Clene Inc. (CLNN) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 8, 2026; every other figure is from the SEC filings on this page. Not financial advice.
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 CLNN SEC filings page.
Clene Inc. (CLNN) reported $200K in revenue for fiscal year 2025, down 41.5% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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).
Clene remains a development-stage business: revenue is shrinking while R&D and operating losses consume cash against a weakening balance sheet.
In FY2025, operating cash flow of-$18.5M nearly equaled free cash flow of-$18.6M because capital spending was only$39K , so the cash deficit reflects ongoing operating costs rather than heavy reinvestment. The same near-match appeared in FY2024, showing that reported losses are translating almost directly into cash use.
Revenue fell from
By FY2025, liabilities of
Financial Health Signals
Clene Inc. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Clene Inc. scores -27.18, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($55.7M) relative to total liabilities ($35.7M). 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.
Clene Inc. passes 1 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), neither operating efficiency signal passes.
Clene Inc. reported a net loss of $26.2M while operations used $18.5M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Clene Inc. reported an operating loss of $23.1M against $2.7M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Clene Inc. generated $90K in revenue in Q2 2026. This represents an increase of 233.3% from the same quarter a year earlier. Against the prior quarter it is up 500.0%.
Clene Inc.'s EBITDA was -$5.0M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 9.2% from the same quarter a year earlier. Against the prior quarter it is down 192.7%.
Clene Inc. reported -$13.4M in net income in Q2 2026. This represents a decrease of 80.9% from the same quarter a year earlier. Against the prior quarter it is down 65.9%.
Not reported for Q2 2026.
Cash & Balance Sheet
Clene Inc. held $9.7M in cash against $17.6M in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Clene Inc.'s gross margin was 60.0% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 40.0 percentage points from the same quarter a year earlier. Against the prior quarter it is down 40.0 percentage points.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not reported for Q2 2026.
Capital Allocation
Clene Inc. invested $3.5M in research and development in Q2 2026. This represents a decrease of 1.2% from the same quarter a year earlier. Against the prior quarter it is up 955.0%.
Not reported for Q2 2026.
Not reported for Q2 2026.
CLNN 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 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $90K+233.3% | $15K-81.5% | $77K-15.4% | $15K-82.8% | $27K-70.3% | $81K+11.0% | $91K-46.5% | $87K-19.4% |
| Cost of Revenue | $36K | $0-100.0% | $23K+27.8% | $0-100.0% | $0-100.0% | $20K+25.0% | $18K-52.6% | $18K+50.0% |
| Gross Profit | $54K+100.0% | $15K-75.4% | $54K-26.0% | $15K-78.3% | $27K-63.0% | $61K+7.0% | $73K-44.7% | $69K-28.1% |
| R&D Expenses | $3.5M-1.2% | $329K-77.8% | $5.5M-1.2% | $3.5M-21.4% | $3.5M-15.3% | $1.5M-74.8% | $5.6M-16.6% | $4.5M-25.1% |
| SG&A Expenses | $1.9M-18.8% | $1.7M-34.2% | $2.0M-35.3% | $2.1M-37.0% | $2.4M-28.3% | $2.7M-22.3% | $3.2M-6.8% | $3.4M-6.9% |
| Operating Income | -$5.3M+8.8% | -$2.1M+49.4% | -$7.5M+13.4% | -$5.6M+27.7% | -$5.9M+20.7% | -$4.1M+55.8% | -$8.7M+12.8% | -$7.8M+18.1% |
| EBITDA | -$5.0M+9.2% | -$1.7M+53.5% | -$7.1M+13.4% | -$5.3M+28.6% | -$5.5M+21.0% | -$3.7M+58.2% | -$8.2M+12.9% | -$7.4M+18.6% |
| Interest Expense | $695K+2.4% | $791K+30.1% | $746K+44.6% | $649K-36.5% | $679K-47.0% | $608K-51.1% | $516K-57.0% | $1.0M-14.0% |
| Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Income | -$13.4M-80.9% | -$8.1M-977.4% | -$9.2M+31.9% | -$8.8M-9.9% | -$7.4M-9.3% | -$751K+93.2% | -$13.5M-33.2% | -$8.0M-230.3% |
| EPS (Basic) | -$1.08-38.5% | -$0.69-666.7% | -$0.88+47.3% | -$0.85+30.3% | -$0.78+26.4% | -$0.09+94.8% | -$1.67-2683.3% | -$1.22-221.1% |
Not reported in any period shown, so not listed: EPS (Diluted), Diluted Shares (Avg).
