Cargo Therapeutics Financials
This page shows Cargo Therapeutics (CRGX) 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
Cargo Therapeutics passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
For every $1 of reported earnings, Cargo Therapeutics generates $0.83 in operating cash flow (-$139.7M OCF vs -$167.5M 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
Cargo Therapeutics's EBITDA was -$184.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 94.0% from the prior year.
Cargo Therapeutics generated -$144.2M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 61.2% from the prior year.
Cargo Therapeutics reported -$167.5M in net income in fiscal year 2024. This represents a decrease of 70.7% from the prior year.
Cargo Therapeutics earned $-3.72 per diluted share (EPS) in fiscal year 2024. This represents an increase of 77.5% from the prior year.
Cargo Therapeutics held $64.4M in cash against $0 in long-term debt as of fiscal year 2024.
Cargo Therapeutics had 46M shares outstanding in fiscal year 2024. This represents an increase of 11.7% from the prior year.
Cargo Therapeutics invested $143.4M in research and development in fiscal year 2024. This represents an increase of 89.2% from the prior year.
Cargo Therapeutics invested $4.4M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 46.3% from the prior year.
CRGX Income Statement
| Metric | Q2'25 | Q2'25 | Q2'24 | Q3'24 | Q2'24 | Q2'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| 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 | $7.5M-75.5% | $30.6M | N/A | $35.9M-4.1% | $37.5M+22.8% | $30.5M | N/A | $22.2M |
| SG&A Expenses | $8.3M-27.9% | $11.5M | N/A | $11.2M-5.7% | $11.9M+15.1% | $10.3M | N/A | $6.5M |
| Operating Income | -$52.9M+40.2% | -$88.4M | N/A | -$47.1M+4.5% | -$49.3M-20.9% | -$40.8M | N/A | -$28.7M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $0 |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$49.9M+40.9% | -$84.5M | N/A | -$41.9M+5.5% | -$44.3M-23.8% | -$35.8M | N/A | -$35.5M |
| EPS (Diluted) | $-1.04+41.2% | $-1.77 | N/A | $-0.88+13.7% | $-1.02-17.2% | $-0.87 | N/A | $-47.37 |
CRGX Balance Sheet
| Metric | Q2'25 | Q2'25 | Q2'24 | Q3'24 | Q2'24 | Q2'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $258.6M-28.6% | $362.0M-12.6% | $414.1M-8.2% | $451.0M-8.0% | $490.0M+16.0% | $422.4M-6.8% | $453.0M+449.7% | $82.4M |
| Current Assets | $258.6M-20.4% | $324.8M-5.9% | $345.0M-15.9% | $410.0M-8.5% | $448.1M+17.9% | $379.9M-7.2% | $409.5M+545.7% | $63.4M |
| Cash & Equivalents | $107.7M+74.4% | $61.8M-4.1% | $64.4M-9.5% | $71.2M-53.7% | $153.6M+88.4% | $81.5M-79.9% | $405.7M+572.4% | $60.3M |
| 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 | $20.9M-73.7% | $79.5M+47.7% | $53.8M+7.5% | $50.1M-7.1% | $53.9M+9.5% | $49.2M+3.3% | $47.6M-75.1% | $191.7M |
| Current Liabilities | $20.9M-59.4% | $51.6M+106.0% | $25.0M+15.6% | $21.6M-18.1% | $26.4M+16.7% | $22.6M+7.0% | $21.2M-48.6% | $41.1M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $237.7M-15.8% | $282.5M-21.6% | $360.2M-10.1% | $400.9M-8.1% | $436.1M+16.9% | $373.2M-7.9% | $405.4M+470.8% | -$109.3M |
| Retained Earnings | -$447.1M-12.6% | -$397.1M-27.0% | -$312.6M-17.0% | -$267.2M-18.6% | -$225.3M-24.5% | -$181.0M-24.7% | -$145.1M-28.4% | -$113.1M |
CRGX Cash Flow Statement
| Metric | Q2'25 | Q2'25 | Q2'24 | Q3'24 | Q2'24 | Q2'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$77.4M-105.3% | -$37.7M-8.0% | -$34.9M+12.0% | -$39.6M-12.9% | -$35.1M-16.4% | -$30.1M-4.0% | -$29.0M-24.8% | -$23.2M |
