Ernexa Therapeutics Inc. (ERNA) 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 Oct 2, 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 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the ERNA SEC filings page.
This page shows Ernexa Therapeutics Inc. (ERNA) 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).
Ernexa remains a development-stage business, with operating cash needs funded largely through financing rather than customer revenue.
From FY2024 to FY2025, operating cash outflow narrowed from-$15.8M to-$7.0M while financing inflow increased from$6.3M to$7.2M ; the business used less cash, but still relied on outside funding rather than internally generated revenue. R&D remained$4.2M in FY2025 against no reported revenue, so the losses describe ongoing development investment more than a scaled commercial cost structure.
Cash use is primarily operational, not capital-intensive. FY2025 operating cash flow of
Liquidity improved only to a narrow position. The current ratio rose from 0.8x in FY2024 to 1.0x in FY2025, while debt-to-equity declined from 2.1x to 1.4x, indicating lower balance-sheet leverage but limited short-term cushion. Total liabilities of
Financial Health Signals
Ernexa 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.
Ernexa Therapeutics Inc. passes 3 of 5 computable financial strength tests (4 of the nine could not be computed from available data). 1 of 3 profitability signals pass, all 2 leverage/liquidity signals pass.
Ernexa Therapeutics Inc. reported a net loss of $14.1M while operations used $7.0M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Ernexa Therapeutics Inc. reported an operating loss of $9.3M against $22K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Ernexa Therapeutics Inc.'s EBITDA was -$4.0M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 100.1% from the same quarter a year earlier. Against the prior quarter it is up 28.3%.
Ernexa Therapeutics Inc. reported -$4.0M in net income in Q2 2026. This represents a decrease of 27.7% from the same quarter a year earlier. Against the prior quarter it is up 27.2%.
Ernexa Therapeutics Inc. earned -$3.40 per diluted share (EPS) in Q2 2026. Against the prior quarter it is up 51.1%.
Not reported for Q2 2026.
Cash & Balance Sheet
Ernexa Therapeutics Inc. recorded an outflow of $4.2M in free cash flow in Q2 2026, representing a cash shortfall after capex. Against the prior quarter it is down 83.4%.
Ernexa Therapeutics Inc. held $5.0M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
Ernexa Therapeutics Inc.'s ROE was -125.3% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 54.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 45.0 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Ernexa Therapeutics Inc. invested $2.8M in research and development in Q2 2026. This represents an increase of 145.8% from the same quarter a year earlier. Against the prior quarter it is up 45.8%.
Ernexa Therapeutics Inc. invested $3K in capex in Q2 2026, funding long-term assets and infrastructure. Against the prior quarter it is up 50.0%.
Not reported for Q2 2026.
ERNA 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 | N/A | N/A | N/A | N/A | N/A | N/A | $1K | $487K+854.9% |
| Cost of Revenue | $0 | N/A | N/A | N/A | $0-100.0% | N/A | $0 | -$60K-150.0% |
| R&D Expenses | $2.8M+145.8% | $1.9M+46.3% | N/A | $1.0M+3.4% | $1.1M+15.1% | $1.3M-10.2% | $1.2M | $1.0M-27.8% |
| SG&A Expenses | $1.3M-3.9% | $1.6M+14.8% | N/A | $958K-71.7% | $1.4M-65.0% | $1.4M-67.1% | $1.5M | $3.4M-16.5% |
| Operating Income | -$4.1M-64.1% | -$5.6M-104.8% | N/A | -$2.0M+11.8% | -$2.5M+49.3% | -$2.7M+52.8% | -$2.7M | -$2.3M+59.0% |
| EBITDA | -$4.0M-100.1% | -$5.6M-105.8% | N/A | -$1.9M+12.3% | -$2.0M+58.6% | -$2.7M+52.8% | -$2.8M | -$2.2M+60.6% |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | $6K-98.5% | -$2.7M | $1.7M+1404.4% |
| Income Tax | N/A | -$40K-600.0% | N/A | $6K-50.0% | $3K0.0% | $8K+100.0% | $11K | $12K+250.0% |
| Net Income | -$4.0M-27.7% | -$5.5M+32.9% | N/A | -$1.2M+95.3% | -$3.1M+43.2% | -$8.2M-23.4% | N/A | -$26.6M-375.8% |
| EPS (Basic) | -$3.40+77.6% | -$6.95+88.0% | -$0.01-100.3% | -$0.15+99.8% | -$15.19+1.0% | -$57.76-4595.9% | $3.91+443.0% | -$73.70-7055.3% |
| EPS (Diluted) | -$3.40 | -$6.95 | -$0.01-100.3% | -$0.15 | -$15.19 | -$57.76 | $3.91 | -$73.70 |
| Diluted Shares (Avg) | 1M | 792,000 | N/A | 8M | 207,000 | 142,000 | N/A | 361,000 |
Not reported in any period shown, so not listed: Gross Profit.
