This page shows Arbutus Biopharm (ABUS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
2025's smaller loss came from spending compression rather than revenue scale, leaving operations funded by cash management.
FY2025's operating loss narrowed to-$38.2M from-$76.3M in FY2024, pointing to a major reset in spending. That was not a revenue-led turnaround: revenue was still just$14.1M , and the match between operating cash flow and free cash flow at-$39.6M shows the cash drain sits in the research engine rather than capital spending.
The balance sheet is clean, with no long-term debt and a current ratio of 15.7x, so near-term obligations do not appear to be the binding constraint. Cash of
Funding has come from financing rather than revenue: shares outstanding rose from 169.9M in FY2023 to 192.5M in FY2025. With long-term debt still at
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Arbutus Biopharm's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Arbutus Biopharm scores 10.17, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($921.5M) relative to total liabilities ($18.0M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Arbutus Biopharm passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Arbutus Biopharm generates $1.18 in operating cash flow (-$39.6M OCF vs -$33.5M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Arbutus Biopharm earns $-393.4 in operating income for every $1 of interest expense (-$38.2M vs $97K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Arbutus Biopharm generated $14.1M in revenue in fiscal year 2025. This represents an increase of 128.2% from the prior year.
Arbutus Biopharm's EBITDA was -$37.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 49.6% from the prior year.
Arbutus Biopharm reported -$33.5M in net income in fiscal year 2025. This represents an increase of 52.1% from the prior year.
Arbutus Biopharm earned $-0.17 per diluted share (EPS) in fiscal year 2025. This represents an increase of 55.3% from the prior year.
Cash & Balance Sheet
Arbutus Biopharm generated -$39.6M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 39.1% from the prior year.
Arbutus Biopharm held $18.0M in cash against $0 in long-term debt as of fiscal year 2025.
Arbutus Biopharm had 193M shares outstanding in fiscal year 2025. This represents an increase of 1.4% from the prior year.
Margins & Returns
Arbutus Biopharm's operating margin was -271.0% in fiscal year 2025, reflecting core business profitability. This is up 965.8 percentage points from the prior year.
Arbutus Biopharm's net profit margin was -237.9% in fiscal year 2025, showing the share of revenue converted to profit. This is up 895.2 percentage points from the prior year.
Arbutus Biopharm's ROE was -43.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 28.1 percentage points from the prior year.
Capital Allocation
Arbutus Biopharm invested $25.2M in research and development in fiscal year 2025. This represents a decrease of 53.3% from the prior year.
Arbutus Biopharm invested $0 in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 100.0% from the prior year.
ABUS Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $179.1M+16943.4% | $1.1M+98.7% | $529K-95.1% | $10.7M+508.8% | $1.8M+12.1% | $1.6M+17.6% | $1.3M-22.4% | $1.7M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | $4.1M-17.7% | $5.0M-13.4% | $5.8M+5.1% | $5.5M-38.6% | $9.0M+1.7% | $8.8M-38.3% | $14.3M-8.2% | $15.6M |
| SG&A Expenses | $5.9M+59.6% | $3.7M+21.2% | $3.0M-8.5% | $3.3M-42.9% | $5.8M+23.8% | $4.7M+3.9% | $4.5M-39.9% | $7.5M |
