Grace Therapeutics, Inc Financials

GRCE

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE March

This page shows Grace Therapeutics, Inc (GRCE) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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).

Financial Health Signals

Piotroski F-Score Weak

1/9

Grace Therapeutics, Inc 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).

Earnings Quality Low Quality

1.56x

For every $1 of reported earnings, Grace Therapeutics, Inc generates $1.56 in operating cash flow (-$14.9M OCF vs -$9.6M 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

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Revenue

N/A

EBITDA

-$16.7M

YoY-29.8%

Grace Therapeutics, Inc's EBITDA was -$16.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 29.8% from the prior year.

Free Cash Flow

N/A

Net Income

-$9.6M

YoY+25.6%

Grace Therapeutics, Inc reported -$9.6M in net income in fiscal year 2025. This represents an increase of 25.6% from the prior year.

EPS (Diluted)

$-0.79

YoY+41.5%

Grace Therapeutics, Inc earned $-0.79 per diluted share (EPS) in fiscal year 2025. This represents an increase of 41.5% from the prior year.

Cash & Debt

$22.1M

YoY-3.8%

5Y CAGR+9.2%

Grace Therapeutics, Inc held $22.1M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

14M

YoY+45.9%

Grace Therapeutics, Inc had 14M shares outstanding in fiscal year 2025. This represents an increase of 45.9% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

R&D Spending

$9.5M

YoY+103.1%

5Y CAGR-9.9%

Grace Therapeutics, Inc invested $9.5M in research and development in fiscal year 2025. This represents an increase of 103.1% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

GRCE Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	N/A	N/A	N/A	$100.0M+50920.4%	$196K	N/A
Cost of Revenue	N/A	N/A	N/A	$0-100.0%	$76K	N/A
Gross Profit	N/A	N/A	N/A	$100.0M+83233.3%	$120K	N/A
R&D Expenses	$9.5M+103.1%	$4.7M-53.0%	$10.0M+79.4%	$5.6M+33.2%	$4.2M-73.9%	$16.0M
SG&A Expenses	$7.2M+7.2%	$6.7M-12.2%	$7.6M-17.8%	$9.3M+67.8%	$5.5M-4.8%	$5.8M
Operating Income	-$16.7M-29.8%	-$12.9M+75.4%	-$52.2M-234.6%	-$15.6M+5.1%	-$16.4M+32.8%	-$24.4M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	-$3.2M-74.6%	-$1.8M+80.8%	-$9.5M-1372.5%	-$648K	$0	$0
Net Income	-$9.6M+25.6%	-$12.9M+69.7%	-$42.4M-332.1%	-$9.8M+50.1%	-$19.7M+22.9%	-$25.5M
EPS (Diluted)	$-0.79+41.5%	$-1.35+76.4%	$-5.71	$-0.27	N/A	N/A

Metric	Q3'26	Q1'24	Q3'25	Q2'25	Q1'23	Q3'24	Q1'22	Q3'21
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0
R&D Expenses	$462K	N/A	$1.4M+213.7%	$460K	N/A	$2.5M	N/A	$2.2M
SG&A Expenses	$2.0M	N/A	$1.6M-2.0%	$1.6M	N/A	$1.6M	N/A	$1.8M
Operating Income	-$2.4M	N/A	-$3.0M-45.5%	-$2.1M	N/A	-$4.2M	N/A	-$4.5M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$0	N/A	-$208K+53.4%	-$446K	N/A	-$274K	N/A	$0
Net Income	-$2.3M	N/A	-$2.4M+26.9%	-$3.3M	N/A	-$3.9M	N/A	-$3.8M
EPS (Diluted)	$-0.14	N/A	$-0.21+51.2%	$-0.43	N/A	$-0.52	N/A	$-0.09

