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).
MAIA’s equity-funded cash burn persists, while the expense mix shifts away from research and toward corporate overhead.
In FY2025,$17.9M of financing inflow almost covered-$18.8M of operating cash burn, showing the business is still being funded from outside rather than from operations. At the same time, R&D spending fell from$10.0M to$454K , which means the cost base is now far more administrative than research-heavy.
The losses are cash-real: FY2025 operating cash outflow of
Repeated equity issuance is visible in the rising share count and positive financing cash flow, which is how the company has replaced cash consumed by operations. Reported cash was
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of MAIA Biotechnology Inc.'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.
MAIA Biotechnology Inc. has a moderate D/E ratio of 3.08. This balance of debt and equity financing earns a leverage score of 39/100.
MAIA Biotechnology Inc.'s current ratio of 1.66 is below the typical benchmark, resulting in a score of 29/100. This tight liquidity could limit financial flexibility if cash inflows slow.
MAIA Biotechnology Inc. generates a -942.7% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -639.8% the prior year.
MAIA Biotechnology Inc. passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
For every $1 of reported earnings, MAIA Biotechnology Inc. generates $0.84 in operating cash flow (-$18.8M OCF vs -$22.4M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
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. This represents an increase of 33.3% from the prior year.
Cash & Balance Sheet
MAIA Biotechnology Inc. held $0 in cash against $0 in long-term debt as of fiscal year 2025.
MAIA Biotechnology Inc. had 39M shares outstanding in fiscal year 2025. This represents an increase of 47.7% from the prior year.
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.
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.
MAIA Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | $44K | N/A | $6.4M+104.4% | $3.1M-2.7% | $3.2M | N/A | $2.7M+30.0% | $2.1M |
| SG&A Expenses | $3.4M | N/A | $3.0M+46.1% | $2.1M-7.8% | $2.2M | N/A | $1.5M-13.7% | $1.8M |
| Operating Income | -$6.9M | N/A | -$9.4M-81.2% | -$5.2M+4.8% | -$5.4M | N/A | -$4.2M-9.8% | -$3.8M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | $85 | N/A |
| Income Tax | $339 | N/A | N/A | N/A | $0 | N/A | N/A | N/A |
| Net Income | -$6.4M | N/A | -$8.9M-66.5% | -$5.3M-18.4% | -$4.5M | N/A | -$2.7M+69.2% | -$8.9M |
| EPS (Diluted) | $-0.14 | N/A | $-0.27-50.0% | $-0.18-12.5% | $-0.16 | N/A | $-0.11+72.5% | $-0.40 |
MAIA Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $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-23.1% | $12.0M |
| Current Assets | $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-23.1% | $12.0M |
| Cash & Equivalents | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $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-13.9% | $8.9M |
| Current Liabilities | $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+2.8% | $3.5M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $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-48.8% | $3.2M |
| Retained Earnings | -$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-3.4% | -$80.9M |
MAIA Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$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+24.8% | -$4.7M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Financing Cash Flow | $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-92.2% | $8.0M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
MAIA Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | -22.9% | N/A | -21365.9%-21228.0pp | -137.9%-46.5pp | -91.4% | N/A | -169.0%+111.8pp | -280.8% |
| Return on Assets | -18.0% | N/A | -75.6%-27.2pp | -48.4%-10.3pp | -38.1% | N/A | -29.6%+44.3pp | -73.9% |
| Current Ratio | 5.59+3.9 | 1.66+0.5 | 1.18-1.0 | 2.19-0.2 | 2.35-0.3 | 2.65+0.1 | 2.56-0.9 | 3.42 |
| Debt-to-Equity | 0.27-2.8 | 3.08-278.7 | 281.75+279.9 | 1.85+0.4 | 1.40-0.4 | 1.79-2.9 | 4.71+1.9 | 2.80 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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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) generated -$18.8M in operating cash flow during fiscal year 2025, representing cash generated from 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.
What is MAIA Biotechnology Inc.'s cash runway?
Based on fiscal year 2025 data, MAIA Biotechnology Inc. (MAIA) had $0 in cash against an annual operating cash burn of $18.8M. This gives an estimated cash runway of approximately 0 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is MAIA Biotechnology Inc.'s Piotroski F-Score?
MAIA Biotechnology Inc. (MAIA) has a Piotroski F-Score of 1 out of 9, indicating weak financial health. 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) has an earnings quality ratio of 0.84x, considered low quality (accrual-driven). 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.
How financially healthy is MAIA Biotechnology Inc.?
MAIA Biotechnology Inc. (MAIA) scores 11 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.