MAIA Biotechnology Inc. Financials
This page shows MAIA Biotechnology Inc. (MAIA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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).
External financing is sustaining a development-stage operation as losses persist and balance-sheet flexibility narrows.
In FY2025, operating cash outflow of-$18.8M was nearly matched by$17.9M of financing inflow, making outside capital the practical source of funding for operations. That pattern coincided with shares rising from 29.6M in FY2024 to 60.7M in FY2025, so the funding mechanism expanded the equity base while reducing each existing share’s proportional claim.
R&D spending fell to
FY2025 debt-to-equity of 3.1x and a current ratio of 1.7x point to heavier obligations and less short-term cushion than the prior year. Together, those movements describe a financing structure increasingly dependent on liabilities rather than equity.
Financial Health Signals
MAIA Biotechnology 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.
MAIA Biotechnology 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).
MAIA Biotechnology Inc. reported a net loss of $22.4M while operations used $18.8M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
MAIA Biotechnology Inc. reported -$22.4M in net income in fiscal year 2025. This represents an increase of 3.7% from the prior year.
MAIA Biotechnology Inc. earned -$0.70 per diluted share (EPS) in fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Cash & Balance Sheet
MAIA Biotechnology Inc. held $0 in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
MAIA Biotechnology Inc.'s ROE was -942.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 302.8 percentage points from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
MAIA Biotechnology Inc. invested $454K in research and development in fiscal year 2025. This represents a decrease of 95.5% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
MAIA Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| R&D Expenses | $5.6M+12819.9% | $44K | N/A | $6.4M+104.4% | $3.1M-2.7% | $3.2M | N/A | $2.7M |
| SG&A Expenses | $2.7M-21.8% | $3.4M | N/A | $3.0M+46.1% | $2.1M-7.8% | $2.2M | N/A | $1.5M |
| Operating Income | -$8.3M-19.7% | -$6.9M | N/A | -$9.4M-81.2% | -$5.2M+4.8% | -$5.4M | N/A | -$4.2M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $85 |
| Income Tax | N/A | $339 | N/A | N/A | N/A | $0 | N/A | N/A |
| Net Income | -$7.9M-24.7% | -$6.4M | N/A | -$8.9M-66.5% | -$5.3M-18.4% | -$4.5M | N/A | -$2.7M |
| EPS (Diluted) | -$0.13+7.1% | -$0.14-75.0% | -$0.08+70.4% | -$0.27-50.0% | -$0.18-12.5% | -$0.16-33.3% | -$0.12-9.1% | -$0.11 |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit.
MAIA Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $28.2M-20.1% | $35.3M+264.0% | $9.7M-17.6% | $11.8M+6.7% | $11.0M-6.9% | $11.9M+16.8% | $10.2M+9.9% | $9.2M |
| Current Assets | $28.2M-20.0% | $35.3M+264.0% | $9.7M-17.5% | $11.8M+6.4% | $11.0M-6.9% | $11.9M+16.8% | $10.2M+9.9% | $9.2M |
| Cash & Equivalents | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $7.6M+0.1% | $7.6M+3.2% | $7.3M-37.6% | $11.7M+63.8% | $7.2M+3.6% | $6.9M+6.2% | $6.5M-14.5% | $7.6M |
| Current Liabilities | $6.3M-1.0% | $6.3M+8.3% | $5.8M-41.6% | $10.0M+98.1% | $5.0M-0.3% | $5.1M+32.0% | $3.8M+6.1% | $3.6M |
| Total Equity | $20.7M-25.5% | $27.8M+1068.5% | $2.4M+5601.6% | $42K-98.9% | $3.9M-21.6% | $4.9M+36.0% | $3.6M+124.6% | $1.6M |
| Retained Earnings | -$123.9M-6.8% | -$116.0M-5.8% | -$109.6M-3.4% | -$106.0M-9.2% | -$97.1M-5.8% | -$91.8M-5.2% | -$87.2M-4.3% | -$83.7M |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
MAIA 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 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$6.8M-27.1% | -$5.3M+24.3% | -$7.0M-101.4% | -$3.5M+15.7% | -$4.1M+1.6% | -$4.2M-7.5% | -$3.9M-10.9% | -$3.5M |
| Financing Cash Flow | -$65K-100.2% | $31.1M+546.6% | $4.8M+13.4% | $4.2M+24.3% | $3.4M-37.6% | $5.5M+12.7% | $4.8M+673.0% | $627K |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Investing Cash Flow, Dividends Paid, Share Buybacks.
MAIA Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | -38.4%-15.5pp | -22.9% | N/A | -21365.9%-21228.0pp | -137.9%-46.5pp | -91.4% | N/A | -169.0% |
| Return on Assets | -28.1%-10.1pp | -18.0% | N/A | -75.6%-27.2pp | -48.4%-10.3pp | -38.1% | N/A | -29.6% |
| Current Ratio | 4.51-1.1x | 5.59+3.9x | 1.66+0.5x | 1.18-1.0x | 2.19-0.2x | 2.35-0.3x | 2.65+0.1x | 2.56 |
| Debt-to-Equity | 0.37+0.1x | 0.27-2.8x | 3.08-278.7x | 281.75+279.9x | 1.85+0.4x | 1.40-0.4x | 1.79-2.9x | 4.71 |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, FCF Margin.
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Where MAIA Biotechnology Inc. Ranks
Frequently Asked Questions
Is MAIA Biotechnology Inc. profitable?
No, MAIA Biotechnology Inc. (MAIA) reported a net income of -$22.4M in fiscal year 2025.
What is MAIA Biotechnology Inc.'s return on equity (ROE)?
MAIA Biotechnology Inc. (MAIA) has a return on equity of -942.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is MAIA Biotechnology Inc.'s operating cash flow?
MAIA Biotechnology Inc. (MAIA) recorded an outflow of $18.8M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are MAIA Biotechnology Inc.'s total assets?
MAIA Biotechnology Inc. (MAIA) had $9.7M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does MAIA Biotechnology Inc. spend on research and development?
MAIA Biotechnology Inc. (MAIA) invested $454K in research and development during fiscal year 2025.
What is MAIA Biotechnology Inc.'s current ratio?
MAIA Biotechnology Inc. (MAIA) had a current ratio of 1.66 as of fiscal year 2025, which is generally considered healthy.
What is MAIA Biotechnology Inc.'s debt-to-equity ratio?
MAIA Biotechnology Inc. (MAIA) had a debt-to-equity ratio of 3.08 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is MAIA Biotechnology Inc.'s return on assets (ROA)?
MAIA Biotechnology Inc. (MAIA) had a return on assets of -230.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
How does MAIA Biotechnology Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, MAIA Biotechnology Inc. (MAIA) held $0 in cash, cash equivalents and investments, and reported an operating cash outflow of $18.8M over that year. Dividing the one by the other, the reported balance equals about 0 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 MAIA Biotechnology Inc.'s Piotroski F-Score?
MAIA Biotechnology Inc. (MAIA) 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 MAIA Biotechnology Inc.'s earnings high quality?
MAIA Biotechnology Inc. (MAIA) reported a net loss of $22.4M while operations used $18.8M 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.