Psyence Biomedical Ltd. Financials

PBM

Source SEC Filings (10-K/10-Q) Updated Jun 22, 2026 Currency USD FYE June

This page shows Psyence Biomedical Ltd. (PBM) 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).

Rhea AI PBM FY2026 2026-06-22

Psyence Biomedical’s reported history shows a capital-funded balance-sheet reset, with fresh financing repeatedly offsetting operating cash burn.

From FY2024 to FY2026, equity flipped from negative to strongly positive and long-term debt disappeared, but that cleaner balance sheet was financed by $23.1M of cash raised across FY2025-FY2026 while operations consumed $11.9M. In other words, the stronger FY2026 balance sheet does not show self-funding; it shows outside capital rebuilding the company faster than operating losses depleted cash.

The brief FY2025 profit of $1.0M did not translate into liquidity, because operating cash flow was -$3.7M. FY2026 then paired a -$6.9M net loss with -$8.1M of operating cash burn, so earnings and cash are not telling the same story and the income line alone would overstate how financially settled the business is.

Total liabilities shrank from $12.1M in FY2024 to $623K in FY2026. Assets still expanded to $17.6M, and FY2026 capex was only $229, which suggests the company’s cash needs are operating- and funding-driven rather than the result of maintaining a heavy physical asset base or servicing a large debt load.

Financial Health Signals

Financial Profile 17/100

Based on FY2026 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Psyence Biomedical Ltd.'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.

Leverage

100

Psyence Biomedical Ltd. carries a low D/E ratio of 0.04, meaning only $0.04 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Returns

Psyence Biomedical Ltd. generates a -40.9% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from 15.0% the prior year.

Piotroski F-Score Weak

0/9

Psyence Biomedical Ltd. passes 0 of 9 financial strength tests. No profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality Low Quality

1.17x

For every $1 of reported earnings, Psyence Biomedical Ltd. generates $1.17 in operating cash flow (-$8.1M OCF vs -$6.9M 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

N/A

EBITDA

N/A

Net Income

-$6.9M

YoY-785.6%

Psyence Biomedical Ltd. reported -$6.9M in net income in fiscal year 2026. This represents a decrease of 785.6% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

-$8.1M

YoY-117.5%

Psyence Biomedical Ltd. generated -$8.1M in free cash flow in fiscal year 2026, representing cash available after capex. This represents a decrease of 117.5% from the prior year.

Cash & Debt

$7.4M

YoY+21.3%

Psyence Biomedical Ltd. held $7.4M in cash against $0 in long-term debt as of fiscal year 2026.

Dividends Per Share

N/A

Shares Outstanding

Psyence Biomedical Ltd. had 2M shares outstanding in fiscal year 2026. This represents an increase of 303.7% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-40.9%

YoY-56.0pp

Psyence Biomedical Ltd.'s ROE was -40.9% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is down 56.0 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$229

YoY-97.7%

Psyence Biomedical Ltd. invested $229 in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents a decrease of 97.7% from the prior year.

PBM Income Statement

Metric	FY26	FY25	FY24	FY23
Revenue	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A
Net Income	-$6.9M-785.6%	$1.0M	N/A	-$3.2M
EPS (Diluted)	N/A	N/A	N/A	N/A

Metric	Q1'26	Q3'25	Q1'25	Q3'24	Q1'24	Q3'23	Q3'22
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	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
Net Income	-$753K	N/A	$141K	N/A	-$310K	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A

PBM Balance Sheet

Metric	FY26	FY25	FY24	FY23
Total Assets	$17.6M+140.1%	$7.3M+546.2%	$1.1M-28.8%	$1.6M
Current Assets	$9.1M+38.9%	$6.6M+482.3%	$1.1M-29.2%	$1.6M
Cash & Equivalents	$7.4M+21.3%	$6.1M+736.8%	$733K-45.0%	$1.3M
Inventory	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A
Total Liabilities	$623K+4.8%	$594K-95.1%	$12.1M+576.0%	$1.8M
Current Liabilities	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	$10.4M	N/A
Total Equity	$16.9M+152.1%	$6.7M+161.3%	-$11.0M-5374.1%	-$200K
Retained Earnings	-$63.4M-12.3%	-$56.4M+1.8%	-$57.5M-812.1%	-$6.3M

