Connect Biopharma Holdings Ltd Financials
This page shows Connect Biopharma Holdings Ltd (CNTB) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 2 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
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Connect Biopharma Holdings Ltd has an operating margin of -86.2%, meaning the company retains $-86 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses.
Connect Biopharma Holdings Ltd carries a low D/E ratio of 0.10, meaning only $0.10 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 11.46, Connect Biopharma Holdings Ltd holds $11.46 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
While Connect Biopharma Holdings Ltd generated -$23.6M in operating cash flow, capex of $750K consumed most of it, leaving -$24.4M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Connect Biopharma Holdings Ltd passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Connect Biopharma Holdings Ltd generates $1.51 in operating cash flow (-$23.6M OCF vs -$15.6M 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
Connect Biopharma Holdings Ltd generated $26.0M in revenue in fiscal year 2024.
Connect Biopharma Holdings Ltd's EBITDA was -$21.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 68.1% from the prior year.
Connect Biopharma Holdings Ltd generated -$24.4M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 49.1% from the prior year.
Connect Biopharma Holdings Ltd reported -$15.6M in net income in fiscal year 2024. This represents an increase of 74.8% from the prior year.
Connect Biopharma Holdings Ltd earned $-0.28 per diluted share (EPS) in fiscal year 2024. This represents an increase of 75.2% from the prior year.
Connect Biopharma Holdings Ltd held $78.2M in cash against $0 in long-term debt as of fiscal year 2024.
Connect Biopharma Holdings Ltd had 55M shares outstanding in fiscal year 2024. This represents an increase of 0.4% from the prior year.
Connect Biopharma Holdings Ltd's operating margin was -86.2% in fiscal year 2024, reflecting core business profitability.
Connect Biopharma Holdings Ltd's net profit margin was -60.0% in fiscal year 2024, showing the share of revenue converted to profit.
Connect Biopharma Holdings Ltd invested $29.3M in research and development in fiscal year 2024. This represents a decrease of 44.8% from the prior year.
Connect Biopharma Holdings Ltd invested $750K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 825.9% from the prior year.
CNTB Income Statement
| Metric | Q3'25 | Q2'25 | Q3'24 | Q2'24 | Q4'23 |
|---|---|---|---|---|---|
| Revenue | $16K-66.7% | $48K-96.1% | $1.2M-94.9% | $24.1M | N/A |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | $11.1M+26.6% | $8.8M-2.6% | $9.0M+68.5% | $5.3M | N/A |
| SG&A Expenses | $6.6M+40.1% | $4.7M-22.4% | $6.1M+18.2% | $5.1M | N/A |
| Operating Income | -$17.7M-31.7% | -$13.4M+3.0% | -$13.8M-201.5% | $13.6M | N/A |
| Interest Expense | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $61K+10.9% | $55K-3.5% | $57K+90.0% | $30K | N/A |
| Net Income | -$17.2M-33.3% | -$12.9M-0.2% | -$12.9M-186.7% | $14.8M | N/A |
| EPS (Diluted) | $-0.31-34.8% | $-0.230.0% | $-0.23-185.2% | $0.27 | N/A |
CNTB Balance Sheet
| Metric | Q3'25 | Q2'25 | Q3'24 | Q2'24 | Q4'23 |
|---|---|---|---|---|---|
| Total Assets | $67.4M-18.6% | $82.7M-18.3% | $101.3M | N/A | $127.4M |
| Current Assets | $62.6M-19.5% | $77.8M-19.8% | $97.0M | N/A | $122.6M |
| Cash & Equivalents | $37.8M-6.9% | $40.6M-48.1% | $78.2M-28.8% | $109.8M+4.0% | $105.7M |
| Inventory | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $17K | $0-100.0% | $789K | N/A | $0 |
| Goodwill | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $12.0M+5.3% | $11.4M+24.8% | $9.1M | N/A | $25.9M |
| Current Liabilities | $11.4M+6.4% | $10.7M+26.9% | $8.5M | N/A | $25.3M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $55.4M-22.4% | $71.3M-22.6% | $92.2M-16.9% | $110.9M+9.3% | $101.5M |
| Retained Earnings | -$385.7M-4.7% | -$368.5M-6.7% | -$345.4M | N/A | -$329.7M |
CNTB Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q3'24 | Q2'24 | Q4'23 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$17.4M-38.2% | -$12.6M-442.9% | -$2.3M+69.9% | -$7.7M | N/A |
| Capital Expenditures | $34K-88.8% | $303K-3.2% | $313K+7.9% | $290K | N/A |
| Free Cash Flow | -$17.4M-35.3% | -$12.9M-389.9% | -$2.6M+67.0% | -$8.0M | N/A |
| Investing Cash Flow | $14.3M+179.7% | $5.1M+132.5% | -$15.8M-591.1% | $3.2M | N/A |
