Indaptus Therapeutics, Inc. (INDP) Financials
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 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 13, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the INDP SEC filings page.
This page shows Indaptus Therapeutics, Inc. (INDP) 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).
Indaptus remains a development-stage business: rising R&D spending is funded largely through financing as losses deepen and liquidity tightens.
Between FY2024 and FY2025, net loss widened from$15.0M to$20.8M . FY2025 operating cash outflow was$14.8M , smaller than the loss, indicating reported earnings include costs not matched one-for-one by current-period cash; that gap is an earnings-quality signal, not evidence of cash generation.
The spending pattern is the business model: FY2025 R&D and SG&A totaled nearly
FY2025 financing cash inflow of
Financial Health Signals
Indaptus Therapeutics, 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.
Indaptus Therapeutics, Inc. passes 2 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.
Indaptus Therapeutics, Inc. reported a net loss of $20.8M while operations used $14.8M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Indaptus Therapeutics, Inc. reported -$1.8M in net income in Q2 2026. This represents an increase of 65.7% from the same quarter a year earlier. Against the prior quarter it is up 29.4%.
Not reported for Q2 2026.
Not reported for Q2 2026.
Cash & Balance Sheet
Indaptus Therapeutics, Inc. held $7.6M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Indaptus Therapeutics, Inc.'s ROE was -15.8% in Q2 2026, measuring profit generated per dollar of shareholder equity. Against the prior quarter it is up 187.9 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Indaptus Therapeutics, Inc. invested $363K in research and development in Q2 2026. This represents a decrease of 83.2% from the same quarter a year earlier. Against the prior quarter it is down 26.1%.
Not reported for Q2 2026.
Not reported for Q2 2026.
INDP 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.
| 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 | $363K-83.2% | $491K-82.5% | N/A | $1.5M+3.5% | $2.2M+26.4% | $2.8M+76.7% | N/A | $1.5M-34.2% |
| SG&A Expenses | $1.4M-36.9% | $1.7M-5.3% | N/A | $1.1M-32.5% | $2.3M-4.4% | $1.8M-25.1% | N/A | $1.7M-17.1% |
| Operating Income | -$1.8M+59.4% | -$2.2M+52.8% | N/A | -$2.6M+15.7% | -$4.5M-8.5% | -$4.6M-16.0% | N/A | -$3.1M+26.0% |
| EBITDA | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -$3.1M+26.0% |
| Net Income | -$1.8M+65.7% | -$2.5M+43.9% | N/A | -$3.0M+3.1% | -$5.2M-30.2% | -$4.5M-19.1% | N/A | -$3.1M+21.8% |
| EPS (Basic) | -$0.02+99.8% | -$0.23+97.5% | -$3.10-715.8% | -$2.98+67.0% | -$9.09+30.9% | -$9.11-1924.4% | -$0.38+19.1% | -$9.04-1823.4% |
| EPS (Diluted) | -$0.02 | -$0.23 | -$3.10 | -$2.98 | -$9.09 | -$9.11 | -$0.38+19.1% | -$9.04 |
| Diluted Shares (Avg) | 116M | 11M | N/A | 997,038 | 574,923 | 497,794 | N/A | 339,659 |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Interest Expense, Income Tax.
INDP 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.
| 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 | $12.0M+75.3% | N/A | $9.3M+26.9% | $6.8M-17.0% | $6.8M-15.8% | $5.4M-50.6% | $7.3M-50.8% | $8.2M-53.7% |
| Current Assets | N/A | $2.2M-56.0% | $9.3M+40.7% | $6.4M-15.6% | $6.4M-14.4% | $5.0M-51.8% | $6.6M-52.7% | $7.6M-54.7% |
| Cash & Equivalents | $7.6M+22.7% | $1.5M-61.5% | $8.5M+47.0% | $5.8M-21.1% | $6.2M-15.7% | $3.9M-60.1% | $5.8M-56.7% | $7.4M-53.8% |
| Short-Term Investments | $4.0M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $615K-92.8% | N/A | $6.2M+81.5% | $2.2M-0.1% | $8.5M+335.3% | $2.6M+64.5% | $3.4M+19.2% | $2.2M-9.1% |
| Current Liabilities | N/A | $933K-64.3% | $6.2M+81.5% | $2.2M+0.1% | $8.5M+341.5% | $2.6M+69.9% | $3.4M+22.3% | $2.2M-5.6% |
| Non-Current Liabilities | N/A | N/A | $0 | $0-100.0% | $0-100.0% | $0-100.0% | $0-100.0% | $4K-95.8% |
| Total Equity | $11.4M+779.6% | $1.2M-55.4% | $3.2M-20.1% | $4.6M-23.3% | -$1.7M-127.1% | $2.8M-70.1% | $3.9M-67.3% | $6.0M-60.8% |
| Retained Earnings | -$85.6M-22.0% | -$83.8M-29.0% | -$81.3M-34.5% | -$73.2M-30.0% | -$70.2M-31.9% | -$65.0M-32.0% | -$60.4M-33.1% | -$56.3M-36.0% |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
INDP 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.
