Nektar Therapeutics Financials
This page shows Nektar Therapeutics (NKTR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Nektar Therapeutics has an operating margin of -106.9%, meaning the company retains $-107 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -292.6% the prior year.
Nektar Therapeutics's revenue grew 9.2% year-over-year to $98.4M, a solid pace of expansion. This earns a growth score of 55/100.
Nektar Therapeutics has elevated debt relative to equity (D/E of 4.00), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.
With a current ratio of 4.26, Nektar Therapeutics holds $4.26 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
While Nektar Therapeutics generated -$175.7M in operating cash flow, capex of $1.5M consumed most of it, leaving -$177.2M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Nektar Therapeutics passes 4 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Nektar Therapeutics generates $1.48 in operating cash flow (-$175.7M OCF vs -$119.0M 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
Nektar Therapeutics generated $98.4M in revenue in fiscal year 2024. This represents an increase of 9.2% from the prior year.
Nektar Therapeutics's EBITDA was -$101.1M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 60.6% from the prior year.
Nektar Therapeutics generated -$177.2M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 8.4% from the prior year.
Nektar Therapeutics reported -$119.0M in net income in fiscal year 2024. This represents an increase of 56.9% from the prior year.
Nektar Therapeutics earned $-0.58 per diluted share (EPS) in fiscal year 2024. This represents an increase of 60.0% from the prior year.
Nektar Therapeutics held $44.3M in cash against $0 in long-term debt as of fiscal year 2024.
Nektar Therapeutics had 12M shares outstanding in fiscal year 2024. This represents a decrease of 93.5% from the prior year.
Nektar Therapeutics's gross margin was 68.8% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 6.3 percentage points from the prior year.
Nektar Therapeutics's operating margin was -106.9% in fiscal year 2024, reflecting core business profitability. This is up 185.7 percentage points from the prior year.
Nektar Therapeutics's net profit margin was -120.9% in fiscal year 2024, showing the share of revenue converted to profit. This is up 185.5 percentage points from the prior year.
Nektar Therapeutics invested $120.9M in research and development in fiscal year 2024. This represents an increase of 5.9% from the prior year.
Nektar Therapeutics spent $3.0M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
Nektar Therapeutics invested $1.5M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 69.7% from the prior year.
NKTR Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $11.8M+5.5% | $11.2M+6.8% | $10.5M-64.1% | $29.2M+24.2% | $23.5M+8.5% | $21.6M-9.4% | $23.9M-1.1% | $24.1M |
| Cost of Revenue | $0 | $0 | $0-100.0% | $8.0M-18.1% | $9.7M+14.1% | $8.5M+17.2% | $7.3M-41.4% | $12.4M |
| Gross Profit | $11.8M+5.5% | $11.2M+6.8% | $10.5M-50.7% | $21.2M+54.2% | $13.7M+4.9% | $13.1M-21.1% | $16.6M+41.7% | $11.7M |
| R&D Expenses | $27.3M-8.8% | $29.9M-1.9% | $30.5M+6.0% | $28.7M-3.3% | $29.7M+8.5% | $27.4M-8.5% | $29.9M+24.4% | $24.1M |
| SG&A Expenses | $16.1M-5.9% | $17.1M-29.9% | $24.3M+42.1% | $17.1M-16.5% | $20.5M+1.8% | $20.1M+16.3% | $17.3M-18.1% | $21.1M |
| Operating Income | -$31.7M+12.6% | -$36.2M+18.6% | -$44.5M-410.4% | $14.3M+128.8% | -$49.8M-40.5% | -$35.4M-5.7% | -$33.5M+25.3% | -$44.9M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | -$33K+82.4% | -$188K-461.5% | $52K+120.1% | -$259K-663.0% | $46K+231.4% | -$35K-20.7% | -$29K+52.5% | -$61K |
