What is Marizyme's earnings per share (EPS)?

Marizyme (MRZM) reported diluted earnings per share of $-1.53 for fiscal year 2023. 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.

Marizyme Financials

MRZM

Source SEC Filings (10-K/10-Q) Data as of Sep 30, 2024 Currency USD FYE December

This page shows Marizyme (MRZM) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 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 MRZM FY2023 2026-04-22

Marizyme still operates like a financed development platform, with tiny revenue far outweighed by cash burn and a liability-heavy balance sheet.

From FY2021 to FY2023, cash fell from $4.1M to $148K, removing much of the liquidity cushion that once sat behind the business. By FY2023, current liabilities had reached $22.6M while financing inflows of $4.3M nearly offset operating cash burn, showing the model still depended more on fresh capital than on customer receipts.

FY2023 revenue was only $646K while R&D spending was $2.2M, so commercialization remained far smaller than the cost base supporting development. A gross margin of 70.9% on that small revenue base suggests the bottleneck was scale, not an obviously weak markup on what was sold.

Shares outstanding jumped from 40.5M to 131.8M in FY2023 as equity turned negative to -$6.7M, meaning losses were large enough to erase the book cushion even after more shares were issued. With a current ratio of 0.04x and cash of $148K, short-term obligations looked far heavier than immediately available resources.

Financial Health Signals

Financial health score pending refresh

We are recalculating Marizyme's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Altman Z-Score Distress

-16.15

Marizyme scores -16.15, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($40K) relative to total liabilities ($28.7M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

2/8

Marizyme passes 2 of 8 computable financial strength tests (1 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), 1 of 2 efficiency signals pass.

Earnings Quality Low Quality

0.07x

For every $1 of reported earnings, Marizyme generates $0.07 in operating cash flow (-$4.7M OCF vs -$69.5M 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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Earnings & Revenue

Revenue

$646K

YoY+176.6%

5Y CAGR+100.0%

Marizyme generated $646K in revenue in fiscal year 2023. This represents an increase of 176.6% from the prior year.

EBITDA

-$33.2M

YoY+8.9%

Marizyme's EBITDA was -$33.2M in fiscal year 2023, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 8.9% from the prior year.

Net Income

-$69.5M

YoY-82.2%

Marizyme reported -$69.5M in net income in fiscal year 2023. This represents a decrease of 82.2% from the prior year.

EPS (Diluted)

$-1.53

Marizyme earned $-1.53 per diluted share (EPS) in fiscal year 2023.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$148K

YoY-70.9%

5Y CAGR+327.5%

10Y CAGR+67.4%

Marizyme held $148K in cash against $0 in long-term debt as of fiscal year 2023.

Dividends Per Share

N/A

Shares Outstanding

132M

Marizyme had 132M shares outstanding in fiscal year 2023.

Margins & Returns

Gross Margin

70.9%

YoY-5.9pp

5Y CAGR+70.3pp

Marizyme's gross margin was 70.9% in fiscal year 2023, indicating the percentage of revenue retained after direct costs. This is down 5.9 percentage points from the prior year.

Operating Margin

-5278.1%

YoY+10707.4pp

5Y CAGR-4053.9pp

Marizyme's operating margin was -5278.1% in fiscal year 2023, reflecting core business profitability. This is up 10707.4 percentage points from the prior year.

Net Margin

-10767.8%

YoY+5578.4pp

5Y CAGR-9535.6pp

Marizyme's net profit margin was -10767.8% in fiscal year 2023, showing the share of revenue converted to profit. This is up 5578.4 percentage points from the prior year.

