CCCC C4 Therapeutics, Inc. - Common Stock
$3.21
Price · May 20, 2026
Fundamentals as of May 12, 2026
52W Range
$1–$4
73% of range
Analyst Rating
BUY
14 analysts
Price Target
$12
+260% upside
P/E (TTM)
-1.5
ROE
-48.8%
Net Profit Margin
-292.1%
CCCC Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$3.21
Market Cap
$185M
P/E (TTM)
-1.5
EPS (TTM)
$-1.27
Revenue (TTM)
$36M
Div Yield
—
ROE
-48.8%
Debt/Equity
—
52W Range
$1 – $4
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$36M
2021-12-31
→
2025-12-31
EPS
$-1.27
2021-12-31
→
2025-12-31
Free Cash Flow
$-99M
2020-12-31
→
2025-12-31
Margins
-292.1%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
CCCC
Peer Median
P/E (TTM)
-1.5
8.1
P/S (TTM)
5.1
4.3
P/B
0.7
1.6
Price / FCF
-1.9
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
CCCC
Peer Median
Operating Margin
-320.5%
—
Net Profit Margin
-292.1%
-222.0%
ROA
-29.6%
-40.5%
ROE
-48.8%
-52.8%
ROIC
-45.0%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
CCCC
Peer Median
Current Ratio
7.8
5.8
Quick Ratio
2.3
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
CCCC
Peer Median
Revenue YoY
1.0%
—
Revenue CAGR 3Y
5.0%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
CCCC
Peer Median
CCCC Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
14 analysts
- Strong Buy 5 35.7%
- Buy 8 57.1%
- Hold 1 7.1%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
7 analysts · 2026-05-20
Median
$7.00
Mean
$11.57
← Below all targets
$3.21
Low
$6.00
High
$30.00
Median target
$7.00
+118.1%
Mean target
$11.57
+260.5%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.08%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| March 31, 2026 | $-0.20 | $-0.38 | 0.18% |
| Dec. 31, 2025 | $-0.18 | $-0.31 | 0.13% |
| Sept. 30, 2025 | $-0.44 | $-0.41 | -0.03% |
| June 30, 2025 | $-0.37 | $-0.39 | 0.02% |
| March 31, 2025 | $-0.37 | $-0.46 | 0.09% |
Peer Comparison Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| CCCC | $185M | -1.5 | 1.0% | -292.1% | -48.8% | — |
| LXEO | $725M | -5.3 | — | — | -51.9% | — |
| VNDA | $521M | -2.4 | 8.7% | -102.0% | -54.2% | — |
| PBYI | $300M | 9.8 | -0.91% | 13.6% | 26.5% | — |
| IRD | $140M | -2.5 | 29.1% | -349.3% | -302.2% | — |
| LRMR | $317M | -2.2 | — | — | -167.4% | — |
| XFOR | $364M | -2.1 | 150.0% | -1218.5% | -83.2% | — |
| FENC | $263M | -22.6 | -6.1% | -21.8% | -69.6% | — |
| MYGN | $575M | -1.6 | -1.6% | -44.4% | -96.8% | 69.9% |
| CMPX | $958M | — | — | — | -45.9% | — |
| PALI | $375M | -7.8 | — | — | -25.4% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Revenue | $36M | $36M | $21M | $31M | $46M | |
| R&D Expense | $104M | $111M | $118M | $118M | $95M | |
| SG&A Expense | $36M | $42M | $42M | $43M | $33M | |
| Operating Expenses | $151M | $155M | $160M | $161M | $128M | |
| Operating Income | $-115M | $-120M | $-139M | $-130M | $-82M | |
| Other Non-op | $10M | $14M | $8M | $1M | $-2M | |
| Pretax Income | $-105M | $-105M | $-131M | $-128M | $-84M | |
| Income Tax | $121.0K | $131.0K | $1M | $0 | $0 | |
| Net Income | $-105M | $-105M | $-132M | $-128M | $-84M | |
