# $GEV and $VRT: customers are prepaying faster than revenue grows
Latent Equity · published Nov 3, 2026 · Power meter
Post: https://x.com/Latent_Equity/status/2117635399736573975

Customers of $GEV and $VRT are paying up front faster than revenue grows. Contract liabilities (cash paid for gear not yet delivered) hit 104% of a year's revenue at $GEV, from 54% a year ago, and 32% at $VRT, from 13%. Prepayment growth slowed in Q3, though: +14% q/q at $GEV after +25%, +13% at $VRT after +44%. $GEV's figure includes turbine progress payments, so compare trends, not levels.

General research, the same for every reader. Not investment advice.