Janux Therapeutics, Inc. 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 Sep 2, 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 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the JANX SEC filings page.
Janux Therapeutics, Inc. (JANX) reported $10.0M in revenue for fiscal year 2025, down 5.6% from the prior fiscal year. This page shows its 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).
Janux operates as a development-stage biotech: R&D-led losses consume capital while external financing, not sales, supports the balance sheet.
In FY2025, R&D spending reached$125.9M against$10.0M revenue, making development expense the dominant operating commitment rather than a cost layered onto a scaled commercial base. Operating cash flow was-$82.2M versus FCF of-$83.3M ; their near-equality indicates the cash need is chiefly operating development activity rather than heavy fixed-asset investment.
R&D intensity accelerated: spending rose from
The balance sheet is equity-funded: FY2025 liabilities were
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Janux Therapeutics, 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.
Janux Therapeutics, Inc. held $966.6M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $82.2M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Janux Therapeutics, Inc. scores 96/100 among other emerging companies.
Janux Therapeutics, Inc. had 61M shares outstanding at the end of fiscal year 2025, against 59M in fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Janux Therapeutics, Inc. scores 48/100 among other emerging companies.
Janux Therapeutics, Inc. spent $125.9M on research and development in fiscal year 2025, which was 75.1% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Janux Therapeutics, Inc. scores 94/100 among other emerging companies.
Janux Therapeutics, Inc. reported revenue of $10.0M in fiscal year 2025, against $10.6M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Janux Therapeutics, Inc. scores 63/100 among other emerging companies.
Janux Therapeutics, Inc.'s operations used $82.2M of cash in fiscal year 2025, against $43.8M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Janux Therapeutics, Inc. scores 22/100 among other emerging companies.
Janux Therapeutics, Inc.'s cash, cash equivalents and investments came to $966.6M at the end of fiscal year 2025, against $44.7M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Janux Therapeutics, Inc. scores 100/100 among other emerging companies.
Janux Therapeutics, Inc. scores 15.63, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($1.2B) relative to total liabilities ($44.7M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Janux Therapeutics, Inc. passes 2 of 7 computable financial strength tests (2 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), both operating efficiency signals pass.
Janux Therapeutics, Inc. reported a net loss of $113.6M while operations used $82.2M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Janux Therapeutics, Inc. generated $10.3M in revenue in Q2 2026. Against the prior quarter it is up 175.0%.
Janux Therapeutics, Inc.'s EBITDA was -$31.2M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 29.9% from the same quarter a year earlier. Against the prior quarter it is up 7.5%.
Janux Therapeutics, Inc. reported -$22.0M in net income in Q2 2026. This represents an increase of 35.1% from the same quarter a year earlier. Against the prior quarter it is up 9.8%.
Janux Therapeutics, Inc. earned -$0.35 per diluted share (EPS) in Q2 2026. This represents an increase of 36.4% from the same quarter a year earlier. Against the prior quarter it is up 10.3%.
Cash & Balance Sheet
Janux Therapeutics, Inc. generated $12.3M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 150.6% from the same quarter a year earlier. Against the prior quarter it is up 197.4%.
Janux Therapeutics, Inc. held $27.8M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
Janux Therapeutics, Inc.'s ROE was -2.4% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 1.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.2 percentage points.
Not reported for Q2 2026.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Janux Therapeutics, Inc. invested $31.0M in research and development in Q2 2026. This represents a decrease of 10.6% from the same quarter a year earlier. Against the prior quarter it is up 15.6%.
Janux Therapeutics, Inc. invested $202K in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 57.3% from the same quarter a year earlier. Against the prior quarter it is down 26.0%.
Not reported for Q2 2026.
JANX 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 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $10.3M | $3.7M | N/A | $10.0M+2177.9% | $0-100.0% | $0-100.0% | $0-100.0% | $439K-82.6% |
| R&D Expenses | $31.0M-10.6% | $26.8M+7.0% | N/A | $34.6M+86.0% | $34.7M+132.7% | $25.1M+78.1% | $20.8M+70.0% | $18.6M+56.5% |
| SG&A Expenses | $11.0M+4.9% | $11.1M+13.1% | N/A | $10.6M-39.9% | $10.5M+33.7% | $9.8M+34.0% | $8.2M+29.2% | $17.7M+174.4% |
| Operating Income | -$31.7M+29.8% | -$34.2M+2.0% | N/A | -$35.3M+1.6% | -$45.1M-226.4% | -$34.9M-73.1% | -$29.0M-79.8% | -$35.8M-126.7% |
| EBITDA | -$31.2M+29.9% | -$33.7M+1.8% | N/A | -$34.8M+1.6% | -$44.6M-234.8% | -$34.4M-75.1% | -$28.5M-82.7% | -$35.3M-130.7% |
| Net Income | -$22.0M+35.1% | -$24.4M-3.6% | N/A | -$24.3M+13.4% | -$33.9M-468.2% | -$23.5M-59.3% | -$20.2M-71.9% | -$28.1M-142.6% |
| EPS (Basic) | -$0.35+36.4% | -$0.39-2.6% | -$0.51-45.7% | -$0.39+23.5% | -$0.55-400.0% | -$0.38-26.7% | -$0.35-45.8% | -$0.51-104.0% |
| EPS (Diluted) | -$0.35+36.4% | -$0.39-2.6% | -$0.51-45.7% | -$0.39+23.5% | -$0.55-400.0% | -$0.38-26.7% | -$0.35-45.8% | -$0.51-104.0% |
| Diluted Shares (Avg) | 63M+1.7% | 63M+1.4% | N/A | 62M+13.5% | 62M+13.7% | 62M+26.0% | N/A | 55M+19.5% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, Interest Expense, Income Tax.
