What is Aeon Biopharma's earnings per share (EPS)?

Aeon Biopharma (AEON) reported diluted earnings per share of $-3.95 for fiscal year 2025. 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.

Aeon Biopharma Financials

AEON

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

This page shows Aeon Biopharma (AEON) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 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 AEON FY2025 2026-05-14

AEON’s business mechanic is financing-dependent cash burn, with losses narrowing because R&D spending fell faster than overhead.

Between FY2022 and FY2025, operating loss shrank from -$48.4M to -$12.8M, but that improvement came mostly from R&D dropping from $34.8M to $4.1M while SG&A stayed near $12.2M; the company looks smaller, not scaled. Because free cash flow and operating cash flow were both about -$17.3M in FY2025, the cash need is coming from day-to-day operations rather than heavy reinvestment.

FY2025 ended with only $3.0M of cash against -$17.3M of operating cash flow, so the year-end liquidity reflects fresh financing more than internally generated cash. The current ratio improved from 0.1x to 0.5x, but short-term obligations still exceed near-term resources.

With liabilities of $60.6M against assets of $5.6M, AEON is carrying a deeply negative equity base, meaning the enterprise is being sustained by outside capital rather than accumulated business value. Capital spending was only $4K, which points to an asset-light operating model where funding is being used to keep the organization running, not to build a large physical asset base.

Financial Health Signals

Financial Profile 1/100

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 Aeon Biopharma'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.

Liquidity

Aeon Biopharma's current ratio of 0.49 is below the typical benchmark, resulting in a score of 4/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

-$12.7M

Aeon Biopharma's EBITDA was -$12.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

Net Income

N/A

EPS (Diluted)

$-3.95

Aeon Biopharma earned $-3.95 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 105.4% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$17.3M

Aeon Biopharma generated -$17.3M in free cash flow in fiscal year 2025, representing cash available after capex.

Cash & Debt

$3.0M

YoY+23023.1%

Aeon Biopharma held $3.0M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

12M

Aeon Biopharma had 12M shares outstanding in fiscal year 2025. This represents an increase of 2079.2% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

Capital Allocation

R&D Spending

$4.1M

YoY-71.1%

Aeon Biopharma invested $4.1M in research and development in fiscal year 2025. This represents a decrease of 71.1% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$4K

Aeon Biopharma invested $4K in capex in fiscal year 2025, funding long-term assets and infrastructure.

AEON Income Statement

Metric	FY25	FY24	FY22	FY21
Revenue	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A
R&D Expenses	$4.1M-71.1%	$14.2M-59.2%	$34.8M	N/A
SG&A Expenses	$12.2M-10.5%	$13.6M-0.2%	$13.7M	N/A
Operating Income	-$12.8M	N/A	-$48.4M-2401.6%	-$1.9M
Interest Expense	N/A	N/A	N/A	N/A
Income Tax	$0	$0	$0	N/A
Net Income	N/A	N/A	-$52.6M-740.9%	$8.2M
EPS (Diluted)	$-3.95	$72.93	$-0.38	N/A

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	$2.0M	N/A	$597K-43.9%	$1.1M+29.0%	$825K	N/A	$972K-78.1%	$4.4M
SG&A Expenses	$3.9M	N/A	$1.9M-40.7%	$3.3M+4.3%	$3.1M	N/A	$3.0M-8.3%	$3.3M
Operating Income	-$5.9M	N/A	-$2.5M+42.5%	-$4.3M-839.0%	-$462K	N/A	-$4.0M	N/A
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	-$11.8M	N/A	-$4.5M+31.7%	-$6.6M-173.0%	$9.1M	N/A	-$6.2M	N/A
EPS (Diluted)	$-0.29	N/A	$-0.39	$-0.60	$2.28	N/A	$-11.24-103.7%	$304.00

AEON Balance Sheet

Metric	FY25	FY24	FY22	FY21
Total Assets	$5.6M+77.0%	$3.1M-70.8%	$10.8M-96.1%	$276.9M
Current Assets	$3.4M+113.7%	$1.6M-83.8%	$9.8M+1077.9%	$835K
Cash & Equivalents	$3.0M+23023.1%	$13K-99.9%	$9.7M+1859.3%	$497K
Inventory	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A
Total Liabilities	$60.6M+91.1%	$31.7M-89.4%	$298.3M+1.5%	$293.9M
Current Liabilities	$6.9M-51.3%	$14.1M-82.9%	$82.6M+9794.0%	$835K
Long-Term Debt	N/A	N/A	N/A	N/A
Total Equity	-$55.0M-92.6%	-$28.6M+90.1%	-$287.5M-1598.2%	-$16.9M
Retained Earnings	-$470.8M-9.1%	-$431.6M+9.1%	-$474.8M-2699.3%	-$17.0M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$8.6M+55.2%	$5.6M-36.3%	$8.7M-25.1%	$11.7M-15.5%	$13.8M+339.2%	$3.1M-21.5%	$4.0M-30.2%	$5.7M
Current Assets	$6.6M+95.0%	$3.4M-54.2%	$7.4M-27.8%	$10.3M-16.7%	$12.3M+674.9%	$1.6M-32.9%	$2.4M-41.0%	$4.0M
Cash & Equivalents	$6.2M+107.7%	$3.0M-49.3%	$5.9M-29.8%	$8.4M-19.2%	$10.4M+80253.8%	$13K-97.6%	$537K-84.4%	$3.4M
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	$25.4M-58.1%	$60.6M+111.8%	$28.6M+4.0%	$27.5M+9.5%	$25.1M-20.8%	$31.7M-12.1%	$36.1M+7.2%	$33.7M
Current Liabilities	$6.7M-3.3%	$6.9M-16.2%	$8.2M-9.9%	$9.1M+5.7%	$8.6M-38.9%	$14.1M+31.9%	$10.7M+2.8%	$10.4M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$16.8M+69.6%	-$55.0M-176.9%	-$19.9M-25.4%	-$15.9M-40.0%	-$11.3M+60.4%	-$28.6M+11.0%	-$32.1M-14.8%	-$27.9M
Retained Earnings	-$482.6M-2.5%	-$470.8M-8.6%	-$433.7M-1.1%	-$429.1M-1.6%	-$422.5M+2.1%	-$431.6M+0.5%	-$433.7M-1.4%	-$427.5M

