What is Athira Pharma, Inc.'s earnings per share (EPS)?

Athira Pharma, Inc. (ATHA) reported diluted earnings per share of $-24.70 for fiscal year 2025. This represents a 1.9% 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.

Athira Pharma, Inc. Financials

ATHA

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

This page shows Athira Pharma, Inc. (ATHA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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 ATHA FY2025 2026-05-07

External financing rather than operations became the main support for cash as liquidity tightened and liabilities expanded in FY2025.

In FY2023-FY2024, operating cash burn roughly matched reported losses, but in FY2025 a net loss of -$105.6M translated into only -$45.7M of operating cash outflow. That break in the usual loss-to-cash pattern, alongside $82.5M of financing inflow, means cash was preserved through non-cash items and outside funding, not through a self-funding operating model.

The expense mix changed sharply: R&D fell to $17.5M and SG&A to $16.7M. With operating loss still near -$102.3M, the reported loss was not coming mainly from the two routine expense lines most readers would watch, implying substantial other operating or accounting charges shaped the year.

The balance sheet became much less forgiving: total liabilities rose from $13.9M in FY2024 to $64.4M in FY2025. Current ratio compressed to 1.9x from 4.2x, so cash of $69.3M remains useful but no longer sits on the wide cushion the company had a year earlier.

Financial Health Signals

Financial Profile 15/100

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 Athira Pharma, 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

Athira Pharma, Inc. has a moderate D/E ratio of 2.32. This balance of debt and equity financing earns a leverage score of 55/100.

Liquidity

Athira Pharma, Inc.'s current ratio of 1.88 indicates adequate short-term liquidity, earning a score of 34/100. The company can meet its near-term obligations, though with limited headroom.

Returns

Athira Pharma, Inc. generates a -381.4% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -216.3% the prior year.

Piotroski F-Score Weak

2/9

Athira Pharma, 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).

Earnings Quality Low Quality

0.43x

For every $1 of reported earnings, Athira Pharma, Inc. generates $0.43 in operating cash flow (-$45.7M OCF vs -$106.0M 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

N/A

EBITDA

-$101.3M

YoY-1.4%

Athira Pharma, Inc.'s EBITDA was -$101.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 1.4% from the prior year.

Net Income

-$106.0M

YoY-9.3%

Athira Pharma, Inc. reported -$106.0M in net income in fiscal year 2025. This represents a decrease of 9.3% from the prior year.

EPS (Diluted)

$-24.70

YoY+1.9%

Athira Pharma, Inc. earned $-24.70 per diluted share (EPS) in fiscal year 2025. This represents an increase of 1.9% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$69.3M

YoY+43.0%

5Y CAGR+2.7%

Athira Pharma, Inc. held $69.3M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

YoY+139.1%

Athira Pharma, Inc. had 9M shares outstanding in fiscal year 2025. This represents an increase of 139.1% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-381.4%

YoY-165.1pp

5Y CAGR-374.1pp

Athira Pharma, Inc.'s ROE was -381.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 165.1 percentage points from the prior year.

Capital Allocation

R&D Spending

$17.5M

YoY-75.2%

5Y CAGR+5.7%

Athira Pharma, Inc. invested $17.5M in research and development in fiscal year 2025. This represents a decrease of 75.2% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

ATHA Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
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	$17.5M-75.2%	$70.7M-24.6%	$93.8M+52.6%	$61.5M+43.6%	$42.8M+222.1%	$13.3M
SG&A Expenses	$16.7M-36.1%	$26.1M-21.7%	$33.3M+2.3%	$32.6M+53.3%	$21.2M+216.4%	$6.7M
Operating Income	-$102.3M-1.4%	-$100.9M+19.6%	-$125.5M-20.6%	-$104.0M-62.5%	-$64.0M-220.2%	-$20.0M
Interest Expense	N/A	N/A	N/A	N/A	$3K-99.2%	$367K
Income Tax	$0	N/A	N/A	N/A	N/A	N/A
Net Income	-$106.0M-9.3%	-$97.0M+17.6%	-$117.7M-23.0%	-$95.6M-74.4%	-$54.9M-174.9%	-$20.0M
EPS (Diluted)	$-24.70+1.9%	$-25.19	$-3.09-22.1%	$-2.53-69.8%	$-1.49	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
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	$11.3M	N/A	$2.8M-22.8%	$3.7M-14.9%	$4.3M	N/A	$17.9M-19.1%	$22.2M
SG&A Expenses	$6.9M	N/A	$4.0M+11.5%	$3.6M-30.6%	$5.2M	N/A	$7.6M+28.9%	$5.9M
Operating Income	-$17.2M	N/A	-$6.9M+5.7%	-$7.3M+23.5%	-$9.5M	N/A	-$29.6M-5.7%	-$28.0M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$32.9M	N/A	-$6.6M+5.1%	-$7.0M+23.8%	-$9.1M	N/A	-$28.7M-7.0%	-$26.9M
EPS (Diluted)	$-1.73	N/A	$-1.68	$-0.18+92.3%	$-2.34	N/A	$-7.46-965.7%	$-0.70

