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Collplant Biotechnologies Ltd Financials

CLGN
Source SEC Filings (10-K/10-Q) Data as of Dec 31, 2025 Currency USD FYE December

This page shows Collplant Biotechnologies Ltd (CLGN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 9 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).

Rhea AI CLGN FY2025

Tiny commercial revenue and a still-large research base make CollPlant’s operating model a cash-runway story, not an earnings story.

In FY2025, free cash flow was -$9.4M and capex just $28K, so cash burn came from ongoing research and overhead rather than asset building. From FY2023 to FY2025, cash dropped from $26.7M to $5.6M, which signals a tightening runway even though liabilities remain modest.

Latest-year revenue reached $2.4M and gross margin recovered to 64.8%, showing the company can earn healthy contribution on the revenue it does book. But gross profit of $1.5M was dwarfed by combined R&D and SG&A of about $13.0M, so the commercial base is still far too small to support the cost structure.

Cash ended FY2025 at $5.6M against total liabilities of $4.7M, which means pressure is coming more from shrinking liquidity than from leverage. Current assets of $6.7M still covered current liabilities of $2.7M, but that cushion is much thinner than in earlier years.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 26 / 100
Financial Health Score 26/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Collplant Biotechnologies Ltd's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability
13

Collplant Biotechnologies Ltd has an operating margin of -484.3%, meaning the company retains $-484 of operating profit per $100 of revenue. This below-average margin results in a low score of 13/100, suggesting thin profitability after operating expenses. This is up from -3349.7% the prior year.

Growth
1

Collplant Biotechnologies Ltd's revenue surged 360.4% year-over-year to $2.4M, reflecting rapid business expansion. This strong growth earns a score of 1/100.

Leverage
52

Collplant Biotechnologies Ltd has a moderate D/E ratio of 0.77. This balance of debt and equity financing earns a leverage score of 52/100.

Liquidity
70

With a current ratio of 2.53, Collplant Biotechnologies Ltd holds $2.53 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 70/100.

Cash Flow
5

While Collplant Biotechnologies Ltd generated -$9.4M in operating cash flow, capex of $28K consumed most of it, leaving -$9.4M in free cash flow. This results in a low score of 5/100, reflecting heavy capital investment rather than weak cash generation.

Returns
13

Collplant Biotechnologies Ltd generates a -188.9% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 13/100. This is down from -123.4% the prior year.

Altman Z-Score Distress
-18.16

Collplant Biotechnologies Ltd scores -18.16, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($7.0M) relative to total liabilities ($4.7M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial
3/8

Collplant Biotechnologies Ltd passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Low Quality
0.82x

For every $1 of reported earnings, Collplant Biotechnologies Ltd generates $0.82 in operating cash flow (-$9.4M OCF vs -$11.5M 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

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Earnings & Revenue

Revenue
$2.4M
YoY+360.4%
5Y CAGR-17.3%

Collplant Biotechnologies Ltd generated $2.4M in revenue in fiscal year 2025. This represents an increase of 360.4% from the prior year.

EBITDA
-$10.6M
YoY+34.8%

Collplant Biotechnologies Ltd's EBITDA was -$10.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 34.8% from the prior year.

Net Income
-$11.5M
YoY+30.8%

Collplant Biotechnologies Ltd reported -$11.5M in net income in fiscal year 2025. This represents an increase of 30.8% from the prior year.

EPS (Diluted)
$-0.94
YoY+35.2%

Collplant Biotechnologies Ltd earned $-0.94 per diluted share (EPS) in fiscal year 2025. This represents an increase of 35.2% from the prior year.

Cash & Balance Sheet

Free Cash Flow
-$9.4M
YoY+35.2%

Collplant Biotechnologies Ltd generated -$9.4M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 35.2% from the prior year.

Cash & Debt
$5.6M
YoY-53.1%
5Y CAGR+10.9%

Collplant Biotechnologies Ltd held $5.6M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
13M
YoY+11.8%
5Y CAGR+13.0%

Collplant Biotechnologies Ltd had 13M shares outstanding in fiscal year 2025. This represents an increase of 11.8% from the prior year.

