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. This represents a -0.8% 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.

Achieve Life Sciences Inc Financials

ACHV

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Achieve Life Sciences Inc (ACHV) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 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 2026-04-30

ACHV’s operating model is an asset-light cash-burn cycle funded mainly by repeated equity raises rather than business-generated cash.

In FY2025, net loss of -$54.6M and operating cash outflow of -$49.5M were nearly the same, which means most of the loss was paid in cash rather than deferred by accounting items. The rebound in current ratio from 0.8x in FY2023 to 4.4x in FY2025 therefore reflects externally financed liquidity, not the business beginning to fund itself.

This is a low-capex company, but not a low-cash-use one: free cash flow was -$49.5M in FY2025 with capital expenditures of just $3K, so cash needs are tied to ongoing operating spend rather than asset build-out.

The balance sheet reset was financed largely through new shares: shares outstanding reached 53.2M by FY2025 as financing cash inflow hit $51.5M, indicating equity issuance has been the main bridge between annual burn and short-term solvency. That also helps explain why debt-to-equity stayed near 0.9x despite repeated losses.

Financial Health Signals

Financial Profile 28/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Achieve Life Sciences Inc'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.

Leverage

Achieve Life Sciences Inc carries a low D/E ratio of 0.94, meaning only $0.94 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 83/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

With a current ratio of 4.39, Achieve Life Sciences Inc holds $4.39 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 87/100.

Returns

Achieve Life Sciences Inc generates a -254.0% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -190.6% the prior year.

Piotroski F-Score Weak

1/9

Achieve Life Sciences Inc passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality Low Quality

0.91x

For every $1 of reported earnings, Achieve Life Sciences Inc generates $0.91 in operating cash flow (-$49.5M OCF vs -$54.6M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

N/A

Net Income

-$54.6M

YoY-37.2%

Achieve Life Sciences Inc reported -$54.6M in net income in fiscal year 2025. This represents a decrease of 37.2% from the prior year.

EPS (Diluted)

$-1.25

YoY-0.8%

Achieve Life Sciences Inc earned $-1.25 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 0.8% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$49.5M

Achieve Life Sciences Inc generated -$49.5M in free cash flow in fiscal year 2025, representing cash available after capex.

Cash & Debt

$20.9M

YoY+64.1%

5Y CAGR-10.2%

10Y CAGR+77.6%

Achieve Life Sciences Inc held $20.9M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

53M

YoY+53.5%

5Y CAGR+54.2%

Achieve Life Sciences Inc had 53M shares outstanding in fiscal year 2025. This represents an increase of 53.5% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-254.0%

YoY-63.4pp

5Y CAGR-214.4pp

10Y CAGR-209.0pp

Achieve Life Sciences Inc's ROE was -254.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 63.4 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$3K

5Y CAGR-29.3%

10Y CAGR-38.2%

Achieve Life Sciences Inc invested $3K in capex in fiscal year 2025, funding long-term assets and infrastructure.

ACHV Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	N/A	N/A	N/A	N/A	N/A	N/A
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	N/A	$22.8M+44.3%	$15.8M-47.4%	$30.1M+25.5%	$24.0M+248.2%	$6.9M
SG&A Expenses	N/A	$16.3M+42.1%	$11.4M+6.7%	$10.7M+17.5%	$9.1M+16.0%	$7.9M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$819K-62.4%	$2.2M-23.6%	$2.9M+59.5%	$1.8M	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$54.6M-37.2%	-$39.8M-33.6%	-$29.8M+29.6%	-$42.4M-27.7%	-$33.2M-125.1%	-$14.7M
EPS (Diluted)	$-1.25-0.8%	$-1.24+17.3%	$-1.50+62.5%	$-4.00+2.0%	$-4.08+24.7%	$-5.42