JANX 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 | $1.0B-2.4% | $1.0B-2.1% | $1.0B-5.6% | $1.0B+47.4% | $1.0B+49.3% | $1.1B+52.5% | $1.1B+179.0% | $695.0M+79.7% |
| Current Assets | $983.3M-2.2% | $1.0B-2.1% | $975.9M-5.6% | $998.1M+49.8% | $1.0B+51.9% | $1.0B+55.4% | $1.0B+196.0% | $666.3M+87.6% |
| Cash & Equivalents | $27.8M-47.1% | $51.8M-29.7% | $52.3M-87.8% | $48.4M+80.9% | $52.4M+257.7% | $73.7M-65.3% | $430.6M+2142.2% | $26.8M+56.0% |
| Short-Term Investments | $943.1M0.0% | $904.6M-3.8% | $914.2M+53.8% | $940.6M+49.0% | $943.6M+49.4% | $940.4M+114.2% | $594.6M+83.0% | $631.3M+89.8% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $79.7M+91.1% | $86.7M+126.3% | $44.7M+15.5% | $48.2M+23.9% | $41.7M+23.6% | $38.3M+15.3% | $38.7M+7.4% | $38.9M+2.7% |
| Current Liabilities | $60.2M+181.4% | $58.9M+236.6% | $25.0M+43.2% | $27.8M+62.1% | $21.4M+85.2% | $17.5M+65.0% | $17.5M+34.0% | $17.2M+18.7% |
| Non-Current Liabilities | $19.5M-3.9% | $27.8M+33.5% | $19.7M-7.2% | $20.4M-6.3% | $20.3M-8.4% | $20.8M-8.0% | $21.3M-7.6% | $21.7M-7.2% |
| Total Equity | $928.0M-6.3% | $941.5M-7.0% | $956.8M-6.4% | $976.6M+48.8% | $990.5M+50.6% | $1.0B+54.4% | $1.0B+197.0% | $656.1M+88.0% |
| Retained Earnings | -$397.7M-34.8% | -$375.7M-43.8% | -$351.4M-47.8% | -$319.4M-46.8% | -$295.1M-55.8% | -$261.3M-42.4% | -$237.8M-40.9% | -$217.5M-38.6% |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
JANX 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 | $12.5M+152.4% | -$12.3M+27.5% | -$28.5M-70.7% | -$12.9M-476.2% | -$23.8M-137.6% | -$17.0M-14.7% | -$16.7M-68.9% | -$2.2M+80.9% |
| Depreciation & Amortization | $463K-14.4% | $469K-9.6% | $468K-8.6% | $501K-1.8% | $541K+6.9% | $519K-2.4% | $512K-3.6% | $510K+2.0% |
| Stock-Based Compensation | $9.1M-17.3% | $9.3M-13.4% | N/A | $9.0M-41.2% | $11.0M+90.4% | $10.7M+90.3% | N/A | $15.4M+238.3% |
| Capital Expenditures | $202K-57.3% | $273K-26.4% | $106K+152.4% | $93K+272.0% | $473K+397.9% | $371K+88.3% | $42K-91.8% | $25K-94.7% |
| Free Cash Flow | $12.3M+150.6% | -$12.6M+27.5% | -$28.6M-70.9% | -$12.9M-474.0% | -$24.3M-140.1% | -$17.4M-15.7% | -$16.8M-61.0% | -$2.3M+81.5% |
| Investing Cash Flow | -$38.8M-2583.0% | $8.3M+102.4% | $29.5M-12.9% | $8.3M-34.5% | $1.6M+100.8% | -$340.4M-199.3% | $33.9M+205.0% | $12.7M+120.6% |
| Financing Cash Flow | $2.2M+134.8% | $3.5M+539.9% | $2.9M-99.2% | $493K-70.1% | $954K-65.5% | $554K-99.8% | $386.6M+46428.3% | $1.6M-97.1% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
JANX 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 |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | -308.7% | -916.5% | N/A | -352.5% | N/A | N/A | N/A | -8164.5% |
| Net Margin | -214.0% | -652.6% | N/A | -243.1% | N/A | N/A | N/A | -6391.6% |
| Return on Equity | -2.4%+1.1pp | -2.6%-0.3pp | N/A | -2.5%+1.8pp | -3.4%-2.5pp | -2.3%-0.1pp | -2.0%+1.4pp | -4.3%-1.0pp |
| Return on Assets | -2.2%+1.1pp | -2.4%-0.1pp | N/A | -2.4%+1.7pp | -3.3%-2.4pp | -2.2%-0.1pp | -1.9%+1.2pp | -4.0%-1.0pp |
| Current Ratio | 16.35-30.7x | 17.01-41.5x | 39.04-20.2x | 35.86-2.9x | 47.03-10.3x | 58.47-3.6x | 59.21+32.4x | 38.80+14.3x |
| Debt-to-Equity | 0.090.0x | 0.09+0.1x | 0.050.0x | 0.050.0x | 0.040.0x | 0.040.0x | 0.04-0.1x | 0.060.0x |
| Asset Turnover | 0.010.0x | 0.000.0x | N/A | 0.010.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x |
| FCF Margin | 119.6% | -337.8% | N/A | -129.5% | N/A | N/A | N/A | -513.9% |
Not reported in any period shown, so not listed: Gross Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, 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 |
|---|---|---|---|---|---|---|
| Janux Therapeutics, Inc. JANX | FY2025 | $10.0M | -$113.6M | N/A | $1.2B | 71/100 |
| Cidara Theraptcs CDTX | FY2024 | $1.3M | -$169.8M | N/A | $7.0B | 48/100 |
