Alpha Cognition Financials
This page shows Alpha Cognition (ACOG) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 3 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
For every $1 of reported earnings, Alpha Cognition generates $0.99 in operating cash flow (-$20.4M OCF vs -$20.7M 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
Earnings & Revenue
Alpha Cognition generated $6.8M in revenue in fiscal year 2025.
Alpha Cognition's EBITDA was -$22.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 91.9% from the prior year.
Alpha Cognition reported -$20.7M in net income in fiscal year 2025. This represents a decrease of 41.2% from the prior year.
Alpha Cognition earned $-1.18 per diluted share (EPS) in fiscal year 2025. This represents an increase of 41.6% from the prior year.
Cash & Balance Sheet
Alpha Cognition generated -$20.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 165.7% from the prior year.
Alpha Cognition had 22M shares outstanding in fiscal year 2025. This represents an increase of 35.9% from the prior year.
Margins & Returns
Alpha Cognition's gross margin was 91.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs.
Alpha Cognition's operating margin was -333.6% in fiscal year 2025, reflecting core business profitability.
Alpha Cognition's net profit margin was -304.3% in fiscal year 2025, showing the share of revenue converted to profit.
Capital Allocation
Alpha Cognition invested $1.9M in research and development in fiscal year 2025. This represents a decrease of 52.3% from the prior year.
Alpha Cognition invested $293K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 999.2% from the prior year.
ACOG Income Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.8M+71.4% | $1.7M-43.4% | $2.9M | N/A | N/A | N/A | N/A | N/A |
| Cost of Revenue | $163K-63.1% | $441K+3375.3% | $13K | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | $2.7M+120.1% | $1.2M-58.3% | $2.9M | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | $574K+80.9% | $317K-22.2% | $408K | N/A | $996K+3.0% | $967K+5.5% | $917K | N/A |
| SG&A Expenses | $6.9M+6.2% | $6.5M+21.9% | $5.4M | N/A | $1.5M+2.6% | $1.4M-58.7% | $3.5M | N/A |
| Operating Income | -$5.3M+7.4% | -$5.7M-55.6% | -$3.7M | N/A | -$2.5M-2.7% | -$2.4M+45.1% | -$4.4M | N/A |
| Interest Expense | N/A | -$644-107.3% | $9K | N/A | $19K+22.8% | $15K+84.3% | $8K | N/A |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$1.3M+87.4% | -$10.5M-422.7% | -$2.0M | N/A | -$1.9M+12.1% | -$2.1M+57.7% | -$5.0M | N/A |
| EPS (Diluted) | $-0.30+53.8% | $-0.65-400.0% | $-0.13 | N/A | $-0.31 | $-0.35+59.8% | $-0.87 | N/A |
ACOG Balance Sheet
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $46.3M+2.6% | $45.1M-7.2% | $48.6M-4.2% | $50.7M+909.1% | $5.0M+141.5% | $2.1M | N/A | $2.5M |
| Current Assets | $45.7M+2.4% | $44.6M-7.2% | $48.1M-4.2% | $50.3M+1013.1% | $4.5M+198.2% | $1.5M | N/A | $1.9M |
| Cash & Equivalents | $35.4M-10.2% | $39.4M-13.4% | $45.5M-6.2% | $48.5M+1224.1% | $3.7M+259.9% | $1.0M-58.0% | $2.4M+72.6% | $1.4M |
| Inventory | $4.5M+413.7% | $876K-0.9% | $883K+43.6% | $615K | N/A | N/A | N/A | N/A |
| Accounts Receivable | $2.8M+56.9% | $1.8M+329.0% | $423K | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $12.4M-6.3% | $13.2M+69.6% | $7.8M-15.9% | $9.3M+16.7% | $7.9M+665.1% | $1.0M | N/A | $7.2M |
