GeoVax Labs, Inc.
GOVXHealthcare|Biotechnology|US
$0.16
-0.00 (-0.06%)
DCF Value
$0.17
Tangible Book / Share
$0.39
Cash / Share
$0.69
Financials
Financial Snapshot
Market Cap
$1.6M
Enterprise Value
-$1.2M
Revenue (TTM)
$0.00
Net Income (TTM)
-$20.4M
Cash & Investments
$3.1M
Net Cash
$2.8M
Free Cash Flow (TTM)
-$18.4M
Operating CF (TTM)
-$18.4M
Debt/Equity
0.18
Cash Runway & Burn Rate
Cash on Hand
$3.1M
Quarterly Burn
$4.6M
Monthly Burn
$1.5M
Est. Runway
~0.7 quarters
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $454.0K | $312.7K | $260.0K | $283.3K | $9.9M | $11.4M | $27.6M | $6.5M | $5.5M | $3.1M | $3.1M | |
| Operating Cash Flow | -$1.9M | -$1.7M | -$1.5M | -$1.4M | -$2.8M | -$11.2M | -$19.0M | -$25.2M | -$24.7M | -$21.5M | -$18.4M | |
| Free Cash Flow | -$17.8M | -$1.7M | -$1.5M | -$1.4M | -$2.9M | -$11.2M | -$19.2M | -$25.2M | -$24.7M | -$21.5M | -$18.4M | |
| Capital Expenditure | -$15.8M | -$4.3K | $0.00 | -$7.6K | -$156.8K | -$47.7K | -$134.3K | -$48.9K | -$20.7K | -$27.6K | -$5.00 | |
| Financing Cash Flow | $1.3M | $1.6M | $1.5M | $1.4M | $12.5M | $12.8M | $35.4M | $4.1M | $23.8M | $19.1M | $18.4M |
R&D Spending
R&D (TTM)
$15.1M
R&D Intensity
—
R&D Growth vs Prior
-16.9%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $828.9K | $1.1M | $963.0K | $1.2M | $1.8M | $385.5K | $81.5K | $0.00 | $4.0M | $2.5M | $0.00 | |
| R&D Expense | $2.0M | $2.0M | $1.9M | $1.9M | $2.4M | $15.6M | $9.1M | $20.7M | $23.7M | $18.1M | $15.1M | |
| R&D % of Revenue | 237.8% | 187.6% | 195.1% | 162.5% | 134.0% | 4034.8% | 11190.9% | — | 599.6% | 728.0% | — | |
| SG&A | $2.1M | $1.2M | $1.6M | $1.6M | $2.2M | $3.6M | $5.0M | $5.9M | $5.4M | $6.0M | $5.5M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $828.9K | $1.1M | $963.0K | $1.2M | $1.8M | $385.5K | $81.5K | $0.00 | $4.0M | $2.5M | $0.00 | |
| Cost of Revenue | $2.0M | $2.0M | $1.9M | $0.00 | $0.00 | $15.6M | $9.1M | $20.7M | $95.4K | $18.1M | $8.9M | |
| Gross Profit | -$1.1M | -$942.1K | -$915.7K | $1.2M | $1.8M | -$15.2M | -$9.0M | -$20.7M | $3.9M | -$15.6M | -$8.9M | |
| R&D | $2.0M | $2.0M | $1.9M | $1.9M | $2.4M | $15.6M | $9.1M | $20.7M | $23.7M | $18.1M | $15.1M | |
| SG&A | $2.1M | $1.2M | $1.6M | $1.6M | $2.2M | $3.6M | $5.0M | $5.9M | $5.4M | $6.0M | $5.5M | |
| Operating Income | -$3.3M | -$2.2M | -$2.6M | -$2.4M | -$2.8M | -$18.7M | -$14.0M | -$26.7M | -$25.1M | -$21.6M | -$20.5M | |
| Interest Expense | $0.00 | $0.00 | $2.6K | $4.5K | $143.5K | $1.3K | $0.00 | $0.00 | $21.4K | $0.00 | $0.00 | |
| Pretax Income | -$3.3M | -$2.2M | -$2.6M | -$2.4M | -$3.0M | -$18.6M | -$14.0M | -$26.0M | -$25.0M | -$21.5M | -$20.4M | |
| Net Income | -$3.3M | -$2.2M | -$2.6M | -$2.4M | -$3.0M | -$18.6M | -$14.0M | -$26.0M | -$25.0M | -$21.5M | -$20.4M | |
| EPS (Diluted) | -32.25 | -21.25 | -25.25 | -23.50 | -29.00 | -182.50 | -138.00 | -255.50 | -120.50 | -22.40 | -13.89 | |
| EBITDA | -$3.2M | -$2.1M | -$2.5M | -$2.4M | -$2.8M | -$18.5M | -$14.0M | -$25.9M | -$24.9M | -$21.4M | -$20.6M | |
| Shares Out. (M) | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 | 0.21 | 0.96 | 4.57 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $454.0K | $312.7K | $260.0K | $283.3K | $9.9M | $11.4M | $27.6M | $6.5M | $5.5M | $3.1M | $3.1M | |
