KROS · Keros 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 | $367.0K | - | $14.26M | $18.17M | $211.25M | - | $388.0K | $0 | $83.0K | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | $16.10M | - | $19.52M | $43.50M | $48.71M | - | $49.23M | $40.52M | $38.26M | - |
| SG&A | $10.15M | - | $10.13M | $14.48M | $10.50M | - | $9.82M | $9.96M | $10.31M | - |
| Total Operating Expenses | $26.24M | - | $29.65M | $57.98M | $59.21M | - | $59.05M | $50.48M | $48.57M | - |
| D&A | $403.0K | - | - | - | $344.0K | - | - | - | $277.0K | - |
| Operating Income | ($25.88M) | - | ($15.38M) | ($39.82M) | $152.04M | - | ($58.66M) | ($50.44M) | ($48.48M) | - |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | $0 | - | $0 | ($2.22M) | $0 | - | - | - | - | - |
| Net Income | ($23.71M) | - | ($7.28M) | ($30.70M) | $148.45M | - | ($52.96M) | ($45.26M) | ($43.11M) | - |
| EPS - Basic | ($1.21) | - | ($0.18) | ($0.76) | $3.66 | - | ($1.41) | ($1.25) | ($1.21) | - |
| EPS - Diluted | ($1.21) | - | ($0.18) | ($0.76) | $3.62 | - | ($1.41) | ($1.25) | ($1.21) | - |
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 | $281.50M | $287.42M | $693.47M | $690.22M | $720.54M | $559.93M | $530.68M | $405.86M | $442.44M | $331.15M |
| Accounts Receivable | $400.0K | $3.57M | $3.49M | $15.82M | $17.29M | $2.74M | $388.0K | $4.0K | $226.0K | $143.0K |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $1.49M | $1.97M | $2.30M | $5.27M | $6.64M | $4.60M | $4.98M | $6.54M | $4.99M | $5.45M |
| Current Assets | $290.68M | $315.43M | $719.31M | $732.81M | $759.51M | $588.89M | $552.05M | $432.71M | $463.13M | $347.29M |
| Total Assets | $312.29M | $338.02M | $742.78M | $757.16M | $784.56M | $615.89M | $579.27M | $455.02M | $485.82M | $370.02M |
| Current Liabilities | $12.85M | $20.41M | $24.09M | $34.71M | $39.38M | $27.45M | $29.01M | $21.25M | $18.72M | $24.37M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $26.66M | $34.89M | $39.20M | $50.43M | $55.69M | $44.33M | $46.44M | $34.11M | $31.87M | $37.81M |
| Stockholders' Equity | $285.63M | $303.13M | $703.58M | $706.73M | $728.87M | $571.55M | $532.84M | $420.92M | $453.95M | $332.21M |
| Retained Earnings | ($505.47M) | ($481.76M) | ($458.30M) | ($451.02M) | ($420.33M) | ($568.78M) | ($522.75M) | ($469.80M) | ($424.54M) | ($381.43M) |
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 | ($3.53M) | - | - | - | $161.17M | - | - | - | ($44.56M) | - |
| Investing Cash Flow | ($73.0K) | - | - | - | ($565.0K) | - | - | - | ($946.0K) | - |
| Financing Cash Flow | ($2.32M) | - | - | - | $4.0K | - | - | - | $156.80M | - |
| CapEx | $73.0K | - | - | - | $565.0K | - | - | - | $946.0K | - |
| Free Cash Flow | ($3.60M) | - | - | - | $160.61M | - | - | - | ($45.51M) | - |
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 | -7051.0% | - | -107.9% | -219.2% | 72.0% | - | -15117.8% | - | -58413.3% | - |
| EBITDA margin | -6941.1% | - | - | - | 72.1% | - | - | - | -58079.5% | - |
| Net margin | -6459.9% | - | -51.0% | -169.0% | 70.3% | - | -13648.5% | - | -51944.6% | - |
| Free cash flow margin | -981.5% | - | - | - | 76.0% | - | - | - | -54826.5% | - |
| FCF / Net income | 0.15 | - | - | - | 1.08 | - | - | - | 1.06 | - |
| R&D / Revenue | 4386.1% | - | 136.9% | 239.4% | 23.1% | - | 12686.9% | - | 46094.0% | - |
| SG&A / Revenue | 2764.9% | - | 71.0% | 79.7% | 5.0% | - | 2530.9% | - | 12419.3% | - |
| Effective tax rate | - | - | - | - | 0.0% | - | - | - | - | - |
| Return on assets | -7.6% | - | -1.0% | -4.1% | 18.9% | - | -9.1% | -9.9% | -8.9% | - |
| Return on equity | -8.3% | - | -1.0% | -4.3% | 20.4% | - | -9.9% | -10.8% | -9.5% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 22.62 | 15.45 | 29.86 | 21.11 | 19.29 | 21.45 | 19.03 | 20.37 | 24.74 | 14.25 |
| Quick ratio | 22.62 | 15.45 | 29.86 | 21.11 | 19.29 | 21.45 | 19.03 | 20.37 | 24.74 | 14.25 |
| Cash ratio | 21.90 | 14.08 | 28.78 | 19.89 | 18.30 | 20.40 | 18.30 | 19.10 | 23.64 | 13.59 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 1.09 | 1.12 | 1.06 | 1.07 | 1.08 | 1.08 | 1.09 | 1.08 | 1.07 | 1.11 |
| Liabilities / Assets | 0.09 | 0.10 | 0.05 | 0.07 | 0.07 | 0.07 | 0.08 | 0.07 | 0.07 | 0.10 |
| Efficiency | ||||||||||
| Asset turnover | 0.00 | - | 0.02 | 0.02 | 0.27 | - | 0.00 | 0.00 | 0.00 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 398d | - | 89d | 318d | 30d | - | 365d | - | 994d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | 2.8x | - | - | - | - | - |
| P / B | 0.8x | - | 0.9x | 0.8x | 0.6x | - | 4.1x | 3.9x | 5.2x | - |
| P / S | 590.5x | - | 45.1x | 29.8x | 2.0x | - | 5626.0x | - | 28462.3x | - |
| EV / EBITDA | - | - | - | - | -2.0x | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -99.8% | - | 3575.8% | - | 254413.3% | - | 4750.0% | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | - | - | 73.8% | 21.1% | - | - | -35.5% | -22.0% | -24.7% | - |
| Net income growth (YoY) | - | - | 86.3% | 32.2% | - | - | -34.3% | -20.7% | -20.4% | - |
| EPS growth (YoY) | - | - | 87.2% | 39.2% | - | - | -6.0% | 1.6% | 4.0% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | -28.9% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -60.8% | -47.0% | 32.0% | 67.9% | 60.6% | 72.0% | 80.1% | 29.0% | 27.9% | 19.7% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$244.06M totalReportable Segment$244.06M · 100.0%
Product / service
$487.92M totalLicense Revenue$205.35M · 42.1%
License$205.35M · 42.1%
Service Other$38.71M · 7.9%
Service$38.50M · 7.9%
Peer comparison
Same SIC group: Pharmaceutical Preparations
Comparing Keros Therapeutics against the 5 most active filers in the same SIC group.