Cingulate Inc Financials
This page shows Cingulate Inc (CING) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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
Cingulate Inc passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass.
For every $1 of reported earnings, Cingulate Inc generates $1.19 in operating cash flow (-$18.5M OCF vs -$15.5M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Cingulate Inc's EBITDA was -$15.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 32.4% from the prior year.
Cingulate Inc generated -$18.7M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 22.3% from the prior year.
Cingulate Inc reported -$15.5M in net income in fiscal year 2024. This represents an increase of 33.9% from the prior year.
Cingulate Inc earned $-10.20 per diluted share (EPS) in fiscal year 2024. This represents an increase of 96.7% from the prior year.
Cingulate Inc held $12.2M in cash against $0 in long-term debt as of fiscal year 2024.
Cingulate Inc had 3M shares outstanding in fiscal year 2024. This represents an increase of 3397.0% from the prior year.
Cingulate Inc invested $9.4M in research and development in fiscal year 2024. This represents a decrease of 39.0% from the prior year.
Cingulate Inc invested $212K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 5.5% from the prior year.
CING Income Statement
| Metric | Q3'25 | Q3'24 | Q4'23 | Q3'23 | Q4'22 | Q3'22 | Q4'21 | Q3'21 |
|---|---|---|---|---|---|---|---|---|
| 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 | $2.8M+99.4% | $1.4M | N/A | $3.9M | N/A | $2.1M | N/A | $5.8M |
| SG&A Expenses | $3.1M+69.8% | $1.9M | N/A | $1.8M | N/A | $1.8M | N/A | $9.5M |
| Operating Income | -$6.0M-82.7% | -$3.3M | N/A | -$5.7M | N/A | -$4.0M | N/A | -$15.3M |
| Interest Expense | -$137K-3815.6% | -$3K | N/A | $238K | N/A | $105K | N/A | N/A |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$7.3M-77.9% | -$4.1M | N/A | -$6.0M | N/A | -$4.0M | N/A | -$15.3M |
| EPS (Diluted) | $-1.35+42.3% | $-2.34 | N/A | $-72.60 | N/A | $-0.36 | N/A | N/A |
CING Balance Sheet
| Metric | Q3'25 | Q3'24 | Q4'23 | Q3'23 | Q4'22 | Q3'22 | Q4'21 | Q3'21 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $10.5M-29.2% | $14.9M+325.7% | $3.5M-40.5% | $5.9M-48.5% | $11.4M-25.8% | $15.4M-32.8% | $22.9M | N/A |
| Current Assets | $7.4M-41.3% | $12.7M+2088.2% | $579K-80.1% | $2.9M-63.1% | $7.9M-33.5% | $11.8M-37.3% | $18.9M | N/A |
| Cash & Equivalents | $6.1M-49.9% | $12.2M+23196.9% | $52K-97.4% | $2.0M-62.9% | $5.4M-45.3% | $9.8M-40.6% | $16.5M | N/A |
| 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 | $7.0M-4.9% | $7.4M-28.5% | $10.4M+73.6% | $6.0M-20.7% | $7.5M+7.3% | $7.0M+243.2% | $2.0M | N/A |
| Current Liabilities | $5.9M+18.3% | $5.0M-51.4% | $10.2M+78.4% | $5.7M-18.3% | $7.0M+9.5% | $6.4M+444.4% | $1.2M | N/A |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $3.5M-53.4% | $7.5M+208.5% | -$6.9M-7030.8% | -$96K-102.5% | $3.9M-53.6% | $8.4M-59.9% | $20.8M+576.9% | $3.1M |
| Retained Earnings | -$126.1M-14.7% | -$109.9M-18.3% | -$92.9M-8.1% | -$86.0M-23.9% | -$69.4M-7.1% | -$64.8M-25.3% | -$51.7M | N/A |
CING Cash Flow Statement
| Metric | Q3'25 | Q3'24 | Q4'23 | Q3'23 | Q4'22 | Q3'22 | Q4'21 | Q3'21 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$4.2M-4.0% | -$4.1M-59.2% | -$2.6M+40.3% | -$4.3M-2.0% | -$4.2M-23.7% | -$3.4M+26.5% | -$4.6M-78.8% | -$2.6M |