Return on Equity

N/A

Capital Allocation

R&D Spending

$2.2M

YoY-45.3%

Marizyme invested $2.2M in research and development in fiscal year 2023. This represents a decrease of 45.3% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

MRZM Income Statement

Metric	FY23	FY22	FY21	FY20	FY19	FY18
Revenue	$646K+176.6%	$233K+11.0%	$210K+6.7%	$197K	$0-100.0%	$20K
Cost of Revenue	$188K+246.3%	$54K-32.4%	$80K	N/A	$0-100.0%	$20K
Gross Profit	$458K+155.5%	$179K+37.9%	$130K	N/A	$0-100.0%	$113
R&D Expenses	$2.2M-45.3%	$4.0M+136.6%	$1.7M+144.6%	$688K	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	$111K-12.5%	$127K
Operating Income	-$34.1M+8.7%	-$37.3M-323.1%	-$8.8M-52.1%	-$5.8M-448.1%	-$1.1M-328.1%	-$247K
Interest Expense	N/A	N/A	N/A	$45K	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$69.5M-82.2%	-$38.2M-247.0%	-$11.0M-88.2%	-$5.8M-452.4%	-$1.1M-325.4%	-$249K
EPS (Diluted)	$-1.53	$-0.94	N/A	N/A	N/A	N/A

Metric	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22
Revenue	N/A	N/A	$33K-78.2%	$151K-17.1%	$182K-1.7%	$185K+43.2%	$129K	N/A
Cost of Revenue	N/A	N/A	$10K-80.0%	$48K-5.4%	$51K+2.8%	$50K+26.3%	$39K	N/A
Gross Profit	N/A	N/A	$23K-77.3%	$102K-21.6%	$131K-3.4%	$135K+50.6%	$90K	N/A
R&D Expenses	$344K+10.2%	$312K-3.0%	$322K-16.9%	$387K-21.4%	$492K-28.8%	$691K+14.1%	$606K	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	-$1.4M+14.7%	-$1.6M-15.8%	-$1.4M+93.8%	-$22.3M-359.0%	-$4.9M-1.1%	-$4.8M-125.2%	-$2.1M	N/A
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	-$2.0M+73.6%	-$7.4M-37.8%	-$5.4M-23.9%	-$4.4M+83.6%	-$26.5M+26.4%	-$36.1M-1312.5%	-$2.6M	N/A
EPS (Diluted)	$-0.01+83.3%	$-0.06-50.0%	$-0.04	N/A	$-0.58+31.0%	$-0.84-1300.0%	$-0.06	N/A

MRZM Balance Sheet

Metric	FY23	FY22	FY21	FY20	FY19	FY18
Total Assets	$22.0M-43.1%	$38.7M-41.4%	$66.0M+40.2%	$47.1M+64.5%	$28.6M0.0%	$28.6M
Current Assets	$969K-50.5%	$2.0M-55.6%	$4.4M+41.7%	$3.1M+3451096.7%	$90-99.6%	$20K
Cash & Equivalents	$148K-70.9%	$511K-87.5%	$4.1M+40.3%	$2.9M+3225191.1%	$90-13.5%	$104
Inventory	$25K-88.5%	$216K+864.4%	$22K-60.3%	$56K	$0	N/A
Accounts Receivable	$60K-31.3%	$88K+915.0%	$9K-78.7%	$41K	$0	N/A
Goodwill	$5.4M-24.7%	$7.2M0.0%	$7.2M	N/A	N/A	N/A
Total Liabilities	$28.7M+35.0%	$21.3M+16.1%	$18.3M+919.5%	$1.8M+564.6%	$270K+531.6%	$43K
Current Liabilities	$22.6M+675.0%	$2.9M-6.8%	$3.1M+334.4%	$721K+167.0%	$270K+531.6%	$43K
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$6.7M-138.5%	$17.4M-63.5%	$47.7M+5.3%	$45.3M+59.8%	$28.3M-0.8%	$28.6M
Retained Earnings	-$155.5M-80.9%	-$86.0M-79.8%	-$47.8M-29.9%	-$36.8M-18.9%	-$31.0M-3.5%	-$29.9M

