What is Annovis Bio Inc's earnings per share (EPS)?

Annovis Bio Inc (ANVS) reported diluted earnings per share of $-1.40 for fiscal year 2025. This represents a 39.4% 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.

Annovis Bio Inc Financials

ANVS

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

This page shows Annovis Bio Inc (ANVS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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 ANVS FY2025 2026-05-15

Annovis remains a cash-burning development-stage business whose research spending is sustained mainly through new equity issuance instead of commercial revenue.

Cash was rebuilt from financing, not operations: in FY2025, financing inflow of $34.6M exceeded operating cash burn of $25.6M, so the year-end cash balance reflects access to capital more than a self-funding operating engine. Dilution, rather than borrowing, remains the main funding tool, as shares outstanding jumped from 14.1M to 27.2M in FY2025 while debt stayed minimal.

Liquidity exists, but it is not internally generated: year-end cash of $19.5M was smaller than FY2025 operating cash burn of $25.6M, so the company held less than one recent year's worth of burn on hand. That makes capital raising part of the operating model, even though the balance sheet itself is not heavily levered, because recent spending still outruns cash already on the books.

Cost swings are driven mainly by development activity: FY2025 SG&A fell to $4.5M from $6.7M, but the operating loss still widened. R&D rose to $25.2M from $20.0M, showing that overhead cuts do less to change results than shifts in the research program do; that is the pattern of a program-led cost base.

Financial Health Signals

Financial Profile 24/100

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 Annovis Bio 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

Annovis Bio Inc carries a low D/E ratio of 0.25, meaning only $0.25 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 97/100, indicating a strong balance sheet with room for future borrowing.

Returns

Annovis Bio Inc generates a -171.2% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -264.2% the prior year.

Piotroski F-Score Weak

2/9

Annovis Bio Inc 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), neither operating efficiency signal passes.

Earnings Quality Low Quality

0.89x

For every $1 of reported earnings, Annovis Bio Inc generates $0.89 in operating cash flow (-$25.6M OCF vs -$28.9M 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

Annovis Bio Inc generated $0 in revenue in fiscal year 2025.

EBITDA

N/A

Net Income

-$28.9M

YoY-17.3%

Annovis Bio Inc reported -$28.9M in net income in fiscal year 2025. This represents a decrease of 17.3% from the prior year.

EPS (Diluted)

$-1.40

YoY+39.4%

Annovis Bio Inc earned $-1.40 per diluted share (EPS) in fiscal year 2025. This represents an increase of 39.4% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$19.5M

YoY+85.1%

5Y CAGR+19.3%

Annovis Bio Inc held $19.5M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

27M

YoY+92.3%

5Y CAGR+31.6%

Annovis Bio Inc had 27M shares outstanding in fiscal year 2025. This represents an increase of 92.3% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-171.2%

YoY+93.0pp

5Y CAGR-98.8pp

Annovis Bio Inc's ROE was -171.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 93.0 percentage points from the prior year.

Capital Allocation

R&D Spending

$25.2M

YoY+26.1%

5Y CAGR+52.5%

Annovis Bio Inc invested $25.2M in research and development in fiscal year 2025. This represents an increase of 26.1% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

ANVS Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$0	$0	$0	$0	$0	$0
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	$25.2M+26.1%	$20.0M-48.5%	$38.8M+134.9%	$16.5M+94.8%	$8.5M+177.6%	$3.1M
SG&A Expenses	$4.5M-33.1%	$6.7M+7.3%	$6.2M-30.6%	$9.0M+48.5%	$6.1M+68.9%	$3.6M
Operating Income	-$29.7M-11.2%	-$26.7M+40.7%	-$45.0M-76.5%	-$25.5M-75.5%	-$14.5M-118.9%	-$6.6M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$0	N/A	N/A	N/A	N/A	$0
Net Income	-$28.9M-17.3%	-$24.6M	N/A	-$25.3M-74.8%	-$14.5M-165.2%	-$5.5M
EPS (Diluted)	$-1.40+39.4%	$-2.31+62.9%	$-6.23-101.0%	$-3.10-63.2%	$-1.90-118.4%	$-0.87

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$0	N/A	N/A	N/A	$0	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	$16.7M	N/A	$6.3M+21.9%	$5.2M+3.0%	$5.0M	N/A	$2.7M-53.5%	$5.8M
SG&A Expenses	$1.3M	N/A	$1.1M+3.1%	$1.1M-12.7%	$1.3M	N/A	$1.7M-14.1%	$2.0M
Operating Income	-$18.0M	N/A	-$7.4M-18.6%	-$6.3M+0.2%	-$6.3M	N/A	-$4.4M+43.5%	-$7.8M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$0	N/A	$0	$0	$0	N/A	$0	$0
Net Income	-$17.6M	N/A	-$7.3M-16.8%	-$6.2M-12.3%	-$5.5M	N/A	-$12.6M-151.7%	-$5.0M
EPS (Diluted)	$-0.63	N/A	$-0.37-15.6%	$-0.320.0%	$-0.32	N/A	$-0.97-120.5%	$-0.44

