Mei Pharma Inc Financials

MEIP

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE June

This page shows Mei Pharma Inc (MEIP) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 24 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).

Financial Health Signals

Piotroski F-Score Weak

2/9

Mei Pharma Inc passes 2 of 9 financial strength tests. No profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Low Quality

1.31x

For every $1 of reported earnings, Mei Pharma Inc generates $1.31 in operating cash flow (-$20.8M OCF vs -$15.9M 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

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Revenue

YoY-100.0%

Mei Pharma Inc generated $0 in revenue in fiscal year 2025. This represents a decrease of 100.0% from the prior year.

EBITDA

-$17.1M

YoY-214.5%

Mei Pharma Inc's EBITDA was -$17.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 214.5% from the prior year.

Free Cash Flow

-$20.8M

YoY+58.7%

Mei Pharma Inc generated -$20.8M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 58.7% from the prior year.

Net Income

-$15.9M

YoY-189.7%

Mei Pharma Inc reported -$15.9M in net income in fiscal year 2025. This represents a decrease of 189.7% from the prior year.

EPS (Diluted)

$-2.39

YoY-189.5%

Mei Pharma Inc earned $-2.39 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 189.5% from the prior year.

Cash & Debt

$18.0M

YoY+386.1%

5Y CAGR+7.9%

10Y CAGR-0.4%

Mei Pharma Inc held $18.0M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

YoY+0.0%

Mei Pharma Inc had 7M shares outstanding in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

R&D Spending

$3.9M

YoY-76.3%

5Y CAGR-35.1%

10Y CAGR-16.5%

Mei Pharma Inc invested $3.9M in research and development in fiscal year 2025. This represents a decrease of 76.3% from the prior year.

Share Buybacks

N/A

Capital Expenditures

YoY-100.0%

Mei Pharma Inc invested $0 in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 100.0% from the prior year.

MEIP Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$0-100.0%	$65.3M+33.8%	$48.8M+19.9%	$40.7M+17.0%	$34.8M+25.4%	$27.8M
Cost of Revenue	N/A	N/A	N/A	$0-100.0%	$1.4M-47.3%	$2.7M
Gross Profit	N/A	N/A	N/A	$40.7M+21.9%	$33.4M+33.1%	$25.1M
R&D Expenses	$3.9M-76.3%	$16.6M-68.4%	$52.5M-38.8%	$85.6M+23.4%	$69.4M+103.7%	$34.1M
SG&A Expenses	$13.5M-41.9%	$23.3M-29.7%	$33.1M+8.5%	$30.5M+25.1%	$24.4M+46.0%	$16.7M
Operating Income	-$17.5M-220.0%	$14.5M+139.6%	-$36.8M+51.3%	-$75.5M-24.9%	-$60.4M-135.1%	-$25.7M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$0	$0	$0	$0-100.0%	$8K+700.0%	$1K
Net Income	-$15.9M-189.7%	$17.8M+155.6%	-$32.0M+40.7%	-$54.0M-31.7%	-$41.0M+13.1%	-$47.2M
EPS (Diluted)	$-2.39-189.5%	$2.67+155.9%	$-4.78	$-9.99-1565.0%	$-0.60-15.4%	$-0.52

Metric	Q2'25	Q3'25	Q1'25	Q2'24	Q2'23	Q3'24	Q1'24	Q2'22
Revenue	$60K	$0	$0-100.0%	$32.7M+176.7%	$11.8M+100.7%	$5.9M-32.5%	$8.7M-30.7%	$12.6M
Cost of Revenue	N/A	N/A	N/A	N/A	$0	N/A	N/A	$494K
Gross Profit	N/A	N/A	N/A	N/A	$11.8M	N/A	N/A	$12.1M
R&D Expenses	$46K-87.5%	$369K-88.3%	$3.2M-79.3%	$15.3M-28.9%	$21.5M+42.6%	$15.1M-22.4%	$19.5M-12.4%	$22.2M
SG&A Expenses	$3.3M+37.4%	$2.4M-53.7%	$5.2M-38.9%	$8.5M+7.2%	$7.9M+10.4%	$7.2M-4.1%	$7.5M+32.5%	$5.7M
Operating Income	-$29.9M-976.7%	-$2.8M+66.8%	-$8.4M-193.6%	$8.9M+150.6%	-$17.6M-7.5%	-$16.4M+10.0%	-$18.2M-15.5%	-$15.8M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$30.8M-1097.0%	-$2.6M+67.9%	-$8.0M-178.1%	$10.3M+184.3%	-$12.2M+21.3%	-$15.4M+7.1%	-$16.6M-107.1%	-$8.0M
EPS (Diluted)	$-0.82	$-0.39+67.5%	$-1.20-177.9%	$1.54+1200.0%	$-0.14+94.0%	$-2.32	$-2.49-1815.4%	$-0.13

