Cadrenal Therape Financials
This page shows Cadrenal Therape (CVKD) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 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).
Cadrenal’s filings show a cash-funded operating burn increasingly shaped by administrative expansion, not by heavier reinvestment or debt.
From FY2023 to FY2025, operating cash burn rose from$3.5M to$12.6M , and the near-match between cash burn and net loss shows the deficit is mostly cash-paid expense rather than accounting noise. Cash on hand fell from$8.4M to$4.0M , which means outside capital is sustaining operations but the spending pace has overtaken that support and is eroding the cash buffer.
The cost build is not mainly a research story. R&D spending stayed roughly flat near
In FY2025, total liabilities were only
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Cadrenal Therape's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Cadrenal Therape carries a low D/E ratio of 0.58, meaning only $0.58 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.
Cadrenal Therape's current ratio of 2.72 indicates adequate short-term liquidity, earning a score of 51/100. The company can meet its near-term obligations, though with limited headroom.
Cadrenal Therape generates a -483.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -143.2% the prior year.
Cadrenal Therape 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, Cadrenal Therape generates $0.95 in operating cash flow (-$12.6M OCF vs -$13.2M 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
Earnings & Revenue
Cadrenal Therape's EBITDA was -$13.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 22.8% from the prior year.
Cadrenal Therape reported -$13.2M in net income in fiscal year 2025. This represents a decrease of 24.3% from the prior year.
Cadrenal Therape earned $-6.64 per diluted share (EPS) in fiscal year 2025. This represents an increase of 23.9% from the prior year.
Cash & Balance Sheet
Cadrenal Therape generated -$12.6M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 71.2% from the prior year.
Cadrenal Therape held $4.0M in cash against $0 in long-term debt as of fiscal year 2025.
Cadrenal Therape paid $16.50 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.
Cadrenal Therape had 2M shares outstanding in fiscal year 2025. This represents an increase of 31.2% from the prior year.
Margins & Returns
Cadrenal Therape's ROE was -483.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 340.2 percentage points from the prior year.
Capital Allocation
Cadrenal Therape invested $4.1M in research and development in fiscal year 2025. This represents a decrease of 2.5% from the prior year.
Cadrenal Therape invested $5K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 21.9% from the prior year.
CVKD Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| 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 | $772K | N/A | $688K-36.1% | $1.1M-35.4% | $1.7M | N/A | $785K-37.4% | $1.3M |
| SG&A Expenses | $1.7M | N/A | $2.0M-23.0% | $2.7M+17.8% | $2.3M | N/A | $1.7M+38.1% | $1.2M |
| Operating Income | -$2.5M | N/A | -$2.7M+26.8% | -$3.7M+4.9% | -$3.9M | N/A | -$2.5M+0.3% | -$2.5M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$2.5M | N/A | -$2.7M+26.8% | -$3.7M+4.6% | -$3.8M | N/A | -$2.4M-0.6% | -$2.4M |
| EPS (Diluted) | $-1.04 | N/A | $-1.31+29.9% | $-1.87+10.5% | $-2.09 | N/A | $-2.18 | $-2.24 |
CVKD Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.9M-33.9% | $4.3M+5.8% | $4.1M-31.6% | $6.0M-24.8% | $8.0M-21.4% | $10.1M+116.3% | $4.7M-14.3% | $5.5M |
| Current Assets | $2.9M-33.9% | $4.3M+5.9% | $4.1M-31.7% | $6.0M-24.8% | $7.9M-21.4% | $10.1M+116.4% | $4.7M-14.2% | $5.4M |
| Cash & Equivalents | $2.3M-42.4% | $4.0M+3.8% | $3.9M-30.7% | $5.6M-24.1% | $7.3M-26.8% | $10.0M+129.6% | $4.4M-13.4% | $5.0M |
| 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 | $1.1M-32.9% | $1.6M+17.4% | $1.4M-19.5% | $1.7M-8.7% | $1.8M-31.4% | $2.7M+111.8% | $1.3M-13.5% | $1.5M |
