Durect (DRRX) Financials
Newest figures come from the 10-Q for Q2 FY2025, filed Aug 13, 2025. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the DRRX SEC filings page.
Durect Corp (DRRX) reported $2.0M in revenue for fiscal year 2024, down 21.6% from the prior fiscal year. This page shows its 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.
DURECT’s numbers describe a development-stage business where sales remain small and research spending drives the economic model.
FY2024’s net loss of$8.3M sat beside operating cash flow of-$19.1M ; accounting losses understated the cash consumed by ongoing operations. That gap matters because it links reported earnings to funding needs, while the reported 7.4 months of annual outflow measure places the latest balance against recent cash use rather than forecasting future operations.
R&D was
Capital expenditures were
Financial Health Signals
Scored against emerging companies for FY2024. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Durect Corp'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.
Durect Corp held $11.8M in cash, cash equivalents and investments at the end of fiscal year 2024, and its operations used $19.1M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Durect Corp scores 26/100 among other emerging companies.
Durect Corp had 31M shares outstanding at the end of fiscal year 2024, against 31M in fiscal year 2023. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Durect Corp scores 49/100 among other emerging companies.
Durect Corp spent $10.4M on research and development in fiscal year 2024, which was 49.6% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Durect Corp scores 76/100 among other emerging companies.
Durect Corp reported revenue of $2.0M in fiscal year 2024, against $2.6M in fiscal year 2023. Revenue Progress ranks emerging companies on the three-year path of that line, and Durect Corp scores 1/100 among other emerging companies.
Durect Corp's operations used $19.1M of cash in fiscal year 2024, against $34.4M used in fiscal year 2023. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Durect Corp scores 63/100 among other emerging companies.
Durect Corp's cash, cash equivalents and investments came to $11.8M at the end of fiscal year 2024, against $9.2M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Durect Corp scores 66/100 among other emerging companies.
Durect Corp passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
Durect Corp reported a net loss of $8.3M while operations used $19.1M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Durect Corp generated $447K in revenue in Q2 2025. This represents a decrease of 30.8% from the same quarter a year earlier. Against the prior quarter it is up 39.3%.
Durect Corp's EBITDA was -$2.8M in Q2 2025, measuring earnings before interest, taxes, depreciation, and amortization. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Durect Corp reported a net loss of $2.3M in Q2 2025. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Durect Corp earned -$0.07 per diluted share (EPS) in Q2 2025. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Cash & Balance Sheet
Durect Corp recorded an outflow of $1.8M in free cash flow in Q2 2025, representing a cash shortfall after capex. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Durect Corp held $6.5M in cash as of Q2 2025; no long-term debt figure is on record for that period.
Not reported for Q2 2025.
Margins & Returns
Durect Corp's gross margin was 98.4% in Q2 2025, indicating the percentage of revenue retained after direct costs. This is up 2.6 percentage points from the same quarter a year earlier.
Durect Corp's quarterly ROE was -65.0% in Q2 2025: one quarter's net income over shareholder equity, not annualized. This is up 8.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 14.1 percentage points.
Not shown for Q2 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Durect Corp invested $1.2M in research and development in Q2 2025. This represents a decrease of 47.7% from the same quarter a year earlier. Against the prior quarter it is down 37.5%.
Durect Corp reported no capital expenditure in Q2 2025. Against the prior quarter it is down 100.0%.
Not reported for Q2 2025.
