What is Processa Pharmaceuticals Inc's earnings per share (EPS)?

Processa Pharmaceuticals Inc (PCSA) reported diluted earnings per share of -$10.36 for fiscal year 2025. 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.

Processa Pharmaceuticals Inc Financials

PCSA

FY2025 annual

Revenue Not reported for FY2025

Net Income $13.6M +214.5% YoY

EPS (Diluted) -$10.36 YoY not available

Free Cash Flow Not reported for FY2025

Source SEC Filings (10-K/10-Q) Data as of Jun 30, 2026 Currency USD FYE December

This page shows Processa Pharmaceuticals Inc (PCSA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 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 PCSA FY2025 2026-08-14

External financing rather than operations is funding development-stage spending, while reported profit and cash use point in opposite directions.

FY2025's reported profit of $13.6M did not mark a self-funding turn, because operating cash flow was still -$11.4M and EBITDA remained deeply negative. Across FY2024 and FY2025, cash consumption barely changed even though net income flipped sign, which points to a non-operating or non-cash accounting effect rather than a change in the operating engine.

The liquidity rebound was financing-led: cash climbed to $5.5M and the current ratio improved to 2.5x, but that came alongside financing inflow of $16.6M. That matters because the stronger cushion reflects fresh capital arriving, not a lower operating burn rate.

This is still a development-stage cost structure, with R&D of $7.8M slightly above SG&A at $6.2M in FY2025. Because there is no commercial revenue base in the valid data, these expenses are not being absorbed by sales; they translate directly into cash runway needs.

Financial Health Signals

Financial health score not available

Processa 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

3/6

Processa Pharmaceuticals Inc passes 3 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.

Earnings Quality No Cash Backing

$0.84used

For every $1 of reported earnings, Processa Pharmaceuticals Inc used $0.84 of operating cash (-$11.4M OCF vs $13.6M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.

Key Financial Metrics

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Earnings & Revenue

EBITDA

-$14.0M

YoY-16.1%

Processa Pharmaceuticals Inc's EBITDA was -$14.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 16.1% from the prior year.

Net Income

$13.6M

YoY+214.5%

Processa Pharmaceuticals Inc reported $13.6M in net income in fiscal year 2025. This represents an increase of 214.5% from the prior year.

EPS (Diluted)

-$10.36

Processa Pharmaceuticals Inc earned -$10.36 per diluted share (EPS) in fiscal year 2025.

Revenue

Not reported for fiscal year 2025.

Cash & Balance Sheet

Cash & Debt

$5.5M

YoY+364.8%

5Y CAGR-18.5%

10Y CAGR+119.9%

Processa Pharmaceuticals Inc held $5.5M in cash as of fiscal year 2025; long-term debt is not reported for that period.

Shares Outstanding

Processa Pharmaceuticals Inc had 3M shares outstanding in fiscal year 2025.

Free Cash Flow

Not reported for fiscal year 2025.

Dividends Per Share

Not reported for fiscal year 2025.

Margins & Returns

Return on Equity

243.2%

YoY+941.8pp

5Y CAGR+306.0pp

Processa Pharmaceuticals Inc's ROE was 243.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 941.8 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

$7.8M

YoY+7.4%

5Y CAGR+19.7%

10Y CAGR+74.8%

Processa Pharmaceuticals Inc invested $7.8M in research and development in fiscal year 2025. This represents an increase of 7.4% from the prior year.

Share Buybacks

Not reported for fiscal year 2025.

Capital Expenditures

Not reported for fiscal year 2025.

