LIPELLA PHARMS INC (LIPO) Financials
Newest figures come from the 10-Q for Q3 FY2025, filed Nov 14, 2025. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the LIPO SEC filings page.
LIPELLA PHARMS INC (LIPO) reported $536K in revenue for fiscal year 2024, up 19.3% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 4 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).
Lipella remains a development-stage business: research spending vastly exceeds revenue, and operations still require outside financing.
Revenue rose19.3% from FY2023 to FY2024, but operating cash flow was still-$3.95M . With a net loss of$5.02M , the larger sales base has not yet made operations self-funded.
R&D spending was
Financing cash flow of
Financial Health Signals
LIPELLA PHARMS 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.
LIPELLA PHARMS INC passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, the one computable operating efficiency signal (asset turnover improving) passes.
LIPELLA PHARMS INC reported a net loss of $5.0M while operations used $4.0M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
LIPELLA PHARMS INC's EBITDA was -$1.3M in Q3 2025, measuring earnings before interest, taxes, depreciation, and amortization. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
LIPELLA PHARMS INC reported a net loss of $1.3M in Q3 2025. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
LIPELLA PHARMS INC earned -$0.28 per diluted share (EPS) in Q3 2025. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Not reported for Q3 2025.
Cash & Balance Sheet
LIPELLA PHARMS INC held $1.9M in cash as of Q3 2025; no long-term debt figure is on record for that period.
Not reported for Q3 2025.
Not reported for Q3 2025.
Margins & Returns
LIPELLA PHARMS INC's quarterly ROE was -84.3% in Q3 2025: one quarter's net income over shareholder equity, not annualized. This is up 14.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 35.9 percentage points.
Not reported for Q3 2025.
Not reported for Q3 2025.
Not reported for Q3 2025.
Capital Allocation
LIPELLA PHARMS INC invested $721K in research and development in Q3 2025. This represents a decrease of 31.1% from the same quarter a year earlier. Against the prior quarter it is down 8.9%.
Not reported for Q3 2025.
Not reported for Q3 2025.
LIPO 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 | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | $87K-36.4% | $129K-11.3% | $174K+43.7% | $80K-22.7% | $136K+27.9% | $146K+23.6% | $121K |
| R&D Expenses | $721K-31.1% | $792K+19.7% | $993K+17.9% | $1.1M+133.9% | $1.0M+25.6% | $662K-37.4% | $843K+21.5% | $454K |
| SG&A Expenses | $553K+12.2% | $652K+52.6% | $464K-11.0% | $563K+42.0% | $493K-21.4% | $427K-31.6% | $521K+2.4% | $396K |
| Operating Income | -$1.3Mn/m | -$1.4Mn/m | -$1.3Mn/m | -$1.5Mn/m | -$1.5Mn/m | -$952Kn/m | -$1.2Mn/m | -$730K |
| EBITDA | -$1.3Mn/m | -$1.4Mn/m | -$1.3Mn/m | -$1.5M | -$1.5M | -$951K | -$1.2M | N/A |
| Net Income | -$1.3Mn/m | -$1.3Mn/m | -$1.3Mn/m | -$1.4Mn/m | -$1.4Mn/m | -$938Kn/m | -$1.2Mn/m | -$689K |
| EPS (Basic) | -$0.28 | -$0.31 | -$0.64 | -$1.19 | -$1.29 | -$0.99 | -$1.31 | -$0.09n/m |
| EPS (Diluted) | -$0.28 | -$0.31 | -$0.64 | -$1.19 | -$1.29 | -$0.99 | -$1.31 | -$0.09n/m |
| Diluted Shares (Avg) | 5M | 4M | 2M | N/A | 1M | 950,669 | 911,515 | N/A |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, Interest Expense, Income Tax.
LIPO 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 | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.3M+8.8% | $3.7M+70.3% | $4.9M+54.8% | $2.7M-25.3% | $2.2M-24.0% | $2.2M-37.4% | $3.1M-32.0% | $3.6M-39.9% |
| Current Assets | $2.1M0.0% | $3.4M+65.2% | $4.8M+60.2% | $2.6M-23.7% | $2.1M-22.1% | $2.1M-38.2% | $3.0M-32.8% | $3.4M-40.9% |
| Cash & Equivalents | $1.9M+37.1% | $2.8M+134.5% | $4.2M+100.7% | $2.2M-33.7% | $1.4M-43.8% | $1.2M-61.9% | $2.1M-47.6% | $3.3M-35.7% |
| Short-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Accounts Receivable | N/A | N/A | N/A | $85K+162.4% | $31K-41.5% | $35K+26.0% | $69K-17.9% | $32K-71.6% |
| Long-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Total Liabilities | $862K+23.0% | $979K+103.7% | $777K+34.9% | $754K+74.3% | $701K+13.2% | $480K+31.9% | $576K-27.9% | $433K-66.0% |
| Current Liabilities | $642K-8.4% | $747K+55.5% | $777K+40.8% | $754K+95.8% | $701K+27.8% | $480K+60.7% | $552K-23.1% | $385K-67.3% |
| Non-Current Liabilities | $220Kn/m | $232Kn/m | $1-100.0% | $0-100.0% | $0-100.0% | $0-100.0% | $24K-70.4% | $47K-50.8% |
| Total Equity | $1.5M+2.0% | $2.7M+60.9% | $4.1M+59.3% | $1.9M-39.0% | $1.5M-34.3% | $1.7M-45.5% | $2.6M-32.9% | $3.1M-32.7% |
| Retained Earnings | -$19.2Mn/m | -$18.0Mn/m | -$16.6Mn/m | -$15.3Mn/m | -$13.9Mn/m | -$12.5Mn/m | -$11.5Mn/m | -$10.3Mn/m |
Not reported in any period shown, so not listed: Inventory, Goodwill, Long-Term Debt.