DRRX 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 | Q2'2510-Q | Q1'25Filing | Q4'2410-Q | Q3'24Filing | Q2'2410-Q | Q1'24Filing | Q4'23Filing | Q3'23Filing |
|---|---|---|---|---|---|---|---|---|
| Revenue | $447K-30.8% | $321K-35.3% | N/A | $1.9M+10.5% | $646K-69.0% | $496K-75.9% | $2.7M-19.5% | $1.7M-85.4% |
| Cost of Revenue | $7K-74.1% | N/A | N/A | $513K+64.4% | $27K-92.5% | $289K-25.5% | N/A | $312K-9.6% |
| Gross Profit | $440K-28.9% | N/A | N/A | $1.4M-1.3% | $619K-64.1% | $207K-87.6% | N/A | $1.4M-87.7% |
| R&D Expenses | $1.2M-47.7% | $1.9M-54.3% | N/A | $2.2M-69.9% | $2.2M-71.7% | $4.1M-52.1% | $5.6M-43.6% | $7.2M-27.1% |
| SG&A Expenses | $2.1M-19.4% | $2.6M-3.9% | N/A | $3.2M-15.1% | $2.6M-33.0% | $2.7M-34.5% | $2.7M-39.0% | $3.8M-2.4% |
| Operating Income | -$2.8Mn/m | -$4.1Mn/m | N/A | -$4.0Mn/m | -$4.2Mn/m | -$6.3Mn/m | -$6.3Mn/m | -$9.6Mn/m |
| EBITDA | -$2.8M | -$4.1Mn/m | N/A | -$3.9Mn/m | N/A | -$6.3Mn/m | N/A | -$9.5Mn/m |
| Net Income | -$2.3Mn/m | -$4.2Mn/m | N/A | -$4.3Mn/m | -$3.7Mn/m | -$7.6Mn/m | -$1.4Mn/m | -$3.0Mn/m |
| EPS (Basic) | -$0.07n/m | -$0.13n/m | $0.24n/m | -$0.14n/m | -$0.12n/m | -$0.25n/m | -$0.01 | -$0.11 |
| EPS (Diluted) | -$0.07n/m | -$0.13n/m | $0.24n/m | -$0.14n/m | -$0.12n/m | -$0.25n/m | -$0.13 | -$0.14 |
| Diluted Shares (Avg) | 31M+0.4% | 31M+1.3% | N/A | 31M+12.8% | 31M+26.6% | 31M+28.0% | N/A | 28M |
Not reported in any period shown, so not listed: Interest Expense, Income Tax.
DRRX 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 | Q2'2510-Q | Q1'25Filing | Q4'2410-Q | Q3'24Filing | Q2'2410-Q | Q1'24Filing | Q4'23Filing | Q3'23Filing |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $12.5M-58.2% | $14.4M-60.4% | $18.3M-59.4% | $24.1M-56.0% | $29.9M-38.6% | $36.2M-37.9% | $45.2M-24.8% | $54.7M-20.1% |
| Current Assets | $7.8M-61.0% | $9.4M-63.9% | $13.2M-62.0% | $14.4M-67.1% | $19.9M-50.5% | $26.1M-48.4% | $34.7M-32.5% | $43.8M-26.2% |
| Cash & Equivalents | $6.5M-58.4% | $8.0M-58.6% | $11.0M-61.2% | $9.1M-76.7% | $15.6M-50.7% | $19.3M-51.0% | $28.4M-34.7% | $39.0M-22.6% |
| Short-Term Investments | $0n/m | $297K-86.4% | $792K-38.1% | $1.3Mn/m | $0-100.0% | $2.2M-55.6% | $1.3Mn/m | $0-100.0% |
| Inventory | $291K-88.2% | $85K-96.5% | $106K-19.7% | $2.4M-5.8% | $2.5M+9.4% | $2.4M+8.5% | $132K-93.8% | $2.5M+11.1% |
| Accounts Receivable | $511K-49.5% | $330K-67.6% | $453K-26.7% | $1.0M+15.1% | $1.0M-22.4% | $1.0M-27.2% | $618K-81.9% | $883K-72.7% |
| Long-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Goodwill | $2.7M-55.8% | $2.7M-55.8% | $2.7M-55.8% | $6.2M0.0% | $6.2M0.0% | $6.2M0.0% | $6.2M0.0% | $6.2M0.0% |
| Total Liabilities | $9.0M-63.7% | $9.0M-67.7% | $9.2M-69.7% | $22.8M-43.3% | $24.8M-42.5% | $27.9M-35.1% | $30.4M-13.4% | $40.3M+19.9% |
| Current Liabilities | $7.9M-64.0% | $7.7M-69.0% | $7.7M-71.5% | $20.2M-45.0% | $21.9M-47.1% | $24.7M-41.2% | $27.0M-20.6% | $36.8M+175.2% |
| Non-Current Liabilities | $1.1M-61.7% | $1.3M-58.0% | $1.5M-55.6% | $2.6M-26.0% | $2.9M+67.3% | $3.2M+245.5% | $3.4M+205.6% | $3.6M-82.4% |
