What is Ernexa Therapeutics Inc's earnings per share (EPS)?

Ernexa Therapeutics Inc (ERNAW) reported diluted earnings per share of $-2.24 for fiscal year 2025. 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.

Ernexa Therapeutics Inc Financials

ERNAW

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Ernexa Therapeutics Inc (ERNAW) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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 ERNAW FY2025 2026-04-22

ERNAW’s dominant mechanic is shrinking operating burn financed by repeated capital raises, not yet by a self-sustaining revenue base.

From FY2023 to FY2025, operating cash burn improved from $20.4M to $7.0M, showing the cost base was cut materially faster than the business was commercialized. But year-end cash was still only $1.9M after $7.2M of FY2025 financing inflow, so the steadier balance sheet came mainly from outside funding replacing consumed cash.

The business still looks development-stage in economic terms: in FY2024, R&D spend of $4.6M was far above reported revenue of $582K. That means the narrower operating loss reflects a much smaller expense base, not a revenue engine that has begun to carry the organization.

This is an asset-light burn model: FY2025 capex was just $37K against $7.1M of free cash outflow, so cash needs came from running the organization rather than building hard assets. Liquidity also only just covered near-term obligations, with a current ratio of 1.0x, which fits a company being stabilized financially but not yet funding itself internally.

Financial Health Signals

Financial Profile 15/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Ernexa Therapeutics Inc'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.

Leverage

Ernexa Therapeutics Inc carries a low D/E ratio of 1.43, meaning only $1.43 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 73/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Ernexa Therapeutics Inc's current ratio of 1.01 is below the typical benchmark, resulting in a score of 15/100. However, the company holds substantial cash reserves (61% of current liabilities), which buffers actual liquidity risk. Large mature operators often run tight current ratios by design.

Returns

Ernexa Therapeutics Inc generates a -586.6% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100.

Piotroski F-Score Weak

3/9

Ernexa Therapeutics Inc passes 3 of 9 financial strength tests. 1 of 3 profitability signals pass, 2 of 3 leverage/liquidity signals pass.

Earnings Quality Low Quality

0.50x

For every $1 of reported earnings, Ernexa Therapeutics Inc generates $0.50 in operating cash flow (-$7.0M OCF vs -$14.1M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-423.6x

Ernexa Therapeutics Inc earns $-423.6 in operating income for every $1 of interest expense (-$9.3M vs $22K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

N/A

EBITDA

-$9.3M

YoY+40.4%

Ernexa Therapeutics Inc's EBITDA was -$9.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 40.4% from the prior year.

Net Income

-$14.1M

Ernexa Therapeutics Inc reported -$14.1M in net income in fiscal year 2025.

EPS (Diluted)

$-2.24

Ernexa Therapeutics Inc earned $-2.24 per diluted share (EPS) in fiscal year 2025. This represents an increase of 95.4% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$7.1M

YoY+56.5%

Ernexa Therapeutics Inc generated -$7.1M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 56.5% from the prior year.

Cash & Debt

$1.9M

YoY+9.0%

5Y CAGR+19.4%

10Y CAGR-5.2%

Ernexa Therapeutics Inc held $1.9M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

314,000

Ernexa Therapeutics Inc had 314,000 shares outstanding in fiscal year 2025. This represents a decrease of 90.8% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-586.6%

5Y CAGR-491.4pp

10Y CAGR-398.8pp

Ernexa Therapeutics Inc's ROE was -586.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.

Capital Allocation

R&D Spending

$4.2M

YoY-9.7%

5Y CAGR+360.8%

Ernexa Therapeutics Inc invested $4.2M in research and development in fiscal year 2025. This represents a decrease of 9.7% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$37K

YoY-90.0%

5Y CAGR-1.0%

10Y CAGR-28.0%

Ernexa Therapeutics Inc invested $37K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 90.0% from the prior year.

ERNAW Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	N/A	$582K+755.9%	$68K	$0	N/A	$5.8M
Cost of Revenue	N/A	$96K-59.3%	$236K	$0	N/A	N/A
Gross Profit	N/A	$486K+389.3%	-$168K	$0	N/A	N/A
R&D Expenses	$4.2M-9.7%	$4.6M-22.2%	$5.9M-43.0%	$10.4M-18.2%	$12.7M+635150.0%	$2K
SG&A Expenses	$5.2M-60.7%	$13.1M-10.0%	$14.6M-13.4%	$16.8M+14.3%	$14.7M+82.0%	$8.1M
Operating Income	-$9.3M+40.5%	-$15.7M+25.8%	-$21.1M+36.4%	-$33.2M+70.8%	-$113.7M-1469.2%	-$7.2M
Interest Expense	$22K-87.4%	$174K-71.7%	$614K+1946.7%	$30K	N/A	$118K
Income Tax	-$45K-250.0%	$30K+1100.0%	-$3K-106.7%	$45K-29.7%	$64K	$0
Net Income	-$14.1M	N/A	-$21.7M+11.8%	-$24.6M+79.9%	-$122.5M-1580.8%	-$7.3M
EPS (Diluted)	$-2.24	$-48.96-1100.0%	$-4.08+49.4%	$-8.06+85.8%	$-56.61-13707.3%	$-0.41

