What is MoonLake Immunotherapeutics's earnings per share (EPS)?

MoonLake Immunotherapeutics (MLTX) reported diluted earnings per share of -$3.53 for fiscal year 2025. This represents a -86.8% 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.

MoonLake Immunotherapeutics (MLTX) Financials

MLTX

FY2025 annual

Net Income -$227.3M -91.1% YoY

EPS (Diluted) -$3.53 -86.8% YoY

Free Cash Flow -$196.0M -67.4% YoY

Operating Cash Flow -$196.0M -68.1% YoY

Market Cap $920.9M as of Oct 10, 2026

Price / Sales n/m no revenue reported

Price / Earnings n/m net loss, so no earnings multiple, FY2025

Price / Book 2.2x on $428.2M equity, Q2 FY2026

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 Oct 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 10, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 10, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the MLTX SEC filings page.

This page shows MoonLake Immunotherapeutics (MLTX) 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).

Rhea AI MLTX FY2025 2026-10-03

MoonLake is a pre-revenue development company: rising R&D spending is widening losses while financing supplies the balance sheet.

R&D spending rose from $31.8M in FY2023 to $202.9M in FY2025, making development spending the central operating mechanism rather than a cost attached to sales. Operating cash flow moved from -$42.8M to -$196.0M, showing that heavier investment has coincided with a much larger need for outside capital.

In FY2025, the net loss of $227.3M was close to operating cash flow of -$196.0M; the narrow gap indicates that reported earnings largely reflect cash-consuming operations rather than mainly non-cash accounting charges. This makes cash-flow direction a more useful gauge of spending pressure than the loss alone.

Liabilities rose to $120.0M in FY2025 from $24.5M in FY2024, making the capital structure less equity-funded. The reported liquidity comparison was 24.1 months of annual outflow, describing the latest balance relative to one past year's outflow rather than providing a forecast.

Financial Health Signals

Financial health score not available

MoonLake Immunotherapeutics 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.

Piotroski F-Score Partial

1/6

MoonLake Immunotherapeutics 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).

Earnings Quality No Cash Backing

N/A

MoonLake Immunotherapeutics reported a net loss of $227.3M while operations used $196.0M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Interest Coverage At Risk

N/A

MoonLake Immunotherapeutics reported an operating loss of $244.8M against $7.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

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Earnings & Revenue

EBITDA

-$60.8M

YoY-1.3%

QoQ+12.2%

MoonLake Immunotherapeutics's EBITDA was -$60.8M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 1.3% from the same quarter a year earlier. Against the prior quarter it is up 12.2%.

Net Income

-$61.8M

YoY-11.9%

QoQ+11.3%

MoonLake Immunotherapeutics reported -$61.8M in net income in Q2 2026. This represents a decrease of 11.9% from the same quarter a year earlier. Against the prior quarter it is up 11.3%.

EPS (Diluted)

-$0.84

YoY+3.4%

QoQ+14.3%

MoonLake Immunotherapeutics earned -$0.84 per diluted share (EPS) in Q2 2026. This represents an increase of 3.4% from the same quarter a year earlier. Against the prior quarter it is up 14.3%.

Revenue

Not reported for Q2 2026.

Cash & Balance Sheet

Free Cash Flow

-$55.6M

YoY-1.9%

QoQ+16.2%

MoonLake Immunotherapeutics recorded an outflow of $55.6M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 1.9% from the same quarter a year earlier. Against the prior quarter it is up 16.2%.

Cash & Debt

$477.9M

YoY+55.8%

QoQ+60.1%

5Y CAGR+237.1%

MoonLake Immunotherapeutics held $477.9M in cash against $99.5M in long-term debt as of Q2 2026.

Shares Outstanding

85M

QoQ+15.6%

MoonLake Immunotherapeutics had 85M shares outstanding in Q2 2026. Against the prior quarter it is up 15.6%.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Return on Equity

-14.4%

YoY+1.2pp

QoQ+13.0pp

MoonLake Immunotherapeutics's ROE was -14.4% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 1.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 13.0 percentage points.

Gross Margin

Not reported for Q2 2026.

