EMMA · Emmaus Life Sciences, 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 | $1.98M | - | $3.38M | $2.82M | $2.41M | - | $5.48M | $5.38M | $2.51M | - |
| Cost of Revenue | $168.0K | - | $247.0K | $150.0K | $225.0K | - | $394.0K | $241.0K | $257.0K | - |
| Gross Profit | $1.81M | - | $3.13M | $2.67M | $2.18M | - | $5.08M | $5.14M | $2.25M | - |
| R&D | $40.0K | - | $50.0K | $56.0K | $176.0K | - | $146.0K | $191.0K | $183.0K | - |
| SG&A | $1.85M | - | $1.73M | $2.31M | $2.34M | - | $2.80M | $2.73M | $2.87M | - |
| Total Operating Expenses | $2.64M | - | $2.44M | $3.04M | $3.16M | - | $4.26M | $4.55M | $4.99M | - |
| D&A | $15.0K | - | $15.0K | $4.0K | $5.0K | - | $5.0K | $6.0K | $6.0K | - |
| Operating Income | ($823.0K) | - | $695.0K | ($370.0K) | ($980.0K) | - | $821.0K | $582.0K | ($2.74M) | - |
| Interest Expense | $2.13M | - | $1.93M | $1.68M | $1.26M | - | $1.34M | $966.0K | $1.91M | - |
| Income Tax | $4.0K | - | $579.0K | ($590.0K) | $4.0K | - | ($1.0K) | $31.0K | ($7.0K) | - |
| Net Income | ($3.33M) | - | ($2.08M) | ($1.14M) | ($2.33M) | - | $1.83M | ($2.18M) | ($4.35M) | - |
| EPS - Basic | ($0.05) | - | ($0.03) | ($0.02) | ($0.04) | - | $0.03 | ($0.03) | ($0.07) | - |
| EPS - Diluted | ($0.05) | - | ($0.03) | ($0.02) | ($0.04) | - | ($0.01) | ($0.03) | ($0.07) | - |
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 | $1.07M | $2.13M | $293.0K | $886.0K | $1.33M | $1.39M | $1.25M | $1.52M | $1.71M | $2.55M |
| Accounts Receivable | $2.05M | $2.80M | $2.62M | $2.07M | $2.06M | $2.62M | $4.94M | $4.60M | $2.99M | $5.52M |
| Inventory | $1.91M | $1.55M | $1.21M | $1.31M | $1.44M | $1.64M | $1.61M | $1.63M | $1.53M | $1.71M |
| Accounts Payable | $5.81M | $5.98M | $5.36M | $4.56M | $4.81M | $5.17M | $6.49M | $7.21M | $6.57M | $5.89M |
| Current Assets | $6.00M | $7.75M | $4.79M | $5.01M | $5.65M | $6.77M | $9.20M | $9.01M | $7.84M | $11.51M |
| Total Assets | $18.70M | $21.44M | $20.76M | $23.34M | $22.48M | $23.60M | $27.34M | $25.94M | $29.54M | $35.18M |
| Current Liabilities | $70.54M | $69.07M | $64.17M | $62.08M | $64.92M | $63.55M | $64.13M | $64.03M | $62.43M | $61.51M |
| Long-term Debt | $26.56M | $27.13M | $29.07M | $29.73M | $29.01M | $28.96M | $29.30M | $29.37M | $29.44M | $30.56M |
| Total Liabilities | $86.56M | $85.04M | $80.24M | $79.05M | $81.08M | $80.08M | $81.12M | $82.95M | $83.19M | $82.94M |
| Stockholders' Equity | ($67.86M) | ($63.61M) | ($59.49M) | ($55.70M) | ($58.60M) | ($56.48M) | ($53.78M) | ($57.01M) | ($53.64M) | ($47.76M) |
| Retained Earnings | ($273.40M) | ($270.07M) | ($268.12M) | ($266.04M) | ($264.90M) | ($262.57M) | ($260.83M) | ($262.65M) | ($260.47M) | ($256.12M) |
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 | ($344.0K) | - | - | - | $279.0K | - | - | - | $140.0K | - |
| Investing Cash Flow | $0 | - | - | - | - | - | - | - | ($4.0K) | - |
| Financing Cash Flow | ($702.0K) | - | - | - | ($345.0K) | - | - | - | ($955.0K) | - |
| CapEx | - | - | - | - | - | - | - | - | $4.0K | - |
| Free Cash Flow | - | - | - | - | - | - | - | - | $136.0K | - |
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 | 91.5% | - | 92.7% | 94.7% | 90.6% | - | 92.8% | 95.5% | 89.7% | - |
| Operating margin | -41.5% | - | 20.6% | -13.1% | -40.7% | - | 15.0% | 10.8% | -109.3% | - |
| EBITDA margin | -40.8% | - | 21.0% | -13.0% | -40.5% | - | 15.1% | 10.9% | -109.1% | - |