PCSA Income Statement

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

PCSA annual income statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12
Revenue	N/A	N/A	N/A	N/A	$0	$0	N/A	N/A	N/A	N/A	$5K-95.6%	$113K+5.8%	$107K-65.7%	$312K+62.6%	$192K
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$126K+88.3%	$67K-64.5%	$188K+41.1%	$133K
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$5K+140.2%	-$12K-130.8%	$40K-67.5%	$124K+111.4%	$59K
R&D Expenses	N/A	$7.8M+7.4%	$7.3M+25.3%	$5.8M-49.5%	$11.5M+67.1%	$6.9M+116.8%	$3.2M+36.7%	$2.3M-24.8%	$3.1M+220.0%	$964K-37.3%	$1.5M+5155.4%	$29K-83.6%	$178K-33.3%	$267K-40.4%	$448K
SG&A Expenses	N/A	$6.2M+29.2%	$4.8M-15.5%	$5.7M-35.4%	$8.8M+86.9%	$4.7M+43.6%	$3.3M+102.1%	$1.6M+12.2%	$1.4M+71.7%	$838K+1098.1%	$70K	N/A	$2.0M-28.3%	$2.8M+49.6%	$1.9M
Operating Income	N/A	-$14.0M-16.1%	-$12.1M-5.2%	-$11.5M+58.4%	-$27.5M-126.9%	-$12.1M+19.8%	-$15.1M-284.6%	-$3.9M+13.0%	-$4.5M-151.0%	-$1.8M+6.2%	-$1.9M	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	$362-99.9%	$281K+666.9%	$37K-77.3%	$161K+172.9%	$59K-75.9%	$245K+4.1%	$236K-25.3%	$315K+387.4%	-$110K+35.7%	-$171K
Income Tax	N/A	N/A	N/A	N/A	N/A	-$531K+47.0%	-$1.0M-66.1%	-$603K+33.2%	-$903K-449.1%	$259K	N/A	-$1000.0%	-$100-100.0%	-$50+72.4%	-$181
Net Income	N/A	$13.6M+214.5%	-$11.8M-6.5%	-$11.1M+59.4%	-$27.4M-140.0%	-$11.4M+20.7%	-$14.4M-329.3%	-$3.4M+10.8%	-$3.8M-102.8%	-$1.9M+3.2%	-$1.9M	N/A	-$4.5M-47.5%	-$3.1M-25.7%	-$2.4M
EPS (Diluted)	—	-$10.36	-$96.78	-$8.48	-$34.05	N/A	N/A	N/A	N/A	-$0.06	-$0.07	N/A	N/A	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
R&D Expenses	$650K-64.1%	$1.8M	N/A	$1.7M-32.1%	$2.4M+54.1%	$1.6M	N/A	$2.3M
SG&A Expenses	$1.7M+10.8%	$1.5M	N/A	$1.8M+21.5%	$1.5M+19.5%	$1.3M	N/A	$1.1M
Operating Income	-$2.3M+29.9%	-$3.3M	N/A	-$3.5M+11.7%	-$4.0M-38.8%	-$2.8M	N/A	-$3.4M
Net Income	-$3.3M+3.3%	-$3.4M	N/A	-$3.4M+12.6%	-$3.9M-38.8%	-$2.8M	N/A	-$3.4M
EPS (Diluted)	-$1.19+7.8%	-$1.29	N/A	-$0.07	-$0.25	-$7.58	N/A	-$1.03

TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.

PCSA Balance Sheet

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

PCSA annual balance sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12
Total Assets	$7.8M+142.0%	$3.2M-44.2%	$5.8M-32.9%	$8.6M-67.4%	$26.5M+5.0%	$25.2M+131.7%	$10.9M-12.8%	$12.5M+318.4%	$3.0M+26.1%	$2.4M+2167.0%	$104K-95.9%	$2.5M-13.3%	$2.9M-24.4%	$3.9M
Current Assets	$5.7M+201.8%	$1.9M-66.6%	$5.6M-32.8%	$8.4M-54.2%	$18.3M+13.1%	$16.2M+1508.8%	$1.0M-50.2%	$2.0M-31.5%	$3.0M+26.3%	$2.3M+2143.6%	$104K-72.8%	$383K-25.6%	$515K-55.5%	$1.2M
Cash & Equivalents	$5.5M+364.8%	$1.2M-74.7%	$4.7M-27.6%	$6.5M-60.6%	$16.5M+7.0%	$15.4M+2129.3%	$692K-60.3%	$1.7M-38.9%	$2.8M+165.6%	$1.1M+51186.8%	$2K-90.2%	$21K-88.6%	$187K-81.7%	$1.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$219K-4.0%	$228K+368.2%	$49K
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$1K-93.2%	$19K-36.9%	$30K
Total Liabilities	$2.2M+45.9%	$1.5M+92.2%	$797K-30.6%	$1.1M+17.4%	$978K-57.0%	$2.3M-20.8%	$2.9M+3.3%	$2.8M+6.5%	$2.6M-43.7%	$4.6M+2337.6%	$190K-85.8%	$1.3M+5.6%	$1.3M-4.1%	$1.3M
Current Liabilities	$2.2M+45.9%	$1.5M+109.8%	$731K-26.8%	$999K+2.8%	$971K-20.5%	$1.2M+2.5%	$1.2M+84.5%	$646K-75.2%	$2.6M+2561.2%	$98K	N/A	$844K-24.8%	$1.1M+56.7%	$716K
Total Equity	$5.6M+228.8%	$1.7M-66.0%	$5.0M-33.2%	$7.5M-70.7%	$25.5M+11.1%	$22.9M+186.3%	$8.0M-17.4%	$9.7M+2499.7%	$373K+116.5%	-$2.3M-2545.4%	-$86K-107.1%	$1.2M-27.7%	$1.7M-34.8%	$2.6M
Retained Earnings	-$100.8M-15.6%	-$87.2M-15.7%	-$75.4M-17.3%	-$64.2M-74.5%	-$36.8M-45.0%	-$25.4M-131.2%	-$11.0M-44.0%	-$7.6M-97.6%	-$3.9M-92.7%	-$2.0M+86.5%	-$14.9M-25.5%	-$11.8M-73.9%	-$6.8M	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$2.1M-54.2%	$4.5M-42.1%	$7.8M+3.0%	$7.6M-7.3%	$8.2M+70.1%	$4.8M+48.9%	$3.2M-34.7%	$4.9M
Current Assets	$2.1M+6.6%	$1.9M-65.8%	$5.7M-13.9%	$6.6M-7.9%	$7.2M+90.4%	$3.8M+100.0%	$1.9M-61.2%	$4.8M
Cash & Equivalents	$196K-88.4%	$1.7M-69.5%	$5.5M-12.2%	$6.3M-9.1%	$6.9M+139.4%	$2.9M+143.2%	$1.2M-58.8%	$2.9M
Total Liabilities	$2.4M+20.5%	$2.0M-11.5%	$2.2M+27.7%	$1.8M-15.6%	$2.1M+61.7%	$1.3M-16.3%	$1.5M+25.5%	$1.2M
Current Liabilities	$2.4M+20.5%	$2.0M-11.5%	$2.2M+27.7%	$1.8M-15.6%	$2.1M+61.7%	$1.3M-16.3%	$1.5M+25.7%	$1.2M
Total Equity	-$317K-112.5%	$2.5M-54.4%	$5.6M-4.4%	$5.8M-4.5%	$6.1M+73.2%	$3.5M+107.9%	$1.7M-54.4%	$3.7M
Retained Earnings	-$107.4M-3.1%	-$104.2M-3.4%	-$100.8M-3.4%	-$97.4M-3.7%	-$94.0M-4.4%	-$90.1M-3.2%	-$87.2M-3.2%	-$84.5M

