Aldeyra Therapeu Financials

ALDX

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

This page shows Aldeyra Therapeu (ALDX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 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

1/9

Aldeyra Therapeu 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

0.77x

For every $1 of reported earnings, Aldeyra Therapeu generates $0.77 in operating cash flow (-$43.2M OCF vs -$55.9M 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

-31.2x

Aldeyra Therapeu earns $-31.2 in operating income for every $1 of interest expense (-$60.1M vs $1.9M). 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

-$59.9M

YoY-40.8%

Aldeyra Therapeu's EBITDA was -$59.9M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 40.8% from the prior year.

Free Cash Flow

N/A

Net Income

-$55.9M

YoY-48.8%

Aldeyra Therapeu reported -$55.9M in net income in fiscal year 2024. This represents a decrease of 48.8% from the prior year.

EPS (Diluted)

$-0.94

YoY-46.9%

Aldeyra Therapeu earned $-0.94 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 46.9% from the prior year.

Cash & Debt

$54.5M

YoY-61.8%

5Y CAGR+4.2%

10Y CAGR+20.4%

Aldeyra Therapeu held $54.5M in cash against $15.0M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

60M

YoY+0.8%

5Y CAGR+15.8%

10Y CAGR+26.8%

Aldeyra Therapeu had 60M shares outstanding in fiscal year 2024. This represents an increase of 0.8% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

R&D Spending

$48.2M

YoY+63.7%

5Y CAGR+1.7%

10Y CAGR+29.2%

Aldeyra Therapeu invested $48.2M in research and development in fiscal year 2024. This represents an increase of 63.7% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

ALDX Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
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	$48.2M+63.7%	$29.5M-37.7%	$47.3M+5.3%	$44.9M+82.1%	$24.7M-44.4%	$44.4M
SG&A Expenses	$11.9M-10.8%	$13.3M-13.3%	$15.4M+36.3%	$11.3M+13.0%	$10.0M-17.8%	$12.2M
Operating Income	-$60.1M-40.5%	-$42.8M+31.7%	-$62.7M-11.5%	-$56.2M-54.4%	-$36.4M+42.3%	-$63.1M
Interest Expense	$1.9M-7.0%	$2.1M+22.3%	$1.7M-2.8%	$1.7M-8.5%	$1.9M+215.3%	$604K
Income Tax	$1K	$0	$0	$0+100.0%	-$479K+63.4%	-$1.3M
Net Income	-$55.9M-48.8%	-$37.5M+39.5%	-$62.0M-7.4%	-$57.8M-53.8%	-$37.6M+38.3%	-$60.8M
EPS (Diluted)	$-0.94-46.9%	$-0.64+39.6%	$-1.06+0.9%	$-1.07	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q4'23	Q3'24	Q2'24	Q1'24	Q4'22
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	$5.4M-36.1%	$8.5M+14.6%	$7.4M	N/A	$7.0M0.0%	$7.0M-38.0%	$11.2M	N/A
SG&A Expenses	$2.6M+54.5%	$1.7M-44.6%	$3.0M	N/A	$2.6M-23.4%	$3.4M-39.3%	$5.6M	N/A
Operating Income	-$8.0M+21.3%	-$10.2M+2.5%	-$10.4M	N/A	-$9.6M+7.7%	-$10.3M+38.4%	-$16.8M	N/A
Interest Expense	$476K+1.1%	$471K-2.7%	$484K	N/A	$539K+2.2%	$527K+7.3%	$491K	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$7.7M+21.3%	-$9.8M+1.6%	-$9.9M	N/A	-$8.2M+8.9%	-$9.0M+42.4%	-$15.6M	N/A
EPS (Diluted)	$-0.13+18.8%	$-0.16+5.9%	$-0.17	N/A	$-0.14+6.7%	$-0.15+44.4%	$-0.27	N/A