Margins & Returns

Gross Margin
64.8%
YoY+280.3pp
5Y CAGR+13.7pp

Collplant Biotechnologies Ltd's gross margin was 64.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 280.3 percentage points from the prior year.

Operating Margin
-484.3%
YoY+2865.4pp
5Y CAGR-393.1pp

Collplant Biotechnologies Ltd's operating margin was -484.3% in fiscal year 2025, reflecting core business profitability. This is up 2865.4 percentage points from the prior year.

Net Margin
-484.6%
YoY+2740.5pp
5Y CAGR-390.5pp

Collplant Biotechnologies Ltd's net profit margin was -484.6% in fiscal year 2025, showing the share of revenue converted to profit. This is up 2740.5 percentage points from the prior year.

Return on Equity
-188.9%
YoY-65.6pp
5Y CAGR-60.0pp

Collplant Biotechnologies Ltd's ROE was -188.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 65.6 percentage points from the prior year.

Capital Allocation

R&D Spending
$8.2M
YoY-22.1%
5Y CAGR+15.0%

Collplant Biotechnologies Ltd invested $8.2M in research and development in fiscal year 2025. This represents a decrease of 22.1% from the prior year.

Share Buybacks
N/A
Capital Expenditures
$28K
YoY-94.2%
5Y CAGR-42.3%

Collplant Biotechnologies Ltd invested $28K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 94.2% from the prior year.

CLGN Income Statement

Metric Q4'25 Q2'25 Q4'24 Q2'24 Q4'23 Q2'23 Q4'22 Q2'22
Revenue N/A $179K N/A $249K N/A $10.2M N/A $66K
Cost of Revenue N/A $186K N/A $536K N/A $615K N/A $43K
Gross Profit N/A -$7K N/A -$287K N/A $9.6M N/A $23K
R&D Expenses N/A $2.0M N/A $2.7M N/A $2.6M N/A $2.6M
SG&A Expenses N/A $1.2M N/A $1.4M N/A $1.3M N/A $1.6M
Operating Income N/A -$3.2M N/A -$4.4M N/A $5.7M N/A -$4.2M
Interest Expense N/A N/A N/A N/A N/A N/A N/A N/A
Income Tax N/A N/A N/A N/A N/A N/A N/A N/A
Net Income N/A -$3.3M N/A -$4.2M N/A $5.8M N/A -$4.3M
EPS (Diluted) N/A $0.28 N/A $0.37 N/A $0.49 N/A $-0.39

CLGN Balance Sheet

Metric Q4'25 Q2'25 Q4'24 Q2'24 Q4'23 Q2'23 Q4'22 Q2'22
Total Assets $10.8M-38.1% $17.4M-6.8% $18.7M-29.6% $26.6M-22.2% $34.1M-17.9% $41.6M+10.1% $37.8M-15.0% $44.4M
Current Assets $6.7M-46.6% $12.6M-4.2% $13.2M-35.2% $20.3M-27.4% $28.0M-19.6% $34.9M+10.1% $31.7M-17.3% $38.3M
Cash & Equivalents $5.6M-51.1% $11.4M-4.0% $11.9M-37.1% $18.9M-29.1% $26.7M+19.7% $22.3M-24.9% $29.7M-18.3% $36.3M
Inventory $573K+3.6% $553K+25.7% $440K+0.2% $439K-38.5% $714K-54.0% $1.6M+8.5% $1.4M+5.5% $1.4M
Accounts Receivable $1K N/A $150K-40.0% $250K N/A N/A $9K0.0% $9K
Goodwill N/A N/A N/A N/A N/A N/A N/A N/A
Total Liabilities $4.7M-4.6% $4.9M-6.0% $5.2M-10.1% $5.8M+0.9% $5.8M+4.6% $5.5M+0.8% $5.5M+11.8% $4.9M
Current Liabilities $2.7M-2.6% $2.7M-7.7% $3.0M-8.4% $3.2M-0.3% $3.3M+16.9% $2.8M-10.4% $3.1M+31.5% $2.4M
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A N/A
Total Equity $6.1M-51.4% $12.5M-7.1% $13.5M-35.0% $20.7M-26.9% $28.3M-21.4% $36.0M+11.6% $32.3M-18.3% $39.5M
Retained Earnings -$124.8M-5.7% -$118.1M-4.2% -$113.3M-7.8% -$105.1M-8.7% -$96.7M-10.3% -$87.7M+2.3% -$89.7M-10.8% -$80.9M

