What is Pasithea Therapeutics Corp's earnings per share (EPS)?

Pasithea Therapeutics Corp (KTTA) reported diluted earnings per share of $-2.91 for fiscal year 2025. 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.

Pasithea Therapeutics Corp Financials

KTTA

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

This page shows Pasithea Therapeutics Corp (KTTA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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 KTTA FY2025 2026-05-15

Pasithea’s business mechanic is external funding of sustained operating burn, with cash strength created by financing rather than revenue.

FY2025 ended with cash of $55.2M after a financing inflow of $63.5M, so the stronger balance sheet was built by external capital rather than operations. That cash infusion even made return on assets look better at -33.9% despite a wider net loss of -$20.4M than FY2024, a reminder that ratio improvement here reflects a bigger denominator, not a more efficient business.

The company’s losses are mostly cash losses: FY2025 operating cash outflow of -$15.2M was fairly close to the -$20.4M net loss, so reported losses broadly reflect real cash consumption. Depreciation and amortization were just $32K against an operating loss of -$20.9M, which points to an asset-light cost structure where spending is concentrated in people, programs, and overhead.

Spending mix tilted toward overhead more than research in FY2025, with SG&A at $12.9M and R&D at $8.0M; that means burn is not coming only from development activity. At the same time, liquidity is cash-heavy: current liabilities were $5.0M against cash of $55.2M, showing a company financed mainly by equity capital rather than by creditor pressure.

Financial Health Signals

Financial health score pending refresh

We are recalculating Pasithea Therapeutics Corp's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Piotroski F-Score Partial

3/6

Pasithea Therapeutics Corp 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.

Earnings Quality Low Quality

0.74x

For every $1 of reported earnings, Pasithea Therapeutics Corp generates $0.74 in operating cash flow (-$15.2M OCF vs -$20.4M 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

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Earnings & Revenue

Revenue

N/A

EBITDA

-$20.8M

YoY-46.3%

Pasithea Therapeutics Corp's EBITDA was -$20.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 46.3% from the prior year.

Net Income

-$20.4M

YoY-46.9%

Pasithea Therapeutics Corp reported -$20.4M in net income in fiscal year 2025. This represents a decrease of 46.9% from the prior year.

EPS (Diluted)

$-2.91

Pasithea Therapeutics Corp earned $-2.91 per diluted share (EPS) in fiscal year 2025.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$55.2M

YoY+696.8%

Pasithea Therapeutics Corp held $55.2M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

23M

Pasithea Therapeutics Corp had 23M shares outstanding in fiscal year 2025.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-37.0%

YoY+57.1pp

Pasithea Therapeutics Corp's ROE was -37.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 57.1 percentage points from the prior year.

Capital Allocation

R&D Spending

$8.0M

YoY+10.9%

Pasithea Therapeutics Corp invested $8.0M in research and development in fiscal year 2025. This represents an increase of 10.9% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

KTTA Income Statement

Metric	FY25	FY24	FY23	FY22	FY21
Revenue	N/A	N/A	N/A	$487K+3130.4%	$15K
Cost of Revenue	N/A	N/A	N/A	$113K+555.3%	$17K
Gross Profit	N/A	N/A	N/A	$373K+16971.4%	-$2K
R&D Expenses	$8.0M+10.9%	$7.2M-11.1%	$8.1M+203.9%	$2.7M	N/A
SG&A Expenses	$12.9M+82.6%	$7.1M-10.5%	$7.9M-20.6%	$9.9M+120.3%	$4.5M
Operating Income	-$20.9M-46.4%	-$14.2M+10.8%	-$16.0M-26.9%	-$12.6M-179.3%	-$4.5M
Interest Expense	N/A	N/A	N/A	$102-79.9%	$508
Income Tax	N/A	N/A	N/A	N/A	N/A
Net Income	-$20.4M-46.9%	-$13.9M+12.9%	-$16.0M-14.5%	-$13.9M-541.2%	-$2.2M
EPS (Diluted)	$-2.91	$-12.69-2921.4%	$-0.42+76.1%	$-1.76-738.1%	$-0.21

