Mesoblast (MEOBF) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Nov 4, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 20-F for FY2026, filed Aug 27, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the MEOBF SEC filings page.
Mesoblast Ltd (MEOBF) reported $120.3M in revenue for fiscal year 2026, up 599.2% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 11 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 (20-F and 6-K reports).
The business has reached reported revenue scale, but heavy development spending still prevents gross profit from becoming net profit.
In FY2026, gross profit was$103.6M , yet the company recorded a net loss of$57.5M . Operating cash flow was-$43.8M , so gross profit has not yet translated into cash generation; the gap points to substantial non-cash accounting items and other timing effects.
Revenue reached
Liabilities rose
Financial Health Signals
We do not publish a peer-relative financial health score for Mesoblast Ltd, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. The signals and metrics below are current.
Mesoblast Ltd passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
Mesoblast Ltd reported a net loss of $57.5M while operations used $43.8M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Mesoblast Ltd generated $120.3M in revenue in fiscal year 2026. This represents an increase of 599.2% from the prior year.
Mesoblast Ltd reported a net loss of $57.5M in fiscal year 2026. The change from the prior year is not meaningful, because that figure was zero or negative.
Mesoblast Ltd earned -$0.04 per diluted share (EPS) in fiscal year 2026. The change from the prior year is not meaningful, because that figure was zero or negative.
Not reported for fiscal year 2026.
Cash & Balance Sheet
Mesoblast Ltd recorded an outflow of $44.7M in free cash flow in fiscal year 2026, representing a cash shortfall after capex. The change from the prior year is not meaningful, because that figure was zero or negative.
Mesoblast Ltd held $102.9M in cash against $108.6M in long-term debt as of fiscal year 2026.
Not reported for fiscal year 2026.
Margins & Returns
Mesoblast Ltd's gross margin was 86.1% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is up 16.0 percentage points from the prior year.
Mesoblast Ltd's net profit margin was -47.8% in fiscal year 2026, showing the share of revenue converted to profit. No change is given against fiscal year 2025: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Mesoblast Ltd's ROE was -10.1% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is up 7.0 percentage points from the prior year.
Not reported for fiscal year 2026.
Capital Allocation
Mesoblast Ltd invested $97.5M in research and development in fiscal year 2026. This represents an increase of 180.1% from the prior year.
Mesoblast Ltd invested $833K in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents an increase of 22.5% from the prior year.
Not reported for fiscal year 2026.
MEOBF Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2620-F | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F | FY1720-F | FY1620-F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $120.3M+599.2% | $17.2M+191.4% | $5.9M-21.3% | $7.5M-26.5% | $10.2M+37.4% | $7.4M-76.9% | $32.2M+92.3% | $16.7M-3.6% | $17.3M+618.9% | $2.4M-94.3% | $42.5M |
| Cost of Revenue | $16.7M+224.9% | $5.1Mn/m | $0n/m | $0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | $103.6M+758.3% | $12.1M+104.5% | $5.9M-21.3% | $7.5M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | $97.5M+180.1% | $34.8M-12.4% | $39.7M-24.8% | $52.8M+61.0% | $32.8M-38.1% | $53.0M-5.7% | $56.2M-6.1% | $59.8M-9.3% | $65.9M+11.9% | $58.9M+17.8% | $50.0M |
| Interest Expense | $19.9M-8.6% | $21.8M+5.3% | $20.7M+6.2% | $19.4M+15.0% | $16.9M+6.1% | $15.9M+8.3% | $14.7M+25.7% | $11.7M+539.9% | $1.8M | N/A | N/A |
| Income Tax | $613K+85.8% | $330Kn/m | -$191Kn/m | -$212Kn/m | -$239Kn/m | -$819Kn/m | -$9.4Mn/m | -$9.0Mn/m | -$30.7Mn/m | -$13.4Mn/m | -$86.7M |
| Net Income | -$57.5Mn/m | -$102.1Mn/m | -$88.0Mn/m | -$81.9Mn/m | -$91.3Mn/m | -$98.8Mn/m | -$77.9Mn/m | -$89.8Mn/m | -$35.3Mn/m | -$76.8Mn/m | -$4.1M |
| EPS (Basic) | -$0.04n/m | -$0.08n/m | -$0.09n/m | -$0.11n/m | -$0.13n/m | -$0.16n/m | -$0.15n/m | -$0.18n/m | -$0.08n/m | -$0.19n/m | -$0.01 |
| EPS (Diluted) | -$0.04n/m | -$0.08n/m | -$0.09n/m | -$0.11n/m | -$0.13n/m | -$0.16n/m | -$0.15n/m | -$0.18n/m | -$0.08n/m | -$0.19n/m | -$0.01 |
| Diluted Shares (Avg) | 1.29B+7.2% | 1.21B+22.4% | 987M+26.9% | 778M+13.9% | 683M+12.9% | 605M+14.4% | 529M+7.0% | 494M+6.2% | 466M+16.7% | 399M+9.6% | 364M |
Not reported in any period shown, so not listed: SG&A Expenses, Operating Income, EBITDA.