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
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	$3.0M	N/A	$5.3M-20.7%	$6.7M-5.5%	$7.1M	N/A	$7.6M+48.8%	$5.1M
SG&A Expenses	$7.1M	N/A	$9.4M+60.0%	$5.9M+1.0%	$5.8M	N/A	$4.9M+46.4%	$3.3M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$274K	N/A	$192K+0.5%	$191K+3.2%	$185K	N/A	$366K-54.5%	$804K
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$10.2M	N/A	-$14.4M-13.5%	-$12.7M+0.8%	-$12.8M	N/A	-$12.5M-47.9%	-$8.5M
EPS (Diluted)	$-0.19	N/A	$-0.28+24.3%	$-0.370.0%	$-0.37	N/A	$-0.36-44.0%	$-0.25

ACHV Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$41.8M+8.2%	$38.6M+99.4%	$19.4M-35.4%	$30.0M-36.9%	$47.5M+17.9%	$40.3M
Current Assets	$39.9M+9.4%	$36.5M+114.7%	$17.0M-37.9%	$27.3M-38.7%	$44.6M+20.6%	$37.0M
Cash & Equivalents	$20.9M+64.1%	$12.8M-18.0%	$15.5M-37.2%	$24.8M-42.4%	$43.0M+20.0%	$35.9M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$1.0M0.0%	$1.0M0.0%	$1.0M0.0%	$1.0M0.0%	$1.0M0.0%	$1.0M
Total Liabilities	$20.3M+14.3%	$17.7M-14.8%	$20.8M-3.9%	$21.7M+11.3%	$19.5M+546.5%	$3.0M
Current Liabilities	$9.1M+35.9%	$6.7M-67.9%	$20.8M-3.6%	$21.6M+374.7%	$4.5M+55.0%	$2.9M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$21.5M+3.0%	$20.9M+1543.3%	-$1.4M-117.4%	$8.3M-70.4%	$28.0M-24.8%	$37.3M
Retained Earnings	-$260.2M-26.6%	-$205.6M-24.0%	-$165.8M-21.9%	-$135.9M-45.3%	-$93.6M-54.9%	-$60.4M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$33.1M-20.8%	$41.8M-19.7%	$52.0M-11.7%	$58.9M+115.4%	$27.4M-29.2%	$38.6M-19.4%	$47.9M-26.0%	$64.8M
Current Assets	$31.1M-22.1%	$39.9M-20.3%	$50.1M-12.0%	$56.9M+127.6%	$25.0M-31.4%	$36.5M-19.9%	$45.5M-27.2%	$62.5M
Cash & Equivalents	$28.1M+34.2%	$20.9M-34.5%	$31.9M-38.4%	$51.9M+298.5%	$13.0M+2.1%	$12.8M+33.6%	$9.5M-35.3%	$14.8M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$1.0M0.0%	$1.0M0.0%	$1.0M0.0%	$1.0M0.0%	$1.0M0.0%	$1.0M0.0%	$1.0M0.0%	$1.0M
Total Liabilities	$22.4M+10.6%	$20.3M+10.0%	$18.4M+6.7%	$17.3M+1.1%	$17.1M-3.7%	$17.7M+7.2%	$16.5M-26.5%	$22.5M
Current Liabilities	$11.8M+30.3%	$9.1M-6.7%	$9.7M+13.5%	$8.6M+20.2%	$7.1M+6.7%	$6.7M-0.5%	$6.7M-51.0%	$13.7M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$10.7M-50.4%	$21.5M-36.0%	$33.6M-19.3%	$41.7M+305.4%	$10.3M-50.8%	$20.9M-33.4%	$31.4M-25.8%	$42.3M
Retained Earnings	-$270.4M-3.9%	-$260.2M-6.0%	-$245.6M-6.2%	-$231.1M-5.8%	-$218.4M-6.2%	-$205.6M-6.4%	-$193.2M-6.9%	-$180.7M