| Short-Term Investments | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Current Assets | $544.4K | $448.1K | $620.0K | $447.3K | $10.2M | $11.6M | $28.9M | $7.9M | $7.9M | $5.3M | $4.2M | |
| Total Assets | $610.2K | $490.2K | $642.0K | $468.9K | $10.4M | $11.8M | $31.3M | $9.3M | $8.2M | $6.3M | $4.6M | |
| Total Current Liabilities | $369.8K | $811.3K | $1.6M | $2.0M | $810.3K | $5.4M | $4.7M | $3.5M | $3.1M | $1.9M | $2.7M | |
| Long-Term Debt | $0.00 | $0.00 | $39.6K | $27.2K | $14.7K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $369.8K | $811.3K | $1.7M | $2.0M | $825.0K | $7.4M | $4.7M | $3.5M | $3.1M | $2.5M | $2.9M | |
| Stockholders' Equity | $240.4K | -$321.1K | -$1.0M | -$1.6M | $9.6M | $4.4M | $26.6M | $5.8M | $5.0M | $3.8M | $1.8M | |
| Retained Earnings | -$35.7M | -$37.9M | -$40.5M | -$42.8M | -$45.8M | -$64.4M | -$78.4M | -$104.4M | -$129.4M | -$150.8M | -$160.5M |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.9M | -$1.7M | -$1.5M | -$1.4M | -$2.8M | -$11.2M | -$19.0M | -$25.2M | -$24.7M | -$21.5M | -$18.4M | |
| Capital Expenditure | -$15.8M | -$4.3K | $0.00 | -$7.6K | -$156.8K | -$47.7K | -$134.3K | -$48.9K | -$20.7K | -$27.6K | -$5.00 | |
| Free Cash Flow | -$17.8M | -$1.7M | -$1.5M | -$1.4M | -$2.9M | -$11.2M | -$19.2M | -$25.2M | -$24.7M | -$21.5M | -$18.4M | |
| Investing Cash Flow | -$15.8M | -$4.3K | $0.00 | -$7.6K | -$156.8K | -$47.7K | -$134.3K | -$48.9K | -$20.7K | -$27.6K | $0.00 | |
| Financing Cash Flow | $1.3M | $1.6M | $1.5M | $1.4M | $12.5M | $12.8M | $35.4M | $4.1M | $23.8M | $19.1M | $18.4M | |
| Issuance of Stock | $1.3M | $571.5K | $0.00 | $1.4M | $11.2M | $9.4M | $27.7M | $4.1M | $21.4M | $19.1M | $18.4M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | -$1.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $0.00 | $0.00 | $300.0K | -$10.3K | $1.0M | -$27.9K | $0.00 | $0.00 | -$15.0K | $0.00 | $0.00 | |
| Stock Based Comp. | $967.7K | $57.2K | $469.7K | $327.5K | $64.5K | $370.0K | $902.1K | $1.1M | $528.6K | $0.00 | $660.6K | |
| Net Change in Cash | -$606.3K | -$141.3K | -$53.0K | $23.6K | $9.6M | $1.5M | $16.2M | -$21.2M | -$945.6K | -$2.4M | $49.6K |
Dilution Tracker
Shares outstanding grew 843.4% over 5 years — significant dilution
Shares Outstanding
10M
5-Year Share Growth
+843.4%
Stock Issuance (TTM)
$18.4M
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 | 0.21 | 0.96 | 4.57 | |
| Change vs Prior % | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 104.2% | 361.9% | 376.3% | |
| Stock Issuance | $1.3M | $571.5K | $0.00 | $1.4M | $11.2M | $9.4M | $27.7M | $4.1M | $21.4M | $19.1M | $18.4M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | -$1.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $967.7K | $57.2K | $469.7K | $327.5K | $64.5K | $370.0K | $902.1K | $1.1M | $528.6K | $0.00 | $660.6K |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | -137.8% | -87.6% | -95.1% | 100.0% | 100.0% | -3934.8% | -11090.9% | — | 97.6% | -628.0% | — | |
| Operating Margin % | -394.9% | -202.2% | -266.1% | -201.8% | -154.5% | -4862.7% | -17207.5% | — | -635.8% | -869.3% | — | |
| Net Margin % | -394.7% | -201.8% | -265.8% | -201.6% | -162.2% | -4817.2% | -17198.3% | — | -632.0% | -862.3% | — | |
| EBITDA Margin % | -391.2% | -199.2% | -263.5% | -200.5% | -153.3% | -4806.9% | -17129.3% | — | -629.0% | -859.6% | — | |
