Akari Therapeutics Plc Financials

AKTX

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Akari Therapeutics Plc (AKTX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 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

Piotroski F-Score Weak

2/9

Akari Therapeutics Plc passes 2 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality Low Quality

0.63x

For every $1 of reported earnings, Akari Therapeutics Plc generates $0.63 in operating cash flow (-$12.6M OCF vs -$19.8M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-88.7x

Akari Therapeutics Plc earns $-88.7 in operating income for every $1 of interest expense (-$21.6M vs $244K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Revenue

N/A

EBITDA

-$21.6M

YoY-28.7%

Akari Therapeutics Plc's EBITDA was -$21.6M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 28.7% from the prior year.

Free Cash Flow

N/A

Net Income

-$19.8M

YoY-97.8%

Akari Therapeutics Plc reported -$19.8M in net income in fiscal year 2024. This represents a decrease of 97.8% from the prior year.

EPS (Diluted)

$0.00

Akari Therapeutics Plc earned $0.00 per diluted share (EPS) in fiscal year 2024.

Cash & Debt

$2.6M

YoY-32.4%

5Y CAGR-14.6%

10Y CAGR-2.4%

Akari Therapeutics Plc held $2.6M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

49.52B

Akari Therapeutics Plc had 49.52B shares outstanding in fiscal year 2024. This represents an increase of 274.2% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

R&D Spending

$7.0M

YoY+28.1%

5Y CAGR-4.4%

10Y CAGR+15.8%

Akari Therapeutics Plc invested $7.0M in research and development in fiscal year 2024. This represents an increase of 28.1% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

AKTX Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	N/A	$368K-39.5%	$608K	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	$7.0M+28.1%	$5.5M+38.9%	$3.9M-57.0%	$9.1M+3.6%	$8.8M+0.9%	$8.7M
SG&A Expenses	$9.7M-14.9%	$11.4M-16.0%	$13.5M+67.4%	$8.1M-11.8%	$9.2M+11.4%	$8.2M
Operating Income	-$21.6M-28.8%	-$16.8M-41.8%	-$11.8M+31.2%	-$17.2M+4.3%	-$18.0M-6.0%	-$17.0M
Interest Expense	$244K	N/A	N/A	N/A	N/A	N/A
Income Tax	$0	$0+100.0%	-$74K	$0	$0	$0
Net Income	-$19.8M-97.8%	-$10.0M+23.5%	-$13.1M+24.9%	-$17.4M-2.0%	-$17.1M-1.4%	-$16.8M
EPS (Diluted)	$0.00	$0.00+100.0%	$-0.74	$0.00+100.0%	$-0.010.0%	$-0.01

Metric	Q3'25	Q3'24	Q2'24	Q4'23	Q3'23	Q2'23	Q4'22	Q2'22
Revenue	N/A	N/A	$0	N/A	N/A	$0	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	$249K+74.1%	$143K-95.7%	$3.3M	N/A	-$314K-184.6%	$371K	N/A	$2.9M
SG&A Expenses	$2.0M+15.6%	$1.7M-23.7%	$2.2M	N/A	$2.8M-8.7%	$3.1M	N/A	$3.0M
Operating Income	-$7.4M-153.0%	-$2.9M+60.7%	-$7.4M	N/A	-$2.5M+6.1%	-$2.7M	N/A	-$5.8M
Interest Expense	$100K+44.9%	$69K+35.3%	$51K	N/A	N/A	N/A	N/A	N/A
Income Tax	-$1.1M	$0	$0	N/A	N/A	$0	N/A	N/A
Net Income	-$6.4M-121.1%	-$2.9M+61.7%	-$7.6M	N/A	-$2.9M+28.2%	-$4.0M	N/A	-$5.7M
EPS (Diluted)	$0.00	$0.00	$0.00	N/A	$0.00+100.0%	$-0.29	N/A	$0.00

AKTX Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$50.6M+1061.0%	$4.4M-42.2%	$7.5M-35.4%	$11.6M-20.2%	$14.6M+125.4%	$6.5M
Current Assets	$3.0M-32.0%	$4.3M+34.4%	$3.2M-72.2%	$11.6M-20.3%	$14.6M+126.2%	$6.4M
Cash & Equivalents	$2.6M-32.4%	$3.8M+487.1%	$655K-93.0%	$9.4M-33.4%	$14.1M+145.2%	$5.7M
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	$8.4M	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$28.3M+518.1%	$4.6M-20.1%	$5.7M-57.8%	$13.6M+160.2%	$5.2M-19.3%	$6.5M
Current Liabilities	$19.9M+334.3%	$4.6M-57.6%	$10.8M	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$22.2M+9807.0%	-$229K-112.8%	$1.8M+192.5%	-$1.9M-120.6%	$9.4M+123410.4%	$8K
Retained Earnings	-$247.3M-8.7%	-$227.5M-797.4%	-$25.3M+87.3%	-$199.7M-9.6%	-$182.3M-10.3%	-$165.2M

