What is Calidi Biotherapeutics's earnings per share (EPS)?

Calidi Biotherapeutics (CLDWW) reported diluted earnings per share of $-2.97 for fiscal year 2024. This represents a 82.9% change compared to the previous fiscal year. 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.

Calidi Biotherapeutics Financials

CLDWW

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Calidi Biotherapeutics (CLDWW) 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

Piotroski F-Score Neutral

5/9

Calidi Biotherapeutics passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, all 3 leverage/liquidity signals pass.

Earnings Quality Low Quality

0.89x

For every $1 of reported earnings, Calidi Biotherapeutics generates $0.89 in operating cash flow (-$19.7M OCF vs -$22.1M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-31.1x

Calidi Biotherapeutics earns $-31.1 in operating income for every $1 of interest expense (-$21.8M vs $700K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

-$21.4M

YoY+25.3%

Calidi Biotherapeutics's EBITDA was -$21.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 25.3% from the prior year.

Net Income

-$22.1M

YoY+24.2%

Calidi Biotherapeutics reported -$22.1M in net income in fiscal year 2024. This represents an increase of 24.2% from the prior year.

EPS (Diluted)

$-2.97

YoY+82.9%

Calidi Biotherapeutics earned $-2.97 per diluted share (EPS) in fiscal year 2024. This represents an increase of 82.9% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$9.6M

YoY+343.0%

Calidi Biotherapeutics held $9.6M in cash against $600K in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

YoY-51.3%

Calidi Biotherapeutics had 2M shares outstanding in fiscal year 2024. This represents a decrease of 51.3% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-1443.5%

Calidi Biotherapeutics's ROE was -1443.5% in fiscal year 2024, measuring profit generated per dollar of shareholder equity.

Capital Allocation

R&D Spending

$8.9M

YoY-31.7%

Calidi Biotherapeutics invested $8.9M in research and development in fiscal year 2024. This represents a decrease of 31.7% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

CLDWW Income Statement

Metric	FY24	FY23	FY22
Revenue	N/A	N/A	$45K
Cost of Revenue	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A
R&D Expenses	$8.9M-31.7%	$13.0M+79.2%	$7.3M
SG&A Expenses	$12.9M-19.3%	$16.0M+0.5%	$15.9M
Operating Income	-$21.8M+24.9%	-$29.0M-25.4%	-$23.1M
Interest Expense	$700K-36.4%	$1.1M+450.0%	$200K
Income Tax	$14K-12.5%	$16K+45.5%	$11K
Net Income	-$22.1M+24.2%	-$29.2M-14.9%	-$25.4M
EPS (Diluted)	$-2.97+82.9%	$-17.33-679.6%	$2.99

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
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-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

CLDWW Balance Sheet

Metric	FY24	FY23	FY22
Total Assets	$14.2M+41.6%	$10.0M+285.8%	$2.6M
Current Assets	$10.2M+137.7%	$4.3M+447.5%	$786K
Cash & Equivalents	$9.6M+343.0%	$2.2M+267.3%	$590K
Inventory	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	$870
Goodwill	N/A	N/A	N/A
Total Liabilities	$12.2M-33.1%	$18.3M-65.6%	$53.0M
Current Liabilities	$9.5M-7.2%	$10.2M-76.2%	$43.0M
Long-Term Debt	$600K-70.9%	$2.1M	N/A
Total Equity	$1.5M+118.6%	-$8.2M+83.7%	-$50.4M
Retained Earnings	-$121.7M-22.2%	-$99.6M-41.5%	-$70.4M

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
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

CLDWW Cash Flow Statement

Metric	FY24	FY23	FY22
Operating Cash Flow	-$19.7M+27.0%	-$27.0M-104.2%	-$13.2M
Capital Expenditures	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A
Investing Cash Flow	-$16K+96.7%	-$478K+3.2%	-$494K
Financing Cash Flow	$27.4M-5.8%	$29.0M+140.3%	$12.1M
Dividends Paid	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
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

CLDWW Financial Ratios

Metric	FY24	FY23	FY22
Gross Margin	N/A	N/A	N/A
Operating Margin	N/A	N/A	-51395.6%
Net Margin	N/A	N/A	-56504.4%
Return on Equity	-1443.5%	N/A	N/A
Return on Assets	-156.1%+135.5pp	-291.6%+687.5pp	-979.1%
Current Ratio	1.08+0.7	0.42+0.4	0.02
Debt-to-Equity	0.39+0.6	-0.25+0.8	-1.05
FCF Margin	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
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	-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

Frequently Asked Questions

Is Calidi Biotherapeutics profitable?

No, Calidi Biotherapeutics (CLDWW) reported a net income of -$22.1M in fiscal year 2024.

What is Calidi Biotherapeutics's EBITDA?

Calidi Biotherapeutics (CLDWW) had EBITDA of -$21.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Calidi Biotherapeutics have?

As of fiscal year 2024, Calidi Biotherapeutics (CLDWW) had $9.6M in cash and equivalents against $600K in long-term debt.

What is Calidi Biotherapeutics's return on equity (ROE)?

Calidi Biotherapeutics (CLDWW) has a return on equity of -1443.5% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Calidi Biotherapeutics's operating cash flow?

Calidi Biotherapeutics (CLDWW) generated -$19.7M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Calidi Biotherapeutics's total assets?

Calidi Biotherapeutics (CLDWW) had $14.2M in total assets as of fiscal year 2024, including both current and long-term assets.

How much does Calidi Biotherapeutics spend on research and development?

Calidi Biotherapeutics (CLDWW) invested $8.9M in research and development during fiscal year 2024.

How many shares does Calidi Biotherapeutics have outstanding?

Calidi Biotherapeutics (CLDWW) had 2M shares outstanding as of fiscal year 2024.

What is Calidi Biotherapeutics's current ratio?

Calidi Biotherapeutics (CLDWW) had a current ratio of 1.08 as of fiscal year 2024, which is considered adequate.

What is Calidi Biotherapeutics's debt-to-equity ratio?

Calidi Biotherapeutics (CLDWW) had a debt-to-equity ratio of 0.39 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Calidi Biotherapeutics's return on assets (ROA)?

Calidi Biotherapeutics (CLDWW) had a return on assets of -156.1% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Calidi Biotherapeutics's cash runway?

Based on fiscal year 2024 data, Calidi Biotherapeutics (CLDWW) had $9.6M in cash against an annual operating cash burn of $19.7M. 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's Piotroski F-Score?

Calidi Biotherapeutics (CLDWW) has a Piotroski F-Score of 5 out of 9, indicating neutral 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's earnings high quality?

Calidi Biotherapeutics (CLDWW) has an earnings quality ratio of 0.89x, 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 cover its interest payments?

Calidi Biotherapeutics (CLDWW) has an interest coverage ratio of -31.1x, 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.