Calidi Biotherapeutics Inc Financials
This page shows Calidi Biotherapeutics Inc (CLDI) 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).
Financial Health Signals
Calidi Biotherapeutics Inc passes 1 of 9 financial strength tests. No profitability signals pass, 1 of 3 leverage/liquidity signals pass.
For every $1 of reported earnings, Calidi Biotherapeutics Inc generates $1.07 in operating cash flow (-$21.3M OCF vs -$19.9M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Calidi Biotherapeutics Inc earns $-202.4 in operating income for every $1 of interest expense (-$20.2M vs $100K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Calidi Biotherapeutics Inc's EBITDA was -$18.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 13.0% from the prior year.
Calidi Biotherapeutics Inc reported -$19.9M in net income in fiscal year 2025. This represents an increase of 10.1% from the prior year.
Calidi Biotherapeutics Inc earned $-5.95 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 100.3% from the prior year.
Cash & Balance Sheet
Calidi Biotherapeutics Inc held $9.8M in cash against $600K in long-term debt as of fiscal year 2025.
Calidi Biotherapeutics Inc had 11M shares outstanding in fiscal year 2025. This represents an increase of 529.8% from the prior year.
Margins & Returns
Calidi Biotherapeutics Inc's ROE was -529.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 913.9 percentage points from the prior year.
Capital Allocation
Calidi Biotherapeutics Inc invested $9.7M in research and development in fiscal year 2025. This represents an increase of 9.7% from the prior year.
CLDI Income Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| 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-8.9% | $2.6M+6.9% | $2.4M | N/A | $2.2M-0.6% | $2.2M-21.0% | $2.7M | N/A |
| SG&A Expenses | $2.7M-12.5% | $3.1M+16.5% | $2.6M | N/A | $3.1M-14.8% | $3.6M-10.1% | $4.0M | N/A |
| Operating Income | -$5.0M+10.9% | -$5.7M-11.9% | -$5.1M | N/A | -$5.2M+9.5% | -$5.8M+14.5% | -$6.8M | N/A |
| Interest Expense | $27K-32.5% | $40K-60.0% | $100K | N/A | $200K0.0% | $200K-33.3% | $300K | N/A |
| Income Tax | $10K+150.0% | $4K+33.3% | $3K | N/A | -$1K-112.5% | $8K+100.0% | $4K | N/A |
| Net Income | -$5.1M+9.9% | -$5.7M-12.9% | -$5.1M | N/A | -$5.1M+12.4% | -$5.8M+20.2% | -$7.2M | N/A |
| EPS (Diluted) | $-2.21-11.1% | $-1.99 | $-0.18 | N/A | $-7.75+53.7% | $-16.75 | $-2.03 | N/A |
CLDI Balance Sheet
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $14.0M+50.0% | $9.4M-37.9% | $15.1M+6.2% | $14.2M+113.0% | $6.7M+3.5% | $6.4M-13.2% | $7.4M-26.1% | $10.0M |
| Current Assets | $11.0M+82.3% | $6.0M-47.3% | $11.5M+12.3% | $10.2M+360.5% | $2.2M+36.7% | $1.6M-16.1% | $1.9M-55.0% | $4.3M |
| Cash & Equivalents | $10.6M+97.0% | $5.4M-50.1% | $10.8M+12.3% | $9.6M+405.3% | $1.9M+137.5% | $800K-33.3% | $1.2M-44.6% | $2.2M |
| 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 | $6.8M-6.1% | $7.3M-6.3% | $7.8M-36.4% | $12.2M-25.8% | $16.5M-9.5% | $18.2M-17.3% | $22.0M+20.4% | $18.3M |
| Current Liabilities | $5.2M-3.0% | $5.4M-1.3% | $5.4M-42.9% | $9.5M-18.0% | $11.6M-11.3% | $13.1M-12.7% | $15.0M+46.1% | $10.2M |
| Long-Term Debt | $600K0.0% | $600K0.0% | $600K0.0% | $600K-74.7% | $2.4M+23.3% | $1.9M-43.0% | $3.4M+63.8% | $2.1M |
| Total Equity | $6.9M+292.2% | $1.8M-74.6% | $6.9M+352.5% | $1.5M+115.7% | -$9.8M+16.6% | -$11.8M+19.4% | -$14.6M-77.0% | -$8.2M |
| Retained Earnings | -$137.6M-3.9% | -$132.4M-4.5% | -$126.7M-4.1% | -$121.7M-3.5% | -$117.6M-4.5% | -$112.6M-5.4% | -$106.8M-7.3% | -$99.6M |
