Aurinia Pharmaceuticals Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Aurinia 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

	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	0.17	0.42	0.46	0.32	50.1	45.6	134	176	235	283
Cost of revenue				0	0	1.09	5.66	14.1	28.2	32.7
Gross profit				0.32	50.1	44.5	128	161	207	250
Research and development	14.5	33.9	41.4	52.9	50.3	51.1	45	49.6	20.8	32.5
Selling, general and administrative				22.3	97.3	174	196	195
General and administrative			13.7	22.3	97.3	174	196	195	172	102
Operating expenses			55.7	91.3	154			267	240	178
Operating income	-25	-46.9	-55.2	-90.9	-104	-181	-111	-91.7	-4.69	105
Interest expense						0	0	2.78	4.84	4.33
Interest income	0.03	0.7	2.23	2.7	1.52	0.53	5.12	17	17	13.6
Pre-tax income		-70.8	-53	-88.2	-103	-180	-106	-77.5	7.45	114
Income tax	0	0	0.07	0.14	-0.09	0.76	1.83	0.55	1.7	-173
Net income	-23.3	-70.8	-53.1	-88.4	-103	-181	-108	-78	5.75	287
EBITDA			-55.2	-90.9	-103	-178	-109	-80	14.8	124
EPS, basic	-0.55	-0.76	-0.63	-0.95	-0.87	-1.40	-0.76	-0.54	0.04	2.14
EPS, diluted	-0.55	-0.76	-0.63	-0.95	-0.87	-1.40	-0.76	-0.54	0.04	2.07
Shares, basic (weighted)			84.8	93	118	129	142	143	143	134
Shares, diluted (weighted)			84.8	93	118	129	142	143	146	139

Balance sheet

	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	39.6	166	118	306	272	232	94.1	48.8	83.4	80.2
Short-term investments	0	7.83	7.89	0
Inventory				0	13.9	19.3	24.8	39.7	39.2	45.7
Other current assets				8.75	1.02	0.8	1.33	1.03	1.13	1.08
Total current assets	41.4	175	133	315	419	513	443	425	447	492
Property, plant and equipment	0.03	0.03	0.04	0.09	4.79	4.42	3.65	3.35	2.73	2.11
Lease right-of-use assets				0	5.49	5.38	4.91	4.5	4.07	3.6
Intangible assets	15.6	14.1	12.6	8.86	9.33	8.4	6.43	4.98	4.36	3.76
Other non-current assets				0.21	0.25	11.8	13.3	1.52	0.82	0.09
Total assets	57	190	146	324	464	543	471	548	551	752
Accounts payable	5.79	7.96	7.07	4.15	2.64	3.88	3.09	4.33	5.19	3.31
Accrued liabilities				3.74	11.4	18.5	20.2	50.1	65	66.6
Deferred revenue						0.19	3.15	4.81	11	3.72
Total current liabilities	7.93	8.15	7.26	11.3	32	40.6	46.1	77.2	97.8	93.7
Lease liabilities				0	7.62	7.68	7.15	6.53	5.74	4.9
Other non-current liabilities				6.21	16.3	16	12.2	10.9	9.4	6.66
Total liabilities	21	24.1	33.3	25.7	55.9	64.3	65.4	170	173	170
Paid-in capital				25.4	39.4	59	85.5	121	127	111
Retained earnings	-281	-352	-416	-472	-575	-756	-864	-942	-937	-649
Other comprehensive income				-0.81	-0.81	-0.85	-1.06	-0.73	-0.65	-0.6
Shareholders' equity		178	136	299	408	479	405	378	377	581
Total equity	36	166	113	274	408	479	405	378	377	581
Total liabilities and equity	57	190	146	324	464	543	471	548	551	752
Shares outstanding			85.5	112	127	142	142	144	141	132

