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Achieve Life Sciences (ACHV) Financials

ACHV NASDAQ
FY2025 annual
Net Income -$54.6M n/m YoY
EPS (Diluted) -$1.25 n/m YoY
Free Cash Flow -$49.5M YoY not available
Operating Cash Flow -$49.5M n/m YoY
Market Cap $674.3M as of Oct 26, 2026
Price / Sales n/m no revenue reported
Price / Earnings n/m net loss, so no earnings multiple, FY2025
Price / Book n/m negative shareholder equity, so no book multiple, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 26, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 11, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the ACHV SEC filings page.

This page shows Achieve Life Sciences, Inc. (ACHV) 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).

Rhea AI ACHV FY2025

With no reported revenue, operations consume cash while financing supports the balance sheet rather than internal sales.

Cash conversion is closely tracking the reported loss: operating cash flow was -$49.5M against a net loss of $54.6M in FY2025, so accounting losses largely became cash use. Free cash flow was -$49.5M against capital expenditures of just $3K, showing that the outflow came from operations rather than heavy reinvestment.

External financing, not operating receipts, funded the year: financing cash flow of $51.5M exceeded operating cash flow of -$49.5M in FY2025. That funding coincided with total assets rising 8.2% while long-term debt rose 13.7%, linking balance-sheet growth to additional obligations.

FY2023’s negative equity of -$1.4M became positive equity of $21.5M by FY2025, indicating a recapitalized balance sheet rather than profitable operations. Current ratio rose from 0.8x to 4.4x, while liabilities fell from 107.5% to 48.5% of assets, broadening the improvement beyond short-term liquidity.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Financial health score not available

Achieve Life Sciences, Inc. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial
1/7

Achieve Life Sciences, Inc. passes 1 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality No Cash Backing
N/A

Achieve Life Sciences, Inc. reported a net loss of $54.6M while operations used $49.5M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Key Financial Metrics

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Earnings & Revenue

Net Income
-$74.8M
YoYn/m
QoQn/m

Achieve Life Sciences, Inc. reported a net loss of $74.8M in Q2 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.

EPS (Diluted)
-$0.80

Achieve Life Sciences, Inc. earned -$0.80 per diluted share (EPS) in Q2 2026.

Revenue

Not reported for Q2 2026.

EBITDA

Not reported for Q2 2026.

Cash & Balance Sheet

Cash & Debt
$48.0M
YoY-7.5%
QoQ+70.8%
5Y CAGR+2.7%
10Y CAGR+16.3%

Achieve Life Sciences, Inc. held $48.0M in cash against $7.5M in long-term debt as of Q2 2026, with $197.7M of liabilities due within a year.

Shares Outstanding
103M

Achieve Life Sciences, Inc. had 103M shares outstanding in Q2 2026.

Free Cash Flow

Not reported for Q2 2026.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

None of these metrics is reported for Q2 2026.

Capital Allocation

None of these metrics is reported for Q2 2026.

ACHV Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

ACHV quarterly income statement
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
R&D ExpensesN/AN/AN/A$5.3M-30.1%$6.7M+31.2%$7.1M+153.6%N/A$7.6M+112.5%
SG&A ExpensesN/AN/AN/A$9.4M+93.0%$5.9M+76.5%$5.8M+82.1%N/A$4.9M+62.4%
Interest Expense$277K+45.0%$274K+48.1%N/A$192K-47.5%$191K-76.2%$185K-77.2%N/A$366K-53.1%
Net Income-$74.8Mn/m-$10.2Mn/mN/A-$14.4Mn/m-$12.7Mn/m-$12.8Mn/mN/A-$12.5Mn/m
EPS (Basic)-$0.80-$0.19-$0.26n/m-$0.28n/m-$0.37n/m-$0.37n/m-$0.36n/m-$0.36
EPS (Diluted)-$0.80-$0.19-$0.26n/m-$0.28n/m-$0.37n/m-$0.37n/m-$0.36n/m-$0.36
Diluted Shares (Avg)94M53MN/A51M+48.5%35M+1.1%35M+38.5%N/A34M

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Operating Income, EBITDA, Income Tax.