Metric	Q1'26	Q3'25	Q1'25	Q3'24	Q1'24	Q3'23	Q3'22
Total Assets	$12.8M+75.1%	$7.3M+224.7%	$2.3M+99.0%	$1.1M	N/A	$1.6M-13.1%	$1.8M
Current Assets	$7.6M+16.3%	$6.6M+192.4%	$2.2M+99.1%	$1.1M	N/A	$1.6M-13.1%	$1.8M
Cash & Equivalents	$7.1M+16.5%	$6.1M+217.5%	$1.9M+163.6%	$733K+21.1%	$605K-54.6%	$1.3M-23.9%	$1.8M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$943K+58.7%	$594K-83.1%	$3.5M-71.0%	$12.1M	N/A	$1.8M+1260.3%	$132K
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	$10.4M	N/A	N/A	N/A
Total Equity	$11.9M+76.5%	$6.7M+635.6%	-$1.3M+88.6%	-$11.0M-1016.6%	-$983K-390.2%	-$200K-111.8%	$1.7M
Retained Earnings	-$58.4M-3.5%	-$56.4M-3.6%	-$54.5M+5.2%	-$57.5M	N/A	-$6.3M-103.6%	-$3.1M

PBM Cash Flow Statement

Metric	FY26	FY25	FY24	FY23
Operating Cash Flow	-$8.1M-118.1%	-$3.7M-26.8%	-$2.9M-85.0%	-$1.6M
Capital Expenditures	$229-97.7%	$10K+72.5%	$6K	N/A
Free Cash Flow	-$8.1M-117.5%	-$3.7M-26.9%	-$3.0M	N/A
Investing Cash Flow	-$4.5M-27697.0%	-$16K-183.4%	-$6K	N/A
Financing Cash Flow	$14.0M+52.6%	$9.2M+289.5%	$2.4M+100.4%	$1.2M
Dividends Paid	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A

Metric	Q1'26	Q3'25	Q1'25	Q3'24	Q1'24	Q3'23	Q3'22
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	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
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	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

PBM Financial Ratios

Metric	FY26	FY25	FY24	FY23
Gross Margin	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A
Return on Equity	-40.9%-56.0pp	15.0%	N/A	N/A
Return on Assets	-39.5%-53.3pp	13.8%	N/A	-201.6%
Current Ratio	N/A	N/A	N/A	N/A
Debt-to-Equity	0.04-0.1	0.09+1.0	-0.95+8.0	-8.93
FCF Margin	N/A	N/A	N/A	N/A

Metric	Q1'26	Q3'25	Q1'25	Q3'24	Q1'24	Q3'23	Q3'22
Gross Margin	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
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	-6.3%	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-5.9%	N/A	6.3%	N/A	N/A	N/A	N/A
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.080.0	0.09+2.9	-2.80-1.8	-0.95	N/A	-8.93-9.0	0.08
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

Is Psyence Biomedical Ltd. profitable?

No, Psyence Biomedical Ltd. (PBM) reported a net income of -$6.9M in fiscal year 2026.

What is Psyence Biomedical Ltd.'s return on equity (ROE)?

Psyence Biomedical Ltd. (PBM) has a return on equity of -40.9% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.

What is Psyence Biomedical Ltd.'s free cash flow?

Psyence Biomedical Ltd. (PBM) generated -$8.1M in free cash flow during fiscal year 2026. This represents a -117.5% 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 Psyence Biomedical Ltd.'s operating cash flow?

Psyence Biomedical Ltd. (PBM) generated -$8.1M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.

What are Psyence Biomedical Ltd.'s total assets?

Psyence Biomedical Ltd. (PBM) had $17.6M in total assets as of fiscal year 2026, including both current and long-term assets.

What are Psyence Biomedical Ltd.'s capital expenditures?

Psyence Biomedical Ltd. (PBM) invested $229 in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.

How many shares does Psyence Biomedical Ltd. have outstanding?

Psyence Biomedical Ltd. (PBM) had 2M shares outstanding as of fiscal year 2026.

What is Psyence Biomedical Ltd.'s debt-to-equity ratio?

Psyence Biomedical Ltd. (PBM) had a debt-to-equity ratio of 0.04 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Psyence Biomedical Ltd.'s return on assets (ROA)?

Psyence Biomedical Ltd. (PBM) had a return on assets of -39.5% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.

What is Psyence Biomedical Ltd.'s cash runway?

Based on fiscal year 2026 data, Psyence Biomedical Ltd. (PBM) had $7.4M in cash against an annual operating cash burn of $8.1M. This gives an estimated cash runway of approximately 11 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 Psyence Biomedical Ltd.'s Piotroski F-Score?

Psyence Biomedical Ltd. (PBM) has a Piotroski F-Score of 0 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Psyence Biomedical Ltd.'s earnings high quality?

Psyence Biomedical Ltd. (PBM) has an earnings quality ratio of 1.17x, 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 Psyence Biomedical Ltd.?

Psyence Biomedical Ltd. (PBM) scores 17 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.