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Evommune, Inc. (EVMN) Financials

EVMN
FY2025 annual
Revenue $13.0M +85.7% YoY
Net Income -$68.9M n/m YoY
EPS (Diluted) -$11.22 YoY not available
Free Cash Flow -$76.7M n/m YoY
Market Cap $185.1M as of Oct 23, 2026
Price / Sales 14.2x on $13.0M revenue, FY2025
Price / Earnings n/m net loss, so no earnings multiple, FY2025
Price / Book 0.7x on $277.6M 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 23, 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 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the EVMN SEC filings page.

Evommune, Inc. (EVMN) reported $13.0M in revenue for fiscal year 2025, up 85.7% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 2 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 EVMN FY2025

FY2025 shows a development-stage business whose operations consumed cash while financing reshaped its balance sheet.

The key linkage is that operating cash flow was -$76.4M and investing cash flow was -$115.3M, while financing supplied $220.8M. That combination means reported expansion and investment were funded externally rather than by customer revenue, revealing a business still dependent on capital markets to finance its operating model.

Research and development dominated the economics: it reached $74M, or 569.6% of revenue. SG&A added $20M, or 154.1%, leaving the operating margin at -623.6% and showing that the cost base remains far larger than the sales base.

The balance-sheet posture changed sharply: assets rose 195.8% while liabilities fell 91.2% from FY2024 to FY2025, moving equity from negative to positive. A current ratio of 8.6x and liabilities equal to 8.6% of assets indicate that reported liquidity and solvency were materially stronger at FY2025-end, even though profitability remained deeply negative.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity CashFlow Returns 53 / 100
Financial Health Score 53/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Evommune, 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.

Profitability
22

Evommune, Inc.'s reported operating margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 22/100.

Growth
97

Evommune, Inc.'s revenue surged 85.7% year-over-year to $13.0M, reflecting rapid business expansion. This strong growth earns a score of 97/100.

Leverage
82
Liquidity
97

With a current ratio of 8.57, Evommune, Inc. holds $8.57 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 97/100.

Cash Flow
1

Evommune, Inc.'s reported free cash flow margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 1/100.

Returns
17

Evommune, Inc. posts a -33.5% return on equity (ROE), meaning it loses $34 for every $100 of shareholders' equity. This results in a returns score of 17/100.

Altman Z-Score Safe
3.95

Evommune, Inc. scores 3.95, well above the 2.99 safe threshold. The largest contribution to the score comes from a market capitalization of $185.1M against total liabilities of $19.4M. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial
2/7

Evommune, Inc. passes 2 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, the one computable operating efficiency signal (asset turnover improving) does not pass.

Earnings Quality No Cash Backing
N/A

Evommune, Inc. reported a net loss of $68.9M while operations used $76.4M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Key Financial Metrics

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Earnings & Revenue

Revenue
$0
YoYn/m
QoQn/m

Evommune, Inc. generated $0 in revenue in Q2 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.

EBITDA
-$34.7M
YoYn/m
QoQn/m

Evommune, Inc.'s EBITDA was -$34.7M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.

Net Income
-$32.2M
YoYn/m
QoQn/m

Evommune, Inc. reported a net loss of $32.2M in Q2 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.

EPS (Diluted)
-$0.89
QoQn/m

Evommune, Inc. earned -$0.89 per diluted share (EPS) in Q2 2026. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.

Cash & Balance Sheet

Free Cash Flow
-$20.5M
YoYn/m
QoQn/m

Evommune, Inc. recorded an outflow of $20.5M in free cash flow in Q2 2026, representing a cash shortfall after capex. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.

Cash & Debt
$60.0M
YoY-2.9%
QoQ+24.2%

Evommune, Inc. held $60.0M in cash as of Q2 2026; no long-term debt figure is on record for that period.