Cash flow statement

	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-23.3	-70.8	-53.1	-88.4	-103	-181	-108	-78	5.75	287
Depreciation and amortization			0.02	0.03	1.37	2.76	2.71	11.6	19.4	19.4
Stock-based compensation			6.86	7.41	17.5	31.2	32.3	45.3	31.6	14.7
Deferred income tax			0	0	0	0	0	0	0	-176
Change in receivables			-0.11	-0.15	-0.65	-15.4	1.93	-10.6	-12.5	-4.91
Change in inventory			0	0	-13.9	-5.64	-9.07	-15.9	0.48	-6.46
Change in payables			-0.89	4.01	13.6	4.08	-0.79	1.24	0.86	-1.87
Cash from operations	-18.7	-41.2	-51.6	-63.6	-69.9	-158	-79.5	-33.5	44.4	136
Capital expenditures	-0.02	-0.03	-0.03	-0.09
Purchases of investments			-36.1	0	-203	-439	-524	-524	-546	-527
Sales and maturities of investments			36.1	7.88	52.1	354	464	529	585	494
Cash from investing	9.99	-8	-0.07	7.78	-158	-104	-60.6	-6.71	39.3	-32.8
Stock issued			0	223	188	197	1.91	1.85	1.08	0.76
Share buybacks							0	0	-40.2	-98.2
Cash from financing	42.6	175	4.01	244	194	221	2.43	-5.13	-49.1	-106
Net change in cash	33.9	126	-47.7	188	-33.7	-40.5	-138	-45.3	34.6	-3.22
Free cash flow	-18.7	-41.2	-51.6	-63.7
Income taxes paid			0	0.06	0.26	0.26	1.98	0.5	2.18	2.82

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 $16.44 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	90.4%	Gross profit / revenue.
Operating margin	48.4%	Operating income / revenue.
EBITDA margin	54.6%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	51.5%	Pre-tax income / revenue.
Net margin	100.8%	Net income / revenue.
Operating cash flow margin	56.3%	Cash from operations / revenue.
Effective tax rate	-95.9%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	51.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	39.6%	Net income / average total assets.
Return on invested capital (ROIC)	27.4%	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%.
R&D / revenue	12.8%	Research and development expense / revenue.
Stock-based pay / revenue	4.7%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	6.2%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	20.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	28.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	41.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	21.0%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	24.9%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	38.0%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	742.7%	EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y	4,893.0%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	5,075.0%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	205.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	54.0%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	12.8%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	7.4%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	36.5%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	16.9%	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	10.1%	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	-5.1%	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	-0.8%	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	3.2%	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	5.42x	Current assets / current liabilities.
Quick ratio	1.80x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.80x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	22.4%	Total liabilities / total assets.
Interest coverage	36.7x	Operating income / interest expense.
Working capital	$441.4M	Current assets - current liabilities.
Goodwill and intangibles / assets	0.4%	(Goodwill + intangible assets) / total assets.
Tangible book value	$611.5M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.39x	Revenue / average total assets.
Fixed asset turnover	167x	Revenue / average property, plant and equipment.
Inventory turnover	0.67x	Cost of revenue / average inventory.
Days inventory	549 days	365 x average inventory / cost of revenue.
Days payables	21 days	365 x average accounts payable / cost of revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	$2.29	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.
Revenue per share	$2.33	Revenue / diluted weighted shares.
Operating cash flow per share	$1.31	Cash from operations / diluted weighted shares.
Book value per share	$4.63	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$4.60	Tangible book value / shares outstanding.
Cash per share	$1.35	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$2.19B	Share price x shares outstanding.
Enterprise value	$2.01B	Market cap + total debt - cash - short-term investments.
P/E	6.96x	Market cap / net income. Only when net income is positive.
P/S	7.02x	Market cap / revenue.
P/B	3.56x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	3.58x	Market cap / tangible book value, when positive.
P/OCF	12.5x	Market cap / cash from operations, when positive.
EV/Sales	6.44x	Enterprise value / revenue.
EV/EBIT	13.3x	Enterprise value / operating income, when both are positive.
EV/EBITDA	11.8x	Enterprise value / EBITDA, when both are positive.
Earnings yield	14.4%	Net income / market cap (the inverse of P/E).
Shareholder yield	3.8%	(Dividends paid + share buybacks) / market cap.

What was Aurinia Pharmaceuticals Inc.'s revenue in fiscal 2025?

Aurinia Pharmaceuticals Inc. reported revenue of $283.1M for fiscal 2025, 20.4% higher than the year before.

Was Aurinia Pharmaceuticals Inc. profitable in fiscal 2025?

Yes. Net income was $287.2M, a net margin of 101.5%.

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.

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