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Enliven Therapeutics, Inc. (ELVN) Financials

ELVN
FY2025 annual
Net Income -$103.7M -16.5% YoY
EPS (Diluted) -$1.83 +3.2% YoY
Free Cash Flow -$70.5M +3.8% YoY
Operating Cash Flow -$70.3M +3.9% YoY
Market Cap $2.9B as of Oct 16, 2026
Price / Sales n/m no revenue reported
Price / Earnings n/m net loss, so no earnings multiple, FY2025
Price / Book 3.2x on $895.1M 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 16, 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 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the ELVN SEC filings page.

This page shows Enliven Therapeutics, Inc. (ELVN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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 ELVN FY2025

Enliven operates as a financing-supported development business: research spending drives losses while new capital expands its balance sheet.

From FY2023 to FY2025, the asset base increased from $271.9M to $476.2M while operating cash flow remained negative. Because FY2025 financing cash flow was $218.9M against operating cash flow of -$70.3M, the expansion was funded mainly through external financing rather than an emerging operating cash engine.

R&D reached $85.9M in FY2025 and represented roughly 72.0% of operating spending. That concentration makes the $119.7M operating loss look like the arithmetic of a development-stage cost structure, not evidence of a sales-margin model.

Operating cash conversion remained closely tied to reported losses: operating cash flow was -$70.3M against a net loss of $103.7M, so losses were translating into cash use without a larger operating outflow. Reported liquidity measured 79 months of annual outflow, while liabilities were only $16.6M; together, those figures describe substantial financial resources relative to current obligations.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Financial health score not available

Enliven 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.

Piotroski F-Score Partial
3/6

Enliven Therapeutics, Inc. passes 3 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.

Earnings Quality No Cash Backing
N/A

Enliven Therapeutics, Inc. reported a net loss of $103.7M while operations used $70.3M 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
-$37.2M
YoY-30.5%
QoQ-33.8%

Enliven Therapeutics, Inc.'s EBITDA was -$37.2M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 30.5% from the same quarter a year earlier. Against the prior quarter it is down 33.8%.

Net Income
-$32.5M
YoY-28.2%
QoQ-37.5%

Enliven Therapeutics, Inc. reported -$32.5M in net income in Q2 2026. This represents a decrease of 28.2% from the same quarter a year earlier. Against the prior quarter it is down 37.5%.

EPS (Diluted)
-$0.49
YoY0.0%
QoQ-28.9%

Enliven Therapeutics, Inc. earned -$0.49 per diluted share (EPS) in Q2 2026. That is unchanged from the same quarter a year earlier. Against the prior quarter it is down 28.9%.

Revenue

Not reported for Q2 2026.

Cash & Balance Sheet

Free Cash Flow
-$18.6M
YoY-8.3%
QoQ+3.4%

Enliven Therapeutics, Inc. recorded an outflow of $18.6M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 8.3% from the same quarter a year earlier. Against the prior quarter it is up 3.4%.

Cash & Debt
$135.5M
YoY+13.5%
QoQ+2.5%

Enliven Therapeutics, Inc. held $135.5M in cash as of Q2 2026; long-term debt is not reported for that period.

Shares Outstanding
73M
YoY+23.7%
QoQ+20.3%
5Y CAGR+22.8%

Enliven Therapeutics, Inc. had 73M shares outstanding in Q2 2026. This represents an increase of 23.7% from the same quarter a year earlier. Against the prior quarter it is up 20.3%.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Return on Equity
-3.6%
YoY+1.6pp
QoQ+1.6pp

Enliven Therapeutics, Inc.'s ROE was -3.6% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 1.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.6 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
$29.0M
YoY+34.9%
QoQ+40.2%

Enliven Therapeutics, Inc. invested $29.0M in research and development in Q2 2026. This represents an increase of 34.9% from the same quarter a year earlier. Against the prior quarter it is up 40.2%.

Capital Expenditures
$99K
YoY-28.8%

Enliven Therapeutics, Inc. invested $99K in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 28.8% from the same quarter a year earlier.

Share Buybacks

Not reported for Q2 2026.

ELVN 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.

