Income statement, balance sheet and cash flow statement for the last 8 fiscal years, taken from the XBRL data Quince 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
FY2019
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Research and development
10.1
30.2
61.3
60.8
25.2
9.45
18.6
35.4
General and administrative
2.03
8.95
17.6
29.5
26
17.7
17.6
15
Operating expenses
12.1
39.2
78.9
90.3
52
34.6
57.3
58.1
Operating income
-12.1
-39.2
-78.9
-90.3
-52
-34.6
-57.3
-58.1
Interest expense
0.96
Interest income
0.81
2.19
2.04
0.62
1.07
3.48
2.93
1.24
Other non-operating income
0
0
-0.25
-1
-0.1
-0.68
0.49
Pre-tax income
-37
-76.8
-89.9
-51.9
-31.6
-56.7
-80.8
Income tax
0
0
0
0
-0.28
-0.2
0.09
3.21
Net income
-12.5
-37
-76.8
-89.9
-51.7
-31.4
-56.8
-84
EBITDA
-12.1
-39
-78.6
-90
-51.8
-34.3
-57.1
-57.9
EPS, basic
-3.71
-1.94
-2.63
-3.03
-1.54
-0.84
-1.31
-1.68
EPS, diluted
-3.71
-1.94
-2.63
-3.03
-1.54
-0.84
-1.31
-1.68
Shares, basic (weighted)
3.36
19
29.2
29.7
33.5
37.2
43.3
50.1
Shares, diluted (weighted)
3.36
19
29.2
29.7
33.5
37.2
43.3
50.1
Balance sheet
FY2019
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
24.9
51.2
66.8
29.5
40.6
20.8
6.21
5.81
Short-term investments
46.8
48.7
67
37.1
45.6
54.3
34.6
11.9
Receivables
0
Other current assets
0.07
0.69
0.69
0.37
0.28
0.08
0.08
0.05
Total current assets
72.6
106
138
112
93.7
77.4
44
22.9
Property, plant and equipment
0.28
0.71
0.43
0.26
0.39
0.23
0.32
0.6
Lease right-of-use assets
0.63
0.67
1.17
0.29
0.39
0.5
0.45
Goodwill
0
0
17.6
0
Intangible assets
0
5.9
63.7
60
67.8
Long-term investments
16.8
50.5
19.9
3.58
0
Other non-current assets
0.01
0.22
0.04
0.19
0
8.54
9.58
1.76
Total assets
72.9
124
189
133
104
168
114
93.5
Accounts payable
0.5
3.08
3.56
4.91
0.57
2.03
2.9
2.22
Accrued liabilities
0.96
5.82
13.4
9.31
2.5
3.44
4.38
10.6
Short-term debt
0
18
Total current liabilities
1.46
8.89
17
14.2
3.07
9.57
7.28
43.2
Lease liabilities
0.21
0.42
0
0.32
0.39
0.33
Other non-current liabilities
0
0.59
0.69
1.57
Total liabilities
1.46
8.89
17.2
14.6
3.32
82.8
84.3
129
Total debt
0
13.4
14.3
0
Paid-in capital
0.25
185
319
355
389
402
407
419
Retained earnings
-32.8
-69.8
-147
-237
-288
-320
-376
-460
Other comprehensive income
-0.05
0.06
0.31
-0.08
-0.29
3.05
-0.04
5.75
Shareholders' equity
-32.6
115
172
119
101
85.1
30.1
-35.7
Total equity
-32.6
115
172
119
101
85.1
30.1
-35.7
Total liabilities and equity
72.9
124
189
133
104
168
114
93.5
Shares outstanding
3.41
26.9
29.5
30.1
36.1
43
44
0.28
Cash flow statement
FY2019
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-12.5
-37
-76.8
-89.9
-51.7
-31.4
-56.8
-84
Depreciation and amortization
0.05
0.19
0.33
0.34
0.2
0.32
0.19
0.14
Stock-based compensation
0.16
2.06
14.5
29.9
16.6
5.22
4.75
5.11
Deferred income tax
0.28
-0.26
-0.05
-5.59
Change in payables
-0.02
2.58
0.48
1.36
-5.94
-0.29
0.93
-0.94
Cash from operations
-11.7
-33.3
-50.8
-62.9
-44
-18.3
-31.9
-41.4
Capital expenditures
-0.21
-0.06
-0.05
-0.18
-0.13
-0.16
-0.26
-0.35
Purchases of investments
-55.2
-135
-187
-38.8
-75
-114
-89.6
-34.4
Sales and maturities of investments
8.7
118
135
97.9
82.5
111
Cash from investing
-46.8
-17.7
-52.4
59
18
-5.76
21.9
23.2
Stock issued
0.02
0.1
1.28
0
0.61
0
0.23
0.22
Cash from financing
75.9
77.4
119
6.81
0.71
0.14
-4.78
17.9
Exchange rate effect
0
0
0.06
0.18
0.08
0.23
-0.11
Net change in cash
17.5
26.3
15.6
2.88
-25.1
-23.8
-14.5
-0.4
Free cash flow
-11.9
-33.3
-50.9
-63.1
-44.2
-18.5
-32.2
-41.8
Interest paid
0
0.23
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 $31.00 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Return on assets (ROA)
-74.6%
Net income / average total assets.
Growth
Metric
Value
How it is calculated
Book value growth, 1y
-218.5%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
-18.3%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-3.4%
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
-13.2%
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
15.8%
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
14.4%
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
11.4%
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
14.5x
Current assets / current liabilities.
Quick ratio
13.6x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
13.6x
(Cash + short-term investments) / current liabilities.
Debt / assets
0.0%
Total debt / total assets.
Liabilities / assets
12.5%
Total liabilities / total assets.
Net debt
-$116.0M
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.
FCF per share
-$7.66
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$7.65
Cash from operations / diluted weighted shares.
Book value per share
-$34.73
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
FCF yield
-149.1%
Free cash flow / market cap.
Earnings yield
-293.3%
Net income / market cap (the inverse of P/E).
Was Quince Therapeutics, Inc. profitable in fiscal 2025?
No. It reported a net loss of $84.0M.
How much free cash flow did Quince Therapeutics, Inc. generate in fiscal 2025?
Cash from operations of $41.4M minus capital expenditures of $352.0K left free cash flow of -$41.8M.
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.