Erasca, Inc. Financials
This page shows Erasca, Inc. (ERAS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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).
An R&D-heavy balance sheet is buying time, while cash burn still mirrors the loss line rather than easing.
Across the last three years, operating cash outflow stayed clustered near-$100M even as the net loss improved to-$124.5M in the latest year. That is why the key financing event was the earlier$240.7M financing inflow rather than the latest year's$1.1M , so the balance sheet is still drawing on past fundraising.
Short-term solvency looks comfortable: current assets were
The cost base remains overwhelmingly research-led: R&D expense was
Financial Health Signals
Erasca, 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.
Erasca, 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.
Erasca, Inc. reported a net loss of $124.5M while operations used $95.5M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Erasca, Inc.'s EBITDA was -$137.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 21.6% from the prior year.
Erasca, Inc. reported -$124.5M in net income in fiscal year 2025. This represents an increase of 23.0% from the prior year.
Erasca, Inc. earned -$0.44 per diluted share (EPS) in fiscal year 2025. This represents an increase of 36.2% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Erasca, Inc. recorded an outflow of $95.6M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents an increase of 12.7% from the prior year.
Erasca, Inc. held $73.8M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Erasca, Inc. paid $0.00 per share in dividends in fiscal year 2025.
Margins & Returns
Erasca, Inc.'s ROE was -38.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.1 percentage points from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
Erasca, Inc. invested $92.9M in research and development in fiscal year 2025. This represents a decrease of 19.5% from the prior year.
Erasca, Inc. invested $128K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 113.3% from the prior year.
Not reported for fiscal year 2025.
ERAS Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|---|
| R&D Expenses | N/A | $92.9M-19.5% | $115.4M+11.1% | $103.8M-7.7% | $112.5M+52.1% | $73.9M+150.2% | $29.6M |
| SG&A Expenses | N/A | $38.6M-7.6% | $41.7M+10.7% | $37.7M+14.3% | $33.0M+45.9% | $22.6M+184.2% | $8.0M |
| Operating Income | N/A | -$140.9M+21.5% | -$179.6M-26.9% | -$141.5M+42.8% | -$247.4M-98.1% | -$124.9M-14.3% | -$109.3M |
| Income Tax | N/A | $0 | $0 | N/A | N/A | N/A | N/A |
| Net Income | N/A | -$124.5M+23.0% | -$161.7M-29.3% | -$125.0M+48.5% | -$242.8M-97.8% | -$122.8M-20.8% | -$101.7M |
| EPS (Diluted) | — | -$0.44+36.2% | -$0.69 | -$0.83+58.3% | -$1.99 | -$1.85 | N/A |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Interest Expense.
TTM is the trailing twelve months, Q3 FY2025 through Q2 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.
ERAS Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|
| Total Assets | $396.2M-21.2% | $502.5M+27.1% | $395.3M-23.2% | $514.9M+2.7% | $501.4M+301.7% | $124.8M |
| Current Assets | $286.2M-7.3% | $308.8M-3.7% | $320.7M-27.9% | $444.5M+5.8% | $420.0M+250.0% | $120.0M |
| Cash & Equivalents | $73.8M+9.0% | $67.7M-27.2% | $93.1M-67.3% | $284.2M-21.2% | $360.5M+451.4% | $65.4M |
| Total Liabilities | $71.0M-10.2% | $79.0M+0.5% | $78.6M-23.7% | $103.1M+129.6% | $44.9M-81.2% | $238.8M |
| Current Liabilities | $28.5M-9.2% | $31.4M+20.0% | $26.2M-46.3% | $48.7M+85.7% | $26.2M+91.7% | $13.7M |
| Total Equity | $325.2M-23.2% | $423.5M+33.7% | $316.7M-23.1% | $411.9M-9.8% | $456.5M+500.5% | -$114.0M |
