What is Lantern Pharma Inc's earnings per share (EPS)?

Lantern Pharma Inc (LTRN) reported diluted earnings per share of -$1.57 for fiscal year 2025. This represents a 18.7% 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.

Lantern Pharma Inc (LTRN) Financials

LTRN

FY2025 annual

Net Income -$17.1M +17.6% YoY

EPS (Diluted) -$1.57 +18.7% YoY

Free Cash Flow -$15.7M +12.0% YoY

Operating Cash Flow -$15.7M +12.0% YoY

Market Cap $22.5M as of Sep 10, 2026

Price / Sales n/m no revenue reported

Price / Earnings n/m net loss, so no earnings multiple, FY2025

Price / Book n/m negative shareholder equity, so no book multiple, Q2 FY2026

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 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 14, 2026 Currency USD FYE December

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 LTRN SEC filings page.

This page shows Lantern Pharma Inc (LTRN) 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).

Rhea AI LTRN FY2025 2026-08-30

Lantern’s R&D-funded model converts spending into recurring cash losses while shrinking assets increase financing dependence.

Cash conversion remains direct: operating cash flow of -$15.7M in FY2025 was close to net loss of -$17.1M, indicating that reported losses primarily represent cash investment in operations rather than accounting-only charges. By FY2025, assets had fallen to $11.0M while debt-to-equity reached 0.7x, making the balance sheet more dependent on liabilities than in earlier periods.

R&D spending peaked before the latest loss improvement, rising from $7.6M in FY2021 to $16.1M in FY2024. Its FY2025 reduction coincided with narrower operating losses, so the improvement is better read as spending restraint than evidence of operating leverage.

The reported liquidity comparison equaled 7.7 months of FY2025 operating outflow, while the current ratio fell to 2.4x. Together, those measures describe less excess balance-sheet flexibility than earlier periods, even though near-term assets still exceeded current liabilities.

Financial Health Signals

Financial health score not available

Lantern Pharma 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.

Piotroski F-Score Partial

1/6

Lantern Pharma Inc passes 1 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality No Cash Backing

N/A

Lantern Pharma Inc reported a net loss of $17.1M while operations used $15.7M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Key Financial Metrics

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Earnings & Revenue

EBITDA

-$3.5M

YoY+24.6%

QoQ-3.0%

Lantern Pharma Inc's EBITDA was -$3.5M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 24.6% from the same quarter a year earlier. Against the prior quarter it is down 3.0%.

Net Income

-$7.1M

YoY-63.3%

QoQ-112.4%

Lantern Pharma Inc reported -$7.1M in net income in Q2 2026. This represents a decrease of 63.3% from the same quarter a year earlier. Against the prior quarter it is down 112.4%.

EPS (Diluted)

-$0.57

YoY-42.5%

QoQ-90.0%

Lantern Pharma Inc earned -$0.57 per diluted share (EPS) in Q2 2026. This represents a decrease of 42.5% from the same quarter a year earlier. Against the prior quarter it is down 90.0%.

Revenue

Not reported for Q2 2026.

Cash & Balance Sheet

Cash & Debt

$6.7M

YoY+9.9%

QoQ+35.4%

5Y CAGR-35.9%

Lantern Pharma Inc held $6.7M in cash as of Q2 2026; long-term debt is not reported for that period.

Shares Outstanding

13M

YoY+18.4%

QoQ+13.1%

5Y CAGR+2.7%

Lantern Pharma Inc had 13M shares outstanding in Q2 2026. This represents an increase of 18.4% from the same quarter a year earlier. Against the prior quarter it is up 13.1%.

Free Cash Flow

Not reported for Q2 2026.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

None of these metrics is reported for Q2 2026.

Capital Allocation

R&D Spending

$1.8M

YoY-41.6%

QoQ+3.8%

Lantern Pharma Inc invested $1.8M in research and development in Q2 2026. This represents a decrease of 41.6% from the same quarter a year earlier. Against the prior quarter it is up 3.8%.

Share Buybacks

Not reported for Q2 2026.

Capital Expenditures

Not reported for Q2 2026.

LTRN 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.

