LeonaBio, Inc. (LONA) 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 16, 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 14, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the LONA SEC filings page.
This page shows LeonaBio, Inc. (LONA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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).
Persistent operating losses are being financed externally while the balance sheet's liquidity cushion tightens.
In FY2025, the net loss widened to-$106M while operating cash outflow improved to-$45.7M , reversing the near one-for-one relationship seen in FY2024. That gap indicates noncash items or working-capital movements reduced near-term cash use, without demonstrating improved underlying earnings.
The $82.5M financing inflow in FY2025 coincided with total liabilities rising to
R&D and selling, general, and administrative expense fell to
Financial Health Signals
LeonaBio, 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.
LeonaBio, 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.
LeonaBio, Inc. reported a net loss of $106.0M while operations used $45.7M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
LeonaBio, Inc.'s EBITDA was -$19.3M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 171.5% from the same quarter a year earlier. Against the prior quarter it is down 13.4%.
LeonaBio, Inc. reported -$19.0M in net income in Q2 2026. This represents a decrease of 172.9% from the same quarter a year earlier. Against the prior quarter it is up 42.3%.
LeonaBio, Inc. earned -$0.80 per diluted share (EPS) in Q2 2026. Against the prior quarter it is up 53.8%.
Not reported for Q2 2026.
Cash & Balance Sheet
LeonaBio, Inc. held $32.3M 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
LeonaBio, Inc.'s ROE was -56.6% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 34.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 10.3 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
LeonaBio, Inc. invested $12.7M in research and development in Q2 2026. This represents an increase of 247.0% from the same quarter a year earlier. Against the prior quarter it is up 12.8%.
Not reported for Q2 2026.
Not reported for Q2 2026.
LONA 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 | $12.7M+247.0% | $11.3M+161.8% | N/A | $2.8M-84.2% | $3.7M-83.5% | $4.3M-79.7% | N/A | $17.9M-34.1% |
| SG&A Expenses | $6.6M+81.2% | $6.9M+31.5% | N/A | $4.0M-46.5% | $3.6M-38.2% | $5.2M-18.9% | N/A | $7.6M-3.4% |
| Operating Income | -$19.5M-166.8% | -$17.2M-80.5% | N/A | -$6.9M+76.8% | -$7.3M+74.0% | -$9.5M+65.6% | N/A | -$29.6M+15.5% |
| EBITDA | -$19.3M-171.5% | -$17.0M-82.8% | N/A | -$6.7M+77.3% | -$7.1M+74.5% | -$9.3M+66.1% | N/A | -$29.4M+15.5% |
| Net Income | -$19.0M-172.9% | -$32.9M-260.4% | N/A | -$6.6M+77.0% | -$7.0M+74.1% | -$9.1M+65.3% | N/A | -$28.7M+12.8% |
| EPS (Basic) | -$0.80+55.1% | -$1.73+26.1% | -$18.90-4746.2% | -$1.68+77.5% | -$1.78-154.3% | -$2.34-239.1% | -$0.39+45.1% | -$7.46-757.5% |
| EPS (Diluted) | -$0.80 | -$1.73 | -$18.90 | -$1.68 | -$1.78 | -$2.34 | -$0.39+45.1% | -$7.46 |
| Diluted Shares (Avg) | 24M | 19M | N/A | 4M | 4M | 4M | N/A | 4M |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Interest Expense, Income Tax.
LONA 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 | $56.9M+60.1% | $71.6M+64.5% | $92.2M+56.8% | $30.0M-65.2% | $35.5M-68.1% | $43.5M-67.4% | $58.8M-63.3% | $86.2M-53.3% |
| Current Assets | $54.8M+70.1% | $69.2M+73.6% | $89.5M+63.1% | $27.0M-67.0% | $32.2M-69.8% | $39.9M-69.0% | $54.8M-64.6% | $82.0M-54.1% |
| Cash & Equivalents | $32.3M+62.5% | $32.8M+24.3% | $69.3M+43.0% | $20.9M-69.7% | $19.9M-73.1% | $26.4M-66.0% | $48.4M-46.5% | $68.9M-37.6% |
| Short-Term Investments | $18.7M+88.7% | $34.8M+240.0% | $19.1M+571.7% | $4.4M | $9.9M-44.6% | $10.2M-76.8% | $2.8M-95.0% | $0-100.0% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $23.3M+554.7% | $22.3M+260.5% | $64.4M+361.8% | $3.2M-88.7% | $3.6M-87.3% | $6.2M-76.9% | $13.9M-53.6% | $28.7M-4.3% |
| Current Liabilities | $7.8M+162.2% | $6.7M+21.4% | $47.5M+261.7% | $2.8M-90.0% | $3.0M-88.9% | $5.5M-78.5% | $13.1M-54.5% | $27.8M-3.0% |