| 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 | -$1.9M+52.0% | -$7.0M-38.9% | -$3.2M+6.0% | -$2.6M-2.2% | -$4.0M-62.2% | -$5.0M-28.2% | -$3.4M-30.5% | -$2.5M+32.7% |
| Depreciation & Amortization | N/A | N/A | N/A | N/A | N/A | N/A | $0-100.0% | $0-100.0% |
| Stock-Based Compensation | N/A | $227K-5.7% | N/A | $151K-66.1% | $181K-76.9% | $241K-68.9% | N/A | $444K-41.9% |
| Financing Cash Flow | N/A | N/A | $5.9M+225.9% | $2.2M-13.8% | $6.3M+16411.3% | $3.2M+897.1% | $1.8M | $2.6M |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Investing Cash Flow, Dividends Paid, Share Buybacks.
INDP 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.
| 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 | -15.8% | -203.6%-41.7pp | N/A | -64.6%-13.5pp | N/A | -161.9%-121.2pp | N/A | -51.1%-25.5pp |
| Return on Assets | -15.0%+61.5pp | N/A | N/A | -43.5%-6.3pp | -76.5%-27.0pp | -83.8%-49.0pp | N/A | -37.3%-15.2pp |
| Current Ratio | N/A | 2.34+0.4x | 1.51-0.4x | 2.88-0.5x | 0.75-3.1x | 1.90-4.8x | 1.95-3.1x | 3.42-3.7x |
| Debt-to-Equity | 0.05 | N/A | 1.95+1.1x | 0.49+0.1x | N/A | 0.93+0.8x | 0.86+0.6x | 0.37+0.2x |
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 |
|---|---|---|---|---|---|---|
| Indaptus Therapeutics, Inc. INDP | FY2025 | N/A | -$20.8M | N/A | $334.4M | — |
| Enveric Biosciences, Inc. ENVB | FY2025 | N/A | $12.1M | N/A | $6.5M | — |
| Silexion Therapeutics Corp SLXN | FY2025 | $155K | -$11.9M | N/A | $1.2M | — |
| PMGC Holdings Inc. ELAB | FY2025 | $590K | -$7.7M | N/A | $2.5M | — |
| SciSparc Ltd. SPRC | FY2025 | $856K | -$12.6M | N/A | $2.6M | — |
Where Indaptus Therapeutics, Inc. Ranks
Frequently Asked Questions
Is Indaptus Therapeutics, Inc. profitable?
No, Indaptus Therapeutics, Inc. (INDP) reported a net income of -$20.8M in fiscal year 2025.
What is Indaptus Therapeutics, Inc.'s return on equity (ROE)?
Indaptus Therapeutics, Inc. (INDP) has a return on equity of -661.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Indaptus Therapeutics, Inc.'s operating cash flow?
Indaptus Therapeutics, Inc. (INDP) recorded an outflow of $14.8M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Indaptus Therapeutics, Inc.'s total assets?
Indaptus Therapeutics, Inc. (INDP) had $9.3M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Indaptus Therapeutics, Inc. spend on research and development?
Indaptus Therapeutics, Inc. (INDP) invested $9.3M in research and development during fiscal year 2025.
What is Indaptus Therapeutics, Inc.'s current ratio?
Indaptus Therapeutics, Inc. (INDP) had a current ratio of 1.51 as of fiscal year 2025, which is generally considered healthy.
What is Indaptus Therapeutics, Inc.'s debt-to-equity ratio?
Indaptus Therapeutics, Inc. (INDP) had a debt-to-equity ratio of 1.95 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Indaptus Therapeutics, Inc.'s return on assets (ROA)?
Indaptus Therapeutics, Inc. (INDP) had a return on assets of -223.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Indaptus Therapeutics, Inc.'s P/E ratio?
Indaptus Therapeutics, Inc. (INDP) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $334.4M as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Indaptus Therapeutics, Inc.'s price-to-sales ratio?
Indaptus Therapeutics, Inc. (INDP) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $334.4M as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Indaptus Therapeutics, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Indaptus Therapeutics, Inc. (INDP) held $8.5M in cash, cash equivalents and investments, and reported an operating cash outflow of $14.8M over that year. Dividing the one by the other, the reported balance equals about 7 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 Indaptus Therapeutics, Inc.'s Piotroski F-Score?
Indaptus Therapeutics, Inc. (INDP) 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 Indaptus Therapeutics, Inc.'s earnings high quality?
Indaptus Therapeutics, Inc. (INDP) reported a net loss of $20.8M while operations used $14.8M 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.