Mineralys Therapeutics, Inc. Financials
This page shows Mineralys Therapeutics, Inc. (MLYS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 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).
Mineralys operates as a cash-funded research platform, with new equity capital rather than revenue or debt sustaining its expense base.
In FY2025, cash burn closely matched the accounting loss: operating cash flow was-$142.4M versus net loss of-$154.7M , so the business is consuming real cash on research rather than relying on accrual-driven losses. The more important shift is how that burn was financed:$591.0M of financing inflow left cash at$172.9M , showing runway was extended by new capital instead of self-funding.
Solvency is dominated by equity, not debt: liabilities were only
The expense base is still R&D-led, but it is no longer purely lab spend: research and development fell to
Financial Health Signals
Mineralys Therapeutics, 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.
Mineralys Therapeutics, 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.
Mineralys Therapeutics, Inc. reported a net loss of $154.7M while operations used $142.4M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Mineralys Therapeutics, Inc.'s EBITDA was -$170.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 11.3% from the prior year.
Mineralys Therapeutics, Inc. reported -$154.7M in net income in fiscal year 2025. This represents an increase of 13.0% from the prior year.
Mineralys Therapeutics, Inc. earned -$2.29 per diluted share (EPS) in fiscal year 2025. This represents an increase of 37.4% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Mineralys Therapeutics, Inc. recorded an outflow of $142.4M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents an increase of 14.4% from the prior year.
Mineralys Therapeutics, Inc. held $172.9M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
Mineralys Therapeutics, Inc.'s ROE was -23.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 69.1 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
Mineralys Therapeutics, Inc. invested $132.0M in research and development in fiscal year 2025. This represents a decrease of 21.7% from the prior year.
Mineralys Therapeutics, Inc. invested $15K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 84.4% from the prior year.
Not reported for fiscal year 2025.
MLYS 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 | FY22 |
|---|---|---|---|---|---|
| R&D Expenses | N/A | $132.0M-21.7% | $168.6M+139.6% | $70.4M+168.0% | $26.3M |
| SG&A Expenses | N/A | $38.6M+62.0% | $23.8M+66.6% | $14.3M+173.4% | $5.2M |
| Operating Income | N/A | -$170.6M+11.3% | -$192.4M-127.3% | -$84.7M-168.9% | -$31.5M |
| Income Tax | N/A | $0 | N/A | N/A | N/A |
| Net Income | N/A | -$154.7M+13.0% | -$177.8M-147.3% | -$71.9M-141.3% | -$29.8M |
| EPS (Diluted) | — | -$2.29+37.4% | -$3.66-83.9% | -$1.99 | -$5.77 |
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.
MLYS 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 | FY22 |
|---|---|---|---|---|
| Total Assets | $661.8M+221.4% | $205.9M-18.2% | $251.6M+119.9% | $114.4M |
| Current Assets | $661.4M+222.1% | $205.4M-17.6% | $249.1M+120.8% | $112.8M |
| Cash & Equivalents | $172.9M+51.6% | $114.1M+131.4% | $49.3M-43.8% | $87.7M |
| Total Liabilities | $15.1M+3.2% | $14.6M+39.7% | $10.5M-93.7% | $166.7M |
| Current Liabilities | $15.1M+3.2% | $14.6M+39.7% | $10.5M+29.9% | $8.1M |
| Total Equity | $646.7M+238.1% | $191.3M-20.7% | $241.2M+561.4% | -$52.3M |
| Retained Earnings | -$457.2M-51.1% | -$302.5M-142.6% | -$124.7M-136.1% | -$52.8M |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
MLYS 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 | FY22 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$138.8M | -$142.4M+14.4% | -$166.3M-104.9% | -$81.2M-177.8% | -$29.2M |
| Capital Expenditures | N/A | $15K-84.4% | $96K | $0 | N/A |
| Free Cash Flow | N/A | -$142.4M+14.4% | -$166.4M-105.0% | -$81.2M | N/A |
| Investing Cash Flow | -$484.2M | -$389.8M-439.0% | $115.0M+171.6% | -$160.5M-637.5% | -$21.8M |
| Financing Cash Flow | $659.4M | $591.0M+408.9% | $116.1M-42.9% | $203.2M+58.8% | $128.0M |
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.
MLYS Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|
| Return on Equity | -23.9%+69.1pp | -93.0%-63.2pp | -29.8% | N/A |
| Return on Assets | -23.4%+63.0pp | -86.4%-57.8pp | -28.6%-2.5pp | -26.0% |
| Current Ratio | 43.76+29.7x | 14.02-9.7x | 23.76+9.8x | 13.98 |
| Debt-to-Equity | 0.02-0.1x | 0.080.0x | 0.04 | N/A |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, FCF Margin.
Similar Companies
Where Mineralys Therapeutics, Inc. Ranks
Frequently Asked Questions
Is Mineralys Therapeutics, Inc. profitable?
No, Mineralys Therapeutics, Inc. (MLYS) reported a net income of -$154.7M in fiscal year 2025.
What is Mineralys Therapeutics, Inc.'s EBITDA?
Mineralys Therapeutics, Inc. (MLYS) had EBITDA of -$170.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Mineralys Therapeutics, Inc.'s return on equity (ROE)?
Mineralys Therapeutics, Inc. (MLYS) has a return on equity of -23.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Mineralys Therapeutics, Inc.'s free cash flow?
Mineralys Therapeutics, Inc. (MLYS) recorded an outflow of $142.4M in free cash flow during fiscal year 2025. This represents a 14.4% 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 Mineralys Therapeutics, Inc.'s operating cash flow?
Mineralys Therapeutics, Inc. (MLYS) recorded an outflow of $142.4M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Mineralys Therapeutics, Inc.'s total assets?
Mineralys Therapeutics, Inc. (MLYS) had $661.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Mineralys Therapeutics, Inc.'s capital expenditures?
Mineralys Therapeutics, Inc. (MLYS) invested $15K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Mineralys Therapeutics, Inc. spend on research and development?
Mineralys Therapeutics, Inc. (MLYS) invested $132.0M in research and development during fiscal year 2025.
What is Mineralys Therapeutics, Inc.'s current ratio?
Mineralys Therapeutics, Inc. (MLYS) had a current ratio of 43.76 as of fiscal year 2025, which is generally considered healthy.
What is Mineralys Therapeutics, Inc.'s debt-to-equity ratio?
Mineralys Therapeutics, Inc. (MLYS) had a debt-to-equity ratio of 0.02 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Mineralys Therapeutics, Inc.'s return on assets (ROA)?
Mineralys Therapeutics, Inc. (MLYS) had a return on assets of -23.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Mineralys Therapeutics, Inc.'s Piotroski F-Score?
Mineralys Therapeutics, Inc. (MLYS) 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 Mineralys Therapeutics, Inc.'s earnings high quality?
Mineralys Therapeutics, Inc. (MLYS) reported a net loss of $154.7M while operations used $142.4M 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.