0	0	0
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	1.3K	0	0	0	0	0	0	0	0	270.88K
Current Ratio	9.74x	1.47x	0.55x	0.38x	0.22x	12.63x	2.14x	6.10x	2.24x	2.55x
Quick Ratio	9.74x	1.47x	0.55x	0.46x	0.22x	12.63x	2.15x	6.10x	2.24x	2.55x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	0	0	0	39.58K	27.24K	14.74K	2M	0	0	0
Long-Term Debt	0	0	0	39.58K	27.24K	14.74K	0	0	0	0
Capital Lease Obligations	0	0	0	0	0	0	0	0	0	0
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	0	0	0	0	0	2M	0	0	0
Total Liabilities	126.99K	369.85K	811.29K	1.66M	2.04M	825K	7.43M	4.75M	3.52M	3.11M
Total Debt+	0	0	0	300K	39.74K	198.06K	0	0	0	0
Net Debt	-1.06M	-454.03K	-312.73K	40K	-243.6K	-9.69M	-11.42M	-27.61M	-6.45M	-5.51M
Debt / Equity	-	-	-	-	-	0.02x	-	-	-	-
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-	-	-	-989.58x	-527.81x	-19.63x	-14576.85x	-	-	-1176.34x
Total Equity+	1.2M	240.37K	-321.06K	-1.02M	-1.57M	9.57M	4.36M	26.6M	5.76M	5.05M
Equity Growth %	0.05%	-0.8%	-2.34%	-2.18%	-0.54%	7.08%	-0.54%	5.1%	-0.78%	-0.12%
Book Value per Share	0.47	0.09	-0.13	-0.40	-0.62	3.77	1.72	10.47	2.27	0.97
Total Shareholders' Equity	1.2M	240.37K	-321.06K	-1.02M	-1.57M	9.57M	4.36M	26.6M	5.76M	5.05M
Common Stock	31.95K	55.23K	106.74K	218.9K	300	3.83K	6.38K	26.34K	1.98K	10.54K
Retained Earnings	-32.47M	-35.75M	-37.92M	-40.48M	-42.85M	-45.81M	-64.38M	-78.4M	-104.36M	-129.36M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	0	0	0	-663.25K	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-2.71M	-1.95M	-1.69M	-1.54M	-1.4M	-2.75M	-11.2M	-19.03M	-25.17M	-24.68M
Operating CF Margin %	-6.32%	-2.35%	-1.57%	-1.6%	-1.19%	-1.51%	-29.04%	-233.43%	-	-6.24%
Operating CF Growth %	-0.2%	0.28%	0.13%	0.09%	0.09%	-0.97%	-3.07%	-0.7%	-0.32%	0.02%
Net Income	-2.69M	-3.27M	-2.17M	-2.56M	-2.37M	-2.96M	-18.57M	-14.02M	-25.97M	-24.99M
Depreciation & Amortization	28.93K	28.78K	28.03K	19.8K	8.35K	19.66K	38.52K	56.28K	74.17K	95.37K
Stock-Based Compensation	67.91K	967.67K	57.22K	469.72K	0	64.46K	369.99K	902.07K	1.07M	528.64K
Deferred Taxes	-67.91K	-967.67K	0	0	0	0	0	-3.65M	0	0
Other Non-Cash Items	67.91K	967.67K	-296.48K	18.26K	327.5K	124.19K	37.77K	3.65M	0	0
Working Capital Changes	-112.82K	329.13K	396.45K	527.54K	636.28K	-806	6.93M	-5.97M	-356K	-307.23K
Change in Receivables	-40.64K	91.9K	-31.68K	-62.06K	53.21K	-114.06K	133.66K	49.01K	0	-659.41K
Change in Inventory	0	0	0	0	0	114.06K	-133.66K	-49.01K	0	0
Change in Payables	-60.03M	-60.03M	441.44K	553.12M	639.28K	137.96B	6.81T	-2.69M	-1.23M	-412.55K
Cash from Investing+	-15.85K	-15.85M	-4.35K	0	-7.61K	-156.79K	-47.72K	-134.26K	-48.95K	-20.65K
Capital Expenditures	-15.85K	-15.85M	-4.35K	0	-7.61K	-156.79K	-47.72K	-134.26K	-48.95K	-20.65K
CapEx % of Revenue	0.04%	19.12%	0%	-	0.01%	0.09%	0.12%	1.65%	-	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	0	0	0	0	0	0	0	0
Cash from Financing+	2.68M	1.34M	1.55M	1.49M	1.43M	12.51M	12.78M	35.35M	4.06M	23.75M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	0	1.55M	0	0	2.5K	3.4M	7.63M	0	2.37M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-2.72M	-17.8M	-1.69M	-1.54M	-1.41M	-2.91M	-11.24M	-19.16M	-25.22M	-24.7M
FCF Margin %	-6.36%	-21.47%	-1.57%	-1.6%	-1.2%	-1.59%	-29.17%	-235.07%	-	-6.24%
FCF Growth %	-0.19%	-5.54%	0.9%	0.09%	0.09%	-1.07%	-2.87%	-0.7%	-0.32%	0.02%
FCF per Share	-1.07	-7.01	-0.67	-0.61	-0.55	-1.14	-4.43	-7.55	-9.93	-4.76
FCF Conversion (FCF/Net Income)	1.01x	0.59x	0.78x	0.60x	0.59x	0.93x	0.60x	1.36x	0.97x	0.99x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-228.8%	-452.84%	-	-	-	-74%	-266.6%	-90.57%	-160.47%	-462.31%
Return on Invested Capital (ROIC)	-1509.97%	-	-	-	-	-	-	-	-	-
Gross Margin	-295.51%	-137.76%	-87.61%	-95.08%	100%	100%	100%	-11090.88%	-	97.59%
Net Margin	-628.22%	-394.7%	-201.82%	-265.84%	-201.6%	-162.21%	-4817.19%	-17198.35%	-	-631.98%
Debt / Equity	-	-	-	-	-	0.02x	-	-	-	-
Interest Coverage	-	-	-	-989.58x	-527.81x	-19.63x	-14576.85x	-	-	-1176.34x
FCF Conversion	1.01x	0.59x	0.78x	0.60x	0.59x	0.93x	0.60x	1.36x	0.97x	0.99x
Revenue Growth	-51.52%	93.64%	29.72%	-10.44%	22.11%	55.09%	-78.86%	-78.85%	-100%	-

Revenue by Segment

	2022
NIH Grants	81.53K
NIH Grants Growth	-

Frequently Asked Questions

Growth & Financials

GeoVax Labs, Inc. (GOVX) reported $3.4M in revenue for fiscal year 2024. This represents a 32% decrease from $4.9M in 2011.

GeoVax Labs, Inc. (GOVX) grew revenue by 0.0% over the past year. Growth has been modest.

GeoVax Labs, Inc. (GOVX) reported a net loss of $25.3M for fiscal year 2024.

Dividend & Returns

GeoVax Labs, Inc. (GOVX) has a return on equity (ROE) of -462.3%. Negative ROE indicates the company is unprofitable.

GeoVax Labs, Inc. (GOVX) had negative free cash flow of $24.3M in fiscal year 2024, likely due to heavy capital investments.