AEON Cash Flow Statement

Metric	FY25	FY24	FY22	FY21
Operating Cash Flow	-$17.3M	N/A	-$35.6M-2280.5%	-$1.5M
Capital Expenditures	$4K	N/A	$306K	N/A
Free Cash Flow	-$17.3M	N/A	-$35.9M	N/A
Investing Cash Flow	-$4K	N/A	-$306K+99.9%	-$276.0M
Financing Cash Flow	$20.3M+34.1%	$15.1M-62.6%	$40.5M-85.4%	$278.0M
Dividends Paid	N/A	N/A	N/A	N/A
Share Buybacks	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	-$2.6M+44.1%	-$4.7M-81.5%	-$2.6M-24.2%	-$2.1M+73.6%	-$7.9M-1173.6%	-$621K+79.0%	-$3.0M+63.6%	-$8.1M
Capital Expenditures	N/A	$0	$0	$0-100.0%	$4K	N/A	N/A	N/A
Free Cash Flow	N/A	-$4.7M-81.5%	-$2.6M-24.2%	-$2.1M+73.6%	-$7.9M	N/A	N/A	N/A
Investing Cash Flow	N/A	$0	$0	$0+100.0%	-$4K	N/A	N/A	N/A
Financing Cash Flow	$5.9M+227.9%	$1.8M+2032.1%	$84K0.0%	$84K-99.5%	$18.3M+18813.4%	$97K+94.0%	$50K-99.5%	$10.0M
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

AEON Financial Ratios

Metric	FY25	FY24	FY22	FY21
Gross Margin	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	-487.6%-490.6pp	3.0%
Current Ratio	0.49+0.4	0.110.0	0.12-0.9	1.00
Debt-to-Equity	-1.100.0	-1.11-0.1	-1.04+16.3	-17.36
FCF Margin	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	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-136.7%	N/A	-52.0%+5.0pp	-57.0%-122.9pp	65.9%	N/A	-154.1%	N/A
Current Ratio	0.99+0.5	0.49-0.4	0.90-0.2	1.12-0.3	1.43+1.3	0.11-0.1	0.22-0.2	0.39
Debt-to-Equity	-1.52-0.4	-1.10+0.3	-1.44+0.3	-1.74+0.5	-2.22-1.1	-1.11+0.0	-1.12+0.1	-1.21
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Note: Shareholder equity is negative (-$55.0M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

Note: The current ratio is below 1.0 (0.49), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is Aeon Biopharma's EBITDA?

Aeon Biopharma (AEON) had EBITDA of -$12.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Aeon Biopharma's free cash flow?

Aeon Biopharma (AEON) generated -$17.3M 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 Aeon Biopharma's operating cash flow?

Aeon Biopharma (AEON) generated -$17.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Aeon Biopharma's total assets?

Aeon Biopharma (AEON) had $5.6M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Aeon Biopharma's capital expenditures?

Aeon Biopharma (AEON) invested $4K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Aeon Biopharma spend on research and development?

Aeon Biopharma (AEON) invested $4.1M in research and development during fiscal year 2025.

How many shares does Aeon Biopharma have outstanding?

Aeon Biopharma (AEON) had 12M shares outstanding as of fiscal year 2025.

What is Aeon Biopharma's current ratio?

Aeon Biopharma (AEON) had a current ratio of 0.49 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Aeon Biopharma's debt-to-equity ratio?

Aeon Biopharma (AEON) had a debt-to-equity ratio of -1.10 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Aeon Biopharma's cash runway?

Based on fiscal year 2025 data, Aeon Biopharma (AEON) had $3.0M in cash against an annual operating cash burn of $17.3M. This gives an estimated cash runway of approximately 2 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.

Why is Aeon Biopharma's debt-to-equity ratio negative or unusual?

Aeon Biopharma (AEON) has negative shareholder equity of -$55.0M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

How financially healthy is Aeon Biopharma?

Aeon Biopharma (AEON) scores 1 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.