BIOVIE INC. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data BIOVIE 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	FY2018	FY2018	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Research and development	0.47	0.37	1.01	1.15	2.54	17.3	33.3	23.1	9.27	14
Selling, general and administrative	0.07	1.77	1.26	1.31	4.64	9.77	11.6	8.85	8.57
General and administrative									8.57	8.51
Operating expenses	1.55	2.37	2.5	2.69	138	27.3	45.1	32.2	18.1	22.7
Operating income	-1.55	-2.37	-2.5	-2.69	-138	-27.3	-45.1	-32.2	-18.1	-22.7
Interest expense		0.04	0	4.77	0.56	2.16	4.3	2.89	0.33	0.02
Interest income	0	0	0	0	0.02	0.04	0.56	1.14	0.85	0.6
Other non-operating income							-5.18	0.06	0.52	0.58
Net income	-1.33	-2.43	-2.44	-16.7	-130	-26.1	-50.3	-32.1	-17.5	-22.1
EPS, basic	-97.88	-293.63	-97.88	-684.14	-1,480.00	-105.87	-154.81	-73.05	-12.12	-3.05
EPS, diluted	-97.88	-293.63	-97.88	-684.14	-1,480.00	-105.87	-154.81	-73.05	-12.12	-3.05
Shares, basic (weighted)	0.01	0.01	0.03	0.05	0.12	0.25	0.32	0.45	1.48	7.25
Shares, diluted (weighted)	0.01	0.01	0.03	0.05	0.12	0.25	0.32	0.45	1.48	7.25

Balance sheet

	FY2017	FY2018	FY2018	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	0.01	0.05	0.34	0.04	4.51	18.6	19.5	23.8	17.5	8.98
Other current assets			0.33	0.38	0.09			0.2	1.05
Total current assets	0.01	0.05	0.67	0.41	4.61	18.8	34	24	20.7	13.6
Lease right-of-use assets						0.12	0.08	0.41	0.34	0.26
Goodwill	0.35	0.35	0.35	0.35	0.35	0.35	0.35	0.35	0.35	0.35
Intangible assets	2.01	1.78	1.55	1.33	1.1	0.87	0.64	0.41	0.18
Other non-current assets						0
Total assets	2.36	2.18	2.57	2.08	6.05	20.1	35.1	25.2	21.6	14.3
Accounts payable	0.47	0.88	0.44	1.26	1	2.44	3.48	3.59	2.2	3.7
Accrued liabilities	0.13	0.35
Total current liabilities	0.63	1.24	0.44	23.5	1	4.17	14.5	9.35	2.27	3.8
Long-term debt				0.06		12.1	5.23
Lease liabilities						0.09	0.04	0.35	0.28	0.18
Other non-current liabilities						0.05
Total liabilities	1.21	2.06	0.44	23.6	1	16.4	19.8	9.7	2.55	3.98
Total debt				0.06
Paid-in capital	3.48	4.87	9.39	19.5	230	255	316	350	371	385
Retained earnings	-2.34	-4.77	-7.26	-41	-225	-251	-301	-334	-352	-374
Treasury stock							-0	-0	-0	-0
Other comprehensive income							0.18
Shareholders' equity	1.16	0.11	2.13	-21.5	5.05	3.67	15.3	15.5	19	10.3
Total equity	1.16	0.11	2.13	-21.5	5.05	3.67	15.3	15.5	19	10.3
Total liabilities and equity	2.36	2.18	2.57	2.08	6.05	20.1	35.1	25.2	21.6	14.3
Shares outstanding	0.01	0.01	0.04	0.05	0.22	0.25	0.36	0.62	1.91	7.54

Cash flow statement

	FY2017	FY2018	FY2018	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	-1.33	-2.41	-2.44	-16.7	-130	-26.1	-50.3	-32.1	-17.5	-22.1
Stock-based compensation		0.24	0.06	0.02	3.02	5.81	4.22	2.82	1.2	2.28
Change in payables	0.35	0.41	-0.12	0.82	-0.26	1.45	1.03	0.11	-1.39	1.5
Cash from operations	-0.62	-0.62	-2.5	-1.63	-10.5	-19	-40.3	-27.9	-19	-19
Cash from investing							-14.3	14.5
Stock issued	0.48	0.45			15.6	18.5	49.5	27.8	15.7	10.5
Cash from financing	0.5	0.66	2.8	1.33	14.9	33.1	55.4	17.8	12.7	10.5
Net change in cash	-0.12	0.04	0.29	-0.3	4.47	14.1	0.82	4.38	-6.3	-8.57
Interest paid				0	0.02	0.96	2.11	1.53	0.18	0.02

Key metrics

Worked out from the statements above. Latest values use fiscal 2026. Valuation uses the share price of $1.61 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Return on equity (ROE)	-150.8%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-123.3%	Net income / average total assets.
Return on invested capital (ROIC)	-1,297.0%	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	-46.0%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-12.5%	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	15.3%	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	-33.9%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-26.0%	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	18.7%	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	390.5%	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	181.6%	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	125.5%	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	3.59x	Current assets / current liabilities.
Quick ratio	2.37x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	2.37x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	27.9%	Total liabilities / total assets.
Interest coverage	-1,265x	Operating income / interest expense.
Working capital	$9.8M	Current assets - current liabilities.
Goodwill and intangibles / assets	2.4%	(Goodwill + intangible assets) / total assets.
Tangible book value	$9.9M	Shareholders' equity - goodwill - intangible assets.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$3.05	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.
EPS, basic	-$3.05	Net income per basic share, as reported (split-adjusted).
Operating cash flow per share	-$2.63	Cash from operations / diluted weighted shares.
Book value per share	$1.36	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$1.32	Tangible book value / shares outstanding.
Cash per share	$1.19	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$13.6M	Share price x shares outstanding.
Enterprise value	$4.6M	Market cap + total debt - cash - short-term investments.
P/B	1.32x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.37x	Market cap / tangible book value, when positive.
Earnings yield	-162.7%	Net income / market cap (the inverse of P/E).

Was BIOVIE INC. profitable in fiscal 2026?

No. It reported a net loss of $22.1M.

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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