What is Jaguar Health Inc's earnings per share (EPS)?

Jaguar Health Inc (JAGX) reported diluted earnings per share of $-0.02 for fiscal year 2025. This represents a 82.4% change compared to the previous fiscal year. 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.

Jaguar Health Inc Financials

JAGX

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Jaguar Health Inc (JAGX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 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 JAGX FY2025 2026-05-20

Jaguar Health looks less like a scaled seller and more like a cash-funded development program carrying a small commercial base.

Despite FY2025 operating cash burn easing to -$23.7M from -$29.4M in FY2024, the business still did not become self-funding. Financing inflows again roughly matched that burn, yet liquidity worsened as cash fell sharply and the current ratio slipped to 0.5x, meaning new capital is functioning as day-to-day support rather than a reserve.

FY2025’s 99.2% gross margin says the model is not constrained by production cost; the real economic burden sits above gross profit. With revenue near $11.5M and R&D alone at $25.0M, the commercial operation is still covering only a fraction of the development effort.

The balance sheet became more financing-dependent in FY2025: equity turned negative and current liabilities moved above current assets, so short-term obligations are leaning more on external funding than on internally generated liquidity. Cash ended the year at just $968K, leaving little buffer relative to recent annual operating cash use.

Financial Health Signals

Financial Profile 10/100

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 Jaguar Health Inc'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.

Profitability

Jaguar Health Inc has an operating margin of -398.8%, meaning the company retains $-399 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -263.8% the prior year.

Growth

Jaguar Health Inc's revenue declined 1.5% year-over-year, from $11.7M to $11.5M. This contraction results in a growth score of 48/100.

Leverage

Jaguar Health Inc has elevated debt relative to equity (D/E of -3.05), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Liquidity

Jaguar Health Inc's current ratio of 0.50 is below the typical benchmark, resulting in a score of 4/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Piotroski F-Score Weak

2/9

Jaguar Health Inc passes 2 of 9 financial strength tests. No profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Low Quality

438.63x

For every $1 of reported earnings, Jaguar Health Inc generates $438.63 in operating cash flow (-$23.7M OCF vs -$54K net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-685.2x

Jaguar Health Inc earns $-685.2 in operating income for every $1 of interest expense (-$45.9M vs $67K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$11.5M

YoY-1.5%

5Y CAGR+4.2%

10Y CAGR+46.2%

Jaguar Health Inc generated $11.5M in revenue in fiscal year 2025. This represents a decrease of 1.5% from the prior year.

EBITDA

-$44.0M

YoY-52.1%

Jaguar Health Inc's EBITDA was -$44.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 52.1% from the prior year.

Net Income

-$54K

YoY-37.6%

Jaguar Health Inc reported -$54K in net income in fiscal year 2025. This represents a decrease of 37.6% from the prior year.

EPS (Diluted)

$-0.02

YoY+82.4%

Jaguar Health Inc earned $-0.02 per diluted share (EPS) in fiscal year 2025. This represents an increase of 82.4% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$968K

YoY-87.9%

5Y CAGR-34.6%

10Y CAGR-18.7%

Jaguar Health Inc held $968K in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

99.2%

YoY+15.9pp

5Y CAGR+34.1pp

10Y CAGR+46.9pp

Jaguar Health Inc's gross margin was 99.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 15.9 percentage points from the prior year.

Operating Margin

-398.8%

YoY-135.1pp

5Y CAGR-114.9pp

10Y CAGR+4417.9pp

Jaguar Health Inc's operating margin was -398.8% in fiscal year 2025, reflecting core business profitability. This is down 135.1 percentage points from the prior year.

Net Margin

-0.5%

YoY-0.1pp

5Y CAGR+359.8pp

10Y CAGR+6304.8pp

Jaguar Health Inc's net profit margin was -0.5% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.1 percentage points from the prior year.

Return on Equity

N/A

Capital Allocation

R&D Spending

$25.0M

YoY+50.9%

5Y CAGR+31.2%

10Y CAGR+14.4%

Jaguar Health Inc invested $25.0M in research and development in fiscal year 2025. This represents an increase of 50.9% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