ATHA Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$92.2M+56.8%	$58.8M-63.3%	$160.2M-37.9%	$258.2M-22.2%	$332.0M+18.8%	$279.6M
Current Assets	$89.5M+63.1%	$54.8M-64.6%	$154.7M-25.4%	$207.5M-20.4%	$260.8M+35.6%	$192.3M
Cash & Equivalents	$69.3M+43.0%	$48.4M-46.5%	$90.6M-5.6%	$96.0M-13.2%	$110.5M+82.3%	$60.6M
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	$64.4M+361.8%	$13.9M-53.6%	$30.1M+30.6%	$23.0M+110.7%	$10.9M+106.9%	$5.3M
Current Liabilities	$47.5M+261.7%	$13.1M-54.5%	$28.8M+34.6%	$21.4M+130.6%	$9.3M+110.9%	$4.4M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$27.8M-38.0%	$44.8M-65.6%	$130.2M-44.6%	$235.1M-26.8%	$321.1M+17.1%	$274.3M
Retained Earnings	-$511.8M-26.0%	-$406.1M-31.4%	-$309.2M-61.4%	-$191.5M-99.7%	-$95.9M-133.7%	-$41.0M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$71.6M-22.3%	$92.2M+206.8%	$30.0M-15.5%	$35.5M-18.3%	$43.5M-26.0%	$58.8M-31.8%	$86.2M-22.5%	$111.3M
Current Assets	$69.2M-22.6%	$89.5M+231.0%	$27.0M-16.1%	$32.2M-19.2%	$39.9M-27.3%	$54.8M-33.1%	$82.0M-23.2%	$106.7M
Cash & Equivalents	$32.8M-52.6%	$69.3M+231.9%	$20.9M+5.0%	$19.9M-24.7%	$26.4M-45.5%	$48.4M-29.7%	$68.9M-6.7%	$73.8M
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	$22.3M-65.4%	$64.4M+1882.2%	$3.2M-8.8%	$3.6M-42.4%	$6.2M-55.6%	$13.9M-51.4%	$28.7M+2.7%	$27.9M
Current Liabilities	$6.7M-86.0%	$47.5M+1604.4%	$2.8M-6.5%	$3.0M-45.7%	$5.5M-58.2%	$13.1M-52.7%	$27.8M+3.2%	$26.9M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$49.3M+77.4%	$27.8M+3.7%	$26.8M-16.3%	$32.0M-14.3%	$37.3M-16.8%	$44.8M-22.1%	$57.6M-30.9%	$83.3M
Retained Earnings	-$544.7M-6.4%	-$511.8M-19.3%	-$428.9M-1.6%	-$422.3M-1.7%	-$415.3M-2.3%	-$406.1M-3.8%	-$391.1M-7.9%	-$362.4M