Shares Outstanding
36M
QoQ+0.8%

Evommune, Inc. had 36M shares outstanding in Q2 2026. Against the prior quarter it is up 0.8%.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Return on Equity
-11.6%
QoQ-4.5pp

Evommune, Inc.'s quarterly ROE was -11.6% in Q2 2026: one quarter's net income over shareholder equity, not annualized. Against the prior quarter it is down 4.5 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
$26.4M
YoY+34.5%
QoQ+52.5%

Evommune, Inc. invested $26.4M in research and development in Q2 2026. This represents an increase of 34.5% from the same quarter a year earlier. Against the prior quarter it is up 52.5%.

Capital Expenditures
$183K
YoYn/m
QoQ+120.5%

Evommune, Inc. invested $183K in capex in Q2 2026, funding long-term assets and infrastructure. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. Against the prior quarter it is up 120.5%.

Share Buybacks

Not reported for Q2 2026.

EVMN 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.

EVMN quarterly income statement
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Revenue$0n/m$0-100.0%N/A$10.0M$0$3.0MN/AN/A
R&D Expenses$26.4M+34.5%$17.3M+20.6%N/A$19.6M+47.8%$19.6M$14.4MN/A$13.3M
SG&A Expenses$8.5M+152.8%$6.6M+80.8%N/A$3.7M+14.3%$3.4M$3.7MN/A$3.2M
Operating Income-$34.9Mn/m-$24.0Mn/mN/A-$13.3Mn/m-$23.0M-$15.0MN/A-$16.5M
EBITDA-$34.7Mn/m-$23.9Mn/mN/AN/A-$22.8M-$14.8MN/AN/A
Income TaxN/A$0n/mN/A$0n/mN/A$0N/A$0
Net Income-$32.2Mn/m-$21.7Mn/mN/A-$12.5Mn/m-$13.6M-$14.6MN/A-$15.9M
EPS (Basic)-$0.89-$0.64N/A-$8.07n/m-$8.80-$9.48-$14.60-$10.47
EPS (Diluted)-$0.89-$0.64N/A-$8.07n/m-$8.80-$9.48-$14.60-$10.47
Diluted Shares (Avg)36M34MN/A2M+1.6%2M2MN/A2M

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

EVMN 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.

EVMN quarterly balance sheet
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Total Assets$301.9M$322.5M$224.9M+195.8%$84.5MN/AN/A$76.1MN/A
Current Assets$204.2M$215.9M$153.5M+107.4%$81.9MN/AN/A$74.0MN/A
Cash & Equivalents$60.0M-2.9%$48.3M+747.1%$44.1M+171.1%$26.8M+47.8%$61.8M$5.7M$16.3M$18.1M
Short-Term Investments$140.8Mn/m$163.1Mn/m$105.1M+88.5%$49.2Mn/m$0$0$55.8M$0
Long-Term Investments$87.2Mn/m$95.5Mn/m$67.5Mn/m$0n/m$0$0$0$0
Total Liabilities$24.4M$17.9M$19.4M-91.2%$267.7MN/AN/A$220.3MN/A
Current Liabilities$17.5M$10.6M$17.9M-36.0%$10.4MN/AN/A$28.0MN/A
Non-Current Liabilities$6.9M$7.3M$1.5M-99.2%$257.3MN/AN/A$192.3MN/A
Total Equity$277.6Mn/m$304.6Mn/m$205.6Mn/m-$183.1Mn/m-$171.2M-$158.2M-$144.2M-$122.5M
Retained Earnings-$275.0M-$242.8M-$221.1Mn/m-$192.8MN/AN/A-$152.2MN/A

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

EVMN 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.

