Nanobiotix S.A. (NBTX) 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 Oct 21, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 20-F for FY2025, filed Mar 31, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the NBTX SEC filings page.
Nanobiotix S.A. (NBTX) reported $38.3M in revenue for fiscal year 2025. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 8 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
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed: here 4 of 6, with the others left out rather than counted as zero. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Nanobiotix S.A.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Not available for Nanobiotix S.A., so it is left out of the overall score, which averages the 4 of 6 dimensions that can be computed.
Nanobiotix S.A. had 48M shares outstanding at the end of fiscal year 2025, against 47M in fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Nanobiotix S.A. scores 67/100 among other emerging companies.
Nanobiotix S.A. spent $27.1M on research and development in fiscal year 2025, which was 53.2% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Nanobiotix S.A. scores 78/100 among other emerging companies.
Nanobiotix S.A. reported revenue of $38.3M in fiscal year 2025. Revenue Progress ranks emerging companies on the three-year path of that line, and Nanobiotix S.A. scores 41/100 among other emerging companies.
Nanobiotix S.A.'s operations used $39.2M of cash in fiscal year 2025, against $20.2M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Nanobiotix S.A. scores 13/100 among other emerging companies.
Not available for Nanobiotix S.A., so it is left out of the overall score, which averages the 4 of 6 dimensions that can be computed.
Nanobiotix S.A. scores -3.82, below the 1.81 distress threshold. The score is pulled down most by an accumulated deficit of $470.4M against total assets of $79.5M. 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.
Nanobiotix S.A. passes 2 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.
Nanobiotix S.A. reported a net loss of $28.1M while operations used $39.2M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Nanobiotix S.A. reported an operating loss of $12.7M against $17.9M 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
Earnings & Revenue
Nanobiotix S.A. generated $38.3M in revenue in fiscal year 2025.
Nanobiotix S.A.'s EBITDA was -$10.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. The change from the prior year is not meaningful, because that figure was zero or negative.
Nanobiotix S.A. reported a net loss of $28.1M in fiscal year 2025. The change from the prior year is not meaningful, because that figure was zero or negative.
Nanobiotix S.A. earned -$0.59 per diluted share (EPS) in fiscal year 2025. The change from the prior year is not meaningful, because that figure was zero or negative.
Cash & Balance Sheet
Nanobiotix S.A. recorded an outflow of $39.9M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. The change from the prior year is not meaningful, because that figure was zero or negative.
Nanobiotix S.A. held $61.9M in cash as of fiscal year 2025; no long-term debt figure is on record for that period.
Not reported for fiscal year 2025.
Margins & Returns
Nanobiotix S.A.'s operating margin was -33.2% in fiscal year 2025, reflecting core business profitability.
Nanobiotix S.A.'s net profit margin was -73.5% in fiscal year 2025, showing the share of revenue converted to profit.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
Nanobiotix S.A. invested $27.1M in research and development in fiscal year 2025. This represents a decrease of 35.4% from the prior year.
Nanobiotix S.A. invested $631K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 27.9% from the prior year.
Not reported for fiscal year 2025.
NBTX 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 | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F |
|---|---|---|---|---|---|---|---|---|
| Revenue | $38.3M | N/A | $40.1M+683.9% | $5.1M+70.5% | $3.0M-2.5% | $3.1M+7.7% | $2.9M-28.4% | $4.0M |
| R&D Expenses | $27.1M-35.4% | $42.0M-1.2% | $42.5M+21.7% | $34.9M+1.5% | $34.4M+15.5% | $29.8M-12.8% | $34.1M+42.6% | $23.9M |
| Operating Income | -$12.7Mn/m | -$70.8Mn/m | -$29.6Mn/m | -$50.0Mn/m | -$59.5Mn/m | -$44.6Mn/m | -$52.5Mn/m | -$34.4M |
| EBITDA | -$10.9Mn/m | -$69.1Mn/m | -$27.9Mn/m | -$48.4Mn/m | -$57.7Mn/m | -$42.4Mn/m | -$50.5Mn/m | -$33.7M |
| Interest Expense | $17.9M+130.7% | $7.8M-52.7% | $16.4M+10.4% | $14.8M+1579.9% | $883Kn/m | -$5.7M-214.9% | $5.0M+413.0% | $970K |
| Income Tax | $4K-96.6% | $105K-21.2% | $133K+1140.8% | $11K+89.0% | $6K-48.6% | $11K+226.8% | $3Kn/m | $0 |
| Net Income | -$28.1Mn/m | -$70.5Mn/m | -$43.9Mn/m | -$61.0Mn/m | -$53.3Mn/m | -$41.1Mn/m | -$57.2Mn/m | -$34.8M |
| EPS (Basic) | -$0.59n/m | -$1.49n/m | -$1.19n/m | -$1.75n/m | -$1.53n/m | -$1.69n/m | -$2.64n/m | -$1.78 |
| EPS (Diluted) | -$0.59n/m | -$1.49n/m | -$1.19n/m | -$1.75n/m | -$1.53n/m | -$1.69n/m | -$2.64n/m | -$1.78 |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, SG&A Expenses, Diluted Shares (Avg).