| FCF Margin % | -2146.9% | -157.4% | -160.2% | -119.6% | -159.4% | -2916.8% | -23507.2% | — | -624.5% | -863.8% | — | |
| ROE % | -1361.1% | 675.9% | 250.5% | 150.6% | -30.9% | -425.7% | -52.7% | -450.6% | -495.0% | -561.2% | -743.7% | |
| ROA % | -536.2% | -442.7% | -398.8% | -505.6% | -28.5% | -157.4% | -44.7% | -279.7% | -306.4% | -338.5% | -440.0% | |
| ROIC % | -1361.8% | 677.3% | 354.8% | 154.6% | -28.8% | -294.7% | -52.7% | -464.0% | -498.1% | -463.5% | -985.2% | |
| R&D / Revenue % | 237.8% | 187.6% | 195.1% | 162.5% | 134.0% | 4034.8% | 11190.9% | — | 599.6% | 728.0% | — |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 93.6% | 29.7% | -10.4% | 22.1% | 55.1% | -78.9% | -78.9% | -100.0% | 0.0% | -37.1% | |
| Gross Profit | 9.7% | 17.5% | 2.8% | 228.4% | 55.1% | -931.8% | 40.4% | -129.2% | 118.6% | -505.1% | |
| Operating Income | -21.5% | 33.6% | -17.9% | 7.4% | -18.7% | -565.5% | 25.2% | -90.6% | 6.0% | 13.9% | |
| Net Income | -21.7% | 33.7% | -18.0% | 7.4% | -24.8% | -527.8% | 24.5% | -85.2% | 3.8% | 14.1% | |
| EPS (Diluted) | -21.7% | 34.1% | -18.8% | 6.9% | -23.4% | -529.3% | 24.4% | -85.1% | 52.8% | 81.4% | |
| Operating Cash Flow | 28.1% | 13.2% | 8.6% | 9.4% | -96.7% | -307.1% | -70.0% | -32.3% | 2.0% | 13.0% | |
| Free Cash Flow | -554.0% | 90.5% | 8.8% | 8.9% | -106.8% | -286.7% | -70.4% | -31.6% | 2.1% | 12.9% | |
| R&D Expense | 16.4% | 2.4% | -6.9% | 1.7% | 27.9% | 536.3% | -41.3% | 127.1% | 14.4% | -23.6% | |
| SG&A Expense | 49.1% | -42.2% | 33.6% | -0.6% | 34.1% | 62.9% | 39.4% | 19.3% | -9.5% | 11.5% | |
| Total Assets | -54.2% | -19.7% | 31.0% | -27.0% | 2116.8% | 13.5% | 165.7% | -70.4% | -12.1% | -22.2% | |
| Book Value / Share | -80.0% | -233.6% | -218.3% | -54.1% | 707.7% | -54.4% | 509.8% | -78.3% | -57.1% | -83.6% | |
| Debt | 0.0% | 0.0% | 0.0% | -86.8% | 398.4% | -100.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Diluted Shares | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 104.2% | 361.9% |
Valuation
P/E (TTM)At Loss
P/S0.00
10Y Low / Med / High1.65 / 357.76 / 75989301.72
P/B0.41
10Y Low / Med / High0.90 / 2.54 / 262049756.63
EV/EBITDA0.06
EV/Revenue0.00
10Y Low / Med / High0.75 / 388.39 / 75989301.17
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$0.17
Tangible Book / Share
$0.39
Net Current Assets / Share
$0.13
Graham Net-Net
$0.06
Cash / Share
$0.69
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -19224806.20 | -23529411.76 | -9504950.50 | -191.39 | -43.71 | -7.44 | -1.71 | -0.53 | -0.51 | -0.19 | -0.01 | |
| P/S Ratio | 75989301.72 | 47241623.03 | 25319626.17 | 388.60 | 70.61 | 357.76 | 294.49 | 0.00 | 3.24 | 1.65 | 0.00 | |
| P/B Ratio | 262049756.63 | -158219568.49 | -23857925.64 | -290.21 | 13.46 | 31.62 | 0.90 | 2.39 | 2.54 | 1.07 | 0.41 | |
| EV/EBITDA | -19423507.25 | -23713491.30 | -9608216.58 | -193.70 | -42.61 | -6.83 | 0.26 | -0.28 | -0.29 | -0.09 | 0.06 | |
| EV/Revenue | 75989301.17 | 47241622.74 | 25319626.21 | 388.39 | 65.30 | 328.12 | -44.21 | 0.00 | 1.85 | 0.75 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
-62.34
Distress
Piotroski F-Score
2
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $2.6M | $519.6M | $224.8M |
| Net Income | -$4.9M | -$2.5M | -$2.8M |
| EPS | $-5.14 | $-2.64 | $-2.96 |
| # Analysts (EPS) | 1 | 2 | 2 |
Revenue Segments
By Product
| Segment | 2022 |
|---|---|
| NIH Grants | $81.5K |