AXSM Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03

Price $179.25

Market Cap (MRQ) $9.37B

P/E (TTM) -47.9

EPS (TTM) $-3.74

Revenue (TTM) $777M

ROE (TTM) -245.1%

Debt/Equity (MRQ) 2.3

52W Range $117–$260

AXSM Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

04

range

bars

Bar granularity adapts to the selected period — hover the chart to see open/high/low/close for a bar.

10-Year Performance Revenue, net income, margins and EPS trends

06

Revenue$638M

2022-12-31 → 2025-12-31

EPS$-3.68

2020-12-31 → 2025-12-31

Free Cash Flow$-94M

2016-12-31 → 2025-12-31

Net margin-24.7%

2023-12-31 → 2025-12-31

Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric	AXSM	5Y avg	Peer Median	Verdict
P/E (TTM)	-47.95Y avg ≈-21.3	≈-21.3	·	·
P/S (TTM)	12.15Y avg ≈26.6	≈26.6	16.5	Fair value
P/B (MRQ)	112.55Y avg ≈63.8	≈63.8	7.5	Overvalued
EV / EBITDA	-53.95Y avg ≈-22.7	≈-22.7	·	·
Price / FCF (TTM)	-130.35Y avg ≈-39.7	≈-39.7	·	·
Price / Cash Flow (TTM)	-131.65Y avg ≈-39.9	≈-39.9	·	·
EV / Revenue	14.15Y avg ≈25.7	≈25.7	·	·
EV / FCF	-95.75Y avg ≈-38.7	≈-38.7	·	·
Price / Tangible Book (MRQ)	204.05Y avg ≈116.6	≈116.6	·	·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric	AXSM	5Y avg	Peer Median	Verdict
Operating Margin (TTM)	-24.0%5Y avg ≈-61.5%	≈-61.5%	6.8%	Weak
EBITDA Margin	-26.1%5Y avg ≈-61.5%	≈-61.5%	7.6%	Weak
Pretax Margin (TTM)	-24.6%5Y avg ≈-63.8%	≈-63.8%	6.5%	Weak
Net Profit Margin (TTM)	-24.7%5Y avg ≈-63.9%	≈-63.9%	5.6%	Weak
ROA (TTM)	-27.4%5Y avg ≈-63.1%	≈-63.1%	-1.8%	Weak
ROE (TTM)	-245.1%5Y avg ≈-260.3%	≈-260.3%	-16.9%	Weak
ROIC	-60.2%5Y avg ≈-80.5%	≈-80.5%	-8.8%	Weak

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric	AXSM	5Y avg	Peer Median	Verdict
Debt / Equity (MRQ)	2.35Y avg ≈2.0	≈2.0	1.2	High debt
Current Ratio (MRQ)	1.45Y avg ≈2.7	≈2.7	2.2	Low liquidity
Quick Ratio	1.45Y avg ≈2.6	≈2.6	1.3	In line
Long-Term Debt / Equity (MRQ)	1.45Y avg ≈1.9	≈1.9	1.1	High debt
Interest Coverage	10.5	·	-5.7	Strong liquidity

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric	5Y trend	AXSM	5Y avg	Peer Median	Verdict
Revenue YoY		65.5%5Y avg ≈183.0%	≈183.0%	·	·
Revenue CAGR 3Y		133.7%	·	·	·

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric	AXSM	5Y avg	Peer Median	Verdict
EPS (Diluted)	$-3.685Y avg ≈$-4.60	≈$-4.60	·	·
Revenue / Share	$12.835Y avg ≈$6.71	≈$6.71	·	·
Cash Flow / Share	$-1.885Y avg ≈$-2.65	≈$-2.65	·	·
Cash / Share	$6.355Y avg ≈$5.58	≈$5.58	·	·

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric	AXSM	5Y avg	Peer Median	Verdict
Asset Turnover	1.05Y avg ≈0.6	≈0.6	0.5	Top tier
Receivables Turnover	3.55Y avg ≈2.7	≈2.7	5.0	Weak
Revenue / Employee	≈$474.4K	·	·	·

value · ≈ 5Y avg · industry median · verdict relative to median

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

14

Avg Surprise -3.0%

Next Report Nov 02, 2026

Period	Report	EPS Actual	EPS Est	Surprise
June 30, 2026	Aug 10, 2026	$-0.99	$-0.86	-14.9%
March 31, 2026		$-1.26	$-0.91	-37.9%
Dec. 31, 2025		$-0.56	$-0.68	18.0%
Sept. 30, 2025		$-0.94	$-0.88	-6.5%
June 30, 2025		$-0.97	$-1.12	13.3%
March 31, 2025		$-1.22	$-1.35	9.8%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