NBTX 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 | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $79.5M+14.0% | $69.8M-32.8% | $103.9M+62.4% | $63.9M-44.5% | $115.2M-29.7% | $163.9M+159.8% | $63.1M+6.8% | $59.1M |
| Current Assets | $73.6M+15.7% | $63.6M-34.1% | $96.6M+72.5% | $56.0M-46.8% | $105.3M-31.2% | $153.2M+195.8% | $51.8M+6.3% | $48.7M |
| Cash & Equivalents | $61.9M+20.2% | $51.5M-38.2% | $83.3M+88.1% | $44.3M-53.4% | $95.0M-34.8% | $145.7M+269.9% | $39.4M-5.0% | $41.5M |
| Total Liabilities | $178.7M+29.7% | $137.8M+30.1% | $105.9M+14.0% | $92.9M+9.4% | $84.9M+9.2% | $77.7M+19.1% | $65.2M+52.5% | $42.8M |
| Current Liabilities | $67.5M+10.6% | $61.0M+10.6% | $55.2M+35.9% | $40.6M-2.7% | $41.7M+79.1% | $23.3M+44.6% | $16.1M+15.7% | $13.9M |
| Non-Current Liabilities | $111.2M+44.8% | $76.8M+51.4% | $50.7M-3.0% | $52.3M+21.2% | $43.2M-20.7% | $54.5M+10.8% | $49.1M+70.3% | $28.9M |
| Total Equity | -$99.1Mn/m | -$68.0Mn/m | -$2.0Mn/m | -$28.9M-195.4% | $30.3M-64.8% | $86.2Mn/m | -$2.1M-113.1% | $16.3M |
| Retained Earnings | -$470.4Mn/m | -$393.8Mn/m | -$306.2Mn/m | -$243.1Mn/m | -$207.6M | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Short-Term Investments, Inventory, Accounts Receivable, Long-Term Investments, Goodwill, Long-Term Debt.
NBTX 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 | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$39.2Mn/m | -$20.2Mn/m | -$13.8Mn/m | -$39.7Mn/m | -$33.8Mn/m | -$33.7Mn/m | -$46.2Mn/m | -$29.8M |
| Depreciation & Amortization | $1.8M+4.6% | $1.7M+0.3% | $1.7M+4.3% | $1.6M-9.1% | $1.8M-17.7% | $2.1M+8.1% | $2.0M+179.8% | $709K |
| Capital Expenditures | $631K-27.9% | $876K+141.3% | $363K+268.7% | $98K-61.9% | $258K+119.8% | $117K-90.4% | $1.2M+157.0% | $477K |
| Free Cash Flow | -$39.9Mn/m | -$21.1Mn/m | -$14.2Mn/m | -$39.8Mn/m | -$34.1Mn/m | -$33.8Mn/m | -$47.4Mn/m | -$30.2M |
| Investing Cash Flow | -$678Kn/m | -$989Kn/m | -$386K-361.5% | $148Kn/m | -$274Kn/m | -$137Kn/m | -$1.6M-2113.9% | $81K |
| Financing Cash Flow | $43.9Mn/m | -$5.3M-110.3% | $51.7Mn/m | -$6.0Mn/m | -$5.9M-104.3% | $136.7M+193.5% | $46.6M+173.8% | $17.0M |
Not reported in any period shown, so not listed: Stock-Based Compensation, Dividends Paid, Share Buybacks.
NBTX 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 | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | -33.2% | N/A | -74.0% | -977.8% | -1986.4% | -1450.2% | -1841.0% | -864.2% |
| Net Margin | -73.5% | N/A | -109.7% | -1194.3% | -1778.0% | -1337.2% | -2003.7% | -872.2% |
| Return on Equity | N/A | N/A | N/A | N/A | -175.7%-128.0pp | -47.7% | N/A | -213.1% |
| Return on Assets | -35.4%+65.7pp | -101.1%-58.8pp | -42.3%+53.2pp | -95.4%-49.2pp | -46.2%-21.2pp | -25.1%+65.5pp | -90.6%-31.8pp | -58.8% |
| Current Ratio | 1.090.0x | 1.04-0.7x | 1.75+0.4x | 1.38-1.1x | 2.53-4.1x | 6.58+3.4x | 3.22-0.3x | 3.50 |
| Liabilities-to-Equity | N/A | N/A | N/A | N/A | 2.80+1.9x | 0.90 | N/A | 2.62 |
| Asset Turnover | 0.48+0.6x | -0.11-0.5x | 0.39+0.3x | 0.08+0.1x | 0.030.0x | 0.020.0x | 0.050.0x | 0.07 |
| FCF Margin | -104.2% | N/A | -35.4% | -778.8% | -1137.1% | -1100.1% | -1663.1% | -758.9% |
Not reported in any period shown, so not listed: Gross Margin, Debt-to-Equity.