| Net Income | -$35.5M+14.6% | -$41.6M+18.3% | -$50.9M-800.8% | $7.3M+113.9% | -$52.4M-42.3% | -$36.8M+12.5% | -$42.1M+8.2% | -$45.8M |
| EPS (Diluted) | $-1.87+36.6% | $-2.95 | $-0.24 | $6.03 | $-3.76-1878.9% | $-0.19+9.5% | $-0.21+12.5% | $-0.24 |
NKTR Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $301.3M+45.2% | $207.5M-19.0% | $256.2M-15.7% | $303.9M-11.5% | $343.3M-13.3% | $396.0M-0.5% | $398.0M-10.0% | $442.2M |
| Current Assets | $281.4M+50.8% | $186.6M-18.9% | $229.9M-12.0% | $261.3M-11.5% | $295.2M-7.7% | $319.8M-3.3% | $330.7M-17.1% | $399.0M |
| Cash & Equivalents | $41.0M-4.6% | $43.0M+10.5% | $38.9M-12.1% | $44.3M+58.4% | $27.9M-42.6% | $48.6M+37.9% | $35.3M-45.7% | $64.9M |
| Inventory | N/A | N/A | N/A | $0-100.0% | $14.5M-10.9% | $16.2M+0.9% | $16.1M+6.4% | $15.1M |
| Accounts Receivable | N/A | N/A | N/A | $0-100.0% | $1.2M-66.9% | $3.6M+200.2% | $1.2M-45.3% | $2.2M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | $0 | $0 |
| Total Liabilities | $216.3M-6.7% | $231.7M-4.4% | $242.5M-0.3% | $243.1M-7.8% | $263.6M-2.1% | $269.3M+0.8% | $267.0M-5.6% | $282.9M |
| Current Liabilities | $66.3M-7.1% | $71.4M+0.6% | $70.9M+15.5% | $61.4M+7.1% | $57.3M+9.4% | $52.4M+2.2% | $51.3M-1.6% | $52.1M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $85.1M+451.4% | -$24.2M-276.2% | $13.7M-77.4% | $60.7M-23.8% | $79.7M-37.1% | $126.7M-3.3% | $131.0M-17.8% | $159.4M |
| Retained Earnings | -$3.7B-1.0% | -$3.7B-1.1% | -$3.6B-1.4% | -$3.6B-0.8% | -$3.6B-1.5% | -$3.5B-1.1% | -$3.5B-1.2% | -$3.4B |
NKTR Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$48.8M-6.6% | -$45.7M+6.8% | -$49.1M-6.2% | -$46.2M-22.5% | -$37.7M+21.3% | -$47.9M-1.8% | -$47.0M-11.7% | -$42.1M |
| Capital Expenditures | $114K+208.1% | $37K+1750.0% | $2K-99.6% | $459K+146.8% | $186K+18.5% | $157K-33.8% | $237K+618.2% | $33K |
| Free Cash Flow | -$48.9M-6.8% | -$45.8M+6.7% | -$49.1M-5.2% | -$46.6M-23.1% | -$37.9M+21.1% | -$48.0M-1.6% | -$47.3M-12.2% | -$42.2M |
| Investing Cash Flow | -$94.9M-291.2% | $49.6M+13.6% | $43.7M-27.4% | $60.2M+254.6% | $17.0M-11.8% | $19.3M+10.8% | $17.4M-69.2% | $56.4M |
| Financing Cash Flow | $141.7M+67045.5% | $211K+2914.3% | $7K-91.6% | $83K+336.8% | $19K-100.0% | $42.0M+349925.0% | $12K | $0 |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $0 | $0 | $0 | $0 | $0-100.0% | $3.0M | $0 | $0 |
NKTR Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 100.0%0.0pp | 100.0%0.0pp | 100.0%+27.3pp | 72.7%+14.1pp | 58.5%-2.0pp | 60.6%-9.0pp | 69.5%+21.0pp | 48.5% |
| Operating Margin | -268.6%+55.6pp | -324.2%+101.5pp | -425.8%-474.9pp | 49.2%+261.1pp | -211.9%-48.2pp | -163.7%-23.4pp | -140.3%+45.5pp | -185.8% |
| Net Margin | -301.3%+70.9pp | -372.2%+114.2pp | -486.4%-511.3pp | 24.9%+247.8pp | -222.9%-52.9pp | -170.1%+6.1pp | -176.2%+13.7pp | -189.8% |
| Return on Equity | N/A | N/A | N/A | 11.9% | N/A | N/A | N/A | N/A |
| Return on Assets | -11.8%+8.2pp | -20.0%-0.2pp | -19.9%-22.3pp | 2.4%+17.6pp | -15.3%-6.0pp | -9.3%+1.3pp | -10.6%-0.2pp | -10.4% |
| Current Ratio | 4.24+1.6 | 2.61-0.6 | 3.24-1.0 | 4.26-0.9 | 5.15-1.0 | 6.10-0.3 | 6.45-1.2 | 7.66 |
| Debt-to-Equity | 2.54+12.1 | -9.57-27.2 | 17.65+13.6 | 4.00+0.7 | 3.31+1.2 | 2.13+0.1 | 2.04+0.3 | 1.77 |
| FCF Margin | -414.6%-4.9pp | -409.6%+59.4pp | -469.0%-309.1pp | -159.9%+1.4pp | -161.3%+60.7pp | -222.0%-24.1pp | -198.0%-23.4pp | -174.6% |
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Frequently Asked Questions
What is Nektar Therapeutics's annual revenue?
