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 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $244.06M | $3.55M | $151.0K | $0 | $20.10M | $0 |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | $129.64M | $173.63M | $135.26M | $87.27M | $55.14M | $33.86M |
| SG&A | $46.85M | $40.75M | $34.83M | $27.52M | $21.33M | $12.80M |
| Total Operating Expenses | $176.49M | $214.38M | $170.09M | $114.79M | $76.47M | $46.66M |
| D&A | $1.51M | $1.23M | $815.0K | $674.0K | $378.0K | $278.0K |
| Operating Income | $67.57M | ($210.83M) | ($169.94M) | ($114.79M) | ($56.37M) | ($46.66M) |
| Interest Expense | - | $0 | $0 | $1.0K | $6.0K | - |
| Income Tax | $4.88M | $300.0K | $0 | $0 | $2.01M | ($172.0K) |
| Net Income | $87.01M | ($187.35M) | ($152.99M) | ($104.68M) | ($58.74M) | ($45.36M) |
| EPS - Basic | $2.34 | ($5.00) | ($5.20) | ($4.15) | ($2.93) | - |
| EPS - Diluted | $2.30 | ($5.00) | ($5.20) | ($4.15) | ($2.93) | - |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $287.42M | $559.93M | $331.15M | $279.05M | $230.04M | $265.88M |
| Accounts Receivable | $3.57M | $2.74M | $143.0K | $0 | $0 | - |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | $1.97M | $4.60M | $5.45M | $3.34M | $3.65M | $2.15M |
| Current Assets | $315.43M | $588.89M | $347.29M | $285.77M | $251.44M | $267.73M |
| Total Assets | $338.02M | $615.89M | $370.02M | $306.78M | $255.25M | $269.44M |
| Current Liabilities | $20.41M | $27.45M | $24.37M | $16.55M | $11.85M | $7.18M |
| Long-term Debt | - | - | - | - | - | - |
| Total Liabilities | $34.89M | $44.33M | $37.81M | $29.36M | $12.08M | $7.72M |
| Stockholders' Equity | $303.13M | $571.55M | $332.21M | $277.42M | $243.17M | $261.72M |
| Retained Earnings | ($481.76M) | ($568.78M) | ($381.43M) | ($228.43M) | ($123.75M) | ($65.01M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $107.50M | ($160.87M) | ($124.51M) | ($70.06M) | ($62.15M) | ($36.89M) |
| Investing Cash Flow | ($1.55M) | ($1.93M) | ($2.46M) | ($1.24M) | ($1.02M) | ($294.0K) |
| Financing Cash Flow | ($378.47M) | $391.82M | $178.96M | $120.31M | $28.55M | $296.04M |
| CapEx | $1.55M | $1.93M | $2.46M | $1.24M | $1.02M | $294.0K |
| Free Cash Flow | $105.95M | ($162.80M) | ($126.97M) | ($71.30M) | ($63.17M) | ($37.19M) |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | 27.7% | -5939.0% | -112543.7% | - | -280.5% | - |
| EBITDA margin | 28.3% | -5904.3% | -112004.0% | - | -278.6% | - |
| Net margin | 35.7% | -5277.5% | -101319.2% | - | -292.3% | - |
| Free cash flow margin | 43.4% | -4585.9% | -84087.4% | - | -314.3% | - |
| FCF / Net income | 1.22 | 0.87 | 0.83 | 0.68 | 1.08 | 0.82 |
| R&D / Revenue | 53.1% | 4891.0% | 89574.8% | - | 274.3% | - |
| SG&A / Revenue | 19.2% | 1148.0% | 23068.9% | - | 106.1% | - |
| Effective tax rate | 5.3% | - | - | - | - | - |
| Return on assets | 25.7% | -30.4% | -41.3% | -34.1% | -23.0% | -16.8% |
| Return on equity | 28.7% | -32.8% | -46.1% | -37.7% | -24.2% | -17.3% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 15.45 | 21.45 | 14.25 | 17.27 | 21.23 | 37.27 |
| Quick ratio | 15.45 | 21.45 | 14.25 | 17.27 | 21.23 | 37.27 |
| Cash ratio | 14.08 | 20.40 | 13.59 | 16.86 | 19.42 | 37.01 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | - | - | - | -114790.0x | -9395.5x | - |
| Equity multiplier | 1.12 | 1.08 | 1.11 | 1.11 | 1.05 | 1.03 |
| Liabilities / Assets | 0.10 | 0.07 | 0.10 | 0.10 | 0.05 | 0.03 |
| Efficiency | ||||||
| Asset turnover | 0.72 | 0.01 | 0.00 | 0.00 | 0.08 | 0.00 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 5d | 282d | 346d | - | 0d | - |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 8.9x | - | - | - | - | - |
| P / B | 2.5x | 1.0x | 3.5x | 4.4x | 3.7x | - |
| P / S | 3.2x | 166.9x | 7753.8x | - | 45.1x | - |
| EV / EBITDA | 7.0x | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | 6775.0% | 2251.0% | - | -100.0% | - | - |
| Revenue CAGR (3y) | - | -43.9% | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | - | -24.1% | -48.0% | -103.6% | -20.8% | - |
| Net income growth (YoY) | - | -22.5% | -46.2% | -78.2% | -29.5% | - |
| EPS growth (YoY) | - | 3.8% | -25.3% | -41.6% | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | - | -28.2% | -78.1% | -12.9% | -69.9% | - |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | -47.0% | 72.0% | 19.7% | 14.1% | -7.1% | - |
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%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
4.41
Safe
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
5/9
Neutral
- ✓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 Keros Therapeutics against the 5 most active filers in the same SIC group.