MEIP Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$18.3M-55.8%	$41.4M-65.8%	$120.8M-32.1%	$177.8M+2.1%	$174.1M-17.0%	$209.7M
Current Assets	$18.3M-55.1%	$40.8M-62.1%	$107.5M-35.7%	$167.1M+1.4%	$164.8M-21.0%	$208.6M
Cash & Equivalents	$18.0M+386.1%	$3.7M-78.1%	$16.9M+7.4%	$15.7M+84.2%	$8.5M-30.7%	$12.3M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$0	$0	$0	$0	$0	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.4M-83.8%	$8.4M-91.3%	$96.2M-23.3%	$125.4M+0.6%	$124.6M-6.1%	$132.7M
Current Liabilities	$1.4M-83.8%	$8.4M-58.9%	$20.3M-16.8%	$24.4M+20.9%	$20.2M+46.9%	$13.8M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$16.9M-48.7%	$33.0M+34.1%	$24.6M-53.0%	$52.4M+6.0%	$49.5M-35.8%	$77.1M
Retained Earnings	-$404.2M-4.1%	-$388.2M+4.4%	-$406.0M-8.5%	-$374.2M-17.0%	-$319.7M-14.8%	-$278.4M

Metric	Q2'25	Q3'25	Q1'25	Q2'24	Q2'23	Q3'24	Q1'24	Q2'22
Total Assets	$82.9M+299.1%	$20.8M-25.1%	$27.8M-32.9%	$41.4M-65.8%	$120.8M-10.0%	$134.2M-18.0%	$163.6M-8.0%	$177.8M
Current Assets	$10.9M-47.5%	$20.8M-25.1%	$27.7M-31.9%	$40.8M-62.1%	$107.5M-10.8%	$120.5M-19.1%	$148.9M-10.9%	$167.1M
Cash & Equivalents	$8.8M-57.2%	$20.5M+194.5%	$7.0M+87.6%	$3.7M-78.1%	$16.9M+91.9%	$8.8M-39.9%	$14.7M-6.9%	$15.7M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$0	$0	$0	$0	$0	N/A	N/A	$0
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.1M-12.2%	$1.2M-56.9%	$2.9M-65.6%	$8.4M-91.3%	$96.2M-3.7%	$99.8M-20.9%	$126.3M+0.7%	$125.4M
Current Liabilities	$1.1M-12.2%	$1.2M-56.9%	$2.9M-65.6%	$8.4M-58.9%	$20.3M-13.9%	$23.6M+0.8%	$23.4M-4.1%	$24.4M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$81.8M+318.9%	$19.5M-21.5%	$24.9M-24.7%	$33.0M+34.1%	$24.6M-28.3%	$34.4M-7.9%	$37.3M-28.8%	$52.4M
Retained Earnings	-$438.6M-9.2%	-$401.5M-1.3%	-$396.2M-2.1%	-$388.2M+4.4%	-$406.0M-2.5%	-$396.0M-1.3%	-$390.8M-4.4%	-$374.2M

MEIP Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$20.8M+58.7%	-$50.5M+3.8%	-$52.5M-7.7%	-$48.7M-52.5%	-$32.0M-193.3%	$34.3M
Capital Expenditures	$0-100.0%	$7K-80.0%	$35K-92.7%	$479K-32.3%	$708K-20.8%	$894K
Free Cash Flow	-$20.8M+58.7%	-$50.5M+3.9%	-$52.5M-6.7%	-$49.2M-50.7%	-$32.7M-197.9%	$33.4M
Investing Cash Flow	$35.1M-28.5%	$49.1M-8.5%	$53.7M+679.0%	$6.9M-72.1%	$24.7M+123.2%	-$106.3M
Financing Cash Flow	$0+100.0%	-$11.9M-29570.0%	-$40K-100.1%	$49.1M+1314.4%	$3.5M-95.4%	$74.8M
Dividends Paid	$0-100.0%	$11.7M	$0	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'25	Q3'25	Q1'25	Q2'24	Q2'23	Q3'24	Q1'24	Q2'22
Operating Cash Flow	-$1.9M+41.0%	-$3.3M+71.5%	-$11.4M+36.4%	-$18.0M-59.3%	-$11.3M+6.8%	-$12.1M+17.9%	-$14.8M+4.7%	-$15.5M
Capital Expenditures	$0	$0	$0	$0-100.0%	$51K	N/A	$63K-79.4%	$306K
Free Cash Flow	-$2.5M+24.7%	-$3.3M+82.3%	-$18.5M-2.7%	-$18.0M-108.9%	-$8.6M	N/A	-$14.8M+6.1%	-$15.8M
Investing Cash Flow	$569K	$0-100.0%	$14.7M-24.8%	$19.5M+0.8%	$19.4M+93.5%	$10.0M-27.0%	$13.7M-31.7%	$20.1M
Financing Cash Flow	$5K	$0	$0+100.0%	-$208K	$0	$0+100.0%	-$40K-300.0%	$20K
Dividends Paid	$0	$0	N/A	$0	$0	$0	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