| Current Liabilities | $1.1M-32.9% | $1.6M+17.4% | $1.4M-19.5% | $1.7M-8.7% | $1.8M-31.4% | $2.7M+111.8% | $1.3M-13.5% | $1.5M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $1.8M-34.4% | $2.7M+0.1% | $2.7M-36.4% | $4.3M-29.7% | $6.1M-17.8% | $7.4M+118.0% | $3.4M-14.5% | $4.0M |
| Retained Earnings | -$41.5M-6.4% | -$39.0M-8.5% | -$35.9M-8.1% | -$33.2M-12.4% | -$29.6M-14.9% | -$25.7M-19.4% | -$21.5M-12.6% | -$19.1M |
CVKD Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$3.0M-16.8% | -$2.6M-9.0% | -$2.4M+22.1% | -$3.0M+34.9% | -$4.6M-159.6% | -$1.8M+18.6% | -$2.2M-43.9% | -$1.5M |
| Capital Expenditures | $3K | $0-100.0% | $2K | $0-100.0% | $3K | N/A | N/A | N/A |
| Free Cash Flow | -$3.0M-16.9% | -$2.6M-8.9% | -$2.4M+22.0% | -$3.0M+35.0% | -$4.7M | N/A | N/A | N/A |
| Investing Cash Flow | -$3K | $0+100.0% | -$2K | $0+100.0% | -$3K | N/A | N/A | N/A |
| Financing Cash Flow | $1.3M-52.1% | $2.7M+319.2% | $648K-48.6% | $1.3M-36.0% | $2.0M-73.6% | $7.5M+387.7% | $1.5M | $0 |
| 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 |
CVKD Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| 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 | -138.9% | N/A | -98.2%-12.9pp | -85.3%-22.4pp | -62.9% | N/A | -70.6%-10.6pp | -59.9% |
| Return on Assets | -87.2% | N/A | -65.7%-4.4pp | -61.3%-13.0pp | -48.4% | N/A | -51.5%-7.6pp | -43.9% |
| Current Ratio | 2.68-0.0 | 2.72-0.3 | 3.02-0.5 | 3.56-0.8 | 4.32+0.5 | 3.77+0.1 | 3.69-0.0 | 3.72 |
| Debt-to-Equity | 0.59+0.0 | 0.58+0.1 | 0.49+0.1 | 0.39+0.1 | 0.30-0.1 | 0.36-0.0 | 0.370.0 | 0.37 |
| 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 Cadrenal Therape profitable?
No, Cadrenal Therape (CVKD) reported a net income of -$13.2M in fiscal year 2025.
What is Cadrenal Therape's EBITDA?
Cadrenal Therape (CVKD) had EBITDA of -$13.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
Does Cadrenal Therape pay dividends?
Yes, Cadrenal Therape (CVKD) paid $16.50 per share in dividends during fiscal year 2025.
What is Cadrenal Therape's return on equity (ROE)?
Cadrenal Therape (CVKD) has a return on equity of -483.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Cadrenal Therape's free cash flow?
Cadrenal Therape (CVKD) generated -$12.6M in free cash flow during fiscal year 2025. This represents a -71.2% 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 Cadrenal Therape's operating cash flow?
Cadrenal Therape (CVKD) generated -$12.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Cadrenal Therape's total assets?
Cadrenal Therape (CVKD) had $4.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Cadrenal Therape's capital expenditures?
Cadrenal Therape (CVKD) invested $5K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Cadrenal Therape spend on research and development?
Cadrenal Therape (CVKD) invested $4.1M in research and development during fiscal year 2025.
What is Cadrenal Therape's current ratio?
Cadrenal Therape (CVKD) had a current ratio of 2.72 as of fiscal year 2025, which is generally considered healthy.
What is Cadrenal Therape's debt-to-equity ratio?
Cadrenal Therape (CVKD) had a debt-to-equity ratio of 0.58 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Cadrenal Therape's return on assets (ROA)?
Cadrenal Therape (CVKD) had a return on assets of -305.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Cadrenal Therape's cash runway?
Based on fiscal year 2025 data, Cadrenal Therape (CVKD) had $4.0M in cash against an annual operating cash burn of $12.6M. This gives an estimated cash runway of approximately 4 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 Cadrenal Therape's Piotroski F-Score?
Cadrenal Therape (CVKD) 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Cadrenal Therape's earnings high quality?
Cadrenal Therape (CVKD) has an earnings quality ratio of 0.95x, 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 Cadrenal Therape?
Cadrenal Therape (CVKD) scores 24 out of 100 on our Financial Profile, indicating weak 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.