MLTX · Moonlake Immunotherapeutics - 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 | - | - | - | - | - | - | - | - | - | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | $54.52M | - | $60.63M | $49.76M | $36.46M | - | $35.74M | $23.66M | $13.01M | - |
| SG&A | $15.51M | - | $10.80M | $10.94M | $11.03M | - | $7.38M | $6.92M | $6.81M | - |
| Total Operating Expenses | $70.02M | - | $71.43M | $60.70M | $47.48M | - | $43.11M | $30.58M | $19.82M | - |
| D&A | $845.0K | - | - | - | $328.0K | - | - | - | $22.8K | - |
| Operating Income | ($70.02M) | - | ($71.43M) | ($60.70M) | ($47.48M) | - | ($43.11M) | ($30.58M) | ($19.82M) | - |
| Interest Expense | $2.27M | - | $3.20M | $0 | $0 | - | - | - | - | - |
| Income Tax | $622.0K | - | $115.0K | $95.0K | $153.0K | - | $92.1K | $78.7K | $70.3K | - |
| Net Income | ($69.71M) | - | ($69.73M) | ($55.22M) | ($39.94M) | - | ($35.39M) | ($24.27M) | ($13.67M) | - |
| EPS - Basic | ($0.98) | - | ($1.10) | ($0.87) | ($0.63) | - | ($0.56) | ($0.39) | ($0.22) | - |
| EPS - Diluted | ($0.98) | - | ($1.10) | ($0.87) | ($0.63) | - | ($0.56) | ($0.39) | ($0.22) | - |
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 | $298.49M | $334.52M | $350.74M | $306.68M | $271.57M | $180.43M | $375.66M | $342.79M | $458.44M | $451.17M |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Current Assets | $396.64M | $421.69M | $411.21M | $455.48M | $506.26M | $474.29M | $512.32M | $536.88M | $553.59M | $514.17M |
| Total Assets | $400.37M | $424.43M | $414.33M | $460.10M | $511.26M | $477.93M | $518.21M | $544.88M | $564.12M | $526.54M |
| Current Liabilities | $46.11M | $45.48M | $48.37M | $27.36M | $23.98M | $22.46M | $20.08M | $12.28M | $8.91M | $9.97M |
| Long-term Debt | $99.02M | $74.10M | $73.74M | $73.38M | $73.02M | - | - | - | - | - |
| Total Liabilities | $146.35M | $119.95M | $123.14M | $102.15M | $98.68M | $24.54M | $22.71M | $14.85M | $11.73M | $13.05M |
| Stockholders' Equity | $254.02M | $304.48M | $288.91M | $353.73M | $407.52M | $446.83M | $488.20M | $520.66M | $542.55M | $495.68M |
| Retained Earnings | ($532.62M) | ($462.91M) | ($400.49M) | ($330.76M) | ($275.54M) | ($235.59M) | ($189.99M) | ($154.60M) | ($130.33M) | ($116.66M) |
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 | ($66.29M) | - | - | - | ($38.14M) | - | - | - | ($14.95M) | - |
| Investing Cash Flow | $98.0K | - | - | - | $56.25M | - | - | - | ($28.80M) | - |
| Financing Cash Flow | $30.64M | - | - | - | $73.12M | - | - | - | $50.98M | - |
| CapEx | $0 | - | - | - | $35.0K | - | - | - | $211.8K | - |
| Free Cash Flow | ($66.29M) | - | - | - | ($38.17M) | - | - | - | ($15.16M) | - |
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 | - | - | - | - | - | - | - | - | - | - |
| EBITDA margin | - | - | - | - | - | - | - | - | - | - |
| Net margin | - | - | - | - | - | - | - | - | - | - |
| Free cash flow margin | - | - | - | - | - | - | - | - | - | - |
| FCF / Net income | 0.95 | - | - | - | 0.96 | - | - | - | 1.11 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | - | - | - | - | - | - | - | - | - | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -17.4% | - | -16.8% | -12.0% | -7.8% | - | -6.8% | -4.5% | -2.4% | - |
| Return on equity | -27.4% | - | -24.1% | -15.6% | -9.8% | - | -7.2% | -4.7% | -2.5% | - |
| Return on invested capital | -15.7% | - | -15.6% | -11.2% | -7.8% | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 8.60 | 9.27 | 8.50 | 16.65 | 21.11 | 21.11 | 25.51 | 43.71 | 62.13 | 51.59 |
| Quick ratio | 8.60 | 9.27 | 8.50 | 16.65 | 21.11 | 21.11 | 25.51 | 43.71 | 62.13 | 51.59 |
| Cash ratio | 6.47 | 7.36 | 7.25 | 11.21 | 11.32 | 8.03 | 18.71 | 27.91 | 51.45 | 45.27 |
| Leverage | ||||||||||
| Debt / Equity | 0.39 | 0.24 | 0.26 | 0.21 | 0.18 | - | - | - | - | - |
| Debt / Assets | 0.25 | 0.17 | 0.18 | 0.16 | 0.14 | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -30.9x | - | -22.3x | - | - | - | - | - | - | - |
| Equity multiplier | 1.58 | 1.39 | 1.43 | 1.30 | 1.25 | 1.07 | 1.06 | 1.05 | 1.04 | 1.06 |
| Liabilities / Assets | 0.37 | 0.28 | 0.30 | 0.22 | 0.19 | 0.05 | 0.04 | 0.03 | 0.02 | 0.02 |
| Efficiency | ||||||||||
| Asset turnover | - | - | - | - | - | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | 5.2x | - | 1.6x | 8.4x | 6.1x | - | 6.5x | 5.3x | 5.8x | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | -47.5% | - | -65.7% | -98.5% | -139.6% | - | -232.2% | -131.9% | -53.3% | - |
| Net income growth (YoY) | -74.5% | - | -97.0% | -127.6% | -192.1% | - | -275.5% | -139.3% | -51.8% | - |
| EPS growth (YoY) | -55.6% | - | -96.4% | -123.1% | -186.4% | - | -211.1% | -69.6% | 4.3% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | -73.6% | - | - | - | -151.8% | - | - | - | -67.7% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -37.7% | -31.9% | -40.8% | -32.1% | -24.9% | -9.9% | 14.9% | 6.3% | 1191.8% | 913.7% |
Peer comparison
Same SIC group: Pharmaceutical Preparations
Comparing MoonLake Immunotherapeutics against the 5 most active filers in the same SIC group.