Jade Biosciences, Inc. (JBIO) 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 12, 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 10, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the JBIO SEC filings page.
This page shows Jade Biosciences, Inc. (JBIO) 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).
Equity-funded development spending is the dominant mechanic, with operations consuming cash while financing rebuilds the balance sheet.
Cash conversion is unusually transparent: FY2025 operating cash flow was-$94.7M , nearly matching free cash flow of-$94.9M , while net loss reached-$127.4M . That narrow operating-to-free-cash-flow gap indicates limited capital-expenditure burden; the main economic cost is still the research program rather than physical reinvestment.
Research and development rose to
The balance sheet changed through financing rather than operating earnings: FY2025 financing cash flow was
Financial Health Signals
Jade Biosciences, 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.
Jade Biosciences, Inc. passes 3 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.
Jade Biosciences, Inc. reported a net loss of $127.4M while operations used $94.7M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Jade Biosciences, Inc.'s EBITDA was -$58.9M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 112.1% from the same quarter a year earlier. Against the prior quarter it is down 35.6%.
Jade Biosciences, Inc. reported -$55.8M in net income in Q2 2026. This represents a decrease of 73.5% from the same quarter a year earlier. Against the prior quarter it is down 38.1%.
Jade Biosciences, Inc. earned -$0.76 per diluted share (EPS) in Q2 2026. Against the prior quarter it is down 33.3%.
Not reported for Q2 2026.
Cash & Balance Sheet
Jade Biosciences, Inc. held $107.3M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Jade Biosciences, Inc.'s ROE was -12.7% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 3.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.9 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Jade Biosciences, Inc. invested $50.1M in research and development in Q2 2026. This represents an increase of 122.0% from the same quarter a year earlier. Against the prior quarter it is up 38.9%.
Not reported for Q2 2026.
Not reported for Q2 2026.
JBIO 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 |
|---|---|---|---|---|---|---|---|---|
| R&D Expenses | $50.1M+122.0% | $36.1M+80.1% | N/A | $22.0M+62.1% | $22.5M+6.1% | $20.0M-0.3% | N/A | $13.6M-19.6% |
| SG&A Expenses | $8.9M+69.2% | $7.4M+119.9% | N/A | $5.4M+289.5% | $5.2M+6.4% | $3.4M-25.9% | N/A | $1.4M-69.1% |
| Operating Income | -$58.9M-112.1% | -$43.4M-85.8% | N/A | -$27.4M-83.1% | -$27.8M-6.2% | -$23.4M+5.0% | N/A | -$15.0M+30.0% |
| EBITDA | -$58.9M-112.1% | -$43.4M-85.8% | N/A | -$27.4M-85.7% | -$27.8M-6.3% | -$23.4M+4.9% | N/A | -$14.7M+30.9% |
| Income Tax | $15K | $16K | N/A | $0 | $0 | N/A | N/A | $0 |
| Net Income | -$55.8M-73.5% | -$40.4M-5.8% | N/A | -$25.2M-54.7% | -$32.1M-29.7% | -$38.2M-64.6% | N/A | -$16.3M+16.8% |
| EPS (Basic) | -$0.76+11.6% | -$0.57+95.3% | -$0.11+42.1% | -$0.48+90.7% | -$0.860.0% | -$12.10-1357.8% | -$0.19+74.3% | -$5.16-626.8% |
| EPS (Diluted) | -$0.76 | -$0.57 | -$0.11+42.1% | -$0.48 | -$0.860.0% | -$12.10 | -$0.19+74.3% | -$5.16 |
| Diluted Shares (Avg) | 61M | 58M | N/A | 40M | 28M-1.1% | 3M | N/A | 3M |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Interest Expense.
JBIO 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 | $472.1M+110.8% | $319.4M+312.0% | $349.8M+380.5% | $202.4M+122.6% | $224.0M+100.5% | $77.5M-27.4% | $72.8M-42.9% | $91.0M-35.4% |
| Current Assets | $471.3M+111.3% | $318.5M+311.7% | $348.8M+400.8% | $201.4M+122.2% | $223.0M+101.3% | $77.4M-25.1% | $69.7M-43.9% | $90.6M-34.2% |
| Cash & Equivalents | $107.3M-51.5% | $55.1M+24.6% | $88.4M+27.5% | $50.1M+61.0% | $220.9M+611.1% | $44.2M+384.8% | $69.4M+195.4% | $31.1M-3.3% |
| Short-Term Investments | $354.0M | $256.2M+700.9% | $247.7M | $148.8M+158.3% | $0-100.0% | $32.0M-64.5% | $0-100.0% | $57.6M-44.1% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $32.2M+43.7% | $23.0M-85.7% | $17.3M-85.6% | $23.1M-78.6% | $22.4M-80.0% | $161.0M+911.8% | $119.6M+565.8% | $107.8M+611.6% |
| Current Liabilities | $31.6M+46.0% | $22.3M+822.3% | $16.5M+37.9% | $22.4M+116.7% | $21.6M+27.0% | $2.4M-84.4% | $12.0M-32.0% | $10.3M-29.9% |
| Non-Current Liabilities | $628K-20.7% | $679K-99.6% | $724K-99.3% | $747K-99.2% | $792K-99.2% | $158.6M+39655.9% | $107.6M+33007.7% | $97.5M+22682.0% |
| Total Equity | $439.9M+118.3% | $296.5M+455.0% | $332.5M+810.5% | $179.3M+1163.5% | $201.6M+34320.0% | -$83.5M-191.9% | -$46.8M-142.8% | -$16.9M-113.4% |
| Retained Earnings | -$270.5M-130.7% | -$214.8M+8.8% | -$174.4M-271.2% | -$142.5M+37.4% | -$117.3M+44.5% | -$235.6M-26.2% | -$47.0M+71.3% | -$227.6M-59.2% |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