ERNA 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 | $6.3M-16.7% | $10.5M+108.4% | $5.8M+10.7% | $6.2M-20.0% | $7.6M-83.7% | $5.1M-89.8% | $5.3M-89.3% | $7.7M-85.2% |
| Current Assets | $5.9M+23.0% | $10.0M+352.1% | $3.1M+33.2% | $3.4M-28.6% | $4.8M+33.7% | $2.2M-64.1% | $2.4M-75.5% | $4.7M-32.7% |
| Cash & Equivalents | $5.0M+16.5% | $9.2M+378.5% | $1.9M+9.0% | $3.0M-28.5% | $4.3M+66.9% | $1.9M-62.5% | $1.7M-77.2% | $4.3M-6.3% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | N/A | N/A | $2.0M0.0% | $2.0M0.0% | $2.0M0.0% | $2.0M0.0% | $2.0M0.0% | $2.0M0.0% |
| Total Liabilities | $3.1M-0.8% | $3.7M-66.5% | $3.4M-3.8% | $2.6M-95.1% | $3.1M-94.3% | $11.0M-79.3% | $3.6M-92.4% | $53.1M+9.1% |
| Current Liabilities | $2.9M+10.6% | $3.5M-66.9% | $3.1M+6.0% | $2.1M-78.5% | $2.7M-72.4% | $10.4M+34.4% | $2.9M-55.3% | $10.0M+3.4% |
| Non-Current Liabilities | $183K-62.6% | $227K-60.2% | $320K-49.2% | $458K-98.9% | $489K-98.9% | $571K-98.7% | $630K-98.4% | $43.2M+10.5% |
| Total Equity | $3.2M-28.0% | $6.9M+215.3% | $2.4M+41.2% | $3.6M+107.9% | $4.4M+152.1% | -$6.0M-74.4% | $1.7M-23.8% | -$45.4M-1374.4% |
| Retained Earnings | -$255.2M-5.1% | -$251.1M-4.8% | -$245.6M-6.1% | -$244.1M-8.1% | -$242.9M-22.0% | -$239.7M-23.8% | -$231.5M-23.8% | -$225.8M-24.9% |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Long-Term Debt.
ERNA 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 | -$4.2M-64.0% | -$2.3M-9.6% | -$1.1M+67.6% | -$1.3M+79.8% | -$2.5M-12.1% | -$2.1M+44.9% | -$3.5M+23.9% | -$6.3M-7.9% |
| Depreciation & Amortization | $100K-80.0% | $8K-55.6% | $13K-31.6% | $100K0.0% | $500K+400.0% | $18K-53.8% | $19K-13.6% | $100K+400.0% |
| Stock-Based Compensation | $320K-13.0% | $309K-38.4% | N/A | $293K-27.7% | $368K-13.0% | $502K+78.0% | N/A | $405K+132.8% |
| Capital Expenditures | $3K | $2K | $15K | N/A | N/A | N/A | $0-100.0% | $19K |
| Free Cash Flow | -$4.2M | -$2.3M | -$1.2M+67.2% | N/A | N/A | N/A | -$3.5M+24.3% | -$6.3M-8.2% |
| Investing Cash Flow | -$3K | -$2K | -$15K | N/A | N/A | N/A | $0+100.0% | -$19K |
| Financing Cash Flow | $6K-99.9% | $9.6M+324.1% | $0-100.0% | $26K-99.3% | $4.9M+22504.5% | $2.3M+62.7% | $1.0M-86.9% | $3.9M-54.5% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
ERNA 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 | N/A | N/A | N/A | N/A | N/A | N/A | -269700.0% | -463.9% |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -5462.8% |
| Return on Equity | -125.3%-54.6pp | -80.3% | N/A | -34.7% | -70.6% | N/A | N/A | N/A |
| Return on Assets | -63.5%-22.1pp | -52.2%+109.9pp | N/A | -20.1%+324.6pp | -41.4%-29.5pp | -162.1%-148.7pp | N/A | -344.7%-334.0pp |
| Current Ratio | 2.01+0.2x | 2.89+2.7x | 1.01+0.2x | 1.58+1.1x | 1.81+1.4x | 0.21-0.6x | 0.80-0.7x | 0.48-0.3x |
| Debt-to-Equity | 0.97+0.3x | 0.54 | 1.43-0.7x | 0.73 | 0.71 | N/A | 2.10-18.9x | N/A |
| Asset Turnover | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 | 0.06+0.1x |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | -354500.0% | -1294.5% |
Not reported in any period shown, so not listed: Gross 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, 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 |
|---|---|---|---|---|---|---|
| Ernexa Therapeutics Inc. ERNA | FY2025 | N/A | -$14.1M | N/A | $3.5M | — |
| Mustang Bio, Inc. MBIO | FY2025 | N/A | -$1.9M | N/A | $3.5M | — |
