GOVX Nasdaq Pharmaceutical Preparations Financials FY2016βFY2025
GeoVax Labs, Inc. had $2.5M of revenue in fiscal 2025, down 37.1% on the year before. Over five years, revenue changed +6.4% a year on average.
Last close Β· Oct 23, 2026
$0.21
3.2%Hi! I read GeoVax Labs, Inc.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
β37.1%
No. Sales fell 37.1% last year.
Does it make a profit?
β862.4%
No. It lost money last year.
Does profit turn into cash?
β863.8%
No. It spent more cash than it brought in.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
KIRA Β· GeoVax Labs, Inc. had $2.5M of revenue in fiscal 2025, down 37.1% on the year before. Over five years, revenue changed +6.4% a year on average. Its operating margin was β869.4%, down 233.5Β pts: of every 100 in sales, about β869 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· GeoVax Labs, Inc. lost $21.5M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was β$21.5M in fiscal 2025, β863.8% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· No open-market insider trades in the last 12 months.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Oct 17, 2025 | John N Spencer JrDirector | Bought | 10,000 | $0.55 | $0.0M | Form 4 |
Can it carry its debts, and how well does it use its money?
Cash, debt and the ratios that show how comfortably GeoVax Labs, Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $11.4M | $27.6M | $6.5M | $5.5M | $3.1M |
| Interest coverage | β14,419.8x | β | β | β1,175.0x | β |
| Current ratio | 2.1x | 6.1x | 2.2x | 2.6x | 2.7x |
| Quick ratio | 2.1x | 6.1x | 2.2x | 2.6x | 2.7x |
| Total assets | $11.8M | $31.3M | $9.3M | $8.2M | $6.3M |
| Total liabilities | $7.4M | $4.7M | $3.5M | $3.1M | $2.5M |
| Shareholders' equity | $4.4M | $26.6M | $5.8M | $5.0M | $3.8M |
| Net debt (β = net cash) | β | β | β | β | β |
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β | β |
| F-score | β / 3 | 3 / 7 | 3 / 7 | 2 / 7 | 3 / 7 | 1 / 7 | β / 6 | β / 6 | β / 6 | β / 6 |
| Accruals ratio | β217.2% | β87.6% | β179.7% | β175.0% | β3.8% | β66.5% | 23.2% | β3.9% | β3.6% | 0.1% |
| Altman Z'' | β224.47 | β287.24 | β243.24 | β354.65 | 1.94 | β24.41 | β0.22 | β51.20 | β66.83 | β95.37 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $0.8M | $1.1M | $1.0M | $1.2M | $1.8M | $0.4M | $0.1M | $0.0M | $4.0M | $2.5M |
| Research and development | $2.0M | $2.0M | $1.9M | $1.9M | $2.4M | $15.6M | $9.1M | $20.7M | $23.7M | $18.1M |
| Operating income | β$3.3M | β$2.2M | β$2.6M | β$2.4M | β$2.8M | β$18.7M | β$14.0M | β$26.7M | β$25.1M | β$21.6M |
| Interest expense | β | β | $0.0M | $0.0M | $0.1M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Income tax | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | β | β | β | $0.0M |
| Net income | β$3.3M | β$2.2M | β$2.6M | β$2.4M | β$3.0M | β$18.6M | β$14.0M | β$26.0M | β$25.0M | β$21.5M |
| Diluted EPS | β$0.08 | β$0.03 | β$15,610.33 | β$781.87 | β$2.14 | β$3.04 | β | β | β | β |
| Diluted shares | 0.04B | 0.07B | 0.00B | 0.00B | 0.00B | 0.01B | β | β | β | β |
| Cash flow | ||||||||||
| Cash from operations | β$1.9M | β$1.7M | β$1.5M | β$1.4M | β$2.8M | β$11.2M | β$19.0M | β$25.2M | β$24.7M | β$21.5M |
| Capital expenditure | β | $0.0M | β | $0.0M | $0.2M | $0.0M | $0.1M | $0.0M | $0.0M | $0.0M |
