GRI Bio Financials
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).
Fresh capital raises rather than operations are carrying this research-stage business, where cash burn tracks spending almost directly.
From FY2023 to FY2025, financing inflows repeatedly exceeded free-cash outflows, which is why cash climbed to$8.229M by FY2025 even though the business still did not fund itself internally. That outside funding also rebuilt shareholders’ equity to$6.008M while liabilities were only$2.658M , making the balance sheet far less thinly capitalized than it was two years earlier.
FY2025 net loss of
R&D spending rose to
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 GRI Bio'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.
GRI Bio carries a low D/E ratio of 0.44, meaning only $0.44 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 93/100, indicating a strong balance sheet with room for future borrowing.
GRI Bio's current ratio of 3.25 indicates adequate short-term liquidity, earning a score of 63/100. The company can meet its near-term obligations, though with limited headroom.
GRI Bio generates a -199.0% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -203.5% the prior year.
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).
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.
Key Financial Metrics
Earnings & Revenue
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.
GRI Bio reported -$12.0M in net income in fiscal year 2025. This represents a decrease of 45.7% from the prior year.
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 & Balance Sheet
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.
GRI Bio held $8.2M in cash against $0 in long-term debt as of fiscal year 2025.
GRI Bio had 1M shares outstanding in fiscal year 2025. This represents an increase of 7599.4% from the prior year.
Margins & Returns
GRI Bio's ROE was -199.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 4.5 percentage points from the prior year.
Capital Allocation
GRI Bio invested $6.8M in research and development in fiscal year 2025. This represents an increase of 81.0% from the prior year.
GRI Bio invested $3K in capex in fiscal year 2025, funding long-term assets and infrastructure.
GRI 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 | $361K | N/A | $1.8M-5.9% | $1.9M+14.6% | $1.6M | N/A | $1.1M+28.3% | $877K |
| SG&A Expenses | $1.6M | N/A | $1.6M+56.8% | $1.0M-27.9% | $1.4M | N/A | $1.0M-27.2% | $1.4M |
| Operating Income | -$2.0M | N/A | -$3.4M-16.2% | -$2.9M+5.0% | -$3.1M | N/A | -$2.1M+5.6% | -$2.3M |
| 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 | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$2.0M | N/A | -$3.4M-16.1% | -$2.9M+5.1% | -$3.0M | N/A | -$2.1M+5.6% | -$2.3M |
| EPS (Diluted) | $-1.61 | N/A | $-1.28+2.3% | $-1.31 | $-162.30 | N/A | $-11.42 | $-61.85 |
GRI Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $11.3M+30.8% | $8.7M+81.2% | $4.8M-15.7% | $5.7M+40.4% | $4.0M-29.6% | $5.7M+5.1% | $5.5M-22.4% | $7.0M |
| Current Assets | $11.3M+31.3% | $8.6M+82.9% | $4.7M-15.8% | $5.6M+41.9% | $3.9M-30.0% | $5.6M+5.5% | $5.3M-22.7% | $6.9M |
| Cash & Equivalents | $11.0M+34.3% | $8.2M+102.9% | $4.1M-20.8% | $5.1M+56.1% | $3.3M-34.7% | $5.0M+5.9% | $4.7M-25.3% | $6.4M |
| 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 | $794K-70.1% | $2.7M-4.7% | $2.8M+18.5% | $2.4M-17.1% | $2.8M+66.2% | $1.7M-5.1% | $1.8M-22.2% | $2.3M |
| Current Liabilities | $794K-70.0% | $2.6M-4.2% | $2.8M+19.5% | $2.3M-16.9% | $2.8M+69.9% | $1.6M-4.6% | $1.7M-22.6% | $2.2M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $10.5M+75.5% | $6.0M+201.5% | $2.0M-40.0% | $3.3M+175.7% | $1.2M-70.1% | $4.0M+10.2% | $3.7M-22.4% | $4.7M |
| Retained Earnings | -$53.7M-3.9% | -$51.7M-5.4% | -$49.0M-7.4% | -$45.7M-6.8% | -$42.8M-7.7% | -$39.7M-5.2% | -$37.8M-6.0% | -$35.7M |
GRI Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$3.7M-24.0% | -$3.0M-28.4% | -$2.3M+26.9% | -$3.2M-82.4% | -$1.7M+13.2% | -$2.0M+11.9% | -$2.3M-5.9% | -$2.1M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | $0 | $0 | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | -$2.0M+11.9% | -$2.3M | N/A |
| Investing Cash Flow | N/A | N/A | N/A | N/A | N/A | $0 | $0 | N/A |
| Financing Cash Flow | $6.5M-9.0% | $7.1M+473.7% | $1.2M-75.1% | $5.0M+45618.2% | -$11K-100.5% | $2.3M+245.1% | $661K-85.0% | $4.4M |
| 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 | 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 | -18.9% | N/A | -168.5%-81.5pp | -87.1%+165.7pp | -252.8% | N/A | -58.0%-10.3pp | -47.7% |
| Return on Assets | -17.6% | N/A | -70.2%-19.3pp | -51.0%+24.4pp | -75.4% | N/A | -38.9%-6.9pp | -32.0% |
| Current Ratio | 14.21+11.0 | 3.25+1.5 | 1.70-0.7 | 2.41+1.0 | 1.41-2.0 | 3.43+0.3 | 3.100.0 | 3.11 |
| Debt-to-Equity | 0.08-0.4 | 0.44-1.0 | 1.40+0.7 | 0.71-1.6 | 2.35+1.9 | 0.42-0.1 | 0.490.0 | 0.49 |
| 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 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 return on equity (ROE)?
GRI Bio (GRI) has a return on equity of -199.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
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.
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 to 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.
How financially healthy is GRI Bio?
GRI Bio (GRI) scores 26 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.