CARGO Therapeutics, Inc. (CRGX) Financials
Newest figures come from the 10-Q for Q2 FY2025, filed Aug 6, 2025. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CRGX SEC filings page.
This page shows CARGO Therapeutics, Inc. (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, 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.
CARGO Therapeutics, Inc. passes 1 of 6 computable financial strength tests (3 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).
CARGO Therapeutics, Inc. reported a net loss of $167.5M while operations used $139.7M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
CARGO Therapeutics, Inc.'s EBITDA was -$52.9M in Q2 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 8.5% from the same quarter a year earlier. Against the prior quarter it is up 39.8%.
CARGO Therapeutics, Inc. reported -$49.9M in net income in Q2 2025. This represents a decrease of 12.6% from the same quarter a year earlier. Against the prior quarter it is up 40.9%.
CARGO Therapeutics, Inc. earned -$1.04 per diluted share (EPS) in Q2 2025. This represents a decrease of 2.0% from the same quarter a year earlier. Against the prior quarter it is up 41.2%.
Not reported for Q2 2025.
Cash & Balance Sheet
CARGO Therapeutics, Inc. recorded an outflow of $77.5M in free cash flow in Q2 2025, representing a cash shortfall after capex. This represents a decrease of 112.0% from the same quarter a year earlier. Against the prior quarter it is down 103.5%.
CARGO Therapeutics, Inc. held $107.7M in cash as of Q2 2025; long-term debt is not reported for that period.
Not reported for Q2 2025.
Margins & Returns
CARGO Therapeutics, Inc.'s ROE was -21.0% in Q2 2025, measuring profit generated per dollar of shareholder equity. This is down 10.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 8.9 percentage points.
Not reported for Q2 2025.
Not reported for Q2 2025.
Not reported for Q2 2025.
Capital Allocation
CARGO Therapeutics, Inc. invested $7.5M in research and development in Q2 2025. This represents a decrease of 80.0% from the same quarter a year earlier. Against the prior quarter it is down 75.5%.
CARGO Therapeutics, Inc. invested $99K in capex in Q2 2025, funding long-term assets and infrastructure. This represents a decrease of 93.2% from the same quarter a year earlier. Against the prior quarter it is down 74.1%.
Not reported for Q2 2025.
CRGX 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 | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K | Q3'2310-Q |
|---|---|---|---|---|---|---|---|---|
| R&D Expenses | $7.5M-80.0% | $30.6M+0.4% | N/A | $35.9M+61.6% | $37.5M+168.9% | $30.5M+142.8% | N/A | $22.2M+162.5% |
| SG&A Expenses | $8.3M-30.1% | $11.5M+11.7% | N/A | $11.2M+72.6% | $11.9M+206.7% | $10.3M+283.7% | N/A | $6.5M+310.0% |
| Operating Income | -$52.9M-7.3% | -$88.4M-116.7% | N/A | -$47.1M-64.1% | -$49.3M-177.1% | -$40.8M-167.6% | N/A | -$28.7M-185.7% |
| EBITDA | -$52.9M-8.5% | -$87.8M-118.0% | N/A | -$46.4M-64.5% | -$48.7M-178.5% | -$40.3M-167.7% | N/A | -$28.2M-183.6% |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $0-100.0% |
| Net Income | -$49.9M-12.6% | -$84.5M-136.0% | N/A | -$41.9M-18.1% | -$44.3M-148.4% | -$35.8M-180.9% | N/A | -$35.5M-188.7% |
| EPS (Basic) | -$1.04-2.0% | -$1.77-103.4% | -$0.95-101.2% | -$0.88+98.1% | -$1.02+96.2% | -$0.87+95.9% | $81.62+423.4% | -$47.37-66.9% |
| EPS (Diluted) | -$1.04-2.0% | -$1.77-103.4% | -$0.95-101.2% | -$0.88 | -$1.02 | -$0.87 | $81.62 | -$47.37 |
| Diluted Shares (Avg) | 48M+11.0% | 48M+16.7% | N/A | 48M | 43M | 41M | N/A | 748,862 |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Income Tax.