ACHV Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

ACHV quarterly balance sheet
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Total Assets$190.4M+223.1%$33.1M+21.0%$41.8M+8.2%$52.0M+8.6%$58.9M-9.0%$27.4M-60.9%$38.6M+99.4%$47.9M+96.9%
Current Assets$188.3M+230.9%$31.1M+24.2%$39.9M+9.4%$50.1M+9.9%$56.9M-9.0%$25.0M-63.1%$36.5M+114.7%$45.5M+107.9%
Cash & Equivalents$48.0M-7.5%$28.1M+115.7%$20.9M+64.1%$31.9M+234.6%$51.9M+251.5%$13.0M-80.4%$12.8M-18.0%$9.5M-52.1%
Short-Term Investments$139.3M+3855.3%$1.2M-88.4%$15.5M-28.4%$16.2M-51.5%$3.5M-92.4%$10.2Mn/m$21.6Mn/m$33.4Mn/m
Long-Term Investments$0n/m$0n/m$0n/m$0n/m$0n/m$0n/m$0n/m$0n/m
Goodwill$1.0M0.0%$1.0M0.0%$1.0M0.0%$1.0M0.0%$1.0M0.0%$1.0M0.0%$1.0M0.0%$1.0M0.0%
Total Liabilities$205.1M+1087.9%$22.4M+31.3%$20.3M+14.3%$18.4M+11.4%$17.3M-23.3%$17.1M-17.0%$17.7M-14.8%$16.5M-18.5%
Current Liabilities$197.7M+2205.6%$11.8M+66.0%$9.1M+35.9%$9.7M+44.9%$8.6M-37.4%$7.1M-65.3%$6.7M-67.9%$6.7M+64.5%
Non-Current Liabilities$7.5M-14.2%$10.6M+6.5%$11.2M+1.2%$8.7M-11.5%$8.7M-1.2%$9.9Mn/m$11.1M+184100.0%$9.8M-39.4%
Long-Term Debt$7.5M-13.9%$9.3M+7.7%$11.2M+13.7%$8.7M-11.7%$8.7M-1.7%$8.7M$9.8M$9.8M-39.3%
Total Equity-$14.7M-135.2%$10.7M+3.9%$21.5M+3.0%$33.6M+7.1%$41.7M-1.5%$10.3M-79.2%$20.9Mn/m$31.4M+677.1%
Retained Earnings-$345.2Mn/m-$270.4Mn/m-$260.2Mn/m-$245.6Mn/m-$231.1Mn/m-$218.4Mn/m-$205.6Mn/m-$193.2Mn/m

Not reported in any period shown, so not listed: Inventory, Accounts Receivable.

ACHV Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

ACHV quarterly cash flow statement
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Operating Cash Flow-$10.8Mn/m-$6.9Mn/m-$18.0Mn/m-$11.3Mn/m-$9.1Mn/m-$11.1Mn/m-$9.2Mn/m-$10.4Mn/m
Depreciation & Amortization$58K+5.5%$57K-8.1%$57K-1.7%$54K-5.3%$55K-3.5%$62K+8.8%$58K+1.8%$57K-1.7%
Stock-Based Compensation$7.0M+140.8%-$685K-130.7%N/A$2.3M+74.6%$2.9M+98.6%$2.2M+73.3%N/A$1.3M+14.1%
Investing Cash Flow-$137.8M-2155.9%$14.3M+25.7%$709K-93.9%-$12.7M-195.4%$6.7M$11.4M$11.7Mn/m$13.3M
Financing Cash Flow$168.5M$21K$6.3M+818.3%$4.0Mn/mN/AN/A$682Kn/m-$8.1Mn/m

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.