CLGN Cash Flow Statement

Metric Q4'25 Q2'25 Q4'24 Q2'24 Q4'23 Q2'23 Q4'22 Q2'22
Operating Cash Flow N/A N/A N/A N/A N/A N/A N/A N/A
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 N/A N/A N/A N/A N/A N/A N/A N/A
Financing Cash Flow N/A N/A N/A N/A N/A N/A N/A N/A
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

CLGN Financial Ratios

Metric Q4'25 Q2'25 Q4'24 Q2'24 Q4'23 Q2'23 Q4'22 Q2'22
Gross Margin N/A -3.9% N/A -115.3% N/A 94.0% N/A 34.8%
Operating Margin N/A -1775.4% N/A -1769.5% N/A 55.7% N/A -6340.9%
Net Margin N/A -1869.8% N/A -1690.8% N/A 56.6% N/A -6492.4%
Return on Equity N/A -26.8% N/A -20.3% N/A 16.0% N/A -10.8%
Return on Assets N/A -19.2% N/A -15.8% N/A 13.9% N/A -9.7%
Current Ratio 2.53-2.1 4.60+0.2 4.44-1.8 6.27-2.3 8.62-3.9 12.53+2.3 10.20-6.0 16.21
Debt-to-Equity 0.77+0.4 0.390.0 0.39+0.1 0.28+0.1 0.20+0.1 0.15-0.0 0.17+0.0 0.12
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

Collplant Biotechnologies Ltd (CLGN) reported $2.4M in total revenue for fiscal year 2025. This represents a 360.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Collplant Biotechnologies Ltd (CLGN) revenue grew by 360.4% year-over-year, from $515K to $2.4M in fiscal year 2025.

No, Collplant Biotechnologies Ltd (CLGN) reported a net income of -$11.5M in fiscal year 2025, with a net profit margin of -484.6%.

Collplant Biotechnologies Ltd (CLGN) reported diluted earnings per share of $-0.94 for fiscal year 2025. This represents a 35.2% 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.

Collplant Biotechnologies Ltd (CLGN) had EBITDA of -$10.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

Collplant Biotechnologies Ltd (CLGN) had a gross margin of 64.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Collplant Biotechnologies Ltd (CLGN) had an operating margin of -484.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Collplant Biotechnologies Ltd (CLGN) had a net profit margin of -484.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Collplant Biotechnologies Ltd (CLGN) has a return on equity of -188.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Collplant Biotechnologies Ltd (CLGN) generated -$9.4M in free cash flow during fiscal year 2025. This represents a 35.2% 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.

Collplant Biotechnologies Ltd (CLGN) generated -$9.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Collplant Biotechnologies Ltd (CLGN) had $10.8M in total assets as of fiscal year 2025, including both current and long-term assets.

Collplant Biotechnologies Ltd (CLGN) invested $28K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Collplant Biotechnologies Ltd (CLGN) invested $8.2M in research and development during fiscal year 2025.

Collplant Biotechnologies Ltd (CLGN) had 13M shares outstanding as of fiscal year 2025.

Collplant Biotechnologies Ltd (CLGN) had a current ratio of 2.53 as of fiscal year 2025, which is generally considered healthy.

Collplant Biotechnologies Ltd (CLGN) had a debt-to-equity ratio of 0.77 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Collplant Biotechnologies Ltd (CLGN) had a return on assets of -106.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Based on fiscal year 2025 data, Collplant Biotechnologies Ltd (CLGN) had $5.6M in cash against an annual operating cash burn of $9.4M. This gives an estimated cash runway of approximately 7 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.

Collplant Biotechnologies Ltd (CLGN) has an Altman Z-Score of -18.16, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Collplant Biotechnologies Ltd (CLGN) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Collplant Biotechnologies Ltd (CLGN) has an earnings quality ratio of 0.82x, 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.

Collplant Biotechnologies Ltd (CLGN) scores 26 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.

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