CRGX 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 | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K | Q3'2310-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $258.6M-47.2% | $362.0M-14.3% | $414.1M-8.6% | $451.0M+447.2% | $490.0M | $422.4M | $453.0M+4322.9% | $82.4M |
| Current Assets | $258.6M-42.3% | $324.8M-14.5% | $345.0M-15.7% | $410.0M+546.6% | $448.1M | $379.9M | $409.5M+10327.2% | $63.4M |
| Cash & Equivalents | $107.7M-29.8% | $61.8M-24.2% | $64.4M-84.1% | $71.2M+18.0% | $153.6M+262.5% | $81.5M+38.7% | $405.7M+21573.7% | $60.3M |
| Short-Term Investments | $144.8M-50.0% | $257.1M-12.7% | $275.3M | $333.7M | $289.9M | $294.4M | $0 | $0 |
| Long-Term Investments | $0 | $12.4M | $28.4M | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $20.9M-61.2% | $79.5M+61.5% | $53.8M+13.0% | $50.1M-73.9% | $53.9M | $49.2M | $47.6M+4.8% | $191.7M |
| Current Liabilities | $20.9M-20.9% | $51.6M+127.6% | $25.0M+18.3% | $21.6M-47.4% | $26.4M | $22.6M | $21.2M-52.1% | $41.1M |
| Non-Current Liabilities | $0-100.0% | $27.9M+5.2% | $28.8M+8.7% | $28.4M-81.1% | $27.5M | $26.6M | $26.5M+1873.8% | $150.6M |
| Total Equity | $237.7M-45.5% | $282.5M-24.3% | $360.2M-11.1% | $400.9M+466.7% | $436.1M+681.6% | $373.2M+746.1% | $405.4M+1250.5% | -$109.3M-407.9% |
| Retained Earnings | -$447.1M-98.4% | -$397.1M-119.5% | -$312.6M-115.4% | -$267.2M-136.3% | -$225.3M | -$181.0M | -$145.1M-208.8% | -$113.1M |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
CRGX 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 | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K | Q3'2310-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$77.4M-120.6% | -$37.7M-25.0% | -$34.9M-20.4% | -$39.6M-70.7% | -$35.1M-135.4% | -$30.1M-114.4% | -$29.0M-155.3% | -$23.2M |
| Depreciation & Amortization | $40K-93.3% | $672K+21.5% | $781K+47.1% | $700K+40.0% | $600K+100.0% | $553K+159.6% | $531K+212.4% | $500K+400.0% |
| Stock-Based Compensation | N/A | $6.9M+76.1% | N/A | N/A | N/A | $3.9M+12493.5% | N/A | N/A |
| Capital Expenditures | $99K-93.2% | $382K-70.4% | $630K-75.9% | $1.1M-70.5% | $1.5M-2.0% | $1.3M+129.8% | $2.6M+165.4% | $3.6M |
| Free Cash Flow | -$77.5M-112.0% | -$38.1M-21.1% | -$35.5M-12.4% | -$40.7M-51.7% | -$36.5M-122.9% | -$31.4M-115.0% | -$31.6M-156.2% | -$26.8M |
| Investing Cash Flow | $123.4M+3154.0% | $35.0M+111.9% | $28.3M+1050.5% | -$43.2M-1005.8% | $3.8M+353.7% | -$294.0M-47388.9% | -$3.0M-190.4% | -$3.9M |
| Financing Cash Flow | $5K-100.0% | $38K+136.5% | -$178K-100.0% | $402K-99.1% | $103.3M+5167350.0% | -$104K-100.1% | $377.9M+2871.0% | $45.1M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
CRGX 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 | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K | Q3'2310-Q |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | -21.0%-10.8pp | -29.9%-20.3pp | N/A | -10.4% | -10.2% | -9.6% | N/A | N/A |
| Return on Assets | -19.3%-10.3pp | -23.3%-14.9pp | N/A | -9.3%+33.8pp | -9.0% | -8.5% | N/A | -43.0% |
| Current Ratio | 12.37-4.6x | 6.30-10.5x | 13.79-5.6x | 18.95+17.4x | 16.96 | 16.78 | 19.35+19.3x | 1.54 |
| Debt-to-Equity | 0.090.0x | 0.28+0.1x | 0.150.0x | 0.12 | 0.12 | 0.13 | 0.12 | N/A |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Asset Turnover, FCF Margin.