ACHV Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$49.5M-66.2%	-$29.8M-21.6%	-$24.5M+34.8%	-$37.6M-27.6%	-$29.4M-118.5%	-$13.5M
Capital Expenditures	$3K	N/A	$21K	N/A	N/A	$17K
Free Cash Flow	-$49.5M	N/A	-$24.5M	N/A	N/A	-$13.5M
Investing Cash Flow	$6.1M+128.3%	-$21.6M-102661.9%	-$21K	N/A	N/A	-$17K
Financing Cash Flow	$51.5M+6.2%	$48.5M+217.6%	$15.3M-20.9%	$19.3M-47.2%	$36.6M+12.0%	$32.7M
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	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$6.9M+61.4%	-$18.0M-58.7%	-$11.3M-24.9%	-$9.1M+18.2%	-$11.1M-20.7%	-$9.2M+11.4%	-$10.4M-110.8%	-$4.9M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$14.3M+1913.5%	$709K+105.6%	-$12.7M-288.8%	$6.7M-41.0%	$11.4M-3.1%	$11.7M-11.7%	$13.3M	N/A
Financing Cash Flow	$21K-99.7%	$6.3M+54.9%	$4.0M	N/A	N/A	$682K+108.4%	-$8.1M-5202.0%	-$153K
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

ACHV 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	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	-254.0%-63.4pp	-190.6%	N/A	-510.1%-391.8pp	-118.2%-78.7pp	-39.5%
Return on Assets	-130.8%-27.7pp	-103.1%+50.8pp	-153.9%-12.6pp	-141.3%-71.5pp	-69.8%-33.2pp	-36.5%
Current Ratio	4.39-1.1	5.46+4.6	0.82-0.4	1.27-8.5	9.80-2.8	12.60
Debt-to-Equity	0.94+0.1	0.85+15.2	-14.38-17.0	2.61+1.9	0.69+0.6	0.08
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

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	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	-95.2%	N/A	-43.0%-12.4pp	-30.5%+94.3pp	-124.8%	N/A	-39.9%-19.9pp	-20.0%
Return on Assets	-30.7%	N/A	-27.8%-6.2pp	-21.6%+25.3pp	-46.9%	N/A	-26.1%-13.1pp	-13.1%
Current Ratio	2.62-1.8	4.39-0.8	5.14-1.5	6.64+3.1	3.51-2.0	5.46-1.3	6.78+2.2	4.56
Debt-to-Equity	2.10+1.2	0.94+0.4	0.55+0.1	0.41-1.2	1.66+0.8	0.85+0.3	0.530.0	0.53
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

Is Achieve Life Sciences Inc profitable?

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

What is Achieve Life Sciences Inc's return on equity (ROE)?

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.

What is Achieve Life Sciences Inc's free cash flow?

Achieve Life Sciences Inc (ACHV) generated -$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.

What is Achieve Life Sciences Inc's operating cash flow?

Achieve Life Sciences Inc (ACHV) generated -$49.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Achieve Life Sciences Inc's total assets?

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

What are Achieve Life Sciences Inc's capital expenditures?

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

How many shares does Achieve Life Sciences Inc have outstanding?

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

What is Achieve Life Sciences Inc's current ratio?

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

What is Achieve Life Sciences Inc's debt-to-equity ratio?

Achieve Life Sciences Inc (ACHV) had a debt-to-equity ratio of 0.94 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Achieve Life Sciences Inc's return on assets (ROA)?

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.

What is Achieve Life Sciences Inc's cash runway?

Based on fiscal year 2025 data, Achieve Life Sciences Inc (ACHV) had $20.9M in cash against an annual operating cash burn of $49.5M. 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 Achieve Life Sciences Inc's Piotroski F-Score?

Achieve Life Sciences Inc (ACHV) has a Piotroski F-Score of 1 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Achieve Life Sciences Inc's earnings high quality?

Achieve Life Sciences Inc (ACHV) has an earnings quality ratio of 0.91x, 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.

How financially healthy is Achieve Life Sciences Inc?

Achieve Life Sciences Inc (ACHV) scores 28 out of 100 on our Financial Profile, indicating weak 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.