MIST · Milestone Pharmaceuticals 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 | $238.0K | - | - | - | - | - | - | - | - | - |
| Cost of Revenue | $0 | - | - | - | - | - | - | - | - | - |
| Gross Profit | $238.0K | - | - | - | - | - | - | - | - | - |
| R&D | $3.25M | - | $3.94M | $3.67M | $4.98M | - | $3.96M | $2.81M | $3.64M | - |
| SG&A | $4.82M | - | $3.26M | $3.76M | $5.17M | - | $3.74M | $5.05M | $3.95M | - |
| Total Operating Expenses | $20.52M | - | - | - | - | - | - | - | - | - |
| D&A | $56.0K | - | - | - | $27.0K | - | - | - | $28.0K | - |
| Operating Income | ($23.66M) | - | ($11.83M) | ($12.53M) | ($20.52M) | - | ($9.62M) | ($9.66M) | ($10.48M) | - |
| Interest Expense | $4.13M | - | $967.0K | $951.0K | $872.0K | - | $841.0K | $887.0K | $872.0K | - |
| Income Tax | - | - | - | - | - | - | - | - | - | - |
| Net Income | ($26.07M) | - | ($11.92M) | ($12.97M) | ($20.76M) | - | ($9.44M) | ($9.36M) | ($10.35M) | - |
| EPS - Basic | ($0.20) | - | ($0.12) | ($0.20) | ($0.31) | - | ($0.14) | ($0.14) | ($0.21) | - |
| EPS - Diluted | ($0.20) | - | ($0.12) | ($0.20) | ($0.31) | - | ($0.14) | ($0.14) | ($0.21) | - |
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 | $71.32M | $73.05M | $46.69M | $42.50M | $45.09M | $25.31M | $12.80M | $13.26M | $10.13M | $13.76M |
| Accounts Receivable | $1.60M | - | - | - | - | - | - | - | - | - |
| Inventory | $1.83M | $648.0K | - | - | - | - | - | - | - | - |
| Accounts Payable | $5.64M | $5.64M | $3.18M | $2.93M | $2.38M | $1.93M | $1.63M | $749.0K | $1.73M | $3.98M |
| Current Assets | $192.25M | $111.92M | $86.67M | $46.17M | $60.48M | $73.93M | $80.99M | $87.36M | $93.97M | $73.03M |
| Total Assets | $193.73M | $113.56M | $87.75M | $47.42M | $61.88M | $75.50M | $82.71M | $89.23M | $96.00M | $75.23M |
| Current Liabilities | $20.94M | $13.98M | $10.52M | $9.28M | $12.96M | $8.13M | $5.26M | $4.57M | $4.13M | $7.23M |
| Long-term Debt | $58.19M | $57.19M | $56.21M | $55.24M | $54.29M | $53.35M | $52.43M | $51.53M | $50.64M | $49.77M |
| Total Liabilities | $157.69M | $71.79M | $67.25M | $65.16M | $68.01M | $62.35M | $58.69M | $57.25M | $56.08M | $58.45M |
| Stockholders' Equity | $36.05M | $41.77M | $20.50M | ($17.75M) | ($6.12M) | $13.15M | $24.01M | $31.98M | $39.92M | $16.77M |
| Retained Earnings | ($456.67M) | ($430.60M) | ($413.19M) | ($401.27M) | ($388.31M) | ($367.55M) | ($355.18M) | ($345.74M) | ($336.38M) | ($326.03M) |
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 | ($16.05M) | - | - | - | ($13.95M) | - | - | - | ($8.93M) | - |
| Investing Cash Flow | ($80.03M) | - | - | - | $33.58M | - | - | - | ($27.01M) | - |
| Financing Cash Flow | $94.35M | - | - | - | $140.0K | - | - | - | $32.32M | - |
| CapEx | $45.0K | - | - | - | $6.0K | - | - | - | - | - |
| Free Cash Flow | ($16.10M) | - | - | - | ($13.96M) | - | - | - | - | - |
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 | 100.0% | - | - | - | - | - | - | - | - | - |
| Operating margin | -9942.4% | - | - | - | - | - | - | - | - | - |
| EBITDA margin | -9918.9% | - | - | - | - | - | - | - | - | - |
| Net margin | -10952.1% | - | - | - | - | - | - | - | - | - |
| Free cash flow margin | -6763.9% | - | - | - | - | - | - | - | - | - |
| FCF / Net income | 0.62 | - | - | - | 0.67 | - | - | - | - | - |
| R&D / Revenue | 1366.0% | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 2026.9% | - | - | - | - | - | - | - | - | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -13.5% | - | -13.6% | -27.3% | -33.5% | - | -11.4% | -10.5% | -10.8% | - |
| Return on equity | -72.3% | - | -58.2% | 73.1% | 339.1% | - | -39.3% | -29.3% | -25.9% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 9.18 | 8.01 | 8.24 | 4.97 | 4.67 | 9.10 | 15.40 | 19.13 | 22.75 | 10.11 |
| Quick ratio | 9.09 | 7.96 | 8.24 | 4.97 | 4.67 | 9.10 | 15.40 | 19.13 | 22.75 | 10.11 |
| Cash ratio | 3.41 | 5.23 | 4.44 | 4.58 | 3.48 | 3.12 | 2.43 | 2.90 | 2.45 | 1.90 |
| Leverage | ||||||||||
| Debt / Equity | 1.61 | 1.37 | 2.74 | -3.11 | -8.87 | 4.06 | 2.18 | 1.61 | 1.27 | 2.97 |
| Debt / Assets | 0.30 | 0.50 | 0.64 | 1.16 | 0.88 | 0.71 | 0.63 | 0.58 | 0.53 | 0.66 |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -5.7x | - | -12.2x | -13.2x | -23.5x | - | -11.4x | -10.9x | -12.0x | - |
| Equity multiplier | 5.37 | 2.72 | 4.28 | -2.67 | -10.11 | 5.74 | 3.44 | 2.79 | 2.40 | 4.49 |
| Liabilities / Assets | 0.81 | 0.63 | 0.77 | 1.37 | 1.10 | 0.83 | 0.71 | 0.64 | 0.58 | 0.78 |
| Efficiency | ||||||||||
| Asset turnover | 0.00 | - | - | - | - | - | - | - | - | - |
| Inventory turnover | 0.00 | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 2461d | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | -15.3% | - | -23.0% | -29.7% | -95.9% | - | 37.4% | 41.2% | 32.4% | - |
| Net income growth (YoY) | -25.6% | - | -26.3% | -38.5% | -100.5% | - | 37.4% | 41.6% | 30.7% | - |
| EPS growth (YoY) | 35.5% | - | 14.3% | -42.9% | -47.6% | - | 60.0% | 62.2% | 40.0% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | -15.3% | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | - | 217.7% | -14.6% | - | - | -21.6% | -15.8% | -20.9% | -26.0% | -74.7% |
Peer comparison
Same SIC group: Pharmaceutical Preparations
Comparing Milestone Pharmaceuticals Inc. against the 5 most active filers in the same SIC group.