Income statement, balance sheet and cash flow statement for the last 4 fiscal years, taken from the XBRL data Calidi Biotherapeutics, 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
FY2022
FY2023
FY2024
FY2025
Revenue
0.05
Research and development
7.26
13
8.88
9.74
Selling, general and administrative
15.9
16
12.9
10.5
Operating expenses
23.2
29
21.8
20.2
Operating income
-23.1
-29
-21.8
-20.2
Interest expense
0.2
1.1
0.7
0.1
Other non-operating income
-2.29
-0.21
-0.42
0.19
Pre-tax income
-25.4
-29.2
-22.2
-20
Income tax
0.01
0.02
0.01
0.02
Net income to minority interests
-0.07
-0.16
Net income
-25.4
-29.2
-22.1
-19.9
EBITDA
-22.9
-28.6
-20.2
-18.6
EPS, basic
35.94
-208.31
-35.70
-5.95
EPS, diluted
35.94
-208.31
-35.70
-5.95
Shares, basic (weighted)
0.71
0.14
0
0
Shares, diluted (weighted)
0.71
0.14
0
0
Balance sheet
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
0.59
2.17
9.6
5.82
Receivables
0
Other current assets
0.41
2.35
0.64
0.66
Total current assets
0.79
4.3
10.2
6.26
Property, plant and equipment
1.27
1.27
0.87
0.78
Lease right-of-use assets
0.2
4.07
2.93
1.68
Other non-current assets
0.73
0.37
0.15
0.14
Total assets
2.6
10
14.2
8.86
Accounts payable
0.05
Accrued liabilities
3.22
Short-term debt
5.43
0.81
3.22
0.09
Total current liabilities
43
10.2
9.5
3.94
Lease liabilities
0.31
3.04
1.85
0.28
Other non-current liabilities
1.5
Total liabilities
43.4
18.3
12.2
5.1
Total debt
5.43
2.06
0.6
0.6
Paid-in capital
19.9
91.4
123
145
Retained earnings
-70.4
-99.6
-122
-142
Other comprehensive income
-0.01
-0.05
-0.03
-0.01
Shareholders' equity
-50.4
-8.24
1.53
3.76
Minority interests
0.43
Total equity
-50.4
-8.24
1.97
3.76
Total liabilities and equity
2.6
10
14.2
8.86
Shares outstanding
0.71
0.3
1.73
0.45
Cash flow statement
FY2022
FY2023
FY2024
FY2025
Net income
-25.4
-29.2
-22.2
-20.1
Depreciation and amortization
0.26
0.39
1.54
1.65
Stock-based compensation
4.52
4.81
2.96
2.11
Change in receivables
-0
Change in payables
1.62
-6.17
-0.63
-1.33
Cash from operations
-13.2
-27
-19.7
-21.3
Purchases of investments
-0.05
Cash from investing
-0.49
-0.48
-0.02
-0.17
Debt issued
0.6
Stock issued
0.11
0.28
Cash from financing
12.1
29
27.4
17.5
Exchange rate effect
-0.01
-0.01
0.01
Net change in cash
-0.97
1.58
7.64
-3.99
Interest paid
0.04
0.4
0.14
1.27
Income taxes paid
0.01
0.01
0.01
0.02
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 $1.07 on September 28, 2026.
Profitability
Metric
Value
How it is calculated
Return on equity (ROE)
-557.7%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-242.5%
Net income / average total assets.
Growth
Metric
Value
How it is calculated
Book value growth, 1y
145.0%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
-37.5%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
50.5%
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
545.0%
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
-81.7%
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
1.68x
Current assets / current liabilities.
Quick ratio
1.33x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
1.33x
(Cash + short-term investments) / current liabilities.
Debt / equity
0.19x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
8.3%
Total debt / total assets.
Liabilities / assets
56.5%
Total liabilities / total assets.
Net debt
-$3.7M
Total debt - cash - short-term investments. Negative means more cash than debt.
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
-$12.54
Cash from operations / diluted weighted shares.
Book value per share
$1.50
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/B
0.88x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
0.88x
Market cap / tangible book value, when positive.
Earnings yield
-631.9%
Net income / market cap (the inverse of P/E).
Was Calidi Biotherapeutics, Inc. profitable in fiscal 2025?
No. It reported a net loss of $19.9M.
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.