GRCE Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$72.0M-1.8%	$73.3M-7.4%	$79.1M-38.5%	$128.6M+105.9%	$62.5M+173.3%	$22.9M
Current Assets	$22.7M-5.4%	$24.0M-18.0%	$29.3M-35.3%	$45.3M-27.4%	$62.4M+237.8%	$18.5M
Cash & Equivalents	$22.1M-3.8%	$23.0M-17.5%	$27.9M-8.1%	$30.3M-40.4%	$50.9M+257.7%	$14.2M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	$722K-10.0%	$802K+46.4%	$548K+3.4%	$530K-2.9%	$546K
Goodwill	$8.1M0.0%	$8.1M0.0%	$8.1M-37.2%	$13.0M	N/A	N/A
Total Liabilities	$5.4M-53.4%	$11.6M+3.5%	$11.2M-45.1%	$20.4M+199.4%	$6.8M-31.0%	$9.9M
Current Liabilities	$1.9M+14.6%	$1.7M-50.6%	$3.4M+4.6%	$3.3M+106.5%	$1.6M-78.6%	$7.4M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$66.6M+7.9%	$61.7M-9.1%	$68.0M-37.2%	$108.3M+94.5%	$55.7M+328.4%	$13.0M
Retained Earnings	-$220.7M-4.5%	-$211.1M-6.5%	-$198.3M-27.2%	-$155.8M-6.7%	-$146.0M-15.6%	-$126.3M

Metric	Q3'26	Q1'24	Q3'25	Q2'25	Q1'23	Q3'24	Q1'22	Q3'21
Total Assets	$68.5M-6.6%	$73.3M-3.8%	$76.2M-2.6%	$78.2M-1.2%	$79.1M-32.3%	$116.8M-9.2%	$128.6M+12.6%	$114.2M
Current Assets	$19.2M-20.0%	$24.0M-10.7%	$26.9M-6.9%	$28.9M-1.4%	$29.3M-12.4%	$33.4M-26.2%	$45.3M-7.6%	$49.0M
Cash & Equivalents	$18.7M-18.8%	$23.0M+24.0%	$18.5M-31.3%	$27.0M-3.2%	$27.9M+6.2%	$26.2M-13.5%	$30.3M-8.1%	$33.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$14K
Accounts Receivable	$398K-44.9%	$722K-24.7%	$959K+14.6%	$837K+4.4%	$802K	N/A	$548K	N/A
Goodwill	$8.1M0.0%	$8.1M0.0%	$8.1M0.0%	$8.1M0.0%	$8.1M-37.2%	$13.0M0.0%	$13.0M	N/A
Total Liabilities	$3.6M-68.9%	$11.6M+0.5%	$11.5M+0.3%	$11.5M+2.7%	$11.2M-44.4%	$20.1M-1.3%	$20.4M+543.0%	$3.2M
Current Liabilities	$1.3M-23.8%	$1.7M-4.9%	$1.8M+26.7%	$1.4M-59.0%	$3.4M-0.6%	$3.4M+5.3%	$3.3M+12.5%	$2.9M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$64.9M+5.1%	$61.7M-4.5%	$64.7M-3.1%	$66.7M-1.8%	$68.0M-29.7%	$96.7M-10.7%	$108.3M-2.5%	$111.1M
Retained Earnings	-$227.3M-7.7%	-$211.1M-1.5%	-$208.0M-1.2%	-$205.6M-3.7%	-$198.3M-17.2%	-$169.2M-8.6%	-$155.8M-2.6%	-$151.9M

GRCE Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$14.9M-20.8%	-$12.3M+22.5%	-$15.9M+7.7%	-$17.2M-20.4%	-$14.3M+37.6%	-$23.0M
Capital Expenditures	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
Investing Cash Flow	$0-100.0%	$104K-99.2%	$13.2M+473.5%	-$3.5M+64.3%	-$9.9M-221.1%	$8.1M
Financing Cash Flow	$14.0M+90.7%	$7.4M+2320.7%	$304K	$0-100.0%	$59.5M+351.3%	$13.2M
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	Q3'26	Q1'24	Q3'25	Q2'25	Q1'23	Q3'24	Q1'22	Q3'21
Operating Cash Flow	-$2.2M-6.8%	-$2.1M-10.4%	-$1.9M+10.5%	-$2.1M+36.5%	-$3.3M+10.6%	-$3.7M-18.3%	-$3.1M+31.4%	-$4.6M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$36K
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-$4.2M
Investing Cash Flow	$0-100.0%	$6.5M+199.9%	-$6.6M-6058.2%	$110K-97.8%	$5.0M+199.8%	-$5.0M-45563.6%	$11K-98.0%	$557K
Financing Cash Flow	$4.0M	$0	$0-100.0%	$7.4M	$0	$0	$0	$0
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