| EPS (Basic) | $-1.27 | $-1.52 | $-2.67 | $-2.62 | $-1.82 | |
| EPS (Diluted) | $-1.27 | $-1.52 | $-2.67 | $-2.62 | $-1.82 | |
| Shares (Basic) | 82,894,459 | 69,372,993 | 49,640,505 | 48,861,665 | 46,041,733 | |
| Shares (Diluted) | 82,894,459 | 69,372,993 | 49,640,505 | 48,861,665 | 46,041,733 | |
| EBITDA | $-115M | $-120M | $-139M | $-130M | $-82M |
Balance Sheet 22
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $75M | $55M | $127M | $30M | $76M | |
| Short-term Investments | · | · | · | · | $233M | |
| Receivables | $2M | $3M | $12M | $1M | $6M | |
| Prepaid Expense | $7M | $10M | $6M | $10M | $11M | |
| Current Assets | $258M | $258M | $271M | $288M | $326M | |
| PP&E (Net) | $5M | $6M | $7M | $7M | $3M | |
| PP&E (Gross) | $16M | $15M | $15M | $16M | $10M | |
| Accum. Depreciation | $11M | $9M | $8M | $8M | $7M | |
| Other Non-current Assets | $4M | $3M | $3M | $2M | $544.0K | |
| Total Assets | $359M | $350M | $376M | $431M | $507M | |
| Accounts Payable | $858.0K | $1M | $1M | $1M | $5M | |
| Current Liabilities | $33M | $45M | $43M | $45M | $51M | |
| Capital Leases | $54M | $60M | $66M | $71M | $31M | |
| Total Liabilities | $102M | $134M | $130M | $142M | $117M | |
| Long-term Debt | · | · | $0 | $11M | $11M | |
| Total Debt | · | · | $0 | $11M | $11M | |
| Common Stock | $9.0K | $7.0K | $6.0K | $5.0K | $5.0K | |
| Retained Earnings | $-739M | $-634M | $-528M | $-396M | $-268M | |
| AOCI | $50.0K | $53.0K | $-127.0K | $-4M | $-775.0K | |
| Stockholders' Equity | $257M | $216M | $246M | $289M | $390M | |
| Liabilities + Equity | $359M | $350M | $376M | $431M | $507M | |
| Shares Outstanding | 96,914,418 | 70,625,899 | 60,467,188 | 48,966,216 | 48,688,875 |
Cash Flow 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| D&A | $2M | $2M | $2M | $2M | $1M | |
| Stock-based Comp | $19M | $30M | $27M | $30M | $22M | |
| Restructuring | $0 | $2M | $0 | · | · | |
| Operating Cash Flow | $-99M | $-65M | $-107M | $-106M | $-87M | |
| CapEx | $607.0K | $180.0K | $2M | $5M | $1M | |
| Investing Cash Flow | $-9M | $-51M | $158M | $58M | $-189M | |
| Stock Issued | · | · | $58M | $0 | · | |
| Stock Repurchased | $193.0K | $194.0K | $110.0K | $0 | · | |
| Net Stock Activity | $-193.0K | $-194.0K | $58M | · | · | |
| Financing Cash Flow | $126M | $45M | $45M | $1M | $171M | |
| Net Change in Cash | $19M | $-71M | $97M | $-46M | $-105M | |
| Taxes Paid | $131.0K | $76.0K | · | · | · | |
| Free Cash Flow | $-99M | $-65M | $-109M | $-111M | $-88M |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Operating Margin | -320.5% | -336.1% | -669.8% | -416.6% | · | |
| Net Margin | -292.1% | -296.0% | -638.3% | -412.2% | · | |
| Pretax Margin | -291.7% | -295.6% | -632.2% | · | · | |
| EBITDA Margin | -320.5% | -336.1% | -669.8% | -416.6% | · | |
| ROA | -29.6% | -29.0% | -32.8% | -27.3% | -18.5% | |
| ROE | -48.8% | -45.9% | -57.3% | -42.2% | -21.3% | |
| ROIC | -45.0% | -55.5% | -57.0% | · | · |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Current Ratio | 7.8 | 5.7 | 6.3 | 6.5 | 6.4 | |
