Altimmune (ALT) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 9, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 12, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the ALT SEC filings page.
Altimmune (ALT) reported $41K in revenue for fiscal year 2025, up 105.0% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).
Development spending funded externally dominates Altimmune’s model, with negligible revenue and cash needs concentrated in operations rather than fixed assets.
In FY2025, operating cash flow was-$67.5M while the net loss was$88.1M ; the relatively close figures indicate accounting losses are converting into cash use. Capex was only$11K , and the same cash pattern was visible in FY2023, tying cash consumption to ongoing development activity rather than plant expansion.
R&D was
Total assets nearly doubled between FY2024 and FY2025 while financing cash inflow reached
Financial Health Signals
Altimmune does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Altimmune scores 3.89, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($653.6M) relative to total liabilities ($55.0M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Altimmune passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
Altimmune reported a net loss of $88.1M while operations used $67.5M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Altimmune reported an operating loss of $94.5M against $1.6M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Altimmune's EBITDA was -$26.2M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 14.5% from the same quarter a year earlier. Against the prior quarter it is down 8.2%.
Altimmune reported -$22.8M in net income in Q2 2026. This represents a decrease of 3.1% from the same quarter a year earlier. Against the prior quarter it is down 1.2%.
Not reported for Q2 2026.
Cash & Balance Sheet
Altimmune recorded an outflow of $24.3M in free cash flow in Q2 2026, representing a cash shortfall after capex. Against the prior quarter it is down 15.7%.
Altimmune held $63.0M in cash against $34.7M in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Altimmune's ROE was -4.8% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 8.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.1 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Altimmune invested $18.7M in research and development in Q2 2026. This represents an increase of 8.2% from the same quarter a year earlier. Against the prior quarter it is up 15.2%.
Altimmune invested $32K in capex in Q2 2026, funding long-term assets and infrastructure. Against the prior quarter it is up 52.4%.
Not reported for Q2 2026.
ALT Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | $26K+420.0% | $5K0.0% | $5K0.0% | $5K0.0% | $5K-86.5% | $5K-98.6% |
| R&D Expenses | $18.7M+8.2% | $16.2M+2.3% | $18.4M-6.9% | $15.0M-24.5% | $17.2M-18.5% | $15.8M-26.3% | $19.8M+17.0% | $19.8M+7.7% |
| SG&A Expenses | $7.6M+33.1% | $8.1M+34.4% | $10.5M+106.5% | $5.9M+18.8% | $5.7M+1.7% | $6.0M+12.8% | $5.1M+17.5% | $5.0M+10.1% |
| Operating Income | -$26.2M-14.4% | -$24.2M-11.1% | -$28.9M-16.2% | -$20.9M+15.8% | -$22.9M+14.3% | -$21.8M+18.6% | -$24.9M+26.0% | -$24.8M-9.9% |
| EBITDA | -$26.2M-14.5% | -$24.2M-11.2% | -$28.9M-16.2% | -$20.8M+15.8% | -$22.9M+14.2% | -$21.8M+18.4% | -$24.8M | -$24.7M-10.3% |
| Interest Expense | $1.1M+315.5% | $1.1M+106700.0% | $876K+87500.0% | $495K+8150.0% | $264K+26300.0% | $1K0.0% | $1K-50.0% | $6K-79.3% |
| Income Tax | N/A | N/A | N/A | N/A | N/A | -$681K | N/A | $0 |
| Net Income | -$22.8M-3.1% | -$22.6M-15.3% | -$27.4M-18.0% | -$19.0M+16.8% | -$22.1M+10.1% | -$19.6M+19.8% | -$23.2M+26.7% | -$22.8M-10.5% |
| EPS (Basic) | -$0.12+55.6% | -$0.18+30.8% | -$0.26+21.2% | -$0.21+34.4% | -$0.27+22.9% | -$0.26+23.5% | -$0.33+41.1% | -$0.32+17.9% |
| EPS (Diluted) | -$0.12 | -$0.18 | -$0.26+21.2% | -$0.21+34.4% | -$0.27+22.9% | -$0.26+23.5% | -$0.33+41.1% | -$0.32+17.9% |
| Diluted Shares (Avg) | 185M | 124M | N/A | 89M+25.8% | 81M+14.9% | 76M+6.7% | N/A | 71M+32.5% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit.
