KIORA PHARMACEUTICALS INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data KIORA 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

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	0.67	0.41	1.65	2.69	0.01	0		0	16	0
Research and development	8.42	10.3	8.06	5.39	3.57	5.35	3.45	4.03	7.84	10.8
General and administrative	5.59	4.64	4.44	4.41	4.66	5.32	8.28	4.66	5.54	5.75
Operating expenses	14	15	12.5	9.8	6.88	14.2	12.3	12.6	11.5	12.8
Operating income			-10.8		-6.87	-14.2	-12.3	-12.6	4.51	-12.8
Interest expense	0	0	0	0	0	0.01	0.01	0.01	0.02	0.02
Interest income	0	0	0.12	0.11	0.02	0	0.06	0.17	1.25	0.89
Other non-operating income	0	-0	0.12	0.11	0.02	0.27	-1.39	0.16	1.15	0.71
Pre-tax income	-13.3	-14.6	-10.7	-7	-6.85	-14	-13.7	-12.4	5.66	-12.1
Income tax	0	-1.34	0.09	0.1	0.01	-0.19	-0.11	0.09	2.07	-1.28
Net income to minority interests	-0	-0
Net income	-13.3	-13.2	-10.8	-7.1	-6.86	-13.8	-13.6	-12.5	3.59	-10.8
EBITDA			-10.8		-6.84	-14.2	-12.3	-12.5	4.53	-12.8
EPS, basic	-6,973.00	-4,294.00	-1,385.00	-675.97	-536.53	-514.93	-167.23	-24.25	0.93	-2.60
EPS, diluted	-6,973.00	-4,294.00	-1,385.00	-675.97	-536.54	-514.93	-167.23	-24.25	0.87	-2.64
Shares, basic (weighted)	0	0	0.01	0.01	0.01	0.03	0.08	0.54	3.87	4.17
Shares, diluted (weighted)	0	0	0.01	0.01	0.01	0.03	0.08	0.54	4.13	4.1

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	3.64	7.81	8	3.78	1.19	7.85	5.96	2.45	3.79	8.7
Short-term investments								0	23	8.39
Receivables								0	0.6	1.52
Other current assets	0.46	0.63	0.46	0.46	0.45	0.61	0.34	0.23	2.04	1.14
Total current assets	4.15	8.46	8.48	4.32	1.73	8.99	7.68	4.74	29.7	21.7
Property, plant and equipment	0.04	0.06	0.04	0.02	0.03	0.07	0.06	0.01	0.01	0.09
Lease right-of-use assets			0		0.08	0.21	0.12	0.11	0.06	0.29
Goodwill		1.53	1.53	1.53	3.63	0	0
Intangible assets		3.91	4.16	4.13	9.73	10.8	10.7	8.81	6.69	2.06
Other non-current assets	0.06	0.31	0.03	0.07	0.06	0.04	0.03	0.04	0.02	0.06
Total assets	9.73	14.3	14.3	10.1	15.3	20.1	18.7	13.7	36.5	24.3
Accounts payable	1.41	0.71	0.06	0.21	0.43	0.16	1.01	0.21	0.42	1.06
Accrued liabilities	1.67	1.81	1.11	1.12	1.29	1.33	1.84	1.38	4.59	2.41
Deferred revenue	4.23	12.3	2.69
Total current liabilities	7.31	14.8	3.86	1.41	1.98	1.61	3.27	1.63	6.01	3.63
Long-term debt				0	0.28
Lease liabilities				0	0.04	0.09	0	0.06	0.03	0.2
Total liabilities	10.1	16.2	5.34	3.49	5.57	5.55	7.27	7.6	10.7	8.13
Total debt				0	0.28
Paid-in capital	78.1	89.6	102	107	117	136	146	153	169	170
Retained earnings	-78.6	-91.8	-93.2	-100	-107	-121	-134	-147	-143	-154
Other comprehensive income	0.12	0.13	0.13	0.14	-0	-0.09	-0.18	-0.18	-0.28	-0.25
Shareholders' equity	-0.33	-1.93	8.94	6.62	9.73	14.6	11.4	6.11	25.8	16.1
Total equity	-0.33	7.55	8.94	6.62	9.73	14.6	11.4	6.11	25.8	16.1
Total liabilities and equity	9.73	14.3	14.3	10.1	15.3	20.1	18.7	13.7	36.5	24.3
Shares outstanding	0	0	0.01	0.01	0.02	0.04	0.2	0.86	3	3.76