| Long-Term Debt | N/A | N/A | N/A | $10.5M-44.0% | $12.5M-39.5% | $14.6M-31.4% | $16.7M-21.3% | $18.7M+4.3% |
| Total Equity | $3.5M-30.9% | $5.4M-35.5% | $9.1M-38.2% | $1.2M-91.6% | $5.0M-8.4% | $8.3M-45.9% | $14.8M-40.8% | $14.4M-58.7% |
| Retained Earnings | -$603.8Mn/m | -$601.6Mn/m | -$597.3Mn/m | -$604.6Mn/m | -$600.3Mn/m | -$596.6Mn/m | -$589.0Mn/m | -$587.6Mn/m |
DRRX 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 | Q2'2510-Q | Q1'25Filing | Q4'2410-Q | Q3'24Filing | Q2'2410-Q | Q1'24Filing | Q4'23Filing | Q3'23Filing |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.8Mn/m | -$3.5Mn/m | -$5.5Mn/m | -$3.1Mn/m | -$3.7Mn/m | -$6.8Mn/m | -$8.3Mn/m | -$7.5Mn/m |
| Depreciation & Amortization | $20K | $69K+35.3% | $12K | $23K-69.7% | N/A | $51K+15.9% | N/A | $76K+90.0% |
| Stock-Based Compensation | $397K-6.4% | $452K-11.2% | N/A | $458K-30.7% | $424K-35.7% | $509K-15.4% | N/A | $661K+14.4% |
| Capital Expenditures | $0 | $7K | N/A | N/A | N/A | N/A | $0-100.0% | $13K-55.2% |
| Free Cash Flow | -$1.8M | -$3.6M | N/A | N/A | N/A | N/A | -$8.3Mn/m | -$7.5Mn/m |
| Investing Cash Flow | $300K-86.4% | $496Kn/m | $18.0Mn/m | -$1.3M-143.3% | $2.2M+19.5% | -$887Kn/m | -$1.0M-170.1% | $3.0M-46.0% |
| Financing Cash Flow | N/A | N/A | -$10.6Mn/m | -$2.1M-118.2% | -$2.1Mn/m | -$1.5M-115.0% | -$1.2M-5208.3% | $11.8M+46928.0% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
DRRX 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 | Q2'2510-Q | Q1'25Filing | Q4'2410-Q | Q3'24Filing | Q2'2410-Q | Q1'24Filing | Q4'23Filing | Q3'23Filing |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 98.4%+2.6pp | N/A | N/A | 73.4%-8.7pp | 95.8%+13.1pp | 41.7%-39.4pp | N/A | 82.1%-15.0pp |
| Operating Margin | -627.1% | -1289.4% | N/A | -205.9% | -649.2% | -1271.0% | -234.3% | -548.0% |
| Net Margin | -506.7% | -1318.4% | N/A | -222.4% | -572.8% | -1540.9% | -54.0% | -172.9% |
| Return on Equity | -65.0%+8.4pp | -79.1%+13.0pp | N/A | -352.1%-331.2pp | -73.5%+129.8pp | -92.1%-13.9pp | -9.7%+32.2pp | -20.9%-13.8pp |
| Return on Assets | -18.1%-5.8pp | -29.5%-8.4pp | N/A | -17.8%-12.3pp | -12.4%+10.6pp | -21.1%-0.6pp | -3.2%+14.2pp | -5.5%-1.9pp |
| Current Ratio | 0.98+0.1x | 1.23+0.2x | 1.71+0.4x | 0.71-0.5x | 0.91-0.1x | 1.05-0.1x | 1.28-0.2x | 1.19-3.3x |
| Debt-to-Equity | N/A | N/A | N/A | 8.60+7.3x | 2.49-1.3x | 1.76+0.4x | 1.13+0.3x | 1.30+0.8x |
| Liabilities-to-Equity | 2.58-2.3x | 1.68-1.7x | 1.01-1.0x | 18.77+16.0x | 4.93-2.9x | 3.36+0.6x | 2.06+0.7x | 2.80+1.8x |
| Asset Turnover | 0.040.0x | 0.020.0x | N/A | 0.080.0x | 0.020.0x | 0.010.0x | 0.060.0x | 0.03-0.1x |
| FCF Margin | -394.0% | -1106.2% | N/A | N/A | N/A | N/A | -311.9% | -429.8% |
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, 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. Market cap is stated at each company's latest close.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Durect Corp DRRX | FY2024 | $2.0M | -$8.3M | N/A | N/A | 47/100 |
