Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Olema 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
FY2019
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Research and development
3.92
13.7
51.1
82.3
86.1
125
158
General and administrative
0.4
7.82
20.4
24.7
18.8
17.7
21
Operating expenses
4.32
21.5
71.5
107
105
142
179
Operating income
-4.32
-21.5
-71.5
-107
-105
-142
-179
Interest expense
0.65
Interest income
0.01
0.06
0.44
2.23
8.33
12.7
16.2
Other non-operating income
0.01
-0.59
0.4
2.2
8.31
12.8
16.2
Pre-tax income
-129
-162
Income tax
0
0
0
0
Net income
-4.32
-22.1
-71.1
-105
-96.7
-129
-162
EBITDA
-4.31
-21.5
-71.3
-107
-105
-142
-178
EPS, basic
-1.66
-3.42
-1.80
-2.62
-2.14
-2.20
-1.87
EPS, diluted
-1.66
-3.42
-1.80
-2.62
-2.14
-2.20
-1.87
Shares, basic (weighted)
2.59
7.02
39.5
40
45.2
58.7
87
Shares, diluted (weighted)
2.59
7.02
39.5
40
45.2
58.7
87
Balance sheet
FY2019
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
0.07
339
13.8
23.7
68.5
139
48.3
Short-term investments
273
181
193
295
457
Other current assets
3.59
3.44
4.48
4.71
4.39
10
Total current assets
342
291
209
267
438
515
Property, plant and equipment
0.08
1.47
1.48
0.97
0.75
0.27
Lease right-of-use assets
3.25
2.5
2.29
1.31
1.15
Other non-current assets
0.51
0.54
2.77
0.02
Total assets
343
296
216
277
451
533
Accounts payable
0.72
0.02
0.37
2.7
4.46
9.25
Accrued liabilities
0.3
0.17
0.11
1.15
Total current liabilities
4.59
9.02
16.5
21.6
41.8
51.8
Lease liabilities
2.36
1.55
1.43
0.26
0.07
Total liabilities
4.59
11.4
18.1
23.1
42
54.9
Paid-in capital
371
389
408
559
844
1,075
Retained earnings
-33.1
-104
-209
-306
-435
-598
Other comprehensive income
-0.15
-1.81
0.35
0.14
0.62
Shareholders' equity
-10.6
338
285
198
254
409
479
Total equity
-10.6
338
285
198
254
409
479
Total liabilities and equity
343
296
216
277
451
533
Shares outstanding
39.3
39.8
40.3
55
74.3
81.4
Cash flow statement
FY2019
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-4.32
-22.1
-71.1
-105
-96.7
-129
-162
Depreciation and amortization
0.01
0.01
0.16
0.36
0.38
0.39
0.49
Stock-based compensation
3.11
15.9
18.8
17.3
22.6
17.6
Change in payables
0.81
-0.22
-0.68
0.35
2.32
2.51
4.6
Cash from operations
-3.08
-19.9
-50.7
-82.1
-83.7
-104
-147
Capital expenditures
-0.06
-1.58
-0.36
-0.16
Purchases of investments
-487
-214
-256
-395
-501
Sales and maturities of investments
213
306
251
302
345
Cash from investing
-0.06
-275
91.5
-4.85
-93.5
-156
Stock issued
0.64
0.67
0.15
2.63
1.67
8.39
Cash from financing
358
1.39
0.48
133
269
211
Net change in cash
-3.08
338
-325
9.89
44.8
70.9
-91.2
Free cash flow
-19.9
-52.3
-82.4
-105
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 $8.75 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Return on equity (ROE)
-47.5%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-42.0%
Net income / average total assets.
Return on invested capital (ROIC)
-45.7%
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
17.0%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
34.3%
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
7.2%
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
18.3%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
35.2%
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
9.3%
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
48.1%
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
29.6%
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
65.4%
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
8.86x
Current assets / current liabilities.
Quick ratio
8.70x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
8.70x
(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
-$1.58
Cash from operations / diluted weighted shares.
Book value per share
$4.92
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/B
1.78x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
1.78x
Market cap / tangible book value, when positive.
Earnings yield
-26.7%
Net income / market cap (the inverse of P/E).
Was Olema Pharmaceuticals, Inc. profitable in fiscal 2025?
No. It reported a net loss of $162.5M.
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.