CLDI Cash Flow Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$4.2M+13.2% | -$4.9M+31.6% | -$7.1M-31.5% | -$5.4M-9.6% | -$4.9M+10.0% | -$5.5M-43.4% | -$3.8M+26.1% | -$5.2M |
| 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 | -$27K+52.6% | -$57K-714.3% | -$7K-40.0% | -$5K+16.7% | -$6K | $0+100.0% | -$5K+85.7% | -$35K |
| Financing Cash Flow | $9.5M+2121.3% | -$469K-105.8% | $8.1M-38.1% | $13.1M+116.8% | $6.0M+16.3% | $5.2M+72.6% | $3.0M+201.9% | -$3.0M |
| 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 |
CLDI Financial Ratios
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| 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 | -74.4%+249.5pp | -324.0%-251.0pp | -72.9% | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -36.7%+24.4pp | -61.1%-27.5pp | -33.6% | N/A | -75.9%+13.8pp | -89.7%+7.9pp | -97.6% | N/A |
| Current Ratio | 2.12+1.0 | 1.13-1.0 | 2.12+1.0 | 1.08+0.9 | 0.19+0.1 | 0.120.0 | 0.13-0.3 | 0.42 |
| Debt-to-Equity | 0.09-0.3 | 0.34+0.3 | 0.09-0.3 | 0.39+0.6 | -0.24-0.1 | -0.16+0.1 | -0.23+0.0 | -0.25 |
| 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 Calidi Biotherapeutics Inc profitable?
No, Calidi Biotherapeutics Inc (CLDI) reported a net income of -$19.9M in fiscal year 2025.
What is Calidi Biotherapeutics Inc's EBITDA?
Calidi Biotherapeutics Inc (CLDI) had EBITDA of -$18.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Calidi Biotherapeutics Inc have?
As of fiscal year 2025, Calidi Biotherapeutics Inc (CLDI) had $9.8M in cash and equivalents against $600K in long-term debt.
What is Calidi Biotherapeutics Inc's return on equity (ROE)?
Calidi Biotherapeutics Inc (CLDI) has a return on equity of -529.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Calidi Biotherapeutics Inc's operating cash flow?
Calidi Biotherapeutics Inc (CLDI) generated -$21.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Calidi Biotherapeutics Inc's total assets?
Calidi Biotherapeutics Inc (CLDI) had $8.9M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Calidi Biotherapeutics Inc spend on research and development?
Calidi Biotherapeutics Inc (CLDI) invested $9.7M in research and development during fiscal year 2025.
What is Calidi Biotherapeutics Inc's current ratio?
Calidi Biotherapeutics Inc (CLDI) had a current ratio of 1.59 as of fiscal year 2025, which is generally considered healthy.
What is Calidi Biotherapeutics Inc's debt-to-equity ratio?
Calidi Biotherapeutics Inc (CLDI) had a debt-to-equity ratio of 0.16 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Calidi Biotherapeutics Inc's return on assets (ROA)?
Calidi Biotherapeutics Inc (CLDI) had a return on assets of -224.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Calidi Biotherapeutics Inc's cash runway?
Based on fiscal year 2025 data, Calidi Biotherapeutics Inc (CLDI) had $9.8M in cash against an annual operating cash burn of $21.3M. This gives an estimated cash runway of approximately 6 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 Calidi Biotherapeutics Inc's Piotroski F-Score?
Calidi Biotherapeutics Inc (CLDI) 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.
Are Calidi Biotherapeutics Inc's earnings high quality?
Calidi Biotherapeutics Inc (CLDI) has an earnings quality ratio of 1.07x, 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.
Can Calidi Biotherapeutics Inc cover its interest payments?
Calidi Biotherapeutics Inc (CLDI) has an interest coverage ratio of -202.4x, 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.