ATHA Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$45.7M+52.9%	-$97.2M+3.6%	-$100.8M-39.0%	-$72.5M-68.1%	-$43.1M-78.7%	-$24.1M
Capital Expenditures	N/A	$33K-89.1%	$304K-73.4%	$1.1M-27.5%	$1.6M-32.2%	$2.3M
Free Cash Flow	N/A	-$97.2M+3.8%	-$101.1M-37.3%	-$73.6M-64.8%	-$44.7M-69.0%	-$26.4M
Investing Cash Flow	-$15.9M-129.0%	$54.8M-42.3%	$95.1M+64.9%	$57.7M+1513.7%	-$4.1M+98.1%	-$210.1M
Financing Cash Flow	$82.5M+42405.7%	$194K-60.6%	$493K-24.6%	$654K-99.3%	$97.1M-66.8%	$292.8M
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	-$20.9M-7.8%	-$19.4M-315.5%	-$4.7M+33.3%	-$7.0M+52.3%	-$14.7M+43.6%	-$26.0M-13.0%	-$23.0M-3.1%	-$22.3M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	$0	$0-100.0%	$28K
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	-$26.0M-13.0%	-$23.0M-3.0%	-$22.4M
Investing Cash Flow	-$15.5M-6.2%	-$14.6M-358.9%	$5.7M+1182.1%	$441K+106.0%	-$7.4M-161.4%	-$2.8M-115.6%	$18.0M-32.1%	$26.6M
Financing Cash Flow	N/A	$82.4M	$0	N/A	N/A	$34K+183.3%	$12K	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

ATHA 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	-381.4%-165.1pp	-216.3%-125.9pp	-90.4%-49.7pp	-40.7%-23.6pp	-17.1%-9.8pp	-7.3%
Return on Assets	-115.0%+50.0pp	-165.0%-91.6pp	-73.4%-36.4pp	-37.0%-20.5pp	-16.5%-9.4pp	-7.1%
Current Ratio	1.88-2.3	4.18-1.2	5.37-4.3	9.68-18.4	28.07-15.6	43.66
Debt-to-Equity	2.32+2.0	0.31+0.1	0.23+0.1	0.10+0.1	0.03+0.0	0.02
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	-66.8%	N/A	-24.7%-2.9pp	-21.8%+2.7pp	-24.5%	N/A	-49.9%-17.7pp	-32.2%
Return on Assets	-46.0%	N/A	-22.0%-2.4pp	-19.6%+1.4pp	-21.0%	N/A	-33.3%-9.2pp	-24.1%
Current Ratio	10.38+8.5	1.88-7.8	9.70-1.1	10.81+3.6	7.26+3.1	4.18+1.2	2.95-1.0	3.97
Debt-to-Equity	0.45-1.9	2.32+2.2	0.120.0	0.11-0.1	0.17-0.1	0.31-0.2	0.50+0.2	0.34
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 Athira Pharma, Inc. profitable?

No, Athira Pharma, Inc. (ATHA) reported a net income of -$106.0M in fiscal year 2025.

What is Athira Pharma, Inc.'s EBITDA?

Athira Pharma, Inc. (ATHA) had EBITDA of -$101.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Athira Pharma, Inc.'s return on equity (ROE)?

Athira Pharma, Inc. (ATHA) has a return on equity of -381.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Athira Pharma, Inc.'s operating cash flow?

Athira Pharma, Inc. (ATHA) generated -$45.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Athira Pharma, Inc.'s total assets?

Athira Pharma, Inc. (ATHA) had $92.2M in total assets as of fiscal year 2025, including both current and long-term assets.

How much does Athira Pharma, Inc. spend on research and development?

Athira Pharma, Inc. (ATHA) invested $17.5M in research and development during fiscal year 2025.

How many shares does Athira Pharma, Inc. have outstanding?

Athira Pharma, Inc. (ATHA) had 9M shares outstanding as of fiscal year 2025.

What is Athira Pharma, Inc.'s current ratio?

Athira Pharma, Inc. (ATHA) had a current ratio of 1.88 as of fiscal year 2025, which is generally considered healthy.

What is Athira Pharma, Inc.'s debt-to-equity ratio?

Athira Pharma, Inc. (ATHA) had a debt-to-equity ratio of 2.32 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Athira Pharma, Inc.'s return on assets (ROA)?

Athira Pharma, Inc. (ATHA) had a return on assets of -115.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Athira Pharma, Inc.'s cash runway?

Based on fiscal year 2025 data, Athira Pharma, Inc. (ATHA) had $69.3M in cash against an annual operating cash burn of $45.7M. This gives an estimated cash runway of approximately 18 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 Athira Pharma, Inc.'s Piotroski F-Score?

Athira Pharma, Inc. (ATHA) 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 Athira Pharma, Inc.'s earnings high quality?

Athira Pharma, Inc. (ATHA) has an earnings quality ratio of 0.43x, 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 Athira Pharma, Inc.?

Athira Pharma, Inc. (ATHA) scores 15 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.