| Viridian Therapeutics Inc VRDN | FY2025 | $70.8M | -$342.6M | N/A | $2.6B | 60/100 |
| Vera Therapeutics, Inc. VERA | FY2025 | N/A | -$299.6M | N/A | $2.5B | — |
| Biohaven BHVN | FY2025 | N/A | -$738.8M | N/A | $2.3B | — |
| Edgewise Therapeutics, Inc. EWTX | FY2025 | N/A | -$168K | N/A | $4.5B | — |
Where Janux Therapeutics, Inc. Ranks
Frequently Asked Questions
What is Janux Therapeutics, Inc.'s annual revenue?
Janux Therapeutics, Inc. (JANX) reported $10.0M in total revenue for fiscal year 2025. This represents a -5.6% 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 Janux Therapeutics, Inc.'s revenue growing?
Janux Therapeutics, Inc. (JANX) revenue declined by 5.6% year-over-year, from $10.6M to $10.0M in fiscal year 2025.
Is Janux Therapeutics, Inc. profitable?
No, Janux Therapeutics, Inc. (JANX) reported a net income of -$113.6M in fiscal year 2025.
What is Janux Therapeutics, Inc.'s EBITDA?
Janux Therapeutics, Inc. (JANX) had EBITDA of -$155.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Janux Therapeutics, Inc.'s return on equity (ROE)?
Janux Therapeutics, Inc. (JANX) has a return on equity of -11.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Janux Therapeutics, Inc.'s free cash flow?
Janux Therapeutics, Inc. (JANX) recorded an outflow of $83.3M in free cash flow during fiscal year 2025. This represents a -88.5% 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 Janux Therapeutics, Inc.'s operating cash flow?
Janux Therapeutics, Inc. (JANX) recorded an outflow of $82.2M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Janux Therapeutics, Inc.'s total assets?
Janux Therapeutics, Inc. (JANX) had $1.0B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Janux Therapeutics, Inc.'s capital expenditures?
Janux Therapeutics, Inc. (JANX) invested $1.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Janux Therapeutics, Inc. spend on research and development?
Janux Therapeutics, Inc. (JANX) invested $125.9M in research and development during fiscal year 2025.
What is Janux Therapeutics, Inc.'s current ratio?
Janux Therapeutics, Inc. (JANX) had a current ratio of 39.04 as of fiscal year 2025, which is generally considered healthy.
What is Janux Therapeutics, Inc.'s debt-to-equity ratio?
Janux Therapeutics, Inc. (JANX) had a debt-to-equity ratio of 0.05 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Janux Therapeutics, Inc.'s return on assets (ROA)?
Janux Therapeutics, Inc. (JANX) had a return on assets of -11.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Janux Therapeutics, Inc.'s P/E ratio?
Janux Therapeutics, Inc. (JANX) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $1.2B as of Sep 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Janux Therapeutics, Inc.'s price-to-sales ratio?
Janux Therapeutics, Inc. (JANX) trades at 115x sales, its market capitalization divided by revenue of $10.0M revenue, FY2025. The market capitalization is $1.2B as of Sep 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Janux Therapeutics, Inc.'s Altman Z-Score?
Janux Therapeutics, Inc. (JANX) has an Altman Z-Score of 15.63, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Janux Therapeutics, Inc.'s Piotroski F-Score?
Janux Therapeutics, Inc. (JANX) has a Piotroski F-Score of 2 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 Janux Therapeutics, Inc.'s earnings high quality?
Janux Therapeutics, Inc. (JANX) reported a net loss of $113.6M while operations used $82.2M 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.
How financially healthy is Janux Therapeutics, Inc.?
Janux Therapeutics, Inc. (JANX) scores 71 out of 100 on our Financial Health Score, indicating strong standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.