ABUS · Arbutus Biopharma Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $14.08M | $6.17M | $18.14M | $39.02M | $10.99M | $6.91M |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | $25.24M | $54.04M | $73.70M | $84.41M | $65.50M | $47.48M |
| SG&A | $15.89M | $22.11M | $22.48M | $17.83M | $17.14M | $14.72M |
| Total Operating Expenses | $52.24M | $82.49M | $96.24M | $104.47M | $84.51M | $64.72M |
| D&A | $363.0K | $1.38M | $1.40M | $1.43M | $1.75M | $1.98M |
| Operating Income | ($38.16M) | ($76.32M) | ($78.10M) | ($65.46M) | ($73.52M) | ($57.81M) |
| Interest Expense | $97.0K | $137.0K | $459.0K | $1.73M | $2.86M | $4.01M |
| Income Tax | $0 | $0 | $0 | $4.44M | $0 | $0 |
| Net Income | ($33.50M) | ($69.92M) | ($72.85M) | ($69.46M) | ($76.25M) | ($63.74M) |
| EPS - Basic | ($0.17) | ($0.38) | ($0.44) | ($0.46) | ($1.00) | - |
| EPS - Diluted | ($0.17) | ($0.38) | ($0.44) | ($0.46) | ($1.00) | - |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $18.01M | $36.33M | $26.29M | $30.78M | $109.28M | $52.25M |
| Accounts Receivable | $1.45M | $2.41M | $1.78M | $1.35M | $899.0K | $1.31M |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | $1.17M | $2.32M | $3.22M | $3.52M | $3.17M | $2.99M |
| Current Assets | $94.46M | $127.32M | $132.03M | $151.14M | $160.66M | $127.70M |
| Total Assets | $94.62M | $131.71M | $144.40M | $195.42M | $204.49M | $137.08M |
| Current Liabilities | $6.01M | $15.62M | $22.49M | $32.86M | $11.22M | $9.54M |
| Long-term Debt | $0 | $0 | $0 | $0 | $0 | - |
| Total Liabilities | $18.04M | $34.34M | $38.38M | $58.57M | $35.05M | $35.11M |
| Stockholders' Equity | $76.58M | $97.37M | $106.02M | $136.85M | $169.44M | $101.97M |
| Retained Earnings | ($1.38B) | ($1.35B) | ($1.28B) | ($1.20B) | ($1.13B) | ($1.05B) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | ($39.64M) | ($64.85M) | ($85.94M) | ($35.36M) | ($67.53M) | ($51.44M) |
| Investing Cash Flow | $15.58M | $22.95M | $50.77M | ($74.94M) | ($12.68M) | ($14.91M) |
| Financing Cash Flow | $5.72M | $52.00M | $30.65M | $31.81M | $137.24M | $86.75M |
| CapEx | $0 | $182.0K | $1.01M | $512.0K | $809.0K | $229.0K |
| Free Cash Flow | ($39.64M) | ($65.03M) | ($86.94M) | ($35.87M) | ($68.34M) | ($51.67M) |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | -271.0% | -1236.7% | -430.5% | -167.8% | -669.1% | -836.1% |
| EBITDA margin | -268.4% | -1214.4% | -422.8% | -164.1% | -653.2% | -807.5% |
| Net margin | -237.9% | -1133.0% | -401.6% | -178.0% | -693.9% | -922.0% |
| Free cash flow margin | -281.5% | -1053.8% | -479.3% | -91.9% | -622.0% | -747.3% |
| FCF / Net income | 1.18 | 0.93 | 1.19 | 0.52 | 0.90 | 0.81 |
| R&D / Revenue | 179.2% | 875.7% | 406.3% | 216.3% | 596.1% | 686.7% |
| SG&A / Revenue | 112.9% | 358.3% | 123.9% | 45.7% | 156.0% | 213.0% |
| Effective tax rate | - | - | - | - | - | - |
| Return on assets | -35.4% | -53.1% | -50.4% | -35.5% | -37.3% | -46.5% |
| Return on equity | -43.7% | -71.8% | -68.7% | -50.8% | -45.0% | -62.5% |
| Return on invested capital | -39.4% | -61.9% | -58.2% | -37.8% | -34.3% | - |
| Liquidity | ||||||
| Current ratio | 15.73 | 8.15 | 5.87 | 4.60 | 14.32 | 13.38 |
| Quick ratio | 15.73 | 8.15 | 5.87 | 4.60 | 14.32 | 13.38 |
| Cash ratio | 3.00 | 2.33 | 1.17 | 0.94 | 9.74 | 5.48 |
| Leverage | ||||||
| Debt / Equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | - |
| Debt / Assets | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | -393.4x | -557.1x | -170.2x | -37.9x | -25.7x | -14.4x |
| Equity multiplier | 1.24 | 1.35 | 1.36 | 1.43 | 1.21 | 1.34 |
| Liabilities / Assets | 0.19 | 0.26 | 0.27 | 0.30 | 0.17 | 0.26 |
| Efficiency | ||||||
| Asset turnover | 0.15 | 0.05 | 0.13 | 0.20 | 0.05 | 0.05 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 38d | 142d | 36d | 13d | 30d | 69d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | 12.0x | 6.2x | 3.9x | 2.6x | 1.7x | - |
| P / S | 65.4x | 98.4x | 22.9x | 9.0x | 26.8x | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | 128.2% | -66.0% | -53.5% | 255.1% | 58.9% | 15.0% |
| Revenue CAGR (3y) | -28.8% | -17.5% | 37.9% | 86.5% | 22.7% | -13.5% |
| Revenue CAGR (5y) | 15.3% | 0.5% | 25.0% | 29.5% | 49.1% | -22.6% |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | 50.0% | 2.3% | -19.3% | 11.0% | -27.2% | 59.9% |
| Net income growth (YoY) | 52.1% | 4.0% | -4.9% | 8.9% | -19.6% | 58.5% |
| EPS growth (YoY) | 55.3% | 13.6% | 4.3% | 54.0% | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | 39.1% | 25.2% | -142.4% | 47.5% | -32.3% | 27.8% |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | -21.4% | -8.2% | -22.5% | -19.2% | 66.2% | 40.2% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$14.08M totalReportable Segment$14.08M · 100.0%
Product / service
$15.75M totalCollaboration And Contracts$12.60M · 80.0%
License$1.67M · 10.6%
Non Cash Royalty$1.48M · 9.4%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
-11.01
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
3/9
Weak
- ✗Net income positive
- ✗Operating cash flow positive
- ✓ROA improved YoY
- ✗Cash flow > net income
- ✗Long-term debt decreased
- ✓Current ratio improved
- ✗No share dilution
- -Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Pharmaceutical Preparations
Comparing Arbutus Biopharma Corp against the 5 most active filers in the same SIC group.