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 |
|---|---|---|---|---|---|---|
| CARGO Therapeutics, Inc. CRGX | FY2024 | N/A | -$167.5M | N/A | $216.2M | — |
| Tiziana Life Sciences Ltd. TLSA | FY2025 | N/A | -$18.4M | N/A | $98.0M | — |
| Allogene Therapeutics, Inc. ALLO | FY2025 | $0 | -$190.9M | N/A | $583.9M | — |
| PUMA BIOTECHNOLOGY INC PBYI | FY2025 | $228.4M | $31.1M | 13.6% | $484.7M | 69/100 |
| Tenaya Therapeutics, Inc. TNYA | FY2025 | N/A | -$90.6M | N/A | $147.5M | — |
| Cognition Therapeutics, Inc. CGTX | FY2025 | N/A | -$23.5M | N/A | $97.0M | — |
Where CARGO Therapeutics, Inc. Ranks
Frequently Asked Questions
Is CARGO Therapeutics, Inc. profitable?
No, CARGO Therapeutics, Inc. (CRGX) reported a net income of -$167.5M in fiscal year 2024.
What is CARGO Therapeutics, Inc.'s EBITDA?
CARGO Therapeutics, Inc. (CRGX) had EBITDA of -$184.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is CARGO Therapeutics, Inc.'s return on equity (ROE)?
CARGO Therapeutics, Inc. (CRGX) has a return on equity of -46.5% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is CARGO Therapeutics, Inc.'s free cash flow?
CARGO Therapeutics, Inc. (CRGX) recorded an outflow of $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, Inc.'s operating cash flow?
CARGO Therapeutics, Inc. (CRGX) recorded an outflow of $139.7M in operating cash flow during fiscal year 2024, representing cash used by core business activities.
What are CARGO Therapeutics, Inc.'s total assets?
CARGO Therapeutics, Inc. (CRGX) had $414.1M in total assets as of fiscal year 2024, including both current and long-term assets.
What are CARGO Therapeutics, Inc.'s capital expenditures?
CARGO Therapeutics, Inc. (CRGX) invested $4.4M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does CARGO Therapeutics, Inc. spend on research and development?
CARGO Therapeutics, Inc. (CRGX) invested $143.4M in research and development during fiscal year 2024.
What is CARGO Therapeutics, Inc.'s current ratio?
CARGO Therapeutics, Inc. (CRGX) had a current ratio of 13.79 as of fiscal year 2024, which is generally considered healthy.
What is CARGO Therapeutics, Inc.'s debt-to-equity ratio?
CARGO Therapeutics, Inc. (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, Inc.'s return on assets (ROA)?
CARGO Therapeutics, Inc. (CRGX) had a return on assets of -40.5% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
How does CARGO Therapeutics, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2024, CARGO Therapeutics, Inc. (CRGX) held $368.1M in cash, cash equivalents and investments, and reported an operating cash outflow of $139.7M over that year. Dividing the one by the other, the reported balance equals about 32 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.
What is CARGO Therapeutics, Inc.'s Piotroski F-Score?
CARGO Therapeutics, Inc. (CRGX) has a Piotroski F-Score of 1 out of 6 computable signals; 3 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 CARGO Therapeutics, Inc.'s earnings high quality?
CARGO Therapeutics, Inc. (CRGX) reported a net loss of $167.5M while operations used $139.7M 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.