CADL · Candel Therapeutics, Inc. - 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 | $9.84M | - | $8.46M | $6.99M | $4.02M | - | $5.42M | $4.98M | $4.10M | - |
| SG&A | $6.44M | - | $4.75M | $4.19M | $4.11M | - | $3.34M | $3.59M | $3.80M | - |
| Total Operating Expenses | $16.28M | - | $13.21M | $11.18M | $8.13M | - | $8.76M | $8.57M | $7.90M | - |
| D&A | $149.0K | - | $200.0K | $200.0K | $245.0K | - | $200.0K | $200.0K | $251.0K | - |
| Operating Income | ($16.28M) | - | ($13.21M) | ($11.18M) | ($8.13M) | - | ($8.76M) | ($8.57M) | ($7.90M) | - |
| Interest Expense | $1.56M | - | $161.0K | $236.0K | $306.0K | - | $487.0K | $567.0K | $646.0K | - |
| Income Tax | - | - | - | - | - | - | - | - | - | - |
| Net Income | ($8.86M) | - | ($11.27M) | ($4.80M) | $7.38M | - | ($10.65M) | ($22.24M) | ($8.22M) | - |
| EPS - Basic | ($0.14) | - | ($0.21) | ($0.09) | $0.15 | - | ($0.33) | ($0.74) | ($0.28) | - |
| EPS - Diluted | ($0.14) | - | ($0.21) | ($0.09) | $0.13 | - | ($0.33) | ($0.74) | ($0.28) | - |
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 | $194.83M | $119.73M | $86.96M | $100.69M | $92.17M | $102.65M | $16.56M | $21.45M | $25.71M | $35.41M |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $3.04M | $1.13M | $1.12M | $1.95M | $760.0K | $237.0K | $296.0K | $433.0K | $472.0K | $422.0K |
| Current Assets | $197.75M | $121.39M | $90.13M | $103.61M | $93.15M | $103.80M | $18.09M | $22.73M | $27.14M | $36.80M |
| Total Assets | $201.92M | $125.19M | $93.60M | $105.97M | $95.91M | $106.87M | $21.52M | $26.48M | $31.22M | $41.20M |
| Current Liabilities | $7.05M | $9.00M | $10.93M | $14.71M | $20.07M | $37.53M | $15.27M | $14.00M | $13.54M | $14.18M |
| Long-term Debt | - | - | - | - | - | $1.73M | $4.22M | $6.71M | $9.17M | $11.63M |
| Total Liabilities | $63.89M | $73.27M | $13.47M | $15.76M | $21.23M | $40.54M | $36.77M | $36.46M | $25.24M | $28.46M |
| Stockholders' Equity | $138.03M | $51.92M | $80.12M | $90.21M | $74.67M | $66.33M | ($15.26M) | ($9.97M) | $5.98M | $12.74M |
| Retained Earnings | ($239.25M) | ($230.39M) | ($200.89M) | ($189.62M) | ($184.83M) | ($192.21M) | ($178.13M) | ($167.49M) | ($145.25M) | ($137.03M) |
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 | ($18.04M) | - | - | - | ($8.62M) | - | - | - | ($8.44M) | - |
| Investing Cash Flow | ($675.0K) | - | - | - | ($3.0K) | - | - | - | ($7.0K) | - |
| Financing Cash Flow | $93.81M | - | - | - | ($1.87M) | - | - | - | ($1.25M) | - |
| CapEx | $675.0K | - | - | - | $3.0K | - | - | - | $7.0K | - |
| Free Cash Flow | ($18.71M) | - | - | - | ($8.62M) | - | - | - | ($8.45M) | - |
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 | 2.11 | - | - | - | -1.17 | - | - | - | 1.03 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | - | - | - | - | - | - | - | - | - | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -4.4% | - | -12.0% | -4.5% | 7.7% | - | -49.5% | -84.0% | -26.3% | - |
| Return on equity | -6.4% | - | -14.1% | -5.3% | 9.9% | - | 69.8% | 223.0% | -137.5% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 28.05 | 13.49 | 8.25 | 7.04 | 4.64 | 2.77 | 1.18 | 1.62 | 2.00 | 2.59 |
| Quick ratio | 28.05 | 13.49 | 8.25 | 7.04 | 4.64 | 2.77 | 1.18 | 1.62 | 2.00 | 2.59 |
| Cash ratio | 27.63 | 13.31 | 7.96 | 6.84 | 4.59 | 2.74 | 1.08 | 1.53 | 1.90 | 2.50 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | 0.03 | -0.28 | -0.67 | 1.53 | 0.91 |
| Debt / Assets | - | - | - | - | - | 0.02 | 0.20 | 0.25 | 0.29 | 0.28 |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -10.4x | - | -82.0x | -47.4x | -26.6x | - | -18.0x | -15.1x | -12.2x | - |
| Equity multiplier | 1.46 | 2.41 | 1.17 | 1.17 | 1.28 | 1.61 | -1.41 | -2.66 | 5.22 | 3.23 |
| Liabilities / Assets | 0.32 | 0.59 | 0.14 | 0.15 | 0.22 | 0.38 | 1.71 | 1.38 | 0.81 | 0.69 |
| Efficiency | ||||||||||
| Asset turnover | - | - | - | - | - | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | 43.5x | - | - | - | - | - |
| P / B | 2.2x | - | 3.5x | 2.9x | 4.1x | - | - | - | 7.7x | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | -100.3% | - | -50.8% | -30.4% | -2.9% | - | 1.2% | 10.5% | 18.0% | - |
| Net income growth (YoY) | - | - | -5.9% | 78.4% | - | - | -26.2% | -131.3% | 6.5% | - |
| EPS growth (YoY) | - | - | 36.4% | 87.8% | - | - | -13.8% | -124.2% | 6.7% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | -117.1% | - | - | - | -2.1% | - | - | - | 22.9% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 84.8% | -21.7% | - | - | 1149.0% | 420.4% | - | - | -84.9% | -73.3% |
Peer comparison
Same SIC group: Biological Products, (No Diagnostic Substances)
Comparing Candel Therapeutics against the 5 most active filers in the same SIC group.