ELVN quarterly income statement
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
R&D Expenses$29.0M+34.9%$20.7M-16.9%N/A$18.2M-14.3%$21.5M+14.2%$24.9M+24.7%N/A$21.3M+8.4%
SG&A Expenses$8.2M+15.8%$7.1M+5.0%N/A$6.9M+18.3%$7.1M+22.8%$6.8M+13.0%N/A$5.8M+25.2%
Operating Income-$37.2M-30.2%-$27.8M+12.2%N/A-$25.1M+7.3%-$28.6M-16.2%-$31.7M-22.0%N/A-$27.1M-11.6%
EBITDA-$37.2M-30.5%-$27.8M+12.0%N/A-$25.0M+7.2%-$28.5M-16.2%-$31.6M-22.0%N/A-$27.0M-11.7%
Income TaxN/AN/AN/A$0$0-100.0%N/AN/A$0
Net Income-$32.5M-28.2%-$23.6M+17.2%N/A-$20.1M+13.0%-$25.3M-27.0%-$28.5M-25.5%N/A-$23.2M-11.5%
EPS (Basic)-$0.490.0%-$0.38+33.3%-$0.48-4.3%-$0.32+33.3%-$0.49-19.5%-$0.57-5.6%-$0.460.0%-$0.48+5.9%
EPS (Diluted)-$0.490.0%-$0.38+33.3%-$0.48-4.3%-$0.32+33.3%-$0.49-19.5%-$0.57-5.6%-$0.460.0%-$0.48+5.9%
Diluted Shares (Avg)66M+27.0%63M+25.5%N/A62M+28.6%52M+8.4%50M+19.0%N/A48M+17.6%

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

ELVN 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.

ELVN quarterly balance sheet
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Total Assets$910.2M+80.6%$464.9M+53.6%$476.2M+46.2%$490.9M+60.7%$503.9M+54.1%$302.6M-11.7%$325.8M+19.8%$305.4M+11.5%
Current Assets$907.3M+83.1%$463.1M+57.4%$474.9M+49.3%$482.7M+62.5%$495.6M+55.8%$294.3M-12.7%$318.1M+19.5%$297.0M+10.6%
Cash & Equivalents$135.5M+13.5%$132.2M+30.0%$98.9M-20.3%$101.7M+1.1%$119.4M+23.3%$101.7M-31.8%$124.1M+23.9%$100.6M+36.3%
Short-Term Investments$759.6M+104.7%$320.2M+70.5%$363.7M+92.1%$375.8M+96.6%$371.1M+72.2%$187.8M+9.6%$189.3M+23.7%$191.2M+0.8%
Long-Term Investments$0$0$0$0$0$0$0$0
Total Liabilities$15.1M-2.2%$11.5M-19.5%$16.6M+4.1%$14.8M-13.4%$15.4M-30.3%$14.3M-43.1%$15.9M-38.7%$17.0M+38.5%
Current Liabilities$14.2M-6.9%$11.5M-17.8%$16.6M+4.1%$14.7M-14.0%$15.2M-31.2%$14.0M-44.2%$15.9M-38.5%$17.0M+41.0%
Non-Current Liabilities$913K+347.5%$0-100.0%$0$103K$204K+3300.0%$302K+788.2%$0-100.0%$0-100.0%
Total Equity$895.1M+83.3%$453.4M+57.3%$459.6M+48.3%$476.1M+65.1%$488.5M+60.2%$288.3M-9.3%$309.8M+26.0%$288.4M+10.2%
Retained Earnings-$403.3M-35.6%-$370.8M-36.3%-$347.2M-42.6%-$317.5M-44.1%-$297.4M-50.8%-$272.0M-53.5%-$243.5M-57.6%-$220.3M-63.1%

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

ELVN 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.

ELVN quarterly cash flow statement
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Operating Cash Flow-$18.5M-8.6%-$19.3M+20.0%-$15.8M+7.9%-$13.3M-8.9%-$17.1M+16.5%-$24.1M-3.3%-$17.2M-37.8%-$12.2M+23.3%
Depreciation & Amortization$7K-91.4%$14K-81.1%$83K+31.7%$62K-22.5%$81K+2.5%$74K-6.3%$63K-21.3%$80K+1.3%
Stock-Based Compensation$13.9M+80.2%$7.4M+8.8%N/A$7.2M+38.8%$7.7M+50.2%$6.8M+50.6%N/A$5.2M+52.2%
Capital Expenditures$99K-28.8%$0-100.0%$0-$1K-95.5%$139K+6850.0%$20K0.0%$0-100.0%$22K+37.5%
Free Cash Flow-$18.6M-8.3%-$19.3M+20.1%-$15.8M+7.9%-$13.3M-8.7%-$17.2M+15.9%-$24.1M-3.3%-$17.2M-37.7%-$12.2M+23.2%
Investing Cash Flow-$441.6M-140.5%$42.5M+2880.1%$12.4M+1602.8%-$4.1M-127.4%-$183.6M-445.3%$1.4M+108.0%$727K-98.1%$14.8M+141.7%
Financing Cash Flow$463.4M+112.2%$10.1M+4196.2%$623K-98.4%-$368K-132.9%$218.4M+11991.8%$234K-99.7%$40.0M+44313.3%$1.1M+362.8%