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
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	$2.9M	N/A	$1.4M-36.8%	$2.1M+24.2%	$1.7M	N/A	$1.6M-32.9%	$2.4M
SG&A Expenses	$1.9M	N/A	$1.8M+5.4%	$1.7M-14.8%	$2.0M	N/A	$1.4M-10.3%	$1.6M
Operating Income	-$4.9M	N/A	-$3.1M+18.4%	-$3.8M-3.6%	-$3.7M	N/A	-$3.0M+23.8%	-$3.9M
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	-$2.9M	N/A	-$3.0M+18.3%	-$3.7M-4.3%	-$3.6M	N/A	-$3.0M+22.4%	-$3.9M
EPS (Diluted)	$-0.12	N/A	$-0.41+37.9%	$-0.66+59.0%	$-1.61	N/A	$-2.87+22.6%	$-3.71

KTTA Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21
Total Assets	$60.2M+275.0%	$16.1M-38.5%	$26.1M-42.2%	$45.2M-15.3%	$53.3M
Current Assets	$56.5M+666.2%	$7.4M-55.9%	$16.7M-51.0%	$34.1M-36.1%	$53.3M
Cash & Equivalents	$55.2M+696.8%	$6.9M-57.6%	$16.3M-50.6%	$33.1M-37.5%	$53.0M
Inventory	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	$1.3M0.0%	$1.3M0.0%	$1.3M	N/A
Total Liabilities	$5.0M+291.6%	$1.3M-52.8%	$2.7M+1.4%	$2.7M+41.1%	$1.9M
Current Liabilities	$5.0M+344.2%	$1.1M-57.5%	$2.6M+40.3%	$1.9M+319.8%	$447K
Long-Term Debt	N/A	N/A	N/A	N/A	N/A
Total Equity	$55.2M+273.5%	$14.8M-36.8%	$23.4M-44.9%	$42.5M-17.4%	$51.4M
Retained Earnings	-$70.0M-41.2%	-$49.6M-40.4%	-$35.3M-82.5%	-$19.4M-774.1%	-$2.2M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$56.4M-6.4%	$60.2M+341.9%	$13.6M-19.9%	$17.0M+16.0%	$14.7M-8.8%	$16.1M-13.8%	$18.6M+5.5%	$17.7M
Current Assets	$52.7M-6.6%	$56.5M+921.1%	$5.5M-36.0%	$8.6M+41.0%	$6.1M-16.9%	$7.4M-24.6%	$9.8M+13.1%	$8.6M
Cash & Equivalents	$50.4M-8.6%	$55.2M+1237.9%	$4.1M-42.9%	$7.2M+35.1%	$5.3M-22.8%	$6.9M-26.0%	$9.4M+17.5%	$8.0M
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	N/A	N/A
Goodwill	N/A	N/A	$1.3M0.0%	$1.3M0.0%	$1.3M0.0%	$1.3M0.0%	$1.3M0.0%	$1.3M
Total Liabilities	$1.5M-69.3%	$5.0M+252.6%	$1.4M-22.2%	$1.8M+9.0%	$1.7M+31.1%	$1.3M+55.6%	$824K-44.6%	$1.5M
Current Liabilities	$1.5M-70.1%	$5.0M+261.2%	$1.4M-20.7%	$1.7M+8.9%	$1.6M+42.4%	$1.1M+69.6%	$660K-52.7%	$1.4M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$54.8M-0.7%	$55.2M+352.4%	$12.2M-19.6%	$15.2M+16.9%	$13.0M-12.2%	$14.8M-17.0%	$17.8M+10.1%	$16.2M
Retained Earnings	-$72.9M-4.1%	-$70.0M-16.9%	-$59.9M-5.3%	-$56.9M-7.0%	-$53.1M-7.2%	-$49.6M-6.8%	-$46.4M-7.8%	-$43.0M

KTTA Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21
Operating Cash Flow	-$15.2M-9.3%	-$13.9M-8.7%	-$12.8M+12.0%	-$14.6M-358.8%	-$3.2M
Capital Expenditures	N/A	N/A	$34K-68.0%	$107K+398.1%	$22K
Free Cash Flow	N/A	N/A	-$12.8M+12.4%	-$14.7M-359.0%	-$3.2M
Investing Cash Flow	$11K	N/A	N/A	-$2.1M-9487.2%	-$22K
Financing Cash Flow	$63.5M+1306.0%	$4.5M	N/A	-$3.2M-105.7%	$55.9M
Dividends Paid	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	$3.7M	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$4.8M+11.3%	-$5.4M-86.7%	-$2.9M+25.3%	-$3.9M-26.6%	-$3.1M-25.1%	-$2.4M+21.7%	-$3.1M+22.7%	-$4.0M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	$750-100.0%	$56.4M+48678.6%	-$116K-102.0%	$5.7M+289.3%	$1.5M+6360.3%	-$24K	N/A	N/A
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