15

Income Statement 16

Metric	2025	2024	2023	2022
Revenue	$638M	$386M	$271M	$50M
Cost of Revenue	·	·	·	$5M
R&D Expense	$183M	$187M	$98M	$58M
SG&A Expense	$571M	$411M	$323M	$159M
Operating Expenses	$805M	$666M	$502M	$230M
Operating Income	$-167M	$-281M	$-232M	$-180M
Interest Expense	$-16M	$-22M	$-20M	$-10M
Interest Income	$9M	$15M	$14M	$2M
Pretax Income	$-184M	$-287M	$-238M	$-187M
Income Tax	$-530.0K	$85.0K	$960.0K	$0
Net Income	$-183M	$-287M	$-239M	$-187M
EPS (Basic)	$-3.68	$-5.99	$-5.27	$-4.60
EPS (Diluted)	$-3.68	$-5.99	$-5.27	$-4.60
Shares (Basic)	49,747,178	47,914,253	45,425,212	40,655,941
Shares (Diluted)	49,747,178	47,914,253	45,425,212	40,655,941
EBITDA	$-167M	$-281M	$-232M	$-180M

Balance Sheet 20

Metric	2025	2024	2023	2022
Cash & Equivalents	$323M	$315M	$386M	$201M
Receivables	$224M	$142M	$95M	$38M
Inventory	$28M	$16M	$15M	$4M
Prepaid Expense	$14M	$12M	$8M	$3M
Current Assets	$589M	$485M	$504M	$246M
PP&E (Net)	$562.0K	$584.0K	$846.0K	$722.0K
Goodwill	$12M	$12M	$12M	$10M
Intangibles	$41M	$47M	$53M	$60M
Total Assets	$690M	$568M	$588M	$331M
Accounts Payable	$66M	$72M	$41M	$39M
Current Liabilities	$379M	$230M	$139M	$97M
Capital Leases	$23M	$6M	$7M	·
Total Liabilities	$602M	$511M	$397M	$222M
Long-term Debt	$188M	$181M	·	·
Total Debt	$188M	$181M	$178M	$94M
Common Stock	$5.0K	$5.0K	$5.0K	$4.0K
Retained Earnings	$-1.31B	$-1.12B	$-836M	$-596M
Stockholders' Equity	$88M	$57M	$191M	$110M
Liabilities + Equity	$690M	$568M	$588M	$331M
Shares Outstanding	50,882,766	48,667,587	47,351,363	43,498,617

Cash Flow 13

Metric	2025	2024	2023	2022
Stock-based Comp	$94M	$85M	$63M	$38M
Amort. of Intangibles	$6M	$6M	$6M	$4M
Operating Cash Flow	$-93M	$-128M	$-145M	$-117M
CapEx	$480.0K	$270.0K	$582.0K	$702.0K
Investing Cash Flow	$-480.0K	$-270.0K	$-582.0K	$-54M
Net Debt Issued	$-332M	·	·	·
Stock Issued	$68M	$41M	$259M	$244M
Net Stock Activity	$68M	$41M	$259M	$237M
Financing Cash Flow	$101M	$58M	$331M	$285M
Net Change in Cash	$8M	$-71M	$185M	$114M
Taxes Paid	$-180.0K	·	·	·
Free Cash Flow	$-94M	$-129M	$-146M	$-117M
Levered FCF	$-78M	$-107M	·	·

Profitability 7

Metric	2025	2024	2023	2022
Operating Margin	-26.1%	-72.7%	-85.7%	·
Net Margin	-28.7%	-74.5%	-88.4%	·
Pretax Margin	-28.8%	-74.5%	-88.1%	·
EBITDA Margin	-26.1%	-72.7%	-85.7%	·
ROA	-29.1%	-49.7%	-52.0%	-89.3%
ROE	-227.0%	-383.2%	-103.9%	-140.2%
ROIC	-60.2%	-118.1%	-63.1%	·

Liquidity & Solvency 5

Metric	2025	2024	2023	2022
Current Ratio	1.6	2.1	3.6	2.5
Quick Ratio	1.4	2.0	3.5	2.5
Debt / Equity	2.1	3.2	0.9	0.9
LT Debt / Equity	1.3	3.2	0.9	0.9
Interest Coverage	10.5	13.0	·	·

Efficiency 3

Metric	2025	2024	2023	2022
Asset Turnover	1.0	0.7	0.6	0.0
Inventory Turnover	·	·	·	2.4
Receivables Turnover	3.5	3.3	4.1	0.0

Per Share 5

Metric	2025	2024	2023	2022
Book Value / Share	$1.74	$1.17	$4.03	$2.52
Revenue / Share	$12.83	$8.05	$5.96	$0.00
Cash Flow / Share	$-1.88	$-2.68	$-3.19	$-2.87
Cash / Share	$6.35	$6.48	$8.16	$4.62
EPS (TTM)	$-3.68	$-5.99	$-5.27	$-4.60

Growth Rates 2

Metric	Trend	2025	2024	2023	2022
Revenue YoY		65.5%	42.5%	440.8%	·
Revenue CAGR 3Y		133.7%	·	·	·