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

ELVN 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.

ELVN quarterly financial ratios
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Return on Equity-3.6%+1.6pp-5.2%+4.7ppN/A-4.2%+3.8pp-5.2%+1.3pp-9.9%-2.7ppN/A-8.0%-0.1pp
Return on Assets-3.6%+1.5pp-5.1%+4.3ppN/A-4.1%+3.5pp-5.0%+1.1pp-9.4%-2.8ppN/A-7.6%0.0pp
Current Ratio64.07+31.5x40.32+19.3x28.66+8.7x32.95+15.5x32.58+18.2x21.06+7.6x19.99+9.7x17.44-4.8x
Debt-to-Equity0.020.0x0.030.0x0.040.0x0.030.0x0.030.0x0.050.0x0.05-0.1x0.060.0x

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
Enliven Therapeutics, Inc. ELVN FY2025 N/A -$103.7M N/A $2.9B —
Dianthus Therapeutics, Inc. DNTH FY2025 $2.0M -$162.3M N/A $4.2B 55/100
Nuvation Bio Inc. NUVB FY2025 $62.9M -$204.6M N/A $1.6B 57/100
Zymeworks Inc. ZYME FY2025 $106.0M -$81.1M -76.6% $1.8B 76/100
Intellia Therapeutics, Inc NTLA FY2025 $67.7M -$412.7M N/A $1.6B 65/100
Arcus Biosciences, Inc. RCUS FY2025 $247.0M -$353.0M N/A $2.9B 61/100

Frequently Asked Questions

Is Enliven Therapeutics, Inc. profitable?

No, Enliven Therapeutics, Inc. (ELVN) reported a net income of -$103.7M in fiscal year 2025.

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

Enliven Therapeutics, Inc. (ELVN) reported diluted earnings per share of -$1.83 for fiscal year 2025. This represents a 3.2% 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.

What is Enliven Therapeutics, Inc.'s EBITDA?

Enliven Therapeutics, Inc. (ELVN) had EBITDA of -$119.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

Enliven Therapeutics, Inc. (ELVN) has a return on equity of -22.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Enliven Therapeutics, Inc. (ELVN) recorded an outflow of $70.5M in free cash flow during fiscal year 2025. This represents a 3.8% 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.

Enliven Therapeutics, Inc. (ELVN) recorded an outflow of $70.3M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

Enliven Therapeutics, Inc. (ELVN) had $476.2M in total assets as of fiscal year 2025, including both current and long-term assets.

Enliven Therapeutics, Inc. (ELVN) invested $158K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Enliven Therapeutics, Inc. (ELVN) invested $85.9M in research and development during fiscal year 2025.

Enliven Therapeutics, Inc. (ELVN) had 60M shares outstanding as of fiscal year 2025.

Enliven Therapeutics, Inc. (ELVN) had a current ratio of 28.66 as of fiscal year 2025, which is generally considered healthy.

Enliven Therapeutics, Inc. (ELVN) had a debt-to-equity ratio of 0.04 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Enliven Therapeutics, Inc. (ELVN) had a return on assets of -21.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Enliven Therapeutics, Inc. (ELVN) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $2.9B as of Oct 16, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Enliven Therapeutics, Inc. (ELVN) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $2.9B as of Oct 16, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

At the end of fiscal year 2025, Enliven Therapeutics, Inc. (ELVN) held $462.6M in cash, cash equivalents and investments, and reported an operating cash outflow of $70.3M over that year. Dividing the one by the other, the reported balance equals about 79 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.

Enliven Therapeutics, Inc. (ELVN) 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.

Enliven Therapeutics, Inc. (ELVN) reported a net loss of $103.7M while operations used $70.3M 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.

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