ACHV Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

ACHV quarterly financial ratios
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Return on EquityN/A-95.2%+29.6ppN/A-43.0%-3.1pp-30.5%-10.5pp-124.8%-111.7ppN/A-39.9%+136.2pp
Return on Assets-39.3%-17.7pp-30.7%+16.2ppN/A-27.8%-1.6pp-21.6%-8.5pp-46.9%-37.6ppN/A-26.1%+3.1pp
Current Ratio0.95-5.7x2.62-0.9x4.39-1.1x5.14-1.6x6.64+2.1x3.51+0.2x5.46+4.6x6.78+1.4x
Debt-to-EquityN/A0.870.0x0.520.0x0.26-0.1x0.210.0x0.840.470.31-3.7x
Liabilities-to-EquityN/A2.10+0.4x0.94+0.1x0.550.0x0.41-0.1x1.66+1.2x0.850.53-4.5x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Asset Turnover, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company Fiscal year Revenue Net income Net margin Market cap Health score
Achieve Life Sciences, Inc. ACHV FY2025 N/A -$54.6M N/A $674.3M —
Nuvectis Pharma, Inc. NVCT FY2025 N/A -$26.4M N/A $654.5M —
Milestone Pharmaceuticals Inc. MIST FY2025 N/A -$63.1M N/A $80.7M —
Alpha Cognition Inc. ACOG FY2025 $10.2M -$20.7M N/A $181.6M 41/100
Coherus Oncology, Inc. CHRS FY2025 $42.2M $168.0M N/A $156.0M 31/100
Eledon Pharmaceuticals, Inc. ELDN FY2025 N/A -$45.6M N/A $186.9M —

Frequently Asked Questions

Is Achieve Life Sciences, Inc. profitable?

No, Achieve Life Sciences, Inc. (ACHV) reported a net loss of $54.6M in fiscal year 2025.

What is Achieve Life Sciences, Inc.'s earnings per share (EPS)?

Achieve Life Sciences, Inc. (ACHV) reported diluted earnings per share of -$1.25 for fiscal year 2025. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. 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.

How much debt does Achieve Life Sciences, Inc. have?

As of fiscal year 2025, Achieve Life Sciences, Inc. (ACHV) had $20.9M in cash and equivalents against $11.2M in long-term debt.

Achieve Life Sciences, Inc. (ACHV) has a return on equity of -254.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Achieve Life Sciences, Inc. (ACHV) recorded an outflow of $49.5M in free cash flow during fiscal year 2025. 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.

Achieve Life Sciences, Inc. (ACHV) recorded an outflow of $49.5M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

Achieve Life Sciences, Inc. (ACHV) had $41.8M in total assets as of fiscal year 2025, including both current and long-term assets.

Achieve Life Sciences, Inc. (ACHV) invested $3K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Achieve Life Sciences, Inc. (ACHV) had 53M shares outstanding as of fiscal year 2025.

Achieve Life Sciences, Inc. (ACHV) had a current ratio of 4.39 as of fiscal year 2025, which is generally considered healthy.

Achieve Life Sciences, Inc. (ACHV) had a debt-to-equity ratio of 0.52 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.

Achieve Life Sciences, Inc. (ACHV) had a liabilities-to-equity ratio of 0.94 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.

Achieve Life Sciences, Inc. (ACHV) had a return on assets of -130.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Achieve Life Sciences, Inc. (ACHV) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $674.3M as of Oct 26, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Achieve Life Sciences, Inc. (ACHV) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $674.3M as of Oct 26, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

At the end of fiscal year 2025, Achieve Life Sciences, Inc. (ACHV) held $36.4M in cash, cash equivalents and investments, and reported an operating cash outflow of $49.5M over that year. Dividing the one by the other, the reported balance equals about 9 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.

Achieve Life Sciences, Inc. (ACHV) has a Piotroski F-Score of 1 out of 7 computable signals; 2 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.

Achieve Life Sciences, Inc. (ACHV) reported a net loss of $54.6M while operations used $49.5M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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.

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