What is Olema Pharmaceuticals, Inc.'s earnings per share (EPS)?

Olema Pharmaceuticals, Inc. (OLMA) reported diluted earnings per share of -$1.87 for fiscal year 2025. This represents a 15.0% 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.

Olema Pharmaceuticals, Inc. Financials

OLMA

FY2025 annual

Revenue Not reported for FY2025

Net Income -$162.5M -25.5% YoY

EPS (Diluted) -$1.87 +15.0% YoY

Free Cash Flow Not reported for FY2025

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 10, 2026 Currency USD FYE December

This page shows Olema Pharmaceuticals, Inc. (OLMA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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 OLMA FY2025 2026-08-30

Olema's operating model is defined by escalating R&D investment, recurring cash consumption, and repeated equity financing rather than revenue generation.

R&D spending rose from $51.1M in FY2021 to $157.7M in FY2025, making development investment the clearest source of the widening operating deficit. Operating cash flow moved from -$50.7M to -$146.7M over the same span, showing that the heavier spending is consuming cash before any revenue engine is visible.

FY2025 ended with total liabilities of $54.9M against $533.4M of assets, so the balance sheet is financed mainly by equity rather than debt. The 10.0x current ratio and $211.3M financing inflow show liquidity has been supported by capital raising, not operating cash generation.

The FY2025 net loss was $162.5M versus operating cash outflow of $146.7M; that modest gap indicates noncash expenses or working-capital effects softened cash use without changing the underlying funding dependence. The reported liquidity measure equaled 41.3 months of the latest annual operating outflow, a balance-sheet comparison rather than a forecast.

Financial Health Signals

Financial health score not available

Olema Pharmaceuticals, 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.

Piotroski F-Score Partial

1/6

Olema Pharmaceuticals, Inc. passes 1 of 6 computable financial strength tests (3 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).

Earnings Quality No Cash Backing

N/A

Olema Pharmaceuticals, Inc. reported a net loss of $162.5M while operations used $146.7M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Key Financial Metrics

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Earnings & Revenue

EBITDA

-$178.2M

YoY-25.6%

Olema Pharmaceuticals, Inc.'s EBITDA was -$178.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 25.6% from the prior year.

Net Income

-$162.5M

YoY-25.5%

Olema Pharmaceuticals, Inc. reported -$162.5M in net income in fiscal year 2025. This represents a decrease of 25.5% from the prior year.

EPS (Diluted)

-$1.87

YoY+15.0%

Olema Pharmaceuticals, Inc. earned -$1.87 per diluted share (EPS) in fiscal year 2025. This represents an increase of 15.0% from the prior year.

Revenue

Not reported for fiscal year 2025.

Cash & Balance Sheet

Cash & Debt

$48.3M

YoY-65.4%

5Y CAGR-32.3%

Olema Pharmaceuticals, Inc. held $48.3M in cash as of fiscal year 2025; long-term debt is not reported for that period.

Shares Outstanding

87M

YoY+27.5%

Olema Pharmaceuticals, Inc. had 87M shares outstanding in fiscal year 2025. This represents an increase of 27.5% from the prior year.

Free Cash Flow

Not reported for fiscal year 2025.

Dividends Per Share

Not reported for fiscal year 2025.

Margins & Returns

Return on Equity

-34.0%

YoY-2.3pp

5Y CAGR-27.4pp

Olema Pharmaceuticals, Inc.'s ROE was -34.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 2.3 percentage points from the prior year.

Gross Margin

Not reported for fiscal year 2025.

Operating Margin

Not reported for fiscal year 2025.

Net Margin

Not reported for fiscal year 2025.

Capital Allocation

R&D Spending

$157.7M

YoY+26.6%

5Y CAGR+63.0%

Olema Pharmaceuticals, Inc. invested $157.7M in research and development in fiscal year 2025. This represents an increase of 26.6% from the prior year.

Share Buybacks

Not reported for fiscal year 2025.

Capital Expenditures

Not reported for fiscal year 2025.

OLMA Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

OLMA quarterly income statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19
R&D Expenses	N/A	$157.7M+26.6%	$124.5M+44.6%	$86.1M+4.7%	$82.3M+61.0%	$51.1M+272.9%	$13.7M+249.6%	$3.9M
SG&A Expenses	N/A	$21.0M+18.4%	$17.7M-5.7%	$18.8M-23.8%	$24.7M+21.2%	$20.4M+160.6%	$7.8M+1841.4%	$403K
Operating Income	N/A	-$178.7M-25.6%	-$142.3M-35.5%	-$105.0M+1.9%	-$107.0M-49.7%	-$71.5M-232.1%	-$21.5M-398.0%	-$4.3M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	$653K	N/A
Income Tax	N/A	$3K+50.0%	$2K0.0%	$2K+100.0%	$1K	N/A	N/A	N/A
Net Income	N/A	-$162.5M-25.5%	-$129.5M-34.0%	-$96.7M+7.8%	-$104.8M-47.4%	-$71.1M-221.4%	-$22.1M-412.5%	-$4.3M
EPS (Diluted)	-$2.13	-$1.87+15.0%	-$2.20-2.8%	-$2.14+18.3%	-$2.62-45.6%	-$1.80	-$3.42	-$1.66

