Income statement, balance sheet and cash flow statement for the last 9 fiscal years, taken from the XBRL data Korro Bio, 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
FY2017
FY2019
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
28.9
37
14.1
0
0
2.27
6.39
Research and development
12
11.9
18.8
37.4
60.9
42.2
57.3
63.6
65.6
General and administrative
4.34
7.06
14.8
27.1
37.2
16.8
27.3
30.5
28.2
Operating expenses
16.3
18.9
49.6
64.5
98.1
59
84.5
94.2
128
Operating income
-16.3
-18.9
-20.7
-27.6
-84
-59
-84.5
-91.9
-122
Interest expense
0
0.76
0.96
Interest income
1.78
0.99
0.4
1.33
Other non-operating income
-0.27
0.98
3.39
8.47
5.23
Pre-tax income
-18.7
-26.5
-84.7
-58
-81.1
-83.4
-117
Income tax
0
0.04
0.02
0.01
0.03
0.14
0.64
Net income
-20.2
-19.2
-18.7
-26.5
-84.7
-58
-81.2
-83.6
-117
EBITDA
-15.8
-18.3
-19.9
-26.4
-81.3
-56.5
-80.9
-88.3
-118
EPS, basic
-28.79
-12.53
-2.29
-0.82
-2.47
-227.42
-53.08
-9.37
-12.48
EPS, diluted
-28.79
-12.53
-2.29
-0.82
-2.47
-227.42
-53.08
-9.37
-12.48
Shares, basic (weighted)
0.7
1.53
8.65
32.3
34.4
0.26
1.53
8.92
9.4
Shares, diluted (weighted)
0.7
1.53
8.65
32.3
34.4
0.26
1.53
8.92
9.4
Balance sheet
FY2017
FY2019
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
42.2
200
220
79.6
36.3
166
55.6
21.8
Short-term investments
17.2
51.1
18.9
0
70.5
53.3
Other current assets
0.16
0.2
0.1
0.19
0.26
3.02
3.74
6.25
Total current assets
42.9
221
225
135
57.1
173
132
82.4
Property, plant and equipment
1.51
1.76
7.29
5.52
9.87
15.7
27.7
8.16
Lease right-of-use assets
30.6
31.4
2.02
27.2
23.8
8.06
Long-term investments
11.7
0
0
37
10
Other non-current assets
0.1
0.1
0.23
2.71
2.8
2.47
Total assets
44.5
223
265
185
73.7
222
226
114
Accounts payable
1.86
1.22
5.51
2.75
2.61
7.28
3.99
1.65
Accrued liabilities
1.75
3.24
6.66
6.1
3.18
10.2
6.17
7.61
Deferred revenue
48.2
14.1
0
3.51
0
Short-term debt
0.83
10
Total current liabilities
3.77
52.8
26.6
11.4
8.7
19.5
15
11.9
Long-term debt
0.35
0.18
Lease liabilities
30.6
28.9
0.21
31.2
43.5
40.8
Other non-current liabilities
0.09
0
1.05
1.47
1.48
Total liabilities
4.12
55.9
72.2
54.5
8.91
51.8
65.8
62.1
Total debt
0.35
0.18
0.83
10
Paid-in capital
0.8
236
288
311
2.81
353
427
435
Retained earnings
-49.1
-68.9
-95.4
-180
-102
-183
-267
-384
Other comprehensive income
0.05
0.03
-0.06
-0.01
0
0.27
0.21
Total equity
-29.6
-48.3
167
192
-42.2
-99
170
160
51.4
Total liabilities and equity
44.5
223
265
185
73.7
222
226
114
Shares outstanding
2.08
30.8
34
34.6
0.27
8.02
9.38
9.42
Cash flow statement
FY2017
FY2019
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-20.2
-19.2
-18.7
-26.5
-84.7
-58
-81.2
-83.6
-117
Depreciation and amortization
0.53
0.65
0.81
1.15
2.78
2.51
3.63
3.57
4.28
Stock-based compensation
0.09
0.46
3.61
9.98
21.8
19.8
2.38
4.46
7.66
Deferred income tax
0
0
0
0
0
0
Change in receivables
0
-1.7
0.73
Change in payables
-0.23
0.87
-0.64
4.29
-2.29
1.76
3.1
-1.34
-2.31
Cash from operations
-14.6
-17
34.2
-45.2
-76.1
-53.6
-67.3
-60.1
-78.6
Capital expenditures
-1.86
-0.44
-1.06
-6.67
-2.91
-5.14
-7.84
-17.9
-0.52
Purchases of investments
-283
-26.3
-92.4
-54.2
0
-146
-26.2
Sales and maturities of investments
265
43.4
29.2
85.3
Cash from investing
-1.86
-0.44
-18.3
10.4
-66.1
11.1
11.2
-123
44
Debt issued
15
Stock issued
0.03
0.07
80.1
1.55
1.3
0
117
0
0.69
Cash from financing
28
41.7
142
56.7
1.36
0.02
188
69.4
0.69
Exchange rate effect
0
-0
0.06
Net change in cash
11.5
24.3
158
21.9
-141
-42.6
132
-114
-33.8
Free cash flow
-16.5
-17.5
33.2
-51.9
-79
-58.8
-75.1
-78
-79.1
Interest paid
0.7
0.91
Income taxes paid
0.09
0.01
0.03
0.14
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 $9.57 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Operating margin
-4,625.0%
Operating income / revenue.
EBITDA margin
-4,515.0%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-4,442.0%
Pre-tax income / revenue.
Net margin
-4,477.0%
Net income / revenue.
FCF margin
-2,866.0%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-2,853.0%
Cash from operations / revenue.
Return on assets (ROA)
-65.2%
Net income / average total assets.
R&D / revenue
2,155.0%
Research and development expense / revenue.
Stock-based pay / revenue
391.7%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
13.3%
Capital expenditures / revenue.
D&A / revenue
110.4%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
181.5%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 5y
-29.6%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
-49.8%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
15.5%
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
-15.6%
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
5.3%
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
232.7%
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
-21.9%
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
9.55x
Current assets / current liabilities.
Quick ratio
9.11x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
9.11x
(Cash + short-term investments) / current liabilities.
Liabilities / assets
36.8%
Total liabilities / total assets.
Working capital
$108.0M
Current assets - current liabilities.
Efficiency
Metric
Value
How it is calculated
Asset turnover
0.01x
Revenue / average total assets.
Fixed asset turnover
0.32x
Revenue / average property, plant and equipment.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$6.05
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.
Market cap + total debt - cash - short-term investments.
P/S
59.2x
Market cap / revenue.
EV/Sales
10.9x
Enterprise value / revenue.
FCF yield
-48.4%
Free cash flow / market cap.
Earnings yield
-75.7%
Net income / market cap (the inverse of P/E).
What was Korro Bio, Inc.'s revenue in fiscal 2025?
Korro Bio, Inc. reported revenue of $6.4M for fiscal 2025, 181.5% higher than the year before.
Was Korro Bio, Inc. profitable in fiscal 2025?
No. It reported a net loss of $117.3M.
How much free cash flow did Korro Bio, Inc. generate in fiscal 2025?
Cash from operations of $78.6M minus capital expenditures of $518.0K left free cash flow of -$79.1M.
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.