ALDX Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$104.6M-29.5%	$148.3M-18.2%	$181.3M-22.2%	$233.1M+179.7%	$83.4M+10.4%	$75.5M
Current Assets	$104.1M-29.6%	$147.8M-18.3%	$181.0M-22.2%	$232.8M+180.2%	$83.1M+10.5%	$75.2M
Cash & Equivalents	$54.5M-61.8%	$142.8M-1.1%	$144.4M-37.2%	$229.8M+195.1%	$77.9M+75.3%	$44.4M
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	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$33.6M+17.8%	$28.5M-5.8%	$30.3M+10.5%	$27.4M+14.9%	$23.8M-13.1%	$27.4M
Current Liabilities	$18.6M-16.4%	$22.3M+44.9%	$15.4M+30.5%	$11.8M-5.1%	$12.4M-3.9%	$12.9M
Long-Term Debt	$15.0M	$0-100.0%	$14.9M-3.7%	$15.5M+35.6%	$11.4M-21.3%	$14.5M
Total Equity	$71.0M-40.7%	$119.8M-20.7%	$151.0M-26.6%	$205.7M+245.7%	$59.5M+23.8%	$48.1M
Retained Earnings	-$450.1M-14.2%	-$394.3M-10.5%	-$356.7M-21.0%	-$294.7M-24.4%	-$236.9M-18.8%	-$199.4M

Metric	Q3'25	Q2'25	Q1'25	Q4'23	Q3'24	Q2'24	Q1'24	Q4'22
Total Assets	$77.8M-8.4%	$85.0M-8.8%	$93.2M-37.2%	$148.3M+0.7%	$147.3M-5.4%	$155.6M-7.5%	$168.2M-7.2%	$181.3M
Current Assets	$77.5M-8.4%	$84.6M-8.8%	$92.7M-37.3%	$147.8M+0.4%	$147.2M-5.3%	$155.5M-7.5%	$168.0M-7.2%	$181.0M
Cash & Equivalents	$59.3M+43.9%	$41.2M-18.1%	$50.4M-64.7%	$142.8M-0.4%	$143.3M-5.5%	$151.7M-8.1%	$165.0M+14.3%	$144.4M
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	$28.6M-3.8%	$29.7M+0.3%	$29.6M+3.7%	$28.5M+17.5%	$24.3M-5.7%	$25.7M-16.9%	$31.0M+2.3%	$30.3M
Current Liabilities	$28.5M-3.5%	$29.5M+106.7%	$14.3M-35.8%	$22.3M+3.0%	$21.6M+38.5%	$15.6M-2.5%	$16.0M+4.2%	$15.4M
Long-Term Debt	$0	$0-100.0%	$15.1M	$0-100.0%	$2.7M-73.8%	$10.1M-32.3%	$15.0M+0.3%	$14.9M
Total Equity	$49.2M-10.9%	$55.3M-13.1%	$63.6M-46.9%	$119.8M-2.6%	$123.0M-5.3%	$129.9M-5.4%	$137.2M-9.1%	$151.0M
Retained Earnings	-$477.5M-1.6%	-$469.8M-2.1%	-$460.0M-16.7%	-$394.3M-1.2%	-$389.5M-2.1%	-$381.3M-2.4%	-$372.3M-4.4%	-$356.7M

ALDX Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$43.2M-42.5%	-$30.3M+46.5%	-$56.6M-33.1%	-$42.6M-13.5%	-$37.5M+16.7%	-$45.0M
Capital Expenditures	N/A	$0-100.0%	$16K+109.0%	$8K	N/A	$10K
Free Cash Flow	N/A	-$30.3M+46.5%	-$56.7M-33.1%	-$42.6M	N/A	-$45.0M
Investing Cash Flow	-$44.9M-249.7%	$30.0M+200.2%	-$30.0M-383637.3%	-$8K-100.0%	$29.0M+57.1%	$18.5M
Financing Cash Flow	-$171K+86.5%	-$1.3M-204.1%	$1.2M-99.4%	$194.5M+364.2%	$41.9M+77.7%	$23.6M
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	Q2'25	Q1'25	Q4'23	Q3'24	Q2'24	Q1'24	Q4'22
Operating Cash Flow	-$7.0M+17.9%	-$8.6M+31.4%	-$12.5M-2591.7%	$500K+106.2%	-$8.0M+39.9%	-$13.4M-41.4%	-$9.4M+15.9%	-$11.2M
Capital Expenditures	N/A	N/A	N/A	$0	$0	$0	$0	$0
Free Cash Flow	N/A	N/A	N/A	$500K+106.2%	-$8.0M+39.9%	-$13.4M-41.4%	-$9.4M+15.9%	-$11.2M
Investing Cash Flow	$25.0M+4611.6%	-$554K-107.6%	$7.3M	$0	$0	$0-100.0%	$30.0M+11.1%	$27.0M
Financing Cash Flow	$121K	$0-100.0%	$1.0M+199.1%	-$1.0M-220.6%	-$316K-6066.7%	$5K-89.9%	$53K	$0
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

