GRI Bio Financials

GRI

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

Financial Health Signals

Piotroski F-Score Weak

2/9

GRI Bio passes 2 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality Low Quality

0.85x

For every $1 of reported earnings, GRI Bio generates $0.85 in operating cash flow (-$10.2M OCF vs -$12.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

This page shows GRI Bio (GRI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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).

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Key Financial Metrics

Revenue

N/A

EBITDA

-$12.0M

YoY-45.5%

GRI Bio's EBITDA was -$12.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 45.5% from the prior year.

Free Cash Flow

-$10.2M

YoY-18.3%

GRI Bio generated -$10.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 18.3% from the prior year.

Net Income

-$12.0M

YoY-45.7%

GRI Bio reported -$12.0M in net income in fiscal year 2025. This represents a decrease of 45.7% from the prior year.

EPS (Diluted)

$-121.80

GRI Bio earned $-121.80 per diluted share (EPS) in fiscal year 2025. This represents an increase of 92.1% from the prior year.

Cash & Debt

$8.2M

YoY+63.7%

5Y CAGR+137.5%

GRI Bio held $8.2M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

GRI Bio had 1M shares outstanding in fiscal year 2025. This represents an increase of 7599.4% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

R&D Spending

$6.8M

YoY+81.0%

5Y CAGR+13.0%

GRI Bio invested $6.8M in research and development in fiscal year 2025. This represents an increase of 81.0% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$3K

5Y CAGR+8.4%

GRI Bio invested $3K in capex in fiscal year 2025, funding long-term assets and infrastructure.

GRI Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	N/A	N/A	N/A	N/A	$0-100.0%	$100K
Cost of Revenue	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
R&D Expenses	$6.8M+81.0%	$3.8M+16.6%	$3.2M+1235.5%	$242K-95.3%	$5.2M+39.9%	$3.7M
SG&A Expenses	$5.2M+15.5%	$4.5M-45.2%	$8.2M+308.4%	$2.0M-51.0%	$4.1M+244.8%	$1.2M
Operating Income	-$12.0M-45.4%	-$8.2M+27.7%	-$11.4M-408.6%	-$2.2M+75.8%	-$9.3M-93.4%	-$4.8M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$3K+50.0%	$2K	N/A	N/A	N/A	N/A
Net Income	-$12.0M-45.7%	-$8.2M+37.0%	-$13.0M-305.3%	-$3.2M+65.4%	-$9.3M-92.9%	-$4.8M
EPS (Diluted)	$-121.80	$-1545.55	$-5018.09	$-24.95	$-1.42-32.7%	$-1.07

Metric	Q4'25	Q3'25	Q4'24	Q3'24	Q4'23	Q3'23	Q4'22	Q3'22
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	N/A	$1.8M	N/A	$1.1M	N/A	$1.2M	N/A	$63K
SG&A Expenses	N/A	$1.6M	N/A	$1.0M	N/A	$1.3M	N/A	$123K
Operating Income	N/A	-$3.4M	N/A	-$2.1M	N/A	-$2.4M	N/A	-$186K
Interest Expense	N/A	N/A	N/A	N/A	N/A	$16K	N/A	$2K
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	-$3.4M	N/A	-$2.1M	N/A	-$2.1M	N/A	-$351K
EPS (Diluted)	N/A	$-1.28	N/A	$-11.42	N/A	$-65.78	N/A	$-0.39

GRI Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$8.7M+51.0%	$5.7M+94.1%	$3.0M+671.8%	$383K-95.4%	$8.3M+772.8%	$955K
Current Assets	$8.6M+53.0%	$5.6M+91.4%	$2.9M+840.4%	$312K-96.2%	$8.1M+1106.1%	$674K
Cash & Equivalents	$8.2M+63.7%	$5.0M+178.1%	$1.8M+19988.9%	$9K-99.8%	$3.7M+3296.3%	$109K
Inventory	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
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$2.7M+55.7%	$1.7M-36.7%	$2.7M+34.3%	$2.0M-84.8%	$13.2M+447.2%	$2.4M
Current Liabilities	$2.6M+61.6%	$1.6M-39.3%	$2.7M+35.3%	$2.0M-18.4%	$2.4M+9.9%	$2.2M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$6.0M+49.0%	$4.0M+1456.8%	$259K+115.9%	-$1.6M+66.5%	-$4.8M-233.4%	-$1.5M
Retained Earnings	-$51.7M-30.1%	-$39.7M-26.0%	-$31.5M-70.5%	-$18.5M+15.6%	-$21.9M-73.8%	-$12.6M

Metric	Q4'25	Q3'25	Q4'24	Q3'24	Q4'23	Q3'23	Q4'22	Q3'22
Total Assets	$8.7M+81.2%	$4.8M-16.7%	$5.7M+5.1%	$5.5M+84.7%	$3.0M-32.9%	$4.4M+1049.9%	$383K-93.1%	$5.6M
Current Assets	$8.6M+82.9%	$4.7M-16.3%	$5.6M+5.5%	$5.3M+81.4%	$2.9M-32.8%	$4.4M+1299.7%	$312K-94.4%	$5.6M
Cash & Equivalents	$8.2M+102.9%	$4.1M-19.4%	$5.0M+5.9%	$4.7M+162.5%	$1.8M-48.2%	$3.5M+38655.6%	$9K-99.8%	$4.7M
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	$2.7M-4.7%	$2.8M+63.4%	$1.7M-5.1%	$1.8M-33.3%	$2.7M+23.9%	$2.2M+8.4%	$2.0M-82.2%	$11.3M
Current Liabilities	$2.6M-4.2%	$2.8M+68.6%	$1.6M-4.6%	$1.7M-36.4%	$2.7M+23.9%	$2.2M+9.2%	$2.0M-5.5%	$2.1M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$6.0M+201.5%	$2.0M-50.6%	$4.0M+10.2%	$3.7M+1313.1%	$259K-88.4%	$2.2M+237.0%	-$1.6M+71.5%	-$5.7M
Retained Earnings	-$51.7M-5.4%	-$49.0M-23.4%	-$39.7M-5.2%	-$37.8M-19.9%	-$31.5M-6.8%	-$29.5M-59.7%	-$18.5M+32.4%	-$27.3M

