Janux Therapeutics, Inc. Financials
This page shows Janux Therapeutics, Inc. (JANX) 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).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Janux Therapeutics, Inc. has an operating margin of -1576.7%, meaning the company retains $-1577 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 -933.6% the prior year.
Janux Therapeutics, Inc.'s revenue declined 5.6% year-over-year, from $10.6M to $10.0M. This contraction results in a growth score of 24/100.
Janux Therapeutics, Inc. carries a low D/E ratio of 0.05, meaning only $0.05 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 39.04, Janux Therapeutics, Inc. holds $39.04 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
While Janux Therapeutics, Inc. generated -$82.2M in operating cash flow, capex of $1.0M consumed most of it, leaving -$83.3M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Janux Therapeutics, Inc. generates a -11.9% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -6.8% the prior year.
Janux Therapeutics, Inc. passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Janux Therapeutics, Inc. generates $0.72 in operating cash flow (-$82.2M OCF vs -$113.6M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Janux Therapeutics, Inc. generated $10.0M in revenue in fiscal year 2025. This represents a decrease of 5.6% from the prior year.
Janux Therapeutics, Inc.'s EBITDA was -$155.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 60.8% from the prior year.
Janux Therapeutics, Inc. reported -$113.6M in net income in fiscal year 2025. This represents a decrease of 64.7% from the prior year.
Janux Therapeutics, Inc. earned $-1.83 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 43.0% from the prior year.
Cash & Balance Sheet
Janux Therapeutics, Inc. generated -$83.3M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 88.5% from the prior year.
Janux Therapeutics, Inc. held $52.3M in cash against $0 in long-term debt as of fiscal year 2025.
Janux Therapeutics, Inc. had 60M shares outstanding in fiscal year 2025. This represents an increase of 2.2% from the prior year.
Margins & Returns
Janux Therapeutics, Inc.'s operating margin was -1576.7% in fiscal year 2025, reflecting core business profitability. This is down 643.1 percentage points from the prior year.
Janux Therapeutics, Inc.'s net profit margin was -1136.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 484.6 percentage points from the prior year.
Janux Therapeutics, Inc.'s ROE was -11.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 5.1 percentage points from the prior year.
Capital Allocation
Janux Therapeutics, Inc. invested $125.9M in research and development in fiscal year 2025. This represents an increase of 84.1% from the prior year.
Janux Therapeutics, Inc. invested $1.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 190.5% from the prior year.
JANX Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | $10.0M | $0 | $0 | $0-100.0% | $439K-95.1% | $8.9M+610.6% | $1.3M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | $34.6M-0.1% | $34.7M+38.4% | $25.1M+20.4% | $20.8M+11.8% | $18.6M+24.9% | $14.9M+5.9% | $14.1M |
| SG&A Expenses | N/A | $10.6M+1.6% | $10.5M+6.2% | $9.8M+19.8% | $8.2M-53.5% | $17.7M+125.9% | $7.8M+6.5% | $7.3M |
| Operating Income | N/A | -$35.3M+21.9% | -$45.1M-29.3% | -$34.9M-20.2% | -$29.0M+19.0% | -$35.8M-159.3% | -$13.8M+31.4% | -$20.2M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | N/A | -$24.3M+28.2% | -$33.9M-44.0% | -$23.5M-16.3% | -$20.2M+28.0% | -$28.1M-370.9% | -$6.0M+59.6% | -$14.8M |
| EPS (Diluted) | N/A | $-0.39+29.1% | $-0.55-44.7% | $-0.38 | N/A | $-0.51-363.6% | $-0.11+63.3% | $-0.30 |
JANX Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.0B-2.3% | $1.0B-0.7% | $1.0B-1.8% | $1.1B-1.0% | $1.1B+52.7% | $695.0M+0.5% | $691.4M+0.4% | $689.0M |
