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

Celcuity Inc (CELC) reported diluted earnings per share of -$3.79 for fiscal year 2025. This represents a -33.9% 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.

Celcuity Inc Financials

CELC

FY2025 annual

Revenue Not reported for FY2025

Net Income -$177.0M -58.4% YoY

EPS (Diluted) -$3.79 -33.9% YoY

Free Cash Flow -$153.5M -83.4% YoY

Source SEC Filings (10-K/10-Q) Data as of Jun 30, 2026 Currency USD FYE December

This page shows Celcuity Inc (CELC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 10 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 CELC FY2025 2026-08-26

Celcuity’s capital-funded development model pairs escalating R&D with persistent cash losses and increasingly leveraged financing.

In FY2025, R&D spending reached $145.0M against an operating loss of $172.2M, showing development investment is the principal economic driver rather than a secondary expense. Operating cash flow of -$153.3M nearly matched free cash flow of -$153.5M, indicating the reported losses were accompanied by cash consumption, with little difference from capital spending.

Losses scaled with the development program: R&D rose from $25.8M in FY2021 to $145.0M in FY2025, while the operating loss widened from $28.4M to $172.2M. The pattern supports an investment-led cost structure, not evidence of fixed-cost absorption from revenue growth.

FY2025 financing cash flow of $360.6M substantially exceeded the $153.3M operating cash outflow, making external capital the mechanism supporting ongoing activity. At the same time, debt-to-equity reached 1.4x while the current ratio was 10.5x, combining greater long-term leverage with considerable reported short-term asset coverage.

Financial Health Signals

Financial health score not available

Celcuity 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.

Piotroski F-Score Partial

4/7

Celcuity Inc passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass.

Earnings Quality No Cash Backing

N/A

Celcuity Inc reported a net loss of $177.0M while operations used $153.3M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Interest Coverage At Risk

N/A

Celcuity Inc reported an operating loss of $172.2M against $14.4M 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

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Earnings & Revenue

EBITDA

-$172.0M

YoY-52.1%

Celcuity Inc's EBITDA was -$172.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 52.1% from the prior year.

Net Income

-$177.0M

YoY-58.4%

Celcuity Inc reported -$177.0M in net income in fiscal year 2025. This represents a decrease of 58.4% from the prior year.

EPS (Diluted)

-$3.79

YoY-33.9%

Celcuity Inc earned -$3.79 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 33.9% from the prior year.

Revenue

Not reported for fiscal year 2025.

Cash & Balance Sheet

Free Cash Flow

-$153.5M

YoY-83.4%

Celcuity Inc recorded an outflow of $153.5M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 83.4% from the prior year.

Cash & Debt

$165.7M

YoY+636.0%

5Y CAGR+70.1%

Celcuity Inc held $165.7M in cash against $137.5M in long-term debt as of fiscal year 2025.

Shares Outstanding

48M

YoY+29.9%

Celcuity Inc had 48M shares outstanding in fiscal year 2025. This represents an increase of 29.9% from the prior year.

Dividends Per Share

Not reported for fiscal year 2025.

Margins & Returns

Return on Equity

-176.1%

YoY-79.4pp

5Y CAGR-95.1pp

Celcuity Inc's ROE was -176.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 79.4 percentage points from the prior year.

Gross Margin

Not reported for fiscal year 2025.

Operating Margin

Not reported for fiscal year 2025.

Net Margin

Not reported for fiscal year 2025.

Capital Allocation

R&D Spending

$145.0M

YoY+39.1%

5Y CAGR+80.0%

Celcuity Inc invested $145.0M in research and development in fiscal year 2025. This represents an increase of 39.1% from the prior year.

Capital Expenditures

$249K

YoY-0.4%

5Y CAGR+22.7%

Celcuity Inc invested $249K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 0.4% from the prior year.

Share Buybacks

Not reported for fiscal year 2025.

