Decoy Therapeutics Inc. (DCOY) Financials
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 Sep 11, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 12, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the DCOY SEC filings page.
This page shows Decoy Therapeutics Inc. (DCOY) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 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).
External financing, not operating cash generation, is the dominant mechanic supporting a development-stage business with unstable reported earnings.
In FY2024, reported net income of$5.6M coexisted with operating cash flow of-$4.5M , so the accounting gain did not arrive as cash from operations. FY2025 repeats that split—$12.5M of net income alongside-$4.8M of operating cash flow—making earnings quality the central issue rather than reported profitability alone.
R&D spending fell from
FY2025 financing cash flow of
Financial Health Signals
Decoy Therapeutics 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.
Decoy Therapeutics Inc. passes 3 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, all 2 leverage/liquidity signals pass.
For every $1 of reported earnings, Decoy Therapeutics Inc. used $0.39 of operating cash (-$4.8M OCF vs $12.5M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
Key Financial Metrics
Earnings & Revenue
Decoy Therapeutics Inc. generated $228K in revenue in Q2 2026.
Decoy Therapeutics Inc.'s EBITDA was -$2.6M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 171.4% from the same quarter a year earlier. Against the prior quarter it is down 14.9%.
Decoy Therapeutics Inc. reported -$2.4M in net income in Q2 2026. This represents a decrease of 147.8% from the same quarter a year earlier. Against the prior quarter it is down 6.7%.
Decoy Therapeutics Inc. earned -$4.46 per diluted share (EPS) in Q2 2026. Against the prior quarter it is down 6.7%.
Cash & Balance Sheet
Decoy Therapeutics Inc. held $8.3M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Decoy Therapeutics Inc.'s ROE was -54.9% in Q2 2026, measuring profit generated per dollar of shareholder equity. Against the prior quarter it is up 2.4 percentage points.
Not reported for Q2 2026.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Decoy Therapeutics Inc. invested $1.3M in research and development in Q2 2026. This represents an increase of 1020.7% from the same quarter a year earlier. Against the prior quarter it is up 74.0%.
Not reported for Q2 2026.
Not reported for Q2 2026.
DCOY 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.
| 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 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $228K | N/A | N/A | N/A | $0 | N/A | N/A | N/A |
| R&D Expenses | $1.3M+1020.7% | $750K+892.7% | N/A | $62K-54.9% | $116K-45.7% | $76K-68.9% | N/A | $137K-86.8% |
| SG&A Expenses | $1.3M+56.2% | $1.5M-6.6% | N/A | $833K-4.1% | $849K-32.2% | $1.6M+7.5% | N/A | $869K-41.9% |
| Operating Income | -$2.6M-172.5% | -$2.3M-32.9% | N/A | -$895K+11.1% | -$966K+34.2% | -$1.7M+3.0% | N/A | -$1.0M+60.3% |
| EBITDA | -$2.6M-171.4% | -$2.3M-32.6% | N/A | -$894K+11.1% | -$964K+34.2% | -$1.7M+3.0% | N/A | -$1.0M+60.2% |
| Net Income | -$2.4M-147.8% | -$2.2M-30.1% | N/A | -$873K+10.1% | -$958K+32.8% | -$1.7M+0.3% | N/A | -$972K+60.2% |
| EPS (Basic) | -$4.46-5392.6% | -$4.18+98.3% | -$114.75-17286.4% | -$1.81+84.1% | -$0.08+96.6% | -$240.07-7241.6% | -$0.66-2100.0% | -$11.38-118.4% |
| EPS (Diluted) | -$4.46 | -$4.18 | -$114.75 | -$1.81 | -$81.21 | -$240.07 | -$0.66 | -$11.38 |
| Diluted Shares (Avg) | 531,968 | 531,968 | N/A | 481,587 | 11,794 | 7,121 | N/A | 85,458 |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, Interest Expense, Income Tax.
DCOY Balance Sheet
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.
| 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 | $9.0M+546.3% | $8.4M+260.1% | $11.1M+265.8% | $6.1M+58.0% | $1.4M-60.8% | $2.3M-52.1% | $3.0M-54.1% | $3.9M-54.1% |
| Current Assets | $8.6M+530.6% | $8.4M+262.6% | $11.0M+267.7% | $6.1M+58.7% | $1.4M-61.3% | $2.3M-52.3% | $3.0M-54.2% | $3.8M-54.1% |
| Cash & Equivalents | $8.3M+942.8% | $7.8M+334.9% | $10.7M+339.9% | $4.8M+46.5% | $795K-75.7% | $1.8M-58.9% | $2.4M-58.7% | $3.3M-56.7% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $4.7M+110.6% | $4.5M+99.6% | $5.2M+241.9% | $1.8M+97.8% | $2.2M+88.6% | $2.3M+84.5% | $1.5M+16.3% | $935K-59.7% |
| Current Liabilities | $4.7M | $4.5M | $5.2M+241.9% | N/A | N/A | N/A | $1.5M | N/A |
| Non-Current Liabilities | $0 | $0 | $0 | N/A | N/A | N/A | $0 | N/A |
| Total Equity | $4.3M+620.8% | $3.9M+6167.4% | $5.9M+289.6% | $4.2M+45.3% | -$830K-134.9% | $62K-98.3% | $1.5M-71.4% | $2.9M-51.9% |
| Retained Earnings | -$99.0M-17.1% | -$96.7M-15.6% | -$94.4M-15.3% | -$85.5M-6.2% | -$84.6M-6.4% | -$83.6M-7.1% | -$81.9M-7.3% | -$80.5M-6.6% |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
DCOY Cash Flow 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.
