NKGen Biotech Inc Financials
This page shows NKGen Biotech Inc (NKGN) 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).
Financial Health Signals
NKGen Biotech Inc passes 2 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
For every $1 of reported earnings, NKGen Biotech Inc generates $0.47 in operating cash flow (-$20.9M OCF vs -$44.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
NKGen Biotech Inc earns $-9.9 in operating income for every $1 of interest expense (-$27.0M vs $2.7M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
NKGen Biotech Inc's EBITDA was -$25.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 9.7% from the prior year.
NKGen Biotech Inc reported -$44.3M in net income in fiscal year 2024. This represents an increase of 46.6% from the prior year.
NKGen Biotech Inc earned $-1.54 per diluted share (EPS) in fiscal year 2024. This represents an increase of 71.4% from the prior year.
NKGen Biotech Inc held $106K in cash against $0 in long-term debt as of fiscal year 2024.
NKGen Biotech Inc had 44M shares outstanding in fiscal year 2024. This represents an increase of 102.1% from the prior year.
NKGen Biotech Inc invested $10.7M in research and development in fiscal year 2024. This represents a decrease of 32.0% from the prior year.
NKGN Income Statement
| Metric | Q1'25 | Q1'24 | Q3'24 | Q2'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | N/A | $0 | N/A | N/A |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | $0 | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | $0 | N/A | N/A |
| R&D Expenses | $1.9M-42.6% | $3.2M+16.5% | $2.8M-10.0% | $3.1M | N/A | $3.9M-3.0% | $4.0M+12.5% | $3.6M |
| SG&A Expenses | $2.8M-35.9% | $4.4M+9.4% | $4.0M-8.3% | $4.4M | N/A | $3.0M+6508.9% | $45K-98.6% | $3.2M |
| Operating Income | -$4.7M+38.8% | -$7.6M-12.3% | -$6.8M+9.0% | -$7.5M | N/A | -$6.9M-4.4% | -$6.6M+2.8% | -$6.8M |
| Interest Expense | $509K-52.4% | $1.1M+126.5% | $472K-27.0% | $647K | N/A | $211K+240.3% | $62K+82.4% | $34K |
| Income Tax | $0 | $0 | $0 | $0 | N/A | $0 | $0-100.0% | $404K |
| Net Income | $15.3M+385.2% | -$5.4M-181.6% | $6.6M+141.0% | -$16.1M | N/A | -$33.2M-322.7% | -$7.8M+5.7% | -$8.3M |
| EPS (Diluted) | $-0.04+84.0% | $-0.25-266.7% | $0.15+122.4% | $-0.67 | N/A | $-2.48-320.3% | $-0.59+6.3% | $-0.63 |
NKGN Balance Sheet
| Metric | Q1'25 | Q1'24 | Q3'24 | Q2'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $15.8M-2.4% | $16.2M+8.2% | $15.0M-4.2% | $15.6M-5.1% | $16.5M-34.6% | $25.2M-60.4% | $63.6M-63.8% | $175.7M |
| Current Assets | $2.4M-3.2% | $2.5M+169.9% | $911K-27.1% | $1.2M-35.3% | $1.9M-81.4% | $10.3M+13582.3% | $76K-74.4% | $295K |
| Cash & Equivalents | $6K-94.3% | $106K+1225.0% | $8K-89.9% | $79K+203.8% | $26K-99.7% | $8.8M+21092.0% | $41K-80.0% | $207K |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | $0 | $0 | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $66.2M-23.2% | $86.1M+38.8% | $62.0M-27.3% | $85.4M+13.6% | $75.2M+14.2% | $65.8M-13.3% | $76.0M-58.1% | $181.2M |
| Current Liabilities | $43.9M-24.3% | $58.0M+56.2% | $37.1M-27.8% | $51.4M+30.3% | $39.5M+1.6% | $38.8M+516.5% | $6.3M+78.6% | $3.5M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$50.3M+28.0% | -$69.9M-48.6% | -$47.0M+32.5% | -$69.7M-18.8% | -$58.7M-44.4% | -$40.6M-228.9% | -$12.4M-124.8% | -$5.5M |
| Retained Earnings | -$191.1M+7.4% | -$206.4M-16.6% | -$177.0M+3.6% | -$183.6M-13.2% | -$162.1M-26.1% | -$128.5M-1405.0% | -$8.5M-61.1% | -$5.3M |
NKGN Cash Flow Statement
| Metric | Q1'25 | Q1'24 | Q3'24 | Q2'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.8M+59.7% | -$7.0M-78.5% | -$3.9M+35.1% | -$6.0M+13.5% | -$6.9M-52.0% | -$4.6M+17.5% | -$5.5M-12.5% | -$4.9M |