| Free cash flow | β | β$1.7M | β | β$1.4M | β$2.9M | β$11.2M | β$19.2M | β$25.2M | β$24.7M | β$21.5M |
| Depreciation and amortization | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.1M | $0.1M | $0.1M | $0.1M |
| Stock-based compensation | $1.0M | $0.1M | $0.5M | $0.3M | $0.1M | $0.4M | $0.9M | $1.1M | $0.5M | $1.1M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $0.5M | $0.3M | $0.3M | $0.3M | $9.9M | $11.4M | $27.6M | $6.5M | $5.5M | $3.1M |
| Current assets | $0.5M | $0.4M | $0.6M | $0.4M | $10.2M | $11.6M | $28.9M | $7.9M | $7.9M | $5.3M |
| Current liabilities | $0.4M | $0.8M | $1.6M | $2.0M | $0.8M | $5.4M | $4.7M | $3.5M | $3.1M | $1.9M |
| Property and equipment, net | $0.1M | $0.0M | $0.0M | $0.0M | $0.1M | $0.2M | $0.2M | $0.2M | $0.2M | $0.1M |
| Total assets | $0.6M | $0.5M | $0.6M | $0.5M | $10.4M | $11.8M | $31.3M | $9.3M | $8.2M | $6.3M |
| Total liabilities | $0.4M | $0.8M | $1.7M | $2.0M | $0.8M | $7.4M | $4.7M | $3.5M | $3.1M | $2.5M |
| Preferred stock | β | β | $2.0M | $1.9M | $0.1M | $0.0M | β | β | β | β |
| Shareholders' equity | $0.2M | β$0.3M | β$1.0M | β$1.6M | $9.6M | $4.4M | $26.6M | $5.8M | $5.0M | $3.8M |
| Margins | ||||||||||
| Operating margin | β394.9% | β202.2% | β266.1% | β201.8% | β154.5% | β4,862.7% | β17,213.0% | β | β635.8% | β869.4% |
| EBITDA margin | β391.4% | β199.6% | β264.0% | β201.0% | β153.4% | β4,852.7% | β17,143.9% | β | β633.4% | β866.6% |
| Net margin | β394.7% | β201.8% | β265.8% | β201.6% | β162.2% | β4,817.2% | β17,203.8% | β | β632.0% | β862.4% |
| FCF margin | β | β157.4% | β | β119.6% | β159.4% | β2,916.8% | β23,514.7% | β | β624.5% | β863.8% |
| Returns | ||||||||||
| Return on capital employed | β1,361.6% | 677.2% | 260.8% | 153.3% | β29.4% | β294.7% | β52.7% | β464.0% | β498.0% | β491.2% |
| Return on equity | β1,360.9% | β | β | β | β74.0% | β266.6% | β90.6% | β160.5% | β462.3% | β483.8% |
| Return on assets | β536.2% | β394.4% | β452.2% | β426.8% | β54.5% | β167.4% | β65.0% | β127.8% | β286.6% | β296.1% |
| Return on tangible equity | β1,360.9% | β | β | β | β30.9% | β425.8% | β52.7% | β450.6% | β495.0% | β561.2% |
| Growth | ||||||||||
| Revenue growth | β | 29.7% | β10.4% | 22.1% | 55.1% | β78.9% | β78.9% | β100.0% | β | β37.1% |
| Share count change | β | 65.2% | β100.0% | 1,400.0% | 46,026.7% | 340.8% | β | β | β | β |
| Financial health | ||||||||||
| Interest coverage | β | β | β985.7x | β527.2x | β19.6x | β14,419.8x | β | β | β1,175.0x | β |
| Current ratio | 1.5x | 0.6x | 0.4x | 0.2x | 12.6x | 2.1x | 6.1x | 2.2x | 2.6x | 2.7x |
| Quick ratio | 1.5x | 0.6x | 0.4x | 0.2x | 12.6x | 2.1x | 6.1x | 2.2x | 2.6x | 2.7x |
| Capital allocation | ||||||||||
| Capex / revenue | β | 0.4% | β | 0.6% | 8.6% | 12.4% | 164.8% | β | 0.5% | 1.1% |
| Stock comp / revenue | 116.7% | 5.3% | 48.8% | 27.9% | 3.5% | 96.0% | 1,106.9% | β | 13.4% | 44.8% |
| Quality scores | ||||||||||
| Piotroski F-score | β | 3.0 | 3.0 | 2.0 | 3.0 | 1.0 | β | β | β | β |
| Altman Z'' | β224.5 | β287.2 | β243.2 | β354.7 | 1.9 | β24.4 | β0.2 | β51.2 | β66.8 | β95.4 |
| Accruals ratio | β217.2% | β87.6% | β179.7% | β175.0% | β3.8% | β66.5% | 23.2% | β3.9% | β3.6% | 0.1% |
Source: SEC EDGAR XBRL filings (CIK 0000832489). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
