Cue Biopharma Inc Financials
This page shows Cue Biopharma Inc (CUE) 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).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Cue Biopharma Inc has an operating margin of -96.7%, meaning the company retains $-97 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. This is up from -446.9% the prior year.
Cue Biopharma Inc's revenue surged 195.7% year-over-year to $27.5M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Cue Biopharma Inc carries a low D/E ratio of 0.60, meaning only $0.60 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 90/100, indicating a strong balance sheet with room for future borrowing.
Cue Biopharma Inc's current ratio of 2.74 indicates adequate short-term liquidity, earning a score of 52/100. The company can meet its near-term obligations, though with limited headroom.
While Cue Biopharma Inc generated -$21.7M in operating cash flow, capex of $177K consumed most of it, leaving -$21.9M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Cue Biopharma Inc generates a -100.6% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -232.4% the prior year.
Cue Biopharma Inc passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Cue Biopharma Inc generates $0.82 in operating cash flow (-$21.7M OCF vs -$26.6M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Cue Biopharma Inc earns $-265.5 in operating income for every $1 of interest expense (-$26.6M vs $100K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Cue Biopharma Inc generated $27.5M in revenue in fiscal year 2025. This represents an increase of 195.7% from the prior year.
Cue Biopharma Inc's EBITDA was -$25.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 37.7% from the prior year.
Cue Biopharma Inc reported -$26.6M in net income in fiscal year 2025. This represents an increase of 34.6% from the prior year.
Cue Biopharma Inc earned $-0.28 per diluted share (EPS) in fiscal year 2025. This represents an increase of 61.1% from the prior year.
Cash & Balance Sheet
Cue Biopharma Inc generated -$21.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 39.9% from the prior year.
Cue Biopharma Inc held $27.1M in cash against $0 in long-term debt as of fiscal year 2025.
Cue Biopharma Inc had 97M shares outstanding in fiscal year 2025. This represents an increase of 56.3% from the prior year.
Margins & Returns
Cue Biopharma Inc's operating margin was -96.7% in fiscal year 2025, reflecting core business profitability. This is up 350.2 percentage points from the prior year.
Cue Biopharma Inc's net profit margin was -96.9% in fiscal year 2025, showing the share of revenue converted to profit. This is up 341.1 percentage points from the prior year.
Cue Biopharma Inc's ROE was -100.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 131.8 percentage points from the prior year.
Capital Allocation
Cue Biopharma Inc invested $37.7M in research and development in fiscal year 2025. This represents an increase of 4.0% from the prior year.
Cue Biopharma Inc invested $177K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 168.2% from the prior year.
CUE Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $21.9M+921.0% | $2.1M-27.3% | $3.0M+601.7% | $421K-73.3% | $1.6M-52.8% | $3.3M+25.5% | $2.7M+54.8% | $1.7M |
| 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 | $16.5M+247.7% | $4.8M-39.9% | $7.9M-7.5% | $8.5M+19.0% | $7.2M-23.4% | $9.4M-1.6% | $9.5M-6.6% | $10.2M |
| SG&A Expenses | $3.5M-30.1% | $4.9M+34.2% | $3.7M-11.8% | $4.2M+3.8% | $4.0M+40.3% | $2.9M-18.3% | $3.5M-16.1% | $4.2M |
