Lyra Therapeutics, Inc. Financials
Lyra Therapeutics, Inc. (LYRA) reported $398K in revenue for fiscal year 2025, down 74.1% from the prior fiscal year. This page shows its 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).
Lyra’s research spending and cash burn rather than revenue determine how long the business can operate independently.
Losses fell because spending was cut, not because sales scaled: revenue slipped to$398K from$1.5M , while operating cash use also declined, so the improvement reflects a smaller research program rather than a stronger sales base. That matters because year-end cash covered only about 0.6x of annual operating cash use, with cash at$15.9M against operating cash outflow of-$28.9M .
The balance sheet shows short-term liquidity but weakened solvency: a current ratio of 1.7x suggests near-term obligations were covered, yet equity was
Lyra is not capital-intensive in a manufacturing sense: capital spending was just
Financial Health Signals
Lyra 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.
Lyra Therapeutics, Inc. passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
Lyra Therapeutics, Inc. reported a net loss of $28.9M while operations used $28.9M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Lyra Therapeutics, Inc. generated $398K in revenue in fiscal year 2025. This represents a decrease of 74.1% from the prior year.
Lyra Therapeutics, Inc.'s EBITDA was -$30.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 68.1% from the prior year.
Lyra Therapeutics, Inc. reported -$28.9M in net income in fiscal year 2025. This represents an increase of 69.0% from the prior year.
Lyra Therapeutics, Inc. earned -$18.62 per diluted share (EPS) in fiscal year 2025. This represents an increase of 74.0% from the prior year.
Cash & Balance Sheet
Lyra Therapeutics, Inc. recorded an outflow of $29.0M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents an increase of 60.0% from the prior year.
Lyra Therapeutics, Inc. held $15.9M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
Not reported for fiscal year 2025.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not reported for fiscal year 2025.
Capital Allocation
Lyra Therapeutics, Inc. invested $18.4M in research and development in fiscal year 2025. This represents a decrease of 57.9% from the prior year.
Lyra Therapeutics, Inc. invested $116K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 95.0% from the prior year.
Not reported for fiscal year 2025.
LYRA Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $7K-72.0% | $25K-86.3% | $183K0.0% | $183K-12.4% | $209K+7.2% | $195K-67.4% | $598K+12.4% | $532K |
| R&D Expenses | $4.4M+8.2% | $4.0M-20.8% | $5.1M+4.8% | $4.9M-23.4% | $6.4M+7.8% | $5.9M-55.5% | $13.3M-27.3% | $18.2M |
| SG&A Expenses | $2.5M+13.6% | $2.2M-36.1% | $3.5M+7.3% | $3.3M-9.7% | $3.6M-8.1% | $3.9M-23.5% | $5.1M-11.7% | $5.8M |
| Operating Income | -$7.1M-14.1% | -$6.2M+29.3% | -$8.8M+0.2% | -$8.8M+22.5% | -$11.4M+8.3% | -$12.4M+74.6% | -$49.0M-108.2% | -$23.5M |
| Income Tax | $2K-33.3% | $3K+50.0% | $2K-50.0% | $4K-33.3% | $6K-14.3% | $7K-41.7% | $12K-14.3% | $14K |
| Net Income | -$7.0M-16.2% | -$6.0M+19.5% | -$7.4M+13.0% | -$8.5M+22.2% | -$11.0M+7.5% | -$11.9M+75.3% | -$48.1M-114.4% | -$22.5M |
| EPS (Diluted) | -$3.77-11.5% | -$3.38+38.7% | -$5.51 | -$0.13+18.8% | -$0.16 | -$9.07+75.3% | -$36.76 | -$0.35 |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, Interest Expense.
LYRA Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $36.1M-17.4% | $43.7M-16.9% | $52.6M-6.6% | $56.3M-15.1% | $66.3M-15.8% | $78.8M-16.7% | $94.6M-33.2% | $141.5M |
| Current Assets | $16.3M-29.3% | $23.0M-25.9% | $31.1M-8.4% | $33.9M-21.2% | $43.0M-21.0% | $54.4M-21.6% | $69.4M-22.4% | $89.4M |
| Cash & Equivalents | $15.9M-27.9% | $22.1M-26.0% | $29.8M-6.1% | $31.7M-21.8% | $40.6M+70.5% | $23.8M-25.4% | $31.9M+101.9% | $15.8M |
| Total Liabilities | $46.8M-2.5% | $48.0M-5.7% | $51.0M-2.8% | $52.4M-4.2% | $54.8M-5.8% | $58.1M-8.6% | $63.6M-0.7% | $64.0M |
| Current Liabilities | $9.5M+0.4% | $9.5M-15.1% | $11.2M-2.7% | $11.5M-9.2% | $12.6M-15.5% | $15.0M-22.4% | $19.3M+2.9% | $18.7M |
| Total Equity | -$10.7M-147.6% | -$4.3M-366.8% | $1.6M-58.1% | $3.9M-66.6% | $11.6M-43.8% | $20.6M-33.4% | $31.0M-60.0% | $77.5M |
| Retained Earnings | -$433.7M-1.6% | -$426.8M-1.4% | -$420.8M-1.8% | -$413.3M-2.1% | -$404.8M-2.8% | -$393.8M-3.1% | -$381.9M-14.4% | -$333.8M |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
