CERo Therapeutics (CEROW) Financials
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 14, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CEROW SEC filings page.
This page shows CERo Therapeutics (CEROW) 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).
Development-stage spending is colliding with a shrinking asset base and increasingly tight short-term balance-sheet capacity.
Liabilities fell from$47.2M in FY2023 to$9.1M in FY2025, but equity remained negative, so the balance-sheet contraction did not restore net asset backing. By FY2025, the current ratio was 0.3x and operating cash flow was-$16.1M , showing that liquidity pressure is not merely an accounting-equity issue.
In FY2023, R&D intensity reached
Operating cash flow went from
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
CERo Therapeutics's EBITDA was -$3.8M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 18.5% from the same quarter a year earlier.
CERo Therapeutics reported -$1.0M in net income in Q2 2026. This represents an increase of 81.0% from the same quarter a year earlier. Against the prior quarter it is up 82.5%.
Not reported for Q2 2026.
Cash & Balance Sheet
CERo Therapeutics held $863K in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
None of these metrics is reported for Q2 2026.
Capital Allocation
CERo Therapeutics invested $1.7M in research and development in Q2 2026. This represents a decrease of 37.0% from the same quarter a year earlier. Against the prior quarter it is down 25.8%.
Not reported for Q2 2026.
Not reported for Q2 2026.
CEROW 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 |
|---|---|---|---|---|---|---|---|---|
| R&D Expenses | $1.7M-37.0% | $2.3M-19.6% | N/A | $2.4M+34.5% | $2.8M+1.5% | $2.9M+221.7% | N/A | $1.8M+38.9% |
| SG&A Expenses | $2.1M+7.1% | $2.5M+22.7% | N/A | $2.0M-24.8% | $2.0M-19.1% | $2.0M-25.7% | N/A | $2.6M+918.6% |
| Operating Income | -$3.8M+18.6% | -$4.8M+2.1% | N/A | -$4.4M+0.9% | -$4.7M+8.2% | -$5.0M-35.4% | N/A | -$4.4M-186.7% |
| EBITDA | -$3.8M+18.5% | N/A | N/A | -$4.3M-0.1% | -$4.6M+7.7% | -$4.9M-36.2% | N/A | -$4.3M-202.0% |
| Interest Expense | $690K | $166K | N/A | N/A | N/A | N/A | N/A | -$4K-2714.0% |
| Net Income | -$1.0M+81.0% | -$5.9M-15.3% | N/A | -$4.9M-14.9% | -$5.4M-121.2% | -$5.1M-195.6% | N/A | -$4.2M-213.3% |
| EPS (Basic) | -$0.70+98.9% | -$0.20+99.4% | N/A | -$9.10+94.7% | -$61.71+79.6% | -$31.82-160.0% | N/A | -$170.22-113380.0% |
| EPS (Diluted) | -$0.70 | -$0.20 | N/A | -$9.10 | -$61.71 | -$31.82 | N/A | -$170.22 |
| Diluted Shares (Avg) | 42M | 29M | N/A | 1M | 488,076 | 171,381 | N/A | 24,838 |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Income Tax.
CEROW 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 | $1.9M-69.4% | $2.2M-72.4% | $3.6M-41.3% | $3.9M-39.8% | $6.2M-15.9% | $8.0M-11.7% | $6.2M+21.1% | $6.5M-23.4% |
| Current Assets | $1.5M-63.5% | $1.6M-72.7% | $2.7M-26.4% | $2.6M-31.2% | $4.2M0.0% | $5.8M+4.8% | $3.7M+88.5% | $3.7M |
| Cash & Equivalents | $863K-73.3% | $857K-83.2% | $1.7M-50.0% | $1.9M-43.8% | $3.2M-11.5% | $5.1M+11.0% | $3.3M+3334.5% | $3.4M+2740.2% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $32.4M+313.5% | $11.5M+37.8% | $9.1M+12.2% | $8.5M-17.1% | $7.8M-20.5% | $8.3M-36.1% | $8.1M-82.8% | $10.2M-54.2% |
| Current Liabilities | $32.4M+325.4% | $11.3M+44.1% | $9.1M+22.8% | $8.5M-10.3% | $7.6M-13.2% | $7.9M-32.5% | $7.4M+111.1% | $9.4M+96.3% |
| Non-Current Liabilities | $0-100.0% | $137K-70.4% | $0-100.0% | $0-100.0% | $218K-79.7% | $462K-66.6% | $699K-98.4% | $772K-95.6% |
| Long-Term Debt | N/A | $137K | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$30.5M-1767.0% | -$9.3M-2710.9% | -$5.4M-187.5% | -$4.5M-22.7% | -$1.6M+34.2% | -$329K+91.7% | -$1.9M+95.5% | -$3.7M+73.1% |
| Retained Earnings | -$97.8M-20.0% | -$96.7M-27.2% | -$90.8M-28.1% | -$86.3M-20.5% | -$81.4M-20.9% | -$76.0M-17.1% | -$70.9M-64.6% | -$71.6M-420.0% |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill.
CEROW 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 | -$7.9M | $2.8M | N/A | N/A | N/A | N/A | N/A | N/A |
| Depreciation & Amortization | $59K-23.3% | N/A | N/A | $69K-39.1% | $76K-33.3% | $76K0.0% | N/A | $114K-1.3% |
| Stock-Based Compensation | $1.1M+512.1% | $1.6M+430.4% | N/A | $348K-13.0% | $183K+511.1% | $305K+238.8% | N/A | $400K |
| Dividends Paid | N/A | $127K0.0% | $0 | $43K | -$43K | $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.
CEROW 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.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Debt-to-Equity, Asset Turnover, 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.
Where CERo Therapeutics Ranks
Frequently Asked Questions
Does CERo Therapeutics pay dividends?
Yes, CERo Therapeutics (CEROW) paid $10.37 per share in dividends during fiscal year 2025.
What is CERo Therapeutics's operating cash flow?
CERo Therapeutics (CEROW) 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 (CEROW) 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 (CEROW) had a current ratio of 0.30 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
Why is CERo Therapeutics's debt-to-equity ratio negative or not reported?
CERo Therapeutics (CEROW) 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.