LIPO 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 | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$926Kn/m | -$1.4Mn/m | -$1.4Mn/m | -$990Kn/m | -$653Kn/m | -$919Kn/m | -$1.4Mn/m | -$728Kn/m |
| Depreciation & Amortization | $7220.0% | $721-0.1% | $722+0.1% | $721-0.3% | $722 | $722 | $721 | $723 |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $0 |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -$728K |
| Investing Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $0n/m |
| Financing Cash Flow | $0-100.0% | -$10Kn/m | $3.5M+1633.1% | $1.8M+13.0% | $820Kn/m | $0n/m | $200Kn/m | $1.6M |
Not reported in any period shown, so not listed: Stock-Based Compensation, Dividends Paid, Share Buybacks.
LIPO 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 | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | N/A | -1564.2% | -1026.2% | -835.7% | -1815.6% | -697.9% | -834.7% | -603.8% |
| Net Margin | N/A | -1530.6% | -1009.8% | -830.1% | -1797.3% | -687.6% | -817.0% | -570.1% |
| Return on Equity | -84.3%+14.7pp | -48.4%+6.6pp | -32.0%+14.5pp | -75.1%-53.2pp | -99.0%-39.4pp | -55.1%-5.8pp | -46.5%-18.6pp | -21.9% |
| Return on Assets | -53.4%+13.5pp | -35.7%+7.3pp | -26.9%+11.1pp | -53.9%-34.7pp | -66.9%-20.3pp | -43.0%+1.1pp | -38.0%-14.9pp | -19.3% |
| Current Ratio | 3.24+0.3x | 4.60+0.3x | 6.21+0.8x | 3.47-5.4x | 2.97-1.9x | 4.33-6.9x | 5.46-0.8x | 8.90+4.0x |
| Liabilities-to-Equity | 0.58+0.1x | 0.36+0.1x | 0.190.0x | 0.39+0.3x | 0.48+0.2x | 0.28+0.2x | 0.220.0x | 0.14-0.1x |
| Asset Turnover | N/A | 0.020.0x | 0.030.0x | 0.060.0x | 0.040.0x | 0.060.0x | 0.050.0x | 0.03 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -602.2% |
Not reported in any period shown, so not listed: Gross Margin, Debt-to-Equity.
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 |
|---|---|---|---|---|---|---|
| LIPELLA PHARMS INC LIPO | FY2024 | $536K | -$5.0M | N/A | N/A | — |
| GT Biopharma Inc. GTBP | FY2025 | N/A | -$28.4M | N/A | $9.9M | — |
| SciSparc Ltd. SPRC | FY2025 | $856K | -$12.6M | N/A | $633K | — |
| PROTAGENIC THERAPEUTICS PTIX | FY2026 | $0 | $1.4M | N/A | $1.3M | — |
| Scinai Immunotherapeutics Ltd. SCNI | FY2025 | $1.3M | -$8.3M | N/A | $764K | 46/100 |
Where LIPELLA PHARMS INC Ranks
Frequently Asked Questions
What is LIPELLA PHARMS INC's annual revenue?
LIPELLA PHARMS INC (LIPO) reported $536K in total revenue for fiscal year 2024. This represents a 19.3% 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 LIPELLA PHARMS INC's revenue growing?
LIPELLA PHARMS INC (LIPO) revenue grew by 19.3% year-over-year, from $450K to $536K in fiscal year 2024.
Is LIPELLA PHARMS INC profitable?
No, LIPELLA PHARMS INC (LIPO) reported a net loss of $5.0M in fiscal year 2024.
What is LIPELLA PHARMS INC's EBITDA?
LIPELLA PHARMS INC (LIPO) had EBITDA of -$5.1M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is LIPELLA PHARMS INC's return on equity (ROE)?
LIPELLA PHARMS INC (LIPO) has a return on equity of -261.3% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is LIPELLA PHARMS INC's operating cash flow?
LIPELLA PHARMS INC (LIPO) recorded an outflow of $4.0M in operating cash flow during fiscal year 2024, representing cash used by core business activities.
What are LIPELLA PHARMS INC's total assets?
LIPELLA PHARMS INC (LIPO) had $2.7M in total assets as of fiscal year 2024, including both current and long-term assets.
How much does LIPELLA PHARMS INC spend on research and development?
LIPELLA PHARMS INC (LIPO) invested $3.6M in research and development during fiscal year 2024.
What is LIPELLA PHARMS INC's current ratio?
LIPELLA PHARMS INC (LIPO) had a current ratio of 3.47 as of fiscal year 2024, which is generally considered healthy.
What is LIPELLA PHARMS INC's liabilities-to-equity ratio?
LIPELLA PHARMS INC (LIPO) had a liabilities-to-equity ratio of 0.39 as of fiscal year 2024, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity. No debt-to-equity ratio is shown for fiscal year 2024, because the filing data we hold for that year carries no long-term debt figure.
What is LIPELLA PHARMS INC's return on assets (ROA)?
LIPELLA PHARMS INC (LIPO) had a return on assets of -187.6% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
How does LIPELLA PHARMS INC's liquidity compare with its operating cash outflow?
At the end of fiscal year 2024, LIPELLA PHARMS INC (LIPO) held $2.2M in cash, cash equivalents and investments, and reported an operating cash outflow of $4.0M over that year. Dividing the one by the other, the reported balance equals about 7 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 LIPELLA PHARMS INC's Piotroski F-Score?
LIPELLA PHARMS INC (LIPO) has a Piotroski F-Score of 3 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 LIPELLA PHARMS INC's earnings high quality?
LIPELLA PHARMS INC (LIPO) reported a net loss of $5.0M while operations used $4.0M 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.