--- title: "GeoVax Labs | 10-K: FY2025 Revenue: USD 2.489 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/282891871.md" datetime: "2026-04-15T19:59:59.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/282891871.md) - [en](https://longbridge.com/en/news/282891871.md) - [zh-HK](https://longbridge.com/zh-HK/news/282891871.md) --- # GeoVax Labs | 10-K: FY2025 Revenue: USD 2.489 M Revenue: As of FY2025, the actual value is USD 2.489 M. EPS: As of FY2025, the actual value is USD -22.4. EBIT: As of FY2025, the actual value is USD -21.81 M. GeoVax Labs, Inc. operates as a single segment focused on biotechnology research and development, and has not generated any product revenue to date. #### Revenue Revenue from government contracts decreased to $2,489,145 for the year ended December 31, 2025, from $3,954,576 for the year ended December 31, 2024, representing a decrease of $1,465,431. This decrease is partly due to the termination of the ATI-RRPV Contract by BARDA on April 11, 2025. #### Operating Expenses Total operating expenses for 2025 were $24,128,192, a decrease of $4,970,664 from $29,098,856 in 2024. Research and development expenses decreased by $5,592,083 (-24%) to $18,121,519 in 2025 from $23,713,602 in 2024, primarily due to discontinued costs from the ATI-RRPV Contract termination and lower costs for GEO-CM04S1 clinical trials and related manufacturing programs. General and administrative expenses increased by $621,419 (12%) to $6,006,673 in 2025 from $5,385,254 in 2024, mainly due to higher personnel costs, investor relations consulting, other programmatic expenses, patent costs, and stock-based compensation. Stock-based compensation expense included in research and development was $513,867 in 2025 and $222,202 in 2024. Stock-based compensation expense included in general and administrative was $601,287 in 2025 and $306,442 in 2024. #### Net Loss and Operating Loss The company reported a net loss of -$21,464,771 for 2025, compared to -$24,992,296 for 2024. Loss from operations was -$21,639,047 for 2025, compared to -$25,144,280 for 2024. #### Other Income (Expense) Interest income was $174,276 in 2025, a slight increase from $173,359 in 2024. Interest expense was $0 in 2025, down from -$21,375 in 2024, as certain notes payable were repaid in 2024. #### Cash Flow Net cash used in operating activities was -$21,473,969 in 2025, an improvement from -$24,675,511 in 2024. Net cash used in investing activities was -$27,612 in 2025, compared to -$20,653 in 2024, primarily for equipment purchases. Net cash provided by financing activities was $19,080,381 in 2025, down from $23,750,516 in 2024, mainly from stock and warrant offerings and exercises. The net decrease in cash and cash equivalents was -$2,421,200 in 2025, compared to -$945,648 in 2024. Cash and cash equivalents at the end of 2025 were $3,085,741, down from $5,506,941 at the end of 2024. #### Liquidity and Capital Resources Working capital was $3,377,950 as of December 31, 2025, compared to $4,827,551 as of December 31, 2024. #### Outlook / Guidance GeoVax Labs, Inc. believes its existing cash and cash equivalents are sufficient to fund operations into mid-second quarter of 2026. The company expects to continue incurring operating losses for the foreseeable future and will require substantial additional funding through various means. These factors raise substantial doubt about the company’s ability to continue as a going concern, although management plans to secure additional capital. ### Related Stocks - [GOVX.US](https://longbridge.com/en/quote/GOVX.US.md) ## Related News & Research - [Why Is GeoVax Labs Stock Falling Tuesday?](https://longbridge.com/en/news/286923401.md) - [SilentSwap Graduates from YZi Labs EASY Residency Season 3 Demo Day](https://longbridge.com/en/news/286475945.md) - [Ethic Inc. Sells 6,534 Shares of Astera Labs, Inc. $ALAB](https://longbridge.com/en/news/286526653.md) - [Nextech3D.ai Launches Krafty Labs AI Event Marketplace | NEXCF Stock News](https://longbridge.com/en/news/286090006.md) - [Hub Group (HUBG) Shares Crater Again Amid Delayed Quarterly Report, Material Misstatements Now Include 2023 and 2024 Financial Reports - HBSS](https://longbridge.com/en/news/286453772.md)