GeoVax Labs Inc
NASDAQ: GOVX · HEALTHCARE · BIOTECHNOLOGY
Updated 2026-10-28
GeoVax Labs Inc (GOVX) Financial statements
SEC filings — annual and quarterly data.
Cash flow — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $-1.33M | $-3.27M | $-2.37M | $-1.43M | $-2.01M | $-303621.00 | $-2.44M | $-1.69M | $-2.25M | $-2.71M | $-1.95M | $-1.69M | $-1.54M | $-1.40M | $-2.75M | $-11.20M | $-19.03M | $-25.17M | $-24.68M | $-21.47M |
| Capital expenditures | $69466.00 | $0.00 | $99831.00 | $270246.00 | $4706.00 | $11896.00 | $0.00 | $86603.00 | $35503.00 | $15850.00 | $15.85M | $4350.00 | $7606.00 | $7603.00 | $156791.00 | $47718.00 | $134258.00 | $48946.00 | $20653.00 | $27612.00 |
| Depreciation | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Stock-based comp | — | — | $2.02M | $1.30M | $750532.00 | $772997.00 | $310076.00 | $402104.00 | $479103.00 | $67905.00 | $967667.00 | $57224.00 | $469724.00 | $327500.00 | $64463.00 | $369987.00 | $902074.00 | $1.07M | $528644.00 | $1.12M |
| Free cash flow | $-1.40M | $-3.27M | $-2.47M | $-1.70M | $-2.01M | $-315517.00 | $-2.44M | $-1.78M | $-2.29M | $-2.72M | $-17.80M | $-1.69M | $-1.55M | $-1.41M | $-2.91M | $-11.24M | $-19.16M | $-25.22M | $-24.70M | $-21.50M |
| Investing cash flow | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Debt repayment | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net change in cash | — | — | — | — | — | — | — | — | — | — | — | — | — | — | $9.60M | — | — | — | — | — |
Frequently asked questions
How profitable is GOVX?
In its most recent fiscal year, GOVX ran a gross margin of -628.02%, an operating margin of -869.34%, and a net margin of -862.34%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does GOVX generate?
GOVX produced $-21.50M in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is GOVX's balance sheet healthy?
GOVX holds $3.09M in cash and equivalents against — in long-term debt, on $3.83M of shareholder equity. That debt is best read against the cash flow the business throws off each year.