ALDX 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	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	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-53.4%-28.1pp	-25.3%+8.9pp	-34.2%-9.4pp	-24.8%+20.3pp	-45.1%+35.5pp	-80.5%
Current Ratio	5.59-1.0	6.64-5.1	11.78-8.0	19.77+13.1	6.69+0.9	5.82
Debt-to-Equity	0.21+0.2	0.00-0.1	0.10+0.0	0.08-0.1	0.19-0.1	0.30
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q4'23	Q3'24	Q2'24	Q1'24	Q4'22
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	N/A	N/A	N/A	N/A
Return on Assets	-9.9%+1.6pp	-11.5%-0.9pp	-10.7%	N/A	-5.6%+0.2pp	-5.8%+3.5pp	-9.3%	N/A
Current Ratio	2.72-0.1	2.86-3.6	6.49-0.1	6.64-0.2	6.81-3.2	9.96-0.5	10.50-1.3	11.78
Debt-to-Equity	0.000.0	0.00-0.2	0.24+0.2	0.00-0.0	0.02-0.1	0.08-0.0	0.11+0.0	0.10
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 Aldeyra Therapeu profitable?

No, Aldeyra Therapeu (ALDX) reported a net income of -$55.9M in fiscal year 2024.

What is Aldeyra Therapeu's earnings per share (EPS)?

Aldeyra Therapeu (ALDX) reported diluted earnings per share of $-0.94 for fiscal year 2024. This represents a -46.9% 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.

What is Aldeyra Therapeu's EBITDA?

Aldeyra Therapeu (ALDX) had EBITDA of -$59.9M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Aldeyra Therapeu have?

As of fiscal year 2024, Aldeyra Therapeu (ALDX) had $54.5M in cash and equivalents against $15.0M in long-term debt.

What is Aldeyra Therapeu's operating cash flow?

Aldeyra Therapeu (ALDX) generated -$43.2M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Aldeyra Therapeu's total assets?

Aldeyra Therapeu (ALDX) had $104.6M in total assets as of fiscal year 2024, including both current and long-term assets.

How much does Aldeyra Therapeu spend on research and development?

Aldeyra Therapeu (ALDX) invested $48.2M in research and development during fiscal year 2024.

How many shares does Aldeyra Therapeu have outstanding?

Aldeyra Therapeu (ALDX) had 60M shares outstanding as of fiscal year 2024.

What is Aldeyra Therapeu's current ratio?

Aldeyra Therapeu (ALDX) had a current ratio of 5.59 as of fiscal year 2024, which is generally considered healthy.

What is Aldeyra Therapeu's debt-to-equity ratio?

Aldeyra Therapeu (ALDX) had a debt-to-equity ratio of 0.21 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Aldeyra Therapeu's return on assets (ROA)?

Aldeyra Therapeu (ALDX) had a return on assets of -53.4% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Aldeyra Therapeu's cash runway?

Based on fiscal year 2024 data, Aldeyra Therapeu (ALDX) had $54.5M in cash against an annual operating cash burn of $43.2M. This gives an estimated cash runway of approximately 15 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 Aldeyra Therapeu's Piotroski F-Score?

Aldeyra Therapeu (ALDX) 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Aldeyra Therapeu's earnings high quality?

Aldeyra Therapeu (ALDX) has an earnings quality ratio of 0.77x, 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 Aldeyra Therapeu cover its interest payments?

Aldeyra Therapeu (ALDX) has an interest coverage ratio of -31.2x, 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.