Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Verastem, 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
26.7
17.5
88.5
2.05
2.6
10
30.9
Cost of revenue
0.17
Gross profit
26.6
Research and development
19.8
46.4
43.6
45.8
41.4
39.3
50.6
61.4
81.3
115
Selling, general and administrative
17.2
21.4
77.3
101
62.8
24.1
25
30.7
43.6
81.1
General and administrative
17.2
21.4
Operating expenses
37
67.8
122
Operating income
-37
-67.8
-94.8
-132
-49.4
-61.4
-72.9
-92.1
-115
-170
Interest expense
0.56
5.81
20.6
15.8
9.97
2.14
4.14
4.56
1.14
Interest income
0.56
0.56
2.6
4.38
0.52
0.18
1.22
6.21
4.15
4.07
Other non-operating income
25.6
-0.64
-1.31
0.05
-0.11
-0.12
-0.2
Pre-tax income
-72.4
-149
-67.5
-71.2
-73.8
-87.4
-130
-209
Income tax
0
0
0.19
0
0
0.19
Net income
-36.4
-67.8
-72.4
-149
-67.7
-71.2
-73.8
-87.4
-131
-209
EBITDA
-36.3
-67.2
-93.8
-132
-48.8
-61.2
-72.8
-92
-115
-170
EPS, basic
-11.83
-21.03
-13.39
-23.90
-5.26
-4.90
-4.57
-3.96
-3.66
-3.02
EPS, diluted
-11.83
-21.03
-16.37
-23.90
-5.26
-4.90
-4.57
-3.96
-3.66
-3.02
Shares, basic (weighted)
3.09
3.21
5.44
6.24
12.8
14.5
16.1
22.1
35.7
69.3
Shares, diluted (weighted)
3.09
3.21
5.8
6.24
0.01
14.5
16.1
22.1
35.7
69.3
Balance sheet
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
32.3
82.2
130
43.5
67.8
21.3
74.9
77.9
88.8
205
Short-term investments
4.5
120
32
73.4
79
13
59.2
Inventory
0.33
3.1
1.83
Other current assets
0.4
1.12
2.97
3.84
3.47
4.97
4.95
6.55
5.94
7.58
Total current assets
81.3
87.8
253
85
145
106
92.9
144
95
223
Property, plant and equipment
1.42
0.86
1.37
0.95
0.42
0.21
0.09
0.04
0.03
Lease right-of-use assets
3.08
2.73
2.3
1.79
1.17
1.41
0.49
Intangible assets
21.6
20
16.4
Long-term investments
6
Other non-current assets
0.76
1.14
0.79
0.81
0.03
0.17
0.06
4.59
4.9
6.11
Total assets
83.6
89.8
277
145
154
109
95.1
150
102
246
Accounts payable
4.1
9.19
10.3
9.66
1.88
2.3
4.9
7.18
4.03
12.4
Accrued liabilities
6.9
7.94
21.1
19.4
14.7
15.6
15
17.9
26
54
Deferred revenue
0.33
Total current liabilities
11
17.1
37.1
29.9
17.1
18.6
21.7
26.4
31
72.3
Long-term debt
14.8
Lease liabilities
3.49
2.93
2.26
1.47
0.53
0.54
Other non-current liabilities
0.34
0.15
1.12
0.87
Total liabilities
11.3
32.1
153
138
39.1
21.1
47.7
71.2
130
189
Total debt
14.8
25.2
35.1
24.5
40.1
40.7
Paid-in capital
308
361
500
532
708
751
785
882
927
1,217
Retained earnings
-235
-303
-376
-525
-593
-664
-738
-825
-956
-1,165
Other comprehensive income
0.03
-0
0.13
0.01
0.05
0.03
0.01
5.23
Shareholders' equity
72.3
57.7
124
7.17
115
87.6
47.4
57.4
-28.9
57.2
Total equity
72.3
57.7
124
7.17
115
87.6
47.4
57.4
-28.9
57.2
Total liabilities and equity
83.6
89.8
277
145
154
109
95.1
150
102
246
Shares outstanding
3.1
4.25
6.18
6.7
14.3
185
16.7
25.3
44.8
77.7
Cash flow statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-36.4
-67.8
-72.4
-149
-67.7
-71.2
-73.8
-87.4
-131
-209
Depreciation and amortization
0.67
0.56
1
0.43
0.53
0.21
0.12
0.06
0.03
0.03
Stock-based compensation
6.29
5.03
6.67
8.54
8.12
7.71
6.05
5.86
7.34
9.4
Deferred income tax
0
0
0
0
0
Change in receivables
-0.31
-2.22
2.29
-0.28
0.49
0.03
-8.81
Change in inventory
-0.33
-2.77
3.1
-1.83
Change in payables
0.15
5.05
1.05
-0.6
-7.98
0.62
2.6
2.28
-3.16
8.42
Cash from operations
-29.5
-57.3
-74.5
-139
-33.5
-53.5
-63.7
-86.5
-105
-138
Capital expenditures
-0.04
-1.51
-0.01
-0.03
-0.2
-0.03
Purchases of investments
-82.1
-7.96
-125
-94.1
-79.4
-86.4
-17.8
-96.4
Sales and maturities of investments
119
51.9
10.5
184
32.1
86.7
84
52
60
Cash from investing
36.9
44
-138
89.6
-47.4
0.09
66.2
-44.4
60
-9.62
Debt issued
14.8
Debt repaid
-12.2
-37.4
-0.3
-42.6
Stock issued
48.1
105
9.67
106
6.72
27.4
91.4
14.2
197
Cash from financing
-0.01
63.2
261
-2.44
69.6
6.89
51.8
134
54.8
263
Net change in cash
7.44
49.8
48.3
-51.3
-11.2
-46.5
54.3
3.29
9.98
116
Free cash flow
-29.5
-76
-139
-33.5
-53.7
-105
Interest paid
0.3
2.11
12.4
5.13
1.01
1.54
3.36
3.77
6.36
Income taxes paid
0.19
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 $7.74 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Operating margin
-182.6%
Operating income / revenue.
Net margin
-231.6%
Net income / revenue.
Operating cash flow margin
-185.3%
Cash from operations / revenue.
Return on equity (ROE)
-405.5%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-98.2%
Net income / average total assets.
R&D / revenue
160.2%
Research and development expense / revenue.
SG&A / revenue
108.7%
Selling, general and administrative expense / revenue.
Stock-based pay / revenue
11.1%
Stock-based compensation (from the cash flow statement) / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
209.1%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
128.4%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
-19.0%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value CAGR, 3y
6.5%
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
-13.1%
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
142.7%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
37.4%
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
9.8%
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
94.1%
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
62.5%
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
457.8%
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
2.25x
Current assets / current liabilities.
Quick ratio
1.75x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
1.75x
(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.
Revenue per share
$0.87
Revenue / diluted weighted shares.
Operating cash flow per share
-$1.62
Cash from operations / diluted weighted shares.
Book value per share
$0.55
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
8.01x
Market cap / revenue.
P/B
14.0x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
20.5x
Market cap / tangible book value, when positive.
EV/Sales
6.45x
Enterprise value / revenue.
Earnings yield
-28.9%
Net income / market cap (the inverse of P/E).
What was Verastem, Inc.'s revenue in fiscal 2025?
Verastem, Inc. reported revenue of $30.9M for fiscal 2025, 209.1% higher than the year before.
Was Verastem, Inc. profitable in fiscal 2025?
No. It reported a net loss of $209.5M.
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.