Income statement, balance sheet and cash flow statement for the last 3 fiscal years, taken from the XBRL data Kyverna 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
FY2024
FY2024
FY2025
Research and development
49.9
112
134
General and administrative
12.5
30.1
36.1
Operating expenses
62.4
143
170
Operating income
-62.4
-143
-170
Interest expense
0.19
0.14
0.49
Interest income
2.28
15.4
9.09
Other non-operating income
2.04
15.1
8.52
Income tax
0
0
0
Net income
-60.4
-127
-161
EBITDA
-60.7
-140
-168
EPS, basic
-89.61
-3.33
-3.64
EPS, diluted
-89.61
-3.33
-3.64
Shares, basic (weighted)
0.67
38.3
44.3
Shares, diluted (weighted)
0.67
38.3
44.3
Balance sheet
FY2024
FY2024
FY2025
Cash and equivalents
34.6
96.6
124
Short-term investments
22.9
189
155
Other current assets
3.12
4.62
3.7
Total current assets
60.7
291
283
Property, plant and equipment
2.33
3.35
1.55
Lease right-of-use assets
6.49
6.47
3.57
Other non-current assets
3.36
2.84
4.9
Total assets
75.2
305
294
Accounts payable
4.36
4.62
5.31
Total current liabilities
19.9
33.8
36.5
Long-term debt
24.7
Lease liabilities
5.24
4.16
0.32
Total liabilities
26
38.1
61.6
Total debt
24.7
Paid-in capital
4.64
530
657
Retained earnings
-136
-264
-425
Other comprehensive income
0
0.11
0.1
Shareholders' equity
-13.1
267
232
Total equity
-13.1
267
232
Total liabilities and equity
75.2
305
294
Shares outstanding
1.25
43.2
60.4
Cash flow statement
FY2024
FY2024
FY2025
Net income
-60.4
-127
-161
Depreciation and amortization
1.71
2.13
1.8
Stock-based compensation
2.22
8.36
10.1
Change in payables
4.08
0.74
0.54
Cash from operations
-52.4
-114
-154
Capital expenditures
-0.62
-2.21
-0.01
Purchases of investments
-54.8
-490
-365
Sales and maturities of investments
46.7
331
406
Cash from investing
-8.79
-161
40
Stock issued
0.65
0
16.9
Cash from financing
58.1
337
141
Net change in cash
-3.08
62
27.5
Free cash flow
-53
-116
-154
Interest paid
0.19
0.14
0.42
Income taxes paid
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 $6.81 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Return on equity (ROE)
-92.2%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-69.4%
Net income / average total assets.
Return on invested capital (ROIC)
-79.2%
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 growth, 1y
-12.9%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
-3.6%
Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y
15.5%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
9.06x
Current assets / current liabilities.
Quick ratio
8.75x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
8.75x
(Cash + short-term investments) / current liabilities.
Debt / equity
0.15x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
11.3%
Total debt / total assets.
Liabilities / assets
24.7%
Total liabilities / total assets.
Net debt
-$174.5M
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
-$2.61
Cash from operations / diluted weighted shares.
Book value per share
$2.69
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/B
2.54x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
2.54x
Market cap / tangible book value, when positive.
Earnings yield
-36.2%
Net income / market cap (the inverse of P/E).
Was Kyverna Therapeutics, Inc. profitable in fiscal 2025?
No. It reported a net loss of $161.3M.
How much free cash flow did Kyverna Therapeutics, Inc. generate in fiscal 2025?
Cash from operations of $153.7M minus capital expenditures of $5.0K left free cash flow of -$153.7M.
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.