ANVS Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$21.1M+51.4%	$13.9M+36.4%	$10.2M-71.7%	$36.0M-21.7%	$46.0M+466.6%	$8.1M
Current Assets	N/A	N/A	$10.2M-71.7%	$36.0M-21.7%	$46.0M+466.6%	$8.1M
Cash & Equivalents	$19.5M+85.1%	$10.6M+83.4%	$5.8M-79.7%	$28.4M-37.9%	$45.7M+465.8%	$8.1M
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	$4.2M-8.4%	$4.6M-74.3%	$18.0M+133.3%	$7.7M+411.0%	$1.5M+160.5%	$578K
Current Liabilities	$3.6M-6.3%	$3.9M-9.3%	$4.3M-44.4%	$7.7M+411.0%	$1.5M+160.5%	$578K
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$16.9M+81.0%	$9.3M+220.1%	-$7.8M-127.4%	$28.3M-36.3%	$44.5M+490.0%	$7.5M
Retained Earnings	-$163.7M-21.4%	-$134.8M-22.3%	-$110.3M-104.0%	-$54.1M-88.2%	-$28.7M-101.7%	-$14.2M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$16.2M-22.9%	$21.1M+22.6%	$17.2M-19.9%	$21.5M-19.8%	$26.7M+92.0%	$13.9M-3.0%	$14.4M+184.6%	$5.0M
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$14.2M-27.2%	$19.5M+27.8%	$15.3M-10.8%	$17.1M-23.0%	$22.2M+110.7%	$10.6M-16.5%	$12.6M+216.1%	$4.0M
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	$13.1M+210.1%	$4.2M+4.9%	$4.0M+29.1%	$3.1M+16.4%	$2.7M-41.9%	$4.6M-36.7%	$7.3M+7.4%	$6.8M
Current Liabilities	$12.8M+251.8%	$3.6M-2.6%	$3.7M+33.1%	$2.8M+12.0%	$2.5M-35.5%	$3.9M-28.0%	$5.4M+32.9%	$4.1M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$3.1M-81.4%	$16.9M+28.1%	$13.2M-28.2%	$18.3M-23.8%	$24.1M+158.4%	$9.3M+31.8%	$7.1M+503.4%	-$1.8M
Retained Earnings	-$181.3M-10.8%	-$163.7M-6.4%	-$153.9M-5.0%	-$146.6M-4.4%	-$140.4M-4.1%	-$134.8M-4.5%	-$129.0M-10.9%	-$116.3M

ANVS Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$25.6M-17.0%	-$21.9M+45.2%	-$40.0M-130.9%	-$17.3M-89.6%	-$9.1M-130.0%	-$4.0M
Capital Expenditures	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
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	$34.6M+29.6%	$26.7M+53.9%	$17.3M+375888.1%	$5K-100.0%	$46.7M+288.1%	$12.0M
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	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$9.0M-0.9%	-$8.9M-156.0%	-$3.5M+31.7%	-$5.1M+37.0%	-$8.1M+2.2%	-$8.3M-158.8%	-$3.2M+5.2%	-$3.4M
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	$3.7M-71.9%	$13.2M+701.4%	$1.6M	$0-100.0%	$19.8M+219.1%	$6.2M-47.6%	$11.8M+179.5%	$4.2M
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

ANVS Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
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	-171.2%+93.0pp	-264.2%	N/A	-89.4%-56.9pp	-32.6%+39.9pp	-72.4%
Return on Assets	-136.9%+39.7pp	-176.6%	N/A	-70.3%-38.8pp	-31.5%+35.8pp	-67.3%
Current Ratio	N/A	N/A	2.39-2.3	4.68-25.9	30.54+16.5	14.04
Debt-to-Equity	0.25-0.2	0.50+2.8	-2.32-2.6	0.27+0.2	0.03-0.0	0.08
FCF Margin	N/A	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	-563.2%	N/A	-55.2%-21.3pp	-33.9%-10.9pp	-23.0%	N/A	-178.9%	N/A
Return on Assets	-108.4%	N/A	-42.3%-13.3pp	-29.0%-8.3pp	-20.7%	N/A	-88.0%+11.5pp	-99.5%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	4.20+3.9	0.25-0.1	0.31+0.1	0.17+0.1	0.11-0.4	0.50-0.5	1.03+4.9	-3.88
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

What is Annovis Bio Inc's annual revenue?

Annovis Bio Inc (ANVS) reported $0 in total revenue for fiscal year 2025. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Is Annovis Bio Inc profitable?

No, Annovis Bio Inc (ANVS) reported a net income of -$28.9M in fiscal year 2025.

What is Annovis Bio Inc's return on equity (ROE)?

Annovis Bio Inc (ANVS) has a return on equity of -171.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Annovis Bio Inc's operating cash flow?

Annovis Bio Inc (ANVS) generated -$25.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Annovis Bio Inc's total assets?

Annovis Bio Inc (ANVS) had $21.1M in total assets as of fiscal year 2025, including both current and long-term assets.

How much does Annovis Bio Inc spend on research and development?

Annovis Bio Inc (ANVS) invested $25.2M in research and development during fiscal year 2025.

How many shares does Annovis Bio Inc have outstanding?

Annovis Bio Inc (ANVS) had 27M shares outstanding as of fiscal year 2025.

What is Annovis Bio Inc's debt-to-equity ratio?

Annovis Bio Inc (ANVS) had a debt-to-equity ratio of 0.25 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Annovis Bio Inc's return on assets (ROA)?

Annovis Bio Inc (ANVS) had a return on assets of -136.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Annovis Bio Inc's cash runway?

Based on fiscal year 2025 data, Annovis Bio Inc (ANVS) had $19.5M in cash against an annual operating cash burn of $25.6M. This gives an estimated cash runway of approximately 9 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 Annovis Bio Inc's Piotroski F-Score?

Annovis Bio Inc (ANVS) 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Annovis Bio Inc's earnings high quality?

Annovis Bio Inc (ANVS) has an earnings quality ratio of 0.89x, 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 Annovis Bio Inc?

Annovis Bio Inc (ANVS) scores 24 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.