What is Cytodyn Inc's earnings per share (EPS)?

Cytodyn Inc (CYDY) reported diluted earnings per share of $0.00 for fiscal year 2025. This represents a 100.0% change compared to the previous fiscal year. 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.

Cytodyn Inc Financials

CYDY

FY2025 annual

Revenue Not reported for FY2025

Net Income $3.7M +107.5% YoY

EPS (Diluted) $0.00 +100.0% YoY

Free Cash Flow Not reported for FY2025

Source SEC Filings (10-K/10-Q) Data as of Feb 28, 2026 Currency USD FYE May

This page shows Cytodyn Inc (CYDY) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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 CYDY FY2025 2026-08-15

CytoDyn’s FY2025 accounting profit looks more like a balance-sheet and financing reset than a fully cash-funded operating recovery.

The key mismatch is that FY2025 posted operating profit of $9.7M after FY2024’s operating loss of -$18.1M. Yet operating cash flow stayed negative at -$8.8M, so the turnaround appeared in accounting earnings before it appeared in cash conversion or day-to-day funding capacity.

Liquidity improved on paper as cash climbed to $11.9M from $3.1M. But that cushion was externally funded, with $10.9M of financing inflow offsetting operating cash burn, which is why the year-end current ratio still sat at only 0.3x.

The balance sheet is still liability-heavy: assets were $18.0M while liabilities were $114.1M in FY2025. That gap means the reported profit did not repair the capital structure; negative equity still tells you past losses remain larger than the asset base, so keeping the company funded remains a financing problem as much as an operating one.

Financial Health Signals

Financial health score not available

Cytodyn 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.

Piotroski F-Score Partial

4/7

Cytodyn Inc passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass.

Earnings Quality No Cash Backing

$2.34used

For every $1 of reported earnings, Cytodyn Inc used $2.34 of operating cash (-$8.8M OCF vs $3.7M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.

Key Financial Metrics

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Earnings & Revenue

EBITDA

$9.7M

YoY+153.7%

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.

Net Income

$3.7M

YoY+107.5%

Cytodyn Inc reported $3.7M in net income in fiscal year 2025. This represents an increase of 107.5% from the prior year.

EPS (Diluted)

$0.00

YoY+100.0%

Cytodyn Inc earned $0.00 per diluted share (EPS) in fiscal year 2025. This represents an increase of 100.0% from the prior year.

Revenue

Not reported for fiscal year 2025.

Cash & Balance Sheet

Cash & Debt

$11.9M

YoY+282.7%

5Y CAGR-3.6%

10Y CAGR+27.5%

Cytodyn Inc held $11.9M in cash against $45.4M in long-term debt as of fiscal year 2025.

Shares Outstanding

1.25B

YoY+3.0%

5Y CAGR+17.1%

Cytodyn Inc had 1.25B shares outstanding in fiscal year 2025. This represents an increase of 3.0% from the prior year.

Free Cash Flow

Not reported for fiscal year 2025.

Dividends Per Share

Not reported for fiscal year 2025.

Margins & Returns

None of these metrics is reported for fiscal year 2025.

Capital Allocation

None of these metrics is reported for fiscal year 2025.