| Operating Income | $168.9M+3293.0% | -$5.3M+38.9% | -$8.7M-681.9% | $1.5M+105.8% | -$25.7M-84.4% | -$13.9M+35.0% | -$21.4M+0.7% | -$21.6M |
| Interest Expense | $17K-5.6% | $18K-21.7% | $23K-17.9% | $28K0.0% | $28K-6.7% | $30K+3.4% | $29K-14.7% | $34K |
| Income Tax | $0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | $169.7M+4618.0% | -$3.8M+51.5% | -$7.7M-406.9% | $2.5M+110.3% | -$24.5M-95.7% | -$12.5M+36.4% | -$19.7M+0.4% | -$19.8M |
| EPS (Diluted) | $0.87 | N/A | $-0.04-500.0% | $0.01+107.7% | $-0.13 | N/A | $-0.10+9.1% | $-0.11 |
ABUS Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $277.2M+192.9% | $94.6M-3.2% | $97.7M-5.4% | $103.3M-11.7% | $117.0M-11.2% | $131.7M-6.2% | $140.4M-12.2% | $160.0M |
| Current Assets | $277.0M+193.3% | $94.5M-3.1% | $97.4M-5.5% | $103.1M-11.7% | $116.8M-8.3% | $127.3M-4.1% | $132.8M-10.4% | $148.2M |
| Cash & Equivalents | $23.7M+31.6% | $18.0M-19.6% | $22.4M-40.1% | $37.4M+0.9% | $37.1M+2.1% | $36.3M+14.1% | $31.8M-49.3% | $62.8M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $1.3M-9.3% | $1.4M+59.9% | $905K-11.7% | $1.0M-13.3% | $1.2M-50.9% | $2.4M+49.8% | $1.6M-9.0% | $1.8M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $17.0M-5.8% | $18.0M-11.2% | $20.3M+0.1% | $20.3M-46.4% | $37.9M+10.2% | $34.3M+2.4% | $33.6M-10.7% | $37.6M |
| Current Liabilities | $5.1M-15.0% | $6.0M+15.9% | $5.2M+3.2% | $5.0M-74.2% | $19.4M+24.4% | $15.6M-17.5% | $18.9M-16.3% | $22.6M |
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Equity | $260.2M+239.8% | $76.6M-1.1% | $77.4M-6.7% | $83.0M+4.8% | $79.2M-18.7% | $97.4M-8.9% | $106.9M-12.7% | $122.5M |
| Retained Earnings | -$1.2B+12.3% | -$1.4B-0.3% | -$1.4B-0.6% | -$1.4B+0.2% | -$1.4B-1.8% | -$1.3B-0.9% | -$1.3B-1.5% | -$1.3B |
ABUS Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$8.1M-73.3% | -$4.7M+19.5% | -$5.8M+63.1% | -$15.7M-17.6% | -$13.4M-29.8% | -$10.3M+50.3% | -$20.7M-43.0% | -$14.5M |
| Capital Expenditures | N/A | $0 | $0 | $0 | $0-100.0% | $86K | $0-100.0% | $1K |
| Free Cash Flow | N/A | -$4.7M+19.5% | -$5.8M+63.1% | -$15.7M-17.6% | -$13.4M-28.7% | -$10.4M+49.8% | -$20.7M-43.0% | -$14.5M |
| Investing Cash Flow | $2.2M+261.6% | -$1.4M+86.4% | -$10.0M-164.2% | $15.6M+37.6% | $11.3M-15.4% | $13.4M+211.9% | -$12.0M-221.9% | $9.8M |
| Financing Cash Flow | $11.6M+608.5% | $1.6M+94.3% | $844K+86.3% | $453K-83.7% | $2.8M+95.9% | $1.4M-19.9% | $1.8M-92.7% | $24.4M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
ABUS Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 94.3%+597.6pp | -503.3%+1133.5pp | -1636.9%-1650.7pp | 13.9%+1470.7pp | -1456.9%-571.7pp | -885.2%+716.0pp | -1601.2%-350.7pp | -1250.5% |
| Net Margin | 94.7%+452.1pp | -357.4%+1106.1pp | -1463.5%-1487.0pp | 23.5%+1413.9pp | -1390.4%-594.2pp | -796.2%+676.3pp | -1472.5%-325.6pp | -1146.9% |
| Return on Equity | 65.2%+70.1pp | -4.9%+5.1pp | -10.0%-13.0pp | 3.0%+34.0pp | -31.0%-18.1pp | -12.9%+5.6pp | -18.4%-2.3pp | -16.2% |
| Return on Assets | 61.2%+65.2pp | -4.0%+4.0pp | -7.9%-10.4pp | 2.4%+23.4pp | -21.0%-11.4pp | -9.5%+4.5pp | -14.0%-1.7pp | -12.4% |
| Current Ratio | 54.26+38.5 | 15.73-3.1 | 18.80-1.7 | 20.53+14.5 | 6.01-2.1 | 8.15+1.1 | 7.02+0.5 | 6.56 |
| Debt-to-Equity | 0.000.0 | 0.000.0 | 0.000.0 | 0.000.0 | 0.000.0 | 0.000.0 | 0.000.0 | 0.00 |
| FCF Margin | N/A | -445.3%+654.3pp | -1099.6%-953.0pp | -146.6%+612.5pp | -759.1%-98.3pp | -660.8%+887.8pp | -1548.6%-708.2pp | -840.4% |
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Frequently Asked Questions
What is Arbutus Biopharm's annual revenue?
