PRECIGEN, INC. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data PRECIGEN, 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	191	231	151	90.7	32	14.3	26.9	6.23	3.93	9.68
Cost of revenue	37.7	33.3
Gross profit	153	198
Research and development	112	143	405					48.6	53.1	41.3
Selling, general and administrative	142	146	138					40.4	41.3	70.1
Operating expenses	316	369	666					106	139	120
Operating income	-125	-138	-506					-99.8	-135	-111
Interest expense	0.86	0.61	8.53					0.47	0.01	3.87
Other non-operating income	-47.9	22.5	-19					3.4	7	-140
Pre-tax income	-194	-78.4	-396	-171	-105	-111	-80	-96.4	-128	-251
Income tax	-3.88	2.07	-15.4	-0.93	-0.08	-0.16	-0.19	-0.46	-1.79	0
Income from continuing operations		-70.6	-375	-169	-104	-96.8	-79.8
Net income to minority interests	-3.66	-9.8	-5.37	-1.59	0	0
Net income	-187	-117	-509	-322	-171	-92.2	28.3	-95.9	-126	-251
EBITDA	-101	-107	-472					-93.1	-131	-107
EPS, basic	-1.58	-0.98	-3.93	-2.09	-1.02	-0.47	0.14	-0.39	-0.47	-1.37
EPS, diluted	-1.58	-0.98	-3.93	-2.09	-1.02	-0.47	0.14	-0.39	-0.47	-1.37
Shares, basic (weighted)	118	120	130	154	167	198	200	245	268	313
Shares, diluted (weighted)	118	120	130	154	167	198	200	245	268	313

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	62.6	68.1	96.9	65.8	51.8	36.4	4.86	7.58	29.5	30.2
Short-term investments	175	6.27	120	9.26	48.3	72.2	51.1	55.3	68.4	67.6
Receivables	21.6	19.8	21.2	20.7	16.5	1.34	0.98	0.9	0.93	3.92
Other current assets	7.36	7.06	5.33	5.83	7.19	5.47	5.07	4.33	3.34	3.43
Total current assets	315	154	285	235	149	157	118	68.8	102	115
Property, plant and equipment	64.7	113	86.9	44	34.9	8.6	7.33	7.11	13.8	13.8
Lease right-of-use assets			0	11.8	9.35	9.99	8.09	7.1	5.06	4.68
Goodwill	157	93.8	93.6	54.1	54.4	37.6	36.9	26.6	19.1	15.2
Intangible assets	226	233	89	68.3	65.4	52.3	44.5	40.7	4.46	3.18
Long-term investments					0	48.6	0		0	2.51
Other non-current assets	3.71	4.05	2.07	1.35	1.6	0.94	1.03	0.77	0.37	0.91
Total assets	949	847	716	456	315	360	216	151	145	156
Accounts payable	8.48	8.7	12	5.53	4.6	3.11	4.07	1.73	3.53	12
Accrued liabilities	6.54	6.47	9.96	13.2	8.1	7.86	6.38	8.25	8.42	10.2
Deferred revenue	53.4	42.9	11.1	5.7	2.8	1.49	0.03	0.51	0.59	0.52
Short-term debt	0.39	0.5	0.48	31.7	0.36	0.05	43.2	0
Total current liabilities	94.6	80.2	61.6	123	42.1	34.6	78.6	23	21.5	37.3
Long-term debt	7.56	7.54	211	186	172	180	0		0	93.2
Lease liabilities			0	10.1	7.74	8.75	6.99	5.9	4.55	3.98
Other non-current liabilities	3.87	3.45	3.14	0	0.1	0.05			0	0.13
Total liabilities	380	300	337	384	247	253	89.7	32.5	78.5	135
Total debt	7.95	8.04	212	218	172	180	43.2		0	93.2
Paid-in capital	1,326	1,397	1,722	1,752	1,887	2,023	1,998	2,085	2,129	2,362
Retained earnings	-729	-848	-1,331	-1,653	-1,823	-1,916	-1,869	-1,964	-2,091	-2,341
Other comprehensive income	-36.2	-15.6	-28.6	-27.5	4	0.2	-3.49	-1.95	0.01	0.01
Shareholders' equity	560	534	363	71.7	67.2	107	126	118	38.5	20.9
Minority interests	9.01	12.9	15.9	0
Total equity	569	547	379	71.7	67.2	107	126	118	38.5	20.9
Total liabilities and equity	949	847	716	456	315	360	216	151	145	156
Shares outstanding	119	122	160	163	188	207	208	249	293	354

