Keros Therapeutics, Inc. Financials
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Keros Therapeutics, Inc. has an operating margin of -5939.0%, meaning the company retains $-5939 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 up from -112543.7% the prior year.
Keros Therapeutics, Inc.'s revenue surged 2251.0% year-over-year to $3.5M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Keros Therapeutics, Inc. carries a low D/E ratio of 0.08, meaning only $0.08 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 21.45, Keros Therapeutics, Inc. holds $21.45 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
While Keros Therapeutics, Inc. generated -$160.9M in operating cash flow, capex of $1.9M consumed most of it, leaving -$162.8M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Keros Therapeutics, Inc. passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Keros Therapeutics, Inc. generates $0.86 in operating cash flow (-$160.9M OCF vs -$187.4M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
This page shows Keros Therapeutics, Inc. (KROS) 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).
Key Financial Metrics
Keros Therapeutics, Inc. generated $3.5M in revenue in fiscal year 2024. This represents an increase of 2251.0% from the prior year.
Keros Therapeutics, Inc.'s EBITDA was -$209.6M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 23.9% from the prior year.
Keros Therapeutics, Inc. generated -$162.8M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 28.2% from the prior year.
Keros Therapeutics, Inc. reported -$187.4M in net income in fiscal year 2024. This represents a decrease of 22.5% from the prior year.
Keros Therapeutics, Inc. earned $-5.00 per diluted share (EPS) in fiscal year 2024. This represents an increase of 3.8% from the prior year.
Keros Therapeutics, Inc. held $559.9M in cash against $0 in long-term debt as of fiscal year 2024.
Keros Therapeutics, Inc. had 41M shares outstanding in fiscal year 2024. This represents an increase of 27.4% from the prior year.
Keros Therapeutics, Inc.'s operating margin was -5939.0% in fiscal year 2024, reflecting core business profitability. This is up 106604.8 percentage points from the prior year.
Keros Therapeutics, Inc.'s net profit margin was -5277.6% in fiscal year 2024, showing the share of revenue converted to profit. This is up 96041.7 percentage points from the prior year.
Keros Therapeutics, Inc. invested $173.6M in research and development in fiscal year 2024. This represents an increase of 28.4% from the prior year.
Keros Therapeutics, Inc. invested $1.9M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 21.6% from the prior year.
KROS Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $14.1M-22.3% | $18.2M-91.4% | $211.2M+6842.5% | $3.0M+8121.6% | $37K-55.4% | $83K-42.0% | $143K+1687.5% | $8K |
| 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 | $19.5M-55.1% | $43.5M-10.7% | $48.7M+6.7% | $45.6M+12.6% | $40.5M+5.9% | $38.3M+2.0% | $37.5M+9.8% | $34.1M |
| SG&A Expenses | $10.1M-30.1% | $14.5M+38.0% | $10.5M-1.6% | $10.7M+7.1% | $10.0M-3.4% | $10.3M+13.2% | $9.1M-0.5% | $9.1M |
| Operating Income | -$15.4M+61.4% | -$39.8M-126.2% | $152.0M+385.5% | -$53.3M-5.6% | -$50.4M-4.0% | -$48.5M-4.4% | -$46.5M-7.3% | -$43.3M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | $0 | $0 |
| Income Tax | -$1.4M+35.9% | -$2.2M-122.1% | $10.0M+3247.7% | $300K | $0 | $0 | N/A | N/A |
