Azitra Inc (AZTR) 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 Oct 14, 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 AZTR SEC filings page.
Azitra Inc (AZTR) reported $0 in revenue for fiscal year 2025, down 100.0% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 4 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).
Azitra operates as a development-stage company: research spending exceeds revenue, while recurring losses are funded mainly through financing.
R&D was 5.3x revenue in FY2023 and 629.8x in FY2024, so reported sales are not yet the scale driver; development spending sets the economics.
Cash conversion is weak but transparent: FY2024 net loss of
Financing cash inflow of
Financial Health Signals
Azitra Inc 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.
Azitra Inc scores -23.70, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($4.3M) relative to total liabilities ($1.2M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Azitra Inc passes 0 of 7 computable financial strength tests (2 of the nine could not be computed from available data). No profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
Azitra Inc reported a net loss of $11.0M while operations used $11.2M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Azitra Inc reported an operating loss of $11.0M against $8K 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
Azitra Inc's EBITDA was -$3.3M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 19.7% from the same quarter a year earlier. Against the prior quarter it is up 15.2%.
Azitra Inc reported -$3.3M in net income in Q2 2026. This represents a decrease of 15.9% from the same quarter a year earlier. Against the prior quarter it is up 14.8%.
Not reported for Q2 2026.
Cash & Balance Sheet
Azitra Inc recorded an outflow of $3.3M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 17.8% from the same quarter a year earlier. Against the prior quarter it is down 33.7%.
Azitra Inc held $6.7M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
Azitra Inc's ROE was -45.6% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 84.0 percentage points from the same quarter a year earlier. Against the prior quarter it is down 8.2 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Azitra Inc invested $1.4M in research and development in Q2 2026. This represents a decrease of 3.6% from the same quarter a year earlier. Against the prior quarter it is down 13.4%.
Azitra Inc invested $40K in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 245.3% from the same quarter a year earlier. Against the prior quarter it is up 168.3%.
Not reported for Q2 2026.
AZTR 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 | N/A | $0 | $0-100.0% | N/A | N/A | $0-100.0% |
| R&D Expenses | $1.4M-3.6% | $1.6M+24.8% | N/A | $1.2M+16.2% | $1.4M+25.3% | $1.3M-15.1% | N/A | $1.0M+85.2% |
| SG&A Expenses | $2.1M+40.7% | $2.4M+28.3% | N/A | $1.6M-17.0% | $1.5M-5.1% | $1.9M+24.3% | N/A | $1.9M+9.0% |
| Operating Income | -$3.4M-19.1% | -$3.9M-26.9% | N/A | -$2.8M+5.5% | -$2.9M-7.9% | -$3.1M-4.7% | N/A | -$2.9M-46.9% |
| EBITDA | -$3.3M-19.7% | -$3.9M-27.1% | N/A | -$2.7M+6.0% | -$2.8M-8.4% | -$3.1M-4.7% | N/A | -$2.8M-50.2% |
| Interest Expense | $1K+191.7% | $3K+163.8% | N/A | $372-90.3% | $468-73.7% | $1K+41.3% | N/A | $4K+442.4% |
| Income Tax | $0 | $0 | N/A | $0 | $0 | $0 | N/A | $0 |
| Net Income | -$3.3M-15.9% | -$3.9M-28.0% | N/A | -$2.8M-173.9% | -$2.9M-9.8% | -$3.1M-4.6% | N/A | -$1.0M+48.1% |
| EPS (Basic) | -$0.17+85.6% | -$0.25+83.9% | $0.81+200.0% | -$0.67+41.2% | -$1.18+56.9% | -$1.55+64.1% | $0.27-93.3% | -$1.14+76.3% |
| EPS (Diluted) | -$0.17 | -$0.25 | $0.81+200.0% | -$0.67 | -$1.18 | -$1.55 | $0.27 | -$1.14 |
| Diluted Shares (Avg) | 19M | 16M | N/A | 4M | 2M | 2M | N/A | 883,865 |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit.