Operating Margin

Not reported for Q2 2026.

Net Margin

Not reported for Q2 2026.

Capital Allocation

R&D Spending

$50.2M

YoY+0.9%

QoQ-7.9%

MoonLake Immunotherapeutics invested $50.2M in research and development in Q2 2026. This represents an increase of 0.9% from the same quarter a year earlier. Against the prior quarter it is down 7.9%.

Capital Expenditures

MoonLake Immunotherapeutics reported no capital expenditure in Q2 2026.

Share Buybacks

Not reported for Q2 2026.

MLTX 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.

MLTX quarterly income statement

Metric	TTM	FY25DEF 14A	FY24DEF 14A	FY23DEF 14A	FY22DEF 14A	FY2110-K
R&D Expenses	N/A	$202.9M+79.9%	$112.8M+254.6%	$31.8M-24.4%	$42.0M	N/A
SG&A Expenses	N/A	$42.0M+38.4%	$30.3M+35.8%	$22.3M-3.0%	$23.0M+403.5%	$4.6M
Operating Income	N/A	-$244.8M-71.1%	-$143.1M-164.4%	-$54.1M+16.8%	-$65.1M-1323.6%	-$4.6M
EBITDA	N/A	-$242.2M-70.9%	-$141.7M-163.6%	-$53.8M+17.2%	-$64.9M	N/A
Interest Expense	N/A	$7.2M	$0	$0	N/A	N/A
Income Tax	N/A	$611K+116.7%	$282K+200.0%	$94K+158.5%	$36K	N/A
Net Income	N/A	-$227.3M-91.1%	-$118.9M-230.3%	-$36.0M+27.9%	-$50.0M-1000.1%	-$4.5M
EPS (Basic)	N/A	-$3.53-86.8%	-$1.89-158.9%	-$0.73+57.1%	-$1.70	N/A
EPS (Diluted)	-$3.84	-$3.53-86.8%	-$1.89-158.9%	-$0.73	-$1.70	N/A
Diluted Shares (Avg)	N/A	64M+2.5%	63M+28.0%	49M	29M-91.8%	360M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
R&D Expenses	$50.2M+0.9%	$54.5M+49.5%	N/A	$60.6M+69.7%	$49.8M+110.3%	$36.5M+180.2%	N/A	$35.7M+371.1%
SG&A Expenses	$11.4M+4.6%	$15.5M+40.7%	N/A	$10.8M+46.4%	$10.9M+58.1%	$11.0M+62.0%	N/A	$7.4M+36.8%
Operating Income	-$61.7M-1.6%	-$70.0M-47.5%	N/A	-$71.4M-65.7%	-$60.7M-98.5%	-$47.5M-139.6%	N/A	-$43.1M-232.2%
EBITDA	-$60.8M-1.3%	-$69.2M-46.9%	N/A	-$70.7M-65.3%	-$60.0M-98.3%	-$47.1M-141.7%	N/A	-$42.8M-229.6%
Interest Expense	$2.6M+29.2%	$2.3M+12505.6%	N/A	$3.2M	$2.0M	$18K	N/A	$0
Income Tax	$90K-5.3%	$622K+306.5%	N/A	$115K+25.0%	$95K+20.3%	$153K+118.6%	N/A	$92K+218.1%
Net Income	-$61.8M-11.9%	-$69.7M-74.5%	N/A	-$69.7M-97.0%	-$55.2M-127.6%	-$39.9M-192.1%	N/A	-$35.4M-275.4%
EPS (Basic)	-$0.84+3.4%	-$0.98-55.6%	-$0.92-27.8%	-$1.10-96.4%	-$0.87-123.1%	-$0.63-186.4%	-$0.72-620.0%	-$0.56-211.1%
EPS (Diluted)	-$0.84+3.4%	-$0.98-55.6%	-$0.92-27.8%	-$1.10-96.4%	-$0.87-123.1%	-$0.63-186.4%	-$0.72-620.0%	-$0.56-211.1%
Diluted Shares (Avg)	74M+16.8%	71M+12.7%	N/A	63M+0.8%	63M+0.6%	63M+1.0%	N/A	63M+17.5%

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit.

