LAVA Therapeutics N.V. (LVTX) Financials
Newest figures come from the 10-Q for Q3 FY2025, filed Nov 6, 2025. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the LVTX SEC filings page.
LAVA Therapeutics N.V. (LVTX) reported $12.0M in revenue for fiscal year 2024, up 77.0% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 2 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).
LAVA’s development-stage model converts rising revenue into smaller losses, but remains funded primarily by ongoing R&D spending.
Revenue increased77.0% while R&D spending declined12.6% from FY2023 to FY2024, a combination that narrowed operating losses without making the model profitable. Operating cash outflow fell51.5% over the same span, indicating the improved accounting result was accompanied by better cash performance, not merely a non-cash margin change.
LAVA remains development-stage: FY2024 R&D was
Operating cash flow of
Financial Health Signals
Scored against operating companies for FY2024. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of LAVA Therapeutics N.V.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
LAVA Therapeutics N.V.'s reported operating margin for fiscal year 2024 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 18/100.
LAVA Therapeutics N.V.'s revenue surged 77.0% year-over-year to $12.0M, reflecting rapid business expansion. This strong growth earns a score of 97/100.
LAVA Therapeutics N.V. carries a low D/E ratio of 0.18, meaning only $0.18 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 77/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 4.40, LAVA Therapeutics N.V. holds $4.40 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 89/100.
LAVA Therapeutics N.V.'s reported free cash flow margin for fiscal year 2024 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 1/100.
LAVA Therapeutics N.V. posts a -90.5% return on equity (ROE), meaning it loses $91 for every $100 of shareholders' equity. This results in a returns score of 34/100. This is down from -81.5% the prior year.
LAVA Therapeutics N.V. scores -2.67, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($45.8M) relative to total liabilities ($53.1M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
LAVA Therapeutics N.V. passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
LAVA Therapeutics N.V. reported a net loss of $25.1M while operations used $19.5M of cash. With neither figure positive, the ratio between the two carries no quality signal.
LAVA Therapeutics N.V. reported an operating loss of $29.7M against $500K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
LAVA Therapeutics N.V.'s EBITDA was -$7.5M in Q3 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 32.9% from the same quarter a year earlier. Against the prior quarter it is down 3.7%.
LAVA Therapeutics N.V. reported -$7.2M in net income in Q3 2025. This represents an increase of 41.7% from the same quarter a year earlier. Against the prior quarter it is up 16.8%.
LAVA Therapeutics N.V. earned -$0.27 per diluted share (EPS) in Q3 2025. This represents an increase of 41.3% from the same quarter a year earlier. Against the prior quarter it is up 15.6%.
Not reported for Q3 2025.
Cash & Balance Sheet
LAVA Therapeutics N.V. held $49.7M in cash as of Q3 2025; long-term debt is not reported for that period.
Not reported for Q3 2025.
Not reported for Q3 2025.
Margins & Returns
LAVA Therapeutics N.V.'s ROE was -56.7% in Q3 2025, measuring profit generated per dollar of shareholder equity. This is down 19.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 13.3 percentage points.
Not reported for Q3 2025.
Not reported for Q3 2025.
Not reported for Q3 2025.
Capital Allocation
LAVA Therapeutics N.V. invested $2.2M in research and development in Q3 2025. This represents a decrease of 72.9% from the same quarter a year earlier. Against the prior quarter it is down 52.8%.
Not reported for Q3 2025.
Not reported for Q3 2025.
LVTX 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-Q | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | N/A | N/A | $7.0M | N/A |
| R&D Expenses | $2.2M-72.9% | $4.7M-20.5% | $4.2M-26.4% | N/A | $8.3M | $6.0M | $5.6M | N/A |
| SG&A Expenses | $5.3M+73.4% | $2.5M-25.8% | $3.4M+1.5% | N/A | $3.1M | $3.4M | $3.4M | N/A |
| Operating Income | -$7.6M+33.4% | -$7.3M+22.4% | -$7.6M-272.7% | N/A | -$11.3M | -$9.4M | -$2.0M | N/A |
| EBITDA | -$7.5M+32.9% | -$7.3M+21.5% | -$7.5M-295.4% | N/A | -$11.2M | -$9.3M | -$1.9M | N/A |
| Interest Expense | N/A | $0-100.0% | $100K-23.1% | N/A | $100K | $100K | $130K | N/A |
| Income Tax | $6K-93.8% | $72K-16.3% | $225K+226.1% | N/A | $96K | $86K | $69K | N/A |
| Net Income | -$7.2M+41.7% | -$8.6M-4.1% | -$3.5M-472.2% | N/A | -$12.3M | -$8.3M | -$608K | N/A |
| EPS (Basic) | -$0.27+41.3% | -$0.32-3.2% | -$0.13-550.0% | -$0.15 | -$0.46 | -$0.31 | -$0.02 | N/A |
| EPS (Diluted) | -$0.27+41.3% | -$0.32-3.2% | -$0.13-550.0% | -$0.15 | -$0.46 | -$0.31 | -$0.02 | N/A |
| Diluted Shares (Avg) | 27M+0.2% | 27M+0.3% | 27M+0.4% | N/A | 27M | 27M | 27M | N/A |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit.
