What is Cadrenal Therapeutics, Inc.'s earnings per share (EPS)?

Cadrenal Therapeutics, Inc. (CVKD) reported diluted earnings per share of -$6.64 for fiscal year 2025. 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.

Cadrenal Therapeutics, Inc. (CVKD) Financials

CVKD

FY2025 annual

Net Income -$13.2M -24.3% YoY

EPS (Diluted) -$6.64 YoY not available

Free Cash Flow -$12.6M -71.2% YoY

Operating Cash Flow -$12.6M -71.3% YoY

Market Cap $3.5M as of Oct 7, 2026

Price / Sales n/m no revenue reported

Price / Earnings n/m net loss, so no earnings multiple, FY2025

Price / Book 0.9x on $4.1M equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 7, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 13, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 13, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CVKD SEC filings page.

This page shows Cadrenal Therapeutics, Inc. (CVKD) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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).

Rhea AI CVKD FY2025 2026-10-03

The reported business is expense-led and financing-dependent, with recurring losses consuming cash while the asset base contracts.

In FY2025, the net loss of $13.2M nearly matched operating cash outflow of $12.6M, showing that reported losses are translating into cash consumption rather than being mainly noncash accounting charges. That close relationship, after a wider gap in FY2024, makes cash generation a more direct measure of the company’s operating burden.

FY2025 spending was weighted toward general administration: SG&A reached $9.4M versus R&D of $4.1M. With no revenue reported, the statements describe a company funding its operating infrastructure and development work without showing commercial sales.

Financing supplied $6.6M in FY2025 while operations used $12.6M, so external funding did not fully offset annual cash use. The sharp asset contraction and declining current ratio point to a thinner liquidity buffer, even though the company still reported positive equity.

Financial Health Signals

Financial health score pending refresh

We are recalculating Cadrenal Therapeutics, Inc.'s peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Piotroski F-Score Partial

1/6

Cadrenal 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).

Earnings Quality No Cash Backing

N/A

Cadrenal Therapeutics, Inc. reported a net loss of $13.2M while operations used $12.6M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Key Financial Metrics

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Earnings & Revenue

EBITDA

-$3.3M

YoY+10.6%

QoQ-32.9%

Cadrenal Therapeutics, Inc.'s EBITDA was -$3.3M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 10.6% from the same quarter a year earlier. Against the prior quarter it is down 32.9%.

Net Income

-$3.3M

YoY+9.4%

QoQ-33.1%

Cadrenal Therapeutics, Inc. reported -$3.3M in net income in Q2 2026. This represents an increase of 9.4% from the same quarter a year earlier. Against the prior quarter it is down 33.1%.

EPS (Diluted)

-$1.14

YoY+39.0%

QoQ-9.6%

Cadrenal Therapeutics, Inc. earned -$1.14 per diluted share (EPS) in Q2 2026. This represents an increase of 39.0% from the same quarter a year earlier. Against the prior quarter it is down 9.6%.

Revenue

Not reported for Q2 2026.

Cash & Balance Sheet

Cash & Debt

$2.4M

YoY-57.1%

QoQ+3.5%

Cadrenal Therapeutics, Inc. held $2.4M in cash as of Q2 2026; long-term debt is not reported for that period.

Shares Outstanding

YoY+74.3%

QoQ+24.4%

Cadrenal Therapeutics, Inc. had 4M shares outstanding in Q2 2026. This represents an increase of 74.3% from the same quarter a year earlier. Against the prior quarter it is up 24.4%.

Free Cash Flow

Not reported for Q2 2026.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Return on Equity

-81.2%

YoY+4.1pp

QoQ+57.7pp

Cadrenal Therapeutics, Inc.'s ROE was -81.2% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 4.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 57.7 percentage points.

Gross Margin

Not reported for Q2 2026.

Operating Margin

Not reported for Q2 2026.

Net Margin

Not reported for Q2 2026.

Capital Allocation

R&D Spending

$705K

YoY-34.6%

QoQ-8.6%

Cadrenal Therapeutics, Inc. invested $705K in research and development in Q2 2026. This represents a decrease of 34.6% from the same quarter a year earlier. Against the prior quarter it is down 8.6%.

Share Buybacks

Not reported for Q2 2026.

Capital Expenditures

Not reported for Q2 2026.

CVKD 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.