MLTX Balance Sheet

MLTX quarterly balance sheet

Metric	FY25DEF 14A	FY24DEF 14A	FY23DEF 14A	FY22DEF 14A	FY2110-K
Total Assets	$424.4M-11.2%	$477.9M-9.2%	$526.5M+585.2%	$76.8M+693.6%	$9.7M
Current Assets	$421.7M-11.1%	$474.3M-7.8%	$514.2M+572.0%	$76.5M+694.0%	$9.6M
Cash & Equivalents	$334.5M+85.4%	$180.4M-60.0%	$451.2M+1042.0%	$39.5M+391.4%	$8.0M
Short-Term Investments	$59.5M-77.8%	$267.6M+347.2%	$59.8M+83.5%	$32.6M	$0
Long-Term Investments	$0	$0	$0	$0	$0
Total Liabilities	$120.0M+388.8%	$24.5M+88.1%	$13.0M-53.3%	$27.9M+31.0%	$21.3M
Current Liabilities	$45.5M+102.5%	$22.5M+125.4%	$10.0M+30.0%	$7.7M-63.6%	$21.1M
Non-Current Liabilities	$74.5M+3482.2%	$2.1M-32.6%	$3.1M+649.9%	$411K+71.4%	$240K
Long-Term Debt	$74.1M	$0	N/A	N/A	N/A
Total Equity	$304.5M-31.9%	$446.8M-9.9%	$495.7M+913.7%	$48.9M+519.9%	-$11.6M
Retained Earnings	-$462.9M-96.5%	-$235.6M-102.0%	-$116.7M-44.6%	-$80.7M-50.3%	-$53.6M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$573.9M+24.7%	$400.4M-21.7%	$424.4M-11.2%	$414.3M-20.0%	$460.1M-15.6%	$511.3M-9.4%	$477.9M-9.2%	$518.2M+3.6%
Current Assets	$570.0M+25.2%	$396.6M-21.7%	$421.7M-11.1%	$411.2M-19.7%	$455.5M-15.2%	$506.3M-8.5%	$474.3M-7.8%	$512.3M+2.5%
Cash & Equivalents	$477.9M+55.8%	$298.5M+9.9%	$334.5M+85.4%	$350.7M-6.6%	$306.7M-10.5%	$271.6M-40.8%	$180.4M-60.0%	$375.7M+18.1%
Short-Term Investments	$59.1M-50.1%	$59.4M-71.5%	$59.5M-77.8%	$29.7M-74.9%	$118.4M-33.1%	$208.6M+135.4%	$267.6M+347.2%	$118.3M-33.5%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$145.8M+42.7%	$146.3M+48.3%	$120.0M+388.8%	$123.1M+442.2%	$102.2M+588.1%	$98.7M+741.2%	$24.5M+88.1%	$22.7M+114.7%
Current Liabilities	$45.4M+65.9%	$46.1M+92.3%	$45.5M+102.5%	$48.4M+140.9%	$27.4M+122.8%	$24.0M+169.1%	$22.5M+125.4%	$20.1M+94.8%
Non-Current Liabilities	$100.4M+34.2%	$100.2M+34.2%	$74.5M+3482.2%	$74.8M+2742.5%	$74.8M+2816.7%	$74.7M+2548.7%	$2.1M-32.6%	$2.6M+879.8%
Long-Term Debt	$99.5M+35.6%	$99.0M+35.6%	$74.1M	$73.7M	$73.4M	$73.0M	$0	N/A
Total Equity	$428.2M+21.1%	$254.0M-37.7%	$304.5M-31.9%	$288.9M-40.8%	$353.7M-32.1%	$407.5M-24.9%	$446.8M-9.9%	$488.2M+14.9%
Retained Earnings	-$594.4M-79.7%	-$532.6M-93.3%	-$462.9M-96.5%	-$400.5M-110.8%	-$330.8M-113.9%	-$275.5M-111.4%	-$235.6M-102.0%	-$190.0M-73.9%

Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill.