CELC Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

CELC annual income statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16
R&D Expenses	N/A	$145.0M+39.1%	$104.2M+72.0%	$60.6M+71.7%	$35.3M+37.0%	$25.8M+235.2%	$7.7M+22.6%	$6.3M-0.9%	$6.3M+27.0%	$5.0M+62.5%	$3.1M
SG&A Expenses	N/A	$27.2M+200.1%	$9.1M+60.8%	$5.6M+37.4%	$4.1M+57.9%	$2.6M+38.7%	$1.9M+21.9%	$1.5M-4.4%	$1.6M+65.2%	$973K+268.8%	$264K
Operating Income	N/A	-$172.2M-52.0%	-$113.3M-71.0%	-$66.2M-68.1%	-$39.4M-38.9%	-$28.4M-196.7%	-$9.6M-22.4%	-$7.8M+1.6%	-$7.9M-33.3%	-$6.0M-78.9%	-$3.3M
Interest Expense	N/A	$14.4M+39.8%	$10.3M+93.4%	$5.3M+152.9%	$2.1M+66.8%	$1.3M+1051858.3%	$120-24.5%	$159+43.2%	$111-100.0%	$452K	$0
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	$0	$0	$0	$0	$0
Net Income	N/A	-$177.0M-58.4%	-$111.8M-75.3%	-$63.8M-58.0%	-$40.4M-36.4%	-$29.6M-212.5%	-$9.5M-28.7%	-$7.4M+1.6%	-$7.5M-19.7%	-$6.3M-88.9%	-$3.3M
EPS (Diluted)	—	-$3.79-33.9%	-$2.83	-$2.69	-$2.64	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
R&D Expenses	$31.1M-6.0%	$33.1M	N/A	$34.9M-4.1%	$36.4M+22.4%	$29.8M	N/A	$27.6M
SG&A Expenses	$35.0M+100.9%	$17.4M	N/A	$7.9M+4.5%	$7.6M+19.1%	$6.4M	N/A	$2.5M
Operating Income	-$66.1M-30.9%	-$50.5M	N/A	-$42.8M+2.6%	-$44.0M-21.8%	-$36.1M	N/A	-$30.1M
Interest Expense	$3.5M-22.2%	$4.5M	N/A	$4.6M+43.6%	$3.2M0.0%	$3.2M	N/A	$3.3M
Net Income	-$78.9M-49.2%	-$52.8M	N/A	-$43.8M+3.2%	-$45.3M-22.4%	-$37.0M	N/A	-$29.8M
EPS (Diluted)	-$1.44-48.5%	-$0.97	N/A	-$0.92+11.5%	-$1.04-20.9%	-$0.86	N/A	-$0.70

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit.

TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.

CELC Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

CELC annual balance sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16
Total Assets	$466.6M+90.3%	$245.1M+28.2%	$191.2M+8.8%	$175.7M+104.5%	$85.9M+563.0%	$13.0M-36.1%	$20.3M-22.1%	$26.0M-18.6%	$32.0M+427.8%	$6.1M
Current Assets	$465.7M+90.4%	$244.6M+28.3%	$190.6M+8.8%	$175.2M+105.3%	$85.4M+601.5%	$12.2M-36.8%	$19.3M-23.7%	$25.2M+3.0%	$24.5M+314.1%	$5.9M
Cash & Equivalents	$165.7M+636.0%	$22.5M-26.6%	$30.7M+24.8%	$24.6M-70.8%	$84.3M+624.2%	$11.6M-37.9%	$18.7M+17.5%	$15.9M+492.8%	$2.7M-54.1%	$5.9M
Total Liabilities	$366.0M+182.6%	$129.5M+151.7%	$51.5M+22.7%	$41.9M+143.8%	$17.2M+1270.8%	$1.3M+27.6%	$983K+44.1%	$682K+18.0%	$578K+29.8%	$445K
Current Liabilities	$44.2M+39.2%	$31.7M+123.6%	$14.2M+106.2%	$6.9M+174.6%	$2.5M+111.4%	$1.2M+30.1%	$911K+37.6%	$662K+14.6%	$578K+29.8%	$445K
Long-Term Debt	$137.5M+30.9%	$105.1M+179.8%	$37.6M+5.1%	$35.8M+123.8%	$16.0M	N/A	N/A	N/A	N/A	N/A
Total Equity	$100.6M-13.0%	$115.6M-17.3%	$139.8M+4.5%	$133.8M+94.7%	$68.7M+487.2%	$11.7M-39.4%	$19.3M-23.9%	$25.3M-19.2%	$31.4M+459.4%	$5.6M
Retained Earnings	-$448.9M-65.1%	-$271.9M-69.8%	-$160.1M-66.2%	-$96.3M-72.2%	-$55.9M-112.5%	-$26.3M-56.2%	-$16.8M-77.6%	-$9.5M-372.7%	-$2.0M+75.9%	-$8.3M