CVKD quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY0810-K
Cost of Revenue	N/A	N/A	N/A	$220K	N/A	$220K
R&D Expenses	N/A	$4.1M-2.5%	$4.2M+3.0%	$4.1M+938.9%	$393K	$200K
SG&A Expenses	N/A	$9.4M+38.5%	$6.8M+90.3%	$3.5M+53.8%	$2.3M	N/A
Operating Income	N/A	-$13.5M-22.8%	-$11.0M-43.6%	-$7.6M-182.5%	-$2.7M	N/A
EBITDA	N/A	-$13.5M-22.8%	-$11.0M-43.6%	-$7.6M-182.6%	-$2.7M	N/A
Interest Expense	N/A	N/A	N/A	$4K-91.2%	$40K	N/A
Net Income	N/A	-$13.2M-24.3%	-$10.7M-27.5%	-$8.4M	N/A	N/A
EPS (Basic)	N/A	-$6.64+23.9%	-$8.73+6.0%	-$9.29-992.9%	-$0.85	N/A
EPS (Diluted)	—	-$6.64	-$8.73	-$9.29-992.9%	-$0.85	N/A
Diluted Shares (Avg)	N/A	2M	1M	899,465-88.6%	8M	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
R&D Expenses	$705K-34.6%	$772K-53.7%	N/A	$688K-12.3%	$1.1M-14.1%	$1.7M+165.2%	N/A	$785K+221.6%
SG&A Expenses	$2.6M-0.8%	$1.7M-22.7%	N/A	$2.0M+22.1%	$2.7M+119.1%	$2.3M+100.2%	N/A	$1.7M+86.5%
Operating Income	-$3.3M+10.5%	-$2.5M+36.0%	N/A	-$2.7M-11.1%	-$3.7M-51.4%	-$3.9M-123.7%	N/A	-$2.5M-115.3%
EBITDA	-$3.3M+10.6%	-$2.5M+35.9%	N/A	-$2.7M-11.1%	-$3.7M-51.4%	-$3.9M-123.5%	N/A	-$2.5M-115.4%
Net Income	-$3.3M+9.4%	-$2.5M+35.1%	N/A	-$2.7M-11.5%	-$3.7M-53.3%	-$3.8M-131.2%	N/A	-$2.4M-132.3%
EPS (Basic)	-$1.14+39.0%	-$1.04+50.2%	-$1.41+48.5%	-$1.31+39.9%	-$1.87+16.5%	-$2.09-34.0%	-$2.74-5380.0%	-$2.18-115.8%
EPS (Diluted)	-$1.14+39.0%	-$1.04+50.2%	-$1.41+48.5%	-$1.31	-$1.87	-$2.09	-$2.74	-$2.18
Diluted Shares (Avg)	3M+48.5%	2M+30.6%	N/A	2M	2M	2M	N/A	1M

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Interest Expense, Income Tax.

CVKD Balance Sheet

CVKD quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY0810-K
Total Assets	$4.3M-57.3%	$10.1M+18.8%	$8.5M+994.8%	$778K	N/A
Current Assets	$4.3M-57.3%	$10.1M+19.1%	$8.5M+1067.2%	$728K	N/A
Cash & Equivalents	$4.0M-60.0%	$10.0M+19.2%	$8.4M+25685.6%	$33K	N/A
Short-Term Investments	$0	$0	$0	$0	N/A
Long-Term Investments	$0	$0	$0	$0	N/A
Total Liabilities	$1.6M-40.8%	$2.7M+224.6%	$827K-86.9%	$6.3M	N/A
Current Liabilities	$1.6M-40.8%	$2.7M+224.6%	$827K-38.0%	$1.3M	N/A
Non-Current Liabilities	$0	$0	$0-100.0%	$5.0M	N/A
Total Equity	$2.7M-63.2%	$7.4M-3.3%	$7.7M+238.6%	-$5.6M	N/A
Retained Earnings	-$39.0M-51.5%	-$25.7M-70.7%	-$15.1M-124.5%	-$6.7M	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$5.6M-6.5%	$2.9M-64.0%	$4.3M-57.3%	$4.1M-12.6%	$6.0M+9.6%	$8.0M+12.8%	$10.1M+18.8%	$4.7M-49.7%
Current Assets	$5.6M-6.5%	$2.9M-64.1%	$4.3M-57.3%	$4.1M-12.7%	$6.0M+9.7%	$7.9M+13.0%	$10.1M+19.1%	$4.7M-49.6%
Cash & Equivalents	$2.4M-57.1%	$2.3M-68.5%	$4.0M-60.0%	$3.9M-11.5%	$5.6M+10.6%	$7.3M+11.7%	$10.0M+19.2%	$4.4M-52.1%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$1.5M-10.9%	$1.1M-42.1%	$1.6M-40.8%	$1.4M+6.8%	$1.7M+14.6%	$1.8M+114.9%	$2.7M+224.6%	$1.3M+123.9%
Current Liabilities	$1.5M-10.9%	$1.1M-42.1%	$1.6M-40.8%	$1.4M+6.8%	$1.7M+14.6%	$1.8M+114.9%	$2.7M+224.6%	$1.3M+124.8%
Non-Current Liabilities	$0	$0	$0	$0	$0	$0	$0	$0-100.0%
Total Equity	$4.1M-4.8%	$1.8M-70.6%	$2.7M-63.2%	$2.7M-19.9%	$4.3M+7.7%	$6.1M-1.3%	$7.4M-3.3%	$3.4M-61.0%
Retained Earnings	-$44.8M-34.7%	-$41.5M-40.2%	-$39.0M-51.5%	-$35.9M-66.8%	-$33.2M-73.8%	-$29.6M-76.7%	-$25.7M-70.7%	-$21.5M-54.6%

Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.

CVKD Cash Flow Statement

CVKD quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY0810-K
Operating Cash Flow	-$10.2M	-$12.6M-71.3%	-$7.4M-108.4%	-$3.5M-193.0%	-$1.2M	N/A
Depreciation & Amortization	N/A	$7K+265.6%	$2K-5.1%	$2K+56.4%	$1K	N/A
Stock-Based Compensation	N/A	$1.9M+36.7%	$1.4M+99.8%	$710K-23.5%	$928K	N/A
Capital Expenditures	N/A	$5K-21.9%	$7K+100.9%	$3K+42.8%	$2K	N/A
Free Cash Flow	N/A	-$12.6M-71.2%	-$7.4M-108.4%	-$3.5M-192.7%	-$1.2M	N/A
Investing Cash Flow	N/A	-$5K+21.9%	-$7K-100.9%	-$3K-42.8%	-$2K	N/A
Financing Cash Flow	$7.0M	$6.6M-26.5%	$9.0M-24.6%	$11.9M+860.2%	$1.2M	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	-$2.2M+26.2%	-$3.0M+35.4%	-$2.6M-43.5%	-$2.4M-7.1%	-$3.0M-97.9%	-$4.6M-153.1%	-$1.8M-157.9%	-$2.2M-250.6%
Depreciation & Amortization	$504+25.7%	$555-89.9%	$555+36.4%	$401-1.5%	$401-14.7%	$6K+824.1%	$407-31.8%	$407-31.8%
Stock-Based Compensation	$672K+13.4%	$252K-54.0%	N/A	$473K+57.8%	$593K+206.9%	$549K+237.2%	N/A	$300K+96.0%
Capital Expenditures	N/A	N/A	$0	$2K	$0	$3K	N/A	N/A
Free Cash Flow	N/A	N/A	-$2.6M	-$2.4M	-$3.0M	-$4.7M	N/A	N/A
Investing Cash Flow	N/A	N/A	$0	-$2K	$0	-$3K	N/A	N/A
Financing Cash Flow	$2.3M+83.4%	$1.3M-33.9%	$2.7M-63.5%	$648K-57.6%	$1.3M	$2.0M+661019.5%	$7.5M+59710.3%	$1.5M-76.5%

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

CVKD 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.

CVKD quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY0810-K
Return on Equity	-483.3%-340.2pp	-143.2%-34.5pp	-108.6%	N/A	N/A
Return on Assets	-305.9%-200.7pp	-105.2%-7.1pp	-98.1%	N/A	N/A
Current Ratio	2.72-1.0x	3.77-6.5x	10.27+9.7x	0.55	N/A
Debt-to-Equity	0.58+0.2x	0.36+0.3x	0.11	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Return on Equity	-81.2%+4.1pp	-138.9%-76.0pp	N/A	-98.2%-27.6pp	-85.3%-25.4pp	-62.9%-36.0pp	N/A	-70.6%-58.7pp
Return on Assets	-59.5%+1.9pp	-87.2%-38.9pp	N/A	-65.7%-14.2pp	-61.3%-17.5pp	-48.4%-24.8pp	N/A	-51.5%-40.3pp
Current Ratio	3.73+0.2x	2.68-1.6x	2.72-1.0x	3.02-0.7x	3.56-0.2x	4.32-3.9x	3.77-6.5x	3.69-12.8x
Debt-to-Equity	0.370.0x	0.59+0.3x	0.58+0.2x	0.49+0.1x	0.390.0x	0.30+0.2x	0.36+0.3x	0.37+0.3x

