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

GRI Bio, Inc. (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.

GRI Bio, Inc. (GRI) Financials

GRI

FY2025 annual

Net Income -$12.0M -45.7% YoY

EPS (Diluted) -$121.80 YoY not available

Free Cash Flow -$10.2M -18.3% YoY

Operating Cash Flow -$10.2M -18.3% YoY

Market Cap $4.0M as of Oct 8, 2026

Price / Sales n/m no revenue reported

Price / Earnings n/m net loss, so no earnings multiple, FY2025

Price / Book 0.4x on $10.3M 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 8, 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 Aug 14, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 14, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the GRI SEC filings page.

This page shows GRI Bio, Inc. (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).

Rhea AI GRI FY2025 2026-10-04

GRI remains a development-stage business, with rising research spending and losses financed largely through new capital rather than operations.

From FY2024 to FY2025, the net loss widened from $8.2M to $12.0M, while operating cash outflow moved from $8.6M to $10.2M. Their close alignment indicates the reported losses are translating into cash needs rather than being driven mainly by non-cash accounting charges.

Research and development increased from $3.8M in FY2024 to $6.8M in FY2025, while no revenue figure was reported; the financial profile is therefore centered on funding development activity, not monetized operations.

FY2025 financing cash inflow of $13.4M exceeded operating cash outflow, lifting total equity to $6.0M and leaving a 3.3x current ratio. The reported liquidity measure was 9.7 months of the latest annual operating outflow, tying the balance-sheet improvement to external financing rather than internally generated cash.

Financial Health Signals

Financial health score not available

GRI Bio, Inc. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

2/6

GRI Bio, Inc. passes 2 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality No Cash Backing

N/A

GRI Bio, Inc. reported a net loss of $12.0M while operations used $10.2M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Key Financial Metrics

Export CSV

Earnings & Revenue

EBITDA

-$1.6M

YoY+43.1%

QoQ+17.7%

GRI Bio, Inc.'s EBITDA was -$1.6M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 43.1% from the same quarter a year earlier. Against the prior quarter it is up 17.7%.

Net Income

-$1.6M

YoY+43.2%

QoQ+17.8%

GRI Bio, Inc. reported -$1.6M in net income in Q2 2026. This represents an increase of 43.2% from the same quarter a year earlier. Against the prior quarter it is up 17.8%.

EPS (Diluted)

-$0.91

QoQ+43.5%

GRI Bio, Inc. earned -$0.91 per diluted share (EPS) in Q2 2026. Against the prior quarter it is up 43.5%.

Revenue

Not reported for Q2 2026.

Cash & Balance Sheet

Cash & Debt

$10.9M

YoY+113.7%

QoQ-0.9%

5Y CAGR+0.9%

GRI Bio, Inc. held $10.9M in cash as of Q2 2026; long-term debt is not reported for that period.

Shares Outstanding

QoQ+23.5%

5Y CAGR-20.3%

GRI Bio, Inc. had 2M shares outstanding in Q2 2026. Against the prior quarter it is up 23.5%.

Free Cash Flow

Not reported for Q2 2026.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Return on Equity

-16.0%

YoY+71.0pp

QoQ+3.0pp

GRI Bio, Inc.'s ROE was -16.0% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 71.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.0 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

$407K

YoY-78.3%

QoQ+12.7%

GRI Bio, Inc. invested $407K in research and development in Q2 2026. This represents a decrease of 78.3% from the same quarter a year earlier. Against the prior quarter it is up 12.7%.

Share Buybacks

Not reported for Q2 2026.

Capital Expenditures

Not reported for Q2 2026.

GRI 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.