Metric	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22
Total Assets	$21.3M-1.3%	$21.5M-0.2%	$21.6M-2.0%	$22.0M-40.4%	$36.9M-0.2%	$37.0M-3.4%	$38.3M-1.1%	$38.7M
Current Assets	$855K-7.3%	$922K+25.5%	$735K-24.1%	$969K-26.3%	$1.3M+24.2%	$1.1M-43.7%	$1.9M-3.9%	$2.0M
Cash & Equivalents	$64K+1120.5%	$5K-15.0%	$6K-95.9%	$148K-68.7%	$475K+131.4%	$205K-37.8%	$330K-35.4%	$511K
Inventory	$27K0.0%	$27K+76.7%	$15K-38.8%	$25K-74.9%	$99K-29.1%	$140K-20.8%	$177K-18.1%	$216K
Accounts Receivable	$2K	N/A	N/A	$60K+39.5%	$43K-40.8%	$73K-6.6%	$78K-11.0%	$88K
Goodwill	$5.4M0.0%	$5.4M0.0%	$5.4M0.0%	$5.4M-24.7%	$7.2M0.0%	$7.2M0.0%	$7.2M0.0%	$7.2M
Total Liabilities	$36.8M+3.7%	$35.5M+10.2%	$32.2M+12.2%	$28.7M-56.7%	$66.3M+54.0%	$43.1M+86.9%	$23.0M+8.3%	$21.3M
Current Liabilities	$30.0M+6.6%	$28.1M+9.6%	$25.7M+13.3%	$22.6M-59.7%	$56.1M+64.2%	$34.2M+325.8%	$8.0M+174.7%	$2.9M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$15.5M-11.4%	-$14.0M-31.2%	-$10.6M-58.7%	-$6.7M+77.2%	-$29.4M-383.1%	-$6.1M-140.0%	$15.2M-12.6%	$17.4M
Retained Earnings	-$170.3M-1.2%	-$168.4M-4.6%	-$160.9M-3.5%	-$155.5M-2.9%	-$151.2M-21.3%	-$124.6M-40.8%	-$88.5M-3.0%	-$86.0M

MRZM Cash Flow Statement

Metric	FY23	FY22	FY21	FY20	FY19	FY18
Operating Cash Flow	-$4.7M+56.8%	-$10.9M-87.5%	-$5.8M-79.5%	-$3.2M-2778.1%	-$112K+48.8%	-$219K
Capital Expenditures	N/A	N/A	N/A	$149K+1043.5%	$13K+838.0%	$1K
Free Cash Flow	N/A	N/A	N/A	-$3.4M-2597.7%	-$125K+43.3%	-$220K
Investing Cash Flow	N/A	N/A	N/A	-$149K-1043.5%	-$13K-838.0%	-$1K
Financing Cash Flow	$4.3M-40.7%	$7.3M+4.8%	$7.0M+10.9%	$6.3M+4920.1%	$125K-25.9%	$169K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	$2.0M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22
Operating Cash Flow	-$983K-34.1%	-$733K+9.4%	-$809K+33.4%	-$1.2M-5.3%	-$1.2M+3.8%	-$1.2M-6.9%	-$1.1M+29.4%	-$1.6M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	$1.0M+42.3%	$732K+9.8%	$667K-24.9%	$887K-37.6%	$1.4M+32.5%	$1.1M+14.3%	$939K+2.7%	$915K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

MRZM Financial Ratios

Metric	FY23	FY22	FY21	FY20	FY19	FY18
Gross Margin	70.9%-5.9pp	76.7%+14.9pp	61.8%	N/A	N/A	0.6%
Operating Margin	-5278.1%+10707.4pp	-15985.5%-11790.4pp	-4195.1%-1253.2pp	-2941.9%	N/A	-1224.2%
Net Margin	-10767.8%+5578.4pp	-16346.2%-11116.0pp	-5230.2%-2265.2pp	-2965.0%	N/A	-1232.2%
Return on Equity	N/A	-219.1%-196.0pp	-23.1%-10.2pp	-12.9%-9.2pp	-3.7%-2.9pp	-0.9%
Return on Assets	-315.9%-217.2pp	-98.7%-82.0pp	-16.7%-4.3pp	-12.4%-8.7pp	-3.7%-2.8pp	-0.9%
Current Ratio	0.04-0.6	0.67-0.7	1.40-2.9	4.31+4.3	0.00-0.5	0.47
Debt-to-Equity	N/A	1.22+0.8	0.38+0.3	0.04+0.0	0.010.0	0.00
FCF Margin	N/A	N/A	N/A	-1710.7%	N/A	-1091.2%