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-13.3	-13.2	-10.8	-7.1	-6.86	-13.8	-13.6	-12.5	3.59	-10.8
Depreciation and amortization	0.01	0.02	0.04	0.05	0.03	0.05	0.04	0.05	0.02	0.02
Stock-based compensation	0.51	0.87	0.88	0.85	0.72	0.84	0.46	0.75	0.66	0.9
Deferred income tax	0	1.34	-0.09	-0.1	-0.01	-0.19	-0.11	0.09	-0.29	-0.39
Change in receivables								0	-0.6	-0.92
Change in payables	0.71	-0.71	-0.64	0.15	0.14	-0.31	0.78	-0.81	0.23	1.12
Cash from operations	-8.41	-6.47	-10.8	-8.15	-7.32	-10.7	-10.4	-9.56	8.56	-9.96
Capital expenditures	0	-0.04	-0.02	0	-0.02	-0.06	0	0	-0.01	-0.11
Acquisitions					-0.11	-0.09	0
Purchases of investments								0	-35.6	-8.18
Sales and maturities of investments								0	11.6	22.4
Cash from investing	0.17	-0.04	-0.27	0	-0.24	-0.16	0.01	0	-22.7	14.4
Debt issued				0	0.28	0
Stock issued	3.77	10.6	10.1	1.88	5	17.7	5.38
Cash from financing	3.5	10.7	11.3	3.92	5	17.6	8.62	5.97	15.5	0.27
Exchange rate effect	0.01	0	0.01	0.01	-0.03	-0.08	-0.09	0.04	-0.06	0.17
Net change in cash	-4.73	4.17	0.2	-4.23	-2.59	6.67	-1.89	-3.55	1.34	4.9
Free cash flow	-8.41	-6.51	-10.9	-8.15	-7.34	-10.7	-10.4	-9.56	8.55	-10.1
Income taxes paid										2.42

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 $2.67 on September 28, 2026.

Profitability

Metric	Value	How it is calculated
Return on equity (ROE)	-65.2%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-46.2%	Net income / average total assets.
Return on invested capital (ROIC)	-103.6%	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
Revenue growth, 1y	-100.0%	Revenue vs the same period a year earlier. Only from a positive base.
Operating income growth, 1y	-384.5%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	-382.7%	EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y	-401.4%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	-403.4%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-216.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y	-217.8%	Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	-37.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	12.2%	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	10.6%	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	-33.5%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	9.1%	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	9.6%	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	-0.5%	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	269.7%	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	217.3%	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	8.97x	Current assets / current liabilities.
Quick ratio	7.56x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	7.10x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	29.1%	Total liabilities / total assets.
Working capital	$18.9M	Current assets - current liabilities.
Goodwill and intangibles / assets	8.7%	(Goodwill + intangible assets) / total assets.
Tangible book value	$14.8M	Shareholders' equity - goodwill - intangible assets.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$1.78	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.
FCF per share	-$1.39	Free cash flow / diluted weighted shares.
Operating cash flow per share	-$1.38	Cash from operations / diluted weighted shares.
Book value per share	$3.81	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$3.34	Tangible book value / shares outstanding.
Cash per share	$3.80	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$11.8M	Share price x shares outstanding.
Enterprise value	-$5.0M	Market cap + total debt - cash - short-term investments.
P/B	0.70x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.80x	Market cap / tangible book value, when positive.
FCF yield	-72.9%	Free cash flow / market cap.
Earnings yield	-93.0%	Net income / market cap (the inverse of P/E).

What was KIORA PHARMACEUTICALS INC's revenue in fiscal 2025?

KIORA PHARMACEUTICALS INC reported revenue of $0.0 for fiscal 2025, 100% lower than the year before.

Was KIORA PHARMACEUTICALS INC profitable in fiscal 2025?

No. It reported a net loss of $10.8M.

How much free cash flow did KIORA PHARMACEUTICALS INC generate in fiscal 2025?

Cash from operations of $10.0M minus capital expenditures of $110.8K left free cash flow of -$10.1M.

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.

Open interactive statements, quarterly figures and charts

Back to KIORA PHARMACEUTICALS INC