Coherus Oncology, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Coherus Oncology, 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	190	1.56	0	356	476	327	211	257	26.4	42.2
Cost of revenue				17.1	37.7	57.6	70.1	159	8.73	13.8
Gross profit				339	438	269	141	98.3	17.7	28.4
Research and development	254	162	110	94.2	143	363	199	109	91.8	109
Selling, general and administrative	51.6	71.3	94.2	137	139	170	198	192	125	101
Selling and marketing	0	0	2.8	4.5	3.8	8.7	10.5	10.9	7.4	6.6
General and administrative	51.6	71.3
Operating expenses	306	234	204	248
Operating income	-116	-232	-204	108	156	-264	-257	-203	-200	-181
Interest expense	7.98	9.55	9.68	17.6	21.2	23	32.5	40.5	10.7	9
Interest income			1.4	1.6	0.6	1.4	1.9	2.8	4.5	7
Other non-operating income	-3.88	3.4	4.69	2.61	0.55	-0.28	3.82	5.47	7.62	7.01
Pre-tax income		-238	-209	92.8	136	-287	-292	-238	-215	-183
Income tax	0	0	0	2.94	3.46	0	0	-0.38	0	0
Net income to minority interests	-0.45	-0.12	-0.07	0
Net income	-127	-238	-209	89.8	132	-287	-292	-238	28.5	168
EBITDA	-113	-229	-201	111	159	-260	-253	-200	-198	-180
EPS, basic	-3.04	-4.48	-3.22	1.29	1.85	-3.81	-3.76	-2.53	0.25	1.43
EPS, diluted	-3.04	-4.48	-3.22	1.23	1.62	-3.81	-3.76	-2.53	0.25	1.43
Shares, basic (weighted)	41.9	53.1	65	69.7	71.4	75.4	77.6	94.2	115	117
Shares, diluted (weighted)	41.9	53.1	65	73.2	83.5	75.4	77.6	94.2	115	117

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	125	127	72.4	178	541	417	63.5	103	126	88.9
Short-term investments			0	0			128	14.9		83.2
Receivables	1.86		0	142	157	123	110	261	111	17.8
Inventory			1.66	9.81	44.2	37.6	38.8	62.6	4.21	3.17
Other current assets	2.99	0.14	0.08	4.96	5.61	10.8	22.9	11.1	10.2	6.23
Total current assets	161	145	84.4	343	767	602	381	476	342	207
Property, plant and equipment	10.8	12.8	6.66	5.84	10.1	7.81	8.75	5.12	2.58	1.35
Lease right-of-use assets			0	10.6	9.96	8.19	5.69	5.91	4.52	2.95
Goodwill	0.94	0.94	0.94	0.94	0.94	0.9	0.94	0.94
Intangible assets	2.62	2.62	2.62	2.62	2.62	3.56	5.93	71.7	24.8	20
Other non-current assets	1.88	0.01	0.01	0.36	12.5	10	8.67	9.69	6.49	4.05
Total assets	178	163	99.5	409	842	679	481	630	449	258
Accounts payable	19.7	15.5	15.3	26	15.2	16.2	11.5	35.2	28.5	9.92
Accrued liabilities	28	6.98	7.01	17.3	26.7	48.1	50.1	105	60.3	20.4
Deferred revenue	0.89
Total current liabilities	56.4	28.4	33.3	115	146	165	139	332	283	140
Lease liabilities			0	10.3	9.07	6.75	3.63	4.98	3.29	1.46
Other non-current liabilities	1.83	2.07	1.65	0	1.05	0.75	3.47	12.6	29.3	19.9
Total liabilities	159	132	138	304	561	582	618	823	581	197
Total debt			0	73.7
Paid-in capital	558	808	947	1,001	1,044	1,148	1,204	1,386	1,419	1,444
Retained earnings	-537	-775	-985	-895	-763	-1,050	-1,342	-1,580	-1,551	-1,383
Other comprehensive income	-0.63	-0.75	-0.28	-0.56	-0.27	-0.27	-0.25	-0.25	-0.28	-0.2
Shareholders' equity	20.5	30.5	-38.6	105	281	97.7	-137	-193	-132	61
Minority interests	-1.17	-1.29
Total equity	19.4	30.5	-38.6	105	281	97.7	-137	-193	-132	61
Total liabilities and equity	178	163	99.5	409	842	679	481	630	449	258
Shares outstanding	45.8	59.8	68.3	70.4	72.5	76.9	78.9	112	116	121