Valuation (TTM) 14

Metric	2025	2024	2023	2022
Revenue TTM	$638M	$386M	$271M	$50M
Net Income TTM	$-183M	$-287M	$-239M	$-187M
Market Cap	$9.29B	$4.12B	$3.77B	$3.36B
Enterprise Value	$9.16B	$3.98B	$3.56B	$3.25B
P/E	-49.6	-14.1	-15.1	-16.8
P/S	14.6	10.7	13.9	67.1
P/B	105.3	72.2	19.7	30.6
P / Tangible Book	260.1	·	30.0	84.8
P / Cash Flow	-99.5	-32.1	-26.0	-28.8
P / FCF	-99.0	-32.0	-25.9	-28.6
EV / EBITDA	-54.9	-14.2	-15.4	-18.1
EV / FCF	-97.5	-31.0	-24.4	-27.7
EV / Revenue	14.3	10.3	13.2	64.9
Earnings Yield	-2.0%	-7.1%	-6.6%	-6.0%

Income Statement 16

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q3 2022	Q2 2022
Revenue	$218M	$191M	$196M	$171M	$150M	$121M	$119M	$105M	$87M	$75M	$72M	$58M	$47M	$95M	$17M	·
Cost of Revenue	·	·	·	·	·	·	·	·	·	·	·	·	·	·	$2M	$1M
R&D Expense	$46M	$53M	$49M	$40M	$50M	$45M	$55M	$45M	$50M	$37M	$31M	$29M	$21M	$18M	$15M	$16M
SG&A Expense	$208M	$185M	$169M	$150M	$130M	$121M	$113M	$96M	$104M	$99M	$87M	$83M	$79M	$74M	$41M	$31M
Operating Expenses	$268M	$255M	$223M	$217M	$187M	$178M	$191M	$167M	$165M	$142M	$170M	$120M	$112M	$101M	$59M	$48M
Operating Income	$-50M	$-63M	$-27M	$-46M	$-37M	$-57M	$-73M	$-63M	$-78M	$-67M	$-98M	$-62M	$-65M	$-6M	$-42M	$-39M
Interest Expense	$-3M	$3M	$-3M	$-3M	$-4M	$5M	$-5M	$-6M	$-5M	$-5M	·	·	·	·	·	·
Interest Income	$2M	$2M	$2M	$2M	$2M	$3M	$3M	$4M	$4M	$4M	·	·	·	·	·	·
Pretax Income	$-51M	$-65M	$-28M	$-47M	$-49M	$-59M	$-75M	$-65M	$-79M	$-68M	$-99M	$-63M	$-68M	$-9M	$-45M	$-41M
Income Tax	$128.0K	$0	$430.0K	$0	$-960.0K	$0	$85.0K	$0	$0	$0	$-325.0K	$-678.0K	$-617.0K	$3M	$0	$0
Net Income	$-51M	$-65M	$-29M	$-47M	$-48M	$-59M	$-75M	$-65M	$-79M	$-68M	$-99M	$-62M	$-67M	$-11M	$-45M	$-41M
EPS (Basic)	$-0.99	$-1.26	$-0.55	$-0.94	$-0.97	$-1.22	$-1.54	$-1.34	$-1.67	$-1.44	$-2.15	$-1.32	$-1.54	$-0.26	$-1.07	$-1.06
EPS (Diluted)	$-0.99	$-1.26	$-0.55	$-0.94	$-0.97	$-1.22	$-1.54	$-1.34	$-1.67	$-1.44	$-2.15	$-1.32	$-1.54	$-0.26	$-1.07	$-1.06
Shares (Basic)	51,799,708	51,198,349	·	50,021,851	49,442,001	48,871,163	·	48,140,519	47,573,229	47,393,563	·	47,117,196	43,669,820	43,523,631	41,704,362	39,081,100
Shares (Diluted)	51,799,708	51,198,349	·	50,021,851	49,442,001	48,871,163	·	48,140,519	47,573,229	47,393,563	·	47,117,196	43,669,820	43,523,631	41,704,362	39,081,100
EBITDA	$-50M	$-63M	·	$-46M	$-37M	$-57M	·	$-63M	$-78M	$-67M	·	$-62M	$-65M	$-6M	$-42M	$-39M