| Net Income | -$7.3M+76.3% | -$30.7M-120.7% | $148.5M+422.5% | -$46.0M-1.7% | -$45.3M-5.0% | -$43.1M-7.1% | -$40.2M-2.0% | -$39.4M |
| EPS (Diluted) | $-0.18+76.3% | $-0.76-121.0% | $3.62+420.4% | $-1.13+9.6% | $-1.25-3.3% | $-1.21+9.7% | $-1.34-0.8% | $-1.33 |
KROS Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $742.8M-1.9% | $757.2M-3.5% | $784.6M+27.4% | $615.9M+35.4% | $455.0M-6.3% | $485.8M+31.3% | $370.0M+13.4% | $326.2M |
| Current Assets | $719.3M-1.8% | $732.8M-3.5% | $759.5M+29.0% | $588.9M+36.1% | $432.7M-6.6% | $463.1M+33.4% | $347.3M+14.1% | $304.4M |
| Cash & Equivalents | $693.5M+0.5% | $690.2M-4.2% | $720.5M+28.7% | $559.9M+38.0% | $405.9M-8.3% | $442.4M+33.6% | $331.1M+15.0% | $287.9M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $3.5M-77.9% | $15.8M-8.5% | $17.3M+530.6% | $2.7M+68450.0% | $4K-98.2% | $226K+58.0% | $143K | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $39.2M-22.3% | $50.4M-9.4% | $55.7M+25.6% | $44.3M+30.0% | $34.1M+7.0% | $31.9M-15.7% | $37.8M+24.4% | $30.4M |
| Current Liabilities | $24.1M-30.6% | $34.7M-11.9% | $39.4M+43.5% | $27.4M+29.2% | $21.2M+13.5% | $18.7M-23.2% | $24.4M+45.9% | $16.7M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $703.6M-0.4% | $706.7M-3.0% | $728.9M+27.5% | $571.6M+35.8% | $420.9M-7.3% | $453.9M+36.6% | $332.2M+12.3% | $295.8M |
| Retained Earnings | -$458.3M-1.6% | -$451.0M-7.3% | -$420.3M+26.1% | -$568.8M-21.1% | -$469.8M-10.7% | -$424.5M-11.3% | -$381.4M-11.8% | -$341.2M |
KROS Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $3.2M+111.0% | -$29.6M-118.4% | $161.2M+450.3% | -$46.0M-15.6% | -$39.8M+10.7% | -$44.6M-75.0% | -$25.5M+25.1% | -$34.0M |
| Capital Expenditures | $132K-81.7% | $720K+27.4% | $565K+95.5% | $289K-6.8% | $310K-67.2% | $946K+74.9% | $541K-1.6% | $550K |
| Free Cash Flow | $3.1M+110.3% | -$30.3M-118.9% | $160.6M+446.9% | -$46.3M-15.4% | -$40.1M+11.9% | -$45.5M-75.0% | -$26.0M+24.7% | -$34.5M |
| Investing Cash Flow | -$132K+81.7% | -$720K-27.4% | -$565K-95.5% | -$289K+6.8% | -$310K+67.2% | -$946K-74.9% | -$541K+1.6% | -$550K |
| Financing Cash Flow | $140K+723.5% | $17K+325.0% | $4K-100.0% | $75.5M+2039.5% | $3.5M-97.7% | $156.8M+126.4% | $69.3M+24285.2% | $284K |
| 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 |
KROS Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | -108.9%+110.2pp | -219.2%-291.2pp | 72.0%+1822.6pp | -1750.6%+134571.0pp | -136321.6%-77908.4pp | -58413.3%-25927.2pp | -32486.0%+508514.0pp | -541000.0% |
| Net Margin | -51.5%+117.4pp | -169.0%-239.3pp | 70.3%+1583.3pp | -1513.0%+120803.2pp | -122316.2%-70371.6pp | -51944.6%-23802.6pp | -28142.0%+464858.0pp | -493000.0% |
| Return on Equity | N/A | N/A | 20.4% | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -1.0%+3.1pp | -4.0%-23.0pp | 18.9%+26.4pp | -7.5%+2.5pp | -10.0%-1.1pp | -8.9%+2.0pp | -10.9%+1.2pp | -12.1% |
| Current Ratio | 29.86+8.7 | 21.11+1.8 | 19.29-2.2 | 21.45+1.1 | 20.37-4.4 | 24.74+10.5 | 14.25-4.0 | 18.23 |
| Debt-to-Equity | 0.06-0.0 | 0.070.0 | 0.080.0 | 0.080.0 | 0.08+0.0 | 0.07-0.0 | 0.11+0.0 | 0.10 |
| FCF Margin | 22.1%+189.1pp | -167.0%-243.1pp | 76.0%+1598.0pp | -1521.9%+106886.2pp | -108408.1%-53581.6pp | -54826.5%-36644.7pp | -18181.8%+413468.2pp | -431650.0% |
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Frequently Asked Questions
What is Keros Therapeutics, Inc.'s annual revenue?