| Current Assets | $975.9M-2.2% | $998.1M-0.7% | $1.0B-1.7% | $1.0B-1.0% | $1.0B+55.1% | $666.3M+0.7% | $661.9M+0.5% | $658.7M |
| Cash & Equivalents | $52.3M+8.2% | $48.4M-7.7% | $52.4M-28.9% | $73.7M-82.9% | $430.6M+1509.5% | $26.8M+82.5% | $14.7M-93.1% | $212.8M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | $7.5M+1345.1% | $519K |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $44.7M-7.2% | $48.2M+15.6% | $41.7M+8.9% | $38.3M-1.1% | $38.7M-0.5% | $38.9M+15.4% | $33.7M+1.5% | $33.2M |
| Current Liabilities | $25.0M-10.2% | $27.8M+30.2% | $21.4M+22.2% | $17.5M+0.2% | $17.5M+1.7% | $17.2M+48.7% | $11.5M+8.8% | $10.6M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $956.8M-2.0% | $976.6M-1.4% | $990.5M-2.2% | $1.0B-1.0% | $1.0B+55.9% | $656.1M-0.2% | $657.7M+0.3% | $655.8M |
| Retained Earnings | -$351.4M-10.0% | -$319.4M-8.2% | -$295.1M-13.0% | -$261.3M-9.9% | -$237.8M-9.3% | -$217.5M-14.8% | -$189.5M-3.2% | -$183.5M |
JANX Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$28.5M-122.0% | -$12.9M+46.0% | -$23.8M-39.9% | -$17.0M-1.8% | -$16.7M-649.7% | -$2.2M+77.7% | -$10.0M+32.5% | -$14.8M |
| Capital Expenditures | $106K+14.0% | $93K-80.3% | $473K+27.5% | $371K+783.3% | $42K+68.0% | $25K-73.7% | $95K-51.8% | $197K |
| Free Cash Flow | -$28.6M-121.2% | -$12.9M+46.7% | -$24.3M-39.6% | -$17.4M-3.7% | -$16.8M-643.2% | -$2.3M+77.7% | -$10.1M+32.7% | -$15.0M |
| Investing Cash Flow | $29.5M+255.7% | $8.3M+431.8% | $1.6M+100.5% | -$340.4M-1103.3% | $33.9M+167.7% | $12.7M+106.6% | -$190.9M-67.8% | -$113.7M |
| Financing Cash Flow | $2.9M+497.2% | $493K-48.3% | $954K+72.2% | $554K-99.9% | $386.6M+23347.5% | $1.6M-40.4% | $2.8M-99.1% | $322.2M |
| 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 |
JANX Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | -352.5% | N/A | N/A | N/A | -8164.5%-8009.1pp | -155.4%+1454.9pp | -1610.3% |
| Net Margin | N/A | -243.1% | N/A | N/A | N/A | -6391.6%-6324.6pp | -67.0%+1111.9pp | -1178.9% |
| Return on Equity | N/A | -2.5%+0.9pp | -3.4%-1.1pp | -2.3%-0.3pp | -2.0%+2.3pp | -4.3%-3.4pp | -0.9%+1.3pp | -2.3% |
| Return on Assets | N/A | -2.4%+0.9pp | -3.3%-1.0pp | -2.2%-0.3pp | -1.9%+2.1pp | -4.0%-3.2pp | -0.9%+1.3pp | -2.1% |
| Current Ratio | 39.04+3.2 | 35.86-11.2 | 47.03-11.4 | 58.47-0.7 | 59.21+20.4 | 38.80-18.5 | 57.34-4.8 | 62.09 |
| Debt-to-Equity | 0.050.0 | 0.050.0 | 0.040.0 | 0.040.0 | 0.04-0.0 | 0.060.0 | 0.050.0 | 0.05 |
| FCF Margin | N/A | -129.5% | N/A | N/A | N/A | -513.9%-400.2pp | -113.7%+1087.1pp | -1200.8% |
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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, with a net profit margin of -1136.3%.
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 operating margin?
Janux Therapeutics, Inc. (JANX) had an operating margin of -1576.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Janux Therapeutics, Inc.'s net profit margin?
Janux Therapeutics, Inc. (JANX) had a net profit margin of -1136.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
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) generated -$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) generated -$82.2M in operating cash flow during fiscal year 2025, representing cash generated from 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 cash runway?
Based on fiscal year 2025 data, Janux Therapeutics, Inc. (JANX) had $52.3M in cash against an annual operating cash burn of $82.2M. This gives an estimated cash runway of approximately 8 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.
What is Janux Therapeutics, Inc.'s Piotroski F-Score?
Janux Therapeutics, Inc. (JANX) 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 7–9 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) has an earnings quality ratio of 0.72x, 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.
How financially healthy is Janux Therapeutics, Inc.?
Janux Therapeutics, Inc. (JANX) scores 37 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.