What is Arbutus Biopharm's earnings per share (EPS)?

Arbutus Biopharm (ABUS) reported diluted earnings per share of $-0.17 for fiscal year 2025. This represents a 55.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Arbutus Biopharm Financials

ABUS

Source SEC Filings (10-K/10-Q) Updated Mar 23, 2026 Currency USD FYE March

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).

Financial Health Signals

Financial Profile 50/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Arbutus Biopharm has an operating margin of -302.8%, meaning the company retains $-303 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -1236.7% the prior year.

Growth

100

Arbutus Biopharm's revenue surged 104.2% year-over-year to $12.6M, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

Arbutus Biopharm carries a low D/E ratio of 0.24, meaning only $0.24 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 97/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

100

With a current ratio of 15.73, Arbutus Biopharm holds $15.73 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Cash Flow

While Arbutus Biopharm generated -$39.6M in operating cash flow, capex of $182K consumed most of it, leaving -$39.8M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Arbutus Biopharm generates a -43.8% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -71.8% the prior year.

Piotroski F-Score Weak

3/9

Arbutus Biopharm passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Low Quality

1.18x

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.

Interest Coverage At Risk

-393.4x

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

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Earnings & Revenue

Revenue

$12.6M

YoY+104.2%

5Y CAGR+12.8%

10Y CAGR-6.0%

Arbutus Biopharm generated $12.6M in revenue in fiscal year 2025. This represents an increase of 104.2% from the prior year.

EBITDA

-$37.8M

YoY+49.6%

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.

Net Income

-$33.5M

YoY+52.1%

Arbutus Biopharm reported -$33.5M in net income in fiscal year 2025. This represents an increase of 52.1% from the prior year.

EPS (Diluted)

$-0.17

YoY+55.3%

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

Free Cash Flow

-$39.8M

YoY+38.8%

Arbutus Biopharm generated -$39.8M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 38.8% from the prior year.

Cash & Debt

$18.0M

YoY-50.4%

5Y CAGR-19.2%

10Y CAGR-20.0%

Arbutus Biopharm held $18.0M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

195M

YoY+2.9%

5Y CAGR+16.9%

10Y CAGR+13.6%

Arbutus Biopharm had 195M shares outstanding in fiscal year 2025. This represents an increase of 2.9% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

-302.8%

YoY+933.9pp

5Y CAGR+533.2pp

10Y CAGR+143.6pp

Arbutus Biopharm's operating margin was -302.8% in fiscal year 2025, reflecting core business profitability. This is up 933.9 percentage points from the prior year.

Net Margin

-265.9%

YoY+867.2pp

5Y CAGR+656.1pp

10Y CAGR+3.6pp

Arbutus Biopharm's net profit margin was -265.9% in fiscal year 2025, showing the share of revenue converted to profit. This is up 867.2 percentage points from the prior year.

Return on Equity

-43.8%

YoY+28.1pp

5Y CAGR+18.8pp

10Y CAGR-32.3pp

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

R&D Spending

$25.2M

YoY-53.3%

5Y CAGR-12.5%

10Y CAGR-6.9%

Arbutus Biopharm invested $25.2M in research and development in fiscal year 2025. This represents a decrease of 53.3% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$182K

YoY+0.0%

5Y CAGR-4.5%

10Y CAGR-22.4%

Arbutus Biopharm invested $182K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 0.0% from the prior year.

ABUS Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$12.6M+104.2%	$6.2M-66.0%	$18.1M-53.5%	$39.0M+255.1%	$11.0M+58.9%	$6.9M
Cost of Revenue	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
R&D Expenses	$25.2M-53.3%	$54.0M-26.7%	$73.7M-12.7%	$84.4M+28.9%	$65.5M+32.8%	$49.3M
SG&A Expenses	$15.9M-28.1%	$22.1M-1.6%	$22.5M+26.0%	$17.8M+4.1%	$17.1M+15.4%	$14.8M
Operating Income	-$38.2M+50.0%	-$76.3M+2.3%	-$78.1M-19.3%	-$65.5M+11.0%	-$73.5M-27.2%	-$57.8M
Interest Expense	$97K-29.2%	$137K-70.2%	$459K-73.4%	$1.7M-39.6%	$2.9M-28.8%	$4.0M
Income Tax	N/A	$0	$0-100.0%	$4.4M	$0	$0
Net Income	-$33.5M+52.1%	-$69.9M+4.0%	-$72.8M-4.9%	-$69.5M+8.9%	-$76.2M-19.6%	-$63.7M
EPS (Diluted)	$-0.17+55.3%	$-0.38+13.6%	$-0.44+4.3%	$-0.46+44.6%	$-0.83+17.0%	$-1.00