EVMN quarterly cash flow statement
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Operating Cash Flow-$20.3Mn/m-$27.5Mn/m-$16.7Mn/m-$9.6M-$26.2M-$23.9M-$18.5MN/A
Depreciation & Amortization$200K0.0%$100K-50.0%N/AN/A$200K$200KN/AN/A
Stock-Based Compensation$4.6M+725.5%$3.5M+534.9%N/A$561K+39.9%$557K$544KN/A$401K
Capital Expenditures$183Kn/m$83Kn/m$104Kn/m$131K$0$0$0N/A
Free Cash Flow-$20.5Mn/m-$27.6Mn/m-$16.8Mn/m-$9.8M-$26.2M-$23.9M-$18.5MN/A
Investing Cash Flow$31.3M+73.9%-$85.4M-732.3%-$122.9Mn/m-$23.9M$18.0M$13.5M-$33.1MN/A
Financing Cash Flow$532K-99.2%$117.1Mn/m$156.8M+215.6%-$274K$64.3M-$152K$49.7MN/A

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

EVMN 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.

EVMN quarterly financial ratios
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Operating MarginN/AN/AN/A-133.3%N/A-501.1%N/AN/A
Net MarginN/AN/AN/A-124.8%N/A-485.2%N/AN/A
Return on Equity-11.6%-7.1%N/AN/AN/AN/AN/AN/A
Return on Assets-10.7%-6.7%N/A-14.8%N/AN/AN/AN/A
Current Ratio11.6820.368.57+5.9x7.87N/AN/A2.64N/A
Liabilities-to-Equity0.090.060.09N/AN/AN/AN/AN/A
Asset Turnover0.000.00N/A0.12N/AN/AN/AN/A
FCF MarginN/AN/AN/A-97.7%N/A-796.6%N/AN/A

Not reported in any period shown, so not listed: Gross Margin, Debt-to-Equity.

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.

Frequently Asked Questions

What is Evommune, Inc.'s annual revenue?

Evommune, Inc. (EVMN) reported $13.0M in total revenue for fiscal year 2025. This represents a 85.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Evommune, Inc.'s revenue growing?

Evommune, Inc. (EVMN) revenue grew by 85.7% year-over-year, from $7.0M to $13.0M in fiscal year 2025.

Is Evommune, Inc. profitable?

No, Evommune, Inc. (EVMN) reported a net loss of $68.9M in fiscal year 2025.

Evommune, Inc. (EVMN) reported diluted earnings per share of -$11.22 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.

Evommune, Inc. (EVMN) had EBITDA of -$80.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

Evommune, Inc. (EVMN) has a return on equity of -33.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Evommune, Inc. (EVMN) recorded an outflow of $76.7M in free cash flow during fiscal year 2025. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. 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.

Evommune, Inc. (EVMN) recorded an outflow of $76.4M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

Evommune, Inc. (EVMN) had $224.9M in total assets as of fiscal year 2025, including both current and long-term assets.

Evommune, Inc. (EVMN) invested $235K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Evommune, Inc. (EVMN) invested $74.0M in research and development during fiscal year 2025.

Evommune, Inc. (EVMN) had 36M shares outstanding as of fiscal year 2025.

Evommune, Inc. (EVMN) had a current ratio of 8.57 as of fiscal year 2025, which is generally considered healthy.

Evommune, Inc. (EVMN) had a liabilities-to-equity ratio of 0.09 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity. No debt-to-equity ratio is shown for fiscal year 2025, because the filing data we hold for that year carries no long-term debt figure.

Evommune, Inc. (EVMN) had a return on assets of -30.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Evommune, Inc. (EVMN) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $185.1M as of Oct 23, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Evommune, Inc. (EVMN) trades at 14.2x sales, its market capitalization divided by $13.0M revenue, FY2025. The market capitalization is $185.1M as of Oct 23, 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, Evommune, Inc. (EVMN) held $216.7M in cash, cash equivalents and investments, and reported an operating cash outflow of $76.4M over that year. Dividing the one by the other, the reported balance equals about 34 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.

Evommune, Inc. (EVMN) has an Altman Z-Score of 3.95, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Evommune, Inc. (EVMN) has a Piotroski F-Score of 2 out of 7 computable signals; 2 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.

Evommune, Inc. (EVMN) reported a net loss of $68.9M while operations used $76.4M 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.

Evommune, Inc. (EVMN) scores 53 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.

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