Theriva Biologics, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Theriva Biologics, 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
Research and development	29.1	18.8	11.8	11.1	5.13	7.8	11.7	14.3	12	8.6
General and administrative	10.1	7.47	5.73	4.58	5.03	6.47	9.86	7.12	7.4	15.4
Operating expenses	39.3	26.3	17.6	15.7	10.2	14.3	21.6	21.4	26.3	24.1
Operating income	-39.3	-26.3	-17.6	-15.7	-10.2	-14.3	-21.6	-21.4	-26.3	-24.1
Interest expense									0.01	0.06
Interest income	0.04	0.02	0.07	0.28	0.04	0.01	0.51	1.44	0.7	0.29
Other non-operating income	11.4	10.8	4.15	0.28	0.04	0.01	0.47	1.44	0.69	0.31
Pre-tax income						-14.3	-21.1	-20	-25.7	-23.7
Income tax	0	0	0	0	0	0	-1.43	-1.64	0
Net income to minority interests	-0.55	-0.32	-0.05	-0.08	-0.07	-0	0
Net income	-27.3	-15.2	-13.4	-15.3	-10	-14.3	-19.7	-18.3	-25.7	-25.2
EBITDA	-39.1	-26	-17.3	-15.4	-9.96	-14.2	-21.5	-21.3	-26.2	-23.9
EPS, basic	-2,536.00	-1,556.00	-1,014.00	-244.83	-164.89	-47.47	-32.73	-28.48	-19.03	-2.08
EPS, diluted	-2,536.00	-1,556.00	-1,014.00	-244.83	-164.88	-47.47	-32.73	-28.48	-19.03	-2.08
Shares, basic (weighted)	0.01	0.01	0.02	0.07	0.08	0.49	0.61	0.64	1.35	12.1
Shares, diluted (weighted)	0.01	0.01	0.02	0.07	0.08	0.49	0.61	0.64	1.35	12.1

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	19.1	17.1	28.9	15	6.23	67.3	41.8	23.2	11.6	13.1
Other current assets	0.19	0.83	0.59	1.38	1.71	1.53	3.73	2.41	1.44	1.06
Total current assets	21.6	17.9	29.5	16.4	7.93	68.9	45.5	27.4	16.3	17.5
Property, plant and equipment	0.91	0.87	0.61	0.37	0.17	0.1	0.35	0.42	0.27	0.22
Lease right-of-use assets			0	0.42	0.28	1.38	1.2	1.76	1.27	0.8
Goodwill						0	5.53	5.7	0
Intangible assets							19.2	19.8	17.4	19.6
Total assets	22.5	18.8	30.1	17.2	8.41	70.4	71.9	55.2	35.4	38.2
Accounts payable	1.99	2.02	1.03	2.32	0.89	0.52	0.92	0.77	0.86	1.01
Accrued liabilities	2.63	1.53	0.92	1.78	0.93	1.93	1.5	3	3.37	6.28
Deferred revenue								0.91
Short-term debt							0.06	0.06
Total current liabilities	19.8	9.79	3.38	5.28	2.97	3.55	7.06	6.74	7.59	10
Lease liabilities			0	0.47	0.19	1.4	1.19	1.44	0.87	0.35
Total liabilities	20.2	10.2	3.69	5.75	3.15	4.96	17.3	15.5	16.3	22.9
Total debt							0.22	0.16	0.09	1.67
Paid-in capital	176	193	231	233	241	337	344	347	356	374
Retained earnings	-172	-194	-219	-236	-248	-271	-291	-309	-335	-359
Treasury stock							-0.29	-0.29	-0.29	-0.29
Other comprehensive income							-0.68	0.03	-1.18	0.76
Shareholders' equity	3.85	-1.5	17.1	1.82	-4.77	65.4
Minority interests	-1.6	-1.91	-2.91	-2.88	-2.77
Total equity	2.26	-3.41	14.2	-1.06	-7.54	65.4	51.8	37	19.1	15.4
Total liabilities and equity	22.5	18.8	30.1	17.2	8.41	70.4	71.9	55.2	35.4	38.2
Shares outstanding	0.01	0.01	0.06	0.07	0.12	0.53	0.61	0.69	2.78	35.7

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-27.8	-15.5	-13.4	-15.4	-10.1	-14.3	-19.7	-18.3	-25.7	-23.7
Depreciation and amortization	0.16	0.25	0.27	0.24	0.2	0.09	0.09	0.14	0.14	0.11
Stock-based compensation	4.01	3.41	2.07	0.34	0.35	0.42	0.48	0.55	0.67	0.65
Deferred income tax							-1.43	-1.64
Change in payables	-2.42	0.03	-0.99	1.28	-1.43	-0.36	-0.39	-0.16	0.12	0.07
Cash from operations	-27.9	-20.2	-17.3	-13.9	-12.2	-12.9	-19.1	-19	-16.9	-16.7
Capital expenditures	-0.57	-0.21	-0.01	0	-0.01	-0.01	-0.12	-0.2	-0	-0.04
Cash from investing	-0.57	-0.21	-0.01	0	-0.01	-0.01	-4.4	-0.2	-0	-0.04
Debt issued										1.51
Debt repaid						0	-1.38	-0.08	-0.07
Stock issued	25	0	0	0	3.36	66	0	0	0	0
Share buybacks						0	-0.29	0
Cash from financing	26.7	18.5	29.1	0	3.36	74	-1.93	0.63	5.5	18.2
Exchange rate effect						0	-0.03	-0.03	-0.13	-0.09
Net change in cash			11.8	-13.9	-8.82	61.1	-25.4	-18.6	-11.6	1.4
Free cash flow	-28.5	-20.4	-17.3	-13.9	-12.2	-12.9	-19.2	-19.2	-16.9	-16.7
Interest paid	0
Income taxes paid	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 $0.22 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Return on assets (ROA)	-37.7%	Net income / average total assets.

Growth

Metric	Value	How it is calculated
Total assets growth, 1y	8.2%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-19.0%	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	35.4%	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	800.6%	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	170.5%	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	175.8%	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	1.13x	Current assets / current liabilities.
Quick ratio	0.94x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.94x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	65.0%	Total liabilities / total assets.
Working capital	$1.6M	Current assets - current liabilities.
Goodwill and intangibles / assets	54.7%	(Goodwill + intangible assets) / total assets.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.29	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	-$0.28	Cash from operations / diluted weighted shares.
Cash per share	$0.25	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$10.1M	Share price x shares outstanding.
Enterprise value	-$1.2M	Market cap + total debt - cash - short-term investments.
Earnings yield	-129.7%	Net income / market cap (the inverse of P/E).

Was Theriva Biologics, Inc. profitable in fiscal 2025?

No. It reported a net loss of $25.2M.

How much free cash flow did Theriva Biologics, Inc. generate in fiscal 2025?

Cash from operations of $16.7M minus capital expenditures of $35.0K left free cash flow of -$16.7M.

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.

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