ALT Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $527.2M+177.0% | $335.6M+113.4% | $279.9M+100.9% | $218.4M+47.7% | $190.3M+9.8% | $157.3M-16.5% | $139.3M-33.9% | $147.9M-11.2% |
| Current Assets | $334.8M+77.7% | $334.7M+115.6% | $278.2M+102.7% | $216.6M+48.6% | $188.4M+10.1% | $155.3M-17.2% | $137.3M-34.5% | $145.8M-4.7% |
| Cash & Equivalents | $63.0M-65.6% | $97.6M+98.8% | $43.8M+18.5% | $61.2M+94.6% | $183.1M+220.5% | $49.1M-37.8% | $36.9M-72.7% | $31.5M-63.8% |
| Short-Term Investments | $263.3M | $233.9M+132.3% | $229.7M+141.9% | $149.5M+38.6% | $0-100.0% | $100.7M-2.3% | $95.0M+51.5% | $107.9M+100.1% |
| Long-Term Investments | $192.2M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $53.0M+82.9% | $51.6M+242.0% | $55.0M+248.4% | $32.8M+126.7% | $29.0M+39.2% | $15.1M-2.1% | $15.8M-4.5% | $14.5M-10.4% |
| Current Liabilities | $12.5M+35.6% | $11.3M+15.6% | $15.0M+43.3% | $12.6M+45.9% | $9.2M-39.2% | $9.8M-13.5% | $10.5M-13.8% | $8.6M-27.2% |
| Non-Current Liabilities | $40.5M+104.9% | $40.3M+660.3% | $40.0M+651.2% | $20.2M+246.0% | $19.8M+249.2% | $5.3M+29.7% | $5.3M+21.2% | $5.8M+35.9% |
| Long-Term Debt | $34.7M+142.4% | $34.5M | $34.3M | $14.4M | $14.3M | N/A | N/A | N/A |
| Total Equity | $474.2M+193.9% | $284.0M+99.8% | $224.9M+82.1% | $185.6M+39.2% | $161.4M+5.8% | $142.2M-17.8% | $123.5M-36.4% | $133.4M-11.3% |
| Retained Earnings | -$694.9M-15.2% | -$672.0M-15.7% | -$649.5M-15.7% | -$622.1M-15.6% | -$603.1M-17.0% | -$581.0M-18.4% | -$561.4M-20.4% | -$538.2M-23.8% |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill.
ALT Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$24.2M-25.2% | -$20.9M-24.4% | -$19.4M-6.5% | -$11.9M+56.1% | -$19.4M-6.9% | -$16.8M-3.0% | -$18.3M-10.5% | -$27.1M-32.4% |
| Depreciation & Amortization | $23K-23.3% | $23K-20.7% | $26K-21.2% | $27K-27.0% | $30K-50.8% | $29K-72.9% | $33K-71.1% | $37K-68.4% |
| Stock-Based Compensation | $2.8M-21.8% | $3.4M-15.9% | N/A | $3.6M+15.5% | $3.6M-17.3% | $4.0M+10.0% | N/A | $3.1M+13.6% |
| Capital Expenditures | $32K | $21K | $1K | $0 | N/A | N/A | N/A | N/A |
| Free Cash Flow | -$24.3M | -$21.0M | -$19.4M | -$11.9M | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$221.4M-319.0% | -$3.7M+27.7% | -$79.2M-680.7% | -$149.3M-12553.8% | $101.1M+2835.6% | -$5.1M+87.1% | $13.6M+271.3% | $1.2M-72.8% |
| Financing Cash Flow | $211.1M+304.0% | $78.5M+130.0% | $81.1M+704.5% | $39.3M+14692.9% | $52.2M+113673.9% | $34.1M+13172.4% | $10.1M-86.1% | $266K-54.8% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
ALT Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | N/A | N/A | -111126.9% | -417180.0% | -458440.0% | -436300.0% | -497320.0% | -495340.0% |
| Net Margin | N/A | N/A | -105223.1% | -380280.0% | -442920.0% | -391500.0% | -463600.0% | -456900.0% |
| Return on Equity | -4.8%+8.9pp | -8.0%+5.8pp | -12.2%+6.6pp | -10.2%+6.9pp | -13.7%+2.4pp | -13.8%+0.3pp | -18.8%-2.5pp | -17.1%-3.4pp |
| Return on Assets | -4.3%+7.3pp | -6.7%+5.7pp | -9.8%+6.9pp | -8.7%+6.8pp | -11.6%+2.6pp | -12.4%+0.5pp | -16.6%-1.6pp | -15.4%-3.0pp |
| Current Ratio | 26.78+6.3x | 29.56+13.7x | 18.55+5.4x | 17.18+0.3x | 20.44+9.1x | 15.85-0.7x | 13.11-4.2x | 16.87+4.0x |
| Debt-to-Equity | 0.070.0x | 0.120.0x | 0.150.0x | 0.080.0x | 0.090.0x | 0.110.0x | 0.130.0x | 0.11+0.1x |
| Asset Turnover | N/A | N/A | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x |
| FCF Margin | N/A | N/A | -74803.9% | -237940.0% | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Gross Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Altimmune ALT | FY2025 | $41K | -$88.1M | N/A | $653.6M | — |
