Income statement, balance sheet and cash flow statement for the last 6 fiscal years, taken from the XBRL data CASI 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
FY2020
FY2022
FY2022
FY2023
FY2024
FY2025
Revenue
15.1
30.2
43.1
33.9
28.5
20.7
Cost of revenue
9.51
12.6
15.8
13.8
17.4
10.6
Gross profit
5.63
17.6
27.3
20.1
11.1
10.1
Research and development
11.5
14.4
16
9.86
8.92
6.31
Selling and marketing
7.82
14.7
14.3
16.5
17.9
18.3
General and administrative
19.7
23.7
23.4
25.4
23.6
28.3
Operating income
-52.8
-41.5
-34
-25.1
-39.6
-45
Interest expense
0
0
0
Other non-operating income
0.08
0.56
0.04
0.76
0.19
0.02
Pre-tax income
-47.5
-35.8
-37.4
-26.3
-38.1
-45.9
Income tax
0
0
1.98
-0.08
0
Net income
-48.3
-36.7
-41
-27
-39.3
-48.1
EBITDA
-52.2
-41
-32.8
-22.6
-38.3
-43.8
EPS, basic
-4.37
-2.69
-3.01
-2.02
-2.56
-2.59
EPS, diluted
-4.37
-2.69
-3.01
-2.02
-2.56
-2.59
Shares, basic (weighted)
11
13.6
13.6
13.4
15.3
18.5
Shares, diluted (weighted)
11
13.6
13.6
13.4
15.3
18.5
Balance sheet
FY2020
FY2022
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
38.7
47.1
17.1
13.5
5.63
Short-term investments
9.87
1.46
12
Receivables
9.8
13
9.55
15.3
4.09
Inventory
1.91
6.14
15.9
5.25
1.6
Other current assets
1.69
2.98
2.56
2.89
2.14
Total current assets
62
73.4
59.3
39.6
13.5
Property, plant and equipment
12.7
11.8
9.24
7.87
6.97
Lease right-of-use assets
9.11
1.4
2.39
3.49
2.55
Intangible assets
13.2
12.2
1.06
1.84
0.24
0.22
Long-term investments
40.1
4.4
1.69
1.91
1.72
Other non-current assets
2.18
1.06
0.77
0.59
0.74
Total assets
138
96.2
75.3
53.7
25.7
Accounts payable
2.22
3.29
4.44
2.72
1.07
Short-term debt
18.4
19.2
Total current liabilities
13.2
17
16.7
36.5
49.7
Long-term debt
18.9
Lease liabilities
1.11
0.48
1.62
2.54
1.44
Other non-current liabilities
14.3
12.3
15.5
15.4
13.3
Total liabilities
30.3
29.3
51.1
51.8
62.9
Total debt
18.9
18.4
19.2
Paid-in capital
696
692
696
713
722
Retained earnings
-606
-637
-661
-700
-748
Treasury stock
-8.03
-9.33
-9.6
-9.6
-9.6
Other comprehensive income
1.95
-0.7
-1.2
-1.77
-1.79
Shareholders' equity
81.5
84.5
44.6
24.2
1.85
-37.3
Total equity
81.5
84.5
44.6
24.2
1.85
-37.3
Total liabilities and equity
138
96.2
75.3
53.7
25.7
Shares outstanding
14
13.5
13.4
15.5
20.6
Cash flow statement
FY2020
FY2022
FY2022
FY2023
FY2024
FY2025
Net income
-47.5
-35.8
-40.3
-26.3
-39.3
-48.1
Depreciation and amortization
0.6
0.5
1.2
2.5
1.3
1.2
Stock-based compensation
7.82
7.77
7.01
7.22
1.31
2.99
Change in receivables
-3.35
-5.16
-3.17
3.42
-5.79
11.3
Change in inventory
3.19
-0.55
-4.23
-9.74
5.83
2.51
Cash from operations
-25.9
-26.8
-21.1
-20
-29.2
-20.8
Capital expenditures
-1.5
-8.95
-5.61
-0.2
-0.22
-0.02
Cash from investing
-20.7
-20.7
31.2
-9.67
11.2
0.95
Stock issued
3.87
0.11
2.11
0.06
Share buybacks
-3.27
-0.28
Cash from financing
47.2
29.6
-3.27
-0.91
15.4
11.3
Net change in cash
3.44
-18.4
8.41
-30
-3.62
-7.84
Free cash flow
-27.4
-35.8
-26.7
-20.2
-29.4
-20.8
Interest paid
0.04
0.06
0
Income taxes paid
1.81
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $0.10 on November 10, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
48.6%
Gross profit / revenue.
Operating margin
-217.3%
Operating income / revenue.
EBITDA margin
-211.5%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-221.5%
Pre-tax income / revenue.
Net margin
-232.0%
Net income / revenue.
FCF margin
-100.3%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-100.2%
Cash from operations / revenue.
Return on assets (ROA)
-121.2%
Net income / average total assets.
R&D / revenue
30.5%
Research and development expense / revenue.
Stock-based pay / revenue
14.4%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
0.1%
Capital expenditures / revenue.
D&A / revenue
5.8%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-27.4%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-21.7%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
6.5%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
-9.6%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
-28.3%
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
12.3%
Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y
-2,114.0%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
-52.2%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-35.6%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Share count change, 1y
20.8%
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
10.7%
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
10.9%
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
0.27x
Current assets / current liabilities.
Quick ratio
0.20x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.11x
(Cash + short-term investments) / current liabilities.
Debt / assets
74.8%
Total debt / total assets.
Liabilities / assets
245.3%
Total liabilities / total assets.
Net debt
$13.6M
Total debt - cash - short-term investments. Negative means more cash than debt.
Days inventory + days sales outstanding - days payables.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$2.59
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
-$2.59
Net income per basic share, as reported (split-adjusted).
Revenue per share
$1.12
Revenue / diluted weighted shares.
FCF per share
-$1.12
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$1.12
Cash from operations / diluted weighted shares.
Book value per share
-$1.81
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
0.10x
Market cap / revenue.
EV/Sales
0.75x
Enterprise value / revenue.
FCF yield
-1,010.0%
Free cash flow / market cap.
Earnings yield
-2,338.0%
Net income / market cap (the inverse of P/E).
What was CASI Pharmaceuticals, Inc.'s revenue in fiscal 2025?
CASI Pharmaceuticals, Inc. reported revenue of $20.7M for fiscal 2025, 27.4% lower than the year before.
Was CASI Pharmaceuticals, Inc. profitable in fiscal 2025?
No. It reported a net loss of $48.1M.
How much free cash flow did CASI Pharmaceuticals, Inc. generate in fiscal 2025?
Cash from operations of $20.8M minus capital expenditures of $16.0K left free cash flow of -$20.8M.
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.