Income statement, balance sheet and cash flow statement for the last 3 fiscal years, taken from the XBRL data Apogee Therapeutics, 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
FY2023
FY2024
FY2025
Research and development
68.4
168
215
General and administrative
24.6
49
70.9
Operating expenses
93
217
286
Operating income
-93
-217
-286
Interest income
9.02
34.7
30
Other non-operating income
9.02
34.7
30
Pre-tax income
-84
-182
-256
Income tax
0
0.02
0.28
Net income
-84
-182
-256
EBITDA
-217
-284
EPS, basic
-3.36
-3.30
-4.22
EPS, diluted
-3.36
-3.30
-4.22
Shares, basic (weighted)
25
55.2
60.7
Shares, diluted (weighted)
25
55.2
60.7
Balance sheet
FY2023
FY2024
FY2025
Cash and equivalents
118
142
132
Short-term investments
277
379
599
Other current assets
1.21
1.74
0.61
Total current assets
398
530
741
Property, plant and equipment
0.38
1.96
5.69
Lease right-of-use assets
2.22
11.4
8.69
Long-term investments
210
173
Other non-current assets
0.4
0.5
8.67
Total assets
401
754
937
Accounts payable
2.14
1.07
1.22
Accrued liabilities
17.3
24.3
23.2
Total current liabilities
20.6
28.6
27.9
Lease liabilities
0.93
8.6
5.35
Total liabilities
21.5
37.2
33.3
Paid-in capital
503
1,022
1,465
Retained earnings
-124
-306
-562
Other comprehensive income
0.33
0.92
1.08
Total liabilities and equity
401
754
937
Shares outstanding
48.3
58.1
68.4
Cash flow statement
FY2023
FY2024
FY2025
Net income
-84
-182
-256
Depreciation and amortization
0.19
1.42
Stock-based compensation
6.1
23.3
46.3
Change in payables
1.61
-1.07
0.15
Cash from operations
-74.8
-171
-227
Capital expenditures
-0.17
-1.15
-5.15
Purchases of investments
-304
-649
-642
Sales and maturities of investments
30
350
468
Cash from investing
-274
-300
-180
Stock issued
315
450
Cash from financing
315
495
396
Net change in cash
-33.3
23.5
-10.5
Free cash flow
-74.9
-172
-233
Income taxes paid
0.36
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 $135.07 on September 2, 2026.
Profitability
Metric
Value
How it is calculated
Return on assets (ROA)
-22.0%
Net income / average total assets.
Growth
Metric
Value
How it is calculated
Total assets growth, 1y
24.3%
Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y
10.0%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
26.4x
Current assets / current liabilities.
Quick ratio
25.9x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
25.9x
(Cash + short-term investments) / current liabilities.
Liabilities / assets
10.6%
Total liabilities / total assets.
Working capital
$954.2M
Current assets - current liabilities.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$3.90
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.
Market cap + total debt - cash - short-term investments.
Earnings yield
-2.9%
Net income / market cap (the inverse of P/E).
Was Apogee Therapeutics, Inc. profitable in fiscal 2025?
No. It reported a net loss of $255.8M.
How much free cash flow did Apogee Therapeutics, Inc. generate in fiscal 2025?
Cash from operations of $227.5M minus capital expenditures of $5.1M left free cash flow of -$232.6M.
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.