| Tectonic Therapeutic Inc TECX | FY2025 | N/A | N/A | N/A | $601.1M | — |
| Larimar Therapeutics Inc LRMR | FY2025 | N/A | -$165.7M | N/A | $397.9M | — |
| Design Therapeutics, Inc. DSGN | FY2025 | $0 | -$69.8M | N/A | $947.5M | — |
| Ocugen Inc OCGN | FY2025 | $4.4M | -$68.0M | N/A | $461.2M | 42/100 |
| Aldeyra Therapeutics Inc ALDX | FY2025 | N/A | -$33.8M | N/A | $89.3M | — |
Where Altimmune Ranks
Frequently Asked Questions
What is Altimmune's annual revenue?
Altimmune (ALT) reported $41K in total revenue for fiscal year 2025. This represents a 105.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Altimmune's revenue growing?
Altimmune (ALT) revenue grew by 105.0% year-over-year, from $20K to $41K in fiscal year 2025.
Is Altimmune profitable?
No, Altimmune (ALT) reported a net income of -$88.1M in fiscal year 2025.
What is Altimmune's EBITDA?
Altimmune (ALT) had EBITDA of -$94.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Altimmune have?
As of fiscal year 2025, Altimmune (ALT) had $43.8M in cash and equivalents against $34.3M in long-term debt.
What is Altimmune's return on equity (ROE)?
Altimmune (ALT) has a return on equity of -39.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Altimmune's free cash flow?
Altimmune (ALT) recorded an outflow of $67.5M 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 Altimmune's operating cash flow?
Altimmune (ALT) recorded an outflow of $67.5M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Altimmune's total assets?
Altimmune (ALT) had $279.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Altimmune's capital expenditures?
Altimmune (ALT) invested $11K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Altimmune spend on research and development?
Altimmune (ALT) invested $66.4M in research and development during fiscal year 2025.
What is Altimmune's current ratio?
Altimmune (ALT) had a current ratio of 18.55 as of fiscal year 2025, which is generally considered healthy.
What is Altimmune's debt-to-equity ratio?
Altimmune (ALT) 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 Altimmune's return on assets (ROA)?
Altimmune (ALT) had a return on assets of -31.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Altimmune's P/E ratio?
Altimmune (ALT) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $653.6M as of Sep 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Altimmune's price-to-sales ratio?
Altimmune (ALT) has no price-to-sales ratio at the moment: outside the range published as a multiple (on $41K revenue, FY2025). The market capitalization is $653.6M as of Sep 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Altimmune's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Altimmune (ALT) held $273.5M in cash, cash equivalents and investments, and reported an operating cash outflow of $67.5M over that year. Dividing the one by the other, the reported balance equals about 49 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Altimmune's Altman Z-Score?
Altimmune (ALT) has an Altman Z-Score of 3.89, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Altimmune's Piotroski F-Score?
Altimmune (ALT) has a Piotroski F-Score of 4 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 Altimmune's earnings high quality?
Altimmune (ALT) reported a net loss of $88.1M while operations used $67.5M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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 Altimmune cover its interest payments?
Altimmune (ALT) reported an operating loss of $94.5M against $1.6M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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.