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
Cadrenal Therapeutics, Inc. CVKD	FY2025	N/A	-$13.2M	N/A	$3.5M	—
Tenax Therapeutics, Inc. TENX	FY2025	$0	-$52.6M	N/A	$73.4M	—
Allarity Therapeutics, Inc. ALLR	FY2025	$320K	-$11.2M	N/A	$15.9M	—
NeuroSense Therapeutics Ltd. NRSN	FY2025	N/A	N/A	N/A	$7.6M	—
Dare Bioscience, Inc. DARE	FY2025	$1.0M	-$13.4M	N/A	$16.6M	61/100
Neuphoria Therapeutics Inc. NEUP	FY2026	$1.2M	-$13.5M	N/A	$18.7M	48/100

Where Cadrenal Therapeutics, Inc. Ranks

Frequently Asked Questions

Is Cadrenal Therapeutics, Inc. profitable?

No, Cadrenal Therapeutics, Inc. (CVKD) reported a net income of -$13.2M in fiscal year 2025.

What is Cadrenal Therapeutics, Inc.'s EBITDA?

Cadrenal Therapeutics, Inc. (CVKD) had EBITDA of -$13.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

Does Cadrenal Therapeutics, Inc. pay dividends?

Yes, Cadrenal Therapeutics, Inc. (CVKD) paid $16.50 per share in dividends during fiscal year 2025.

What is Cadrenal Therapeutics, Inc.'s return on equity (ROE)?

Cadrenal Therapeutics, Inc. (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 Therapeutics, Inc.'s free cash flow?

Cadrenal Therapeutics, Inc. (CVKD) recorded an outflow of $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 Therapeutics, Inc.'s operating cash flow?

Cadrenal Therapeutics, Inc. (CVKD) recorded an outflow of $12.6M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are Cadrenal Therapeutics, Inc.'s total assets?

Cadrenal Therapeutics, Inc. (CVKD) had $4.3M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Cadrenal Therapeutics, Inc.'s capital expenditures?

Cadrenal Therapeutics, Inc. (CVKD) invested $5K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Cadrenal Therapeutics, Inc. spend on research and development?

Cadrenal Therapeutics, Inc. (CVKD) invested $4.1M in research and development during fiscal year 2025.

How many shares does Cadrenal Therapeutics, Inc. have outstanding?

Cadrenal Therapeutics, Inc. (CVKD) had 3M shares outstanding as of fiscal year 2025.

What is Cadrenal Therapeutics, Inc.'s current ratio?

Cadrenal Therapeutics, Inc. (CVKD) had a current ratio of 2.72 as of fiscal year 2025, which is generally considered healthy.

What is Cadrenal Therapeutics, Inc.'s debt-to-equity ratio?

Cadrenal Therapeutics, Inc. (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 Therapeutics, Inc.'s return on assets (ROA)?

Cadrenal Therapeutics, Inc. (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 Therapeutics, Inc.'s P/E ratio?

Cadrenal Therapeutics, Inc. (CVKD) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $3.5M as of Oct 7, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Cadrenal Therapeutics, Inc.'s price-to-sales ratio?

Cadrenal Therapeutics, Inc. (CVKD) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $3.5M as of Oct 7, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

How does Cadrenal Therapeutics, Inc.'s liquidity compare with its operating cash outflow?

At the end of fiscal year 2025, Cadrenal Therapeutics, Inc. (CVKD) held $4.0M in cash, cash equivalents and investments, and reported an operating cash outflow of $12.6M over that year. Dividing the one by the other, the reported balance equals about 4 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 Cadrenal Therapeutics, Inc.'s Piotroski F-Score?

Cadrenal Therapeutics, Inc. (CVKD) 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 Cadrenal Therapeutics, Inc.'s earnings high quality?

Cadrenal Therapeutics, Inc. (CVKD) reported a net loss of $13.2M while operations used $12.6M 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.