JAGX Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$11.5M-1.5%	$11.7M+19.8%	$9.8M-18.4%	$12.0M+175.8%	$4.3M-53.8%	$9.4M
Cost of Revenue	$97K-95.0%	$2.0M-4.0%	$2.0M+0.9%	$2.0M-13.5%	$2.3M-28.9%	$3.3M
Gross Profit	$11.4M+17.3%	$9.7M+26.0%	$7.7M-22.3%	$9.9M+396.4%	$2.0M-67.2%	$6.1M
R&D Expenses	$25.0M+50.9%	$16.5M-11.0%	$18.6M+5.4%	$17.6M+17.0%	$15.1M+135.1%	$6.4M
SG&A Expenses	$18.6M+14.2%	$16.3M-1.5%	$16.6M-7.2%	$17.9M+4.5%	$17.1M+18.9%	$14.4M
Operating Income	-$45.9M-48.9%	-$30.8M+10.1%	-$34.3M+0.4%	-$34.4M+15.5%	-$40.7M-52.8%	-$26.6M
Interest Expense	$67K-71.0%	$231K-96.4%	$6.4M-49.8%	$12.7M+51.1%	$8.4M+201.6%	$2.8M
Income Tax	$0	$0	$0	$0	$0	$0
Net Income	-$54K-37.6%	-$39K+6.3%	-$42K+13.4%	-$48K+8.0%	-$53K+99.8%	-$33.8M
EPS (Diluted)	$-0.02+82.4%	$-0.13+95.1%	$-2.68-7298.3%	$-0.04+59.0%	$-0.09+97.1%	$-3.00

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$20.3M+526.6%	$3.2M+4.9%	$3.1M+3.5%	$3.0M+34.6%	$2.2M-36.9%	$3.5M+12.9%	$3.1M+14.2%	$2.7M
Cost of Revenue	$1.2M+210.6%	-$1.0M-296.8%	$532K+448.5%	$97K-81.2%	$515K-7.5%	$557K+3.0%	$541K+26.7%	$427K
Gross Profit	$19.1M+346.4%	$4.3M+67.9%	$2.6M-11.5%	$2.9M+69.6%	$1.7M-42.4%	$3.0M+15.0%	$2.6M+11.9%	$2.3M
R&D Expenses	$3.9M-72.6%	$14.3M+291.3%	$3.7M+12.0%	$3.3M-12.5%	$3.7M-17.7%	$4.5M+12.1%	$4.0M+10.7%	$3.7M
SG&A Expenses	$4.1M-15.9%	$4.9M+18.2%	$4.1M-12.5%	$4.7M-3.5%	$4.9M+26.9%	$3.9M+2.2%	$3.8M-12.5%	$4.3M
Operating Income	$10.2M+147.9%	-$21.2M-193.5%	-$7.2M+9.6%	-$8.0M+15.0%	-$9.4M-15.5%	-$8.2M-12.3%	-$7.3M-0.9%	-$7.2M
Interest Expense	$699K+429.5%	$132K+2100.0%	$6K+140.0%	-$15K+73.2%	-$56K+49.1%	-$110K+32.1%	-$162K-50.0%	-$108K
Income Tax	$0	N/A	N/A	N/A	$0	N/A	N/A	$0
Net Income	$8.7M-71.2%	$30.3M+419.1%	-$9.5M+8.7%	-$10.4M+0.5%	-$10.5M-136.7%	$28.5M+389.6%	-$9.9M-3.8%	-$9.5M
EPS (Diluted)	$-13.60	N/A	$-6.28+38.8%	$-10.26+98.2%	$-584.45	N/A	$-26.29-888.3%	$-2.66