KTTA Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21
Gross Margin	N/A	N/A	N/A	76.7%+91.4pp	-14.7%
Operating Margin	N/A	N/A	N/A	-2587.3%+27338.4pp	-29925.7%
Net Margin	N/A	N/A	N/A	-2864.3%+11566.2pp	-14430.5%
Return on Equity	-37.0%+57.1pp	-94.1%-25.8pp	-68.2%-35.4pp	-32.8%-28.6pp	-4.2%
Return on Assets	-33.9%+52.6pp	-86.6%-25.4pp	-61.1%-30.3pp	-30.9%-26.8pp	-4.1%
Current Ratio	11.35+4.8	6.58+0.2	6.34-11.8	18.15-101.0	119.17
Debt-to-Equity	0.090.0	0.09-0.0	0.12+0.1	0.06+0.0	0.04
FCF Margin	N/A	N/A	N/A	-3014.8%+18201.2pp	-21216.1%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	-5.2%	N/A	-24.9%-0.4pp	-24.5%+3.0pp	-27.5%	N/A	-16.8%+7.1pp	-23.9%
Return on Assets	-5.1%	N/A	-22.3%-0.4pp	-21.9%+2.5pp	-24.3%	N/A	-16.1%+5.8pp	-21.9%
Current Ratio	35.40+24.1	11.35+7.3	4.02-1.0	4.97+1.1	3.84-2.7	6.58-8.2	14.81+8.6	6.20
Debt-to-Equity	0.03-0.1	0.09-0.0	0.120.0	0.120.0	0.13+0.0	0.09+0.0	0.05-0.0	0.09
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

Is Pasithea Therapeutics Corp profitable?

No, Pasithea Therapeutics Corp (KTTA) reported a net income of -$20.4M in fiscal year 2025.

What is Pasithea Therapeutics Corp's EBITDA?

Pasithea Therapeutics Corp (KTTA) had EBITDA of -$20.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Pasithea Therapeutics Corp's return on equity (ROE)?

Pasithea Therapeutics Corp (KTTA) has a return on equity of -37.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Pasithea Therapeutics Corp's operating cash flow?

Pasithea Therapeutics Corp (KTTA) generated -$15.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Pasithea Therapeutics Corp's total assets?

Pasithea Therapeutics Corp (KTTA) had $60.2M in total assets as of fiscal year 2025, including both current and long-term assets.

How much does Pasithea Therapeutics Corp spend on research and development?

Pasithea Therapeutics Corp (KTTA) invested $8.0M in research and development during fiscal year 2025.

How many shares does Pasithea Therapeutics Corp have outstanding?

Pasithea Therapeutics Corp (KTTA) had 23M shares outstanding as of fiscal year 2025.

What is Pasithea Therapeutics Corp's current ratio?

Pasithea Therapeutics Corp (KTTA) had a current ratio of 11.35 as of fiscal year 2025, which is generally considered healthy.

What is Pasithea Therapeutics Corp's debt-to-equity ratio?

Pasithea Therapeutics Corp (KTTA) had a debt-to-equity ratio of 0.09 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Pasithea Therapeutics Corp's return on assets (ROA)?

Pasithea Therapeutics Corp (KTTA) had a return on assets of -33.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Pasithea Therapeutics Corp's cash runway?

Based on fiscal year 2025 data, Pasithea Therapeutics Corp (KTTA) had $55.2M in cash against an annual operating cash burn of $15.2M. This gives an estimated cash runway of approximately 44 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 Pasithea Therapeutics Corp's Piotroski F-Score?

Pasithea Therapeutics Corp (KTTA) 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 Pasithea Therapeutics Corp's earnings high quality?

Pasithea Therapeutics Corp (KTTA) has an earnings quality ratio of 0.74x, 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.