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-190	-127	-515	-324	-171	-92.2	28.3	-95.9	-126	-251
Depreciation and amortization	24.6	31.1	33.1	24.9	17.5	13.8	10.8	6.67	4.53	3.2
Stock-based compensation	42.2	41.6	36.3	19	18.4	13.9	10.2	9.89	9.47	10.9
Deferred income tax	-3.47	-2.53	-21.3	-3.67	-0.16	-0.17	-0.15	-0.48	-1.8	0
Change in receivables	2.59	0.74	-2.7	-0.26	2.21	-6.23	-2.18	0.08	-0.02	-2.99
Change in inventory	3.81	0.66	-0.48	4.1	2.51	-1.9	2.34	0	0	-9.21
Change in payables	3.62	-3.4	4.68
Cash from operations	-49	-104	-124	-136	-77	-55.8	-65	-66.9	-68.2	-87.8
Capital expenditures	-31.6	-46.7	-41.6	-37.9	-7.53	-7.25	-4.92	-1.54	-8.58	-2
Acquisitions	0	2.05	-0.92	0	0
Purchases of investments	-75.2	0	-179	-55.1	-171	-174	0	-185	-187	-208
Sales and maturities of investments	102	175	66
Cash from investing	-28.4	104	-151	86.9	27.8	-74.5	226	-3.09	-20.7	-1.54
Debt issued	0.55	0.33	220	0.38	0	0		0	0	92.8
Debt repaid	-1.2	-0.52	-0.62	-0.62	-0.49	-0.47	-155	-43.2	0	0
Stock issued	0	0					0	72.8	31.2	-0.36
Cash from financing	12.1	4.28	310	8.14	32.7	121	-155	29.6	111	90
Exchange rate effect	-0.87	1.06	0.3	-0.81	0.35	0.22	-0.83	-0.32	-0.03	0.04
Net change in cash	-66.2	5.95	34.6	-41.7	-16.2	-8.91	5.25	-40.7	21.7	0.72
Free cash flow	-80.6	-150	-166	-174	-84.5	-63	-70	-68.5	-76.8	-89.8
Interest paid	0.96	0.62	3.87	3.75	7.2	7.16	8.54	1.17	0.01	3.51
Income taxes paid	0.01	0.57	0.22	0.05	0.05	0.04	0	0.02	0	0

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to September 30, 2026; growth uses fiscal years. Valuation uses the share price of $4.45 on November 10, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	21.4%	Operating income / revenue.
EBITDA margin	23.9%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	15.7%	Pre-tax income / revenue.
Net margin	15.6%	Net income / revenue.
FCF margin	-47.4%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	-46.6%	Cash from operations / revenue.
Effective tax rate	0.8%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	29.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	11.5%	Net income / average total assets.
Return on invested capital (ROIC)	20.5%	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%.
R&D / revenue	16.9%	Research and development expense / revenue.
SG&A / revenue	53.1%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	7.8%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.7%	Capital expenditures / revenue.
D&A / revenue	2.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	146.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-28.9%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	-21.3%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-45.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-45.1%	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	-20.8%	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	7.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-10.4%	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	-13.1%	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	16.9%	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	16.0%	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	13.4%	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	5.58x	Current assets / current liabilities.
Quick ratio	4.63x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.50x	(Cash + short-term investments) / current liabilities.
Debt / equity	1.12x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	44.4%	Total debt / total assets.
Liabilities / assets	60.5%	Total liabilities / total assets.
Net debt	$48.2M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	1.29x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	2.85x	Operating income / interest expense.
Working capital	$141.0M	Current assets - current liabilities.
Goodwill and intangibles / assets	8.2%	(Goodwill + intangible assets) / total assets.
Tangible book value	$66.3M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.74x	Revenue / average total assets.
Fixed asset turnover	11.8x	Revenue / average property, plant and equipment.
Receivables turnover	1.63x	Revenue / average receivables.
Days sales outstanding	224 days	365 x average receivables / revenue.
FCF conversion	-304.5%	Free cash flow / net income, when net income is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.06	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.
Revenue per share	$0.37	Revenue / diluted weighted shares.
FCF per share	-$0.18	Free cash flow / diluted weighted shares.
Operating cash flow per share	-$0.17	Cash from operations / diluted weighted shares.
Book value per share	$0.23	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$0.19	Tangible book value / shares outstanding.
Cash per share	$0.13	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$1.59B	Share price x shares outstanding.
Enterprise value	$1.64B	Market cap + total debt - cash - short-term investments.
P/E	65.2x	Market cap / net income. Only when net income is positive.
P/S	10.1x	Market cap / revenue.
P/B	19.0x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	24.0x	Market cap / tangible book value, when positive.
EV/Sales	10.4x	Enterprise value / revenue.
EV/EBIT	48.8x	Enterprise value / operating income, when both are positive.
EV/EBITDA	43.8x	Enterprise value / EBITDA, when both are positive.
FCF yield	-4.7%	Free cash flow / market cap.
Earnings yield	1.5%	Net income / market cap (the inverse of P/E).

What was PRECIGEN, INC.'s revenue in fiscal 2025?

PRECIGEN, INC. reported revenue of $9.7M for fiscal 2025, 146.7% higher than the year before.

Was PRECIGEN, INC. profitable in fiscal 2025?

No. It reported a net loss of $250.6M.

How much free cash flow did PRECIGEN, INC. generate in fiscal 2025?

Cash from operations of $87.8M minus capital expenditures of $2.0M left free cash flow of -$89.8M.

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.

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