The company has failed to generate any top-line revenue over the last ten quarters, while operating losses reached a peak of $7.2 million in 2025Q4.
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | - | - | - | - | - | - | - |
| Cost of Revenue | 195.56K | 368K | 322.09K | 544.47K | 247.88K | 0 | 0 |
| Gross Profit | -195.56K | -368K | -322.09K | -544.47K | -247.88K | 0 | 0 |
| Gross Margin % | - | - | - | - | - | - | - |
| Gross Profit Growth % | - | -14.25% | 40.84% | -119.65% | - | - | - |
| Operating Expenses | 15.93M | 12.15M | 11.33M | 11.3M | 4.58M | 12.93M | 3.52M |
| Other Operating Expenses | - | - | - | - | - | - | - |
| EBITDA | -15.75M | -12.15M | -11.33M | -11.3M | -4.58M | -12.68M | -3.49M |
| EBITDA Margin % | - | - | - | - | - | - | - |
| EBITDA Growth % | -35.44% | -7.19% | -0.31% | -146.52% | 63.84% | -263.09% | - |
| Depreciation & Amortization | 381.48K | 368K | 322.09K | 544.47K | 247.88K | 249.16K | 28.97K |
| D&A / Revenue % | - | - | - | - | - | - | - |
| Operating Income (EBIT) | -16.13M | -12.52M | -11.66M | -11.84M | -4.83M | -12.93M | -3.52M |
| Operating Margin % | - | - | - | - | - | - | - |
| Operating Income Growth % | - | -7.39% | 1.58% | -145.14% | 62.62% | -267.18% | - |
| Interest Expense | 0 | 0 | 0 | 236.7K | 7.36K | 0 | 0 |
| Interest Coverage | - | - | - | -42.66x | 369.32x | - | - |
| Interest / Revenue % | - | - | - | - | - | - | - |
| Non-Operating Income | 2.4M | -1000K | 1000K | 1000K | 1000K | 0 | 0 |
| Pretax Income | -13.73M | -14.03M | -10.46M | -10.34M | 2.72M | -12.93M | -3.52M |
| Pretax Margin % | - | - | - | - | - | - | - |
| Income Tax | 98.8K | 106K | 51.47K | 166.26K | 0 | 0 | 0 |
| Effective Tax Rate % | -0.72% | -0.76% | -0.49% | -1.61% | 0% | 0% | 0% |
| Net Income | -6.92M | -14.13M | -3.33M | -2.74M | 2.72M | -12.93M | -3.52M |
| Net Margin % | - | - | - | - | - | - | - |
| Net Income Growth % | -81.64% | -323.92% | -21.53% | -200.89% | 121.04% | -267.18% | - |
| EPS (Diluted) | -0.31 | -0.79 | -1.67 | -0.45 | 0.35 | -1.38 | -0.33 |
| EPS Growth % | 39.16% | 52.69% | -271.11% | -228.57% | 125.36% | -318.18% | - |
| EPS (Basic) | - | -0.79 | -1.67 | -0.45 | 0.35 | -1.38 | -0.52 |
| Diluted Shares Outstanding | 22.07M | 17.84M | 6.29M | 6.14M | 7.74M | 9.36M | 10.83M |
High
As reported in recent financial statements, Verde Clean Fuels remains a pre-revenue entity, with zero top-line generation across the last ten quarters, underscoring the company's current status as a development-stage firm rather than an operational utility with established rate-based revenue streams or regulatory cost recovery mechanisms.
The absence of revenue indicates that the company has yet to achieve commercial-scale production or secure long-term off-take agreements. Investors should monitor the transition from development to operations, as future revenue will likely be project-specific rather than driven by traditional utility rate case outcomes.
Based on the company's reported income statements, VGAS has consistently recorded operating losses, with a quarterly deficit reaching $7.2 million in 2025Q4, reflecting the heavy R&D and administrative burden inherent in scaling proprietary STG+ technology before achieving any meaningful commercial production or operational cash flow.
The persistent negative earnings appear to be driven by high fixed costs rather than operational inefficiencies. Because the company lacks a regulated earnings base, these losses are not subject to regulatory recovery, meaning shareholders currently bear the full burden of the firm's pre-commercial cash burn.
According to the provided financial data, the company maintains zero debt, yet the consistent quarterly net losses, such as the $1.2 million deficit in 2026Q1, suggest that the firm's current cash runway is being rapidly depleted without the support of project-level financing or operational revenue.
The income statement fails to capture the potential for significant future dilution as the company approaches Final Investment Decisions for its flagship projects. Investors should be wary that the current lack of interest expense may be temporary, as the eventual transition to debt-funded infrastructure will likely introduce substantial financing costs that could compress future margins.
Quick answers to the most common questions about buying VGAS stock.
For fiscal year 2025, Verde Clean Fuels, Inc. (VGAS) reported total revenue of $0.0M.
Verde Clean Fuels, Inc. (VGAS) reported a net loss of $14.1M for the fiscal year ending 2025.