| Capital Expenditures | N/A | N/A | N/A | N/A | $0 | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | -$6.9M | N/A | N/A | N/A |
| Investing Cash Flow | -$52K-225.0% | -$16K+5.9% | -$17K-13.3% | -$15K+16.7% | -$18K | $0+100.0% | -$17K-30.8% | -$13K |
| Financing Cash Flow | $2.6M-62.0% | $7.0M+82.4% | $3.8M-37.0% | $6.1M+436.1% | -$1.8M-114.9% | $12.1M+93.4% | $6.3M+12.8% | $5.6M |
| 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 |
NKGN Financial Ratios
| Metric | Q1'25 | Q1'24 | Q3'24 | Q2'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | 96.9%+129.9pp | -33.0%-77.0pp | 44.0%+146.8pp | -102.8% | N/A | -131.7%-119.3pp | -12.3%-7.6pp | -4.7% |
| Current Ratio | 0.05+0.0 | 0.04+0.0 | 0.020.0 | 0.02-0.0 | 0.05-0.2 | 0.27+0.3 | 0.01-0.1 | 0.08 |
| Debt-to-Equity | -1.31-0.1 | -1.23+0.1 | -1.32-0.1 | -1.22+0.1 | -1.28+0.3 | -1.62+4.5 | -6.15+26.8 | -32.96 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Note: Shareholder equity is negative (-$69.9M), 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
Is NKGen Biotech Inc profitable?
No, NKGen Biotech Inc (NKGN) reported a net income of -$44.3M in fiscal year 2024.
What is NKGen Biotech Inc's earnings per share (EPS)?
NKGen Biotech Inc (NKGN) reported diluted earnings per share of $-1.54 for fiscal year 2024. This represents a 71.4% 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.
What is NKGen Biotech Inc's EBITDA?
NKGen Biotech Inc (NKGN) had EBITDA of -$25.8M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is NKGen Biotech Inc's operating cash flow?
NKGen Biotech Inc (NKGN) generated -$20.9M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are NKGen Biotech Inc's total assets?
NKGen Biotech Inc (NKGN) had $16.2M in total assets as of fiscal year 2024, including both current and long-term assets.
How much does NKGen Biotech Inc spend on research and development?
NKGen Biotech Inc (NKGN) invested $10.7M in research and development during fiscal year 2024.
How many shares does NKGen Biotech Inc have outstanding?
NKGen Biotech Inc (NKGN) had 44M shares outstanding as of fiscal year 2024.
What is NKGen Biotech Inc's current ratio?
NKGen Biotech Inc (NKGN) had a current ratio of 0.04 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.
What is NKGen Biotech Inc's debt-to-equity ratio?
NKGen Biotech Inc (NKGN) had a debt-to-equity ratio of -1.23 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is NKGen Biotech Inc's return on assets (ROA)?
NKGen Biotech Inc (NKGN) had a return on assets of -272.8% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is NKGen Biotech Inc's cash runway?
Based on fiscal year 2024 data, NKGen Biotech Inc (NKGN) had $106K in cash against an annual operating cash burn of $20.9M. 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 NKGen Biotech Inc's debt-to-equity ratio negative or unusual?
NKGen Biotech Inc (NKGN) has negative shareholder equity of -$69.9M as of fiscal year 2024, which causes the debt-to-equity ratio to appear negative or not meaningful. 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 NKGen Biotech Inc's Piotroski F-Score?
NKGen Biotech Inc (NKGN) has a Piotroski F-Score of 2 out of 9, indicating weak 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are NKGen Biotech Inc's earnings high quality?
NKGen Biotech Inc (NKGN) has an earnings quality ratio of 0.47x, 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.
Can NKGen Biotech Inc cover its interest payments?
NKGen Biotech Inc (NKGN) has an interest coverage ratio of -9.9x, meaning it can struggle to cover its interest obligations. 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.