CERo Therapeutics Financials
This page shows CERo Therapeutics (CERO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 3 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).
Financial Health Signals
CERo Therapeutics passes 1 of 9 financial strength tests. 1 of 2 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
CERo Therapeutics earns $-700.4 in operating income for every $1 of interest expense (-$15.3M vs $22K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
CERo Therapeutics reported -$7.7M in net income in fiscal year 2024. This represents a decrease of 6.1% from the prior year.
CERo Therapeutics earned $-18.15 per diluted share (EPS) in fiscal year 2024. This represents an increase of 98.5% from the prior year.
CERo Therapeutics held $3.3M in cash against $0 in long-term debt as of fiscal year 2024.
CERo Therapeutics had 150M shares outstanding in fiscal year 2024. This represents an increase of 2571543.7% from the prior year.
CERo Therapeutics invested $6.3M in research and development in fiscal year 2024. This represents an increase of 19.4% from the prior year.
CERO Income Statement
| Metric | Q3'25 | Q1'25 | Q3'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| 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 | $2.4M-17.9% | $2.9M+63.9% | $1.8M+96.3% | $904K | N/A | $1.3M+7.1% | $1.2M-33.7% | $1.8M |
| SG&A Expenses | $2.0M-3.2% | $2.0M-22.3% | $2.6M-4.5% | $2.8M | N/A | $258K-78.9% | $1.2M+91.2% | $638K |
| Operating Income | -$4.4M+11.9% | -$5.0M-12.5% | -$4.4M-20.4% | -$3.7M | N/A | -$1.5M+36.4% | -$2.4M+1.0% | -$2.4M |
| Interest Expense | N/A | N/A | -$4K-130.6% | $14K | N/A | -$157+99.7% | -$59K-371256.3% | -$16 |
| Income Tax | N/A | N/A | N/A | N/A | N/A | $26K-42.3% | $45K | N/A |
| Net Income | -$4.9M+4.9% | -$5.1M-20.8% | -$4.2M-144.7% | -$1.7M | N/A | -$1.3M+35.5% | -$2.1M+14.2% | -$2.4M |
| EPS (Diluted) | $-9.10 | $-1.59 | $-170.22 | $-12.24 | N/A | $-0.15+34.8% | $-0.23+14.8% | $-0.27 |
CERO Balance Sheet
| Metric | Q3'25 | Q1'25 | Q3'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.9M-51.1% | $8.0M+28.7% | $6.2M-31.4% | $9.1M+76.6% | $5.1M-39.5% | $8.5M-40.0% | $14.1M-2.2% | $14.4M |
| Current Assets | $2.6M-55.7% | $5.8M+55.3% | $3.7M-32.5% | $5.5M+179.2% | $2.0M | N/A | N/A | N/A |
| Cash & Equivalents | $1.9M-62.7% | $5.1M+53.3% | $3.3M-27.6% | $4.6M+4641.4% | $97K-18.6% | $119K+13.1% | $105K-40.9% | $178K |
| 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 | $8.5M+1.6% | $8.3M+2.7% | $8.1M-37.8% | $13.0M-72.4% | $47.2M+112.2% | $22.2M-18.8% | $27.4M+5.4% | $26.0M |
| Current Liabilities | $8.5M+7.6% | $7.9M+6.2% | $7.4M-36.5% | $11.7M+232.2% | $3.5M-26.9% | $4.8M+8.8% | $4.4M+33.9% | $3.3M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$4.5M-1279.3% | -$329K+82.6% | -$1.9M+52.4% | -$4.0M+90.5% | -$42.1M-205.5% | -$13.8M-3.6% | -$13.3M-14.8% | -$11.6M |
| Retained Earnings | -$86.3M-13.5% | -$76.0M-7.2% | -$70.9M-9.3% | -$64.9M-50.6% | -$43.1M-213.0% | -$13.8M-3.6% | -$13.3M | N/A |
CERO Cash Flow Statement
| Metric | Q3'25 | Q1'25 | Q3'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | N/A | N/A | N/A | N/A | -$187K+27.1% | -$256K+71.0% | -$883K-346.5% | -$198K |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | N/A | N/A | N/A | N/A | -$13.8M-342.9% | $5.7M+1894.4% | $285K+385.2% | -$100K |
| Financing Cash Flow | N/A | N/A | N/A | N/A | -$27.7M-410.9% | -$5.4M | N/A | N/A |
| Dividends Paid | $0-100.0% | $127K | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | $27.8M | N/A | N/A | N/A |
CERO Financial Ratios
| Metric | Q3'25 | Q1'25 | Q3'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| 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 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -124.2%-60.3pp | -63.9%+1.2pp | -65.1%-46.1pp | -19.1% | N/A | -15.9%-1.1pp | -14.8%+2.1pp | -16.9% |
| Current Ratio | 0.30-0.4 | 0.73+0.2 | 0.50+0.0 | 0.47-0.1 | 0.56 | N/A | N/A | N/A |
| Debt-to-Equity | -1.86+23.4 | -25.26-21.0 | -4.28-1.0 | -3.28-2.2 | -1.12+0.5 | -1.62+0.4 | -2.06+0.2 | -2.25 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Note: Shareholder equity is negative (-$1.9M), 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.
Note: The current ratio is below 1.0 (0.50), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
Is CERo Therapeutics profitable?
No, CERo Therapeutics (CERO) reported a net income of -$7.7M in fiscal year 2024.
What is CERo Therapeutics's earnings per share (EPS)?
CERo Therapeutics (CERO) reported diluted earnings per share of $-18.15 for fiscal year 2024. 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.
What are CERo Therapeutics's total assets?
CERo Therapeutics (CERO) had $6.2M in total assets as of fiscal year 2024, including both current and long-term assets.
How much does CERo Therapeutics spend on research and development?
CERo Therapeutics (CERO) invested $6.3M in research and development during fiscal year 2024.
How many shares does CERo Therapeutics have outstanding?
CERo Therapeutics (CERO) had 150M shares outstanding as of fiscal year 2024.
What is CERo Therapeutics's current ratio?
CERo Therapeutics (CERO) had a current ratio of 0.50 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.
What is CERo Therapeutics's debt-to-equity ratio?
CERo Therapeutics (CERO) had a debt-to-equity ratio of -4.28 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is CERo Therapeutics's return on assets (ROA)?
CERo Therapeutics (CERO) had a return on assets of -124.6% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
Why is CERo Therapeutics's debt-to-equity ratio negative or unusual?
CERo Therapeutics (CERO) has negative shareholder equity of -$1.9M as of fiscal year 2024, which causes the debt-to-equity ratio to appear negative or not meaningful. 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 CERo Therapeutics's Piotroski F-Score?
CERo Therapeutics (CERO) has a Piotroski F-Score of 1 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Can CERo Therapeutics cover its interest payments?
CERo Therapeutics (CERO) has an interest coverage ratio of -700.4x, 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.