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 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).
Cash burn and asset shrinkage are tightening short-term liquidity, leaving the business reliant on external funding rather than operations.
From FY2024 to FY2025, total assets fell from$6.2M to$3.6M , which by itself widened the equity deficit and shows the business was consuming its resource base, not just rearranging liabilities. Because operating cash outflow in FY2025 was-$16.1M against only$1.7M of cash, the company was still far from self-funding even before considering what it owed.
Near-term obligations are the main pressure point: the current ratio slipped from 0.5x to 0.3x. Cash also fell from
The last year with reported revenue, FY2023, already looked subscale:
Financial Health Signals
CERo Therapeutics does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The metrics below are current.
Key Financial Metrics
Earnings & Revenue
None of these metrics is reported for fiscal year 2025.
Cash & Balance Sheet
CERo Therapeutics held $1.7M in cash as of fiscal year 2025; long-term debt is not reported for that period.
CERo Therapeutics paid $10.37 per share in dividends in fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
None of these metrics is reported for fiscal year 2025.
Capital Allocation
None of these metrics is reported for fiscal year 2025.
CERO Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| R&D Expenses | $1.7M-25.8% | $2.3M | N/A | $2.4M-13.4% | $2.8M-5.3% | $2.9M | N/A | $1.8M |
| SG&A Expenses | $2.1M-15.8% | $2.5M | N/A | $2.0M+0.3% | $2.0M-3.6% | $2.0M | N/A | $2.6M |
| Operating Income | -$3.8M+20.6% | -$4.8M | N/A | -$4.4M+7.6% | -$4.7M+4.6% | -$5.0M | N/A | -$4.4M |
| Interest Expense | $690K+315.0% | $166K | N/A | N/A | N/A | N/A | N/A | -$4K |
| Net Income | -$1.0M+82.5% | -$5.9M | N/A | -$4.9M+10.4% | -$5.4M-6.1% | -$5.1M | N/A | -$4.2M |
| EPS (Diluted) | -$0.70 | -$0.20 | N/A | -$9.10 | -$61.71 | -$31.82 | N/A | -$170.22 |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Income Tax.
CERO Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.9M-13.8% | $2.2M-39.4% | $3.6M-6.9% | $3.9M-36.9% | $6.2M-22.4% | $8.0M+28.7% | $6.2M-4.4% | $6.5M |
| Current Assets | $1.5M-1.7% | $1.6M-42.4% | $2.7M+7.1% | $2.6M-39.9% | $4.2M-26.4% | $5.8M+55.3% | $3.7M0.0% | $3.7M |
| Cash & Equivalents | $863K+0.6% | $857K-48.4% | $1.7M-12.5% | $1.9M-41.1% | $3.2M-36.7% | $5.1M+53.3% | $3.3M-1.6% | $3.4M |
| Total Liabilities | $32.4M+182.7% | $11.5M+26.1% | $9.1M+7.5% | $8.5M+7.9% | $7.8M-5.8% | $8.3M+2.7% | $8.1M-20.5% | $10.2M |
| Current Liabilities | $32.4M+186.1% | $11.3M+24.6% | $9.1M+7.5% | $8.5M+11.0% | $7.6M-3.1% | $7.9M+6.2% | $7.4M-21.4% | $9.4M |
| Long-Term Debt | N/A | $137K | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$30.5M-229.5% | -$9.3M-70.0% | -$5.4M-19.9% | -$4.5M-178.1% | -$1.6M-396.0% | -$329K+82.6% | -$1.9M+48.8% | -$3.7M |
| Retained Earnings | -$97.8M-1.1% | -$96.7M-6.5% | -$90.8M-5.3% | -$86.3M-6.0% | -$81.4M-7.1% | -$76.0M-7.2% | -$70.9M+0.9% | -$71.6M |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill.
CERO Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$7.9M-381.7% | $2.8M | N/A | N/A | N/A | N/A | N/A | N/A |
| Dividends Paid | N/A | $127K | $0-100.0% | $43K+200.0% | -$43K-133.9% | $127K | N/A | N/A |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Share Buybacks.
CERO Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Return on Assets | -54.1%+212.8pp | -266.9% | N/A | -124.2%-36.8pp | -87.3%-23.4pp | -63.9% | N/A | -65.1% |
| Current Ratio | 0.05-0.1x | 0.14-0.2x | 0.300.0x | 0.30-0.3x | 0.56-0.2x | 0.73+0.2x | 0.50+0.1x | 0.39 |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Debt-to-Equity, FCF Margin.
Note: Shareholder equity is negative (-$5.4M), 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 (0.30), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Where CERo Therapeutics Ranks
Frequently Asked Questions
Does CERo Therapeutics pay dividends?
Yes, CERo Therapeutics (CERO) paid $10.37 per share in dividends during fiscal year 2025.
What is CERo Therapeutics's operating cash flow?
CERo Therapeutics (CERO) recorded an outflow of $16.1M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are CERo Therapeutics's total assets?
CERo Therapeutics (CERO) had $3.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What is CERo Therapeutics's current ratio?
CERo Therapeutics (CERO) had a current ratio of 0.30 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
How does CERo Therapeutics's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, CERo Therapeutics (CERO) held $1.7M in cash, cash equivalents and investments, and reported an operating cash outflow of $16.1M over that year. Dividing the one by the other, the reported balance equals about 1 month 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.
Why is CERo Therapeutics's debt-to-equity ratio negative or not reported?
CERo Therapeutics (CERO) has negative shareholder equity of -$5.4M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. 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.