| Quick Ratio | 2.3 | 1.3 | 3.2 | 0.7 | 6.1 | |
| Debt / Equity | · | · | 0.0 | 0.0 | 0.0 | |
| LT Debt / Equity | · | · | 0.0 | 0.0 | 0.0 |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | 0.1 | 0.1 | · | |
| Receivables Turnover | 13.1 | 4.8 | 3.1 | 8.7 | · |
Growth Rates 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Revenue YoY | 1.0% | 71.4% | -33.2% | -32.1% | · | |
| Revenue CAGR 3Y | 5.0% | -8.1% | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Revenue TTM | $36M | $36M | $21M | $31M | $46M | |
| Net Income TTM | $-105M | $-105M | $-132M | $-128M | $-84M | |
| Market Cap | $185M | $254M | $342M | $289M | $1.57B | |
| Enterprise Value | · | · | $215M | $271M | $1.27B | |
| P/E | -1.5 | -2.4 | -2.1 | -2.3 | -17.7 | |
| P/S | 5.1 | 7.1 | 16.5 | 9.3 | 34.2 | |
| P/B | 0.7 | 1.2 | 1.4 | 1.0 | 4.0 | |
| P / Tangible Book | 0.7 | 1.2 | 1.4 | 1.0 | 4.0 | |
| P / Cash Flow | -1.9 | -3.9 | -3.2 | -2.7 | -18.0 | |
| P / FCF | -1.9 | -3.9 | -3.1 | -2.6 | -17.8 | |
| EV / EBITDA | · | · | -1.5 | -2.1 | -15.5 | |
| EV / FCF | · | · | -2.0 | -2.4 | -14.4 | |
| EV / Revenue | · | · | 10.4 | 8.7 | 27.7 | |
| Earnings Yield | -66.5% | -42.2% | -47.3% | -44.4% | -5.7% |
Income Statement 14
| Metric | Trend | 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 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6M | $11M | $11M | $6M | $7M | $5M | $15M | $12M | $3M | $3M | $11M | $3M | $4M | $3M | $7M | $14M | |
| R&D Expense | $25M | $25M | $26M | $26M | $27M | $33M | $32M | $24M | $23M | $30M | $28M | $30M | $29M | $31M | $30M | $31M | |
| SG&A Expense | $9M | $9M | $9M | $9M | $9M | $10M | $12M | $10M | $10M | $10M | $11M | $10M | $11M | $10M | $10M | $10M | |
| Operating Expenses | $34M | $34M | $46M | $35M | $36M | $43M | $44M | $33M | $35M | $41M | $39M | $40M | $40M | $41M | $39M | $41M | |
| Operating Income | $-28M | $-23M | $-34M | $-29M | $-29M | $-38M | $-28M | $-21M | $-32M | $-37M | $-28M | $-38M | $-36M | $-38M | $-32M | $-27M | |
| Other Non-op | $3M | $3M | $2M | $2M | $3M | $3M | $4M | $4M | $4M | $3M | $2M | $2M | $1M | $1M | $530.0K | $-28.0K | |
| Pretax Income | · | $-20M | $-32M | $-26M | $-26M | $-34M | $-25M | $-18M | $-28M | $-34M | $-26M | $-36M | $-35M | $-37M | $-32M | · | |
| Income Tax | $0 | $121.0K | $0 | $0 | $0 | $131.0K | $0 | $0 | $0 | $277.0K | $1M | $0 | $0 | $0 | $0 | $0 | |
| Net Income | $-25M | $-20M | $-32M | $-26M | $-26M | $-35M | $-25M | $-18M | $-28M | $-35M | $-27M | $-36M | $-35M | $-37M | $-32M | $-27M | |
| EPS (Basic) | $-0.20 | $-0.09 | $-0.44 | $-0.37 | $-0.37 | $-0.50 | $-0.35 | $-0.26 | $-0.41 | $-0.68 | $-0.55 | $-0.73 | $-0.71 | $-0.76 | $-0.65 | $-0.56 | |
| EPS (Diluted) | $-0.20 | $-0.09 | $-0.44 | $-0.37 | $-0.37 | $-0.50 | $-0.35 | $-0.26 | $-0.41 | $-0.68 | $-0.55 | $-0.73 | $-0.71 | $-0.76 | $-0.65 | $-0.56 | |
| Shares (Basic) | 126,074,555 | -131,507,639 | 72,563,311 | 71,005,743 | 70,833,044 | -137,496,624 | 69,627,190 | 68,810,259 | 68,432,168 | -97,667,571 | 49,212,126 | 49,063,631 | 49,032,319 | -97,618,788 | 48,921,928 | 48,823,698 | |
