Lexeo Therapeutics Inc 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 2, 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’s development model converts external financing into cash-funded research, with equity—not debt—carrying the balance sheet.
The 2025 cash pattern shows the business funded its development effort externally: financing cash flow of$216.8M more than offset operating cash flow of-$98.6M . The simultaneous rise in shares outstanding from 33.2M in FY2024 to 74.1M in FY2025 supports an equity-led funding model, rather than growth financed mainly through debt.
In FY2025, research and development was
The balance sheet shifted from negative equity in FY2022 to
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 (Diluted) | -$0.30 | -$0.25 | -$0.14 | -$0.33 | -$0.60+6.3% | -$0.99-28.6% | -$0.78-103.9% | -$0.89 |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Income Tax, EPS (Basic), Diluted Shares (Avg).
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% |
| 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, Non-Current Liabilities, 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% |
| 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: Stock-Based Compensation, 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 | $385.6M | — |
| Monopar Therapeutics Inc MNPR | FY2025 | $0 | -$13.7M | N/A | $751.3M | — |
| Omeros OMER | FY2025 | N/A | N/A | N/A | $1.4B | — |
| Capricor Therapeutics Inc CAPR | FY2025 | $0 | -$105.0M | N/A | $576.2M | — |
| Alector ALEC | FY2025 | $21.0M | -$143.0M | N/A | $252.3M | 48/100 |
| Mereo Biopharma MREO | FY2025 | $500K | $41.9M | N/A | $42.6M | — |
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 $385.6M as of Sep 2, 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 $385.6M as of Sep 2, 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.