GRCE Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	100.0%+38.8pp	61.2%	N/A
Operating Margin	N/A	N/A	N/A	-15.6%+8361.4pp	-8377.0%	N/A
Net Margin	N/A	N/A	N/A	-9.8%+10030.0pp	-10039.8%	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-13.3%+4.2pp	-17.5%+36.1pp	-53.6%-46.0pp	-7.6%+23.9pp	-31.5%+80.1pp	-111.6%
Current Ratio	11.77-2.5	14.26+5.7	8.59-5.3	13.89-25.6	39.50+37.0	2.50
Debt-to-Equity	0.08-0.1	0.19+0.0	0.16-0.0	0.19+0.1	0.12-0.6	0.76
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'26	Q1'24	Q3'25	Q2'25	Q1'23	Q3'24	Q1'22	Q3'21
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	55.6%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-2424.7%
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-3975.3%
Return on Equity	3.6%	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-3.4%	N/A	-3.1%+1.0pp	-4.2%	N/A	-3.3%	N/A	-3.3%
Current Ratio	14.96+0.7	14.26-0.9	15.19-5.5	20.68+12.1	8.59-1.2	9.74-4.2	13.89-3.0	16.91
Debt-to-Equity	0.06-0.1	0.190.0	0.180.0	0.170.0	0.16-0.0	0.21+0.0	0.19+0.2	0.03
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

Is Grace Therapeutics, Inc profitable?

No, Grace Therapeutics, Inc (GRCE) reported a net income of -$9.6M in fiscal year 2025.

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

Grace Therapeutics, Inc (GRCE) reported diluted earnings per share of $-0.79 for fiscal year 2025. This represents a 41.5% change compared to the previous fiscal year. 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.

What is Grace Therapeutics, Inc's EBITDA?

Grace Therapeutics, Inc (GRCE) had EBITDA of -$16.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Grace Therapeutics, Inc's operating cash flow?

Grace Therapeutics, Inc (GRCE) generated -$14.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Grace Therapeutics, Inc's total assets?

Grace Therapeutics, Inc (GRCE) had $72.0M in total assets as of fiscal year 2025, including both current and long-term assets.

How much does Grace Therapeutics, Inc spend on research and development?

Grace Therapeutics, Inc (GRCE) invested $9.5M in research and development during fiscal year 2025.

How many shares does Grace Therapeutics, Inc have outstanding?

Grace Therapeutics, Inc (GRCE) had 14M shares outstanding as of fiscal year 2025.

What is Grace Therapeutics, Inc's current ratio?

Grace Therapeutics, Inc (GRCE) had a current ratio of 11.77 as of fiscal year 2025, which is generally considered healthy.

What is Grace Therapeutics, Inc's debt-to-equity ratio?

Grace Therapeutics, Inc (GRCE) had a debt-to-equity ratio of 0.08 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Grace Therapeutics, Inc's return on assets (ROA)?

Grace Therapeutics, Inc (GRCE) had a return on assets of -13.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Grace Therapeutics, Inc's cash runway?

Based on fiscal year 2025 data, Grace Therapeutics, Inc (GRCE) had $22.1M in cash against an annual operating cash burn of $14.9M. This gives an estimated cash runway of approximately 18 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 Grace Therapeutics, Inc's Piotroski F-Score?

Grace Therapeutics, Inc (GRCE) 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Grace Therapeutics, Inc's earnings high quality?

Grace Therapeutics, Inc (GRCE) has an earnings quality ratio of 1.56x, 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.