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-128	-238	-209	89.8	132	-287	-292	-238	28.5	168
Depreciation and amortization	3	3.4	3.24	3.26	2.89	3.5	3.6	3.2	1.6	1.3
Stock-based compensation	27.4	33.4	34.8	33.6	38.2	51.4	50.7	43.1	27.8	17
Deferred income tax		0	0	0				-0.38
Change in receivables	-0.3	1.86	0	-142	-15.2	34.1	13.1	-151	149	93.6
Change in inventory		0	-5.48	-48.6	-38.4	-6.25	-47.3	-46.7	-32	-17.1
Change in payables	-4.97	-3.81	-0.3
Cash from operations	-253	-200	-159	28.4	154	-37.4	-241	-175	-20.4	-139
Capital expenditures	-6.52	-4.57	-0.79	-1.82	-7.23	-1.29	-2.04	-0.29
Purchases of investments		-74.3	-42.9	-20.2	-274	-182	-127	-19.5		-104
Sales and maturities of investments		74.5	43.2	20.4	274	81.7		13.3	8.69	21.5
Cash from investing	-6.52	-4.42	-1.19	-12.7	-14.4	-138	-167	145	230	375
Debt issued							241
Debt repaid							-81.8		-260
Stock issued	3.31	0.48	2.08	5.56	17.4	40.9	0.69	0.69	1.46
Cash from financing	226	207	105	89.4	224	51.9	54.3	69.6	-187	-274
Exchange rate effect	-0.4	-0.12	0.47	-0.28
Net change in cash	-33.3	1.96	-54.6	105	364	-124	-354	39.4	22.9	-37.1
Free cash flow	-259	-205	-160	26.5	147	-38.7	-243	-175
Interest paid	6.94	8.2	8.2	15.3	17	18.7	34.9	37.9	25.4	9.92
Income taxes paid		0	0	1.73	3.95	1.22	0.04	-0.12	-0.11	0.04

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 $1.13 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	68.9%	Gross profit / revenue.
Operating margin	-311.6%	Operating income / revenue.
EBITDA margin	-307.0%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-316.4%	Pre-tax income / revenue.
Net margin	-259.4%	Net income / revenue.
Operating cash flow margin	-365.2%	Cash from operations / revenue.
Return on equity (ROE)	-217.2%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-69.1%	Net income / average total assets.
R&D / revenue	198.7%	Research and development expense / revenue.
SG&A / revenue	181.8%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	21.9%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	4.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	59.8%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-41.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	-38.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	60.6%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-41.4%	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	-42.2%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	489.4%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 5y	4.9%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	472.0%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 5y	-2.5%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value CAGR, 5y	-26.3%	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	-42.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-18.7%	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	-21.0%	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	2.3%	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	14.7%	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	7.0%	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	1.77x	Current assets / current liabilities.
Quick ratio	1.58x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.39x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	68.2%	Total liabilities / total assets.
Interest coverage	-17.5x	Operating income / interest expense.
Working capital	$58.3M	Current assets - current liabilities.
Goodwill and intangibles / assets	9.8%	(Goodwill + intangible assets) / total assets.
Tangible book value	$42.1M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.27x	Revenue / average total assets.
Fixed asset turnover	58.9x	Revenue / average property, plant and equipment.
Inventory turnover	2.79x	Cost of revenue / average inventory.
Days inventory	131 days	365 x average inventory / cost of revenue.
Receivables turnover	3.67x	Revenue / average receivables.
Days sales outstanding	99 days	365 x average receivables / revenue.
Days payables	304 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	-74 days	Days inventory + days sales outstanding - days payables.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.85	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	$0.33	Revenue / diluted weighted shares.
Operating cash flow per share	-$1.20	Cash from operations / diluted weighted shares.
Book value per share	$0.39	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$0.27	Tangible book value / shares outstanding.
Cash per share	$0.68	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$174.6M	Share price x shares outstanding.
Enterprise value	$69.3M	Market cap + total debt - cash - short-term investments.
P/S	3.43x	Market cap / revenue.
P/B	2.87x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	4.15x	Market cap / tangible book value, when positive.
EV/Sales	1.36x	Enterprise value / revenue.
Earnings yield	-75.7%	Net income / market cap (the inverse of P/E).

What was Coherus Oncology, Inc.'s revenue in fiscal 2025?

Coherus Oncology, Inc. reported revenue of $42.2M for fiscal 2025, 59.8% higher than the year before.

Was Coherus Oncology, Inc. profitable in fiscal 2025?

Yes. Net income was $168.0M, a net margin of 398.4%.

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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