JBIO 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 | -$43.7M-116.6% | -$24.1M-28.4% | -$33.6M-204.6% | -$22.1M-225.3% | -$20.2M+1.3% | -$18.8M+20.8% | -$11.0M+25.4% | -$6.8M+56.4% |
| Depreciation & Amortization | $9K+800.0% | $9K+125.0% | $9K+12.5% | $12K-94.5% | $1K-96.4% | $4K-85.7% | $8K-71.4% | $218K+772.0% |
| Stock-Based Compensation | $13.6M+249.3% | $7.4M+205.6% | N/A | $4.3M+114.4% | $3.9M+0.8% | $2.4M-42.3% | N/A | $2.0M-38.1% |
| Capital Expenditures | N/A | N/A | $3K | $57K | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | -$33.7M | -$22.2M | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$97.6M-651.8% | -$8.5M-165.9% | -$98.2M-847.7% | -$148.7M | -$13.0M-172.1% | $12.8M+45.5% | $13.1M+132.5% | $0+100.0% |
| Financing Cash Flow | $193.5M+1.2% | -$795K-13.6% | $170.2M+30614.8% | $0-100.0% | $191.3M+684.7% | -$700K-248.6% | $554K+19.7% | $94.8M+473760.0% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
JBIO 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 |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | -12.7%+3.3pp | -13.6% | N/A | -14.0% | -15.9% | N/A | N/A | N/A |
| Return on Assets | -11.8%+2.5pp | -12.6%+36.6pp | N/A | -12.4%+5.5pp | -14.3%+7.8pp | -49.2%-27.5pp | N/A | -17.9%-4.0pp |
| Current Ratio | 14.93+4.6x | 14.29-17.7x | 21.09+15.3x | 9.01+0.2x | 10.31+3.8x | 32.01+25.4x | 5.81-1.2x | 8.78-0.6x |
| Debt-to-Equity | 0.070.0x | 0.08 | 0.05 | 0.13 | 0.11 | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Asset Turnover, 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 |
|---|---|---|---|---|---|---|
| Jade Biosciences, Inc. JBIO | FY2025 | N/A | -$127.4M | N/A | $1.1B | — |
| Atea Pharmaceuticals, Inc. AVIR | FY2025 | N/A | -$158.0M | N/A | $425.9M | — |
| RAPT Therapeutics, Inc. RAPT | FY2024 | N/A | -$129.9M | N/A | $1.7B | — |
| Allogene Therapeutics, Inc. ALLO | FY2025 | $0 | -$190.9M | N/A | $615.0M | — |
| Cartesian Therapeutics, Inc. RNAC | FY2025 | $2.8M | -$130.3M | N/A | $247.8M | 45/100 |
| Invivyd, Inc. IVVD | FY2025 | $53.4M | -$52.5M | -98.3% | $231.5M | 68/100 |
Where Jade Biosciences, Inc. Ranks
Frequently Asked Questions
Is Jade Biosciences, Inc. profitable?
No, Jade Biosciences, Inc. (JBIO) reported a net income of -$127.4M in fiscal year 2025.
What is Jade Biosciences, Inc.'s EBITDA?
Jade Biosciences, Inc. (JBIO) had EBITDA of -$113.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Jade Biosciences, Inc.'s return on equity (ROE)?
Jade Biosciences, Inc. (JBIO) has a return on equity of -38.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Jade Biosciences, Inc.'s free cash flow?
Jade Biosciences, Inc. (JBIO) recorded an outflow of $94.9M in free cash flow during fiscal year 2025. 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 Jade Biosciences, Inc.'s operating cash flow?
Jade Biosciences, Inc. (JBIO) recorded an outflow of $94.7M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Jade Biosciences, Inc.'s total assets?
Jade Biosciences, Inc. (JBIO) had $349.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Jade Biosciences, Inc.'s capital expenditures?
Jade Biosciences, Inc. (JBIO) invested $196K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Jade Biosciences, Inc. spend on research and development?
Jade Biosciences, Inc. (JBIO) invested $93.1M in research and development during fiscal year 2025.
What is Jade Biosciences, Inc.'s current ratio?
Jade Biosciences, Inc. (JBIO) had a current ratio of 21.09 as of fiscal year 2025, which is generally considered healthy.
What is Jade Biosciences, Inc.'s debt-to-equity ratio?
Jade Biosciences, Inc. (JBIO) 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 Jade Biosciences, Inc.'s return on assets (ROA)?
Jade Biosciences, Inc. (JBIO) had a return on assets of -36.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Jade Biosciences, Inc.'s P/E ratio?
Jade Biosciences, Inc. (JBIO) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $1.1B as of Sep 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Jade Biosciences, Inc.'s price-to-sales ratio?
Jade Biosciences, Inc. (JBIO) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $1.1B as of Sep 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Jade Biosciences, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Jade Biosciences, Inc. (JBIO) held $336.2M in cash, cash equivalents and investments, and reported an operating cash outflow of $94.7M over that year. Dividing the one by the other, the reported balance equals about 43 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 Jade Biosciences, Inc.'s Piotroski F-Score?
Jade Biosciences, Inc. (JBIO) has a Piotroski F-Score of 3 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 Jade Biosciences, Inc.'s earnings high quality?
Jade Biosciences, Inc. (JBIO) reported a net loss of $127.4M while operations used $94.7M 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.