LTRN quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K
R&D Expenses	N/A	$11.5M-28.6%	$16.1M+35.6%	$11.9M+38.3%	$8.6M+13.6%	$7.6M+237.5%	$2.2M	N/A
SG&A Expenses	N/A	$6.5M+6.1%	$6.1M+1.8%	$6.0M+2.6%	$5.8M+16.1%	$5.0M+37.0%	$3.7M+148.5%	$1.5M
Operating Income	N/A	-$18.0M+19.1%	-$22.2M-24.3%	-$17.9M-23.9%	-$14.4M-14.6%	-$12.6M	N/A	N/A
EBITDA	N/A	-$18.0M+19.1%	-$22.2M-24.3%	-$17.9M-23.9%	-$14.4M-14.6%	-$12.6M	N/A	N/A
Net Income	N/A	-$17.1M+17.6%	-$20.8M-30.2%	-$16.0M-11.9%	-$14.3M-15.3%	-$12.4M-109.3%	-$5.9M-143.3%	-$2.4M
EPS (Basic)	N/A	-$1.57+18.7%	-$1.93-31.3%	-$1.47-12.2%	-$1.31-15.9%	-$1.13	N/A	N/A
EPS (Diluted)	-$1.62	-$1.57+18.7%	-$1.93-31.3%	-$1.47-12.2%	-$1.31	N/A	N/A	N/A
Diluted Shares (Avg)	N/A	11M+1.3%	11M-0.7%	11M-0.1%	11M	N/A	N/A	N/A

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	$1.8M-41.6%	$1.7M-47.2%	N/A	$2.4M-34.4%	$3.1M-21.1%	$3.3M-23.2%	N/A	$3.7M+68.2%
SG&A Expenses	$1.7M+8.4%	$1.7M+11.3%	N/A	$1.9M+30.8%	$1.6M+4.2%	$1.5M+1.9%	N/A	$1.5M+11.4%
Operating Income	-$3.5M+24.6%	-$3.4M+28.7%	N/A	-$4.3M+16.0%	-$4.7M+14.0%	-$4.8M+16.7%	N/A	-$5.2M-47.0%
EBITDA	-$3.5M+24.6%	-$3.4M+28.7%	N/A	-$4.3M+16.0%	-$4.6M	-$4.8M+16.7%	N/A	-$5.2M
Net Income	-$7.1M-63.3%	-$3.3M+26.6%	N/A	-$4.2M+7.3%	-$4.3M+12.7%	-$4.5M+16.6%	N/A	-$4.5M-42.5%
EPS (Basic)	-$0.57-42.5%	-$0.30+28.6%	-$0.36+33.3%	-$0.39+7.1%	-$0.40+13.0%	-$0.42+17.6%	-$0.54-38.5%	-$0.42-44.8%
EPS (Diluted)	-$0.57-42.5%	-$0.30+28.6%	-$0.36+33.3%	-$0.39+7.1%	-$0.40+13.0%	-$0.42+17.6%	-$0.54-38.5%	-$0.42-44.8%
Diluted Shares (Avg)	12M+15.2%	11M+4.3%	N/A	11M+0.7%	11M+0.2%	11M+0.4%	N/A	11M-0.9%

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Interest Expense, Income Tax.

LTRN Balance Sheet

LTRN quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K
Total Assets	$11.0M-56.8%	$25.6M-41.4%	$43.6M-25.8%	$58.8M-20.4%	$74.0M+263.2%	$20.4M+1321.2%	$1.4M
Current Assets	$10.8M-57.2%	$25.2M-41.7%	$43.3M-26.2%	$58.7M-19.2%	$72.7M+259.3%	$20.2M+1541.5%	$1.2M
Cash & Equivalents	$4.4M-41.1%	$7.5M-65.8%	$21.9M-41.0%	$37.2M-27.8%	$51.5M+167.9%	$19.2M+1460.8%	$1.2M
Short-Term Investments	$5.7M-65.5%	$16.5M-14.8%	$19.4M+7.6%	$18.0M-6.3%	$19.2M	$0	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$4.5M+2.7%	$4.4M+60.0%	$2.7M-2.1%	$2.8M+17.6%	$2.4M+260.0%	$661K+35.1%	$489K
Current Liabilities	$4.5M+3.9%	$4.3M+61.7%	$2.7M-4.3%	$2.8M+20.3%	$2.3M+321.1%	$552K+12.9%	$489K
Non-Current Liabilities	$0-100.0%	$53K-14.1%	$61K	$0-100.0%	$53K-51.3%	$109K	$0
Total Equity	$6.5M-69.2%	$21.2M-48.2%	$40.9M-27.0%	$56.0M-21.7%	$71.6M+263.3%	$19.7M+1988.3%	$943K
Retained Earnings	-$93.1M-22.5%	-$76.0M-37.6%	-$55.2M-40.6%	-$39.3M-57.0%	-$25.0M-97.7%	-$12.7M-87.5%	-$6.8M