| Capital Expenditures | $0-100.0% | $198K+6.2% | $187K | $0-100.0% | $143K | $0-100.0% | $710K+4401.1% | $16K |
| Free Cash Flow | -$4.2M+0.8% | -$4.3M-55.6% | -$2.7M+35.9% | -$4.3M+1.3% | -$4.3M-27.9% | -$3.4M+36.3% | -$5.3M-105.0% | -$2.6M |
| Investing Cash Flow | $0+100.0% | -$198K-6.2% | -$187K | $0+100.0% | -$143K-4500.6% | $3K+100.5% | -$710K-4401.1% | -$16K |
| Financing Cash Flow | $1.5M-77.3% | $6.4M+690.9% | $815K-86.2% | $5.9M+6703.3% | -$90K-101.8% | $5.0M-74.9% | $19.9M+473.4% | $3.5M |
| 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 |
CING Financial Ratios
| Metric | Q3'25 | Q3'24 | Q4'23 | Q3'23 | Q4'22 | Q3'22 | Q4'21 | Q3'21 |
|---|---|---|---|---|---|---|---|---|
| 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 | -69.8%-39.4pp | -30.4% | N/A | -101.8% | N/A | -26.2% | N/A | N/A |
| Current Ratio | 1.26-1.3 | 2.55+2.5 | 0.06-0.4 | 0.51-0.6 | 1.12-0.7 | 1.85-14.2 | 16.05 | N/A |
| Debt-to-Equity | 2.03+1.0 | 0.99+2.5 | -1.51+60.4 | -61.94-63.9 | 1.94+1.1 | 0.84+0.7 | 0.10 | N/A |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
Is Cingulate Inc profitable?
No, Cingulate Inc (CING) reported a net income of -$15.5M in fiscal year 2024.
What is Cingulate Inc's earnings per share (EPS)?
Cingulate Inc (CING) reported diluted earnings per share of $-10.20 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 is Cingulate Inc's EBITDA?
Cingulate Inc (CING) had EBITDA of -$15.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Cingulate Inc's free cash flow?
Cingulate Inc (CING) generated -$18.7M in free cash flow during fiscal year 2024. This represents a -22.3% 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 Cingulate Inc's operating cash flow?
Cingulate Inc (CING) generated -$18.5M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Cingulate Inc's total assets?
Cingulate Inc (CING) had $14.9M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Cingulate Inc's capital expenditures?
Cingulate Inc (CING) invested $212K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Cingulate Inc spend on research and development?
Cingulate Inc (CING) invested $9.4M in research and development during fiscal year 2024.
How many shares does Cingulate Inc have outstanding?
Cingulate Inc (CING) had 3M shares outstanding as of fiscal year 2024.
What is Cingulate Inc's current ratio?
Cingulate Inc (CING) had a current ratio of 2.55 as of fiscal year 2024, which is generally considered healthy.
What is Cingulate Inc's debt-to-equity ratio?
Cingulate Inc (CING) had a debt-to-equity ratio of 0.99 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Cingulate Inc's return on assets (ROA)?
Cingulate Inc (CING) had a return on assets of -104.6% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Cingulate Inc's cash runway?
Based on fiscal year 2024 data, Cingulate Inc (CING) had $12.2M in cash against an annual operating cash burn of $18.5M. This gives an estimated cash runway of approximately 8 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 Cingulate Inc's Piotroski F-Score?
Cingulate Inc (CING) has a Piotroski F-Score of 2 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.
Are Cingulate Inc's earnings high quality?
Cingulate Inc (CING) has an earnings quality ratio of 1.19x, 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.