Lexeo Therapeutics, Inc. (LXEO) 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 Oct 17, 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 12, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the LXEO SEC filings page.
This page shows Lexeo Therapeutics, Inc. (LXEO) financial statements, including the 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).
Lexeo remains a research-led business: operations consume cash, while new financing—not sales—has expanded its balance sheet.
In FY2025, the net loss of$100M closely matched operating cash outflow of$98.6M , indicating that reported losses are translating into immediate cash use rather than being driven mainly by non-cash charges. Meanwhile, financing cash flow supplied$216.8M as assets rose to$268.7M , so the larger balance sheet reflects capital raised more than internally generated funds.
The company is funding development before establishing a meaningful sales base: FY2022 R&D spending was
The cost structure shifted toward corporate overhead: R&D was 1.4x SG&A in FY2025 versus 2.3x in FY2024, even as the annual net loss remained near
Financial Health Signals
Lexeo Therapeutics, 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.
Lexeo Therapeutics, 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.
Lexeo Therapeutics, Inc. reported a net loss of $100.0M while operations used $98.6M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Lexeo Therapeutics, Inc. reported an operating loss of $109.3M against $95K 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
Lexeo Therapeutics, Inc.'s EBITDA was -$27.9M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 8.8% from the same quarter a year earlier. Against the prior quarter it is down 25.5%.
Lexeo Therapeutics, Inc. reported -$25.9M in net income in Q2 2026. This represents an increase of 0.9% from the same quarter a year earlier. Against the prior quarter it is down 28.1%.
Lexeo Therapeutics, Inc. earned -$0.30 per diluted share (EPS) in Q2 2026. Against the prior quarter it is down 20.0%.
Not reported for Q2 2026.
Cash & Balance Sheet
Lexeo Therapeutics, Inc. recorded an outflow of $17.6M in free cash flow in Q2 2026, representing a cash shortfall after capex. Against the prior quarter it is up 16.9%.
Lexeo Therapeutics, Inc. held $92.8M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
Lexeo Therapeutics, Inc.'s ROE was -11.0% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 7.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.3 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Lexeo Therapeutics, Inc. invested $19.0M in research and development in Q2 2026. This represents an increase of 29.3% from the same quarter a year earlier. Against the prior quarter it is up 21.2%.
Lexeo Therapeutics, Inc. invested $7K in capex in Q2 2026, funding long-term assets and infrastructure. Against the prior quarter it is down 80.0%.
Not reported for Q2 2026.
LXEO 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 | $19.0M+29.3% | $15.7M-8.5% | N/A | $15.7M-33.0% | $14.7M-11.1% | $17.2M+9.1% | N/A | $23.4M+35.8% |
| SG&A Expenses | $9.0M-43.7% | $6.6M-60.1% | N/A | $6.0M-26.7% | $16.0M+128.4% | $16.6M+120.3% | N/A | $8.1M+168.3% |
| Operating Income | -$28.0M+8.7% | -$22.3M+33.9% | N/A | -$21.6M+31.4% | -$30.7M-30.3% | -$33.8M-45.1% | N/A | -$31.5M-55.6% |
| EBITDA | -$27.9M+8.8% | -$22.3M+34.0% | N/A | -$21.6M+31.4% | -$30.6M-30.5% | -$33.7M-45.3% | N/A | -$31.5M-55.8% |
| Interest Expense | $14K-44.0% | $17K-39.3% | N/A | $22K-37.1% | $25K-28.6% | $28K-24.3% | N/A | $35K-32.7% |
| Net Income | -$25.9M+0.9% | -$20.2M+38.2% | N/A | -$20.3M+31.2% | -$26.1M-22.9% | -$32.7M-50.6% | N/A | -$29.5M-46.7% |
| EPS (Basic) | -$0.30+50.0% | -$0.25+74.7% | -$0.14+82.1% | -$0.33+62.9% | -$0.60+6.3% | -$0.99-28.6% | -$0.78-103.9% | -$0.89+92.8% |
| EPS (Diluted) | -$0.30 | -$0.25 | -$0.14 | -$0.33 | -$0.60+6.3% | -$0.99-28.6% | -$0.78-103.9% | -$0.89 |
| Diluted Shares (Avg) | 86M | 81M | N/A | 61M | 44M+32.0% | 33M+18.3% | N/A | 33M |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Income Tax.