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$828.2M+101.9%	$410.2M-12.1%	$466.6M-2.0%	$476.0M+159.3%	$183.6M-15.8%	$218.1M-11.0%	$245.1M-10.2%	$273.0M
Current Assets	$775.8M+89.7%	$408.9M-12.2%	$465.7M-2.1%	$475.5M+159.7%	$183.1M-15.9%	$217.6M-11.0%	$244.6M-10.2%	$272.4M
Cash & Equivalents	$182.0M+25.4%	$145.2M-12.4%	$165.7M+123.2%	$74.3M+60.2%	$46.4M+181.3%	$16.5M-26.8%	$22.5M+78.6%	$12.6M
Total Liabilities	$841.0M+135.8%	$356.6M-2.6%	$366.0M+1.9%	$359.0M+157.9%	$139.2M+5.9%	$131.5M+1.5%	$129.5M+5.0%	$123.3M
Current Liabilities	$86.9M+161.6%	$33.2M-24.8%	$44.2M+13.8%	$38.8M-2.9%	$39.9M+21.3%	$32.9M+3.8%	$31.7M+20.6%	$26.3M
Long-Term Debt	$0-100.0%	$137.9M+0.2%	$137.5M+0.2%	$137.2M+29.9%	$105.6M+0.2%	$105.3M+0.2%	$105.1M+0.2%	$104.8M
Total Equity	-$12.8M-123.9%	$53.5M-46.8%	$100.6M-14.0%	$117.0M+163.6%	$44.4M-48.8%	$86.7M-25.0%	$115.6M-22.8%	$149.7M
Retained Earnings	-$580.6M-15.7%	-$501.7M-11.8%	-$448.9M-12.8%	-$397.9M-12.4%	-$354.1M-14.7%	-$308.9M-13.6%	-$271.9M-15.6%	-$235.2M

Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill.

CELC Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

CELC annual cash flow statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16
Operating Cash Flow	-$191.7M	-$153.3M-83.6%	-$83.5M-55.1%	-$53.8M-49.4%	-$36.0M-77.3%	-$20.3M-184.3%	-$7.1M-19.1%	-$6.0M+1.3%	-$6.1M-22.8%	-$4.9M-71.3%	-$2.9M
Capital Expenditures	$450K	$249K-0.4%	$250K+156.0%	$98K-38.5%	$159K+93.9%	$82K-8.4%	$89K-76.5%	-$380K-39.6%	$630K+162.5%	$240K+486.4%	$41K
Free Cash Flow	-$192.2M	-$153.5M-83.4%	-$83.7M-55.3%	-$53.9M-49.1%	-$36.2M-77.3%	-$20.4M-181.9%	-$7.2M-13.4%	-$6.4M+4.9%	-$6.7M-29.3%	-$5.2M-77.1%	-$2.9M
Investing Cash Flow	-$450.3M	-$64.1M-1.6%	-$63.1M-1159.3%	-$5.0M+96.5%	-$144.0M-176847.6%	-$81K+8.9%	-$89K-101.0%	$8.5M-55.3%	$19.1M+165.9%	-$29.0M-70743.2%	-$41K
Financing Cash Flow	$777.7M	$360.6M+160.5%	$138.4M+113.2%	$64.9M-46.1%	$120.3M+29.3%	$93.0M+67336.7%	$138K-46.8%	$259K+9.6%	$237K-99.2%	$30.7M+725.9%	$3.7M
Dividends Paid	N/A	N/A	N/A	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	-$55.4M-0.7%	-$55.1M-51.3%	-$36.4M+18.8%	-$44.8M-23.8%	-$36.2M-1.0%	-$35.9M-29.1%	-$27.8M-35.1%	-$20.6M
Capital Expenditures	$51K-79.5%	$249K+369.8%	$53K-45.4%	$97K+148.7%	$39K-35.0%	$60K+33.3%	$45K-11.8%	$51K
Free Cash Flow	-$55.5M-0.3%	-$55.3M-51.7%	-$36.5M+18.8%	-$44.9M-23.9%	-$36.3M-0.9%	-$35.9M-29.1%	-$27.8M-34.9%	-$20.6M
Investing Cash Flow	-$330.6M-1057.7%	$34.5M-66.6%	$103.4M+140.1%	-$257.6M-491.2%	$65.9M+171.4%	$24.3M-35.4%	$37.6M+1873.7%	$1.9M
Financing Cash Flow	$422.9M+1243647.1%	$34K-99.9%	$24.4M-92.6%	$330.3M+142281.5%	$232K-95.8%	$5.6M+4415.4%	$123K-84.7%	$803K
Dividends Paid	N/A	N/A	N/A	$0	$0	$0	N/A	$0

Not reported in any period shown, so not listed: Share Buybacks.

