Cytodyn Inc Financials
This page shows Cytodyn Inc (CYDY) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 20 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).
Expense compression created FY2025 accounting profit, but cash burn and heavy near-term obligations still define how the business is financed.
From FY2022 to FY2025, operating results swung from-$145.4M to$9.7M , showing that the cost base was cut dramatically. Yet FY2025 operating cash flow stayed negative at-$8.8M and was effectively bridged by$10.9M of financing inflow, so the profit turn did not mean the business had become self-funding.
The balance sheet is still liability-heavy: the FY2025 current ratio was 0.3x, and equity remained
What changed most was spending intensity, not commercial scale: SG&A fell from
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 Cytodyn Inc'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.
Cytodyn Inc carries a low D/E ratio of -0.47, meaning only $-0.47 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 95/100, indicating a strong balance sheet with room for future borrowing.
Cytodyn Inc's current ratio of 0.25 is below the typical benchmark, resulting in a score of 0/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Cytodyn Inc passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass.
For every $1 of reported earnings, Cytodyn Inc generates $-2.34 in operating cash flow (-$8.8M OCF vs $3.7M 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
Cytodyn Inc's EBITDA was $9.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 153.7% from the prior year.
Cytodyn Inc reported $3.7M in net income in fiscal year 2025. This represents an increase of 107.5% from the prior year.
Cytodyn Inc earned $0.00 per diluted share (EPS) in fiscal year 2025. This represents an increase of 100.0% from the prior year.
Cash & Balance Sheet
Cytodyn Inc held $11.9M in cash against $45.4M in long-term debt as of fiscal year 2025.
Cytodyn Inc had 1.25B shares outstanding in fiscal year 2025. This represents an increase of 3.0% from the prior year.
Margins & Returns
Capital Allocation
CYDY Income Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| 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 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $1.7M-8.1% | $1.8M+5.0% | $1.7M | N/A | $1.5M-34.0% | $2.3M+42.8% | $1.6M | N/A |
| Operating Income | -$6.3M+70.9% | -$21.7M-338.6% | -$4.9M | N/A | -$4.0M-8.0% | -$3.7M-116.5% | $22.4M | N/A |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $0 | $0 | $0 | N/A | $0 | $0 | $0 | N/A |
| Net Income | -$4.7M+79.3% | -$22.6M-308.1% | -$5.5M | N/A | -$4.8M+0.2% | -$4.8M-124.8% | $19.2M | N/A |
| EPS (Diluted) | $0.00+100.0% | $-0.02 | $0.00 | N/A | $0.00 | $0.00-100.0% | $0.02 | N/A |
CYDY Balance Sheet
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $18.5M+107.0% | $8.9M-33.7% | $13.5M-25.3% | $18.0M-14.8% | $21.2M-14.8% | $24.9M-11.2% | $28.0M+151.6% | $11.1M |
| Current Assets | $18.4M+108.6% | $8.8M-33.8% | $13.3M-25.3% | $17.9M-14.8% | $21.0M-14.8% | $24.6M-11.2% | $27.7M+156.5% | $10.8M |
| Cash & Equivalents | $15.7M+214.2% | $5.0M-46.6% | $9.3M-21.6% | $11.9M-27.4% | $16.4M-23.1% | $21.3M-14.4% | $24.9M+701.3% | $3.1M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $0 |
| 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 | $122.8M-4.6% | $128.7M+13.9% | $113.0M-1.0% | $114.1M-0.1% | $114.2M-0.1% | $114.3M+0.9% | $113.2M-11.5% | $127.9M |
| Current Liabilities | $50.4M-40.8% | $85.1M+22.6% | $69.4M-1.6% | $70.5M-0.1% | $70.6M-0.1% | $70.6M+1.5% | $69.6M-17.4% | $84.2M |
| Long-Term Debt | $40.5M-3.9% | $42.2M-3.7% | $43.8M-3.5% | $45.4M-1.1% | $45.8M-0.5% | $46.1M+1.7% | $45.3M+0.6% | $45.0M |
| Total Equity | -$104.3M+12.9% | -$119.7M-20.3% | -$99.5M-3.6% | -$96.0M-3.3% | -$93.0M-4.0% | -$89.4M-4.9% | -$85.2M+27.0% | -$116.8M |
| Retained Earnings | -$920.6M-0.5% | -$915.9M-2.5% | -$893.3M-0.6% | -$887.8M-0.7% | -$881.8M-0.5% | -$877.1M-0.5% | -$872.3M+2.2% | -$891.5M |
CYDY Cash Flow Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$5.5M-26.9% | -$4.3M-77.6% | -$2.5M+56.7% | -$5.7M-14.3% | -$5.0M-38.2% | -$3.6M-165.9% | $5.4M+429.7% | -$1.6M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Financing Cash Flow | $16.2M | $0+100.0% | -$121K-110.4% | $1.2M+5452.4% | $21K | $0-100.0% | $9.7M+180.9% | $3.4M |
| 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 |
CYDY Financial Ratios
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| 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 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -25.4%+227.7pp | -253.0%-211.9pp | -41.1% | N/A | -22.4%-3.3pp | -19.2%-87.8pp | 68.6% | N/A |
| Current Ratio | 0.37+0.3 | 0.10-0.1 | 0.19-0.1 | 0.25-0.0 | 0.30-0.1 | 0.35-0.0 | 0.40+0.3 | 0.13 |
| Debt-to-Equity | -0.39-0.0 | -0.35+0.1 | -0.44+0.0 | -0.47+0.0 | -0.49+0.0 | -0.52+0.0 | -0.53-0.1 | -0.39 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Note: Shareholder equity is negative (-$96.0M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.25), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
Is Cytodyn Inc profitable?
Yes, Cytodyn Inc (CYDY) reported a net income of $3.7M in fiscal year 2025.
What is Cytodyn Inc's EBITDA?
Cytodyn Inc (CYDY) had EBITDA of $9.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Cytodyn Inc have?
As of fiscal year 2025, Cytodyn Inc (CYDY) had $11.9M in cash and equivalents against $45.4M in long-term debt.
What is Cytodyn Inc's operating cash flow?
Cytodyn Inc (CYDY) generated -$8.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Cytodyn Inc's total assets?
Cytodyn Inc (CYDY) had $18.0M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Cytodyn Inc's current ratio?
Cytodyn Inc (CYDY) had a current ratio of 0.25 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Cytodyn Inc's debt-to-equity ratio?
Cytodyn Inc (CYDY) had a debt-to-equity ratio of -0.47 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Cytodyn Inc's return on assets (ROA)?
Cytodyn Inc (CYDY) had a return on assets of 20.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Cytodyn Inc's cash runway?
Based on fiscal year 2025 data, Cytodyn Inc (CYDY) had $11.9M in cash against an annual operating cash burn of $8.8M. This gives an estimated cash runway of approximately 16 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.
Why is Cytodyn Inc's debt-to-equity ratio negative or unusual?
Cytodyn Inc (CYDY) has negative shareholder equity of -$96.0M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Cytodyn Inc's Piotroski F-Score?
Cytodyn Inc (CYDY) 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Cytodyn Inc's earnings high quality?
Cytodyn Inc (CYDY) has an earnings quality ratio of -2.34x, 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 Cytodyn Inc?
Cytodyn Inc (CYDY) scores 16 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.