What is Acrivon Therapeutics, Inc.'s earnings per share (EPS)?

Acrivon Therapeutics, Inc. (ACRV) reported diluted earnings per share of $-2.02 for fiscal year 2025. This represents a 15.1% 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.

Acrivon Therapeutics, Inc. Financials

ACRV

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

This page shows Acrivon Therapeutics, Inc. (ACRV) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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 ACRV FY2025 2026-05-13

Clinical-stage economics still dominate here: persistent R&D cash burn is being carried by a debt-light, previously funded balance sheet.

Cash ended FY2025 at $41.5M even though operating cash flow was -$63.7M. That mismatch was covered by a $66.1M investing inflow, which means liquidity was maintained by turning earlier-funded investments into cash rather than by any self-funding operating engine yet.

The balance sheet still looks equity-funded: total liabilities were only $17.2M against $129.7M of assets, so near-term strain comes from burn rate, not from creditors demanding repayment. With no long-term debt reported and a current ratio of 7.7x, the company has material liquidity room even while losses remain large.

Spending remains development-heavy, with R&D at $60.0M versus SG&A at $24.1M, so the cost base is still centered on research rather than commercial infrastructure. The accounting loss improved slightly from FY2024, but cash burn barely changed, which suggests the apparent progress came more from non-cash items and portfolio movements than from a real reduction in operating cash needs.

Financial Health Signals

Financial Profile 33/100

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 Acrivon Therapeutics, 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

Acrivon Therapeutics, Inc. carries a low D/E ratio of 0.15, meaning only $0.15 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 99/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

100

With a current ratio of 7.69, Acrivon Therapeutics, Inc. holds $7.69 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Returns

Acrivon Therapeutics, Inc. generates a -69.2% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -45.6% the prior year.

Piotroski F-Score Weak

1/9

Acrivon Therapeutics, 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

0.82x

For every $1 of reported earnings, Acrivon Therapeutics, Inc. generates $0.82 in operating cash flow (-$63.7M OCF vs -$77.9M 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

-$82.8M

YoY+6.2%

Acrivon Therapeutics, Inc.'s EBITDA was -$82.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 6.2% from the prior year.

Net Income

-$77.9M

YoY+3.3%

Acrivon Therapeutics, Inc. reported -$77.9M in net income in fiscal year 2025. This represents an increase of 3.3% from the prior year.

EPS (Diluted)

$-2.02

YoY+15.1%

Acrivon Therapeutics, Inc. earned $-2.02 per diluted share (EPS) in fiscal year 2025. This represents an increase of 15.1% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$65.3M

YoY+4.5%

Acrivon Therapeutics, Inc. generated -$65.3M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 4.5% from the prior year.

Cash & Debt

$41.5M

YoY+4.2%

Acrivon Therapeutics, Inc. held $41.5M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

32M

YoY+1.3%

Acrivon Therapeutics, Inc. had 32M shares outstanding in fiscal year 2025. This represents an increase of 1.3% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-69.2%

YoY-23.7pp

Acrivon Therapeutics, Inc.'s ROE was -69.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 23.7 percentage points from the prior year.

Capital Allocation

R&D Spending

$60.0M

YoY-6.3%

Acrivon Therapeutics, Inc. invested $60.0M in research and development in fiscal year 2025. This represents a decrease of 6.3% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$1.7M

YoY-39.7%

Acrivon Therapeutics, Inc. invested $1.7M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 39.7% from the prior year.

ACRV Income Statement

Metric	FY25	FY24	FY23	FY22	FY21
Revenue	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$60.0M-6.3%	$64.0M+39.0%	$46.0M+92.2%	$23.9M	N/A
SG&A Expenses	$24.1M-4.3%	$25.2M+19.6%	$21.1M+142.1%	$8.7M	N/A
Operating Income	-$84.1M+5.7%	-$89.2M-32.9%	-$67.1M-105.5%	-$32.7M-101.8%	-$16.2M
Interest Expense	N/A	N/A	N/A	N/A	N/A
Income Tax	$0	N/A	N/A	N/A	N/A
Net Income	-$77.9M+3.3%	-$80.6M-33.4%	-$60.4M-93.8%	-$31.2M-91.9%	-$16.2M
EPS (Diluted)	$-2.02+15.1%	$-2.38+13.1%	$-2.74+63.8%	$-7.56	$-9.32