CYDY Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

CYDY annual income statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Revenue	N/A	N/A	N/A	$0-100.0%	$266K	$0	N/A	N/A	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	$53K	N/A	N/A	N/A	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	$213K	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	$7.2M+175.1%	$2.6M-90.3%	$27.0M-49.4%	$53.4M+1.4%	$52.6M+23.9%	$42.5M	N/A	$20.2M+47.1%	$13.7M-9.4%	$15.2M+280.7%	$4.0M+542.3%	$620K+16.9%	$530K+10.2%	$481K
SG&A Expenses	N/A	$7.3M-32.9%	$10.8M-36.9%	$17.1M-61.3%	$44.3M+29.1%	$34.3M+71.8%	$20.0M+64.8%	$12.1M+65.1%	$7.3M+8.6%	$6.8M-4.6%	$7.1M+115.1%	$3.3M+6.0%	$3.1M-49.9%	$6.2M	N/A	$2.5M
Operating Income	N/A	$9.7M+153.5%	-$18.1M+55.5%	-$40.6M+72.1%	-$145.4M-39.0%	-$104.6M-40.1%	-$74.6M-33.7%	-$55.9M	N/A	-$27.3M-29.1%	-$21.2M-8.1%	-$19.6M-141.6%	-$8.1M-1.5%	-$8.0M	N/A	-$3.7M
Interest Expense	N/A	N/A	$31.8M-19.0%	$39.2M-40.0%	$65.4M-9.0%	$71.9M+294.5%	$18.2M+450.0%	$3.3M-44.1%	$5.9M+866.9%	$613K-86.9%	$4.7M+0.3%	$4.7M+3.2%	$4.5M+131.4%	$1.9M	N/A	N/A
Income Tax	N/A	$0	$0	$0	$0	$0	$0+100.0%	-$2.8M	$0	$0	$0	$0	$0	N/A	N/A	N/A
Net Income	N/A	$3.7M+107.5%	-$49.8M	N/A	N/A	-$176.5M-26.1%	-$139.9M-130.5%	-$60.7M	N/A	-$25.8M-0.2%	-$25.7M	N/A	-$12.4M-29.9%	-$9.6M	N/A	-$3.7M
EPS (Diluted)	—	$0.00+100.0%	-$0.05+50.0%	-$0.10+67.7%	-$0.31-3.3%	-$0.30+9.1%	-$0.33	-$0.23	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
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
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

TTM is the trailing twelve months, Q4 FY2025 through Q3 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.

CYDY Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

CYDY annual balance sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Total Assets	$18.0M+62.1%	$11.1M-1.4%	$11.3M-61.3%	$29.2M-77.9%	$132.1M+161.5%	$50.5M+142.0%	$20.9M+326.1%	$4.9M-39.2%	$8.1M-41.6%	$13.8M+194.6%	$4.7M-44.5%	$8.4M+102.7%	$4.2M+288.3%	$1.1M-46.3%	$2.0M
Current Assets	$17.9M+65.3%	$10.8M+0.1%	$10.8M+2.8%	$10.5M-70.9%	$36.1M-2.0%	$36.8M+585.9%	$5.4M+61.7%	$3.3M-45.7%	$6.1M-46.7%	$11.5M+464.1%	$2.0M-62.6%	$5.4M+547.6%	$840K-18.3%	$1.0M-47.9%	$2.0M
Cash & Equivalents	$11.9M+282.7%	$3.1M+22.4%	$2.5M-39.9%	$4.2M-87.5%	$33.9M+137.7%	$14.3M+446.6%	$2.6M+112.2%	$1.2M-30.6%	$1.8M-81.6%	$9.6M+818.2%	$1.1M-78.5%	$4.9M+709.4%	$604K+111.8%	$285K-72.5%	$1.0M
Inventory	N/A	$0	$0	N/A	$93.5M+388.2%	$19.1M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$114.1M-10.8%	$127.9M+5.9%	$120.8M-2.3%	$123.6M-19.3%	$153.1M+188.9%	$53.0M+77.9%	$29.8M+65.0%	$18.1M+97.2%	$9.2M+155.8%	$3.6M-76.7%	$15.4M+241.2%	$4.5M+2.8%	$4.4M-13.1%	$5.0M-28.0%	$7.0M
Current Liabilities	$70.5M-16.2%	$84.2M-29.7%	$119.8M-2.7%	$123.2M-19.3%	$152.5M+242.8%	$44.5M+65.3%	$26.9M+60.9%	$16.7M+172.4%	$6.1M+71.6%	$3.6M-66.6%	$10.7M+395.1%	$2.2M-32.9%	$3.2M-36.0%	$5.0M-27.9%	$7.0M
Long-Term Debt	$45.4M+0.7%	$45.0M-1.6%	$45.7M+8.3%	$42.2M0.0%	$42.2M	N/A	N/A	$0	N/A	N/A	$43K-98.1%	$2.3M+102.8%	$1.2M	N/A	N/A
Total Equity	-$96.0M+17.7%	-$116.8M-6.6%	-$109.5M-16.0%	-$94.4M-349.1%	-$21.0M-747.2%	-$2.5M+72.2%	-$8.9M+32.3%	-$13.2M-1092.7%	-$1.1M-110.8%	$10.2M+195.4%	-$10.7M-372.6%	$3.9M+1851.7%	-$224K+94.4%	-$4.0M+20.7%	-$5.0M
Retained Earnings	-$887.8M+0.4%	-$891.5M-5.9%	-$841.7M-9.9%	-$766.1M-38.4%	-$553.7M-47.5%	-$375.3M-60.1%	-$234.4M-35.4%	-$173.1M-40.8%	-$123.0M-26.5%	-$97.2M-35.9%	-$71.5M-54.0%	-$46.4M-36.6%	-$34.0M	N/A	N/A

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
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

Not reported in any period shown, so not listed: Accounts Receivable, Goodwill.

