Disc Medicine Inc Financials
This page shows Disc Medicine Inc (IRON) 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).
Disc Medicine’s dominant mechanic is escalating development investment funded externally, with cash losses closely tracking reported earnings.
In FY2025, operating cash flow of-$180M nearly matched net loss of-$212M . Free cash flow of-$181M was similarly close, indicating that reported losses were largely cash-based rather than driven by large non-cash charges.
R&D rose from
FY2025 financing cash flow was
Financial Health Signals
Disc Medicine 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.
Disc Medicine Inc passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass.
Disc Medicine Inc reported a net loss of $212.2M while operations used $180.4M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Disc Medicine Inc reported an operating loss of $236.0M against $3.6M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Disc Medicine Inc's EBITDA was -$235.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 81.9% from the prior year.
Disc Medicine Inc reported -$212.2M in net income in fiscal year 2025. This represents a decrease of 94.0% from the prior year.
Disc Medicine Inc earned -$6.01 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 51.8% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Disc Medicine Inc recorded an outflow of $181.3M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 92.0% from the prior year.
Disc Medicine Inc held $91.1M in cash against $29.2M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Disc Medicine Inc's ROE was -28.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 4.0 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
Disc Medicine Inc invested $170.6M in research and development in fiscal year 2025. This represents an increase of 76.5% from the prior year.
Disc Medicine Inc invested $933K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 84.8% from the prior year.
Not reported for fiscal year 2025.
IRON Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| R&D Expenses | $46.9M+2.2% | $45.9M | N/A | $50.3M+8.7% | $46.3M+66.8% | $27.8M | N/A | $24.7M |
| SG&A Expenses | $18.1M-23.2% | $23.6M | N/A | $17.4M+15.0% | $15.1M+23.9% | $12.2M | N/A | $8.2M |
| Operating Income | -$65.1M+6.4% | -$69.5M | N/A | -$67.7M-10.2% | -$61.4M-53.7% | -$39.9M | N/A | -$32.9M |
| Interest Expense | $908K+7.6% | $844K | N/A | $917K+0.8% | $910K+1.4% | $897K | N/A | $0 |
| Income Tax | $69K+35.3% | $51K | N/A | $102K+96.2% | $52K-56.3% | $119K | N/A | $114K |
| Net Income | -$59.5M+6.3% | -$63.5M | N/A | -$62.3M-12.8% | -$55.2M-62.1% | -$34.1M | N/A | -$26.6M |
| EPS (Diluted) | -$1.54+6.7% | -$1.65-1.9% | -$1.62+8.5% | -$1.77-12.0% | -$1.58-54.9% | -$1.02-4.1% | -$0.98-10.1% | -$0.89 |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit.
IRON Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $735.1M-2.0% | $750.2M-7.0% | $806.9M+28.0% | $630.5M-5.2% | $665.1M-6.2% | $709.3M+42.8% | $496.8M+0.3% | $495.1M |
| Current Assets | $732.8M-2.0% | $747.5M-7.0% | $803.9M+28.2% | $627.2M-5.2% | $661.6M-6.2% | $705.6M+42.9% | $493.6M+0.1% | $493.2M |
| Cash & Equivalents | $98.7M+11.0% | $88.9M-2.4% | $91.1M-35.2% | $140.7M+10.5% | $127.3M+3.8% | $122.7M-36.3% | $192.4M-0.1% | $192.6M |
| Total Liabilities | $90.9M+47.1% | $61.8M-7.9% | $67.1M+17.5% | $57.1M+12.1% | $50.9M+4.1% | $48.9M-8.1% | $53.2M+95.6% | $27.2M |
| Current Liabilities | $30.4M-2.5% | $31.1M-15.0% | $36.6M+37.0% | $26.7M+29.8% | $20.6M+10.0% | $18.7M-19.6% | $23.3M-8.5% | $25.5M |
| Long-Term Debt | $59.3M+102.1% | $29.4M+0.7% | $29.2M+0.7% | $28.9M+0.7% | $28.7M+0.7% | $28.5M+0.7% | $28.3M | N/A |
| Total Equity | $644.2M-6.4% | $688.4M-6.9% | $739.8M+29.0% | $573.4M-6.6% | $614.2M-7.0% | $660.4M+48.9% | $443.6M-5.2% | $468.0M |
| Retained Earnings | -$633.2M-10.4% | -$573.7M-12.4% | -$510.2M-13.5% | -$449.7M-16.1% | -$387.3M-16.6% | -$332.1M-11.4% | -$298.0M-11.0% | -$268.5M |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill.