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	$15.2M	N/A	$13.6M-15.7%	$16.2M+5.0%	$15.4M	N/A	$18.9M+25.6%	$15.0M
SG&A Expenses	$4.7M	N/A	$6.0M-6.6%	$6.5M+3.5%	$6.2M	N/A	$6.3M-2.1%	$6.4M
Operating Income	-$19.9M	N/A	-$19.7M+13.1%	-$22.6M-4.6%	-$21.7M	N/A	-$25.1M-17.3%	-$21.4M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$19.0M	N/A	-$18.2M+13.2%	-$21.0M-6.7%	-$19.7M	N/A	-$22.4M-19.4%	-$18.8M
EPS (Diluted)	$-0.49	N/A	$-0.47+14.5%	$-0.55-7.8%	$-0.51	N/A	$-0.59-13.5%	$-0.52

ACRV Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21
Total Assets	$129.7M-34.0%	$196.6M+42.2%	$138.3M-23.7%	$181.2M+70.0%	$106.6M
Current Assets	$120.4M-33.7%	$181.6M+40.0%	$129.7M-1.8%	$132.1M+31.6%	$100.4M
Cash & Equivalents	$41.5M+4.2%	$39.8M+10.6%	$36.0M+22.0%	$29.5M-70.4%	$99.6M
Inventory	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$17.2M-13.1%	$19.8M+16.0%	$17.1M+58.8%	$10.8M-91.8%	$130.4M
Current Liabilities	$15.7M-9.0%	$17.2M+29.4%	$13.3M+104.2%	$6.5M+123.6%	$2.9M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A
Total Equity	$112.5M-36.4%	$176.8M+45.9%	$121.2M-28.9%	$170.5M+816.0%	-$23.8M
Retained Earnings	-$274.9M-39.6%	-$197.0M-69.2%	-$116.4M-107.8%	-$56.0M-125.3%	-$24.9M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$107.8M-16.9%	$129.7M-10.7%	$145.3M-8.4%	$158.6M-10.1%	$176.3M-10.3%	$196.6M-8.4%	$214.7M-6.9%	$230.6M
Current Assets	$99.2M-17.6%	$120.4M-7.6%	$130.4M-5.8%	$138.4M-8.5%	$151.3M-16.7%	$181.6M-3.9%	$189.0M+3.6%	$182.4M
Cash & Equivalents	$34.1M-17.9%	$41.5M+17.2%	$35.4M-15.5%	$41.9M+7.0%	$39.2M-1.7%	$39.8M-8.3%	$43.4M-5.6%	$46.0M
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	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$12.3M-28.4%	$17.2M+3.0%	$16.7M+7.4%	$15.5M-2.6%	$16.0M-19.4%	$19.8M+11.3%	$17.8M+22.5%	$14.5M
Current Liabilities	$11.1M-29.4%	$15.7M+5.2%	$14.9M+10.9%	$13.4M-0.9%	$13.6M-21.3%	$17.2M+16.2%	$14.8M+31.3%	$11.3M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$95.5M-15.1%	$112.5M-12.5%	$128.6M-10.1%	$143.0M-10.8%	$160.4M-9.3%	$176.8M-10.2%	$196.9M-8.9%	$216.1M
Retained Earnings	-$293.9M-6.9%	-$274.9M-7.4%	-$255.9M-7.7%	-$237.7M-9.7%	-$216.7M-10.0%	-$197.0M-13.1%	-$174.1M-14.8%	-$151.7M

ACRV Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21
Operating Cash Flow	-$63.7M+3.1%	-$65.7M-54.0%	-$42.6M-41.6%	-$30.1M-115.4%	-$14.0M
Capital Expenditures	$1.7M-39.7%	$2.8M+114.9%	$1.3M-40.5%	$2.2M+810.1%	$238K
Free Cash Flow	-$65.3M+4.5%	-$68.4M-55.8%	-$43.9M-36.1%	-$32.3M-127.0%	-$14.2M
Investing Cash Flow	$66.1M+227.7%	-$51.8M-202.1%	$50.7M+135.8%	-$141.7M-59427.7%	-$238K
Financing Cash Flow	-$749K-100.6%	$121.0M+7888.1%	-$1.6M-101.5%	$101.7M-9.4%	$112.2M
Dividends Paid	N/A	N/A	N/A	N/A	N/A
Share Buybacks	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	-$20.5M-34.8%	-$15.2M-24.0%	-$12.3M+26.1%	-$16.6M+15.0%	-$19.5M-12.5%	-$17.4M-0.2%	-$17.3M-24.6%	-$13.9M
Capital Expenditures	$14K-93.6%	$219K-75.6%	$899K+82.4%	$493K+750.0%	$58K-93.0%	$827K-16.4%	$989K+621.9%	$137K
Free Cash Flow	-$20.6M-33.0%	-$15.5M-17.3%	-$13.2M+22.9%	-$17.1M+12.7%	-$19.6M-7.7%	-$18.2M+0.7%	-$18.3M-30.4%	-$14.0M
Investing Cash Flow	$13.1M-39.0%	$21.5M+264.1%	$5.9M-69.6%	$19.5M+1.2%	$19.2M+33.3%	$14.4M-10.0%	$16.0M+118.2%	-$88.0M
Financing Cash Flow	-$33K+82.8%	-$192K-64.1%	-$117K-20.6%	-$97K+71.7%	-$343K+47.0%	-$647K+57.0%	-$1.5M-101.2%	$123.3M
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