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	$8.6M-50.6%	$7.2M-65.8%	$11.0M-56.8%	$13.6M-55.0%	$17.4M-51.0%	$21.1M-46.9%	$25.6M-41.4%	$30.3M-36.6%
Current Assets	$8.5M-50.8%	$7.1M-66.1%	$10.8M-57.2%	$13.5M-55.0%	$17.2M-51.3%	$20.8M-47.2%	$25.2M-41.7%	$29.9M-36.9%
Cash & Equivalents	$6.7M+9.9%	$4.9M-22.9%	$4.4M-41.1%	$8.4M+3.5%	$6.1M-53.3%	$6.4M-65.3%	$7.5M-65.8%	$8.1M-68.3%
Short-Term Investments	$701K-92.9%	$1.4M-89.5%	$5.7M-65.5%	$4.0M-80.1%	$9.8M-51.5%	$13.3M-33.3%	$16.5M-14.8%	$20.0M+3.1%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$11.8M+141.3%	$3.8M-12.6%	$4.5M+2.7%	$4.0M+9.3%	$4.9M+5.2%	$4.3M+8.8%	$4.4M+60.0%	$3.7M+56.6%
Current Liabilities	$4.3M-11.5%	$3.8M-11.9%	$4.5M+3.9%	$4.0M+12.2%	$4.9M+6.2%	$4.3M+8.4%	$4.3M+61.7%	$3.6M+59.8%
Non-Current Liabilities	$7.5M+55335.4%	$0-100.0%	$0-100.0%	$0-100.0%	$14K-75.3%	$33K+114.7%	$53K-14.1%	$94K-11.8%
Total Equity	-$3.2M-125.7%	$3.4M-79.5%	$6.5M-69.2%	$9.6M-64.0%	$12.5M-59.5%	$16.8M-53.1%	$21.2M-48.2%	$26.6M-41.4%
Retained Earnings	-$103.5M-22.0%	-$96.5M-19.8%	-$93.1M-22.5%	-$89.1M-27.0%	-$84.9M-29.3%	-$80.6M-32.8%	-$76.0M-37.6%	-$70.2M-37.4%

Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.

LTRN Cash Flow Statement

LTRN quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K
Operating Cash Flow	-$14.1M	-$15.7M+12.0%	-$17.8M-24.2%	-$14.3M-12.4%	-$12.8M-20.5%	-$10.6M-87.4%	-$5.7M-165.6%	-$2.1M
Depreciation & Amortization	N/A	$17K0.0%	$17K+18.2%	$15K+45.0%	$10K+49.1%	$7K+99.6%	$3K+108.2%	$2K
Stock-Based Compensation	N/A	$651K-0.2%	$652K-35.9%	$1.0M-14.4%	$1.2M+23.5%	$962K	N/A	N/A
Capital Expenditures	N/A	$2K-86.4%	$13K-32.8%	$19K-32.7%	$28K+79.7%	$15K	N/A	N/A
Free Cash Flow	N/A	-$15.7M+12.0%	-$17.8M-24.1%	-$14.4M-12.3%	-$12.8M-20.6%	-$10.6M	N/A	N/A
Investing Cash Flow	$9.2M	$11.1M+228.2%	$3.4M+462.2%	-$930K-618.9%	$179K+100.9%	-$19.5M-120929.8%	-$16K-182.3%	-$6K
Financing Cash Flow	N/A	$1.5M+2145.9%	$67K+113.3%	-$500K+77.1%	-$2.2M-103.4%	$63.4M+168.0%	$23.7M+710.3%	$2.9M
Share Buybacks	N/A	N/A	N/A	$500K-79.9%	$2.5M+164.2%	$940K	N/A	N/A

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	-$2.9M+25.3%	-$3.8M+13.8%	-$2.8M+29.7%	-$4.6M+18.1%	-$3.9M+24.1%	-$4.4M-42.6%	-$4.0M-17.3%	-$5.6M-54.5%
Depreciation & Amortization	$4K-16.7%	$4K-15.8%	$4K-10.3%	$4K-6.5%	$5K	$5K+12.6%	$5K	$4K
Stock-Based Compensation	N/A	N/A	N/A	$144K-19.8%	$161K+19.7%	$148K+10.2%	N/A	$179K-6.1%
Capital Expenditures	N/A	N/A	$1-100.0%	$555-81.7%	$0-100.0%	$1K-47.7%	$3K-39.3%	$3K-36.6%
Free Cash Flow	N/A	N/A	-$2.8M+29.8%	-$4.6M+18.1%	-$3.9M+24.2%	-$4.4M-42.5%	-$4.0M-17.2%	-$5.6M-54.4%
Investing Cash Flow	$692K-80.7%	$4.3M+31.2%	-$1.7M-149.4%	$5.9M+771.4%	$3.6M+1878.2%	$3.2M+682.4%	$3.4M+1245.6%	$680K+193.6%
Financing Cash Flow	N/A	N/A	$526K	N/A	N/A	N/A	$0	$12K

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

LTRN 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.