LVTX 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-Q | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $51.9M | $60.5M | $71.2M | $80.8M-20.5% | N/A | N/A | N/A | $101.7M |
| Current Assets | $51.9M | $60.5M | $69.8M | $79.3M-19.8% | N/A | N/A | N/A | $98.9M |
| Cash & Equivalents | $49.7M+84.2% | $26.4M-24.8% | $39.7M-8.1% | $35.0M-20.8% | $27.0M | $35.1M | $43.2M | $44.2M |
| Short-Term Investments | $0 | $29.8M | $26.9M | $41.6M-19.0% | $0 | $0 | $0 | $51.3M |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $39.2M | $40.6M | $45.4M | $53.1M+5.5% | N/A | N/A | N/A | $50.3M |
| Current Liabilities | $4.2M | $5.6M | $10.4M | $18.0M+20.9% | N/A | N/A | N/A | $14.9M |
| Non-Current Liabilities | $35.0M | $35.0M | $35.0M | $35.1M-0.9% | N/A | N/A | N/A | $35.4M |
| Long-Term Debt | N/A | N/A | N/A | $4.9M-7.5% | N/A | N/A | N/A | $5.3M |
| Total Equity | $12.7M-61.6% | $19.9M-53.6% | $25.8M-49.3% | $27.7M-46.0% | $33.0M | $42.9M | $50.8M | $51.4M |
| Retained Earnings | -$194.3M | -$187.1M | -$178.5M | -$175.0M-16.8% | N/A | N/A | N/A | -$149.9M |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill.
LVTX 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-Q | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$4.9M+51.3% | -$13.7M-67.4% | -$11.6M-1281.4% | -$494K | -$10.0M | -$8.2M | -$843K | N/A |
| Depreciation & Amortization | $3K-96.8% | $8K-93.3% | $107K-25.7% | $110K | $93K | $120K | $144K | N/A |
| Stock-Based Compensation | N/A | N/A | $540K-50.7% | N/A | N/A | N/A | $1.1M | N/A |
| Capital Expenditures | N/A | N/A | N/A | $0 | N/A | N/A | $23K | N/A |
| Free Cash Flow | N/A | N/A | N/A | -$494K | N/A | N/A | -$866K | N/A |
| Investing Cash Flow | $27.7M+6167.4% | -$2.5M-787.9% | $15.2M+2084.3% | $11.0M | $442K | $363K | $694K | N/A |
| Financing Cash Flow | N/A | N/A | N/A | -$594K | $1K | $16K | $8K | N/A |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
LVTX 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-Q | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | -29.1% | N/A |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | -8.7% | N/A |
| Return on Equity | -56.7%-19.4pp | -43.3%-24.0pp | -13.5%-12.3pp | N/A | -37.3% | -19.3% | -1.2% | N/A |
| Return on Assets | -13.9% | -14.3% | -4.9% | N/A | N/A | N/A | N/A | N/A |
| Current Ratio | 12.27 | 10.78 | 6.73 | 4.40-2.2x | N/A | N/A | N/A | 6.64 |
| Debt-to-Equity | 3.09 | 2.04 | 1.76 | 0.18+0.1x | N/A | N/A | N/A | 0.10 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | -12.4% | N/A |
Not reported in any period shown, so not listed: Gross Margin, Asset Turnover.