GRI quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K
Revenue	N/A	N/A	N/A	N/A	N/A	$0-100.0%	$100K
R&D Expenses	N/A	$6.8M+81.0%	$3.8M+16.6%	$3.2M+1235.5%	$242K-95.3%	$5.2M+39.9%	$3.7M
SG&A Expenses	N/A	$5.2M+15.5%	$4.5M-45.2%	$8.2M	N/A	$4.1M+244.8%	$1.2M
Operating Income	N/A	-$12.0M-45.4%	-$8.2M+27.7%	-$11.4M	N/A	-$9.3M	N/A
EBITDA	N/A	-$12.0M-45.5%	-$8.2M+27.7%	-$11.4M	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	$2.1M+218.8%	$653K+3981.3%	$16K-52.9%	$34K
Income Tax	N/A	$3K+50.0%	$2K	N/A	N/A	N/A	N/A
Net Income	N/A	-$12.0M-45.7%	-$8.2M+37.0%	-$13.0M	N/A	-$9.3M	N/A
EPS (Basic)	N/A	-$121.80+92.1%	-$1545.55+69.2%	-$5018.09-20012.6%	-$24.95-1657.0%	-$1.42-32.7%	-$1.07
EPS (Diluted)	—	-$121.80	-$1545.55	-$5018.09	-$24.95	-$1.42-32.7%	-$1.07
Diluted Shares (Avg)	N/A	98,162	6,547	2,598	128,994	7M+45.2%	5M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
R&D Expenses	$407K-78.3%	$361K-78.0%	N/A	$1.8M+57.2%	$1.9M+114.3%	$1.6M+75.8%	N/A	$1.1M-5.4%
SG&A Expenses	$1.2M+21.9%	$1.6M+16.4%	N/A	$1.6M+58.8%	$1.0M-26.2%	$1.4M+46.7%	N/A	$1.0M-19.6%
Operating Income	-$1.6M+43.1%	-$2.0M+34.3%	N/A	-$3.4M-58.0%	-$2.9M-28.4%	-$3.1M-61.0%	N/A	-$2.1M+12.7%
EBITDA	-$1.6M+43.1%	-$2.0M+34.4%	N/A	-$3.4M-58.0%	-$2.9M-28.4%	-$3.0M-61.0%	N/A	-$2.1M+12.7%
Net Income	-$1.6M+43.2%	-$2.0M+34.4%	N/A	-$3.4M-58.2%	-$2.9M-28.5%	-$3.0M-61.4%	N/A	-$2.1M+0.7%
EPS (Basic)	-$0.91+97.5%	-$1.61+99.0%	-$116.61+92.1%	-$1.28+88.8%	-$36.72+40.6%	-$162.30-60.6%	-$1468.00+67.9%	-$11.42+82.6%
EPS (Diluted)	-$0.91	-$1.61	-$116.61	-$1.28	-$36.72	-$162.30-60.6%	-$1468.00	-$11.42
Diluted Shares (Avg)	2M	1M	N/A	3M	78,757	18,768+0.6%	N/A	185,924

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

GRI Balance Sheet

GRI quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K
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
Short-Term Investments	$0	$0	$0	$0-100.0%	$3.8M	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0
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
Non-Current Liabilities	$15K-78.9%	$71K	$0-100.0%	$14K-99.9%	$10.7M+5735.9%	$184K
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	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$11.4M+100.5%	$11.3M+180.5%	$8.7M+51.0%	$4.8M-12.4%	$5.7M-19.3%	$4.0M-11.9%	$5.7M+94.1%	$5.5M+24.0%
Current Assets	$11.3M+103.3%	$11.3M+187.0%	$8.6M+53.0%	$4.7M-11.8%	$5.6M-19.0%	$3.9M-11.2%	$5.6M+91.4%	$5.3M+21.9%
Cash & Equivalents	$10.9M+113.7%	$11.0M+236.7%	$8.2M+63.7%	$4.1M-14.6%	$5.1M-19.4%	$3.3M-19.8%	$5.0M+178.1%	$4.7M+36.1%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$1.1M-53.3%	$794K-72.0%	$2.7M+55.7%	$2.8M+55.0%	$2.4M+1.8%	$2.8M+58.6%	$1.7M-36.7%	$1.8M-17.4%
Current Liabilities	$1.1M-52.4%	$794K-71.4%	$2.6M+61.6%	$2.8M+60.9%	$2.3M+4.2%	$2.8M+65.4%	$1.6M-39.3%	$1.7M-21.2%
Non-Current Liabilities	$0-100.0%	$0-100.0%	$15K-78.9%	$30K-64.3%	$44K-54.2%	$58K-46.8%	$71K	$84K
Total Equity	$10.3M+209.4%	$10.5M+775.1%	$6.0M+49.0%	$2.0M-45.5%	$3.3M-29.6%	$1.2M-56.9%	$4.0M+1456.8%	$3.7M+64.3%
Retained Earnings	-$55.3M-21.1%	-$53.7M-25.5%	-$51.7M-30.1%	-$49.0M-29.8%	-$45.7M-28.1%	-$42.8M-28.0%	-$39.7M-26.0%	-$37.8M-28.0%

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

GRI Cash Flow Statement

GRI quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K
Operating Cash Flow	-$10.4M	-$10.2M-18.3%	-$8.6M+4.2%	-$9.0M-728.6%	-$1.1M+86.9%	-$8.3M-124.3%	-$3.7M
Depreciation & Amortization	N/A	$4K0.0%	$4K0.0%	$4K-98.1%	$209K	N/A	N/A
Stock-Based Compensation	N/A	$793K+435.8%	$148K-61.9%	$388K+1452.0%	$25K-96.0%	$626K+306.5%	$154K
Capital Expenditures	N/A	$3K	$0-100.0%	$8K+166.7%	$3K	$0-100.0%	$2K
Free Cash Flow	N/A	-$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	N/A	-$3K	$0+100.0%	-$8K-166.7%	-$3K+99.9%	-$3.8M-192000.0%	-$2K
Financing Cash Flow	$16.2M	$13.4M+13.2%	$11.8M+9.6%	$10.8M+972.2%	$1.0M-93.6%	$15.7M+393775.0%	-$4K

