Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Kalaris 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
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
0.17
Research and development
16.2
49.7
121
119
133
45
30.8
General and administrative
10.6
21.6
49.1
52.3
48.3
6.69
15.4
Operating expenses
26.9
71.3
170
171
200
51.7
46.2
Operating income
-26.7
-71.3
-170
-171
-200
-51.7
-46.2
Interest expense
2.7
1.44
Interest income
2.07
1.33
1.32
1.88
5.73
5.49
Other non-operating income
0.8
0.2
-2.45
0.35
3.62
-17.4
2.71
Pre-tax income
-23.8
-69.8
-171
-169
-191
-69.2
-43.4
Income tax
1.01
-0.27
-0.13
0
0
Net income
-23.8
-69.8
-172
-169
-190
-69.2
-43.4
EBITDA
-26.7
-71.2
-170
-170
-200
-46.1
EPS, basic
-1,882.00
-262.91
-278.14
-223.32
-185.76
-51.77
-2.85
EPS, diluted
-1,882.00
-262.91
-278.14
-223.32
-185.76
-51.77
-2.85
Shares, basic (weighted)
0.01
0.26
0.62
0.76
1.03
1.34
15.3
Shares, diluted (weighted)
0.01
0.26
0.62
0.76
1.03
1.34
15.3
Balance sheet
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
61.1
123
202
106
90.1
1.64
98.1
Short-term investments
65
234
46.5
128
93.8
0
19.9
Other current assets
0.68
4.54
5.18
7.1
3.49
0.97
0.83
Total current assets
127
361
253
243
188
2.61
119
Property, plant and equipment
0.35
0.81
1.55
0.93
Lease right-of-use assets
11.8
8.69
29.7
31.6
2.19
0
1.48
Long-term investments
0
Other non-current assets
1.1
0.61
0.12
0.41
0.95
Total assets
139
371
287
277
191
6.16
122
Accounts payable
0.63
0.96
8.36
3
6.76
1.56
1.28
Accrued liabilities
5.16
7.53
20.2
14
10.1
4.99
Total current liabilities
9.11
12.3
37.9
24.3
28.4
24.7
9.71
Lease liabilities
8.69
5.46
23.5
28.2
16.6
0
1.13
Total liabilities
17.8
17.8
61.3
52.6
45
56.8
42.9
Paid-in capital
3.75
478
522
691
802
19.9
239
Retained earnings
-55.3
-125
-297
-466
-656
-117
-160
Other comprehensive income
0.07
-0.11
-0.16
-0.47
-0.06
0
0.01
Shareholders' equity
-51.5
353
225
225
-45
-96.6
78.8
Total equity
-51.5
353
225
225
-45
-96.6
78.8
Total liabilities and equity
139
371
287
277
191
6.16
122
Shares outstanding
0.02
0.61
0.63
0.92
1.12
1.36
22.9
Cash flow statement
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-23.8
-69.8
-172
-169
-190
-69.2
-43.4
Depreciation and amortization
0.02
0.07
0.19
0.72
0.4
0.01
Stock-based compensation
2.89
9.43
44
41.3
40.8
0.9
1.94
Deferred income tax
0
0
Change in payables
4.94
2.73
20.3
-12.6
-2.51
-1.03
-0.09
Cash from operations
-20.2
-60.8
-106
-142
-124
-20.7
-38.4
Capital expenditures
-0.34
-0.24
-0.03
-0.2
Purchases of investments
-119
-300
-76.6
-229
-126
-34.5
Sales and maturities of investments
55
131
263
148
164
95
15
Cash from investing
-64.6
-169
186
-80.5
38
95
-19.7
Stock issued
0.23
126
0
42
Cash from financing
121
292
0.23
127
70.5
19.1
155
Exchange rate effect
-0.09
-0.04
Net change in cash
36.1
61.6
79.9
-95.6
-16
-1.53
96.9
Free cash flow
-20.5
-61
-106
-38.6
Interest paid
0.13
Income taxes paid
0.61
0.22
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 $2.92 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Return on equity (ROE)
-76.7%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-44.5%
Net income / average total assets.
Return on invested capital (ROIC)
-260.2%
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 CAGR, 3y
-29.5%
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
-25.9%
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
1,876.0%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-24.0%
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
-20.0%
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
1,043.0%
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
172.4%
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
125.0%
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
11.0x
Current assets / current liabilities.
Quick ratio
10.7x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
10.7x
(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
-$1.72
Cash from operations / diluted weighted shares.
Book value per share
$2.42
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/B
1.21x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
1.21x
Market cap / tangible book value, when positive.
Earnings yield
-63.7%
Net income / market cap (the inverse of P/E).
Was Kalaris Therapeutics, Inc. profitable in fiscal 2025?
No. It reported a net loss of $43.4M.
How much free cash flow did Kalaris Therapeutics, Inc. generate in fiscal 2025?
Cash from operations of $38.4M minus capital expenditures of $200.0K left free cash flow of -$38.6M.
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.