Balance Sheet 21

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q3 2022	Q2 2022
Cash & Equivalents	$320M	$305M	$323M	$325M	$303M	$301M	$315M	$327M	$316M	$331M	·	$417M	$437M	$247M	$228M	$73M
Receivables	$277M	$251M	$224M	$197M	$199M	$161M	$142M	$124M	$120M	$101M	·	$78M	$67M	$45M	$20M	$16M
Inventory	$38M	$32M	$28M	$24M	$18M	$16M	$16M	$14M	$15M	$16M	·	$10M	$9M	$8M	$2M	$10M
Prepaid Expense	$21M	$24M	$14M	$20M	$16M	$16M	$12M	$13M	$12M	$12M	·	$7M	$6M	$5M	$2M	$4M
Current Assets	$657M	$611M	$589M	$565M	$537M	$495M	$485M	$479M	$463M	$460M	·	$512M	$520M	$304M	$252M	$104M
PP&E (Net)	$874.0K	$567.0K	$562.0K	$605.0K	$667.0K	$773.0K	$584.0K	$683.0K	$724.0K	$812.0K	·	$971.0K	$736.0K	$703.0K	$627.0K	$634.6K
Goodwill	$12M	$12M	$12M	$12M	$12M	$12M	$12M	$12M	$12M	$12M	·	$12M	$12M	$10M	$12M	$12M
Intangibles	$37M	$39M	$41M	$42M	$44M	$45M	$47M	$49M	$50M	$52M	·	$55M	$56M	$58M	$61M	$63M
Other Non-current Assets	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	$507.5K
Total Assets	$761M	$714M	$690M	$669M	$640M	$597M	$568M	$561M	$548M	$546M	·	$601M	$612M	$389M	$339M	$181M
Accounts Payable	$79M	$107M	$66M	$54M	$92M	$86M	$72M	$64M	$61M	$54M	·	$29M	$43M	$36M	$13M	$19M
Current Liabilities	$460M	$439M	$379M	$360M	$342M	$244M	$230M	$196M	$187M	$144M	·	$115M	$115M	$101M	$60M	$43M
Capital Leases	$22M	$22M	$23M	$23M	$24M	$24M	$6M	$6M	$7M	$7M	·	$8M	$8M	·	·	·
Total Liabilities	$678M	$659M	$602M	$596M	$567M	$543M	$511M	$469M	$445M	$402M	·	$331M	$333M	$277M	$182M	$165M
Long-term Debt	$188M	$188M	$188M	$188M	$188M	·	$181M	·	·	·	·	·	·	·	·	·
Total Debt	$188M	$188M	·	$188M	$188M	$181M	·	$180M	$179M	$179M	·	$177M	$177M	$148M	$94M	$93M
Common Stock	$5.0K	$5.0K	$5.0K	$5.0K	$5.0K	$5.0K	$5.0K	$5.0K	$5.0K	$5.0K	·	$5.0K	$5.0K	$4.0K	$4.3K	$4.0K
Retained Earnings	$-1.42B	$-1.37B	$-1.31B	$-1.28B	$-1.23B	$-1.18B	$-1.12B	$-1.05B	$-983M	$-904M	·	$-737M	$-675M	$-608M	$-535M	$-490M
Stockholders' Equity	$83M	$55M	$88M	$74M	$73M	$53M	$57M	$93M	$103M	$144M	$191M	$270M	$279M	$112M	$157M	$15M
Liabilities + Equity	$761M	$714M	$690M	$669M	$640M	$597M	$568M	$561M	$548M	$546M	·	$601M	$612M	$389M	$339M	$181M
Shares Outstanding	52,299,889	51,420,445	50,882,766	50,307,834	49,815,301	49,216,759	48,667,587	48,436,108	47,801,578	47,464,575	·	47,317,381	46,726,794	43,548,466	43,425,707	39,914,411

Cash Flow 12

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q3 2022	Q2 2022
Stock-based Comp	$27M	$23M	$23M	$23M	$25M	$23M	$22M	$22M	$21M	$20M	$19M	$15M	$16M	$13M	$9M	$10M
Amort. of Intangibles	$2M	$2M	$2M	$2M	$2M	$2M	$2M	$2M	$2M	$2M	$2M	$2M	$2M	$2M	$2M	$926.0K
Operating Cash Flow	$-33M	$-21M	$-19M	$1M	$-32M	$-43M	$-26M	$-19M	$-30M	$-53M	$-30M	$-54M	$-55M	$-6M	$-23M	$-34M
CapEx	$450.0K	$121.0K	$71.0K	$58.0K	$13.0K	$338.0K	$30.0K	$90.0K	$52.0K	$98.0K	$7.0K	$371.0K	$133.0K	$71.0K	$65.8K	$241.3K
Investing Cash Flow	$-450.0K	$-121.0K	$-71.0K	$-58.0K	$-13.0K	$-338.0K	$-30.0K	$-90.0K	$-52.0K	$-98.0K	$-7.0K	$-371.0K	$-133.0K	$-71.0K	$-65.8K	$-53M
Net Debt Issued	·	$-70M	·	·	·	·	·	·	·	·	·	·	·	·	·	·
Stock Issued	$13M	$6M	$6M	$10M	$33M	$20M	$16M	$13M	·	·	$0	$34M	·	·	$182M	$33M
Net Stock Activity	·	$6M	·	·	·	$20M	·	·	·	·	·	·	·	·	·	·
Financing Cash Flow	$48M	$3M	$16M	$21M	$35M	$29M	$14M	$30M	$14M	$-1M	$-2.0K	$33M	$246M	$52M	$177M	$75M
Net Change in Cash	$15M	$-18M	$-2M	$22M	$2M	$-14M	$-12M	$12M	$-16M	$-55M	$-30M	$-21M	$191M	$46M	$154M	$-11M
Free Cash Flow	·	$-21M	·	·	·	$-44M	·	·	·	$-54M	·	·	·	$-6M	·	·
Levered FCF	·	$-24M	·	·	·	$-38M	·	·	·	·	·	·	·	·	·	·