| Current Liabilities | $6.8M+124.7% | $3.0M+8.3% | $2.8M-16.2% | $3.4M+11.5% | $3.0M+91.3% | $1.6M | N/A | $2.6M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $33.9M+6.3% | $31.9M-21.8% | $40.8M-1.6% | $41.5M+1713.7% | -$2.6M-346.3% | $1.0M+94.9% | $535K+111.4% | -$4.7M |
| Retained Earnings | -$90.1M-1.5% | -$88.8M-13.4% | -$78.3M-2.6% | -$76.3M-8.0% | -$70.6M-2.7% | -$68.8M | N/A | -$61.6M |
ACOG Cash Flow Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$5.3M+13.8% | -$6.1M-200.3% | -$2.0M+11.3% | -$2.3M-46.0% | -$1.6M-12.5% | -$1.4M+43.3% | -$2.5M-21.7% | -$2.0M |
| Capital Expenditures | $74K+794.5% | $8K-86.9% | $63K | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | -$5.4M+12.7% | -$6.1M-191.7% | -$2.1M | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$74K-794.5% | -$8K+86.9% | -$63K | N/A | N/A | N/A | N/A | N/A |
| Financing Cash Flow | $1.4M+12667.0% | -$11K+98.7% | -$834K-101.8% | $47.1M+1033.4% | $4.2M+2296.9% | $173K-94.9% | $3.4M+29.9% | $2.6M |
| 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 |
ACOG Financial Ratios
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 94.3%+20.9pp | 73.4%-26.2pp | 99.6% | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | -187.0%+159.1pp | -346.1%-220.2pp | -125.9% | N/A | N/A | N/A | N/A | N/A |
| Net Margin | -46.4%+586.3pp | -632.8%-564.2pp | -68.5% | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | -3.9%+29.0pp | -32.9%-28.0pp | -4.9% | N/A | N/A | -202.8%+732.0pp | -934.8% | N/A |
| Return on Assets | -2.9%+20.4pp | -23.3%-19.1pp | -4.1% | N/A | -37.0%+64.6pp | -101.6% | N/A | N/A |
| Current Ratio | 6.69-8.0 | 14.69-2.5 | 17.14+2.1 | 15.00+13.5 | 1.50+0.5 | 0.96 | N/A | 0.73 |
| Debt-to-Equity | 0.37-0.0 | 0.41+0.2 | 0.19-0.0 | 0.22+3.3 | -3.09-4.1 | 1.00 | N/A | -1.52 |
| FCF Margin | -188.8%+182.0pp | -370.9%-298.9pp | -72.0% | N/A | N/A | N/A | N/A | N/A |
Similar Companies
Frequently Asked Questions
What is Alpha Cognition's annual revenue?
Alpha Cognition (ACOG) reported $6.8M in total revenue for fiscal year 2025. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Is Alpha Cognition profitable?
No, Alpha Cognition (ACOG) reported a net income of -$20.7M in fiscal year 2025, with a net profit margin of -304.3%.
What is Alpha Cognition's EBITDA?
Alpha Cognition (ACOG) had EBITDA of -$22.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Alpha Cognition's gross margin?
Alpha Cognition (ACOG) had a gross margin of 91.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Alpha Cognition's operating margin?
Alpha Cognition (ACOG) had an operating margin of -333.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Alpha Cognition's net profit margin?
Alpha Cognition (ACOG) had a net profit margin of -304.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Alpha Cognition's free cash flow?
Alpha Cognition (ACOG) generated -$20.7M in free cash flow during fiscal year 2025. This represents a -165.7% 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 Alpha Cognition's operating cash flow?
Alpha Cognition (ACOG) generated -$20.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Alpha Cognition's capital expenditures?
Alpha Cognition (ACOG) invested $293K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Alpha Cognition spend on research and development?
Alpha Cognition (ACOG) invested $1.9M in research and development during fiscal year 2025.
Are Alpha Cognition's earnings high quality?
Alpha Cognition (ACOG) has an earnings quality ratio of 0.99x, 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.