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
R&D Expenses	$57.8M+17.4%	$49.2M	N/A	$40.0M-9.0%	$43.9M+43.4%	$30.6M	N/A	$33.2M
SG&A Expenses	$9.4M+7.3%	$8.8M	N/A	$5.9M+49.6%	$4.0M-6.8%	$4.2M	N/A	$4.4M
Operating Income	-$67.2M-15.9%	-$58.0M	N/A	-$45.9M+4.2%	-$47.9M-37.3%	-$34.9M	N/A	-$37.6M
Net Income	-$63.2M-19.0%	-$53.1M	N/A	-$42.2M+3.6%	-$43.8M-44.1%	-$30.4M	N/A	-$34.6M
EPS (Diluted)	-$0.61-17.3%	-$0.52-2.0%	-$0.51-4.1%	-$0.49+3.9%	-$0.51-41.7%	-$0.36+10.0%	-$0.40+33.3%	-$0.60

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Interest Expense, Income Tax.

OLMA Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

OLMA quarterly balance sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$533.4M+18.3%	$451.0M+62.8%	$276.9M+28.4%	$215.6M-27.1%	$295.9M-13.6%	$342.7M	N/A
Current Assets	$515.5M+17.6%	$438.5M+64.5%	$266.5M+27.6%	$208.9M-28.1%	$290.7M-15.0%	$342.1M	N/A
Cash & Equivalents	$48.3M-65.4%	$139.5M+103.5%	$68.5M+189.2%	$23.7M+71.6%	$13.8M-95.9%	$338.5M+497766.2%	$68K
Total Liabilities	$54.9M+30.6%	$42.0M+82.3%	$23.1M+27.4%	$18.1M+59.1%	$11.4M+148.1%	$4.6M	N/A
Current Liabilities	$51.8M+24.1%	$41.8M+93.1%	$21.6M+30.6%	$16.5M+83.5%	$9.0M+96.7%	$4.6M	N/A
Total Equity	$478.6M+17.0%	$409.0M+61.1%	$253.9M+28.5%	$197.5M-30.6%	$284.6M-15.8%	$338.1M+3291.8%	-$10.6M
Retained Earnings	-$597.6M-37.3%	-$435.1M-42.4%	-$305.6M-46.3%	-$209.0M-100.6%	-$104.2M-214.8%	-$33.1M	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$486.6M-8.3%	$530.6M-0.5%	$533.4M+51.3%	$352.5M-7.7%	$382.0M-6.7%	$409.6M-9.2%	$451.0M+95.9%	$230.2M
Current Assets	$469.9M-8.4%	$513.2M-0.4%	$515.5M+54.2%	$334.3M-9.1%	$367.7M-7.3%	$396.7M-9.5%	$438.5M+101.1%	$218.0M
Cash & Equivalents	$48.6M-7.5%	$52.5M+8.8%	$48.3M+37.0%	$35.3M-32.8%	$52.5M+3.6%	$50.6M-63.7%	$139.5M+288.7%	$35.9M
Total Liabilities	$56.0M+11.7%	$50.2M-8.6%	$54.9M+22.0%	$45.0M+22.3%	$36.8M+40.4%	$26.2M-37.7%	$42.0M+34.4%	$31.3M
Current Liabilities	$53.0M+12.4%	$47.2M-8.9%	$51.8M+24.4%	$41.7M+25.6%	$33.2M+27.2%	$26.1M-37.6%	$41.8M+36.0%	$30.7M
Total Equity	$430.6M-10.4%	$480.5M+0.4%	$478.6M+55.6%	$307.5M-10.9%	$345.2M-10.0%	$383.5M-6.2%	$409.0M+105.6%	$198.9M
Retained Earnings	-$713.8M-9.7%	-$650.6M-8.9%	-$597.6M-8.4%	-$551.5M-8.3%	-$509.3M-9.4%	-$465.5M-7.0%	-$435.1M-8.4%	-$401.5M

Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.