| Operating Income | $2.0M+126.0% | -$7.6M+12.0% | -$8.6M+29.8% | -$12.3M-27.7% | -$9.6M-9.3% | -$8.8M+15.1% | -$10.4M+18.0% | -$12.7M |
| Interest Expense | $348K+564.0% | -$75K-66.7% | -$45K+64.8% | -$128K-127.2% | $470K+350.0% | -$188K+12.6% | -$215K-751.5% | $33K |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | $1.6M+121.3% | -$7.4M+12.2% | -$8.5M+30.8% | -$12.3M-29.1% | -$9.5M-9.7% | -$8.7M+14.9% | -$10.2M+17.6% | -$12.3M |
| EPS (Diluted) | N/A | $-0.07+22.2% | $-0.09+47.1% | $-0.17 | N/A | $-0.17+15.0% | $-0.20+20.0% | $-0.25 |
CUE Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $42.2M+33.4% | $31.6M-22.3% | $40.7M+82.9% | $22.3M-30.9% | $32.2M-28.2% | $44.8M+5.9% | $42.3M-21.5% | $54.0M |
| Current Assets | $37.0M+43.2% | $25.8M-16.3% | $30.8M+93.6% | $15.9M-36.6% | $25.1M-32.5% | $37.3M+9.9% | $33.9M-24.1% | $44.7M |
| Cash & Equivalents | $27.1M+131.9% | $11.7M-57.4% | $27.5M+109.3% | $13.1M-41.5% | $22.5M-30.7% | $32.4M+8.0% | $30.0M-26.8% | $41.0M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $5.5M+1333.1% | $387K-27.3% | $532K | $0-100.0% | $945K-70.0% | $3.2M+70.7% | $1.8M+31.9% | $1.4M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $15.8M-14.2% | $18.4M-18.4% | $22.5M+43.9% | $15.7M+6.7% | $14.7M-24.4% | $19.4M-6.1% | $20.7M-13.4% | $23.9M |
| Current Liabilities | $13.5M-13.1% | $15.5M-19.4% | $19.3M+24.2% | $15.5M+13.2% | $13.7M-18.5% | $16.8M+2.0% | $16.5M-9.0% | $18.1M |
| Long-Term Debt | N/A | N/A | N/A | N/A | $0-100.0% | $1.3M-41.9% | $2.3M-29.5% | $3.2M |
| Total Equity | $26.4M+99.5% | $13.2M-27.1% | $18.2M+176.0% | $6.6M-62.4% | $17.5M-31.0% | $25.4M+17.3% | $21.6M-28.0% | $30.0M |
| Retained Earnings | -$368.5M+0.4% | -$370.1M-2.1% | -$362.6M-2.4% | -$354.1M-3.6% | -$341.9M-2.9% | -$332.4M-2.7% | -$323.7M-3.2% | -$313.5M |
CUE Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.1M+88.1% | -$9.0M-164.2% | -$3.4M+58.2% | -$8.2M+9.5% | -$9.0M-19.9% | -$7.5M+24.7% | -$10.0M-2.1% | -$9.8M |
| Capital Expenditures | $0 | $0-100.0% | $27K-82.0% | $150K+7400.0% | $2K+300.0% | -$1K-110.0% | $10K-81.8% | $55K |
| Free Cash Flow | -$1.1M+88.1% | -$9.0M-162.2% | -$3.4M+58.6% | -$8.3M+7.8% | -$9.0M-20.0% | -$7.5M+24.7% | -$10.0M-1.6% | -$9.8M |
| Investing Cash Flow | $7.0M+203.7% | -$6.8M-24966.7% | -$27K+82.0% | -$150K-14900.0% | -$1K-101.0% | $98K+1080.0% | -$10K+81.8% | -$55K |
| Financing Cash Flow | $9.5M+949100.0% | $1K-100.0% | $17.8M+1879.8% | -$1.0M-7.3% | -$932K-109.5% | $9.8M+1082.1% | -$1.0M-142.5% | $2.4M |
| 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 |
CUE Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 9.0%+362.4pp | -353.4%-61.1pp | -292.3%+2629.1pp | -2921.4%-2310.1pp | -611.3%-347.1pp | -264.2%+126.4pp | -390.6%+347.2pp | -737.8% |
| Net Margin | 7.2%+353.8pp | -346.6%-59.4pp | -287.1%+2624.3pp | -2911.4%-2308.9pp | -602.5%-343.0pp | -259.6%+123.1pp | -382.7%+336.4pp | -719.1% |
| Return on Equity | 6.0%+62.2pp | -56.2%-9.5pp | -46.7%+139.6pp | -186.3%-132.0pp | -54.3%-20.1pp | -34.1%+12.9pp | -47.0%-5.9pp | -41.1% |
| Return on Assets | 3.8%+27.3pp | -23.5%-2.7pp | -20.8%+34.2pp | -55.1%-25.6pp | -29.5%-10.2pp | -19.3%+4.7pp | -24.0%-1.1pp | -22.9% |
| Current Ratio | 2.74+1.1 | 1.66+0.1 | 1.60+0.6 | 1.03-0.8 | 1.84-0.4 | 2.22+0.2 | 2.06-0.4 | 2.47 |
| Debt-to-Equity | 0.60-0.8 | 1.39+0.1 | 1.24-1.1 | 2.38+2.4 | 0.00-0.1 | 0.05-0.1 | 0.110.0 | 0.11 |
| FCF Margin | -4.9%+415.0pp | -419.9%-303.4pp | -116.5%+1860.2pp | -1976.7%-1403.7pp | -573.0%-347.3pp | -225.7%+150.6pp | -376.2%+196.8pp | -573.0% |
Similar Companies
Frequently Asked Questions
What is Cue Biopharma Inc's annual revenue?