CLNN 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 | $23.0M+4.1% | $21.7M-14.4% | $18.1M-33.7% | $22.3M-29.3% | $22.1M-45.1% | $25.3M-43.8% | $27.3M-47.8% | $31.6M-47.8% |
| Current Assets | $14.9M+24.4% | $13.0M-11.2% | $9.0M-44.4% | $12.7M-35.7% | $12.0M-57.1% | $14.7M-54.3% | $16.2M-58.4% | $19.7M-57.6% |
| Cash & Equivalents | $9.7M+32.8% | $5.9M-39.6% | $5.2M-57.3% | $7.9M-45.9% | $7.3M-66.4% | $9.8M-54.8% | $12.2M-57.8% | $14.6M-65.2% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0-100.0% | $0-100.0% | $0 |
| Inventory | $37K-53.2% | $54K+42.1% | $37K-45.6% | $61K-52.3% | $79K+113.5% | $38K+2.7% | $68K+83.8% | $128K+23.1% |
| Accounts Receivable | $43K | N/A | $0-100.0% | $0 | $0 | $0-100.0% | $64K-55.2% | $0-100.0% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $47.8M+55.9% | $40.5M+33.6% | $35.7M-1.3% | $34.7M-2.9% | $30.7M-24.9% | $30.3M-25.8% | $36.2M-7.1% | $35.7M-8.5% |
| Current Liabilities | $4.9M-35.9% | $6.7M-37.5% | $10.8M+4.7% | $8.3M-65.1% | $7.6M-73.0% | $10.8M-58.9% | $10.3M-59.4% | $23.8M+56.1% |
| Non-Current Liabilities | $43.0M+86.0% | $33.7M+72.8% | $24.9M-3.7% | $26.4M+122.2% | $23.1M+81.0% | $19.5M+33.5% | $25.9M+90.2% | $11.9M-50.1% |
| Long-Term Debt | $17.6M+6.9% | $17.7M+6.4% | $17.8M | $17.9M | $16.5M | $16.6M | N/A | N/A |
| Total Equity | -$24.8M-189.8% | -$18.8M-278.2% | -$17.6M-98.6% | -$12.4M-199.6% | -$8.6M-1596.4% | -$5.0M-216.6% | -$8.9M-166.1% | -$4.1M-119.3% |
| Retained Earnings | -$329.8M-13.6% | -$316.4M-11.8% | -$308.3M-9.3% | -$299.1M-11.4% | -$290.3M-11.4% | -$282.9M-11.5% | -$282.1M-16.2% | -$268.6M-15.5% |
Not reported in any period shown, so not listed: Goodwill.
CLNN 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 | -$2.6M+45.4% | -$4.5M+9.6% | -$4.8M+1.4% | -$4.0M-32.1% | -$4.7M+25.4% | -$5.0M+29.2% | -$4.9M+32.2% | -$3.0M+55.3% |
| Depreciation & Amortization | $353K-3.6% | $355K-12.1% | $360K-13.7% | $365K-12.7% | $366K-15.3% | $404K-9.6% | $417K-12.6% | $418K-8.1% |
| Stock-Based Compensation | $1.0M-23.9% | $1.3M-32.6% | N/A | $1.7M-22.2% | $1.4M-29.9% | $1.9M-3.3% | N/A | $2.2M-8.7% |
| Capital Expenditures | N/A | N/A | $28K+2700.0% | $11K+1000.0% | $0-100.0% | $0-100.0% | $1K-97.7% | $1K-97.9% |
| Free Cash Flow | N/A | N/A | -$4.8M+0.8% | -$4.0M-32.4% | -$4.7M+25.4% | -$5.0M+29.4% | -$4.9M+32.6% | -$3.0M+55.6% |
| Investing Cash Flow | -$1K | $0 | -$28K-1300.0% | -$11K-1000.0% | $0-100.0% | $0-100.0% | -$2K+100.0% | -$1K+97.9% |
| Financing Cash Flow | $6.3M+196.7% | $5.2M+95.8% | $2.1M-18.1% | $4.6M+214.2% | $2.1M+7517.9% | $2.7M+14168.4% | $2.5M+14144.4% | -$4.1M-1615.6% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
CLNN 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.