MEOBF Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2620-F | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F | FY1720-F | FY1620-F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $773.1M-1.5% | $784.7M+17.3% | $669.2M0.0% | $669.4M+1.1% | $662.1M-11.1% | $744.7M+1.5% | $733.6M+12.5% | $652.1M-5.8% | $692.4M+5.6% | $655.7M | N/A |
| Current Assets | $197.5M-3.4% | $204.3M+136.3% | $86.5M+5.9% | $81.7M+16.9% | $69.8M-52.9% | $148.2M+8.6% | $136.5M+118.4% | $62.5M-38.1% | $101.1M+58.9% | $63.6M | N/A |
| Cash & Equivalents | $102.9M-36.3% | $161.6M+156.6% | $63.0M-11.7% | $71.3M+18.0% | $60.4M-55.8% | $136.9M+5.8% | $129.3M+156.5% | $50.4M+33.5% | $37.8M-17.5% | $45.8M-43.5% | $80.9M |
| Inventory | $28.1M+26.4% | $22.2Mn/m | $0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $57.7M+287.9% | $14.9M-29.0% | $21.0M+199.4% | $7.0M+58.9% | $4.4M-9.1% | $4.8M+207.6% | $1.6M-61.2% | $4.1M-91.9% | $50.4M+1245.6% | $3.7M | N/A |
| Goodwill | $566.4M-1.0% | $571.8M-0.7% | $575.7M-0.3% | $577.2M-0.3% | $578.7M-0.3% | $580.5M-0.2% | $581.6M-0.3% | $583.1M-0.3% | $584.6M-0.3% | $586.4M-0.3% | $587.8M |
| Total Liabilities | $204.7M+9.3% | $187.2M-0.8% | $188.8M+12.7% | $167.6M+1.5% | $165.1M+1.1% | $163.3M-11.4% | $184.3M+7.7% | $171.1M+16.8% | $146.4M+5.4% | $138.9M | N/A |
| Current Liabilities | $81.1M-21.0% | $102.6M+40.1% | $73.2M+74.5% | $42.0M-18.3% | $51.4M-45.5% | $94.3M+4.6% | $90.1M+103.3% | $44.3M+84.7% | $24.0M-34.5% | $36.7M | N/A |
| Non-Current Liabilities | $123.6M+46.0% | $84.6M-26.8% | $115.6M-8.0% | $125.6M+10.4% | $113.7M+64.7% | $69.0M-26.6% | $94.1M-25.7% | $126.7M+3.5% | $122.4M+19.7% | $102.3M | N/A |
| Long-Term Debt | $108.6M+60.4% | $67.7M-32.6% | $100.5M-2.3% | $102.8M+12.2% | $91.6M+123.2% | $41.0M-28.0% | $57.0M-15.2% | $67.3M+13.3% | $59.4Mn/m | $0 | N/A |
| Total Equity | $568.4M-4.9% | $597.4M+24.4% | $480.4M-4.3% | $501.8M+1.0% | $497.0M-14.5% | $581.4M+5.8% | $549.3M+14.2% | $481.1M-11.9% | $546.0M+5.7% | $516.8M-2.2% | $528.2M |
| Retained Earnings | -$1.1Bn/m | -$1.0Bn/m | -$908.8Mn/m | -$820.8Mn/m | -$738.9Mn/m | -$647.6Mn/m | -$548.8Mn/m | -$470.0Mn/m | -$380.2Mn/m | -$344.9M | N/A |
Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments.
MEOBF Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2620-F | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F | FY1720-F | FY1620-F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$43.8Mn/m | -$50.0Mn/m | -$48.5Mn/m | -$63.3Mn/m | -$65.8Mn/m | -$100.7Mn/m | -$50.4Mn/m | -$57.8Mn/m | -$75.0Mn/m | -$95.5Mn/m | -$88.0M |
| Depreciation & Amortization | $8.6M+34.1% | $6.4M+37.2% | $4.7M+13.6% | $4.1M-6.2% | $4.4M+2.7% | $4.3M+16.3% | $3.7M+71.4% | $2.1M-19.3% | $2.6M-13.3% | $3.1M+39.5% | $2.2M |
| Capital Expenditures | $833K+22.5% | $680K+150.9% | $271K+2.7% | $264K | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | -$44.7Mn/m | -$50.6Mn/m | -$48.7Mn/m | -$63.5M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$1.0M-952.5% | $120Kn/m | -$97Kn/m | -$194Kn/m | -$232Kn/m | -$1.6Mn/m | -$3.3Mn/m | -$1.0Mn/m | -$1.2M-912.0% | $142Kn/m | -$1.7M |
| Financing Cash Flow | -$15.3M-110.4% | $147.3M+266.0% | $40.3M-46.0% | $74.5Mn/m | -$9.9M-109.1% | $108.5M-17.2% | $131.1M+83.1% | $71.6M+4.4% | $68.6M+14.3% | $60.0M-3.3% | $62.1M |
Not reported in any period shown, so not listed: Stock-Based Compensation, Dividends Paid, Share Buybacks.