OLMA Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

OLMA quarterly cash flow statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$164.7M	-$146.7M-40.6%	-$104.4M-24.6%	-$83.7M-2.0%	-$82.1M-61.9%	-$50.7M-155.2%	-$19.9M-544.8%	-$3.1M
Capital Expenditures	N/A	N/A	$159K	N/A	$363K-77.0%	$1.6M+2712.5%	$56K	N/A
Free Cash Flow	N/A	N/A	-$104.5M	N/A	-$82.4M-57.7%	-$52.3M-162.3%	-$19.9M	N/A
Investing Cash Flow	-$99.5M	-$155.8M-66.5%	-$93.5M-1828.0%	-$4.9M-105.3%	$91.5M+133.2%	-$275.4M-491753.6%	-$56K	N/A
Financing Cash Flow	$260.4M	$211.3M-21.4%	$268.8M+101.5%	$133.4M+27928.4%	$476K-65.8%	$1.4M-99.6%	$358.4M	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	-$45.9M+0.2%	-$46.0M-20.0%	-$38.3M-11.0%	-$34.5M-15.5%	-$29.9M+32.1%	-$44.0M-67.3%	-$26.3M+2.7%	-$27.0M
Capital Expenditures	N/A	N/A	N/A	$0	N/A	N/A	$0	$0
Free Cash Flow	N/A	N/A	N/A	-$34.5M	N/A	N/A	-$26.3M+2.7%	-$27.0M
Investing Cash Flow	$40.8M+801.8%	$4.5M+102.8%	-$162.2M-1038.9%	$17.3M-49.5%	$34.2M+175.9%	-$45.1M+60.6%	-$114.4M-349.2%	$45.9M
Financing Cash Flow	$1.1M-97.6%	$45.7M-78.6%	$213.6M+520758.5%	$41K+101.6%	-$2.5M-1234.2%	$222K-99.9%	$244.3M+265443.5%	$92K

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

OLMA Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

OLMA quarterly financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19
Return on Equity	-34.0%-2.3pp	-31.7%+6.4pp	-38.1%+15.0pp	-53.0%-28.1pp	-25.0%-18.4pp	-6.5%	N/A
Return on Assets	-30.4%-1.7pp	-28.7%+6.2pp	-34.9%+13.7pp	-48.6%-24.6pp	-24.0%-17.6pp	-6.5%	N/A
Current Ratio	9.95-0.5x	10.50-1.8x	12.33-0.3x	12.62-19.6x	32.23-42.4x	74.62	N/A
Debt-to-Equity	0.110.0x	0.100.0x	0.090.0x	0.09+0.1x	0.040.0x	0.01	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Return on Equity	-14.7%-3.6pp	-11.1%	N/A	-13.7%-1.1pp	-12.7%-4.8pp	-7.9%	N/A	-17.4%
Return on Assets	-13.0%-3.0pp	-10.0%	N/A	-12.0%-0.5pp	-11.5%-4.0pp	-7.4%	N/A	-15.0%
Current Ratio	8.86-2.0x	10.88+0.9x	9.95+1.9x	8.03-3.1x	11.09-4.1x	15.22+4.7x	10.50+3.4x	7.10
Debt-to-Equity	0.130.0x	0.100.0x	0.110.0x	0.150.0x	0.110.0x	0.070.0x	0.10-0.1x	0.16

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, FCF Margin.

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Where Olema Pharmaceuticals, Inc. Ranks

Frequently Asked Questions

Is Olema Pharmaceuticals, Inc. profitable?

No, Olema Pharmaceuticals, Inc. (OLMA) reported a net income of -$162.5M in fiscal year 2025.

What is Olema Pharmaceuticals, Inc.'s EBITDA?

Olema Pharmaceuticals, Inc. (OLMA) had EBITDA of -$178.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Olema Pharmaceuticals, Inc.'s return on equity (ROE)?

Olema Pharmaceuticals, Inc. (OLMA) has a return on equity of -34.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Olema Pharmaceuticals, Inc.'s operating cash flow?

Olema Pharmaceuticals, Inc. (OLMA) recorded an outflow of $146.7M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are Olema Pharmaceuticals, Inc.'s total assets?

Olema Pharmaceuticals, Inc. (OLMA) had $533.4M in total assets as of fiscal year 2025, including both current and long-term assets.

How much does Olema Pharmaceuticals, Inc. spend on research and development?

Olema Pharmaceuticals, Inc. (OLMA) invested $157.7M in research and development during fiscal year 2025.

How many shares does Olema Pharmaceuticals, Inc. have outstanding?

Olema Pharmaceuticals, Inc. (OLMA) had 87M shares outstanding as of fiscal year 2025.

What is Olema Pharmaceuticals, Inc.'s current ratio?

Olema Pharmaceuticals, Inc. (OLMA) had a current ratio of 9.95 as of fiscal year 2025, which is generally considered healthy.

What is Olema Pharmaceuticals, Inc.'s debt-to-equity ratio?

Olema Pharmaceuticals, Inc. (OLMA) had a debt-to-equity ratio of 0.11 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Olema Pharmaceuticals, Inc.'s return on assets (ROA)?

Olema Pharmaceuticals, Inc. (OLMA) had a return on assets of -30.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

How does Olema Pharmaceuticals, Inc.'s liquidity compare with its operating cash outflow?

At the end of fiscal year 2025, Olema Pharmaceuticals, Inc. (OLMA) held $505.4M in cash, cash equivalents and investments, and reported an operating cash outflow of $146.7M over that year. Dividing the one by the other, the reported balance equals about 41 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.

What is Olema Pharmaceuticals, Inc.'s Piotroski F-Score?

Olema Pharmaceuticals, Inc. (OLMA) has a Piotroski F-Score of 1 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 Olema Pharmaceuticals, Inc.'s earnings high quality?

Olema Pharmaceuticals, Inc. (OLMA) reported a net loss of $162.5M while operations used $146.7M 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.