Azitra Inc Financials
This page shows Azitra Inc (AZTR) financial statements, including the 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 remains a cash-funded development company, with equity financing rather than revenue determining how long operations can run.
From FY2023 to FY2024, operating cash burn worsened from-$7.4M to-$10.2M , showing that spending intensified even before customer activity became meaningful. Yet liquidity improved on paper to a 3.8x current ratio with only$1.7M of liabilities, which tells you the balance sheet was being supported by financing rather than by the business funding itself.
Balance-sheet repair from negative equity in FY2022 to positive equity in FY2023 did not come from operations, because annual losses still stayed above
The near-match between free cash flow and operating cash flow in FY2024 shows a low-capex model; capital spending was only
Financial Health Signals
We are recalculating Azitra Inc's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.
Azitra Inc scores -24.79, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($2.1M) 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.
For every $1 of reported earnings, Azitra Inc generates $1.02 in operating cash flow (-$11.2M OCF vs -$11.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Azitra Inc earns $-1445.5 in operating income for every $1 of interest expense (-$11.0M vs $8K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Azitra Inc generated $0 in revenue in fiscal year 2025. This represents a decrease of 100.0% from the prior year.
Azitra Inc's EBITDA was -$10.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 0.2% from the prior year.
Azitra Inc reported -$11.0M in net income in fiscal year 2025. This represents a decrease of 22.2% from the prior year.
Cash & Balance Sheet
Azitra Inc generated -$11.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 10.4% from the prior year.
Azitra Inc held $2.1M in cash against $0 in long-term debt as of fiscal year 2025.
Azitra Inc had 11M shares outstanding in fiscal year 2025.
Margins & Returns
Azitra Inc's ROE was -288.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 130.8 percentage points from the prior year.
Capital Allocation
Azitra Inc invested $4.8M in research and development in fiscal year 2025. This represents an increase of 2.4% from the prior year.
Azitra Inc invested $24K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 182.6% from the prior year.
AZTR Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | $0 | $0 | N/A | N/A | $0-100.0% | $8K |
| 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 | $1.6M | N/A | $1.2M-15.8% | $1.4M+12.1% | $1.3M | N/A | $1.0M-9.2% | $1.1M |
| SG&A Expenses | $2.4M | N/A | $1.6M+8.1% | $1.5M-20.6% | $1.9M | N/A | $1.9M+23.5% | $1.5M |
| Operating Income | -$3.9M | N/A | -$2.8M+3.6% | -$2.9M+7.4% | -$3.1M | N/A | -$2.9M-10.1% | -$2.7M |
| Interest Expense | $3K | N/A | $372-20.5% | $468-63.8% | $1K | N/A | $4K+116.1% | $2K |
| Income Tax | $0 | N/A | $0 | $0 | $0 | N/A | $0 | $0 |
| Net Income | -$3.9M | N/A | -$2.8M+4.3% | -$2.9M+5.8% | -$3.1M | N/A | -$1.0M+61.6% | -$2.6M |
| EPS (Diluted) | $-0.25 | N/A | $-0.67-272.2% | $-0.18+88.4% | $-1.55 | N/A | $-1.14+58.4% | $-2.74 |
AZTR Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $12.1M+141.3% | $5.0M+16.9% | $4.3M+8.7% | $4.0M-33.0% | $5.9M-19.7% | $7.4M-24.7% | $9.8M+151.8% | $3.9M |
| Current Assets | $10.8M+256.4% | $3.0M+35.4% | $2.2M+23.9% | $1.8M-53.5% | $3.9M-25.9% | $5.2M-31.5% | $7.6M+471.6% | $1.3M |
| Cash & Equivalents | $10.1M+386.0% | $2.1M+47.5% | $1.4M+34.1% | $1.0M-67.4% | $3.2M-29.6% | $4.6M-37.3% | $7.3M+804.0% | $803K |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $5K+460.1% | $912 | $0 | $0 | $0-100.0% | $233 | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $1.6M+34.5% | $1.2M-39.4% | $2.0M+17.0% | $1.7M+15.1% | $1.5M-9.6% | $1.7M-3.4% | $1.7M-20.3% | $2.2M |
| Current Liabilities | $1.5M+45.1% | $1.1M-40.9% | $1.8M+24.4% | $1.5M+13.4% | $1.3M-6.9% | $1.4M+0.6% | $1.4M-21.3% | $1.7M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $10.5M+175.7% | $3.8M+66.8% | $2.3M+3.6% | $2.2M-50.1% | $4.4M-22.6% | $5.7M-29.3% | $8.1M+366.8% | $1.7M |
| Retained Earnings | -$72.4M-5.7% | -$68.5M-3.4% | -$66.3M-4.4% | -$63.5M-4.8% | -$60.6M-5.3% | -$57.6M-4.3% | -$55.2M-1.9% | -$54.2M |
AZTR Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.5M+14.4% | -$2.9M-18.3% | -$2.4M+13.2% | -$2.8M+8.4% | -$3.1M-18.8% | -$2.6M-4.5% | -$2.5M-17.8% | -$2.1M |
| Capital Expenditures | $15K+61.4% | $9K+175.0% | $3K-71.0% | $12K | $0 | $0-100.0% | $9K | $0 |
| Free Cash Flow | -$2.5M+14.1% | -$2.9M-18.5% | -$2.4M+13.4% | -$2.8M+8.0% | -$3.1M-18.8% | -$2.6M-4.1% | -$2.5M-18.2% | -$2.1M |
| Investing Cash Flow | -$37K+55.7% | -$84K-104.1% | -$41K-13.2% | -$36K-67.3% | -$22K+81.2% | -$116K-7.1% | -$108K-44.3% | -$75K |
| Financing Cash Flow | $10.5M+188.2% | $3.6M+28.2% | $2.8M+311.7% | $690K-60.4% | $1.7M+46251.2% | -$4K-100.0% | $9.0M+42383.4% | -$21K |
| 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 |
AZTR Financial Ratios
| 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 | -35470.4% |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -35093.2% |
| Return on Equity | -37.5% | N/A | -121.3%+10.0pp | -131.3%-61.7pp | -69.6% | N/A | -12.5%+139.9pp | -152.5% |
| Return on Assets | -32.4% | N/A | -64.3%+8.7pp | -73.0%-21.1pp | -51.9% | N/A | -10.3%+57.5pp | -67.8% |
| Current Ratio | 6.94+4.1 | 2.83+1.6 | 1.230.0 | 1.24-1.8 | 3.02-0.8 | 3.80-1.8 | 5.58+4.8 | 0.77 |
| Debt-to-Equity | 0.16-0.2 | 0.32-0.6 | 0.89+0.1 | 0.79+0.4 | 0.34+0.0 | 0.29+0.1 | 0.21-1.0 | 1.25 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -28026.0% |
Similar Companies
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% 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) generated -$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) generated -$11.2M in operating cash flow during fiscal year 2025, representing cash generated from 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 cash runway?
Based on fiscal year 2025 data, Azitra Inc (AZTR) had $2.1M in cash against an annual operating cash burn of $11.2M. This gives an estimated cash runway of approximately 2 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 Azitra Inc's Altman Z-Score?
Azitra Inc (AZTR) has an Altman Z-Score of -24.79, 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) has an earnings quality ratio of 1.02x, 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.
Can Azitra Inc cover its interest payments?
Azitra Inc (AZTR) has an interest coverage ratio of -1445.5x, meaning it can struggle to cover its interest obligations. 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.