Indaptus Therapeutics Inc Financials
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 pre-revenue research enterprise whose core mechanic is using external financing to fund continuing cash burn.
Cash rose to$8.5M from$5.8M in the latest year. But that stronger balance came with-$14.8M of operating cash flow and$17.5M of financing inflows, so the company is not becoming self-funding; it is replenishing liquidity from capital raising. The pressure shows up in short-term liquidity: current ratio fell from 5.0x to 1.5x over the recent period.
Spending intensity increased on both fronts: R&D reached
The business consumed more cash in operations than it ended the year holding, with
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 1 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
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 -$20.8M in net income in fiscal year 2025. This represents a decrease of 38.8% from the prior year.
Indaptus Therapeutics Inc earned -$21.58 per diluted share (EPS) in fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Indaptus Therapeutics Inc held $8.5M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Indaptus Therapeutics Inc's ROE was -661.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 280.7 percentage points from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
Indaptus Therapeutics Inc invested $9.3M in research and development in fiscal year 2025. This represents an increase of 28.8% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
INDP Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|---|
| R&D Expenses | N/A | $9.3M+28.8% | $7.3M-4.9% | $7.6M+20.5% | $6.3M+150.7% | $2.5M-5.0% | $2.7M |
| SG&A Expenses | N/A | $10.5M+29.3% | $8.1M-7.3% | $8.8M+2.0% | $8.6M+64.9% | $5.2M+451.3% | $944K |
| Operating Income | N/A | -$19.8M-29.1% | -$15.4M+6.2% | -$16.4M-9.8% | -$14.9M-92.9% | -$7.7M-114.7% | -$3.6M |
| Income Tax | N/A | $2K+0.9% | $2K-30.6% | $2K+8066.7% | $30-98.2% | $2K+106.3% | $800 |
| Net Income | N/A | -$20.8M-38.8% | -$15.0M+2.6% | -$15.4M-7.7% | -$14.3M-85.7% | -$7.7M-115.2% | -$3.6M |
| EPS (Diluted) | — | -$21.58 | -$44.96 | -$1.83-5.8% | -$1.73 | N/A | N/A |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Interest Expense.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
INDP Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|
| Total Assets | $9.3M+26.9% | $7.3M-50.8% | $14.9M-46.8% | $28.1M-30.8% | $40.6M+2182.4% | $1.8M |
| Current Assets | $9.3M+40.7% | $6.6M-52.7% | $14.0M-48.6% | $27.2M-32.5% | $40.4M+2231.8% | $1.7M |
| Cash & Equivalents | $8.5M+47.0% | $5.8M-56.7% | $13.4M+38.8% | $9.6M-75.4% | $39.1M+2289.8% | $1.6M |
| Total Liabilities | $6.2M+81.5% | $3.4M+19.2% | $2.8M-17.1% | $3.4M-26.6% | $4.7M+132.1% | $2.0M |
| Current Liabilities | $6.2M+81.5% | $3.4M+22.3% | $2.8M-19.2% | $3.4M-25.4% | $4.6M+128.4% | $2.0M |
| Total Equity | $3.2M-20.1% | $3.9M-67.3% | $12.1M-51.0% | $24.6M-31.4% | $35.9M+15202.8% | -$238K |
| Retained Earnings | -$81.3M-34.5% | -$60.4M-33.1% | -$45.4M-51.4% | -$30.0M-91.4% | -$15.7M-96.9% | -$8.0M |
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.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$14.7M | -$14.8M-20.3% | -$12.3M+8.1% | -$13.4M-2.5% | -$13.1M-15.8% | -$11.3M-239.6% | -$3.3M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | $4K | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | -$11.3M | N/A |
| Investing Cash Flow | N/A | N/A | N/A | $17.1M+204.3% | -$16.4M-3768.8% | $448K | N/A |
| Financing Cash Flow | N/A | $17.5M+269.5% | $4.7M | N/A | N/A | $48.3M+4055.7% | $1.2M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
INDP Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|
| Return on Equity | -661.5%-280.7pp | -380.8%-253.1pp | -127.7%-69.6pp | -58.1%-36.7pp | -21.5% | N/A |
| Return on Assets | -223.9%-19.2pp | -204.7%-101.3pp | -103.4%-52.3pp | -51.0%-32.0pp | -19.0%+182.6pp | -201.6% |
| Current Ratio | 1.51-0.4x | 1.95-3.1x | 5.05-2.9x | 7.94-0.8x | 8.77+7.9x | 0.86 |
| Debt-to-Equity | 1.95+1.1x | 0.86+0.6x | 0.24+0.1x | 0.140.0x | 0.13 | N/A |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, FCF Margin.
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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.
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 1 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.