| Shares (Diluted) | 126,074,555 | -131,507,639 | 72,563,311 | 71,005,743 | 70,833,044 | -137,496,624 | 69,627,190 | 68,810,259 | 68,432,168 | -97,667,571 | 49,212,126 | 49,063,631 | 49,032,319 | -97,618,788 | 48,921,928 | 48,823,698 | |
| EBITDA | $-27M | · | $-34M | $-29M | $-29M | · | $-28M | $-21M | $-32M | · | $-28M | $-38M | $-36M | · | $-32M | $-27M |
Balance Sheet 22
| Metric | Trend | 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 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $61M | $75M | $59M | $78M | $51M | $55M | $60M | $73M | $90M | $127M | $61M | $45M | $49M | $30M | $50M | $57M | |
| Short-term Investments | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $264M | $250M | |
| Receivables | $3M | $2M | $7M | $2M | $8M | $3M | $10M | $1M | $14M | $12M | $500.0K | $1M | $528.0K | $1M | $1M | $2M | |
| Prepaid Expense | $7M | $7M | $8M | $8M | $9M | $10M | $7M | $11M | $8M | $6M | $7M | $6M | $8M | $10M | $10M | $9M | |
| Current Assets | $245M | $258M | $207M | $225M | $233M | $258M | $273M | $276M | $280M | $271M | $224M | $274M | $278M | $288M | $325M | $318M | |
| PP&E (Net) | $4M | $5M | $5M | $6M | $5M | $6M | $6M | $7M | $7M | $7M | $7M | $8M | $8M | $7M | $7M | $6M | |
| PP&E (Gross) | $16M | $16M | $16M | $16M | $15M | $15M | $15M | $15M | $15M | $15M | $15M | $15M | $16M | $16M | $15M | $14M | |
| Accum. Depreciation | $11M | $11M | $10M | $10M | $10M | $9M | $9M | $9M | $8M | $8M | $8M | $8M | $9M | $8M | $8M | $7M | |
| Other Non-current Assets | $4M | $4M | $211.0K | $178.0K | $3M | $3M | $5M | $3M | $5M | $3M | $3M | $3M | $3M | $2M | $1M | $1M | |
| Total Assets | $329M | $359M | $265M | $297M | $320M | $350M | $376M | $381M | $398M | $376M | $333M | $375M | $396M | $431M | $461M | $492M | |
| Accounts Payable | $773.0K | $858.0K | $1M | $2M | $683.0K | $1M | $2M | $913.0K | $2M | $1M | $1M | $2M | $1M | $1M | $2M | $4M | |
| Current Liabilities | $27M | $33M | $36M | $44M | $41M | $45M | $43M | $54M | $55M | $43M | $30M | $48M | $39M | $45M | $45M | $46M | |
| Capital Leases | $52M | $54M | $55M | $57M | $58M | $60M | $61M | $63M | $64M | $66M | $67M | $68M | $70M | $71M | $72M | $73M | |
| Total Liabilities | $95M | $102M | $111M | $122M | $124M | $134M | $133M | $134M | $140M | $130M | $117M | $141M | $134M | $142M | $143M | $148M | |
| Long-term Debt | · | · | · | · | · | · | · | · | · | · | $0 | $10M | $12M | $11M | $11M | $11M | |
| Total Debt | · | · | · | · | · | · | · | · | · | · | · | · | $11M | · | $11M | $11M | |
| Common Stock | $10.0K | $9.0K | $7.0K | $7.0K | $7.0K | $7.0K | $7.0K | $7.0K | $7.0K | $6.0K | $5.0K | $5.0K | $5.0K | $5.0K | $5.0K | $5.0K | |
| Retained Earnings | $-764M | $-739M | $-718M | $-686M | $-660M | $-634M | $-599M | $-574M | $-557M | $-528M | $-494M | $-467M | $-431M | $-396M | $-359M | $-327M | |
| AOCI | $-322.0K | $50.0K | $87.0K | $-30.0K | $43.0K | $53.0K | $455.0K | $-440.0K | $-380.0K | $-127.0K | $-904.0K | $-2M | $-2M | $-4M | $-5M | $-5M | |
