MBX Biosciences Inc Financials
This page shows MBX Biosciences Inc (MBX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 3 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).
MBX’s dominant mechanic is externally funded R&D expansion: rising investment and losses are financed through capital rather than operating cash.
The share count rose from 33.4M in FY2024 to 44.9M in FY2025, alongside financing inflows of$189.6M . With operating cash flow still negative, the balance sheet’s growing liquidity is being supplied externally rather than generated by the business.
R&D spending increased from
FY2025 operating cash flow of
Financial Health Signals
MBX Biosciences 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.
MBX Biosciences 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.
MBX Biosciences Inc reported a net loss of $87.0M while operations used $79.9M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
MBX Biosciences Inc's EBITDA was -$97.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 43.9% from the prior year.
MBX Biosciences Inc reported -$87.0M in net income in fiscal year 2025. This represents a decrease of 40.5% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
MBX Biosciences Inc recorded an outflow of $81.9M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 47.4% from the prior year.
MBX Biosciences Inc held $75.3M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
MBX Biosciences Inc's ROE was -23.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.5 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
MBX Biosciences Inc invested $79.2M in research and development in fiscal year 2025. This represents an increase of 37.9% from the prior year.
MBX Biosciences Inc invested $1.9M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 120.7% from the prior year.
Not reported for fiscal year 2025.
MBX Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 |
|---|---|---|---|---|
| R&D Expenses | N/A | $79.2M+37.9% | $57.4M+101.2% | $28.5M |
| SG&A Expenses | N/A | $18.9M+75.3% | $10.8M+59.1% | $6.8M |
| Operating Income | N/A | -$98.1M-43.8% | -$68.2M-93.1% | -$35.3M |
| Income Tax | N/A | $0 | $0 | $0 |
| Net Income | N/A | -$87.0M-40.5% | -$61.9M-90.2% | -$32.6M |
| EPS (Diluted) | — | -$2.38 | -$5.82 | -$31.96 |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Interest Expense.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
MBX Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 |
|---|---|---|---|
| Total Assets | $385.1M+43.4% | $268.5M+219.0% | $84.2M |
| Current Assets | $381.5M+42.7% | $267.3M+220.2% | $83.5M |
| Cash & Equivalents | $75.3M+52.6% | $49.4M+61.7% | $30.5M |
| Total Liabilities | $15.9M+43.5% | $11.1M-92.9% | $156.6M |
| Current Liabilities | $15.5M+40.2% | $11.1M+181.5% | $3.9M |
| Total Equity | $369.2M+43.4% | $257.4M+455.2% | -$72.5M |
| Retained Earnings | -$224.5M-63.2% | -$137.5M-81.9% | -$75.6M |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
MBX 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 | TTM | FY25 | FY24 | FY23 |
|---|---|---|---|---|
| Operating Cash Flow | -$82.7M | -$79.9M-46.2% | -$54.7M-71.0% | -$32.0M |
| Capital Expenditures | $2.5M | $1.9M+120.7% | $874K+577.5% | $129K |
| Free Cash Flow | -$85.2M | -$81.9M-47.4% | -$55.6M-73.0% | -$32.1M |
| Investing Cash Flow | -$180.8M | -$83.7M+47.9% | -$160.6M-419.3% | -$30.9M |
| Financing Cash Flow | $278.0M | $189.6M-19.0% | $234.1M+238.2% | $69.2M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
MBX Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 |
|---|---|---|---|
| Return on Equity | -23.6%+0.5pp | -24.1% | N/A |
| Return on Assets | -22.6%+0.5pp | -23.1%+15.6pp | -38.7% |
| Current Ratio | 24.62+0.4x | 24.19+2.9x | 21.26 |
| Debt-to-Equity | 0.040.0x | 0.04 | N/A |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, FCF Margin.
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Where MBX Biosciences Inc Ranks
Frequently Asked Questions
Is MBX Biosciences Inc profitable?
No, MBX Biosciences Inc (MBX) reported a net income of -$87.0M in fiscal year 2025.
What is MBX Biosciences Inc's EBITDA?
MBX Biosciences Inc (MBX) had EBITDA of -$97.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is MBX Biosciences Inc's return on equity (ROE)?
MBX Biosciences Inc (MBX) has a return on equity of -23.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is MBX Biosciences Inc's free cash flow?
MBX Biosciences Inc (MBX) recorded an outflow of $81.9M in free cash flow during fiscal year 2025. This represents a -47.4% 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 MBX Biosciences Inc's operating cash flow?
MBX Biosciences Inc (MBX) recorded an outflow of $79.9M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are MBX Biosciences Inc's total assets?
MBX Biosciences Inc (MBX) had $385.1M in total assets as of fiscal year 2025, including both current and long-term assets.
What are MBX Biosciences Inc's capital expenditures?
MBX Biosciences Inc (MBX) invested $1.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does MBX Biosciences Inc spend on research and development?
MBX Biosciences Inc (MBX) invested $79.2M in research and development during fiscal year 2025.
What is MBX Biosciences Inc's current ratio?
MBX Biosciences Inc (MBX) had a current ratio of 24.62 as of fiscal year 2025, which is generally considered healthy.
What is MBX Biosciences Inc's debt-to-equity ratio?
MBX Biosciences Inc (MBX) had a debt-to-equity ratio of 0.04 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is MBX Biosciences Inc's return on assets (ROA)?
MBX Biosciences Inc (MBX) had a return on assets of -22.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is MBX Biosciences Inc's cash runway?
Based on fiscal year 2025 data, MBX Biosciences Inc (MBX) had $75.3M in cash against an annual operating cash burn of $79.9M. This gives an estimated cash runway of approximately 11 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 MBX Biosciences Inc's Piotroski F-Score?
MBX Biosciences Inc (MBX) 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 MBX Biosciences Inc's earnings high quality?
MBX Biosciences Inc (MBX) reported a net loss of $87.0M while operations used $79.9M 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.