| Net margin | -168.3% | - | -61.5% | -40.3% | -96.8% | - | 33.4% | -40.6% | -173.5% | - |
| Free cash flow margin | - | - | - | - | - | - | - | - | 5.4% | - |
| FCF / Net income | - | - | - | - | - | - | - | - | -0.03 | - |
| R&D / Revenue | 2.0% | - | 1.5% | 2.0% | 7.3% | - | 2.7% | 3.6% | 7.3% | - |
| SG&A / Revenue | 93.3% | - | 51.2% | 81.9% | 97.2% | - | 51.1% | 50.8% | 114.5% | - |
| Effective tax rate | - | - | - | - | - | - | -0.1% | - | - | - |
| Return on assets | -17.8% | - | -10.0% | -4.9% | -10.4% | - | 6.7% | -8.4% | -14.7% | - |
| Return on equity | 4.9% | - | 3.5% | 2.0% | 4.0% | - | -3.4% | 3.8% | 8.1% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 0.08 | 0.11 | 0.07 | 0.08 | 0.09 | 0.11 | 0.14 | 0.14 | 0.13 | 0.19 |
| Quick ratio | 0.06 | 0.09 | 0.06 | 0.06 | 0.06 | 0.08 | 0.12 | 0.12 | 0.10 | 0.16 |
| Cash ratio | 0.02 | 0.03 | 0.00 | 0.01 | 0.02 | 0.02 | 0.02 | 0.02 | 0.03 | 0.04 |
| Leverage | ||||||||||
| Debt / Equity | -0.39 | -0.43 | -0.49 | -0.53 | -0.49 | -0.51 | -0.54 | -0.52 | -0.55 | -0.64 |
| Debt / Assets | 1.42 | 1.27 | 1.40 | 1.27 | 1.29 | 1.23 | 1.07 | 1.13 | 1.00 | 0.87 |
| Debt / EBITDA | - | - | 40.94 | - | - | - | 35.47 | 49.95 | - | - |
| Interest coverage | -0.4x | - | 0.4x | -0.2x | -0.8x | - | 0.6x | 0.6x | -1.4x | - |
| Equity multiplier | -0.28 | -0.34 | -0.35 | -0.42 | -0.38 | -0.42 | -0.51 | -0.45 | -0.55 | -0.74 |
| Liabilities / Assets | 4.63 | 3.97 | 3.87 | 3.39 | 3.61 | 3.39 | 2.97 | 3.20 | 2.82 | 2.36 |
| Efficiency | ||||||||||
| Asset turnover | 0.11 | - | 0.16 | 0.12 | 0.11 | - | 0.20 | 0.21 | 0.08 | - |
| Inventory turnover | 0.09 | - | 0.20 | 0.11 | 0.16 | - | 0.24 | 0.15 | 0.17 | - |
| Days sales outstanding | 377d | - | 283d | 268d | 313d | - | 329d | 312d | 435d | - |
| Days inventory outstanding | 4148d | - | 1792d | 3195d | 2331d | - | 1491d | 2466d | 2169d | - |
| Days payable outstanding | 12623d | - | 7924d | 11101d | 7798d | - | 6011d | 10926d | 9324d | - |
| Cash conversion cycle | -8098d | - | -5848d | -7638d | -5154d | - | -4191d | -8148d | -6720d | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | 0.5x | - | 0.2x | 0.3x | 0.5x | - | 0.9x | 1.2x | 2.6x | - |
| EV / EBITDA | - | - | 41.5x | - | - | - | 39.8x | 58.3x | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -17.6% | - | -38.3% | -47.6% | -4.0% | - | 9.2% | -50.0% | -62.9% | - |
| Revenue CAGR (3y) | -33.5% | - | -11.9% | -13.1% | -9.4% | - | -1.7% | -6.1% | -22.3% | - |
| Revenue CAGR (5y) | -18.0% | - | -9.6% | -8.4% | -19.1% | - | 2.3% | -1.7% | - | - |
| Gross profit growth (YoY) | -16.8% | - | -38.4% | -48.1% | -3.0% | - | 5.8% | -49.9% | -64.4% | - |
| Operating income growth (YoY) | 16.0% | - | -15.3% | - | 64.2% | - | 3320.8% | -82.5% | -135.2% | - |
| Net income growth (YoY) | -43.1% | - | - | 48.0% | 46.4% | - | 2626.9% | -47.4% | -23.3% | - |
| EPS growth (YoY) | -25.0% | - | -200.0% | 33.3% | 42.9% | - | 0.0% | 0.0% | -133.3% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -15.8% | -12.6% | -10.6% | 2.3% | -9.2% | -18.3% | -48.0% | -62.7% | -49.2% | -40.1% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$12.45M totalEndari US$9.05M · 72.7%
Endari International$3.18M · 25.5%
Product And Service Other$225.0K · 1.8%
Peer comparison
Same SIC group: Pharmaceutical Preparations
Comparing Emmaus Life Sciences against the 5 most active filers in the same SIC group.