| Capital Expenditures | $99K-74.1% | $382K-39.4% | $630K-40.8% | $1.1M-27.2% | $1.5M+13.5% | $1.3M-50.7% | $2.6M-27.4% | $3.6M |
| Free Cash Flow | -$77.5M-103.5% | -$38.1M-7.2% | -$35.5M+12.7% | -$40.7M-11.3% | -$36.5M-16.3% | -$31.4M+0.5% | -$31.6M-17.8% | -$26.8M |
| Investing Cash Flow | $123.4M+252.0% | $35.0M+24.0% | $28.3M+165.5% | -$43.2M-1239.1% | $3.8M+101.3% | -$294.0M-9784.2% | -$3.0M+23.8% | -$3.9M |
| Financing Cash Flow | $5K-86.8% | $38K+121.3% | -$178K-144.3% | $402K-99.6% | $103.3M+99474.0% | -$104K-100.0% | $377.9M+738.0% | $45.1M |
| 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 |
CRGX Financial Ratios
| Metric | Q2'25 | Q2'25 | Q2'24 | Q3'24 | Q2'24 | Q2'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| 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 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -19.3%+4.0pp | -23.3% | N/A | -9.3%-0.2pp | -9.0%-0.6pp | -8.5% | N/A | -43.0% |
| Current Ratio | 12.37+6.1 | 6.30-7.5 | 13.79-5.2 | 18.95+2.0 | 16.96+0.2 | 16.78-2.6 | 19.35+17.8 | 1.54 |
| Debt-to-Equity | 0.09-0.2 | 0.28+0.1 | 0.15+0.0 | 0.120.0 | 0.120.0 | 0.13+0.0 | 0.12+1.9 | -1.75 |
| 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 Cargo Therapeutics profitable?
No, Cargo Therapeutics (CRGX) reported a net income of -$167.5M in fiscal year 2024.
What is Cargo Therapeutics's earnings per share (EPS)?
Cargo Therapeutics (CRGX) reported diluted earnings per share of $-3.72 for fiscal year 2024. This represents a 77.5% 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 Cargo Therapeutics's EBITDA?
Cargo Therapeutics (CRGX) had EBITDA of -$184.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Cargo Therapeutics's free cash flow?
Cargo Therapeutics (CRGX) generated -$144.2M in free cash flow during fiscal year 2024. This represents a -61.2% 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.
What is Cargo Therapeutics's operating cash flow?
Cargo Therapeutics (CRGX) generated -$139.7M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Cargo Therapeutics's total assets?
Cargo Therapeutics (CRGX) had $414.1M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Cargo Therapeutics's capital expenditures?
Cargo Therapeutics (CRGX) invested $4.4M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Cargo Therapeutics spend on research and development?
Cargo Therapeutics (CRGX) invested $143.4M in research and development during fiscal year 2024.
How many shares does Cargo Therapeutics have outstanding?
Cargo Therapeutics (CRGX) had 46M shares outstanding as of fiscal year 2024.
What is Cargo Therapeutics's current ratio?
Cargo Therapeutics (CRGX) had a current ratio of 13.79 as of fiscal year 2024, which is generally considered healthy.
What is Cargo Therapeutics's debt-to-equity ratio?
Cargo Therapeutics (CRGX) had a debt-to-equity ratio of 0.15 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Cargo Therapeutics's return on assets (ROA)?
Cargo Therapeutics (CRGX) had a return on assets of -40.5% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Cargo Therapeutics's cash runway?
Based on fiscal year 2024 data, Cargo Therapeutics (CRGX) had $64.4M in cash against an annual operating cash burn of $139.7M. 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 Cargo Therapeutics's Piotroski F-Score?
Cargo Therapeutics (CRGX) 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 Cargo Therapeutics's earnings high quality?
Cargo Therapeutics (CRGX) has an earnings quality ratio of 0.83x, 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.