SONN · Sonnet Biotherapeutics Holdings, 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 | $1.00M | $18.6K | $147.8K | $349.9K | $483.6K | - |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | $8.36M | $5.74M | $11.81M | $16.63M | $9.88M | $9.88M |
| SG&A | $8.49M | $6.13M | $7.13M | $8.58M | $8.94M | $7.53M |
| Total Operating Expenses | $16.84M | $11.87M | $18.94M | $30.02M | $24.24M | - |
| D&A | $9.6K | $12.8K | $12.8K | $12.8K | $12.5K | $8.3K |
| Operating Income | ($15.84M) | ($11.85M) | ($18.79M) | ($29.67M) | ($25.09M) | ($24.24M) |
| Interest Expense | - | - | - | - | - | - |
| Income Tax | $218.4K | - | - | - | - | - |
| Net Income | ($16.01M) | ($7.44M) | ($18.83M) | ($29.72M) | ($24.98M) | ($24.27M) |
| EPS - Basic | ($3.95) | ($11.35) | ($18.14) | ($14.25) | - | - |
| EPS - Diluted | ($3.95) | ($11.35) | ($150.52) | - | - | - |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $5.12M | $2.27M | $2.30M | $3.05M | $27.62M | $7.35M |
| Accounts Receivable | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | $2.94M | $2.18M | $2.20M | $4.75M | $3.78M | $2.06M |
| Current Assets | $14.34M | $2.12M | $4.74M | $5.41M | $28.81M | $7.64M |
| Total Assets | $14.88M | $2.77M | $5.43M | $5.83M | $28.99M | $7.99M |
| Current Liabilities | $4.10M | $3.21M | $5.52M | $8.16M | $6.70M | $4.72M |
| Long-term Debt | - | - | - | - | - | - |
| Total Liabilities | $4.10M | $3.26M | $5.66M | $8.37M | $6.73M | $4.97M |
| Stockholders' Equity | $10.79M | ($485.7K) | ($226.0K) | ($2.54M) | $22.26M | $3.02M |
| Retained Earnings | ($133.69M) | ($117.68M) | ($110.24M) | ($91.41M) | ($61.69M) | ($36.71M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | ($12.83M) | ($8.61M) | ($21.34M) | ($27.69M) | ($22.55M) | ($15.61M) |
| Investing Cash Flow | ($12.0K) | ($12.0K) | ($443.3K) | ($896.5K) | ($3.6K) | ($76.2K) |
| Financing Cash Flow | $26.05M | $6.49M | $21.01M | $4.01M | $42.83M | $23.01M |
| CapEx | - | - | - | - | $3.6K | $76.2K |
| Free Cash Flow | - | - | - | - | ($22.56M) | ($15.69M) |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | -1584.4% | -63617.9% | -12714.5% | -8478.3% | -5187.4% | - |
| EBITDA margin | -1583.4% | -63549.0% | -12705.8% | -8474.7% | -5184.8% | - |
| Net margin | -1601.1% | -39929.3% | -12741.6% | -8493.3% | -5166.0% | - |
| Free cash flow margin | - | - | - | - | -4663.9% | - |
| FCF / Net income | - | - | - | - | 0.90 | 0.65 |
| R&D / Revenue | 835.5% | 30802.4% | 7993.4% | 4753.5% | 2042.4% | - |
| SG&A / Revenue | 848.9% | 32915.5% | 4821.0% | 2450.5% | 1847.8% | - |
| Effective tax rate | - | - | - | - | - | - |
| Return on assets | -107.6% | -268.4% | -346.9% | -509.8% | -86.2% | -303.5% |
| Return on equity | -148.4% | 1531.1% | 8333.8% | 1170.7% | -112.2% | -803.5% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 3.50 | 0.66 | 0.86 | 0.66 | 4.30 | 1.62 |
| Quick ratio | 3.50 | 0.66 | 0.86 | 0.66 | 4.30 | 1.62 |
| Cash ratio | 1.25 | 0.71 | 0.42 | 0.37 | 4.12 | 1.56 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - |
| Equity multiplier | 1.38 | -5.70 | -24.03 | -2.30 | 1.30 | 2.65 |
| Liabilities / Assets | 0.28 | 1.18 | 1.04 | 1.44 | 0.23 | 0.62 |
| Efficiency | ||||||
| Asset turnover | 0.07 | 0.01 | 0.03 | 0.06 | 0.02 | - |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | 5268.8% | -87.4% | -57.8% | -27.6% | - | - |
| Revenue CAGR (3y) | 41.9% | -66.2% | - | -77.4% | -77.3% | - |
| Revenue CAGR (5y) | - | -77.2% | -67.6% | -61.5% | -59.0% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | -33.7% | 36.9% | 36.7% | -18.3% | -3.5% | -50.7% |
| Net income growth (YoY) | -115.3% | 60.5% | 36.6% | -19.0% | -3.0% | -36.9% |
| EPS growth (YoY) | 65.2% | 92.5% | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | -43.8% | -247.2% |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | - | -114.9% | 91.1% | - | 637.1% | - |
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
-9.25
Distress
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
4/9
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 Sonnet BioTherapeutics Holdings against the 5 most active filers in the same SIC group.