Profitability 7

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q3 2022	Q2 2022
Operating Margin	-22.7%	-33.1%	·	-27.0%	-24.5%	-46.9%	·	-59.8%	-89.5%	-89.7%	·	-107.5%	·	-6.7%	·	·
Net Margin	-23.5%	-33.8%	·	-27.6%	-32.0%	-48.9%	·	-61.7%	-91.0%	-91.1%	·	-107.6%	·	-11.9%	·	·
Pretax Margin	-23.4%	-33.8%	·	-27.6%	-32.6%	-48.9%	·	-61.7%	-91.0%	-91.1%	·	-108.8%	·	-9.1%	·	·
EBITDA Margin	-22.7%	-33.1%	·	-27.0%	-24.5%	-46.9%	·	-59.8%	-89.5%	-89.7%	·	-107.5%	·	-6.7%	·	·
ROA	-7.3%	-9.8%	·	-7.7%	-8.1%	-10.4%	·	-11.1%	-13.7%	-14.6%	·	-13.2%	-17.0%	-4.7%	-19.7%	-25.6%
ROE	-65.6%	-119.8%	·	-56.7%	-54.5%	-60.2%	·	-35.6%	-41.6%	-53.4%	·	-29.1%	-45.7%	-17.7%	-44.8%	-95.7%
ROIC	-18.4%	-26.1%	·	-17.6%	-13.8%	-24.3%	·	-22.9%	-27.7%	-20.8%	·	-13.8%	-14.1%	-3.2%	·	·

Liquidity & Solvency 5

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q3 2022	Q2 2022
Current Ratio	1.4	1.4	·	1.6	1.6	2.0	·	2.4	2.5	3.2	·	4.5	4.5	3.0	4.2	2.4
Quick Ratio	1.3	1.3	·	1.4	1.5	1.9	·	2.3	2.3	3.0	·	4.3	4.4	2.9	4.1	2.1
Debt / Equity	2.3	3.4	·	2.5	2.6	3.4	·	1.9	1.7	1.2	·	0.7	0.6	1.3	0.6	6.1
LT Debt / Equity	1.4	2.2	·	1.6	1.6	3.4	·	1.9	1.7	1.2	·	0.7	0.6	1.3	0.6	6.1
Interest Coverage	15.5	-20.5	·	13.7	9.0	10.8	·	·	·	·	·	·	·	·	·	·

Efficiency 3

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q3 2022	Q2 2022
Asset Turnover	0.3	0.3	·	0.3	0.3	0.2	·	0.2	0.2	0.2	·	0.1	·	0.4	·	·
Inventory Turnover	·	·	·	·	·	·	·	·	·	·	·	·	·	·	1.8	0.2
Receivables Turnover	0.9	0.9	·	1.1	0.9	0.9	·	1.0	0.9	1.0	·	1.2	·	4.2	·	·

Per Share 5

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q3 2022	Q2 2022
Book Value / Share	$1.59	$1.06	·	$1.47	$1.47	$1.08	·	$1.92	$2.15	$3.03	·	$5.70	$5.97	$2.57	$3.62	$0.38
Revenue / Share	$4.22	$3.73	·	$3.42	$3.03	$2.49	·	$2.18	$1.83	$1.58	·	$1.23	·	$2.17	·	·
Cash Flow / Share	·	$-0.40	·	·	·	$-0.89	·	·	·	$-1.13	·	·	·	$-0.13	·	·
Cash / Share	$6.12	$5.93	·	$6.47	$6.08	$6.11	·	$6.76	$6.60	$6.98	·	$8.80	$9.35	$5.66	$5.24	$1.84
EPS (TTM)	$-3.74	$-3.72	·	$-4.67	$-5.07	$-5.77	·	$-6.60	$-6.58	$-6.45	·	$-4.53	$-4.28	$-3.80	$-4.09	$-3.95

Valuation (TTM) 11

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q3 2022	Q2 2022
Revenue TTM	$777M	$708M	·	$561M	$495M	$432M	·	$338M	$291M	$251M	·	$223M	$182M	·	·	·
Net Income TTM	$-192M	$-188M	·	$-230M	$-247M	$-278M	·	$-311M	$-309M	$-296M	·	$-202M	$-184M	$-159M	$-160M	$-150M
Market Cap	$12.80B	$8.69B	·	$6.11B	$5.20B	$5.74B	·	$4.35B	$3.85B	$3.79B	·	$3.31B	$3.36B	$2.69B	$1.94B	$1.53B
Enterprise Value	$12.67B	$8.57B	·	$5.97B	$5.08B	$5.62B	·	$4.21B	$3.71B	$3.63B	·	$3.07B	$3.10B	$2.59B	$1.80B	$1.55B
P/E	-65.4	-45.4	·	-26.0	-20.6	-20.2	·	-13.6	-12.2	-12.4	·	-15.4	-16.8	-16.2	-10.9	-9.7
P/S	16.5	12.3	·	10.9	10.5	13.3	·	12.9	13.2	15.1	·	14.8	18.4	·	·	·
P/B	153.7	159.2	·	82.9	71.2	107.9	·	46.9	37.4	26.3	·	12.3	12.0	24.0	12.3	100.6
P / Tangible Book	377.6	2415.5	·	312.4	300.6	·	·	134.5	94.5	47.2	·	16.3	16.0	61.9	23.0	·
P / Cash Flow	·	-419.9	·	·	·	-132.3	·	·	·	-70.8	·	·	·	-461.4	·	·
EV / Revenue	16.3	12.1	·	10.6	10.3	13.0	·	12.4	12.7	14.5	·	13.7	17.0	·	·	·
Earnings Yield	-1.5%	-2.2%	·	-3.9%	-4.9%	-5.0%	·	-7.3%	-8.2%	-8.1%	·	-6.5%	-6.0%	-6.2%	-9.2%	-10.3%