Metric	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22
Gross Margin	N/A	N/A	70.6%+2.7pp	68.0%-3.9pp	71.9%-1.2pp	73.2%+3.6pp	69.5%	N/A
Operating Margin	N/A	N/A	-4176.2%+10629.9pp	-14806.1%-12130.5pp	-2675.6%-75.2pp	-2600.4%-946.7pp	-1653.7%	N/A
Net Margin	N/A	N/A	-16425.2%-13533.3pp	-2891.9%+11731.6pp	-14623.4%+4909.0pp	-19532.4%-17551.7pp	-1980.7%	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	-16.8%	N/A
Return on Assets	-9.2%+25.3pp	-34.5%-9.5pp	-25.0%-5.2pp	-19.8%+52.1pp	-71.9%+25.7pp	-97.6%-90.9pp	-6.7%	N/A
Current Ratio	0.030.0	0.030.0	0.03-0.0	0.04+0.0	0.020.0	0.03-0.2	0.23-0.4	0.67
Debt-to-Equity	N/A	N/A	N/A	N/A	N/A	N/A	1.51+0.3	1.22
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Note: Shareholder equity is negative (-$6.7M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

Note: The current ratio is below 1.0 (0.04), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is Marizyme's annual revenue?

Marizyme (MRZM) reported $646K in total revenue for fiscal year 2023. This represents a 176.6% 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 Marizyme's revenue growing?

Marizyme (MRZM) revenue grew by 176.6% year-over-year, from $233K to $646K in fiscal year 2023.

Is Marizyme profitable?

No, Marizyme (MRZM) reported a net income of -$69.5M in fiscal year 2023, with a net profit margin of -10767.8%.

What is Marizyme's EBITDA?

Marizyme (MRZM) had EBITDA of -$33.2M in fiscal year 2023, measuring earnings before interest, taxes, depreciation, and amortization.

What is Marizyme's gross margin?

Marizyme (MRZM) had a gross margin of 70.9% in fiscal year 2023, indicating the percentage of revenue retained after direct costs of goods sold.

What is Marizyme's operating margin?

Marizyme (MRZM) had an operating margin of -5278.1% in fiscal year 2023, reflecting the profitability of core business operations before interest and taxes.

What is Marizyme's net profit margin?

Marizyme (MRZM) had a net profit margin of -10767.8% in fiscal year 2023, representing the share of revenue converted into profit after all expenses.

What is Marizyme's operating cash flow?

Marizyme (MRZM) generated -$4.7M in operating cash flow during fiscal year 2023, representing cash generated from core business activities.

What are Marizyme's total assets?

Marizyme (MRZM) had $22.0M in total assets as of fiscal year 2023, including both current and long-term assets.

How much does Marizyme spend on research and development?

Marizyme (MRZM) invested $2.2M in research and development during fiscal year 2023.

How many shares does Marizyme have outstanding?

Marizyme (MRZM) had 132M shares outstanding as of fiscal year 2023.

What is Marizyme's current ratio?

Marizyme (MRZM) had a current ratio of 0.04 as of fiscal year 2023, which is below 1.0, which may suggest potential liquidity concerns.

What is Marizyme's return on assets (ROA)?

Marizyme (MRZM) had a return on assets of -315.9% for fiscal year 2023, measuring how efficiently the company uses its assets to generate profit.

What is Marizyme's cash runway?

Based on fiscal year 2023 data, Marizyme (MRZM) had $148K in cash against an annual operating cash burn of $4.7M. This gives an estimated cash runway of approximately 0 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.

Why is Marizyme's debt-to-equity ratio negative or not reported?

Marizyme (MRZM) has negative shareholder equity of -$6.7M as of fiscal year 2023, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is Marizyme's Altman Z-Score?

Marizyme (MRZM) has an Altman Z-Score of -16.15, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Marizyme's Piotroski F-Score?

Marizyme (MRZM) has a Piotroski F-Score of 2 out of 8 computable signals; 1 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 Marizyme's earnings high quality?

Marizyme (MRZM) has an earnings quality ratio of 0.07x, 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.