AZTR 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 | $8.9M+125.4% | $12.1M+105.3% | $5.0M-31.7% | $4.3M-56.0% | $4.0M+1.9% | $5.9M-2.6% | $7.4M+43.9% | $9.8M+30.5% |
| Current Assets | $7.4M+313.6% | $10.8M+177.9% | $3.0M-42.3% | $2.2M-70.8% | $1.8M+34.7% | $3.9M+9.8% | $5.2M+106.2% | $7.6M+57.0% |
| Cash & Equivalents | $6.7M+543.4% | $10.1M+213.4% | $2.1M-54.6% | $1.4M-80.7% | $1.0M+30.2% | $3.2M+6.8% | $4.6M+153.6% | $7.3M+65.0% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Receivable | $909 | $5K | $912+291.4% | $0 | $0 | $0 | $233 | N/A |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $1.6M-8.4% | $1.6M+9.7% | $1.2M-26.3% | $2.0M+17.6% | $1.7M-19.9% | $1.5M-14.0% | $1.7M-24.6% | $1.7M-20.3% |
| Current Liabilities | $1.5M+5.4% | $1.5M+21.0% | $1.1M-22.4% | $1.8M+32.0% | $1.5M-16.5% | $1.3M+1.8% | $1.4M-14.2% | $1.4M-5.9% |
| Non-Current Liabilities | $51K-81.4% | $97K-56.0% | $156K-45.1% | $215K-38.8% | $275K-34.2% | $220K-54.8% | $285K-52.5% | $351K-50.1% |
| Total Equity | $7.3M+229.0% | $10.5M+137.8% | $3.8M-33.3% | $2.3M-71.7% | $2.2M+29.1% | $4.4M+1.9% | $5.7M+95.6% | $8.1M+51.1% |
| Retained Earnings | -$75.8M-19.3% | -$72.4M-19.5% | -$68.5M-19.0% | -$66.3M-20.1% | -$63.5M-17.3% | -$60.6M-17.7% | -$57.6M-18.5% | -$55.2M-19.6% |
Not reported in any period shown, so not listed: Inventory, Goodwill, Long-Term Debt.
AZTR 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 | -$3.3M-16.9% | -$2.5M+19.4% | -$2.9M-11.8% | -$2.4M+1.2% | -$2.8M-33.9% | -$3.1M-1.7% | -$2.6M-1.9% | -$2.5M-38.2% |
| Depreciation & Amortization | $114K+2.7% | $38K+10.7% | $35K+5.3% | $112K+8.1% | $111K-2.9% | $34K+5.0% | $33K+3.0% | $104K-7.9% |
| Stock-Based Compensation | $11K-28.9% | $6K-79.8% | N/A | $4K-97.1% | $16K-53.1% | $30K-11.0% | N/A | $144K+267.3% |
| Capital Expenditures | $40K+245.3% | $15K | $9K | $3K-60.8% | $12K | $0 | $0-100.0% | $9K+61.6% |
| Free Cash Flow | -$3.3M-17.8% | -$2.5M+18.9% | -$2.9M-12.2% | -$2.4M+1.5% | -$2.8M-34.5% | -$3.1M-1.7% | -$2.6M-1.7% | -$2.5M-38.2% |
| Investing Cash Flow | -$118K-223.9% | -$37K-71.3% | -$84K+27.4% | -$41K+61.9% | -$36K+51.5% | -$22K+73.3% | -$116K-92.6% | -$108K-12.2% |
| Financing Cash Flow | $85K-87.6% | $10.5M+501.4% | $3.6M+96416.1% | $2.8M-68.6% | $690K+3328.8% | $1.7M-59.5% | -$4K+26.5% | $9.0M+402621.1% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
AZTR 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 |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | -45.6%+84.0pp | -37.5%+32.1pp | N/A | -121.3%-108.8pp | -129.6%+22.9pp | -69.6%-1.8pp | N/A | -12.5%+23.9pp |
| Return on Assets | -37.5%+35.5pp | -32.4%+19.6pp | N/A | -64.3%-54.0pp | -73.0%-5.2pp | -51.9%-3.6pp | N/A | -10.3%+15.6pp |
| Current Ratio | 4.86+3.6x | 6.94+3.9x | 2.83-1.0x | 1.23-4.3x | 1.24+0.5x | 3.02+0.2x | 3.80+2.2x | 5.58+2.2x |
| Debt-to-Equity | 0.22-0.6x | 0.16-0.2x | 0.320.0x | 0.89+0.7x | 0.77-0.5x | 0.34-0.1x | 0.29-0.5x | 0.21-0.2x |
| Asset Turnover | N/A | N/A | N/A | 0.000.0x | 0.000.0x | N/A | N/A | 0.000.0x |
Not reported in any period shown, so not listed: Gross Margin, 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 |
|---|---|---|---|---|---|---|
| Azitra Inc AZTR | FY2025 | $0 | -$11.0M | N/A | $4.3M | — |
| Quoin Pharmaceuticals, Ltd. QNRX | FY2025 | N/A | -$15.8M | N/A | $8.2M | — |
| XORTX Therapeutics Inc. XRTX | FY2025 | N/A | -$2.7M | N/A | $2.8M | — |