MLTX Cash Flow Statement

MLTX quarterly cash flow statement

Metric	TTM	FY25DEF 14A	FY24DEF 14A	FY23DEF 14A	FY22DEF 14A	FY2110-K
Operating Cash Flow	-$225.2M	-$196.0M-68.1%	-$116.6M-172.5%	-$42.8M+23.5%	-$55.9M-9046.9%	-$611K
Depreciation & Amortization	N/A	$2.6M+88.9%	$1.4M+274.3%	$370K+124.5%	$165K	N/A
Stock-Based Compensation	N/A	$12.9M+77.1%	$7.3M+2.5%	$7.1M-26.4%	$9.7M	N/A
Capital Expenditures	$0	$35K-93.3%	$520K+83.1%	$284K+1674.0%	$16K	N/A
Free Cash Flow	-$225.2M	-$196.0M-67.4%	-$117.1M-171.9%	-$43.1M+23.0%	-$55.9M	N/A
Investing Cash Flow	$58.9M	$203.0M+198.7%	-$205.6M-716.4%	-$25.2M+22.1%	-$32.3M	N/A
Financing Cash Flow	$338.1M	$146.0M+184.5%	$51.3M-89.3%	$479.7M+300.8%	$119.7M+206242.9%	-$58K
Share Buybacks	N/A	N/A	$50	$0	$0	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	-$55.6M-1.9%	-$66.3M-73.8%	-$58.8M-21.3%	-$44.5M-76.2%	-$54.5M-95.5%	-$38.1M-155.2%	-$48.5M-292.7%	-$25.3M-173.2%
Depreciation & Amortization	$896K+20.8%	$845K+123.5%	$751K+106.3%	$745K+112.3%	$742K+117.0%	$378K+15.2%	$364K	$351K+10568.7%
Stock-Based Compensation	$2.5M-23.1%	$13.4M+483.2%	N/A	$3.7M+101.2%	$3.3M+81.0%	$2.3M+36.6%	N/A	$1.8M+29.3%
Capital Expenditures	$0	$0-100.0%	$0-100.0%	$0-100.0%	$0	$35K-83.5%	$176K-38.0%	$132K
Free Cash Flow	-$55.6M-1.9%	-$66.3M-73.6%	-$58.8M-20.9%	-$44.5M-75.3%	-$54.5M-95.5%	-$38.2M-151.8%	-$48.6M-285.2%	-$25.4M-174.7%
Investing Cash Flow	$322K-99.6%	$98K-99.8%	-$29.9M+79.7%	$88.4M+51.7%	$88.3M+200.6%	$56.2M+295.3%	-$147.3M-226.1%	$58.3M+133.4%
Financing Cash Flow	$234.6M	$30.6M-58.1%	$72.4M+47843.7%	$480K+162.3%	$0	$73.1M+43.4%	$151K-99.5%	$183K
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	$0	$0

Not reported in any period shown, so not listed: Dividends Paid.

MLTX 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.

MLTX quarterly financial ratios

Metric	FY25DEF 14A	FY24DEF 14A	FY23DEF 14A	FY22DEF 14A	FY2110-K
Return on Equity	-74.7%-48.0pp	-26.6%-19.4pp	-7.3%+94.9pp	-102.2%	N/A
Return on Assets	-53.6%-28.7pp	-24.9%-18.1pp	-6.8%+58.2pp	-65.0%-18.1pp	-46.9%
Current Ratio	9.27-11.8x	21.11-30.5x	51.59+41.6x	9.98+9.5x	0.46
Debt-to-Equity	0.24+0.2x	0.000.0x	0.03-0.5x	0.57	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Return on Equity	-14.4%+1.2pp	-27.4%-17.6pp	N/A	-24.1%-16.9pp	-15.6%-10.9pp	-9.8%-7.3pp	N/A	-7.2%-5.0pp
Return on Assets	-10.8%+1.2pp	-17.4%-9.6pp	N/A	-16.8%-10.0pp	-12.0%-7.5pp	-7.8%-5.4pp	N/A	-6.8%-5.0pp
Current Ratio	12.56-4.1x	8.60-12.5x	9.27-11.8x	8.50-17.0x	16.65-27.1x	21.11-41.0x	21.11-30.5x	25.51-23.0x
Debt-to-Equity	0.230.0x	0.39+0.2x	0.24+0.2x	0.26+0.2x	0.21+0.2x	0.18+0.2x	0.000.0x	0.050.0x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Asset Turnover, 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.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
MoonLake Immunotherapeutics MLTX	FY2025	N/A	-$227.3M	N/A	$920.9M	—
Kymera Therapeutics, Inc. KYMR	FY2025	$39.2M	$311.4M	N/A	$9.1B	38/100
Mirum Pharmaceuticals, Inc. MIRM	FY2025	$521.3M	-$23.4M	-4.5%	$5.3B	71/100
Protagonist Therapeutics, Inc PTGX	FY2025	$46.0M	-$130.1M	N/A	$9.1B	76/100
Ascentage Pharma Group International AAPG	FY2025	$71.4M	-$177.7M	N/A	$1.4B	24/100
Zai Lab Limited ZLAB	FY2025	$460.2M	-$175.5M	-38.1%	$2.8B	64/100