| Intensity Therapeutics, Inc. INTS | FY2025 | N/A | -$11.6M | N/A | $11.2M | — |
| Bolt Biotherapeutics, Inc. BOLT | FY2025 | $7.7M | -$33.4M | N/A | $6.6M | 64/100 |
| Creative Medical Technology Holdings, Inc. CELZ | FY2025 | $6K | -$6.0M | N/A | $7.1M | — |
Where Ernexa Therapeutics Inc. Ranks
Frequently Asked Questions
Is Ernexa Therapeutics Inc. profitable?
No, Ernexa Therapeutics Inc. (ERNA) reported a net income of -$14.1M in fiscal year 2025.
What is Ernexa Therapeutics Inc.'s EBITDA?
Ernexa Therapeutics Inc. (ERNA) had EBITDA of -$9.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Ernexa Therapeutics Inc.'s return on equity (ROE)?
Ernexa Therapeutics Inc. (ERNA) has a return on equity of -586.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Ernexa Therapeutics Inc.'s free cash flow?
Ernexa Therapeutics Inc. (ERNA) recorded an outflow of $7.1M in free cash flow during fiscal year 2025. This represents a 56.5% 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 Ernexa Therapeutics Inc.'s operating cash flow?
Ernexa Therapeutics Inc. (ERNA) recorded an outflow of $7.0M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Ernexa Therapeutics Inc.'s total assets?
Ernexa Therapeutics Inc. (ERNA) had $5.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Ernexa Therapeutics Inc.'s capital expenditures?
Ernexa Therapeutics Inc. (ERNA) invested $37K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Ernexa Therapeutics Inc. spend on research and development?
Ernexa Therapeutics Inc. (ERNA) invested $4.2M in research and development during fiscal year 2025.
What is Ernexa Therapeutics Inc.'s current ratio?
Ernexa Therapeutics Inc. (ERNA) had a current ratio of 1.01 as of fiscal year 2025, which is considered adequate.
What is Ernexa Therapeutics Inc.'s debt-to-equity ratio?
Ernexa Therapeutics Inc. (ERNA) had a debt-to-equity ratio of 1.43 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Ernexa Therapeutics Inc.'s return on assets (ROA)?
Ernexa Therapeutics Inc. (ERNA) had a return on assets of -241.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Ernexa Therapeutics Inc.'s P/E ratio?
Ernexa Therapeutics Inc. (ERNA) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $3.5M as of Oct 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Ernexa Therapeutics Inc.'s price-to-sales ratio?
Ernexa Therapeutics Inc. (ERNA) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $3.5M as of Oct 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Ernexa Therapeutics Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Ernexa Therapeutics Inc. (ERNA) held $1.9M in cash, cash equivalents and investments, and reported an operating cash outflow of $7.0M over that year. Dividing the one by the other, the reported balance equals about 3 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 Ernexa Therapeutics Inc.'s Piotroski F-Score?
Ernexa Therapeutics Inc. (ERNA) has a Piotroski F-Score of 3 out of 5 computable signals; 4 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 Ernexa Therapeutics Inc.'s earnings high quality?
Ernexa Therapeutics Inc. (ERNA) reported a net loss of $14.1M while operations used $7.0M 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.
Can Ernexa Therapeutics Inc. cover its interest payments?
Ernexa Therapeutics Inc. (ERNA) reported an operating loss of $9.3M against $22K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.