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$529K-95.1%	$10.7M+508.8%	$1.8M+12.1%	$1.6M+17.6%	$1.3M-22.4%	$1.7M+12.7%	$1.5M-28.6%	$2.1M
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	$5.8M+5.1%	$5.5M-38.6%	$9.0M+1.7%	$8.8M-38.3%	$14.3M-8.2%	$15.6M+1.0%	$15.4M-12.3%	$17.6M
SG&A Expenses	$3.0M-8.5%	$3.3M-42.9%	$5.8M+23.8%	$4.7M+3.9%	$4.5M-39.9%	$7.5M+42.1%	$5.3M+4.1%	$5.1M
Operating Income	-$8.7M-681.9%	$1.5M+105.8%	-$25.7M-84.4%	-$13.9M+35.0%	-$21.4M+0.7%	-$21.6M-11.5%	-$19.4M+6.7%	-$20.7M
Interest Expense	$23K-17.9%	$28K0.0%	$28K-6.7%	$30K+3.4%	$29K-14.7%	$34K-22.7%	$44K0.0%	$44K
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0
Net Income	-$7.7M-406.9%	$2.5M+110.3%	-$24.5M-95.7%	-$12.5M+36.4%	-$19.7M+0.4%	-$19.8M-10.7%	-$17.9M+7.4%	-$19.3M
EPS (Diluted)	$-0.04-500.0%	$0.01+107.7%	$-0.13	N/A	$-0.10+9.1%	$-0.11-10.0%	$-0.10	N/A

ABUS Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$94.6M-28.2%	$131.7M-8.8%	$144.4M-26.1%	$195.4M-4.4%	$204.5M+49.2%	$137.1M
Current Assets	$94.5M-25.8%	$127.3M-3.6%	$132.0M-12.6%	$151.1M-5.9%	$160.7M+25.8%	$127.7M
Cash & Equivalents	$18.0M-50.4%	$36.3M+38.2%	$26.3M-14.6%	$30.8M-71.8%	$109.3M+109.1%	$52.3M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$1.4M-39.9%	$2.4M+35.6%	$1.8M+31.4%	$1.4M+50.4%	$899K-31.5%	$1.3M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$18.0M-47.5%	$34.3M-10.5%	$38.4M-34.5%	$58.6M+67.1%	$35.0M-0.2%	$35.1M
Current Liabilities	$6.0M-61.5%	$15.6M-30.5%	$22.5M-31.6%	$32.9M+192.8%	$11.2M+17.6%	$9.5M
Long-Term Debt	N/A	$0	$0	$0	$0	N/A
Total Equity	$76.6M-21.4%	$97.4M-8.2%	$106.0M-22.5%	$136.9M-19.2%	$169.4M+66.2%	$102.0M
Retained Earnings	-$1.4B-2.5%	-$1.3B-5.5%	-$1.3B-6.1%	-$1.2B-6.1%	-$1.1B-8.5%	-$1.0B

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$97.7M-5.4%	$103.3M-11.7%	$117.0M-11.2%	$131.7M-6.2%	$140.4M-12.2%	$160.0M+6.5%	$150.3M+4.1%	$144.4M
Current Assets	$97.4M-5.5%	$103.1M-11.7%	$116.8M-8.3%	$127.3M-4.1%	$132.8M-10.4%	$148.2M+9.1%	$135.9M+2.9%	$132.0M
Cash & Equivalents	$22.4M-40.1%	$37.4M+0.9%	$37.1M+2.1%	$36.3M+14.1%	$31.8M-49.3%	$62.8M+45.7%	$43.1M+64.0%	$26.3M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$905K-11.7%	$1.0M-13.3%	$1.2M-50.9%	$2.4M+49.8%	$1.6M-9.0%	$1.8M-17.4%	$2.1M+20.4%	$1.8M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$20.3M+0.1%	$20.3M-46.4%	$37.9M+10.2%	$34.3M+2.4%	$33.6M-10.7%	$37.6M+5.4%	$35.7M-7.1%	$38.4M
Current Liabilities	$5.2M+3.2%	$5.0M-74.2%	$19.4M+24.4%	$15.6M-17.5%	$18.9M-16.3%	$22.6M+11.3%	$20.3M-9.7%	$22.5M
Long-Term Debt	$0	$0	$0	$0	$0	$0	$0	$0
Total Equity	$77.4M-6.7%	$83.0M+4.8%	$79.2M-18.7%	$97.4M-8.9%	$106.9M-12.7%	$122.5M+6.8%	$114.6M+8.1%	$106.0M
Retained Earnings	-$1.4B-0.6%	-$1.4B+0.2%	-$1.4B-1.8%	-$1.3B-0.9%	-$1.3B-1.5%	-$1.3B-1.5%	-$1.3B-1.4%	-$1.3B