| 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 | -$2.7M-207.6% | -$2.9M-144.5% | -$1.1M-53.1% | -$1.6M-21.4% | -$862K+19.6% | -$1.2M+12.7% | -$743K+50.9% | -$1.4M+63.8% |
| Depreciation & Amortization | $14K+1132.5% | $6K+435.6% | $4K+246.6% | $1K+0.1% | $1K0.0% | $1K-0.1% | $1K+0.1% | $1K-80.3% |
| Stock-Based Compensation | N/A | $213K+535.3% | N/A | N/A | N/A | $34K-56.7% | N/A | N/A |
| Investing Cash Flow | N/A | N/A | $965K | -$200K | N/A | N/A | $0 | N/A |
| Financing Cash Flow | $3.2M+2340.1% | $0-100.0% | $6.1M+5775.7% | $5.9M+328.5% | -$141K-400.9% | $546K+415.8% | -$107K+36.9% | $1.4M+745.7% |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
DCOY 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.
| 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 Margin | -1155.8% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | -1042.8% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | -54.9% | -57.4%+2705.9pp | N/A | -20.6%+12.7pp | N/A | -2763.3%-2716.3pp | N/A | -33.2%+6.9pp |
| Return on Assets | -26.4%+42.4pp | -26.4%+46.7pp | N/A | -14.3%+10.9pp | -68.8%-28.7pp | -73.1%-38.0pp | N/A | -25.2%+3.9pp |
| Current Ratio | 1.83 | 1.84 | 2.13+0.1x | N/A | N/A | N/A | 1.98 | N/A |
| Debt-to-Equity | 1.08 | 1.17-35.6x | 0.88-0.1x | 0.44+0.1x | N/A | 36.81+36.5x | 1.00+0.8x | 0.32-0.1x |
| Asset Turnover | 0.030.0x | N/A | N/A | N/A | 0.00 | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Gross 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, Net Margin.
Where Decoy Therapeutics Inc. Ranks
Frequently Asked Questions
Is Decoy Therapeutics Inc. profitable?
Yes, Decoy Therapeutics Inc. (DCOY) reported a net income of $12.5M in fiscal year 2025.
What is Decoy Therapeutics Inc.'s EBITDA?
Decoy Therapeutics Inc. (DCOY) had EBITDA of -$12.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Decoy Therapeutics Inc.'s return on equity (ROE)?
Decoy Therapeutics Inc. (DCOY) has a return on equity of 212.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Decoy Therapeutics Inc.'s free cash flow?
Decoy Therapeutics Inc. (DCOY) recorded an outflow of $5.4M in free cash flow during fiscal year 2025. This represents a -19.4% 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 Decoy Therapeutics Inc.'s operating cash flow?
Decoy Therapeutics Inc. (DCOY) recorded an outflow of $4.8M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Decoy Therapeutics Inc.'s total assets?
Decoy Therapeutics Inc. (DCOY) had $11.1M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Decoy Therapeutics Inc.'s capital expenditures?
Decoy Therapeutics Inc. (DCOY) invested $577K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Decoy Therapeutics Inc. spend on research and development?
Decoy Therapeutics Inc. (DCOY) invested $368K in research and development during fiscal year 2025.
What is Decoy Therapeutics Inc.'s current ratio?
Decoy Therapeutics Inc. (DCOY) had a current ratio of 2.13 as of fiscal year 2025, which is generally considered healthy.
What is Decoy Therapeutics Inc.'s debt-to-equity ratio?
Decoy Therapeutics Inc. (DCOY) had a debt-to-equity ratio of 0.88 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Decoy Therapeutics Inc.'s return on assets (ROA)?
Decoy Therapeutics Inc. (DCOY) had a return on assets of 113.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Decoy Therapeutics Inc.'s P/E ratio?
Decoy Therapeutics Inc. (DCOY) trades at 0.1x earnings, its market capitalization divided by net income of $12.5M net income, FY2025. The market capitalization is $1.7M as of Sep 11, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Decoy Therapeutics Inc.'s price-to-sales ratio?
Decoy Therapeutics Inc. (DCOY) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $1.7M as of Sep 11, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Decoy Therapeutics Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Decoy Therapeutics Inc. (DCOY) held $10.7M in cash, cash equivalents and investments, and reported an operating cash outflow of $4.8M over that year. Dividing the one by the other, the reported balance equals about 27 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 Decoy Therapeutics Inc.'s Piotroski F-Score?
Decoy Therapeutics Inc. (DCOY) has a Piotroski F-Score of 3 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 Decoy Therapeutics Inc.'s earnings high quality?
For every $1 of reported earnings, Decoy Therapeutics Inc. (DCOY) used $0.39 of operating cash (-$4.8M OCF vs $12.5M 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.