MEIP Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	100.0%+4.0pp	96.0%+5.6pp	90.4%
Operating Margin	N/A	22.3%+97.6pp	-75.3%+110.2pp	-185.5%-11.8pp	-173.7%-81.1pp	-92.6%
Net Margin	N/A	27.2%+92.8pp	-65.5%+67.1pp	-132.7%-14.9pp	-117.8%+52.1pp	-170.0%
Return on Equity	N/A	53.8%	N/A	N/A	N/A	N/A
Return on Assets	-87.2%-130.2pp	43.0%+69.5pp	-26.5%+3.9pp	-30.4%-6.8pp	-23.5%-1.1pp	-22.5%
Current Ratio	13.50+8.6	4.88-0.4	5.29-1.6	6.84-1.3	8.15-7.0	15.17
Debt-to-Equity	0.08-0.2	0.25-3.7	3.91+1.5	2.39-0.1	2.52+0.8	1.72
FCF Margin	N/A	-77.3%+30.3pp	-107.6%+13.4pp	-121.0%-27.1pp	-93.9%-214.1pp	120.2%

Metric	Q2'25	Q3'25	Q1'25	Q2'24	Q2'23	Q3'24	Q1'24	Q2'22
Gross Margin	N/A	N/A	N/A	N/A	100.0%	N/A	N/A	96.1%
Operating Margin	-49778.3%	N/A	84.7%+57.4pp	27.3%+176.2pp	-149.0%+129.1pp	-278.1%-69.4pp	-208.7%-83.5pp	-125.2%
Net Margin	-51331.7%	N/A	86.3%+55.0pp	31.3%+134.1pp	-102.7%+159.2pp	-261.9%-71.5pp	-190.4%-126.7pp	-63.7%
Return on Equity	N/A	N/A	69.3%+48.1pp	21.2%	N/A	N/A	N/A	N/A
Return on Assets	-37.1%-24.8pp	-12.4%+16.5pp	-28.8%-35.8pp	7.0%+12.8pp	-5.8%+5.7pp	-11.5%-1.3pp	-10.2%-6.2pp	-3.9%
Current Ratio	10.04-6.7	16.78+7.1	9.66+4.8	4.88-0.4	5.29+0.2	5.10-1.3	6.35-0.5	6.84
Debt-to-Equity	0.01-0.1	0.06-0.1	0.12-0.1	0.25-3.7	3.91+1.0	2.91-0.5	3.38+1.0	2.39
FCF Margin	N/A	N/A	-28.3%	N/A	-72.8%	N/A	-170.0%-201.8pp	31.7%

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Frequently Asked Questions

What is Mei Pharma Inc's annual revenue?

Mei Pharma Inc (MEIP) reported $0 in total revenue for fiscal year 2025. This represents a -100.0% 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 Mei Pharma Inc's revenue growing?

Mei Pharma Inc (MEIP) revenue declined by 100% year-over-year, from $65.3M to $0 in fiscal year 2025.

Is Mei Pharma Inc profitable?

No, Mei Pharma Inc (MEIP) reported a net income of -$15.9M in fiscal year 2025.

What is Mei Pharma Inc's earnings per share (EPS)?

Mei Pharma Inc (MEIP) reported diluted earnings per share of $-2.39 for fiscal year 2025. This represents a -189.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Mei Pharma Inc's EBITDA?

Mei Pharma Inc (MEIP) had EBITDA of -$17.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Mei Pharma Inc's free cash flow?

Mei Pharma Inc (MEIP) generated -$20.8M in free cash flow during fiscal year 2025. This represents a 58.7% 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 Mei Pharma Inc's operating cash flow?

Mei Pharma Inc (MEIP) generated -$20.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Mei Pharma Inc's total assets?

Mei Pharma Inc (MEIP) had $18.3M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Mei Pharma Inc's capital expenditures?

Mei Pharma Inc (MEIP) invested $0 in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Mei Pharma Inc spend on research and development?

Mei Pharma Inc (MEIP) invested $3.9M in research and development during fiscal year 2025.

How many shares does Mei Pharma Inc have outstanding?

Mei Pharma Inc (MEIP) had 7M shares outstanding as of fiscal year 2025.

What is Mei Pharma Inc's current ratio?

Mei Pharma Inc (MEIP) had a current ratio of 13.50 as of fiscal year 2025, which is generally considered healthy.

What is Mei Pharma Inc's debt-to-equity ratio?

Mei Pharma Inc (MEIP) had a debt-to-equity ratio of 0.08 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Mei Pharma Inc's return on assets (ROA)?

Mei Pharma Inc (MEIP) had a return on assets of -87.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Mei Pharma Inc's cash runway?

Based on fiscal year 2025 data, Mei Pharma Inc (MEIP) had $18.0M in cash against an annual operating cash burn of $20.8M. This gives an estimated cash runway of approximately 10 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 Mei Pharma Inc's Piotroski F-Score?

Mei Pharma Inc (MEIP) has a Piotroski F-Score of 2 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Mei Pharma Inc's earnings high quality?

Mei Pharma Inc (MEIP) has an earnings quality ratio of 1.31x, 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.