Where MoonLake Immunotherapeutics Ranks

Frequently Asked Questions

Is MoonLake Immunotherapeutics profitable?

No, MoonLake Immunotherapeutics (MLTX) reported a net income of -$227.3M in fiscal year 2025.

What is MoonLake Immunotherapeutics's EBITDA?

MoonLake Immunotherapeutics (MLTX) had EBITDA of -$242.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does MoonLake Immunotherapeutics have?

As of fiscal year 2025, MoonLake Immunotherapeutics (MLTX) had $334.5M in cash and equivalents against $74.1M in long-term debt.

What is MoonLake Immunotherapeutics's return on equity (ROE)?

MoonLake Immunotherapeutics (MLTX) has a return on equity of -74.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is MoonLake Immunotherapeutics's free cash flow?

MoonLake Immunotherapeutics (MLTX) recorded an outflow of $196.0M in free cash flow during fiscal year 2025. This represents a -67.4% 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 MoonLake Immunotherapeutics's operating cash flow?

MoonLake Immunotherapeutics (MLTX) recorded an outflow of $196.0M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are MoonLake Immunotherapeutics's total assets?

MoonLake Immunotherapeutics (MLTX) had $424.4M in total assets as of fiscal year 2025, including both current and long-term assets.

What are MoonLake Immunotherapeutics's capital expenditures?

MoonLake Immunotherapeutics (MLTX) invested $35K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does MoonLake Immunotherapeutics spend on research and development?

MoonLake Immunotherapeutics (MLTX) invested $202.9M in research and development during fiscal year 2025.

What is MoonLake Immunotherapeutics's current ratio?

MoonLake Immunotherapeutics (MLTX) had a current ratio of 9.27 as of fiscal year 2025, which is generally considered healthy.

What is MoonLake Immunotherapeutics's debt-to-equity ratio?

MoonLake Immunotherapeutics (MLTX) had a debt-to-equity ratio of 0.24 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is MoonLake Immunotherapeutics's return on assets (ROA)?

MoonLake Immunotherapeutics (MLTX) had a return on assets of -53.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is MoonLake Immunotherapeutics's P/E ratio?

MoonLake Immunotherapeutics (MLTX) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $920.9M as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is MoonLake Immunotherapeutics's price-to-sales ratio?

MoonLake Immunotherapeutics (MLTX) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $920.9M as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

How does MoonLake Immunotherapeutics's liquidity compare with its operating cash outflow?

At the end of fiscal year 2025, MoonLake Immunotherapeutics (MLTX) held $394.0M in cash, cash equivalents and investments, and reported an operating cash outflow of $196.0M over that year. Dividing the one by the other, the reported balance equals about 24 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 MoonLake Immunotherapeutics's Piotroski F-Score?

MoonLake Immunotherapeutics (MLTX) 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 MoonLake Immunotherapeutics's earnings high quality?

MoonLake Immunotherapeutics (MLTX) reported a net loss of $227.3M while operations used $196.0M 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.

Can MoonLake Immunotherapeutics cover its interest payments?

MoonLake Immunotherapeutics (MLTX) reported an operating loss of $244.8M against $7.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.