JAGX Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$38.3M-28.3%	$53.4M+5.2%	$50.8M+7.0%	$47.5M-10.9%	$53.3M+24.3%	$42.8M
Current Assets	$20.3M-36.8%	$32.2M+15.1%	$28.0M+25.3%	$22.3M-21.5%	$28.4M+59.8%	$17.8M
Cash & Equivalents	$968K-87.9%	$8.0M+23.7%	$6.5M+18.3%	$5.5M-67.9%	$17.1M+110.8%	$8.1M
Inventory	$8.6M-16.9%	$10.3M+12.6%	$9.2M+30.8%	$7.0M+43.3%	$4.9M+76.1%	$2.8M
Accounts Receivable	$1.5M-0.4%	$1.5M-22.4%	$2.0M+4.7%	$1.9M+9.9%	$1.7M-18.5%	$2.1M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$57.0M+28.3%	$44.4M-3.1%	$45.9M-6.0%	$48.8M+17.9%	$41.4M+61.5%	$25.6M
Current Liabilities	$40.7M+106.3%	$19.7M+40.9%	$14.0M-53.9%	$30.3M+96.1%	$15.5M+17.0%	$13.2M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$18.7M-387.8%	$6.5M+32.6%	$4.9M+460.3%	-$1.4M-111.5%	$11.9M-31.1%	$17.2M
Retained Earnings	-$399.9M-15.4%	-$346.5M-12.4%	-$308.2M-15.5%	-$266.9M-21.6%	-$219.5M-31.5%	-$166.9M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$37.4M-2.3%	$38.3M-22.5%	$49.5M+2.5%	$48.3M-6.2%	$51.5M-3.7%	$53.4M-8.6%	$58.5M-4.9%	$61.5M
Current Assets	$20.2M-0.7%	$20.3M-30.8%	$29.4M+5.4%	$27.9M-8.3%	$30.4M-5.5%	$32.2M-12.1%	$36.6M-8.6%	$40.1M
Cash & Equivalents	$7.3M+651.9%	$968K-72.6%	$3.5M+59.8%	$2.2M-61.2%	$5.7M-28.9%	$8.0M-39.7%	$13.3M-17.3%	$16.0M
Inventory	$7.8M-9.1%	$8.6M-19.1%	$10.6M-0.8%	$10.7M+1.6%	$10.6M+2.0%	$10.3M+6.9%	$9.7M+1.2%	$9.6M
Accounts Receivable	$68K-95.5%	$1.5M+5.8%	$1.4M+22.5%	$1.2M-4.1%	$1.2M-19.9%	$1.5M+22.3%	$1.2M-3.8%	$1.3M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$53.2M-6.7%	$57.0M+26.4%	$45.1M+9.0%	$41.4M-14.0%	$48.1M+8.3%	$44.4M+3.6%	$42.9M+1.1%	$42.4M
Current Liabilities	$40.7M+0.1%	$40.7M+12.5%	$36.1M+23.6%	$29.2M+3.6%	$28.2M+43.2%	$19.7M-0.9%	$19.9M+3.9%	$19.1M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$15.8M+15.7%	-$18.7M-528.7%	$4.4M-36.6%	$6.9M+728.9%	$830K-87.2%	$6.5M-50.4%	$13.1M-21.0%	$16.6M
Retained Earnings	-$391.1M+2.2%	-$399.9M-6.1%	-$376.9M-2.6%	-$367.4M-2.9%	-$356.9M-3.0%	-$346.5M-2.9%	-$336.6M-3.0%	-$326.7M

JAGX Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$23.7M+19.4%	-$29.4M+11.6%	-$33.2M-0.4%	-$33.1M+5.3%	-$35.0M-128.9%	-$15.3M
Capital Expenditures	N/A	$16K	N/A	$77K+1183.3%	$6K-14.3%	$7K
Free Cash Flow	N/A	-$29.4M	N/A	-$33.2M+5.1%	-$35.0M-128.8%	-$15.3M
Investing Cash Flow	-$41K+82.3%	-$231K	N/A	-$1.7M-27816.7%	-$6K+14.3%	-$7K
Financing Cash Flow	$23.7M-24.1%	$31.2M-8.8%	$34.2M+47.7%	$23.2M-47.2%	$43.9M+125.4%	$19.5M
Dividends Paid	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

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	$8.8M+260.9%	-$5.5M-17.0%	-$4.7M+24.3%	-$6.2M+15.3%	-$7.3M+6.5%	-$7.8M-23.4%	-$6.3M+22.4%	-$8.2M
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	-$7.8M-23.4%	-$6.3M	N/A
Investing Cash Flow	N/A	$13K	N/A	N/A	N/A	-$215K	$0	N/A
Financing Cash Flow	-$6.6M-167.6%	$9.8M+56.4%	$6.3M+135.7%	$2.7M-46.5%	$5.0M+75.5%	$2.8M-19.8%	$3.5M-71.9%	$12.6M
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