| Aptevo Therapeutics Inc APVO | FY2025 | N/A | -$26.0M | N/A | $3.1M | — |
| Xenetic Biosciences, Inc. XBIO | FY2025 | $3.0M | -$2.7M | -90.1% | $4.9M | 66/100 |
| Jaguar Health, Inc. JAGX | FY2025 | $11.5M | -$54K | -0.5% | $8.1M | 33/100 |
Where Azitra Inc Ranks
Frequently Asked Questions
What is Azitra Inc's annual revenue?
Azitra Inc (AZTR) reported $0 in total revenue for fiscal year 2025. This represents a -100.0% 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 Azitra Inc's revenue growing?
Azitra Inc (AZTR) revenue declined by 100.0% year-over-year, from $8K to $0 in fiscal year 2025.
Is Azitra Inc profitable?
No, Azitra Inc (AZTR) reported a net income of -$11.0M in fiscal year 2025.
What is Azitra Inc's EBITDA?
Azitra Inc (AZTR) had EBITDA of -$10.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Azitra Inc's return on equity (ROE)?
Azitra Inc (AZTR) has a return on equity of -288.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Azitra Inc's free cash flow?
Azitra Inc (AZTR) recorded an outflow of $11.2M in free cash flow during fiscal year 2025. This represents a -10.4% 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 Azitra Inc's operating cash flow?
Azitra Inc (AZTR) recorded an outflow of $11.2M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Azitra Inc's total assets?
Azitra Inc (AZTR) had $5.0M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Azitra Inc's capital expenditures?
Azitra Inc (AZTR) invested $24K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Azitra Inc spend on research and development?
Azitra Inc (AZTR) invested $4.8M in research and development during fiscal year 2025.
What is Azitra Inc's current ratio?
Azitra Inc (AZTR) had a current ratio of 2.83 as of fiscal year 2025, which is generally considered healthy.
What is Azitra Inc's debt-to-equity ratio?
Azitra Inc (AZTR) had a debt-to-equity ratio of 0.32 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Azitra Inc's return on assets (ROA)?
Azitra Inc (AZTR) had a return on assets of -218.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Azitra Inc's P/E ratio?
Azitra Inc (AZTR) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $4.3M as of Oct 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Azitra Inc's price-to-sales ratio?
Azitra Inc (AZTR) has no price-to-sales ratio at the moment: revenue is not positive (FY2025). The market capitalization is $4.3M as of Oct 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Azitra Inc's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Azitra Inc (AZTR) held $2.1M in cash, cash equivalents and investments, and reported an operating cash outflow of $11.2M over that year. Dividing the one by the other, the reported balance equals about 2 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 Azitra Inc's Altman Z-Score?
Azitra Inc (AZTR) has an Altman Z-Score of -23.70, placing it in the Distress Zone (elevated 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 Azitra Inc's Piotroski F-Score?
Azitra Inc (AZTR) has a Piotroski F-Score of 0 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 Azitra Inc's earnings high quality?
Azitra Inc (AZTR) reported a net loss of $11.0M while operations used $11.2M 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 Azitra Inc cover its interest payments?
Azitra Inc (AZTR) reported an operating loss of $11.0M against $8K 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.