LXEO 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 | $254.9M+44.8% | $250.4M+99.2% | $268.7M+82.9% | $143.8M-17.3% | $176.1M-8.3% | $125.7M-41.0% | $146.9M+5.1% | $173.9M+217.7% |
| Current Assets | $217.9M+55.6% | $200.9M+90.8% | $188.4M+49.4% | $127.8M-19.9% | $140.1M-20.9% | $105.3M-46.9% | $126.1M+1.5% | $159.5M+310.2% |
| Cash & Equivalents | $92.8M+161.7% | $71.8M+148.2% | $63.0M+79.9% | $41.0M-73.9% | $35.5M-79.7% | $28.9M-85.2% | $35.0M-71.2% | $157.0M+342.9% |
| Short-Term Investments | $118.9M+22.0% | $121.3M+71.0% | $118.8M+37.3% | $81.8M | $97.4M | $70.9M | $86.5M | $0 |
| Long-Term Investments | $22.5M+14.6% | $34.5M+390.5% | $64.8M+824.1% | $0 | $19.6M | $7.0M | $7.0M | $0 |
| Total Liabilities | $19.8M-47.6% | $18.9M-49.8% | $22.0M-26.8% | $23.0M-33.4% | $37.9M+39.9% | $37.6M+24.2% | $30.1M+14.6% | $34.5M-84.1% |
| Current Liabilities | $15.7M-50.3% | $14.2M-54.0% | $16.8M-26.4% | $17.3M-35.6% | $31.6M+67.4% | $30.8M+42.5% | $22.8M+32.5% | $26.8M+16.4% |
| Non-Current Liabilities | $4.1M-33.8% | $4.7M-30.8% | $5.2M-28.2% | $5.7M-25.6% | $6.3M-23.5% | $6.8M-21.7% | $7.3M-19.7% | $7.7M-96.0% |
| Total Equity | $235.1M+70.1% | $231.5M+162.7% | $246.7M+111.1% | $120.8M-13.3% | $138.2M-16.2% | $88.1M-51.8% | $116.8M+2.9% | $139.3M+185.6% |
| Retained Earnings | -$426.2M-25.7% | -$400.3M-28.0% | -$380.1M-35.7% | -$359.2M-41.3% | -$338.9M-50.8% | -$312.8M-39.2% | -$280.2M-54.1% | -$254.2M-51.7% |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
LXEO 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 | -$17.6M+35.4% | -$21.1M+2.6% | -$20.1M+29.1% | -$29.5M-65.9% | -$27.2M-35.1% | -$21.7M-46.1% | -$28.3M-102.6% | -$17.8M-27.7% |
| Depreciation & Amortization | $74K+19.4% | $73K+21.7% | $73K-2.7% | $73K-12.0% | $62K-19.5% | $60K-13.0% | $75K-2.6% | $83K+6.4% |
| Stock-Based Compensation | $5.7M+85.3% | $2.8M-25.5% | N/A | $2.7M-30.1% | $3.1M+7.9% | $3.7M+58.6% | N/A | $3.8M+333.1% |
| Capital Expenditures | $7K | $35K | $0 | $289K+248.2% | N/A | N/A | $0-100.0% | $83K+2666.7% |
| Free Cash Flow | -$17.6M | -$21.2M | -$20.1M+29.1% | -$29.8M-66.8% | N/A | N/A | -$28.3M-101.6% | -$17.9M-28.2% |
| Investing Cash Flow | $14.3M+136.4% | $27.5M+76.0% | -$101.7M-8.7% | $35.0M+42281.9% | -$39.2M-17869.7% | $15.6M+8182.9% | -$93.6M-128095.9% | -$83K-56.6% |
| Financing Cash Flow | $24.4M-66.6% | $2.5M+22190.9% | $143.8M+148318.6% | $52K+172.2% | $73.0M+24972.2% | $11K-100.0% | -$97K-100.1% | -$72K-101.8% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
LXEO 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 | -11.0%+7.9pp | -8.7%+28.3pp | N/A | -16.8%+4.4pp | -18.9%-6.0pp | -37.1%-25.2pp | N/A | -21.2% |
| Return on Assets | -10.2%+4.7pp | -8.1%+17.9pp | N/A | -14.1%+2.9pp | -14.8%-3.8pp | -26.0%-15.8pp | N/A | -17.0%+19.8pp |
| Current Ratio | 13.89+9.5x | 14.16+10.7x | 11.21+5.7x | 7.40+1.5x | 4.43-5.0x | 3.42-5.7x | 5.52-1.7x | 5.95+4.3x |
| Debt-to-Equity | 0.08-0.2x | 0.08-0.3x | 0.09-0.2x | 0.19-0.1x | 0.27+0.1x | 0.43+0.3x | 0.260.0x | 0.25 |
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 |
|---|---|---|---|---|---|---|
| Lexeo Therapeutics, Inc. LXEO | FY2025 | N/A | -$100.0M | N/A | $216.7M | — |
| Monopar Therapeutics Inc. MNPR | FY2025 | $0 | -$13.7M | N/A | $465.0M | — |
| Omeros Corporation OMER | FY2025 | N/A | N/A | N/A | $1.2B | — |