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

16

Metric	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Revenue	$638M	$386M	$271M	$50M	·
Operating Margin %	-26.1%	-72.7%	-85.7%	·	·
Net Income	$-183M	$-287M	$-239M	$-187M	$-130M
Diluted EPS	$-3.68	$-5.99	$-5.27	$-4.60	$-3.47

Metric	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Debt / Equity	2.1	3.2	0.9	0.9	3.1
Current Ratio	1.6	2.1	3.6	2.5	3.8
Quick Ratio	1.4	2.0	3.5	2.5	3.7

Metric	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Free Cash Flow	$-94M	$-129M	$-146M	$-117M	$-109M

Institutional owners (13F) 553 filers · $10.3B total · As of June 30, 2026

17

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 553

Value held $10.3B

New positions 145

Exited positions 33

Institutional activity — Q2 2026 vs prior quarter

New positions	Exited positions	Increased	Decreased	Net shares change
145 (+63 vs prior Q)	33 (-19 vs prior Q)	165 (+20 vs prior Q)	164 (+19 vs prior Q)	+2.0M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution	Value	Shares	% of tracked 13F	Type
VANGUARD GROUP INC	$760,662,360	4,164,818	7.37%	Shares
BlackRock, Inc.	$759,694,607	3,103,708	7.36%	Shares
VANGUARD PORTFOLIO MANAGEMENT LLC	$485,504,722	1,983,514	4.71%	Shares
VANGUARD CAPITAL MANAGEMENT LLC	$480,994,100	1,965,086	4.66%	Shares
Invesco Ltd.	$409,178,095	1,671,684	3.97%	Shares
FMR LLC	$376,740,965	1,539,163	3.65%	Shares
GEODE CAPITAL MANAGEMENT, LLC	$236,786,194	967,172	2.29%	Shares
MORGAN STANLEY	$196,815,434	804,082	1.91%	Shares
STATE STREET CORP	$192,289,814	785,661	1.86%	Shares
Deep Track Capital, LP	$171,339,000	700,000	1.66%	Shares
TWO SIGMA INVESTMENTS, LP	$163,868,130	669,478	1.59%	Shares
FRANKLIN RESOURCES INC	$163,597,660	668,373	1.59%	Shares
WELLINGTON MANAGEMENT GROUP LLP	$160,059,998	653,920	1.55%	Shares
ALETHEA CAPITAL MANAGEMENT, LLC	$158,796,006	648,756	1.54%	Shares
D. E. Shaw & Co., Inc.	$148,025,392	604,753	1.43%	Shares
MILLENNIUM MANAGEMENT LLC	$136,113,660	556,088	1.32%	Shares
NOMURA ASSET MANAGEMENT INTERNATIONAL INC.	$132,031,000	539,407	1.28%	Shares
NORGES BANK	$125,876,889	514,266	1.22%	Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP	$118,811,358	485,400	1.15%	Put option
FIRST TRUST ADVISORS LP	$117,994,070	482,061	1.14%	Shares
Assenagon Asset Management S.A.	$111,292,513	454,682	1.08%	Shares
BANK OF AMERICA CORP /DE/	$110,756,330	452,491	1.07%	Shares
AMERIPRISE FINANCIAL INC	$104,781,493	428,079	1.02%	Shares
Pictet Asset Management Holding SA	$104,399,930	426,527	1.01%	Shares
Qube Research & Technologies Ltd	$104,354,263	426,336	1.01%	Shares
Point72 Asset Management, L.P.	$101,950,621	416,516	0.99%	Shares
JANE STREET GROUP, LLC	$98,885,856	403,995	0.96%	Shares
Hood River Capital Management LLC	$98,563,494	402,678	0.96%	Shares
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND	$91,315,610	373,067	0.89%	Shares
Driehaus Capital Management LLC	$91,170,461	372,474	0.88%	Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP	$81,802,134	334,200	0.79%	Call option
PRINCIPAL FINANCIAL GROUP INC	$81,420,780	332,642	0.79%	Shares
EVENTIDE ASSET MANAGEMENT, LLC	$77,534,680	316,820	0.75%	Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC	$77,372,776	316,104	0.75%	Shares
Integral Health Asset Management, LLC	$73,431,000	300,000	0.71%	Shares
VANGUARD FIDUCIARY TRUST CO	$68,471,470	279,738	0.66%	Shares
NORTHERN TRUST CORP	$66,134,161	270,189	0.64%	Shares
RENAISSANCE TECHNOLOGIES LLC	$64,129,740	262,000	0.62%	Shares
ADAGE CAPITAL PARTNERS GP, L.L.C.	$63,403,752	259,034	0.61%	Shares
CITADEL ADVISORS LLC	$62,631,258	255,878	0.61%	Shares
FRONTIER CAPITAL MANAGEMENT CO LLC	$62,240,116	254,280	0.60%	Shares
SAMLYN CAPITAL, LLC	$60,217,091	246,015	0.58%	Shares
Clearbridge Investments, LLC	$60,109,141	245,574	0.58%	Shares
LOOMIS SAYLES & CO L P	$58,619,967	239,490	0.57%	Shares
BNP PARIBAS FINANCIAL MARKETS	$56,530,611	230,954	0.55%	Shares
GOLDMAN SACHS GROUP INC	$56,215,836	229,668	0.54%	Shares
CANADA PENSION PLAN INVESTMENT BOARD	$55,171,158	225,400	0.53%	Shares
MARSHALL WACE, LLP	$54,678,192	223,386	0.53%	Shares
PFM Health Sciences, LP	$53,750,513	219,596	0.52%	Shares
Tri Locum Partners LP	$53,680,019	219,308	0.52%	Shares