LYRA Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$6.1M+17.6% | -$7.4M-11.7% | -$6.6M+25.5% | -$8.8M+22.1% | -$11.4M+30.0% | -$16.2M+18.8% | -$20.0M+11.0% | -$22.5M |
| Capital Expenditures | $96K | $0 | N/A | N/A | -$58K+13.7% | $51K-74.0% | $196K-90.9% | $2.1M |
| Free Cash Flow | -$6.2M+16.3% | -$7.4M | N/A | N/A | -$11.4M+29.9% | -$16.3M+19.3% | -$20.2M+18.0% | -$24.6M |
| Investing Cash Flow | -$96K | $0 | N/A | N/A | $28.1M+245.5% | $8.1M-77.5% | $36.2M+360.4% | $7.9M |
| Financing Cash Flow | $0+100.0% | -$368K | N/A | N/A | -$1K+95.7% | -$23K+74.2% | -$89K-101.0% | $8.6M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
LYRA Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | -101685.7% | -24948.0% | -4822.9% | -4831.2% | -5458.4% | -6380.5% | -8189.6% | -4421.8% |
| Net Margin | -99300.0% | -23936.0% | -4063.9% | -4670.5% | -5253.1% | -6088.7% | -8048.7% | -4220.3% |
| Return on Equity | N/A | N/A | -458.5%-237.8pp | -220.7%-126.0pp | -94.7%-37.1pp | -57.6%+97.8pp | -155.4%-126.4pp | -29.0% |
| Return on Assets | -19.3%-5.6pp | -13.7%+0.5pp | -14.1%+1.0pp | -15.2%+1.4pp | -16.6%-1.5pp | -15.1%+35.8pp | -50.9%-35.0pp | -15.9% |
| Current Ratio | 1.71-0.7x | 2.43-0.4x | 2.78-0.2x | 2.96-0.5x | 3.41-0.2x | 3.640.0x | 3.60-1.2x | 4.78 |
| Debt-to-Equity | N/A | N/A | 31.41+17.9x | 13.54+8.8x | 4.72+1.9x | 2.82+0.8x | 2.05+1.2x | 0.83 |
| FCF Margin | -88028.6% | -29444.0% | N/A | N/A | -5459.3% | -8345.6% | -3374.1% | -4624.8% |
Not reported in any period shown, so not listed: Gross Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Note: Shareholder equity is negative (-$10.7M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
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Where Lyra Therapeutics, Inc. Ranks
Frequently Asked Questions
What is Lyra Therapeutics, Inc.'s annual revenue?
Lyra Therapeutics, Inc. (LYRA) reported $398K in total revenue for fiscal year 2025. This represents a -74.1% 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 Lyra Therapeutics, Inc.'s revenue growing?
Lyra Therapeutics, Inc. (LYRA) revenue declined by 74.1% year-over-year, from $1.5M to $398K in fiscal year 2025.
Is Lyra Therapeutics, Inc. profitable?
No, Lyra Therapeutics, Inc. (LYRA) reported a net income of -$28.9M in fiscal year 2025.
What is Lyra Therapeutics, Inc.'s EBITDA?
Lyra Therapeutics, Inc. (LYRA) had EBITDA of -$30.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Lyra Therapeutics, Inc.'s free cash flow?
Lyra Therapeutics, Inc. (LYRA) recorded an outflow of $29.0M in free cash flow during fiscal year 2025. This represents a 60.0% 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 Lyra Therapeutics, Inc.'s operating cash flow?
Lyra Therapeutics, Inc. (LYRA) recorded an outflow of $28.9M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Lyra Therapeutics, Inc.'s total assets?
Lyra Therapeutics, Inc. (LYRA) had $36.1M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Lyra Therapeutics, Inc.'s capital expenditures?
Lyra Therapeutics, Inc. (LYRA) invested $116K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Lyra Therapeutics, Inc. spend on research and development?
Lyra Therapeutics, Inc. (LYRA) invested $18.4M in research and development during fiscal year 2025.
What is Lyra Therapeutics, Inc.'s current ratio?
Lyra Therapeutics, Inc. (LYRA) had a current ratio of 1.71 as of fiscal year 2025, which is generally considered healthy.
What is Lyra Therapeutics, Inc.'s return on assets (ROA)?
Lyra Therapeutics, Inc. (LYRA) had a return on assets of -80.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
How does Lyra Therapeutics, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Lyra Therapeutics, Inc. (LYRA) held $15.9M in cash, cash equivalents and investments, and reported an operating cash outflow of $28.9M over that year. Dividing the one by the other, the reported balance equals about 7 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.
Why is Lyra Therapeutics, Inc.'s debt-to-equity ratio negative or not reported?
Lyra Therapeutics, Inc. (LYRA) has negative shareholder equity of -$10.7M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Lyra Therapeutics, Inc.'s Piotroski F-Score?
Lyra Therapeutics, Inc. (LYRA) has a Piotroski F-Score of 3 out of 7 computable signals; 2 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 Lyra Therapeutics, Inc.'s earnings high quality?
Lyra Therapeutics, Inc. (LYRA) reported a net loss of $28.9M while operations used $28.9M 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.