JAGX Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	99.2%+15.9pp	83.3%+4.1pp	79.1%-4.0pp	83.1%+36.9pp	46.2%-18.9pp	65.0%
Operating Margin	-398.8%-135.1pp	-263.8%+87.6pp	-351.3%-63.5pp	-287.8%+651.2pp	-939.0%-655.1pp	-283.9%
Net Margin	-0.5%-0.1pp	-0.3%+0.1pp	-0.4%-0.0pp	-0.4%+0.8pp	-1.2%+359.0pp	-360.3%
Return on Equity	N/A	-0.6%+0.3pp	-0.9%	N/A	-0.4%+196.1pp	-196.5%
Return on Assets	-0.1%-0.1pp	-0.1%+0.0pp	-0.1%+0.0pp	-0.1%0.0pp	-0.1%+78.8pp	-78.9%
Current Ratio	0.50-1.1	1.63-0.4	2.00+1.3	0.74-1.1	1.84+0.5	1.35
Debt-to-Equity	-3.05-9.9	6.84-2.5	9.37+45.3	-35.91-39.4	3.49+2.0	1.49
FCF Margin	N/A	-251.5%	N/A	-277.5%+529.3pp	-806.8%-644.0pp	-162.9%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	94.3%-38.1pp	132.4%+49.6pp	82.7%-14.0pp	96.7%+20.0pp	76.7%-7.4pp	84.1%+1.5pp	82.6%-1.7pp	84.3%
Operating Margin	50.2%+706.9pp	-656.6%-421.9pp	-234.8%+34.0pp	-268.8%+156.7pp	-425.5%-193.1pp	-232.5%+1.2pp	-233.7%+30.8pp	-264.5%
Net Margin	43.0%-894.2pp	937.2%+1245.4pp	-308.2%+41.1pp	-349.4%+123.3pp	-472.6%-1285.8pp	813.1%+1130.2pp	-317.1%+31.8pp	-348.8%
Return on Equity	N/A	N/A	-218.0%-66.7pp	-151.3%+1109.5pp	-1260.7%-1700.1pp	439.4%+514.6pp	-75.2%-18.0pp	-57.3%
Return on Assets	23.3%-55.8pp	79.1%+98.3pp	-19.2%+2.4pp	-21.6%-1.2pp	-20.3%-73.7pp	53.4%+70.3pp	-16.9%-1.4pp	-15.4%
Current Ratio	0.500.0	0.50-0.3	0.81-0.1	0.95-0.1	1.08-0.6	1.63-0.2	1.84-0.3	2.10
Debt-to-Equity	-3.38-0.3	-3.05-13.4	10.35+4.3	6.02-52.0	58.01+51.2	6.84+3.6	3.27+0.7	2.56
FCF Margin	N/A	N/A	N/A	N/A	N/A	-223.0%-19.0pp	-204.0%	N/A

Note: Shareholder equity is negative (-$18.7M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

Note: The current ratio is below 1.0 (0.50), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is Jaguar Health Inc's annual revenue?

Jaguar Health Inc (JAGX) reported $11.5M in total revenue for fiscal year 2025. This represents a -1.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Jaguar Health Inc's revenue growing?

Jaguar Health Inc (JAGX) revenue declined by 1.5% year-over-year, from $11.7M to $11.5M in fiscal year 2025.

Is Jaguar Health Inc profitable?

No, Jaguar Health Inc (JAGX) reported a net income of -$54K in fiscal year 2025, with a net profit margin of -0.5%.

What is Jaguar Health Inc's EBITDA?

Jaguar Health Inc (JAGX) had EBITDA of -$44.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Jaguar Health Inc's gross margin?

Jaguar Health Inc (JAGX) had a gross margin of 99.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Jaguar Health Inc's operating margin?

Jaguar Health Inc (JAGX) had an operating margin of -398.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Jaguar Health Inc's net profit margin?

Jaguar Health Inc (JAGX) had a net profit margin of -0.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Jaguar Health Inc's operating cash flow?

Jaguar Health Inc (JAGX) generated -$23.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Jaguar Health Inc's total assets?

Jaguar Health Inc (JAGX) had $38.3M in total assets as of fiscal year 2025, including both current and long-term assets.

How much does Jaguar Health Inc spend on research and development?

Jaguar Health Inc (JAGX) invested $25.0M in research and development during fiscal year 2025.

What is Jaguar Health Inc's current ratio?

Jaguar Health Inc (JAGX) had a current ratio of 0.50 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Jaguar Health Inc's debt-to-equity ratio?

Jaguar Health Inc (JAGX) had a debt-to-equity ratio of -3.05 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Jaguar Health Inc's return on assets (ROA)?

Jaguar Health Inc (JAGX) had a return on assets of -0.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Jaguar Health Inc's cash runway?

Based on fiscal year 2025 data, Jaguar Health Inc (JAGX) had $968K in cash against an annual operating cash burn of $23.7M. This gives an estimated cash runway of approximately 0 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.

Why is Jaguar Health Inc's debt-to-equity ratio negative or unusual?

Jaguar Health Inc (JAGX) has negative shareholder equity of -$18.7M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is Jaguar Health Inc's Piotroski F-Score?

Jaguar Health Inc (JAGX) 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 Jaguar Health Inc's earnings high quality?

Jaguar Health Inc (JAGX) has an earnings quality ratio of 438.63x, 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.

Can Jaguar Health Inc cover its interest payments?

Jaguar Health Inc (JAGX) has an interest coverage ratio of -685.2x, meaning it can struggle to cover its interest obligations. 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.

How financially healthy is Jaguar Health Inc?

Jaguar Health Inc (JAGX) scores 10 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.