Show all 553 institutional owners →

Activists & 5%+ owners 1 position

18

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer	Filed	Stake	Status	Purpose	Filing
Antecip Capital LLC, Herriot Tabuteau, M.D.	Dec. 4, 2015	·	Initial filing	Passive investment	SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

Company insiders 14 insiders · 8 officers · 5 directors

19

Insider	Role	Last activity	Shares owned	Sells 12m	Net 12m
Nick Pizzie	Chief Financial Officer	June 9, 2026 M	42,867	2	$-10,178,010
John Golubieski	Chief Financial Officer	Aug. 4, 2017 A	·	0	$0
Mark L. Jacobson	Chief Operating Officer	Sept. 3, 2026 M	0	4	$-8,896,262
Ari Maizel	Chief Commercial Officer	April 22, 2026 M	0	2	$-2,751,450
Hunter R. Murdock	General Counsel	April 21, 2026 A	0	0	$0
David C Marek	Chief Commercial Officer	March 17, 2020 A	·	0	$0
Constance Ames	Vice President, Finance	March 15, 2017 A	4,358	0	$0
Randall Kaye	Chief Medical Officer	Dec. 23, 2015 P	6,022	0	$0
Roger Jeffs	Director	June 11, 2026 S	58,367	2	$-141,655
Mark Coleman	Director	June 8, 2026 M	30,389	5	$-8,207,327
Susan Mahony	Director	June 8, 2026 M	829	2	$-145,017
Mark E Saad	Director	June 8, 2026 M	11,431	2	$-6,206,969
Myrtle S Potter	Director	June 7, 2019 A	·	0	$0
Herriot Tabuteau	·	Aug. 6, 2026 M	7,229	17	$-103,220,752