LTRN quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K
Return on Equity	-262.0%-163.9pp	-98.1%-59.1pp	-39.0%-13.6pp	-25.4%-8.2pp	-17.3%+12.7pp	-30.0%+227.4pp	-257.4%
Return on Assets	-155.1%-73.9pp	-81.3%-44.7pp	-36.6%-12.3pp	-24.2%-7.5pp	-16.7%+12.3pp	-29.0%+140.5pp	-169.5%
Current Ratio	2.40-3.4x	5.83-10.4x	16.18-4.8x	20.99-10.3x	31.26-5.4x	36.64+34.1x	2.52
Debt-to-Equity	0.69+0.5x	0.21+0.1x	0.070.0x	0.050.0x	0.030.0x	0.03-0.5x	0.52

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	N/A	-96.6%-69.6pp	N/A	-43.6%-26.6pp	-34.6%-18.6pp	-27.0%-11.8pp	N/A	-16.9%-10.0pp
Return on Assets	-82.2%-57.4pp	-46.1%-24.6pp	N/A	-30.7%-15.8pp	-24.9%-10.9pp	-21.5%-7.8pp	N/A	-14.9%-8.3pp
Current Ratio	1.96-1.6x	1.87-3.0x	2.40-3.4x	3.33-5.0x	3.52-4.1x	4.86-5.1x	5.83-10.4x	8.31-12.7x
Debt-to-Equity	N/A	1.10+0.8x	0.69+0.5x	0.42+0.3x	0.39+0.2x	0.26+0.1x	0.21+0.1x	0.14+0.1x

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
Lantern Pharma Inc LTRN	FY2025	N/A	-$17.1M	N/A	$22.5M	—
Plus Therapeutics Inc PSTV	FY2025	$5.2M	-$22.4M	N/A	$26.6M	31/100
Renovaro RENB	FY2025	N/A	N/A	N/A	$32.9M	—
Grace Therapeutics, Inc GRCE	FY2026	N/A	-$7.8M	N/A	$45.0M	—
Jasper Therapeutics Inc JSPR	FY2025	N/A	-$76	N/A	$23.3M	—
LAVA Therapeutics N.V. LVTX	FY2024	$12.0M	-$25.1M	N/A	$45.8M	53/100

Where Lantern Pharma Inc Ranks

Frequently Asked Questions

Is Lantern Pharma Inc profitable?

No, Lantern Pharma Inc (LTRN) reported a net income of -$17.1M in fiscal year 2025.

What is Lantern Pharma Inc's EBITDA?

Lantern Pharma Inc (LTRN) had EBITDA of -$18.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Lantern Pharma Inc's return on equity (ROE)?

Lantern Pharma Inc (LTRN) has a return on equity of -262.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Lantern Pharma Inc's free cash flow?

Lantern Pharma Inc (LTRN) recorded an outflow of $15.7M in free cash flow during fiscal year 2025. This represents a 12.0% 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 Lantern Pharma Inc's operating cash flow?

Lantern Pharma Inc (LTRN) recorded an outflow of $15.7M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are Lantern Pharma Inc's total assets?

Lantern Pharma Inc (LTRN) had $11.0M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Lantern Pharma Inc's capital expenditures?

Lantern Pharma Inc (LTRN) invested $2K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Lantern Pharma Inc spend on research and development?

Lantern Pharma Inc (LTRN) invested $11.5M in research and development during fiscal year 2025.

How many shares does Lantern Pharma Inc have outstanding?

Lantern Pharma Inc (LTRN) had 11M shares outstanding as of fiscal year 2025.

What is Lantern Pharma Inc's current ratio?

Lantern Pharma Inc (LTRN) had a current ratio of 2.40 as of fiscal year 2025, which is generally considered healthy.

What is Lantern Pharma Inc's debt-to-equity ratio?

Lantern Pharma Inc (LTRN) had a debt-to-equity ratio of 0.69 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Lantern Pharma Inc's return on assets (ROA)?

Lantern Pharma Inc (LTRN) had a return on assets of -155.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Lantern Pharma Inc's P/E ratio?

Lantern Pharma Inc (LTRN) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $22.5M as of Sep 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Lantern Pharma Inc's price-to-sales ratio?

Lantern Pharma Inc (LTRN) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $22.5M as of Sep 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

How does Lantern Pharma Inc's liquidity compare with its operating cash outflow?

At the end of fiscal year 2025, Lantern Pharma Inc (LTRN) held $10.1M in cash, cash equivalents and investments, and reported an operating cash outflow of $15.7M over that year. Dividing the one by the other, the reported balance equals about 8 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 Lantern Pharma Inc's Piotroski F-Score?

Lantern Pharma Inc (LTRN) has a Piotroski F-Score of 1 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 Lantern Pharma Inc's earnings high quality?

Lantern Pharma Inc (LTRN) reported a net loss of $17.1M while operations used $15.7M 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.