Keros Therapeutics, Inc. (KROS) reported $3.5M in total revenue for fiscal year 2024. This represents a 2251.0% 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 Keros Therapeutics, Inc.'s revenue growing?
Keros Therapeutics, Inc. (KROS) revenue grew by 2251% year-over-year, from $151K to $3.5M in fiscal year 2024.
Is Keros Therapeutics, Inc. profitable?
No, Keros Therapeutics, Inc. (KROS) reported a net income of -$187.4M in fiscal year 2024, with a net profit margin of -5277.6%.
What is Keros Therapeutics, Inc.'s earnings per share (EPS)?
Keros Therapeutics, Inc. (KROS) reported diluted earnings per share of $-5.00 for fiscal year 2024. This represents a 3.8% 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.
What is Keros Therapeutics, Inc.'s EBITDA?
Keros Therapeutics, Inc. (KROS) had EBITDA of -$209.6M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Keros Therapeutics, Inc.'s operating margin?
Keros Therapeutics, Inc. (KROS) had an operating margin of -5939.0% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Keros Therapeutics, Inc.'s net profit margin?
Keros Therapeutics, Inc. (KROS) had a net profit margin of -5277.6% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Keros Therapeutics, Inc.'s free cash flow?
Keros Therapeutics, Inc. (KROS) generated -$162.8M in free cash flow during fiscal year 2024. This represents a -28.2% 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 Keros Therapeutics, Inc.'s operating cash flow?
Keros Therapeutics, Inc. (KROS) generated -$160.9M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Keros Therapeutics, Inc.'s total assets?
Keros Therapeutics, Inc. (KROS) had $615.9M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Keros Therapeutics, Inc.'s capital expenditures?
Keros Therapeutics, Inc. (KROS) invested $1.9M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Keros Therapeutics, Inc. spend on research and development?
Keros Therapeutics, Inc. (KROS) invested $173.6M in research and development during fiscal year 2024.
How many shares does Keros Therapeutics, Inc. have outstanding?
Keros Therapeutics, Inc. (KROS) had 41M shares outstanding as of fiscal year 2024.
What is Keros Therapeutics, Inc.'s current ratio?
Keros Therapeutics, Inc. (KROS) had a current ratio of 21.45 as of fiscal year 2024, which is generally considered healthy.
What is Keros Therapeutics, Inc.'s debt-to-equity ratio?
Keros Therapeutics, Inc. (KROS) had a debt-to-equity ratio of 0.08 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Keros Therapeutics, Inc.'s return on assets (ROA)?
Keros Therapeutics, Inc. (KROS) had a return on assets of -30.4% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Keros Therapeutics, Inc.'s cash runway?
Based on fiscal year 2024 data, Keros Therapeutics, Inc. (KROS) had $559.9M in cash against an annual operating cash burn of $160.9M. This gives an estimated cash runway of approximately 42 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 Keros Therapeutics, Inc.'s Piotroski F-Score?
Keros Therapeutics, Inc. (KROS) has a Piotroski F-Score of 4 out of 9, indicating neutral 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 Keros Therapeutics, Inc.'s earnings high quality?
Keros Therapeutics, Inc. (KROS) has an earnings quality ratio of 0.86x, 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 Keros Therapeutics, Inc.?
Keros Therapeutics, Inc. (KROS) scores 60 out of 100 on our Financial Profile, indicating moderate 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.