| Capricor Therapeutics Inc CAPR | FY2025 | $0 | -$105.0M | N/A | $390.1M | — |
| Alector, Inc. ALEC | FY2025 | $21.0M | -$143.0M | N/A | $205.4M | 49/100 |
| Mereo BioPharma Group plc MREO | FY2025 | $500K | $41.9M | N/A | $48.4M | — |
Where Lexeo Therapeutics, Inc. Ranks
Frequently Asked Questions
Is Lexeo Therapeutics, Inc. profitable?
No, Lexeo Therapeutics, Inc. (LXEO) reported a net income of -$100.0M in fiscal year 2025.
What is Lexeo Therapeutics, Inc.'s EBITDA?
Lexeo Therapeutics, Inc. (LXEO) had EBITDA of -$109.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Lexeo Therapeutics, Inc.'s return on equity (ROE)?
Lexeo Therapeutics, Inc. (LXEO) has a return on equity of -40.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Lexeo Therapeutics, Inc.'s free cash flow?
Lexeo Therapeutics, Inc. (LXEO) recorded an outflow of $99.0M in free cash flow during fiscal year 2025. This represents a -21.2% 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 Lexeo Therapeutics, Inc.'s operating cash flow?
Lexeo Therapeutics, Inc. (LXEO) recorded an outflow of $98.6M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Lexeo Therapeutics, Inc.'s total assets?
Lexeo Therapeutics, Inc. (LXEO) had $268.7M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Lexeo Therapeutics, Inc.'s capital expenditures?
Lexeo Therapeutics, Inc. (LXEO) invested $397K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Lexeo Therapeutics, Inc. spend on research and development?
Lexeo Therapeutics, Inc. (LXEO) invested $63.8M in research and development during fiscal year 2025.
What is Lexeo Therapeutics, Inc.'s current ratio?
Lexeo Therapeutics, Inc. (LXEO) had a current ratio of 11.21 as of fiscal year 2025, which is generally considered healthy.
What is Lexeo Therapeutics, Inc.'s debt-to-equity ratio?
Lexeo Therapeutics, Inc. (LXEO) 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 Lexeo Therapeutics, Inc.'s return on assets (ROA)?
Lexeo Therapeutics, Inc. (LXEO) had a return on assets of -37.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Lexeo Therapeutics, Inc.'s P/E ratio?
Lexeo Therapeutics, Inc. (LXEO) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $216.7M as of Oct 17, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Lexeo Therapeutics, Inc.'s price-to-sales ratio?
Lexeo Therapeutics, Inc. (LXEO) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $216.7M as of Oct 17, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Lexeo Therapeutics, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Lexeo Therapeutics, Inc. (LXEO) held $246.6M in cash, cash equivalents and investments, and reported an operating cash outflow of $98.6M over that year. Dividing the one by the other, the reported balance equals about 30 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 Lexeo Therapeutics, Inc.'s Piotroski F-Score?
Lexeo Therapeutics, Inc. (LXEO) 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 Lexeo Therapeutics, Inc.'s earnings high quality?
Lexeo Therapeutics, Inc. (LXEO) reported a net loss of $100.0M while operations used $98.6M 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 Lexeo Therapeutics, Inc. cover its interest payments?
Lexeo Therapeutics, Inc. (LXEO) reported an operating loss of $109.3M against $95K 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.