CELC Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

CELC annual financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16
Return on Equity	-176.1%-79.4pp	-96.7%-51.0pp	-45.6%-15.4pp	-30.2%+12.9pp	-43.1%+37.9pp	-81.0%-42.8pp	-38.1%-8.6pp	-29.5%-9.6pp	-19.9%+39.1pp	-59.0%
Return on Assets	-38.0%+7.7pp	-45.6%-12.3pp	-33.4%-10.4pp	-23.0%+11.5pp	-34.5%+38.7pp	-73.1%-36.8pp	-36.3%-7.6pp	-28.7%-9.2pp	-19.6%+35.1pp	-54.6%
Current Ratio	10.55+2.8x	7.71-5.7x	13.43-12.0x	25.46-8.6x	34.06+23.8x	10.26-10.9x	21.12-17.0x	38.07-4.3x	42.36+29.1x	13.27
Debt-to-Equity	1.37+0.5x	0.91+0.6x	0.270.0x	0.270.0x	0.23+0.1x	0.11+0.1x	0.050.0x	0.030.0x	0.02-0.1x	0.08

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Return on Equity	N/A	-98.7%	N/A	-37.5%+64.6pp	-102.0%-59.3pp	-42.7%	N/A	-19.9%
Return on Assets	-9.5%+3.4pp	-12.9%	N/A	-9.2%+15.5pp	-24.7%-7.7pp	-17.0%	N/A	-10.9%
Current Ratio	8.93-3.4x	12.31+1.8x	10.55-1.7x	12.26+7.7x	4.58-2.0x	6.61-1.1x	7.71-2.6x	10.36
Debt-to-Equity	N/A	2.58+1.2x	1.37+0.2x	1.17-1.2x	2.38+1.2x	1.22+0.3x	0.91+0.2x	0.70

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, FCF Margin.

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Where Celcuity Inc Ranks

Frequently Asked Questions

Is Celcuity Inc profitable?

No, Celcuity Inc (CELC) reported a net income of -$177.0M in fiscal year 2025.

What is Celcuity Inc's EBITDA?

Celcuity Inc (CELC) had EBITDA of -$172.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Celcuity Inc have?

As of fiscal year 2025, Celcuity Inc (CELC) had $165.7M in cash and equivalents against $137.5M in long-term debt.

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

Celcuity Inc (CELC) has a return on equity of -176.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Celcuity Inc's free cash flow?

Celcuity Inc (CELC) recorded an outflow of $153.5M in free cash flow during fiscal year 2025. This represents a -83.4% 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 Celcuity Inc's operating cash flow?

Celcuity Inc (CELC) recorded an outflow of $153.3M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are Celcuity Inc's total assets?

Celcuity Inc (CELC) had $466.6M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Celcuity Inc's capital expenditures?

Celcuity Inc (CELC) invested $249K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Celcuity Inc spend on research and development?

Celcuity Inc (CELC) invested $145.0M in research and development during fiscal year 2025.

How many shares does Celcuity Inc have outstanding?

Celcuity Inc (CELC) had 48M shares outstanding as of fiscal year 2025.

What is Celcuity Inc's current ratio?

Celcuity Inc (CELC) had a current ratio of 10.55 as of fiscal year 2025, which is generally considered healthy.

What is Celcuity Inc's debt-to-equity ratio?

Celcuity Inc (CELC) had a debt-to-equity ratio of 1.37 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

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

Celcuity Inc (CELC) had a return on assets of -38.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Celcuity Inc's Piotroski F-Score?

Celcuity Inc (CELC) has a Piotroski F-Score of 4 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 Celcuity Inc's earnings high quality?

Celcuity Inc (CELC) reported a net loss of $177.0M while operations used $153.3M 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 Celcuity Inc cover its interest payments?

Celcuity Inc (CELC) reported an operating loss of $172.2M against $14.4M 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.