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	N/A	N/A	N/A	N/A	N/A	$1K-99.8%	$487K+936.2%	$47K
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	$0+100.0%	-$60K-163.2%	$95K
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-$48K
R&D Expenses	$1.9M	N/A	$1.0M-8.9%	$1.1M-13.2%	$1.3M+13.0%	$1.2M+15.7%	$1.0M+1.4%	$987K
SG&A Expenses	$1.6M	N/A	$958K-29.8%	$1.4M-3.9%	$1.4M-7.7%	$1.5M-54.5%	$3.4M-13.2%	$3.9M
Operating Income	-$5.6M	N/A	-$2.0M+20.3%	-$2.5M+8.4%	-$2.7M-1.2%	-$2.7M-19.4%	-$2.3M+54.2%	-$4.9M
Interest Expense	N/A	N/A	N/A	N/A	$6K+100.2%	-$2.7M-260.8%	$1.7M+112.5%	$800K
Income Tax	-$40K	N/A	$6K+100.0%	$3K-62.5%	$8K-27.3%	$11K-8.3%	$12K+300.0%	$3K
Net Income	-$5.5M	N/A	-$1.2M+60.5%	-$3.1M+61.7%	-$8.2M	N/A	-$26.6M-381.2%	-$5.5M
EPS (Diluted)	$-6.95	N/A	$-0.15+75.4%	$-0.61	$-57.76	N/A	$-73.70-380.4%	$-15.34

ERNAW Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$5.8M+10.7%	$5.3M-89.3%	$49.1M+120.5%	$22.3M-29.3%	$31.5M+144.3%	$12.9M
Current Assets	$3.1M+33.2%	$2.4M-75.5%	$9.6M-29.8%	$13.7M-27.1%	$18.8M+983.5%	$1.7M
Cash & Equivalents	$1.9M+9.0%	$1.7M-77.2%	$7.6M-33.8%	$11.4M-32.6%	$17.0M+2086.0%	$777K
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	$684K	$0
Goodwill	$2.0M0.0%	$2.0M0.0%	$2.0M0.0%	$2.0M0.0%	$2.0M0.0%	$2.0M
Total Liabilities	$3.4M-3.8%	$3.6M-92.4%	$46.9M+361.1%	$10.2M+68.9%	$6.0M+14.8%	$5.2M
Current Liabilities	$3.1M+6.0%	$2.9M-55.3%	$6.6M-14.1%	$7.7M+108.2%	$3.7M+17.7%	$3.1M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	$532K
Total Equity	$2.4M+41.2%	$1.7M-23.8%	$2.2M-81.6%	$12.1M-52.5%	$25.5M+233.0%	$7.7M
Retained Earnings	-$245.6M-6.1%	-$231.5M-23.8%	-$187.0M-13.1%	-$165.3M-17.5%	-$140.7M-675.6%	-$18.1M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$10.5M+80.7%	$5.8M-5.5%	$6.2M-18.6%	$7.6M+49.9%	$5.1M-4.0%	$5.3M-31.7%	$7.7M-83.4%	$46.5M
Current Assets	$10.0M+219.1%	$3.1M-7.3%	$3.4M-29.5%	$4.8M+116.7%	$2.2M-6.0%	$2.4M-50.3%	$4.7M+32.0%	$3.6M
Cash & Equivalents	$9.2M+387.1%	$1.9M-38.2%	$3.0M-29.4%	$4.3M+125.0%	$1.9M+10.9%	$1.7M-59.5%	$4.3M+64.9%	$2.6M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	$2.0M0.0%	$2.0M0.0%	$2.0M0.0%	$2.0M0.0%	$2.0M0.0%	$2.0M0.0%	$2.0M
Total Liabilities	$3.7M+7.3%	$3.4M+31.9%	$2.6M-17.1%	$3.1M-71.5%	$11.0M+208.5%	$3.6M-93.3%	$53.1M-3.5%	$55.0M
Current Liabilities	$3.5M+11.1%	$3.1M+45.2%	$2.1M-19.1%	$2.7M-74.6%	$10.4M+255.3%	$2.9M-70.5%	$10.0M+3.7%	$9.6M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$6.9M+185.7%	$2.4M-32.7%	$3.6M-19.6%	$4.4M+174.7%	-$6.0M-449.8%	$1.7M+103.7%	-$45.4M-432.4%	-$8.5M
Retained Earnings	-$251.1M-2.2%	-$245.6M-0.6%	-$244.1M-0.5%	-$242.9M-1.3%	-$239.7M-3.5%	-$231.5M-2.6%	-$225.8M-13.4%	-$199.2M