CYDY Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

CYDY annual cash flow statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Operating Cash Flow	-$18.0M	-$8.8M+20.2%	-$11.0M+56.3%	-$25.1M+67.7%	-$77.7M+33.9%	-$117.6M-70.9%	-$68.8M-36.3%	-$50.5M	N/A	-$26.7M-7.7%	-$24.8M-106.5%	-$12.0M-62.7%	-$7.4M-117.7%	-$3.4M+22.7%	-$4.4M-141.1%	-$1.8M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	$122K+197.6%	$41K+57.7%	$26K	$0-100.0%	$11K-7.0%	$12K-35.7%	$19K-3.3%	$19K+513.1%	$3K	N/A	$5K
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	-$117.7M-71.0%	-$68.8M-36.3%	-$50.5M	N/A	-$26.7M-7.7%	-$24.8M-106.2%	-$12.0M-62.5%	-$7.4M-118.1%	-$3.4M	N/A	-$1.8M
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	-$122K-197.6%	-$41K+8.9%	-$45K	$0+100.0%	-$11K+7.0%	-$12K	N/A	-$19K+99.5%	-$3.5M	N/A	-$5K
Financing Cash Flow	$17.2M	$10.9M-7.6%	$11.7M-60.7%	$29.9M-37.7%	$48.0M-65.0%	$137.3M+72.4%	$79.7M+51.0%	$52.7M	N/A	$18.9M-43.5%	$33.4M	N/A	N/A	$7.2M+98.3%	$3.6M+68.2%	$2.2M

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
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

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

CYDY Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

CYDY annual financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Gross Margin	N/A	N/A	N/A	80.1%	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	-54663.2%	N/A	N/A	N/A	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	N/A	-251.9%	N/A	-317.0%	N/A	N/A	N/A
Return on Assets	20.8%+468.3pp	-447.6%	N/A	N/A	-133.6%+143.4pp	-277.0%+13.9pp	-290.9%	N/A	-319.8%-133.4pp	-186.5%	N/A	-147.5%+82.6pp	-230.1%	N/A	-186.5%
Current Ratio	0.25+0.1x	0.130.0x	0.090.0x	0.09-0.2x	0.24-0.6x	0.83+0.6x	0.200.0x	0.20-0.8x	1.00-2.2x	3.21+3.0x	0.19-2.3x	2.51+2.3x	0.26+0.1x	0.20-0.1x	0.28
Debt-to-Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0.35	N/A	0.60	N/A	N/A	N/A

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
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+0.3x	0.10-0.1x	0.19-0.1x	0.250.0x	0.30-0.1x	0.350.0x	0.40+0.3x	0.13

Not reported in any period shown, so not listed: Net Margin, FCF Margin.

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin.

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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Where Cytodyn Inc Ranks

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) recorded an outflow of $8.8M in operating cash flow during fiscal year 2025, representing cash used by 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.

How many shares does Cytodyn Inc have outstanding?

Cytodyn Inc (CYDY) had 1.25B shares outstanding as of fiscal year 2025.

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 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.

How does Cytodyn Inc's liquidity compare with its operating cash outflow?

At the end of fiscal year 2025, Cytodyn Inc (CYDY) held $11.9M in cash, cash equivalents and investments, and reported an operating cash outflow of $8.8M over that year. Dividing the one by the other, the reported balance equals about 16 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.

Why is Cytodyn Inc's debt-to-equity ratio negative or not reported?

Cytodyn Inc (CYDY) has negative shareholder equity of -$96.0M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. 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 7 computable signals; 2 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 Cytodyn Inc's earnings high quality?

For every $1 of reported earnings, Cytodyn Inc (CYDY) used $2.34 of operating cash (-$8.8M OCF vs $3.7M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. 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.