| Stockholders' Equity | $234M | $257M | $154M | $174M | $195M | $216M | $243M | $247M | $258M | $246M | $216M | $234M | $262M | $289M | $318M | $345M | |
| Liabilities + Equity | $329M | $359M | $265M | $297M | $320M | $350M | $376M | $381M | $398M | $376M | $333M | $375M | $396M | $431M | $461M | $492M | |
| Shares Outstanding | 104,036,350 | 96,914,418 | 74,174,515 | 71,007,083 | 70,989,661 | 70,625,899 | 70,562,901 | 68,815,642 | 68,778,591 | 60,467,188 | 49,259,870 | 49,065,098 | 49,052,509 | 48,966,216 | 48,951,283 | 48,877,652 |
Cash Flow 11
| Metric | Trend | 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 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $404.0K | · | $460.0K | $615.0K | $456.0K | · | $442.0K | $448.0K | $448.0K | · | $447.0K | · | · | · | · | · | |
| Stock-based Comp | $3M | $4M | $5M | $5M | $6M | $8M | $9M | $6M | $6M | $6M | $8M | $6M | $6M | $7M | $6M | $8M | |
| Other Non-cash | $-8M | · | · | · | $-13M | · | · | · | · | · | · | · | · | · | · | · | |
| Operating Cash Flow | $-30M | $-22M | $-31M | $-12M | $-33M | $-18M | $-24M | $-5M | $-18M | $-24M | $-31M | $-19M | $-33M | $-29M | $-28M | $-22M | |
| CapEx | $64.0K | $11.0K | $411.0K | $185.0K | $0 | $-4.0K | $-13.0K | $197.0K | $0 | $157.0K | $600.0K | $362.0K | $589.0K | $1M | $3M | $529.0K | |
| Investing Cash Flow | $16M | $-81M | $4M | $39M | $29M | $14M | $162.0K | $-12M | $-53M | $32M | $58M | $15M | $54M | $9M | $20M | $33M | |
| Stock Repurchased | $200.0K | $14.0K | $24.0K | $0 | $155.0K | $0 | $85.0K | $0 | $109.0K | $0 | $16.0K | $0 | $94.0K | $0 | $0 | $0 | |
| Net Stock Activity | $-200.0K | · | · | · | $-155.0K | · | · | · | $-109.0K | · | · | · | $-94.0K | · | · | · | |
| Financing Cash Flow | $462.0K | $119M | $8M | $0 | $-46.0K | $112.0K | $11M | $135.0K | $35M | $58M | $-11M | $-746.0K | $-684.0K | $47.0K | $361.0K | $259.0K | |
| Net Change in Cash | $-13M | $16M | $-19M | $27M | $-4M | $-4M | $-13M | $-17M | $-37M | $66M | $16M | $-5M | $20M | $-20M | $-8M | $11M | |
| Free Cash Flow | $-30M | · | · | · | · | · | · | · | $-18M | · | · | · | $-34M | · | · | · |
Profitability 7
| Metric | Trend | 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 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -451.6% | · | -306.4% | -441.0% | -402.9% | · | -183.9% | -178.6% | -1060.2% | · | -251.2% | -1410.2% | -963.8% | · | -481.0% | -198.0% | |
| Net Margin | -408.5% | · | -286.4% | -402.6% | -363.7% | · | -160.6% | -147.6% | -933.2% | · | -244.2% | -1348.4% | -925.2% | · | -473.2% | -198.2% | |
| Pretax Margin | · | · | -286.4% | -402.6% | -363.7% | · | -160.6% | -147.6% | -933.2% | · | -235.1% | · | · | · | · | · | |
| EBITDA Margin | -445.1% | · | -306.4% | -441.0% | -396.6% | · | -183.9% | -178.6% | -1060.2% | · | -251.2% | -1410.2% | -963.8% | · | -481.0% | -198.0% | |
| ROA | -7.8% | · | -8.8% | -6.6% | -7.6% | · | · | · | -7.8% | · | · | · | -7.6% | · | -6.6% | -5.4% | |
| ROE | -11.7% | · | -13.6% | -10.0% | -12.0% | · | · | · | -12.0% | · | · | · | -11.1% | · | -8.9% | -7.2% | |
| ROIC | · | · | -22.3% | · | -14.9% | · | · | · | -12.5% | · | · | · | · | · | · | · |