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: Operating Margin, Net Margin, FCF Margin.
Note: Shareholder equity is negative (-$99.1M), which causes the debt-to-equity, liabilities-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
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 |
|---|---|---|---|---|---|---|
| Nanobiotix S.A. NBTX | FY2025 | $38.3M | -$28.1M | -73.5% | $1.3B | 50/100 |
| Bicycle Therapeutics plc BCYC | FY2025 | $72.6M | -$219.0M | N/A | $249.9M | 60/100 |
| Replimune Group, Inc. REPL | FY2026 | N/A | -$313.9M | N/A | $1.1B | — |
| Arcturus Therapeutics Holdings Inc. ARCT | FY2025 | $82.0M | -$65.8M | -80.2% | $314.6M | 54/100 |
| Erasca, Inc. ERAS | FY2025 | N/A | -$124.5M | N/A | $5.1B | — |
Where Nanobiotix S.A. Ranks
Frequently Asked Questions
What is Nanobiotix S.A.'s annual revenue?
Nanobiotix S.A. (NBTX) reported $38.3M in total revenue for fiscal year 2025. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Is Nanobiotix S.A. profitable?
No, Nanobiotix S.A. (NBTX) reported a net loss of $28.1M in fiscal year 2025, with a net profit margin of -73.5%.
What is Nanobiotix S.A.'s EBITDA?
Nanobiotix S.A. (NBTX) had EBITDA of -$10.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Nanobiotix S.A.'s operating margin?
Nanobiotix S.A. (NBTX) had an operating margin of -33.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Nanobiotix S.A.'s net profit margin?
Nanobiotix S.A. (NBTX) had a net profit margin of -73.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Nanobiotix S.A.'s free cash flow?
Nanobiotix S.A. (NBTX) recorded an outflow of $39.9M in free cash flow during fiscal year 2025. 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.
What is Nanobiotix S.A.'s operating cash flow?
Nanobiotix S.A. (NBTX) recorded an outflow of $39.2M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Nanobiotix S.A.'s total assets?
Nanobiotix S.A. (NBTX) had $79.5M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Nanobiotix S.A.'s capital expenditures?
Nanobiotix S.A. (NBTX) invested $631K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Nanobiotix S.A. spend on research and development?
Nanobiotix S.A. (NBTX) invested $27.1M in research and development during fiscal year 2025.
What is Nanobiotix S.A.'s current ratio?
Nanobiotix S.A. (NBTX) had a current ratio of 1.09 as of fiscal year 2025, which is considered adequate.
What is Nanobiotix S.A.'s return on assets (ROA)?
Nanobiotix S.A. (NBTX) had a return on assets of -35.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Nanobiotix S.A.'s P/E ratio?
Nanobiotix S.A. (NBTX) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $1.3B as of Oct 21, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Nanobiotix S.A.'s price-to-sales ratio?
Nanobiotix S.A. (NBTX) trades at 34.4x sales, its market capitalization divided by $38.3M revenue, FY2025. The market capitalization is $1.3B as of Oct 21, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Why is Nanobiotix S.A.'s debt-to-equity ratio negative or not reported?
Nanobiotix S.A. (NBTX) has negative shareholder equity of -$99.1M as of fiscal year 2025, so no debt-to-equity or liabilities-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 Nanobiotix S.A.'s Altman Z-Score?
Nanobiotix S.A. (NBTX) has an Altman Z-Score of -3.82, 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 Nanobiotix S.A.'s Piotroski F-Score?
Nanobiotix S.A. (NBTX) has a Piotroski F-Score of 2 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 Nanobiotix S.A.'s earnings high quality?
Nanobiotix S.A. (NBTX) reported a net loss of $28.1M while operations used $39.2M 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 Nanobiotix S.A. cover its interest payments?
Nanobiotix S.A. (NBTX) reported an operating loss of $12.7M against $17.9M 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.
How financially healthy is Nanobiotix S.A.?
Nanobiotix S.A. (NBTX) scores 50 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is the average of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. For Nanobiotix S.A. it averages the 4 of 6 dimensions that can be computed; the others are left out rather than counted as zero. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.