Metric	Q3'25	Q3'24	Q2'24	Q4'23	Q3'23	Q2'23	Q4'22	Q2'22
Total Assets	$45.4M-10.3%	$50.6M+3424.3%	$1.4M-67.1%	$4.4M	N/A	$8.0M+6.4%	$7.5M-33.8%	$11.4M
Current Assets	$2.9M-0.2%	$3.0M+121.7%	$1.3M-69.3%	$4.3M	N/A	$8.0M+147.5%	$3.2M-71.5%	$11.4M
Cash & Equivalents	$2.5M-2.1%	$2.6M+1002.3%	$236K-93.9%	$3.8M-18.7%	$4.7M+2106.9%	$214K-67.3%	$655K-92.0%	$8.2M
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	$8.4M0.0%	$8.4M	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$22.7M-19.9%	$28.3M+451.5%	$5.1M+12.1%	$4.6M	N/A	$5.2M-8.8%	$5.7M+88.4%	$3.0M
Current Liabilities	$15.6M-21.8%	$19.9M-17.1%	$24.0M+424.1%	$4.6M	N/A	N/A	$10.8M	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$22.7M+2.1%	$22.2M+700.3%	-$3.7M-1517.0%	-$229K-207.5%	$213K-92.3%	$2.8M+55.3%	$1.8M-78.5%	$8.3M
Retained Earnings	-$259.3M-4.9%	-$247.3M-479.3%	-$42.7M+81.2%	-$227.5M	N/A	-$220.5M-769.8%	-$25.3M+88.0%	-$210.6M

AKTX Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$12.6M+23.6%	-$16.4M-119.5%	-$7.5M+60.3%	-$18.8M-11.2%	-$17.0M-31.2%	-$12.9M
Capital Expenditures	N/A	$0-100.0%	$142K	N/A	N/A	$0
Free Cash Flow	N/A	-$16.4M-115.4%	-$7.6M	N/A	N/A	-$12.9M
Investing Cash Flow	$382K	$0+100.0%	-$142K	N/A	N/A	$0
Financing Cash Flow	$11.0M+56.5%	$7.0M-13.7%	$8.1M-43.1%	$14.3M-43.0%	$25.1M+98.2%	$12.6M
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	Q3'25	Q3'24	Q2'24	Q4'23	Q3'23	Q2'23	Q4'22	Q2'22
Operating Cash Flow	-$2.1M+0.1%	-$2.1M+56.6%	-$4.9M-11.0%	-$4.4M+52.8%	-$9.3M-523.7%	$2.2M	N/A	N/A
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	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	$1.9M-11.9%	$2.2M-72.3%	$7.8M+120.7%	$3.5M+138.4%	$1.5M+224.6%	-$1.2M	N/A	N/A
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

AKTX Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	-4568.4%-2618.7pp	-1949.7%	N/A	N/A	N/A
Net Margin	N/A	-2720.5%-566.6pp	-2153.9%	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-39.1%+190.7pp	-229.8%-56.0pp	-173.8%-24.2pp	-149.6%-32.6pp	-117.0%+143.0pp	-260.0%
Current Ratio	0.15-0.8	0.95+0.6	0.30	N/A	N/A	N/A
Debt-to-Equity	1.27+21.3	-20.02-23.2	3.20+10.2	-7.02-7.6	0.56-851.3	851.84
FCF Margin	N/A	-4466.7%-3211.5pp	-1255.2%	N/A	N/A	N/A

Metric	Q3'25	Q3'24	Q2'24	Q4'23	Q3'23	Q2'23	Q4'22	Q2'22
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	15.3%	N/A	N/A	N/A
Return on Assets	-14.1%+91.8pp	-105.9%+420.9pp	-526.8%	N/A	N/A	-49.9%	N/A	-50.0%
Current Ratio	0.19+0.0	0.15+0.1	0.06-0.9	0.95	N/A	N/A	0.30	N/A
Debt-to-Equity	1.00-0.3	1.27+2.7	-1.39+18.6	-20.02	N/A	1.88-1.3	3.20+2.8	0.37
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Note: The current ratio is below 1.0 (0.15), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

Is Akari Therapeutics Plc profitable?

No, Akari Therapeutics Plc (AKTX) reported a net income of -$19.8M in fiscal year 2024.

What is Akari Therapeutics Plc's earnings per share (EPS)?

Akari Therapeutics Plc (AKTX) reported diluted earnings per share of $0.00 for fiscal year 2024. 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.

What is Akari Therapeutics Plc's EBITDA?

Akari Therapeutics Plc (AKTX) had EBITDA of -$21.6M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Akari Therapeutics Plc's operating cash flow?

Akari Therapeutics Plc (AKTX) generated -$12.6M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Akari Therapeutics Plc's total assets?

Akari Therapeutics Plc (AKTX) had $50.6M in total assets as of fiscal year 2024, including both current and long-term assets.

How much does Akari Therapeutics Plc spend on research and development?

Akari Therapeutics Plc (AKTX) invested $7.0M in research and development during fiscal year 2024.

How many shares does Akari Therapeutics Plc have outstanding?

Akari Therapeutics Plc (AKTX) had 49.52B shares outstanding as of fiscal year 2024.

What is Akari Therapeutics Plc's current ratio?

Akari Therapeutics Plc (AKTX) had a current ratio of 0.15 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

What is Akari Therapeutics Plc's debt-to-equity ratio?

Akari Therapeutics Plc (AKTX) had a debt-to-equity ratio of 1.27 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Akari Therapeutics Plc's return on assets (ROA)?

Akari Therapeutics Plc (AKTX) had a return on assets of -39.1% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Akari Therapeutics Plc's cash runway?

Based on fiscal year 2024 data, Akari Therapeutics Plc (AKTX) had $2.6M in cash against an annual operating cash burn of $12.6M. 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.

What is Akari Therapeutics Plc's Piotroski F-Score?

Akari Therapeutics Plc (AKTX) has a Piotroski F-Score of 2 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Akari Therapeutics Plc's earnings high quality?

Akari Therapeutics Plc (AKTX) has an earnings quality ratio of 0.63x, 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.

Can Akari Therapeutics Plc cover its interest payments?

Akari Therapeutics Plc (AKTX) has an interest coverage ratio of -88.7x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.