| Non-Current Liabilities | $15.5M+2578.5% | $15.6M+2160.6% | $16.9M+1999.4% | $460K-49.6% | $578K-43.1% | $691K-38.2% | $803K-34.0% | $912K-30.6% |
| Total Equity | $33.6M+5.0% | $49.3M+32.1% | $27.8M-38.0% | $26.8M-53.5% | $32.0M-61.6% | $37.3M-65.0% | $44.8M-65.6% | $57.6M-62.8% |
| Retained Earnings | -$563.7M-33.5% | -$544.7M-31.2% | -$511.8M-26.0% | -$428.9M-9.6% | -$422.3M-16.5% | -$415.3M-23.8% | -$406.1M-31.4% | -$391.1M-38.7% |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
LONA 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 | -$17.0M-142.3% | -$20.9M-42.5% | -$19.4M+25.4% | -$4.7M+79.7% | -$7.0M+68.7% | -$14.7M+43.2% | -$26.0M+1.1% | -$23.0M+4.0% |
| Depreciation & Amortization | $200K0.0% | $231K-4.9% | $243K0.0% | $200K0.0% | $200K0.0% | $243K+0.4% | $243K-0.8% | $200K-18.0% |
| Stock-Based Compensation | $3.2M+99.2% | $662K-59.6% | N/A | $1.4M-52.0% | $1.6M-50.2% | $1.6M-38.9% | N/A | $2.9M+17.7% |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | $0 | $0-100.0% |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | -$26.0M+1.1% | -$23.0M+4.1% |
| Investing Cash Flow | $16.3M+3603.9% | -$15.5M-111.4% | -$14.6M-420.6% | $5.7M-68.7% | $441K-98.3% | -$7.4M-156.4% | -$2.8M-144.0% | $18.0M-12.8% |
| Financing Cash Flow | N/A | N/A | $82.4M+242361.8% | $0-100.0% | N/A | N/A | $34K-77.6% | $12K |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
LONA 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 | -56.6%-34.8pp | -66.8%-42.3pp | N/A | -24.7%+25.2pp | -21.8%+10.4pp | -24.5%+0.2pp | N/A | -49.9%-28.6pp |
| Return on Assets | -33.4%-13.8pp | -46.0%-25.0pp | N/A | -22.0%+11.3pp | -19.6%+4.5pp | -21.0%-1.3pp | N/A | -33.3%-15.5pp |
| Current Ratio | 7.01-3.8x | 10.38+3.1x | 1.88-2.3x | 9.70+6.7x | 10.81+6.8x | 7.26+2.2x | 4.18-1.2x | 2.95-3.3x |
| Debt-to-Equity | 0.69+0.6x | 0.45+0.3x | 2.32+2.0x | 0.12-0.4x | 0.11-0.2x | 0.17-0.1x | 0.31+0.1x | 0.50+0.3x |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Asset Turnover, FCF Margin.
Where LeonaBio, Inc. Ranks
Frequently Asked Questions
Is LeonaBio, Inc. profitable?
No, LeonaBio, Inc. (LONA) reported a net income of -$106.0M in fiscal year 2025.
What is LeonaBio, Inc.'s EBITDA?
LeonaBio, Inc. (LONA) had EBITDA of -$101.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is LeonaBio, Inc.'s return on equity (ROE)?
LeonaBio, Inc. (LONA) has a return on equity of -381.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is LeonaBio, Inc.'s operating cash flow?
LeonaBio, Inc. (LONA) recorded an outflow of $45.7M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are LeonaBio, Inc.'s total assets?
LeonaBio, Inc. (LONA) had $92.2M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does LeonaBio, Inc. spend on research and development?
LeonaBio, Inc. (LONA) invested $17.5M in research and development during fiscal year 2025.
What is LeonaBio, Inc.'s current ratio?
LeonaBio, Inc. (LONA) had a current ratio of 1.88 as of fiscal year 2025, which is generally considered healthy.
What is LeonaBio, Inc.'s debt-to-equity ratio?
LeonaBio, Inc. (LONA) had a debt-to-equity ratio of 2.32 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is LeonaBio, Inc.'s return on assets (ROA)?
LeonaBio, Inc. (LONA) had a return on assets of -115.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is LeonaBio, Inc.'s P/E ratio?
LeonaBio, Inc. (LONA) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $68.2M as of Sep 16, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is LeonaBio, Inc.'s price-to-sales ratio?
LeonaBio, Inc. (LONA) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $68.2M as of Sep 16, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does LeonaBio, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, LeonaBio, Inc. (LONA) held $88.3M in cash, cash equivalents and investments, and reported an operating cash outflow of $45.7M over that year. Dividing the one by the other, the reported balance equals about 23 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 LeonaBio, Inc.'s Piotroski F-Score?
LeonaBio, Inc. (LONA) 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 LeonaBio, Inc.'s earnings high quality?
LeonaBio, Inc. (LONA) reported a net loss of $106.0M while operations used $45.7M 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.