| Financing Cash Flow | $215K+33.5% | $161K+51.9% | $106K-12.4% | $121K | N/A |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A |
CNTB Financial Ratios
| Metric | Q3'25 | Q2'25 | Q3'24 | Q2'24 | Q4'23 |
|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | -110481.3%-82514.6pp | -27966.7%-26830.8pp | -1135.8%-1192.4pp | 56.6% | N/A |
| Net Margin | -107500.0%-80627.1pp | -26872.9%-25816.6pp | -1056.3%-1117.8pp | 61.6% | N/A |
| Return on Equity | N/A | N/A | N/A | 13.4% | N/A |
| Return on Assets | -25.5%-9.9pp | -15.6% | N/A | N/A | N/A |
| Current Ratio | 5.48-1.8 | 7.24-4.2 | 11.46 | N/A | 4.85 |
| Debt-to-Equity | 0.22+0.1 | 0.16+0.1 | 0.10 | N/A | 0.26 |
| FCF Margin | -109000.0%-82137.5pp | -26862.5%-25783.4pp | -1079.1%-1046.0pp | -33.1% | N/A |
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Frequently Asked Questions
What is Connect Biopharma Holdings Ltd's annual revenue?
Connect Biopharma Holdings Ltd (CNTB) reported $26.0M in total revenue for fiscal year 2024. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Is Connect Biopharma Holdings Ltd profitable?
No, Connect Biopharma Holdings Ltd (CNTB) reported a net income of -$15.6M in fiscal year 2024, with a net profit margin of -60.0%.
What is Connect Biopharma Holdings Ltd's earnings per share (EPS)?
Connect Biopharma Holdings Ltd (CNTB) reported diluted earnings per share of $-0.28 for fiscal year 2024. This represents a 75.2% 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.
What is Connect Biopharma Holdings Ltd's EBITDA?
Connect Biopharma Holdings Ltd (CNTB) had EBITDA of -$21.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Connect Biopharma Holdings Ltd's operating margin?
Connect Biopharma Holdings Ltd (CNTB) had an operating margin of -86.2% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Connect Biopharma Holdings Ltd's net profit margin?
Connect Biopharma Holdings Ltd (CNTB) had a net profit margin of -60.0% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Connect Biopharma Holdings Ltd's free cash flow?
Connect Biopharma Holdings Ltd (CNTB) generated -$24.4M in free cash flow during fiscal year 2024. This represents a 49.1% 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 Connect Biopharma Holdings Ltd's operating cash flow?
Connect Biopharma Holdings Ltd (CNTB) generated -$23.6M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Connect Biopharma Holdings Ltd's total assets?
Connect Biopharma Holdings Ltd (CNTB) had $101.3M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Connect Biopharma Holdings Ltd's capital expenditures?
Connect Biopharma Holdings Ltd (CNTB) invested $750K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Connect Biopharma Holdings Ltd spend on research and development?
Connect Biopharma Holdings Ltd (CNTB) invested $29.3M in research and development during fiscal year 2024.
How many shares does Connect Biopharma Holdings Ltd have outstanding?
Connect Biopharma Holdings Ltd (CNTB) had 55M shares outstanding as of fiscal year 2024.
What is Connect Biopharma Holdings Ltd's current ratio?
Connect Biopharma Holdings Ltd (CNTB) had a current ratio of 11.46 as of fiscal year 2024, which is generally considered healthy.
What is Connect Biopharma Holdings Ltd's debt-to-equity ratio?
Connect Biopharma Holdings Ltd (CNTB) had a debt-to-equity ratio of 0.10 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Connect Biopharma Holdings Ltd's return on assets (ROA)?
Connect Biopharma Holdings Ltd (CNTB) had a return on assets of -15.4% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Connect Biopharma Holdings Ltd's cash runway?
Based on fiscal year 2024 data, Connect Biopharma Holdings Ltd (CNTB) had $78.2M in cash against an annual operating cash burn of $23.6M. This gives an estimated cash runway of approximately 40 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 Connect Biopharma Holdings Ltd's Piotroski F-Score?
Connect Biopharma Holdings Ltd (CNTB) has a Piotroski F-Score of 3 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 Connect Biopharma Holdings Ltd's earnings high quality?
Connect Biopharma Holdings Ltd (CNTB) has an earnings quality ratio of 1.51x, 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.
How financially healthy is Connect Biopharma Holdings Ltd?
Connect Biopharma Holdings Ltd (CNTB) scores 50 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.