HCWB · Hcw Biologics 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 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Revenue | - | - | - | - | $4.10M |
| Cost of Revenue | $43.4K | $1.61M | $2.28M | $0 | - |
| Gross Profit | $10.8K | $959.4K | $560.4K | $0 | - |
| R&D | $5.44M | $6.39M | $7.68M | $9.34M | $7.26M |
| SG&A | $7.70M | $6.84M | $13.35M | $8.33M | $2.67M |
| Total Operating Expenses | $13.17M | $30.44M | $26.28M | $17.67M | $9.92M |
| D&A | $507.0K | $1.18M | $1.14M | $717.9K | $572.9K |
| Operating Income | ($13.16M) | ($29.48M) | ($25.72M) | ($15.08M) | ($5.82M) |
| Interest Expense | $845.1K | $631.1K | $283.0K | $0 | - |
| Income Tax | $0 | $0 | $0 | $0 | $0 |
| Net Income | ($7.96M) | ($30.02M) | ($24.99M) | ($14.90M) | ($5.80M) |
| EPS - Basic | ($10.63) | ($30.80) | ($28.00) | ($27.60) | - |
| EPS - Diluted | ($10.63) | ($30.80) | ($28.00) | ($27.60) | - |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Cash & Equivalents | $1.95M | $4.67M | $3.60M | $22.33M | $11.73M |
| Accounts Receivable | $32.2K | $582.2K | $1.54M | $417.7K | $133.0K |
| Inventory | - | - | - | - | - |
| Accounts Payable | $13.14M | $22.33M | $6.17M | $1.23M | $223.7K |
| Current Assets | $2.28M | $5.70M | $6.40M | $34.07M | $40.48M |
| Total Assets | $24.52M | $30.24M | $28.51M | $46.81M | $53.51M |
| Current Liabilities | $21.06M | $29.63M | $8.75M | $2.96M | $2.32M |
| Long-term Debt | $0 | $7.38M | $6.30M | $6.41M | - |
| Total Liabilities | $21.76M | $37.01M | $15.05M | $9.38M | - |
| Stockholders' Equity | $2.76M | ($6.77M) | $13.46M | $37.43M | $51.19M |
| Retained Earnings | ($108.52M) | ($100.56M) | ($70.53M) | ($45.54M) | ($30.64M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Operating Cash Flow | ($13.39M) | ($14.23M) | ($22.51M) | ($10.39M) | ($10.43M) |
| Investing Cash Flow | $0 | ($261.6K) | $3.80M | $14.71M | ($186.7K) |
| Financing Cash Flow | $10.67M | $15.57M | ($14.5K) | $6.27M | $11.72M |
| CapEx | $0 | $261.6K | $6.20M | $10.28M | $186.7K |
| Free Cash Flow | ($13.39M) | ($14.49M) | ($28.72M) | ($20.66M) | ($10.62M) |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Profitability | |||||
| Gross margin | - | - | - | - | - |
| Operating margin | - | - | - | - | -142.1% |
| EBITDA margin | - | - | - | - | -128.1% |
| Net margin | - | - | - | - | -141.5% |
| Free cash flow margin | - | - | - | - | -259.0% |
| FCF / Net income | 1.68 | 0.48 | 1.15 | 1.39 | 1.83 |
| R&D / Revenue | - | - | - | - | 177.0% |
| SG&A / Revenue | - | - | - | - | 65.1% |
| Effective tax rate | - | - | - | - | - |
| Return on assets | -32.5% | -99.3% | -87.7% | -31.8% | -10.8% |
| Return on equity | -287.9% | 443.5% | -185.7% | -39.8% | -11.3% |
| Return on invested capital | -376.1% | -3832.4% | -102.8% | -27.2% | - |
| Liquidity | |||||
| Current ratio | 0.11 | 0.19 | 0.73 | 11.52 | 17.44 |
| Quick ratio | 0.11 | 0.19 | 0.73 | 11.52 | 17.44 |
| Cash ratio | 0.09 | 0.16 | 0.41 | 7.55 | 5.05 |
| Leverage | |||||
| Debt / Equity | 0.00 | -1.09 | 0.47 | 0.17 | - |
| Debt / Assets | 0.00 | 0.24 | 0.22 | 0.14 | - |
| Debt / EBITDA | - | - | - | - | - |
| Interest coverage | -15.6x | -46.7x | -90.9x | - | - |
| Equity multiplier | 8.87 | -4.47 | 2.12 | 1.25 | 1.05 |
| Liabilities / Assets | 0.89 | 1.22 | 0.53 | 0.20 | - |
| Efficiency | |||||
| Asset turnover | - | - | - | - | 0.08 |
| Inventory turnover | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | 12d |
| Days inventory outstanding | - | - | - | - | - |
| Days payable outstanding | 110573d | 5071d | 987d | - | - |
| Cash conversion cycle | - | - | - | - | - |
| Valuation | |||||
| P / E | - | - | - | - | - |
| P / B | 0.7x | - | 130.8x | 38.4x | - |
| P / S | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - |
| Growth | |||||
| Revenue growth (YoY) | - | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - |
| Gross profit growth (YoY) | -98.9% | 71.2% | - | - | - |
| Operating income growth (YoY) | 55.4% | -14.6% | -70.6% | -158.9% | - |
| Net income growth (YoY) | 73.5% | -20.1% | -67.7% | -156.8% | - |
| EPS growth (YoY) | 65.5% | -10.0% | -1.4% | - | - |
| EPS CAGR (3y) | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - |
| FCF growth (YoY) | 7.6% | 49.5% | -39.0% | -94.6% | - |
| FCF CAGR (5y) | - | - | - | - | - |
| Book value growth (YoY) | - | - | -64.0% | -26.9% | - |
Stability scores
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 HCW Biologics Inc. against the 5 most active filers in the same SIC group.