ABUS Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$39.6M+38.9%	-$64.8M+24.5%	-$85.9M-143.1%	-$35.4M+47.6%	-$67.5M-31.3%	-$51.4M
Capital Expenditures	$182K0.0%	$182K-81.9%	$1.0M+96.9%	$512K-36.7%	$809K+253.3%	$229K
Free Cash Flow	-$39.8M+38.8%	-$65.0M+25.2%	-$86.9M-142.4%	-$35.9M+47.5%	-$68.3M-32.3%	-$51.7M
Investing Cash Flow	$15.6M-32.1%	$22.9M-54.8%	$50.8M+167.7%	-$74.9M-491.1%	-$12.7M+15.0%	-$14.9M
Financing Cash Flow	$5.7M-89.0%	$52.0M+69.7%	$30.6M-3.7%	$31.8M-76.8%	$137.2M+58.2%	$86.7M
Dividends Paid	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

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	-$5.8M+63.1%	-$15.7M-17.6%	-$13.4M-29.8%	-$10.3M+50.3%	-$20.7M-43.0%	-$14.5M+24.8%	-$19.3M-11.6%	-$17.3M
Capital Expenditures	$0	$0	$0-100.0%	$86K	$0-100.0%	$1K-98.9%	$95K	$0
Free Cash Flow	-$5.8M+63.1%	-$15.7M-17.6%	-$13.4M-28.7%	-$10.4M+49.8%	-$20.7M-43.0%	-$14.5M+25.2%	-$19.4M-12.1%	-$17.3M
Investing Cash Flow	-$10.0M-164.2%	$15.6M+37.6%	$11.3M-15.4%	$13.4M+211.9%	-$12.0M-221.9%	$9.8M-15.9%	$11.7M-47.4%	$22.2M
Financing Cash Flow	$844K+86.3%	$453K-83.7%	$2.8M+95.9%	$1.4M-19.9%	$1.8M-92.7%	$24.4M-0.2%	$24.4M+541.7%	$3.8M
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	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-302.8%+933.9pp	-1236.7%-806.2pp	-430.5%-262.8pp	-167.8%+501.4pp	-669.1%+167.0pp	-836.1%
Net Margin	-265.9%+867.2pp	-1133.0%-731.5pp	-401.6%-223.6pp	-178.0%+515.9pp	-693.9%+228.1pp	-922.0%
Return on Equity	-43.8%+28.1pp	-71.8%-3.1pp	-68.7%-18.0pp	-50.7%-5.7pp	-45.0%+17.5pp	-62.5%
Return on Assets	-35.4%+17.7pp	-53.1%-2.6pp	-50.4%-14.9pp	-35.5%+1.8pp	-37.3%+9.2pp	-46.5%
Current Ratio	15.73+7.6	8.15+2.3	5.87+1.3	4.60-9.7	14.32+0.9	13.38
Debt-to-Equity	0.24+0.2	0.000.0	0.000.0	0.000.0	0.00-0.3	0.34
FCF Margin	-316.0%+737.8pp	-1053.8%-574.6pp	-479.3%-387.4pp	-91.9%+530.0pp	-622.0%+125.4pp	-747.3%

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-1636.9%-1650.7pp	13.9%+1470.7pp	-1456.9%-571.7pp	-885.2%+716.0pp	-1601.2%-350.7pp	-1250.5%+13.4pp	-1263.9%-296.7pp	-967.2%
Net Margin	-1463.5%-1487.0pp	23.5%+1413.9pp	-1390.4%-594.2pp	-796.2%+676.3pp	-1472.5%-325.6pp	-1146.9%+19.8pp	-1166.8%-266.5pp	-900.3%
Return on Equity	-10.0%-13.0pp	3.0%+34.0pp	-31.0%-18.1pp	-12.9%+5.6pp	-18.4%-2.3pp	-16.2%-0.6pp	-15.6%+2.6pp	-18.2%
Return on Assets	-7.9%-10.4pp	2.4%+23.4pp	-21.0%-11.4pp	-9.5%+4.5pp	-14.0%-1.7pp	-12.4%-0.5pp	-11.9%+1.5pp	-13.4%
Current Ratio	18.80-1.7	20.53+14.5	6.01-2.1	8.15+1.1	7.02+0.5	6.56-0.1	6.69+0.8	5.87
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	-1099.6%-953.0pp	-146.6%+612.5pp	-759.1%-98.3pp	-660.8%+887.8pp	-1548.6%-708.2pp	-840.4%+425.3pp	-1265.7%-459.5pp	-806.2%

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Frequently Asked Questions

What is Arbutus Biopharm's annual revenue?

Arbutus Biopharm (ABUS) reported $12.6M in total revenue for fiscal year 2025. This represents a 104.2% 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 104.2% year-over-year, from $6.2M to $12.6M 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 -265.9%.

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.

What is Arbutus Biopharm's operating margin?

Arbutus Biopharm (ABUS) had an operating margin of -302.8% 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 -265.9% 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 -$39.8M in free cash flow during fiscal year 2025. This represents a 38.8% 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 $182K 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.

How many shares does Arbutus Biopharm have outstanding?

Arbutus Biopharm (ABUS) had 195M shares outstanding as of 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 0.24 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 Piotroski F-Score?

Arbutus Biopharm (ABUS) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. 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 7–9 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 50 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.