| 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 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 60.0%-40.0pp | 100.0%+24.7pp | 70.1%-10.1pp | 100.0%+20.7pp | 100.0%+19.8pp | 75.3%-2.8pp | 80.2%+2.6pp | 79.3%-9.6pp |
| Operating Margin | -5941.1% | -13740.0% | -9733.8% | -37653.3% | -21718.5% | -5032.1% | -9511.0% | -8982.8% |
| Net Margin | -14915.6% | -53940.0% | -11981.8% | -58513.3% | -27477.8% | -927.2% | -14889.0% | -9179.3% |
| Return on Assets | -58.3%-24.7pp | -37.4%-34.4pp | -50.9%-1.3pp | -39.3%-14.0pp | -33.5%-16.7pp | -3.0%+21.6pp | -49.6%-30.1pp | -25.3%-21.3pp |
| Current Ratio | 3.07+1.5x | 1.94+0.6x | 0.83-0.7x | 1.53+0.7x | 1.58+0.6x | 1.36+0.1x | 1.570.0x | 0.83-2.2x |
| Asset Turnover | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x |
| FCF Margin | N/A | N/A | -6268.8% | -26686.7% | -17570.4% | -6186.4% | -5347.3% | -3475.9% |
Not reported in any period shown, so not listed: Return on Equity, Debt-to-Equity.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Note: Shareholder equity is negative (-$17.6M), 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 (0.83), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Clene Inc. CLNN | FY2025 | $200K | -$26.2M | N/A | $55.7M | — |
| Agape ATP Corporation ATPC | FY2025 | $1.5M | -$2.3M | N/A | $2.0M | 33/100 |
| Paranovus Entertainment Technology Ltd. PAVS | FY2026 | $14.6M | -$12.7M | -87.2% | $3.3M | 77/100 |
| Borealis Foods Inc. BRLS | FY2025 | $30.1M | -$19.0M | -63.1% | $25.5M | 22/100 |
| Laird Superfood, Inc. LSF | FY2025 | $49.9M | -$3.3M | -6.5% | $34.9M | 50/100 |
| Farmer Bros Co FARM | FY2025 | $342.3M | -$14.5M | -4.2% | $28.1M | 23/100 |
Where Clene Inc. Ranks
Frequently Asked Questions
What is Clene Inc.'s annual revenue?
Clene Inc. (CLNN) reported $200K in total revenue for fiscal year 2025. This represents a -41.5% 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.
How fast is Clene Inc.'s revenue growing?
Clene Inc. (CLNN) revenue declined by 41.5% year-over-year, from $342K to $200K in fiscal year 2025.
Is Clene Inc. profitable?
No, Clene Inc. (CLNN) reported a net income of -$26.2M in fiscal year 2025.
What is Clene Inc.'s EBITDA?
Clene Inc. (CLNN) had EBITDA of -$21.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Clene Inc. have?
As of fiscal year 2025, Clene Inc. (CLNN) had $5.2M in cash and equivalents against $17.8M in long-term debt.
What is Clene Inc.'s gross margin?
Clene Inc. (CLNN) had a gross margin of 78.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Clene Inc.'s free cash flow?
Clene Inc. (CLNN) recorded an outflow of $18.6M in free cash flow during fiscal year 2025. This represents a 12.9% 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 Clene Inc.'s operating cash flow?
Clene Inc. (CLNN) recorded an outflow of $18.5M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Clene Inc.'s total assets?
Clene Inc. (CLNN) had $18.1M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Clene Inc.'s capital expenditures?
Clene Inc. (CLNN) invested $39K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Clene Inc. spend on research and development?
Clene Inc. (CLNN) invested $14.0M in research and development during fiscal year 2025.
What is Clene Inc.'s current ratio?
Clene Inc. (CLNN) had a current ratio of 0.83 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Clene Inc.'s return on assets (ROA)?
Clene Inc. (CLNN) had a return on assets of -144.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Clene Inc.'s P/E ratio?
Clene Inc. (CLNN) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $55.7M as of Oct 8, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Clene Inc.'s price-to-sales ratio?
Clene Inc. (CLNN) trades at 283x sales, its market capitalization divided by revenue of $197K revenue, trailing 12 months to June 30, 2026. The market capitalization is $55.7M as of Oct 8, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Clene Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Clene Inc. (CLNN) held $5.2M in cash, cash equivalents and investments, and reported an operating cash outflow of $18.5M over that year. Dividing the one by the other, the reported balance equals about 3 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Why is Clene Inc.'s debt-to-equity ratio negative or not reported?
Clene Inc. (CLNN) has negative shareholder equity of -$17.6M 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.
What is Clene Inc.'s Altman Z-Score?
Clene Inc. (CLNN) has an Altman Z-Score of -27.18, 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.
What is Clene Inc.'s Piotroski F-Score?
Clene Inc. (CLNN) has a Piotroski F-Score of 1 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.
Are Clene Inc.'s earnings high quality?
Clene Inc. (CLNN) reported a net loss of $26.2M while operations used $18.5M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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 Clene Inc. cover its interest payments?
Clene Inc. (CLNN) reported an operating loss of $23.1M against $2.7M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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.