Cue Biopharma Inc (CUE) reported $27.5M in total revenue for fiscal year 2025. This represents a 195.7% 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 Cue Biopharma Inc's revenue growing?
Cue Biopharma Inc (CUE) revenue grew by 195.7% year-over-year, from $9.3M to $27.5M in fiscal year 2025.
Is Cue Biopharma Inc profitable?
No, Cue Biopharma Inc (CUE) reported a net income of -$26.6M in fiscal year 2025, with a net profit margin of -96.9%.
What is Cue Biopharma Inc's EBITDA?
Cue Biopharma Inc (CUE) had EBITDA of -$25.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Cue Biopharma Inc's operating margin?
Cue Biopharma Inc (CUE) had an operating margin of -96.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Cue Biopharma Inc's net profit margin?
Cue Biopharma Inc (CUE) had a net profit margin of -96.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Cue Biopharma Inc's return on equity (ROE)?
Cue Biopharma Inc (CUE) has a return on equity of -100.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Cue Biopharma Inc's free cash flow?
Cue Biopharma Inc (CUE) generated -$21.9M in free cash flow during fiscal year 2025. This represents a 39.9% 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 Cue Biopharma Inc's operating cash flow?
Cue Biopharma Inc (CUE) generated -$21.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Cue Biopharma Inc's total assets?
Cue Biopharma Inc (CUE) had $42.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Cue Biopharma Inc's capital expenditures?
Cue Biopharma Inc (CUE) invested $177K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Cue Biopharma Inc spend on research and development?
Cue Biopharma Inc (CUE) invested $37.7M in research and development during fiscal year 2025.
What is Cue Biopharma Inc's current ratio?
Cue Biopharma Inc (CUE) had a current ratio of 2.74 as of fiscal year 2025, which is generally considered healthy.
What is Cue Biopharma Inc's debt-to-equity ratio?
Cue Biopharma Inc (CUE) had a debt-to-equity ratio of 0.60 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Cue Biopharma Inc's return on assets (ROA)?
Cue Biopharma Inc (CUE) had a return on assets of -63.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Cue Biopharma Inc's cash runway?
Based on fiscal year 2025 data, Cue Biopharma Inc (CUE) had $27.1M in cash against an annual operating cash burn of $21.7M. This gives an estimated cash runway of approximately 15 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 Cue Biopharma Inc's Piotroski F-Score?
Cue Biopharma Inc (CUE) has a Piotroski F-Score of 4 out of 9, indicating neutral 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 Cue Biopharma Inc's earnings high quality?
Cue Biopharma Inc (CUE) 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.
Can Cue Biopharma Inc cover its interest payments?
Cue Biopharma Inc (CUE) has an interest coverage ratio of -265.5x, meaning it can struggle to cover its interest obligations. 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.
How financially healthy is Cue Biopharma Inc?
Cue Biopharma Inc (CUE) scores 40 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.