ACRV Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21
Gross Margin	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A
Return on Equity	-69.2%-23.7pp	-45.6%+4.3pp	-49.8%-31.6pp	-18.3%	N/A
Return on Assets	-60.1%-19.1pp	-41.0%+2.7pp	-43.7%-26.5pp	-17.2%-2.0pp	-15.2%
Current Ratio	7.69-2.9	10.55+0.8	9.75-10.5	20.27-14.2	34.46
Debt-to-Equity	0.15+0.0	0.11-0.0	0.14+0.1	0.06+5.5	-5.48
FCF Margin	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	-19.9%	N/A	-14.2%+0.5pp	-14.7%-2.4pp	-12.3%	N/A	-11.4%-2.7pp	-8.7%
Return on Assets	-17.7%	N/A	-12.6%+0.7pp	-13.3%-2.1pp	-11.2%	N/A	-10.4%-2.3pp	-8.2%
Current Ratio	8.98+1.3	7.69-1.1	8.75-1.6	10.31-0.9	11.17+0.6	10.55-2.2	12.75-3.4	16.16
Debt-to-Equity	0.13-0.0	0.15+0.0	0.13+0.0	0.110.0	0.10-0.0	0.11+0.0	0.09+0.0	0.07
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 Acrivon Therapeutics, Inc. profitable?

No, Acrivon Therapeutics, Inc. (ACRV) reported a net income of -$77.9M in fiscal year 2025.

What is Acrivon Therapeutics, Inc.'s EBITDA?

Acrivon Therapeutics, Inc. (ACRV) had EBITDA of -$82.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Acrivon Therapeutics, Inc.'s return on equity (ROE)?

Acrivon Therapeutics, Inc. (ACRV) has a return on equity of -69.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Acrivon Therapeutics, Inc.'s free cash flow?

Acrivon Therapeutics, Inc. (ACRV) generated -$65.3M in free cash flow during fiscal year 2025. This represents a 4.5% 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 Acrivon Therapeutics, Inc.'s operating cash flow?

Acrivon Therapeutics, Inc. (ACRV) generated -$63.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Acrivon Therapeutics, Inc.'s total assets?

Acrivon Therapeutics, Inc. (ACRV) had $129.7M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Acrivon Therapeutics, Inc.'s capital expenditures?

Acrivon Therapeutics, Inc. (ACRV) invested $1.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Acrivon Therapeutics, Inc. spend on research and development?

Acrivon Therapeutics, Inc. (ACRV) invested $60.0M in research and development during fiscal year 2025.

How many shares does Acrivon Therapeutics, Inc. have outstanding?

Acrivon Therapeutics, Inc. (ACRV) had 32M shares outstanding as of fiscal year 2025.

What is Acrivon Therapeutics, Inc.'s current ratio?

Acrivon Therapeutics, Inc. (ACRV) had a current ratio of 7.69 as of fiscal year 2025, which is generally considered healthy.

What is Acrivon Therapeutics, Inc.'s debt-to-equity ratio?

Acrivon Therapeutics, Inc. (ACRV) had a debt-to-equity ratio of 0.15 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Acrivon Therapeutics, Inc.'s return on assets (ROA)?

Acrivon Therapeutics, Inc. (ACRV) had a return on assets of -60.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Acrivon Therapeutics, Inc.'s cash runway?

Based on fiscal year 2025 data, Acrivon Therapeutics, Inc. (ACRV) had $41.5M in cash against an annual operating cash burn of $63.7M. This gives an estimated cash runway of approximately 8 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 Acrivon Therapeutics, Inc.'s Piotroski F-Score?

Acrivon Therapeutics, Inc. (ACRV) 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 Acrivon Therapeutics, Inc.'s earnings high quality?

Acrivon Therapeutics, Inc. (ACRV) has an earnings quality ratio of 0.82x, 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 Acrivon Therapeutics, Inc.?

Acrivon Therapeutics, Inc. (ACRV) scores 33 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.