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 54 ETFs

20

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund	Weight	Units	As of	Source
IBRN · iShares Trust	3.57%	1,265 SH	Sept. 11, 2026	Daily
PTH · Invesco Exchange-Traded Fund Trust	3.33%	66,274 SH	Oct. 1, 2026	Daily
IHE · iShares Trust	2.08%	159,997 SH	Sept. 11, 2026	Daily
FXH · First Trust Exchange-Traded AlphaDE…	2.02%	96,954 NS	July 31, 2026	N-PORT
SAWS · ETF Series Solutions	1.33%	477 NS	July 31, 2026	N-PORT
BBP · ETFis Series Trust I	1.18%	5,319 NS	July 31, 2026	N-PORT
PILL · Direxion Shares ETF Trust	1.01%	953 NS	July 31, 2026	N-PORT
FNY · First Trust Exchange-Traded AlphaDE…	0.71%	18,750 NS	July 31, 2026	N-PORT
IBB · iShares Trust	0.67%	328,705 SH	Sept. 11, 2026	Daily
IBBQ · Invesco Exchange-Traded Fund Trust …	0.63%	3,702 SH	Oct. 1, 2026	Daily
ESSC · Strategy Shares	0.59%	968 NS	July 31, 2026	N-PORT
PDP · Invesco Exchange-Traded Fund Trust	0.52%	41,831 SH	Oct. 1, 2026	Daily
MEDI · Harbor ETF Trust	0.49%	929 NS	July 31, 2026	N-PORT
BRNY · EA Series Trust	0.47%	12,533 NS	July 31, 2026	N-PORT
HQGO · Lattice Strategies Trust	0.35%	791 NS	July 31, 2026	N-PORT
FNX · First Trust Exchange-Traded AlphaDE…	0.33%	21,040 NS	July 31, 2026	N-PORT
ISCG · iShares Trust	0.29%	13,340 SH	Sept. 11, 2026	Daily
VBK · VANGUARD INDEX FUNDS	0.29%	579,303 SH	Aug. 19, 2026	Daily
IWP · iShares Trust	0.27%	242,834 SH	Sept. 11, 2026	Daily
FAD · First Trust Exchange-Traded AlphaDE…	0.21%	5,628 NS	July 31, 2026	N-PORT
BKMC · BNY Mellon ETF Trust	0.21%	6,280 NS	July 31, 2026	N-PORT
FFSM · FIDELITY COVINGTON TRUST	0.20%	13,969 NS	July 31, 2026	N-PORT
BBMC · J.P. Morgan Exchange-Traded Fund Tr…	0.20%	18,416 NS	July 31, 2026	N-PORT
VFMO · VANGUARD WELLINGTON FUND	0.18%	14,304 SH	Aug. 19, 2026	Daily
JMOM · J.P. Morgan Exchange-Traded Fund Tr…	0.16%	18,891 NS	July 31, 2026	N-PORT
IYH · iShares Trust	0.15%	25,159 SH	Sept. 11, 2026	Daily
VHT · VANGUARD WORLD FUND	0.14%	119,127 SH	Aug. 19, 2026	Daily
FTLS · First Trust Exchange-Traded Fund III	0.13%	15,434 NS	July 31, 2026	N-PORT
VB · VANGUARD INDEX FUNDS	0.13%	1,003,143 SH	Aug. 19, 2026	Daily
SMMD · iShares Trust	0.13%	23,029 SH	Sept. 11, 2026	Daily
FHLC · FIDELITY COVINGTON TRUST	0.12%	18,841 NS	July 31, 2026	N-PORT
VXF · VANGUARD INDEX FUNDS	0.12%	495,949 SH	Aug. 19, 2026	Daily
ESML · iShares Trust	0.11%	14,935 SH	Sept. 11, 2026	Daily
VFQY · VANGUARD WELLINGTON FUND	0.10%	1,871 SH	Aug. 19, 2026	Daily
LRGF · iShares Trust	0.09%	16,402 SH	Sept. 11, 2026	Daily
EQAL · Invesco Exchange-Traded Fund Trust …	0.08%	3,574 SH	Oct. 1, 2026	Daily
ROUS · Lattice Strategies Trust	0.08%	2,668 NS	July 31, 2026	N-PORT
WSML · iShares Trust	0.08%	2,447 SH	Sept. 11, 2026	Daily
IWR · iShares Trust	0.07%	176,442 SH	Sept. 11, 2026	Daily
VONG · VANGUARD SCOTTSDALE FUNDS	0.03%	68,223 SH	Aug. 19, 2026	Daily
PRFZ · Invesco Exchange-Traded Fund Trust	0.03%	4,316 SH	Oct. 1, 2026	Daily
IWF · iShares Trust	0.03%	162,044 SH	Sept. 11, 2026	Daily
VONE · VANGUARD SCOTTSDALE FUNDS	0.02%	7,087 SH	Aug. 19, 2026	Daily
ESGV · VANGUARD WORLD FUND	0.02%	9,758 SH	Aug. 19, 2026	Daily
TILT · FlexShares Trust	0.02%	1,880 NS	July 31, 2026	N-PORT
IWB · iShares Trust	0.01%	29,751 SH	Sept. 11, 2026	Daily
ITOT · iShares Trust	0.01%	56,291 SH	Sept. 11, 2026	Daily
IWV · iShares Trust	0.01%	11,455 SH	Sept. 11, 2026	Daily
VTI · VANGUARD INDEX FUNDS	0.01%	1,389,011 SH	Aug. 19, 2026	Daily
VT · VANGUARD INTERNATIONAL EQUITY INDEX…	0.01%	35,579 SH	Aug. 19, 2026	Daily
VTHR · VANGUARD SCOTTSDALE FUNDS	0.01%	3,636 SH	Aug. 19, 2026	Daily
ISCB · iShares Trust	·	1,888 SH	Sept. 11, 2026	Daily
SMLF · iShares Trust	·	83,383 SH	Sept. 11, 2026	Daily
SMMV · iShares Trust	·	3,403 SH	Aug. 19, 2026	Daily

AXSM Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21

rating · 28 analysts BUY

Median target $278.00 +55.1%

10 35.7% Strong Buy

16 57.1% Buy

2 7.1% Hold

0 0.0% Sell

0 0.0% Strong Sell

12-Month Price Target

22 analysts · 2026-10-02

Mean target $284.63 +58.8%

← Below all targets Current price $179.25

Low$246.00 Mean$284.63 High$380.00

Peer comparison (GICS sub-industry) Key metrics vs sector peers

22

FY basis, prices as of each company's last fiscal year-end close.

Ticker	Market Cap	P/E	Rev YoY	Net Margin	ROE	Gross Margin
AXSM	$9.29B	-49.6	65.5%	-28.7%	-227.0%	·
VTRS	·	-4.2	-3.0%	-24.6%	-23.2%	35.1%
CORT	$3.69B	42.4	12.8%	13.1%	15.5%	·
ELAN	$11.25B	-48.1	6.2%	-4.9%	-3.5%	55.0%
BLTE	$6.29B	-69.2	·	·	-16.9%	·
AMRX	·	57.3	8.1%	2.4%	-80.0%	36.9%
LGND	$3.74B	30.8	60.4%	46.4%	13.5%	·
DFTX	$1.32B	-6.5	212.0%	·	-71.0%	·
LLY	·	46.8	44.7%	31.7%	101.2%	·

My Metrics Your personal watchlist — selected rows from Full Fundamentals

26

Pick the metrics that matter to you — click the + next to any row in Full Fundamentals above.

Your selection is saved and follows you across all tickers.

AXSM Axsome Therapeutics, Inc. - Common Stock