| Retained Earnings | -$892.2M-16.2% | -$767.7M-26.7% | -$606.0M-26.0% | -$481.0M-101.9% | -$238.2M-106.4% | -$115.4M |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
ERAS Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$98.0M | -$95.5M+12.8% | -$109.4M-8.1% | -$101.2M+2.0% | -$103.3M-29.7% | -$79.6M-143.5% | -$32.7M |
| Capital Expenditures | $59K | $128K+113.3% | $60K-96.6% | $1.8M-87.8% | $14.6M+29.9% | $11.2M+1083.2% | $947K |
| Free Cash Flow | -$98.1M | -$95.6M+12.7% | -$109.5M-6.3% | -$103.0M+12.6% | -$117.8M-29.7% | -$90.8M-170.0% | -$33.6M |
| Investing Cash Flow | -$173.9M | $100.4M+164.1% | -$156.6M-71.7% | -$91.2M-28.3% | -$71.1M-10.0% | -$64.6M+9.3% | -$71.2M |
| Financing Cash Flow | $248.3M | $1.1M-99.5% | $240.7M+18486.6% | $1.3M-98.7% | $98.1M-77.7% | $439.4M+213.9% | $140.0M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TTM is the trailing twelve months, Q3 FY2025 through Q2 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.
ERAS Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|
| Return on Equity | -38.3%-0.1pp | -38.2%+1.3pp | -39.5%+19.5pp | -59.0%-32.1pp | -26.9% | N/A |
| Return on Assets | -31.4%+0.7pp | -32.2%-0.5pp | -31.6%+15.5pp | -47.1%-22.7pp | -24.5%+57.0pp | -81.4% |
| Current Ratio | 10.04+0.2x | 9.84-2.4x | 12.26+3.1x | 9.13-6.9x | 16.02+7.2x | 8.77 |
| Debt-to-Equity | 0.220.0x | 0.19-0.1x | 0.250.0x | 0.25+0.2x | 0.10 | N/A |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, FCF Margin.
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Where Erasca, Inc. Ranks
Frequently Asked Questions
Is Erasca, Inc. profitable?
No, Erasca, Inc. (ERAS) reported a net income of -$124.5M in fiscal year 2025.
What is Erasca, Inc.'s EBITDA?
Erasca, Inc. (ERAS) had EBITDA of -$137.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Erasca, Inc.'s return on equity (ROE)?
Erasca, Inc. (ERAS) has a return on equity of -38.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Erasca, Inc.'s free cash flow?
Erasca, Inc. (ERAS) recorded an outflow of $95.6M in free cash flow during fiscal year 2025. This represents a 12.7% 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 Erasca, Inc.'s operating cash flow?
Erasca, Inc. (ERAS) recorded an outflow of $95.5M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Erasca, Inc.'s total assets?
Erasca, Inc. (ERAS) had $396.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Erasca, Inc.'s capital expenditures?
Erasca, Inc. (ERAS) invested $128K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Erasca, Inc. spend on research and development?
Erasca, Inc. (ERAS) invested $92.9M in research and development during fiscal year 2025.
What is Erasca, Inc.'s current ratio?
Erasca, Inc. (ERAS) had a current ratio of 10.04 as of fiscal year 2025, which is generally considered healthy.
What is Erasca, Inc.'s debt-to-equity ratio?
Erasca, Inc. (ERAS) had a debt-to-equity ratio of 0.22 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Erasca, Inc.'s return on assets (ROA)?
Erasca, Inc. (ERAS) had a return on assets of -31.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Erasca, Inc.'s cash runway?
Based on fiscal year 2025 data, Erasca, Inc. (ERAS) had $73.8M in cash against an annual operating cash burn of $95.5M. This gives an estimated cash runway of approximately 9 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.
What is Erasca, Inc.'s Piotroski F-Score?
Erasca, Inc. (ERAS) 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 Erasca, Inc.'s earnings high quality?
Erasca, Inc. (ERAS) reported a net loss of $124.5M while operations used $95.5M 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.