ERNAW Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$7.0M+55.7%	-$15.8M+22.4%	-$20.4M+2.7%	-$21.0M+10.7%	-$23.5M-189.9%	-$8.1M
Capital Expenditures	$37K-90.0%	$369K+1842.1%	$19K-93.6%	$297K+92.9%	$154K+294.9%	$39K
Free Cash Flow	-$7.1M+56.5%	-$16.2M+20.7%	-$20.4M+4.0%	-$21.3M+10.0%	-$23.6M-190.4%	-$8.1M
Investing Cash Flow	-$37K+89.9%	-$365K-1821.1%	-$19K+59.6%	-$47K+99.8%	-$22.7M-58212.8%	-$39K
Financing Cash Flow	$7.2M+15.2%	$6.3M-62.2%	$16.6M-15.4%	$19.6M-68.2%	$61.6M+1219.0%	$4.7M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$2.3M-97.2%	-$1.1M+9.7%	-$1.3M+49.8%	-$2.5M-22.6%	-$2.1M+41.7%	-$3.5M+43.6%	-$6.3M-178.2%	-$2.3M
Capital Expenditures	$2K-86.7%	$15K	N/A	N/A	N/A	$0-100.0%	$19K-92.4%	$249K
Free Cash Flow	-$2.3M-94.8%	-$1.2M	N/A	N/A	N/A	-$3.5M+43.8%	-$6.3M-151.4%	-$2.5M
Investing Cash Flow	-$2K+86.7%	-$15K	N/A	N/A	N/A	$0+100.0%	-$19K+92.4%	-$249K
Financing Cash Flow	$9.6M	$0-100.0%	$26K-99.5%	$4.9M+118.7%	$2.3M+123.2%	$1.0M-74.0%	$3.9M+17768.2%	-$22K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

ERNAW Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	83.5%+330.6pp	-247.1%	N/A	N/A	N/A
Operating Margin	N/A	-2693.1%+28387.8pp	-31080.9%	N/A	N/A	-125.0%
Net Margin	N/A	N/A	-31864.7%	N/A	N/A	-125.7%
Return on Equity	-586.6%	N/A	-970.4%-767.3pp	-203.0%+277.5pp	-480.5%-385.3pp	-95.2%
Return on Assets	-241.4%	N/A	-44.1%+66.2pp	-110.3%+278.4pp	-388.7%-332.2pp	-56.5%
Current Ratio	1.01+0.2	0.80-0.7	1.46-0.3	1.79-3.3	5.10+4.5	0.55
Debt-to-Equity	1.43-0.7	2.10-18.9	21.00+20.2	0.84+0.6	0.24+0.2	0.07
FCF Margin	N/A	-2784.4%+27255.4pp	-30039.7%	N/A	N/A	-140.3%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-102.1%
Operating Margin	N/A	N/A	N/A	N/A	N/A	-269700.0%-269236.1pp	-463.9%+10027.6pp	-10491.5%
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	-5462.8%+6301.0pp	-11763.8%
Return on Equity	-80.3%	N/A	-34.7%+35.9pp	-70.7%	N/A	N/A	N/A	N/A
Return on Assets	-52.2%	N/A	-20.1%+21.3pp	-41.4%+120.7pp	-162.1%	N/A	-344.7%-332.8pp	-11.9%
Current Ratio	2.89+1.9	1.01-0.6	1.58-0.2	1.81+1.6	0.21-0.6	0.80+0.3	0.48+0.1	0.37
Debt-to-Equity	0.54-0.9	1.43+0.7	0.73+0.0	0.71+2.6	-1.85-3.9	2.10+3.3	-1.17+5.3	-6.45
FCF Margin	N/A	N/A	N/A	N/A	N/A	-354500.0%-353205.5pp	-1294.5%+4041.7pp	-5336.2%

Frequently Asked Questions

Is Ernexa Therapeutics Inc profitable?

No, Ernexa Therapeutics Inc (ERNAW) reported a net income of -$14.1M in fiscal year 2025.

What is Ernexa Therapeutics Inc's EBITDA?

Ernexa Therapeutics Inc (ERNAW) 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 (ERNAW) 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 (ERNAW) generated -$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 (ERNAW) generated -$7.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Ernexa Therapeutics Inc's total assets?

Ernexa Therapeutics Inc (ERNAW) 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 (ERNAW) 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 (ERNAW) invested $4.2M in research and development during fiscal year 2025.

How many shares does Ernexa Therapeutics Inc have outstanding?

Ernexa Therapeutics Inc (ERNAW) had 314,000 shares outstanding as of fiscal year 2025.

What is Ernexa Therapeutics Inc's current ratio?

Ernexa Therapeutics Inc (ERNAW) 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 (ERNAW) 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 (ERNAW) 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 cash runway?

Based on fiscal year 2025 data, Ernexa Therapeutics Inc (ERNAW) had $1.9M in cash against an annual operating cash burn of $7.0M. This gives an estimated cash runway of approximately 3 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 Ernexa Therapeutics Inc's Piotroski F-Score?

Ernexa Therapeutics Inc (ERNAW) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. 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 (ERNAW) has an earnings quality ratio of 0.50x, considered low quality (accrual-driven). 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 (ERNAW) has an interest coverage ratio of -423.6x, meaning it can struggle to cover its interest obligations. 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.

How financially healthy is Ernexa Therapeutics Inc?

Ernexa Therapeutics Inc (ERNAW) scores 15 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.