| Neurocrine Biosciences Inc NBIX | FY2025 | $2.9B | $478.6M | 16.7% | $14.8B | 79/100 |
| Liquidia Corporation LQDA | FY2025 | $158.3M | -$68.9M | -43.5% | $3.7B | 64/100 |
| Amylyx Pharmaceuticals, Inc. AMLX | FY2025 | $0 | -$144.7M | N/A | $3.5B | — |
| Supernus Pharmaceuticals, Inc. SUPN | FY2025 | $719.0M | -$38.5M | -5.4% | $2.4B | 53/100 |
| BioCryst Pharmaceuticals Inc BCRX | FY2025 | $874.8M | $263.9M | 30.2% | $2.1B | 73/100 |
Where Durect Corp Ranks
Frequently Asked Questions
Durect Corp (DRRX) reported $2.0M in total revenue for fiscal year 2024. This represents a -21.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Durect Corp (DRRX) revenue declined by 21.6% year-over-year, from $2.6M to $2.0M in fiscal year 2024.
No, Durect Corp (DRRX) reported a net loss of $8.3M in fiscal year 2024.
Durect Corp (DRRX) had EBITDA of -$18.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
Durect Corp (DRRX) had a gross margin of 96.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
Durect Corp (DRRX) has a return on equity of -91.2% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
Durect Corp (DRRX) recorded an outflow of $19.1M in free cash flow during fiscal year 2024. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. 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.
Durect Corp (DRRX) recorded an outflow of $19.1M in operating cash flow during fiscal year 2024, representing cash used by core business activities.
Durect Corp (DRRX) had $18.3M in total assets as of fiscal year 2024, including both current and long-term assets.
Durect Corp (DRRX) reported no capital expenditure during fiscal year 2024.
Durect Corp (DRRX) invested $10.4M in research and development during fiscal year 2024.
Durect Corp (DRRX) had a current ratio of 1.71 as of fiscal year 2024, which is generally considered healthy.
Durect Corp (DRRX) had a liabilities-to-equity ratio of 1.01 as of fiscal year 2024, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity. No debt-to-equity ratio is shown for fiscal year 2024, because the filing data we hold for that year carries no long-term debt figure.
Durect Corp (DRRX) had a return on assets of -45.4% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
At the end of fiscal year 2024, Durect Corp (DRRX) held $11.8M in cash, cash equivalents and investments, and reported an operating cash outflow of $19.1M over that year. Dividing the one by the other, the reported balance equals about 7 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.
Durect Corp (DRRX) has a Piotroski F-Score of 4 out of 8 computable signals; 1 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.
Durect Corp (DRRX) reported a net loss of $8.3M while operations used $19.1M 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.
Durect Corp (DRRX) scores 47 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is the average of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.