Income statement, balance sheet and cash flow statement for the last 6 fiscal years, taken from the XBRL data Acumen Pharmaceuticals, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Research and development
8
12.3
32.4
42.3
93.8
105
General and administrative
1.35
7.28
12.9
18.8
20.2
18.9
Operating expenses
9.35
19.6
45.2
61.1
114
124
Operating income
-7.91
-19.6
-45.2
-61.1
-114
-124
Interest expense
0
0.58
4.07
4.22
Interest income
10.8
14.3
7.45
Other non-operating income
0.59
-81
2.38
8.77
11.7
2.5
Income tax
0
0
0
0
0
0
Net income
-7.33
-101
-42.9
-52.4
-102
-121
EBITDA
-19.6
-45.2
-61.1
-114
-124
EPS, basic
-17.48
-5.02
-1.06
-1.08
-1.71
-2.00
EPS, diluted
-17.48
-5.02
-1.06
-1.08
-1.71
-2.00
Shares, basic (weighted)
0.42
20.1
40.6
48.6
60
60.6
Shares, diluted (weighted)
0.42
20.1
40.6
48.6
60
60.6
Balance sheet
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
43.8
122
130
66.9
35.6
54
Short-term investments
72.1
47.5
177
136
62.9
Other current assets
0.54
0.14
0.24
0.28
6.75
5.39
Total current assets
44.4
199
180
247
178
122
Property, plant and equipment
0.04
0.17
0.12
0.07
0.1
Lease right-of-use assets
0
0.11
0.38
0.27
0.14
Long-term investments
31.6
15.8
62.6
60
0
Other non-current assets
0
0.01
0.15
0.72
0.49
0.35
Total assets
44.4
230
197
310
239
123
Accounts payable
0.53
1.09
1.64
1.38
5.65
0.55
Accrued liabilities
1.1
3.35
6.45
6.62
10.1
Short-term debt
0
8.77
Total current liabilities
5.15
7.81
13
27.6
30
Lease liabilities
0
0.28
0.15
Other non-current liabilities
0.28
0.15
0
Total liabilities
6.37
5.15
7.81
43.2
57.2
52.4
Total debt
0
29.9
29.4
22.4
Paid-in capital
8.37
353
360
489
507
517
Retained earnings
-27
-128
-170
-223
-325
-446
Other comprehensive income
-0.75
0.31
-0.05
0.08
Shareholders' equity
-18.6
225
189
267
182
70.4
Total equity
-18.6
225
189
267
182
70.4
Total liabilities and equity
44.4
230
197
310
239
123
Shares outstanding
0.42
40.5
41
57.9
60.1
60.6
Cash flow statement
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-7.33
-101
-42.9
-52.4
-102
-121
Depreciation and amortization
0
0.03
0.06
0.06
0.06
Stock-based compensation
0.15
0.92
3.06
6.15
9.64
9.85
Change in payables
0.31
0.56
0.55
-0.26
4.27
-5.09
Cash from operations
-7.45
-18
-35.2
-43.1
-86.2
-116
Capital expenditures
-0.04
-0.16
-0.02
-0.02
-0.09
Purchases of investments
-104
-41.5
-251
-171
-38.1
Sales and maturities of investments
0
80.9
79
219
172
Cash from investing
-104
39.2
-172
48
134
Debt issued
0
30
0
Stock issued
169
3.79
122
7.94
0
Cash from financing
44.7
200
3.91
152
6.93
-0.03
Net change in cash
37.2
78.4
7.94
-63
-31.3
18.4
Free cash flow
-18
-35.3
-43.1
-86.2
-116
Interest paid
0
0
0
0.17
2.97
2.94
Income taxes paid
0
0
0
0
0
0
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $2.24 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Return on equity (ROE)
-183.4%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-90.5%
Net income / average total assets.
Return on invested capital (ROIC)
-857.1%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Growth
Metric
Value
How it is calculated
Book value growth, 1y
-61.3%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-28.0%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
-48.6%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-14.5%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
22.6%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
0.9%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
14.3%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
170.4%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
2.47x
Current assets / current liabilities.
Quick ratio
2.35x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
2.35x
(Cash + short-term investments) / current liabilities.
Debt / equity
0.21x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
10.3%
Total debt / total assets.
Liabilities / assets
50.6%
Total liabilities / total assets.
Net debt
-$98.3M
Total debt - cash - short-term investments. Negative means more cash than debt.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
FCF per share
-$1.27
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$1.27
Cash from operations / diluted weighted shares.
Book value per share
$0.79
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/B
2.83x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
2.83x
Market cap / tangible book value, when positive.
FCF yield
-56.7%
Free cash flow / market cap.
Earnings yield
-64.8%
Net income / market cap (the inverse of P/E).
Was Acumen Pharmaceuticals, Inc. profitable in fiscal 2025?
No. It reported a net loss of $121.3M.
How much free cash flow did Acumen Pharmaceuticals, Inc. generate in fiscal 2025?
Cash from operations of $115.5M minus capital expenditures of $88.0K left free cash flow of -$115.6M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.