Armata Pharmctcl (ARMP) 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 10, 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 ARMP SEC filings page.
This page shows Armata Pharmctcl (ARMP) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 13 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).
Armata's operating model consumes cash, while financing inflows—not operations—have repeatedly supplied the funding.
Across FY2021–FY2025, operating cash flow remained negative while financing cash flow remained positive, indicating that reported activity was funded externally rather than self-financed. In FY2025, net loss of-$173.8M was far larger than operating loss of-$36.6M , meaning items outside operating profit substantially shaped the reported result.
Equity moved from positive
Operating cash flow was negative in every reported year, and FY2025's operating cash outflow of
Financial Health Signals
Armata Pharmctcl 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.
Armata Pharmctcl passes 2 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.
Armata Pharmctcl reported a net loss of $173.8M while operations used $25.8M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Armata Pharmctcl's EBITDA was -$9.8M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 49.9% from the same quarter a year earlier. Against the prior quarter it is down 17.8%.
Armata Pharmctcl reported $74.1M in net income in Q2 2026. This represents an increase of 555.0% from the same quarter a year earlier. Against the prior quarter it is up 164.3%.
Armata Pharmctcl earned -$0.27 per diluted share (EPS) in Q2 2026. This represents an increase of 40.0% from the same quarter a year earlier.
Not reported for Q2 2026.
Cash & Balance Sheet
Armata Pharmctcl recorded an outflow of $8.7M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 18.0% from the same quarter a year earlier. Against the prior quarter it is down 48.6%.
Armata Pharmctcl held $24.0M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
None of these metrics is reported for Q2 2026.
Capital Allocation
Armata Pharmctcl invested $7.6M in research and development in Q2 2026. This represents an increase of 18.6% from the same quarter a year earlier. Against the prior quarter it is up 24.1%.
Armata Pharmctcl invested $17K in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 88.6% from the same quarter a year earlier. Against the prior quarter it is down 73.0%.
Not reported for Q2 2026.
ARMP 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 |
|---|---|---|---|---|---|---|---|---|
| R&D Expenses | $7.6M+18.6% | $6.1M+12.6% | N/A | $5.8M-38.6% | $6.4M-24.6% | $5.4M-32.3% | N/A | $9.5M+18.9% |
| SG&A Expenses | $5.2M+99.9% | $3.5M+6.5% | N/A | $3.1M-4.1% | $2.6M-23.8% | $3.3M+2.4% | N/A | $3.2M-9.5% |
| Operating Income | -$10.3M-50.7% | -$8.8M-7.3% | N/A | -$7.8M+20.3% | -$6.8M+42.6% | -$8.2M+19.9% | N/A | -$9.8M+5.6% |
| EBITDA | -$9.8M-49.9% | -$8.3M-6.6% | N/A | -$7.4M+22.0% | -$6.5M+43.7% | -$7.8M+21.2% | N/A | -$9.5M+6.7% |
| Income Tax | N/A | $0 | N/A | $0 | N/A | $0 | N/A | $0 |
| Net Income | $74.1M+555.0% | -$115.3M-1666.1% | N/A | -$26.7M-386.7% | -$16.3M-281.3% | -$6.5M+73.9% | N/A | -$5.5M+82.4% |
| EPS (Basic) | $2.02+548.9% | -$3.16-1655.6% | -$3.43-4387.5% | -$0.74-393.3% | -$0.45-280.0% | -$0.18+73.9% | $0.08+114.5% | -$0.15+82.6% |
| EPS (Diluted) | -$0.27+40.0% | -$3.16 | -$3.43-1082.8% | -$0.74-393.3% | -$0.45-80.0% | -$0.20+71.0% | -$0.29+47.3% | -$0.15+82.6% |
| Diluted Shares (Avg) | 62M+71.4% | 37M | N/A | 36M+0.1% | 36M-37.9% | 59M+64.6% | N/A | 36M+0.3% |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Interest Expense.
ARMP 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 | $90.0M+11.3% | $69.8M-20.0% | $76.9M-11.1% | $89.5M-8.9% | $80.8M-25.4% | $87.3M-27.5% | $86.4M-12.1% | $98.2M-12.9% |
| Current Assets | $27.2M+261.1% | $5.9M-54.8% | $10.7M-5.7% | $16.9M-24.4% | $7.5M-75.7% | $13.2M-68.4% | $11.3M-41.0% | $22.4M-38.8% |
| Cash & Equivalents | $24.0M+453.4% | $4.8M-59.3% | $8.7M-6.5% | $14.8M-13.9% | $4.3M-83.6% | $11.7M-69.1% | $9.3M-31.3% | $17.1M-28.5% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $3.5M0.0% | $3.5M0.0% | $3.5M0.0% | $3.5M0.0% | $3.5M0.0% | $3.5M0.0% | $3.5M0.0% | $3.5M0.0% |
| Total Liabilities | $321.1M+113.7% | $381.4M+170.4% | $295.5M+119.8% | $185.1M+24.1% | $150.3M-2.7% | $141.0M-20.3% | $134.5M+3.1% | $149.2M+19.2% |
| Current Liabilities | $250.2M+108.4% | $9.2M-91.7% | $8.9M-81.5% | $139.9M+18.4% | $120.1M-2.5% | $110.5M+0.4% | $48.2M+193.1% | $118.2M+440.1% |
| Non-Current Liabilities | $70.9M+134.8% | $372.2M+1120.5% | $286.5M+232.4% | $45.2M+45.6% | $30.2M-3.3% | $30.5M-54.4% | $86.2M-24.4% | $31.0M-70.0% |
| Total Equity | -$231.2M-232.6% | -$311.6M-479.3% | -$218.6M-355.2% | -$95.6M-87.5% | -$69.5M-50.8% | -$53.8M+4.8% | -$48.0M-49.8% | -$51.0M-311.5% |
| Retained Earnings | -$542.7M-54.8% | -$616.9M-84.5% | -$501.5M-53.0% | -$377.2M-14.2% | -$350.6M-7.9% | -$334.3M-0.1% | -$327.7M-6.1% | -$330.3M-14.3% |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Long-Term Debt.