GRI Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$10.2M-18.3%	-$8.6M+4.2%	-$9.0M-728.6%	-$1.1M+86.9%	-$8.3M-124.3%	-$3.7M
Capital Expenditures	$3K	$0-100.0%	$8K+166.7%	$3K	$0-100.0%	$2K
Free Cash Flow	-$10.2M-18.3%	-$8.6M+4.3%	-$9.0M-727.0%	-$1.1M+86.9%	-$8.3M-124.2%	-$3.7M
Investing Cash Flow	-$3K	$0+100.0%	-$8K-166.7%	-$3K+99.9%	-$3.8M-192000.0%	-$2K
Financing Cash Flow	$13.4M+13.2%	$11.8M+9.6%	$10.8M+972.2%	$1.0M-93.6%	$15.7M+393775.0%	-$4K
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	Q4'25	Q3'25	Q4'24	Q3'24	Q4'23	Q3'23	Q4'22	Q3'22
Operating Cash Flow	-$3.0M-28.4%	-$2.3M-15.7%	-$2.0M+11.9%	-$2.3M+59.2%	-$5.6M-324.1%	-$1.3M-55.3%	-$844K-575.2%	-$125K
Capital Expenditures	N/A	N/A	$0	$0	$0	$0-100.0%	$3K	$0
Free Cash Flow	N/A	N/A	-$2.0M+11.9%	-$2.3M+59.2%	-$5.6M-324.1%	-$1.3M-54.8%	-$847K-577.6%	-$125K
Investing Cash Flow	N/A	N/A	$0	$0	$0	$0+100.0%	-$3K	$0
Financing Cash Flow	$7.1M+473.7%	$1.2M-45.4%	$2.3M+245.1%	$661K-83.0%	$3.9M	$0-100.0%	$752K+241.8%	$220K
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

GRI Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	-4788.0%
Net Margin	N/A	N/A	N/A	N/A	N/A	-4822.0%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-138.0%+5.0pp	-143.0%+298.0pp	-441.0%+398.9pp	-839.9%-728.3pp	-111.6%+393.3pp	-504.9%
Current Ratio	3.25-0.2	3.43+2.3	1.09+0.9	0.16-3.2	3.32+3.0	0.30
Debt-to-Equity	0.44+0.0	0.42-10.0	10.41+11.6	-1.24+1.5	-2.72-1.1	-1.66
FCF Margin	N/A	N/A	N/A	N/A	N/A	-3708.0%

Metric	Q4'25	Q3'25	Q4'24	Q3'24	Q4'23	Q3'23	Q4'22	Q3'22
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	N/A	N/A
Return on Assets	N/A	-70.2%	N/A	-38.9%	N/A	-48.5%	N/A	-6.3%
Current Ratio	3.25+1.5	1.70-1.7	3.43+0.3	3.10+2.0	1.09-0.9	2.01+1.8	0.16-2.5	2.64
Debt-to-Equity	0.44-1.0	1.40+1.0	0.42-0.1	0.49-9.9	10.41+9.4	0.98+2.2	-1.24+0.7	-1.98
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 GRI Bio profitable?

No, GRI Bio (GRI) reported a net income of -$12.0M in fiscal year 2025.

What is GRI Bio's earnings per share (EPS)?

GRI Bio (GRI) reported diluted earnings per share of $-121.80 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.

What is GRI Bio's EBITDA?

GRI Bio (GRI) had EBITDA of -$12.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is GRI Bio's free cash flow?

GRI Bio (GRI) generated -$10.2M in free cash flow during fiscal year 2025. This represents a -18.3% 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 GRI Bio's operating cash flow?

GRI Bio (GRI) generated -$10.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are GRI Bio's total assets?

GRI Bio (GRI) had $8.7M in total assets as of fiscal year 2025, including both current and long-term assets.

What are GRI Bio's capital expenditures?

GRI Bio (GRI) invested $3K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does GRI Bio spend on research and development?

GRI Bio (GRI) invested $6.8M in research and development during fiscal year 2025.

How many shares does GRI Bio have outstanding?

GRI Bio (GRI) had 1M shares outstanding as of fiscal year 2025.

What is GRI Bio's current ratio?

GRI Bio (GRI) had a current ratio of 3.25 as of fiscal year 2025, which is generally considered healthy.

What is GRI Bio's debt-to-equity ratio?

GRI Bio (GRI) had a debt-to-equity ratio of 0.44 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is GRI Bio's return on assets (ROA)?

GRI Bio (GRI) had a return on assets of -138.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is GRI Bio's cash runway?

Based on fiscal year 2025 data, GRI Bio (GRI) had $8.2M in cash against an annual operating cash burn of $10.2M. This gives an estimated cash runway of approximately 10 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 GRI Bio's Piotroski F-Score?

GRI Bio (GRI) has a Piotroski F-Score of 2 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 GRI Bio's earnings high quality?

GRI Bio (GRI) has an earnings quality ratio of 0.85x, 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.