BHVN · Biohaven Ltd. - 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 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | - | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | $103.83M | - | $141.17M | $184.37M | $187.58M | - | $157.61M | $314.82M | $155.97M | - |
| SG&A | $26.60M | - | $28.21M | $27.33M | $33.98M | - | $20.56M | $18.95M | $27.27M | - |
| Total Operating Expenses | $130.43M | - | $169.38M | $211.70M | $221.56M | - | $178.17M | $333.77M | $183.24M | - |
| D&A | $2.37M | - | $1.10M | $1.06M | $2.25M | - | $1.00M | $977.0K | $1.45M | - |
| Operating Income | ($130.43M) | - | ($169.38M) | ($211.70M) | ($221.56M) | - | ($178.17M) | ($333.77M) | ($183.24M) | - |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | $272.0K | - | $221.0K | $261.0K | $609.0K | - | ($59.0K) | $177.0K | $569.0K | - |
| Net Income | ($130.53M) | - | ($173.44M) | ($198.15M) | ($221.68M) | - | ($160.30M) | ($319.77M) | ($179.50M) | - |
| EPS - Basic | ($0.88) | - | ($1.64) | ($1.94) | ($2.17) | - | ($1.70) | ($3.64) | ($2.20) | - |
| EPS - Diluted | ($0.88) | - | ($1.64) | ($1.94) | ($2.17) | - | ($1.70) | ($3.64) | ($2.20) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $273.07M | $229.96M | $184.85M | $165.80M | $98.42M | $99.13M | $84.39M | $239.15M | $182.71M | $248.40M |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $10.42M | $11.64M | $17.49M | $19.63M | $19.14M | $18.03M | $19.74M | $17.26M | $36.38M | $15.58M |
| Current Assets | $385.65M | $368.33M | $323.62M | $474.83M | $382.76M | $538.47M | $440.50M | $511.27M | $348.74M | $442.45M |
| Total Assets | $466.41M | $451.45M | $409.12M | $550.41M | $458.95M | $615.11M | $510.52M | $582.64M | $418.53M | $513.21M |
| Current Liabilities | $52.08M | $115.93M | $113.02M | $124.32M | $164.03M | $154.23M | $152.29M | $156.21M | $86.59M | $55.42M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $336.91M | $399.38M | $426.28M | $415.83M | $199.45M | $191.67M | $194.52M | $198.90M | $117.08M | $85.24M |
| Stockholders' Equity | $129.50M | $52.07M | ($17.16M) | $134.59M | $259.50M | $423.44M | $316.01M | $383.74M | $301.45M | $427.98M |
| Retained Earnings | ($2.22B) | ($2.08B) | ($1.94B) | ($1.77B) | ($1.57B) | ($1.35B) | ($1.16B) | ($998.57M) | ($678.80M) | ($499.29M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($149.92M) | - | - | - | ($165.12M) | - | - | - | ($102.64M) | - |
| Investing Cash Flow | $15.21M | - | - | - | $164.88M | - | - | - | $34.03M | - |
| Financing Cash Flow | $179.02M | - | - | - | $369.0K | - | - | - | $3.42M | - |
| CapEx | $0 | - | - | - | $461.0K | - | - | - | $440.0K | - |
| Free Cash Flow | ($149.92M) | - | - | - | ($165.59M) | - | - | - | ($103.08M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | - | - | - | - | - | - | - | - | - | - |
| EBITDA margin | - | - | - | - | - | - | - | - | - | - |
| Net margin | - | - | - | - | - | - | - | - | - | - |
| Free cash flow margin | - | - | - | - | - | - | - | - | - | - |
| FCF / Net income | 1.15 | - | - | - | 0.75 | - | - | - | 0.57 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | - | - | - | - | - | - | - | - | - | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -28.0% | - | -42.4% | -36.0% | -48.3% | - | -31.4% | -54.9% | -42.9% | - |
| Return on equity | -100.8% | - | 1010.7% | -147.2% | -85.4% | - | -50.7% | -83.3% | -59.5% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 7.41 | 3.18 | 2.86 | 3.82 | 2.33 | 3.49 | 2.89 | 3.27 | 4.03 | 7.98 |
| Quick ratio | 7.41 | 3.18 | 2.86 | 3.82 | 2.33 | 3.49 | 2.89 | 3.27 | 4.03 | 7.98 |
| Cash ratio | 5.24 | 1.98 | 1.64 | 1.33 | 0.60 | 0.64 | 0.55 | 1.53 | 2.11 | 4.48 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 3.60 | 8.67 | -23.84 | 4.09 | 1.77 | 1.45 | 1.62 | 1.52 | 1.39 | 1.20 |
| Liabilities / Assets | 0.72 | 0.88 | 1.04 | 0.76 | 0.43 | 0.31 | 0.38 | 0.34 | 0.28 | 0.17 |
| Efficiency | ||||||||||
| Asset turnover | - | - | - | - | - | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | 9.6x | - | - | 10.7x | 9.4x | - | 14.9x | 7.9x | 14.8x | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 41.1% | - | 4.9% | 36.6% | -20.9% | - | -61.2% | -255.0% | -104.1% | - |
| Net income growth (YoY) | 41.1% | - | -8.2% | 38.0% | -23.5% | - | -56.3% | -253.9% | -154.6% | - |
| EPS growth (YoY) | 59.4% | - | 3.5% | 46.7% | 1.4% | - | -13.3% | -175.8% | 10.6% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | 9.5% | - | - | - | -60.6% | - | - | - | -74.5% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -50.1% | -87.7% | - | -64.9% | -13.9% | -1.1% | 9.0% | -0.9% | -36.2% | -20.6% |
Peer comparison
Same SIC group: Pharmaceutical Preparations
Comparing Biohaven Ltd. against the 5 most active filers in the same SIC group.