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	-$1.4M+54.3%	-$3.7M-112.3%	-$3.0M-48.6%	-$2.3M-2.0%	-$3.2M-47.9%	-$1.7M+21.2%	-$2.0M+64.0%	-$2.3M-73.0%
Depreciation & Amortization	$0-100.0%	$1K0.0%	$1K0.0%	$1K0.0%	$1K0.0%	$1K0.0%	$1K0.0%	$1K0.0%
Stock-Based Compensation	$34K-17.1%	$31K-85.9%	N/A	$465K+1156.8%	$41K+10.8%	$220K+494.6%	N/A	$37K-88.7%
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	$0	$0
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	-$2.0M+64.0%	-$2.3M-73.0%
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	$0	$0
Financing Cash Flow	$1.3M-73.1%	$6.5M+59227.3%	$7.1M+213.4%	$1.2M+88.5%	$5.0M+13.7%	-$11K-100.2%	$2.3M-41.2%	$661K

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

GRI 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.

GRI quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K
Return on Equity	-199.0%+4.5pp	-203.5%+4830.0pp	-5033.6%	N/A	N/A	N/A
Return on Assets	-138.0%+5.0pp	-143.0%+298.0pp	-441.0%	N/A	-111.6%	N/A
Current Ratio	3.25-0.2x	3.43+2.3x	1.09+0.9x	0.16-3.2x	3.32+3.0x	0.30
Debt-to-Equity	0.440.0x	0.42-10.0x	10.41	N/A	N/A	N/A
Asset Turnover	N/A	N/A	N/A	N/A	0.00-0.1x	0.10
FCF Margin	N/A	N/A	N/A	N/A	N/A	-3708.0%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Return on Equity	-16.0%+71.0pp	-18.9%+233.8pp	N/A	-168.5%-110.5pp	-87.0%-39.3pp	-252.8%-185.3pp	N/A	-58.0%+38.0pp
Return on Assets	-14.4%+36.5pp	-17.6%+57.7pp	N/A	-70.2%-31.4pp	-51.0%-19.0pp	-75.4%-34.2pp	N/A	-38.9%+9.6pp
Current Ratio	10.30+7.9x	14.21+12.8x	3.25-0.2x	1.70-1.4x	2.41-0.7x	1.41-1.2x	3.43+2.3x	3.10+1.1x
Debt-to-Equity	0.11-0.6x	0.08-2.3x	0.440.0x	1.40+0.9x	0.71+0.2x	2.35+1.7x	0.42-10.0x	0.49-0.5x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Asset Turnover, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
GRI Bio, Inc. GRI	FY2025	N/A	-$12.0M	N/A	$4.0M	—
Palisade Bio, Inc. PALI	FY2025	$0	-$16.8M	N/A	$259.7M	—
ADITXT INC ADTX	FY2025	$3K	-$43.1M	N/A	$34K	—
Aptevo Therapeutics Inc APVO	FY2025	N/A	-$26.0M	N/A	$3.2M	—
TITAN PHARMACEUTICAL INC TTNP	FY2024	N/A	-$4.7M	N/A	$6.1M	—
Xenetic Biosciences, Inc. XBIO	FY2025	$3.0M	-$2.7M	-90.1%	$5.0M	66/100

Where GRI Bio, Inc. Ranks

Frequently Asked Questions

Is GRI Bio, Inc. profitable?

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

What is GRI Bio, Inc.'s EBITDA?

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

What is GRI Bio, Inc.'s return on equity (ROE)?

GRI Bio, Inc. (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, Inc.'s free cash flow?

GRI Bio, Inc. (GRI) recorded an outflow of $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, Inc.'s operating cash flow?

GRI Bio, Inc. (GRI) recorded an outflow of $10.2M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are GRI Bio, Inc.'s total assets?

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

What are GRI Bio, Inc.'s capital expenditures?

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

How much does GRI Bio, Inc. spend on research and development?

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

How many shares does GRI Bio, Inc. have outstanding?

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

What is GRI Bio, Inc.'s current ratio?

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

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

GRI Bio, Inc. (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, Inc.'s return on assets (ROA)?

GRI Bio, Inc. (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, Inc.'s P/E ratio?

GRI Bio, Inc. (GRI) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $4.0M as of Oct 8, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is GRI Bio, Inc.'s price-to-sales ratio?

GRI Bio, Inc. (GRI) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $4.0M as of Oct 8, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

How does GRI Bio, Inc.'s liquidity compare with its operating cash outflow?

At the end of fiscal year 2025, GRI Bio, Inc. (GRI) held $8.2M in cash, cash equivalents and investments, and reported an operating cash outflow of $10.2M over that year. Dividing the one by the other, the reported balance equals about 10 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.

What is GRI Bio, Inc.'s Piotroski F-Score?

GRI Bio, Inc. (GRI) has a Piotroski F-Score of 2 out of 6 computable signals; 3 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.

Are GRI Bio, Inc.'s earnings high quality?

GRI Bio, Inc. (GRI) reported a net loss of $12.0M while operations used $10.2M 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.