Nektar Therapeutics (NKTR) reported $98.4M in total revenue for fiscal year 2024. This represents a 9.2% 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 Nektar Therapeutics's revenue growing?
Nektar Therapeutics (NKTR) revenue grew by 9.2% year-over-year, from $90.1M to $98.4M in fiscal year 2024.
Is Nektar Therapeutics profitable?
No, Nektar Therapeutics (NKTR) reported a net income of -$119.0M in fiscal year 2024, with a net profit margin of -120.9%.
What is Nektar Therapeutics's earnings per share (EPS)?
Nektar Therapeutics (NKTR) reported diluted earnings per share of $-0.58 for fiscal year 2024. 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 Nektar Therapeutics's EBITDA?
Nektar Therapeutics (NKTR) had EBITDA of -$101.1M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Nektar Therapeutics's gross margin?
Nektar Therapeutics (NKTR) had a gross margin of 68.8% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Nektar Therapeutics's operating margin?
Nektar Therapeutics (NKTR) had an operating margin of -106.9% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Nektar Therapeutics's net profit margin?
Nektar Therapeutics (NKTR) had a net profit margin of -120.9% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Nektar Therapeutics's free cash flow?
Nektar Therapeutics (NKTR) generated -$177.2M in free cash flow during fiscal year 2024. This represents a 8.4% 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 Nektar Therapeutics's operating cash flow?
Nektar Therapeutics (NKTR) generated -$175.7M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Nektar Therapeutics's total assets?
Nektar Therapeutics (NKTR) had $303.9M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Nektar Therapeutics's capital expenditures?
Nektar Therapeutics (NKTR) invested $1.5M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Nektar Therapeutics spend on research and development?
Nektar Therapeutics (NKTR) invested $120.9M in research and development during fiscal year 2024.
Does Nektar Therapeutics buy back shares?
Yes, Nektar Therapeutics (NKTR) spent $3.0M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
How many shares does Nektar Therapeutics have outstanding?
Nektar Therapeutics (NKTR) had 12M shares outstanding as of fiscal year 2024.
What is Nektar Therapeutics's current ratio?
Nektar Therapeutics (NKTR) had a current ratio of 4.26 as of fiscal year 2024, which is generally considered healthy.
What is Nektar Therapeutics's debt-to-equity ratio?
Nektar Therapeutics (NKTR) had a debt-to-equity ratio of 4.00 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Nektar Therapeutics's return on assets (ROA)?
Nektar Therapeutics (NKTR) had a return on assets of -39.1% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Nektar Therapeutics's cash runway?
Based on fiscal year 2024 data, Nektar Therapeutics (NKTR) had $44.3M in cash against an annual operating cash burn of $175.7M. This gives an estimated cash runway of approximately 3 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.
What is Nektar Therapeutics's Piotroski F-Score?
Nektar Therapeutics (NKTR) has a Piotroski F-Score of 4 out of 9, indicating neutral 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 Nektar Therapeutics's earnings high quality?
Nektar Therapeutics (NKTR) has an earnings quality ratio of 1.48x, 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.
How financially healthy is Nektar Therapeutics?
Nektar Therapeutics (NKTR) scores 31 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.