Arbutus Biopharm (ABUS) reported $14.1M in total revenue for fiscal year 2025. This represents a 128.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Arbutus Biopharm's revenue growing?
Arbutus Biopharm (ABUS) revenue grew by 128.2% year-over-year, from $6.2M to $14.1M in fiscal year 2025.
Is Arbutus Biopharm profitable?
No, Arbutus Biopharm (ABUS) reported a net income of -$33.5M in fiscal year 2025, with a net profit margin of -237.9%.
What is Arbutus Biopharm's EBITDA?
Arbutus Biopharm (ABUS) had EBITDA of -$37.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Arbutus Biopharm have?
As of fiscal year 2025, Arbutus Biopharm (ABUS) had $18.0M in cash and equivalents against $0 in long-term debt.
What is Arbutus Biopharm's operating margin?
Arbutus Biopharm (ABUS) had an operating margin of -271.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Arbutus Biopharm's net profit margin?
Arbutus Biopharm (ABUS) had a net profit margin of -237.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Arbutus Biopharm's return on equity (ROE)?
Arbutus Biopharm (ABUS) has a return on equity of -43.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Arbutus Biopharm's free cash flow?
Arbutus Biopharm (ABUS) generated -$39.6M in free cash flow during fiscal year 2025. This represents a 39.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Arbutus Biopharm's operating cash flow?
Arbutus Biopharm (ABUS) generated -$39.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Arbutus Biopharm's total assets?
Arbutus Biopharm (ABUS) had $94.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Arbutus Biopharm's capital expenditures?
Arbutus Biopharm (ABUS) invested $0 in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Arbutus Biopharm spend on research and development?
Arbutus Biopharm (ABUS) invested $25.2M in research and development during fiscal year 2025.
What is Arbutus Biopharm's current ratio?
Arbutus Biopharm (ABUS) had a current ratio of 15.73 as of fiscal year 2025, which is generally considered healthy.
What is Arbutus Biopharm's debt-to-equity ratio?
Arbutus Biopharm (ABUS) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Arbutus Biopharm's return on assets (ROA)?
Arbutus Biopharm (ABUS) had a return on assets of -35.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Arbutus Biopharm's cash runway?
Based on fiscal year 2025 data, Arbutus Biopharm (ABUS) had $18.0M in cash against an annual operating cash burn of $39.6M. This gives an estimated cash runway of approximately 5 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Arbutus Biopharm's Altman Z-Score?
Arbutus Biopharm (ABUS) has an Altman Z-Score of 10.17, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Arbutus Biopharm's Piotroski F-Score?
Arbutus Biopharm (ABUS) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Arbutus Biopharm's earnings high quality?
Arbutus Biopharm (ABUS) has an earnings quality ratio of 1.18x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Arbutus Biopharm cover its interest payments?
Arbutus Biopharm (ABUS) has an interest coverage ratio of -393.4x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Arbutus Biopharm?
Arbutus Biopharm (ABUS) scores 56 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.