IRON 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 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$44.2M+29.0% | -$62.2M-43.7% | -$43.3M+9.4% | -$47.8M+0.2% | -$47.9M-15.8% | -$41.4M-50.1% | -$27.6M-58.8% | -$17.4M |
| Capital Expenditures | $0 | $0-100.0% | $20K-23.1% | $26K-27.8% | $36K-95.8% | $851K+89.5% | $449K+5512.5% | -$8K |
| Free Cash Flow | -$44.2M+29.0% | -$62.2M-43.7% | -$43.3M+9.4% | -$47.8M+0.3% | -$48.0M-13.6% | -$42.2M-50.7% | -$28.0M-61.3% | -$17.4M |
| Investing Cash Flow | $21.6M-62.9% | $58.3M+126.2% | -$222.9M-549.9% | $49.5M-4.2% | $51.7M+119.0% | -$272.6M-19018.7% | -$1.4M+98.0% | -$71.1M |
| Financing Cash Flow | $32.3M+1805.4% | $1.7M-99.2% | $216.7M+1769.8% | $11.6M+1199.1% | $892K-99.6% | $244.3M+748.2% | $28.8M+6659.9% | $426K |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
IRON Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | -9.2%0.0pp | -9.2% | N/A | -10.9%-1.9pp | -9.0%-3.8pp | -5.2% | N/A | -5.7% |
| Return on Assets | -8.1%+0.4pp | -8.5% | N/A | -9.9%-1.6pp | -8.3%-3.5pp | -4.8% | N/A | -5.4% |
| Current Ratio | 24.14+0.1x | 24.00+2.1x | 21.94-1.5x | 23.45-8.7x | 32.11-5.5x | 37.65+16.5x | 21.17+1.8x | 19.36 |
| Debt-to-Equity | 0.090.0x | 0.040.0x | 0.040.0x | 0.050.0x | 0.050.0x | 0.040.0x | 0.060.0x | 0.06 |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, FCF Margin.
Similar Companies
Where Disc Medicine Inc Ranks
Frequently Asked Questions
Is Disc Medicine Inc profitable?
No, Disc Medicine Inc (IRON) reported a net income of -$212.2M in fiscal year 2025.
What is Disc Medicine Inc's EBITDA?
Disc Medicine Inc (IRON) had EBITDA of -$235.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Disc Medicine Inc have?
As of fiscal year 2025, Disc Medicine Inc (IRON) had $91.1M in cash and equivalents against $29.2M in long-term debt.
What is Disc Medicine Inc's return on equity (ROE)?
Disc Medicine Inc (IRON) has a return on equity of -28.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Disc Medicine Inc's free cash flow?
Disc Medicine Inc (IRON) recorded an outflow of $181.3M in free cash flow during fiscal year 2025. This represents a -92.0% 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 Disc Medicine Inc's operating cash flow?
Disc Medicine Inc (IRON) recorded an outflow of $180.4M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Disc Medicine Inc's total assets?
Disc Medicine Inc (IRON) had $806.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Disc Medicine Inc's capital expenditures?
Disc Medicine Inc (IRON) invested $933K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Disc Medicine Inc spend on research and development?
Disc Medicine Inc (IRON) invested $170.6M in research and development during fiscal year 2025.
What is Disc Medicine Inc's current ratio?
Disc Medicine Inc (IRON) had a current ratio of 21.94 as of fiscal year 2025, which is generally considered healthy.
What is Disc Medicine Inc's debt-to-equity ratio?
Disc Medicine Inc (IRON) had a debt-to-equity ratio of 0.04 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Disc Medicine Inc's return on assets (ROA)?
Disc Medicine Inc (IRON) had a return on assets of -26.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
How does Disc Medicine Inc's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Disc Medicine Inc (IRON) held $791.2M in cash, cash equivalents and investments, and reported an operating cash outflow of $180.4M over that year. Dividing the one by the other, the reported balance equals about 53 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 Disc Medicine Inc's Piotroski F-Score?
Disc Medicine Inc (IRON) has a Piotroski F-Score of 3 out of 7 computable signals; 2 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 Disc Medicine Inc's earnings high quality?
Disc Medicine Inc (IRON) reported a net loss of $212.2M while operations used $180.4M 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.
Can Disc Medicine Inc cover its interest payments?
Disc Medicine Inc (IRON) reported an operating loss of $236.0M against $3.6M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.