Estrella Immunopharma Financials
This page shows Estrella Immunopharma (ESLA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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).
Research spending drives Estrella’s economics, while cash survival depends more on financing and balance-sheet resets than reported losses.
The clearest hidden pattern is a break between accounting loss and cash use: FY2024 showed a net loss of-$7.3M but an operating cash outflow of-$16.1M . FY2025 reversed that, with a larger-$13.1M net loss yet only-$1.8M of operating cash burn, so headline earnings alone do not explain near-term liquidity pressure.
FY2025 costs were still research-led: R&D spending of
The balance sheet shows a financing reset that faded quickly: FY2024 brought
Financial Health Signals
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 Estrella Immunopharma'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.
Estrella Immunopharma carries a low D/E ratio of -1.31, meaning only $-1.31 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
Estrella Immunopharma's current ratio of 0.12 is below the typical benchmark, resulting in a score of 0/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Estrella Immunopharma passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
For every $1 of reported earnings, Estrella Immunopharma generates $0.14 in operating cash flow (-$1.8M OCF vs -$13.1M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Estrella Immunopharma reported -$13.1M in net income in fiscal year 2025. This represents a decrease of 78.7% from the prior year.
Estrella Immunopharma earned $-0.35 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 29.6% from the prior year.
Cash & Balance Sheet
Estrella Immunopharma held $1.4M in cash against $0 in long-term debt as of fiscal year 2025.
Margins & Returns
Capital Allocation
Estrella Immunopharma invested $10.2M in research and development in fiscal year 2025. This represents an increase of 149.4% from the prior year.
Estrella Immunopharma spent $29K on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 91.7% from the prior year.
ESLA Income Statement
| 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 | N/A | N/A | N/A |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | $1.4M | N/A | $4.2M-10.9% | $4.7M+230.5% | $1.4M | N/A | $2.8M-19.8% | $3.5M |
| SG&A Expenses | $892K | N/A | $649K-26.6% | $884K+27.3% | $694K | N/A | $551K+29.8% | $424K |
| Operating Income | -$2.3M | N/A | -$4.8M+13.4% | -$5.5M-163.5% | -$2.1M | N/A | -$3.4M+14.5% | -$3.9M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A | $850+6438.5% | $13 | N/A | N/A | $2K |
| Net Income | -$2.3M | N/A | -$4.8M+13.4% | -$5.5M-163.5% | -$2.1M | N/A | -$3.4M+14.5% | -$4.0M |
| EPS (Diluted) | $-0.05 | N/A | $-0.13+13.3% | $-0.15-150.0% | $-0.06 | N/A | $-0.09+18.2% | $-0.11 |
ESLA Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.7M+15.1% | $3.2M-9.8% | $3.5M+18.2% | $3.0M+21.9% | $2.4M-22.2% | $3.1M-15.9% | $3.7M-16.1% | $4.5M |
| Current Assets | $2.2M+28.6% | $1.7M-17.1% | $2.0M+36.7% | $1.5M+56.8% | $944K-42.4% | $1.6M-26.6% | $2.2M-49.8% | $4.5M |
| Cash & Equivalents | $1.9M+39.2% | $1.4M-14.9% | $1.6M+23.5% | $1.3M+212.4% | $421K-54.0% | $917K-49.0% | $1.8M-56.8% | $4.2M |
| 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 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $8.9M-34.1% | $13.5M+1.4% | $13.4M+47.2% | $9.1M+112.3% | $4.3M+42.6% | $3.0M+0.3% | $3.0M+1554.0% | $181K |
| Current Liabilities | $8.9M-34.1% | $13.5M+1.4% | $13.4M+47.2% | $9.1M+112.3% | $4.3M+42.6% | $3.0M+0.3% | $3.0M+1554.0% | $181K |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$5.3M+49.2% | -$10.4M-5.4% | -$9.8M-61.4% | -$6.1M-232.9% | -$1.8M-1373.9% | $144K-80.7% | $746K-82.5% | $4.3M |
| Retained Earnings | -$39.3M-6.2% | -$37.0M-1.7% | -$36.4M-15.2% | -$31.6M-21.3% | -$26.0M-8.8% | -$23.9M-4.6% | -$22.9M-17.3% | -$19.5M |
ESLA Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$6.7M-3673.8% | -$177K+75.6% | -$727K-75.3% | -$415K+11.0% | -$466K+48.0% | -$896K+59.6% | -$2.2M-660.7% | -$292K |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $0 |
| Financing Cash Flow | $7.2M+11270.9% | -$65K-106.2% | $1.0M-20.8% | $1.3M+4546.4% | -$29K-290.3% | $15K+110.3% | -$150K+44.3% | -$270K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | $0 | $0 | $0-100.0% | $29K | N/A | $150K-44.3% | $270K |
ESLA Financial Ratios
| 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 | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | -452.5%-360.0pp | -92.5% |
| Return on Assets | -62.7% | N/A | -136.3%+49.8pp | -186.0%-100.0pp | -86.1% | N/A | -90.4%-1.7pp | -88.7% |
| Current Ratio | 0.24+0.1 | 0.12-0.0 | 0.15-0.0 | 0.16-0.1 | 0.22-0.3 | 0.55-0.2 | 0.75-23.9 | 24.65 |
| Debt-to-Equity | -1.69-0.4 | -1.31+0.1 | -1.36+0.1 | -1.49+0.8 | -2.33-23.2 | 20.85+16.8 | 4.00+4.0 | 0.04 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Note: Shareholder equity is negative (-$10.4M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.12), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
Is Estrella Immunopharma profitable?
No, Estrella Immunopharma (ESLA) reported a net income of -$13.1M in fiscal year 2025.
What is Estrella Immunopharma's operating cash flow?
Estrella Immunopharma (ESLA) generated -$1.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Estrella Immunopharma's total assets?
Estrella Immunopharma (ESLA) had $3.2M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Estrella Immunopharma spend on research and development?
Estrella Immunopharma (ESLA) invested $10.2M in research and development during fiscal year 2025.
What is Estrella Immunopharma's current ratio?
Estrella Immunopharma (ESLA) had a current ratio of 0.12 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Estrella Immunopharma's debt-to-equity ratio?
Estrella Immunopharma (ESLA) had a debt-to-equity ratio of -1.31 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Estrella Immunopharma's return on assets (ROA)?
Estrella Immunopharma (ESLA) had a return on assets of -411.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Estrella Immunopharma's cash runway?
Based on fiscal year 2025 data, Estrella Immunopharma (ESLA) had $1.4M in cash against an annual operating cash burn of $1.8M. 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.
Why is Estrella Immunopharma's debt-to-equity ratio negative or unusual?
Estrella Immunopharma (ESLA) has negative shareholder equity of -$10.4M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Estrella Immunopharma's Piotroski F-Score?
Estrella Immunopharma (ESLA) has a Piotroski F-Score of 1 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 Estrella Immunopharma's earnings high quality?
Estrella Immunopharma (ESLA) has an earnings quality ratio of 0.14x, 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.
How financially healthy is Estrella Immunopharma?
Estrella Immunopharma (ESLA) scores 17 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.