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 |
|---|---|---|---|---|---|---|
| LAVA Therapeutics N.V. LVTX | FY2024 | $12.0M | -$25.1M | N/A | $45.8M | 53/100 |
| Jasper Therapeutics Inc JSPR | FY2025 | N/A | -$76 | N/A | $23.6M | — |
| Estrella Immunopharma ESLA | FY2025 | N/A | -$13.1M | N/A | $27.9M | — |
| Xilio Therapeutics, Inc. XLO | FY2025 | $43.8M | -$35.0M | -80.0% | $58.6M | 87/100 |
| Mersana Therapeutics Inc MRSN | FY2024 | $40.5M | -$69.2M | N/A | $145.4M | 53/100 |
| Senti Biosciences Holdings, Inc. SNTI | FY2025 | $22K | -$61.4M | N/A | $9.8M | — |
Where LAVA Therapeutics N.V. Ranks
Frequently Asked Questions
What is LAVA Therapeutics N.V.'s annual revenue?
LAVA Therapeutics N.V. (LVTX) reported $12.0M in total revenue for fiscal year 2024. This represents a 77.0% 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 LAVA Therapeutics N.V.'s revenue growing?
LAVA Therapeutics N.V. (LVTX) revenue grew by 77.0% year-over-year, from $6.8M to $12.0M in fiscal year 2024.
Is LAVA Therapeutics N.V. profitable?
No, LAVA Therapeutics N.V. (LVTX) reported a net income of -$25.1M in fiscal year 2024.
What is LAVA Therapeutics N.V.'s EBITDA?
LAVA Therapeutics N.V. (LVTX) had EBITDA of -$29.2M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does LAVA Therapeutics N.V. have?
As of fiscal year 2024, LAVA Therapeutics N.V. (LVTX) had $35.0M in cash and equivalents against $4.9M in long-term debt.
What is LAVA Therapeutics N.V.'s return on equity (ROE)?
LAVA Therapeutics N.V. (LVTX) has a return on equity of -90.5% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is LAVA Therapeutics N.V.'s free cash flow?
LAVA Therapeutics N.V. (LVTX) recorded an outflow of $19.6M in free cash flow during fiscal year 2024. This represents a 52.3% 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 LAVA Therapeutics N.V.'s operating cash flow?
LAVA Therapeutics N.V. (LVTX) recorded an outflow of $19.5M in operating cash flow during fiscal year 2024, representing cash used by core business activities.
What are LAVA Therapeutics N.V.'s total assets?
LAVA Therapeutics N.V. (LVTX) had $80.8M in total assets as of fiscal year 2024, including both current and long-term assets.
What are LAVA Therapeutics N.V.'s capital expenditures?
LAVA Therapeutics N.V. (LVTX) invested $23K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does LAVA Therapeutics N.V. spend on research and development?
LAVA Therapeutics N.V. (LVTX) invested $28.4M in research and development during fiscal year 2024.
What is LAVA Therapeutics N.V.'s current ratio?
LAVA Therapeutics N.V. (LVTX) had a current ratio of 4.40 as of fiscal year 2024, which is generally considered healthy.
What is LAVA Therapeutics N.V.'s debt-to-equity ratio?
LAVA Therapeutics N.V. (LVTX) had a debt-to-equity ratio of 0.18 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is LAVA Therapeutics N.V.'s return on assets (ROA)?
LAVA Therapeutics N.V. (LVTX) had a return on assets of -31.1% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
How does LAVA Therapeutics N.V.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2024, LAVA Therapeutics N.V. (LVTX) held $76.6M in cash, cash equivalents and investments, and reported an operating cash outflow of $19.5M over that year. Dividing the one by the other, the reported balance equals about 47 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 LAVA Therapeutics N.V.'s Altman Z-Score?
LAVA Therapeutics N.V. (LVTX) has an Altman Z-Score of -2.67, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is LAVA Therapeutics N.V.'s Piotroski F-Score?
LAVA Therapeutics N.V. (LVTX) has a Piotroski F-Score of 3 out of 8 computable signals; 1 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 LAVA Therapeutics N.V.'s earnings high quality?
LAVA Therapeutics N.V. (LVTX) reported a net loss of $25.1M while operations used $19.5M 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.
Can LAVA Therapeutics N.V. cover its interest payments?
LAVA Therapeutics N.V. (LVTX) reported an operating loss of $29.7M against $500K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is LAVA Therapeutics N.V.?
LAVA Therapeutics N.V. (LVTX) scores 53 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.