Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Avalo 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
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
1.15
27.8
7.03
6.75
6.7
5.4
18.1
1.92
0.44
0.06
Cost of revenue
0
0.64
3.26
-0.57
0.3
1.49
3.43
1.28
Gross profit
1.15
27.2
3.77
7.32
6.4
3.91
14.6
0.64
Research and development
10.1
4.37
5.79
11.8
32.2
59.8
31.3
13.8
24.4
50.1
Selling, general and administrative
20.7
10.3
Selling and marketing
0
0.57
0.55
1.48
2.34
2.83
General and administrative
7.08
7.94
10.5
10.1
17.4
24.7
20.7
10.3
17.2
22.9
Operating expenses
17.2
13.9
57.6
Operating income
-16.1
13.9
-35.4
-16.1
-72.8
-82.1
-37.4
-27.4
-68.5
-72.9
Other non-operating income
-0.39
-0.05
0.05
0.15
5.67
-2.41
-4.19
-4.18
33.5
-5.17
Pre-tax income
-41.6
-31.5
-35
-78.1
Income tax
0
1.97
-0.05
0.28
-2.79
-0.2
0.03
0.01
0.11
0.17
Income from continuing operations
-35.3
-16.3
-64.4
-84.3
-41.7
Net income
-16.5
11.9
-40.1
-16.1
-63.5
-84.4
-41.7
-31.5
-35.1
-78.3
EBITDA
-16.1
14.3
-30.8
-12.3
-71
-80.5
-37.3
-27.2
-68.3
-72.6
EPS, basic
-1.87
0.42
-1.20
-1,063.00
-113.58
-7.94
-5.84
EPS, diluted
-1.87
0.42
-1.20
-1,063.00
-113.58
-20.91
-5.84
Shares, basic (weighted)
8.83
18.4
34.8
0.04
0.28
4.43
13.4
Shares, diluted (weighted)
8.83
18.8
34.8
0.04
0.28
7.5
13.4
Balance sheet
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
5.13
2.47
10.6
3.61
18.9
54.6
13.2
7.42
135
15.9
Short-term investments
0
82.5
Receivables
0
Inventory
0
0.38
0.32
0.02
0
0.04
0.02
0
Other current assets
0.39
0.7
0.73
0.71
2.66
2.37
1.29
0.84
4.33
6.91
Total current assets
5.66
10.7
21.9
17.7
26
61.8
16.4
8.4
139
105
Property, plant and equipment
0.04
0.04
0.59
1.45
Lease right-of-use assets
0.72
0.92
2
1.75
1.33
0.74
0.34
Goodwill
0
12.3
14.4
14.4
14.4
14.4
14.4
10.5
10.5
10.5
Intangible assets
0
17.7
3.77
2.43
1.59
0.04
0
Long-term investments
0
Total assets
5.77
42.8
70.3
36.1
43.8
80.2
33.4
21
151
116
Accounts payable
1.01
1.3
1.45
2.08
2.57
3.37
2.88
0.45
0.28
0.14
Accrued liabilities
0.27
1.4
1.95
1.59
3.12
4.31
2.7
0.58
2.88
4.13
Deferred revenue
0
0
0.09
0
Short-term debt
2.35
0
1.05
Total current liabilities
4.31
11.1
26.2
12.2
15.2
19.9
22.1
4.62
6.96
12.9
Long-term debt
0
0
14.3
0
32.8
13.5
0
Lease liabilities
1.11
1.04
2.02
1.71
1.37
0.35
0.04
Other non-current liabilities
0
0.02
0.39
1.11
1.88
2.3
1.71
1.37
0.35
0.04
Total liabilities
5.56
14.9
49.3
15.1
19.2
57.1
44.3
13.7
17.7
33.4
Total debt
2.35
0
15.4
Paid-in capital
70.2
83.3
119
135
202
285
293
342
503
531
Retained earnings
-70
-58.2
-98.2
-114
-178
-262
-304
-335
-370
-449
Other comprehensive income
0
0.07
Shareholders' equity
0.21
27.9
20.9
21
24.6
23.1
-10.9
7.3
133
83
Total equity
0.21
27.9
20.9
21
24.6
23.1
-10.9
7.3
133
83
Total liabilities and equity
5.77
42.8
70.3
36.1
43.8
80.2
33.4
21
151
116
Shares outstanding
9.43
31.3
40.8
44.4
75
9.4
0.04
0.8
10.5
18.5
Cash flow statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-16.5
11.9
-40.1
-16.1
-63.5
-84.4
-41.7
-31.5
-35.1
-78.3
Depreciation and amortization
0.03
0.43
4.55
3.88
1.84
1.66
0.17
0.16
0.17
0.34
Stock-based compensation
1.69
1.16
2.43
2.53
6.79
8.17
7.55
3.48
5.85
13.6
Deferred income tax
0
-0.83
-0.02
0.02
-0.2
0.02
0.03
0.01
0.11
0.17
Change in receivables
-0.13
-0.25
-0.22
1.66
-0.68
1.12
1.06
0
Change in inventory
0
-0.02
-0.31
0.53
0.02
-0.04
0.02
0.02
0
Change in payables
0.33
0.1
0.08
1.02
0.1
0.8
-0.49
-2.44
-0.16
-0.15
Cash from operations
-14.6
12.6
-3.13
-19.1
-40.5
-70.9
-26.8
-30.7
-49.1
-51.5
Capital expenditures
-0.03
-0.02
-0.56
-0.26
-0.06
-0.11
-0.1
-0.16
0
Acquisitions
0
-18.9
-0
0
Purchases of investments
0
-114
Sales and maturities of investments
0
32
Cash from investing
-0.03
-18.9
0.87
-0.44
11.1
-0.11
-0.1
-0.13
0.36
-81.7
Debt repaid
-3.31
-2.37
0
-0.26
0
0
0
-21.2
0
Stock issued
2
1.69
0
8.98
35.4
29
0
32.5
0
14.8
Cash from financing
-1.43
3.74
10.4
12.6
44.8
107
-14.7
25
176
14.6
Net change in cash
-16
-2.6
8.14
-7.02
15.4
35.8
-41.5
-5.77
127
-119
Free cash flow
-14.6
12.6
-3.69
-19.4
-40.6
-71
-26.8
-30.8
-49.1
Interest paid
0.35
0.07
0.53
1.05
0
1.59
2.93
1.93
0
Income taxes paid
0
0.54
0.35
1.8
0.47
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 $15.47 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Return on equity (ROE)
-22.4%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-20.4%
Net income / average total assets.
Return on invested capital (ROIC)
-19.9%
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
Revenue growth, 1y
-86.6%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-85.2%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
-61.2%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y
-37.6%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 5y
27.6%
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
-22.7%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
51.7%
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
21.6%
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
78.8%
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
599.3%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
19.3x
Current assets / current liabilities.
Quick ratio
18.9x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
18.9x
(Cash + short-term investments) / current liabilities.
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.
Operating cash flow per share
-$1.57
Cash from operations / diluted weighted shares.
Book value per share
$8.48
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/B
1.85x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
1.89x
Market cap / tangible book value, when positive.
Earnings yield
-12.1%
Net income / market cap (the inverse of P/E).
What was Avalo Therapeutics, Inc.'s revenue in fiscal 2025?
Avalo Therapeutics, Inc. reported revenue of $59.0K for fiscal 2025, 86.6% lower than the year before.
Was Avalo Therapeutics, Inc. profitable in fiscal 2025?
No. It reported a net loss of $78.3M.
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.