MEOBF Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2620-F | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F | FY1720-F | FY1620-F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 86.1%+16.0pp | 70.2%-29.8pp | 100.0%0.0pp | 100.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | -47.8% | -593.9% | -1490.3% | -1091.7% | -894.6% | -1329.2% | -242.4% | -537.0% | -203.5% | -3184.7% | -9.7% |
| Return on Equity | -10.1%+7.0pp | -17.1%+1.2pp | -18.3%-2.0pp | -16.3%+2.1pp | -18.4%-1.4pp | -17.0%-2.8pp | -14.2%+4.5pp | -18.7%-12.2pp | -6.5%+8.4pp | -14.9%-14.1pp | -0.8% |
| Return on Assets | -7.4%+5.6pp | -13.0%+0.1pp | -13.1%-0.9pp | -12.2%+1.6pp | -13.8%-0.5pp | -13.3%-2.7pp | -10.6%+3.1pp | -13.8%-8.7pp | -5.1%+6.6pp | -11.7% | N/A |
| Current Ratio | 2.43+0.4x | 1.99+0.8x | 1.18-0.8x | 1.95+0.6x | 1.36-0.2x | 1.57+0.1x | 1.51+0.1x | 1.41-2.8x | 4.21+2.5x | 1.73 | N/A |
| Debt-to-Equity | 0.19+0.1x | 0.11-0.1x | 0.210.0x | 0.200.0x | 0.18+0.1x | 0.070.0x | 0.100.0x | 0.140.0x | 0.11+0.1x | 0.00 | N/A |
| Liabilities-to-Equity | 0.360.0x | 0.31-0.1x | 0.39+0.1x | 0.330.0x | 0.33+0.1x | 0.28-0.1x | 0.340.0x | 0.36+0.1x | 0.270.0x | 0.27 | N/A |
| Asset Turnover | 0.16+0.1x | 0.020.0x | 0.010.0x | 0.010.0x | 0.020.0x | 0.010.0x | 0.040.0x | 0.030.0x | 0.030.0x | 0.00 | N/A |
| FCF Margin | -37.1% | -294.4% | -825.6% | -847.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Operating 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: Net Margin, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it. Market cap is stated at each company's latest close.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Mesoblast Ltd MEOBF | FY2026 | $120.3M | -$57.5M | -47.8% | $1.5B | — |
| Telix Pharm Ltd TLPPF | FY2025 | $803.8M | -$7.1M | -0.9% | $3.1B | — |
| CytoDyn Inc CYDY | FY2026 | N/A | -$42.7M | N/A | $332.1M | — |
| Alterity Therapeutics Ltd PRNAF | FY2026 | N/A | -$16.2M | N/A | $45.8M | — |
Where Mesoblast Ltd Ranks
Frequently Asked Questions
Mesoblast Ltd (MEOBF) reported $120.3M in total revenue for fiscal year 2026. This represents a 599.2% 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.
Mesoblast Ltd (MEOBF) revenue grew by 599.2% year-over-year, from $17.2M to $120.3M in fiscal year 2026.
No, Mesoblast Ltd (MEOBF) reported a net loss of $57.5M in fiscal year 2026, with a net profit margin of -47.8%.
As of fiscal year 2026, Mesoblast Ltd (MEOBF) had $102.9M in cash and equivalents against $108.6M in long-term debt.
Mesoblast Ltd (MEOBF) had a gross margin of 86.1% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.
Mesoblast Ltd (MEOBF) had a net profit margin of -47.8% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.
Mesoblast Ltd (MEOBF) has a return on equity of -10.1% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.
Mesoblast Ltd (MEOBF) recorded an outflow of $44.7M in free cash flow during fiscal year 2026. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. 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.
Mesoblast Ltd (MEOBF) recorded an outflow of $43.8M in operating cash flow during fiscal year 2026, representing cash used by core business activities.
Mesoblast Ltd (MEOBF) had $773.1M in total assets as of fiscal year 2026, including both current and long-term assets.
Mesoblast Ltd (MEOBF) invested $833K in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.
Mesoblast Ltd (MEOBF) invested $97.5M in research and development during fiscal year 2026.
Mesoblast Ltd (MEOBF) had a current ratio of 2.43 as of fiscal year 2026, which is generally considered healthy.
Mesoblast Ltd (MEOBF) had a debt-to-equity ratio of 0.19 as of fiscal year 2026. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
Mesoblast Ltd (MEOBF) had a liabilities-to-equity ratio of 0.36 as of fiscal year 2026, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
Mesoblast Ltd (MEOBF) had a return on assets of -7.4% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.
Mesoblast Ltd (MEOBF) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2026). The market capitalization is $1.5B as of Nov 4, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Mesoblast Ltd (MEOBF) trades at 12.3x sales, its market capitalization divided by $120.3M revenue, FY2026. The market capitalization is $1.5B as of Nov 4, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Mesoblast Ltd (MEOBF) has a Piotroski F-Score of 5 out of 9, indicating neutral 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.
Mesoblast Ltd (MEOBF) reported a net loss of $57.5M while operations used $43.8M 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.