Liquidity & Solvency 4
| Metric | Trend | 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 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 9.0 | · | 5.8 | 5.1 | 5.7 | · | · | · | 5.1 | · | · | · | 7.1 | · | 7.2 | 6.9 | |
| Quick Ratio | 2.4 | · | 1.8 | 1.8 | 1.5 | · | · | · | 1.9 | · | · | · | 1.3 | · | 7.0 | 6.7 | |
| Debt / Equity | · | · | · | · | · | · | · | · | · | · | · | · | 0.0 | · | 0.0 | 0.0 | |
| LT Debt / Equity | · | · | · | · | · | · | · | · | · | · | · | · | 0.0 | · | 0.0 | 0.0 |
Efficiency 2
| Metric | Trend | 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 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | · | 0.0 | 0.0 | 0.0 | · | · | · | 0.0 | · | · | · | 0.0 | · | 0.0 | 0.0 | |
| Receivables Turnover | 1.1 | · | 2.8 | 3.3 | 0.8 | · | · | · | 0.4 | · | · | · | 3.3 | · | 2.1 | 3.5 |
Valuation (TTM) 14
| Metric | Trend | 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 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $31M | · | $40M | $41M | $38M | · | $41M | $29M | $21M | · | $24M | $27M | $32M | · | $37M | $40M | |
| Net Income TTM | $-110M | · | $-109M | $-95M | $-97M | · | $-98M | $-109M | $-126M | · | $-130M | $-130M | $-126M | · | $-116M | $-106M | |
| Market Cap | $274M | · | $165M | $102M | $114M | · | · | · | $562M | · | · | · | $154M | · | $429M | $369M | |
| Enterprise Value | · | · | · | · | · | · | · | · | · | · | · | · | $115M | · | $127M | $72M | |
| P/E | -1.9 | · | -1.5 | -1.1 | -1.2 | · | -3.6 | -2.4 | -3.4 | · | -0.7 | -1.0 | -1.2 | · | -3.7 | -3.4 | |
| P/S | 8.8 | · | 4.1 | 2.5 | 3.0 | · | · | · | 27.4 | · | · | · | 4.8 | · | 11.7 | 9.3 | |
| P/B | 1.2 | · | 1.1 | 0.6 | 0.6 | · | · | · | 2.2 | · | · | · | 0.6 | · | 1.3 | 1.1 | |
| P / Tangible Book | 1.2 | · | 1.1 | 0.6 | 0.6 | · | · | · | 2.2 | · | · | · | 0.6 | · | 1.3 | 1.1 | |
| P / Cash Flow | -9.1 | · | · | · | -3.4 | · | · | · | -31.0 | · | · | · | -4.6 | · | · | · | |
| P / FCF | -9.1 | · | · | · | · | · | · | · | -31.0 | · | · | · | -4.6 | · | · | · | |
| EV / EBITDA | · | · | · | · | · | · | · | · | · | · | · | · | -3.2 | · | -3.9 | -2.6 | |
| EV / FCF | · | · | · | · | · | · | · | · | · | · | · | · | -3.4 | · | · | · | |
| EV / Revenue | · | · | · | · | · | · | · | · | · | · | · | · | 3.6 | · | 3.5 | 1.8 | |
| Earnings Yield | -52.5% | · | -68.9% | -94.4% | -86.9% | · | -27.5% | -42.2% | -29.4% | · | -141.9% | -96.4% | -81.8% | · | -27.0% | -29.6% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $36M | $36M | $21M | $31M | $46M |
| Operating Margin % | -320.5% | -336.1% | -669.8% | -416.6% | — |
| Net Income | $-105M | $-105M | $-132M | $-128M | $-84M |
| Diluted EPS | $-1.27 | $-1.52 | $-2.67 | $-2.62 | $-1.82 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | — | — | 0.0 | 0.0 | 0.0 |
| Current Ratio | 7.8 | 5.7 | 6.3 | 6.5 | 6.4 |
| Quick Ratio | 2.3 | 1.3 | 3.2 | 0.7 | 6.1 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-99M | $-65M | $-109M | $-111M | $-88M |
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