ARMP 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 | -$8.7M-20.2% | -$5.8M+23.7% | -$6.7M+15.8% | -$4.3M+51.5% | -$7.2M+29.1% | -$7.6M+28.4% | -$7.9M+2.2% | -$8.9M+8.5% |
| Depreciation & Amortization | $500K+66.7% | $457K+21.2% | N/A | $400K+33.3% | $300K0.0% | $377K+18.9% | $380K+29.7% | $300K+50.0% |
| Stock-Based Compensation | $3.4M+489.7% | $1.1M+37.6% | N/A | $622K-7.2% | $575K-56.9% | $781K+46.3% | N/A | $670K+279.6% |
| Capital Expenditures | $17K-88.6% | $63K-36.4% | $52K-32.5% | $242K-28.8% | $149K-89.1% | $99K-60.4% | -$77K-96.8% | $340K-90.3% |
| Free Cash Flow | -$8.7M-18.0% | -$5.8M+23.9% | -$6.7M+16.0% | -$4.5M+50.7% | -$7.4M+36.2% | -$7.7M+29.1% | -$8.0M+23.8% | -$9.2M+30.3% |
| Investing Cash Flow | -$17K+88.6% | -$63K+36.4% | -$52K-167.5% | -$242K+28.8% | -$149K+89.1% | -$99K+60.4% | $77K+103.2% | -$340K+90.3% |
| Financing Cash Flow | $27.9M | $641K-93.6% | $658K | $15.0M+24637.7% | $0-100.0% | $10.0M-71.4% | $0+100.0% | -$61K-100.2% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
ARMP 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.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Debt-to-Equity, Asset Turnover, FCF Margin.
Note: Shareholder equity is negative (-$218.6M), 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.
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 |
|---|---|---|---|---|---|---|
| Armata Pharmctcl ARMP | FY2025 | N/A | -$173.8M | N/A | $201.2M | — |
| Adagene Inc. ADAG | FY2025 | $7.7M | -$17.6M | N/A | $234.3M | 62/100 |
| Spero Therapeuti SPRO | FY2025 | $66.8M | $8.6M | 12.8% | $69.3M | 65/100 |
| HilleVax, Inc. HLVX | FY2024 | N/A | -$147.3M | N/A | $104.8M | — |
| Equillium EQ | FY2025 | N/A | -$22.4M | N/A | $152.8M | — |
| Fate Therapeutic FATE | FY2025 | $6.6M | -$136.3M | N/A | $299.6M | 53/100 |
Where Armata Pharmctcl Ranks
Frequently Asked Questions
Is Armata Pharmctcl profitable?
No, Armata Pharmctcl (ARMP) reported a net income of -$173.8M in fiscal year 2025.
What is Armata Pharmctcl's EBITDA?
Armata Pharmctcl (ARMP) had EBITDA of -$35.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Armata Pharmctcl's free cash flow?
Armata Pharmctcl (ARMP) recorded an outflow of $26.3M in free cash flow during fiscal year 2025. This represents a 33.3% change compared to the previous fiscal year. 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 Armata Pharmctcl's operating cash flow?
Armata Pharmctcl (ARMP) recorded an outflow of $25.8M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Armata Pharmctcl's total assets?
Armata Pharmctcl (ARMP) had $76.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Armata Pharmctcl's capital expenditures?
Armata Pharmctcl (ARMP) invested $542K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Armata Pharmctcl spend on research and development?
Armata Pharmctcl (ARMP) invested $23.7M in research and development during fiscal year 2025.
What is Armata Pharmctcl's current ratio?
Armata Pharmctcl (ARMP) had a current ratio of 1.19 as of fiscal year 2025, which is considered adequate.
What is Armata Pharmctcl's return on assets (ROA)?
Armata Pharmctcl (ARMP) had a return on assets of -226.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Armata Pharmctcl's P/E ratio?
Armata Pharmctcl (ARMP) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $201.2M as of Sep 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Armata Pharmctcl's price-to-sales ratio?
Armata Pharmctcl (ARMP) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $201.2M as of Sep 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Armata Pharmctcl's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Armata Pharmctcl (ARMP) held $8.7M in cash, cash equivalents and investments, and reported an operating cash outflow of $25.8M over that year. Dividing the one by the other, the reported balance equals about 4 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.
Why is Armata Pharmctcl's debt-to-equity ratio negative or not reported?
Armata Pharmctcl (ARMP) has negative shareholder equity of -$218.6M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. 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.
What is Armata Pharmctcl's Piotroski F-Score?
Armata Pharmctcl (ARMP) has a Piotroski F-Score of 2 out of 6 computable signals; 3 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 Armata Pharmctcl's earnings high quality?
Armata Pharmctcl (ARMP) reported a net loss of $173.8M while operations used $25.8M 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.