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

PCSA Cash Flow Statement

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

PCSA annual cash flow statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12
Operating Cash Flow	-$12.0M	-$11.4M-1.2%	-$11.2M-39.5%	-$8.1M+16.1%	-$9.6M-10.2%	-$8.7M-177.3%	-$3.1M-14.3%	-$2.8M+25.8%	-$3.7M-124.1%	-$1.7M+23.2%	-$2.2M	N/A	-$2.7M-6.0%	-$2.5M-34.1%	-$1.9M
Capital Expenditures	N/A	N/A	$3K+16.9%	$3K	N/A	N/A	N/A	N/A	N/A	$21K-13.3%	$24K+1599.4%	$1K-87.3%	$11K-60.2%	$28K-91.7%	$334K
Free Cash Flow	N/A	N/A	-$11.2M-39.5%	-$8.1M	N/A	N/A	N/A	N/A	N/A	-$1.7M+23.1%	-$2.2M	N/A	-$2.7M-5.3%	-$2.6M-15.3%	-$2.2M
Investing Cash Flow	N/A	-$850K-26102.2%	-$3K-16.9%	-$3K	N/A	N/A	N/A	N/A	-$22K-102.2%	$1.0M+196.3%	-$1.0M-2694.4%	$40K+189.5%	-$45K-62.4%	-$28K+91.7%	-$334K
Financing Cash Flow	$6.4M	$16.6M+114.4%	$7.7M+23.4%	$6.3M+1712.1%	-$389K-104.0%	$9.8M-45.2%	$17.9M+950.6%	$1.7M-35.2%	$2.6M+8.2%	$2.4M-43.2%	$4.3M	N/A	$2.6M+48.7%	$1.7M+282.0%	$453K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$43K-5.8%	$46K	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	$300K	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	-$2.0M+44.4%	-$3.6M-23.8%	-$2.9M+16.8%	-$3.5M-53.5%	-$2.3M+16.8%	-$2.7M-21.4%	-$2.2M+37.6%	-$3.6M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	$0	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	-$2.2M	N/A
Investing Cash Flow	$186K+137.2%	-$500K	N/A	N/A	N/A	N/A	$0	N/A
Financing Cash Flow	$315K+28.8%	$245K-91.8%	$3.0M+4.3%	$2.9M-54.7%	$6.3M+42.3%	$4.4M+710.0%	$548K-40.9%	$926K

PCSA Financial Ratios

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

PCSA annual financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	100.0%+111.0pp	-11.0%-48.7pp	37.7%-2.2pp	39.8%+9.2pp	30.6%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-38430.4%	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	N/A	-38341.3%	N/A	-4220.7%	-982.0%	-1270.1%
Return on Equity	243.2%+941.8pp	-698.6%-475.7pp	-222.9%+144.2pp	-367.1%-322.3pp	-44.8%+18.0pp	-62.8%-20.9pp	-41.9%-3.1pp	-38.8%+458.6pp	-497.4%	N/A	N/A	-374.7%-191.1pp	-183.7%-88.4pp	-95.3%
Return on Assets	173.6%+540.5pp	-367.0%-174.8pp	-192.2%+126.0pp	-318.2%-275.0pp	-43.2%+14.0pp	-57.2%-26.3pp	-30.9%-0.7pp	-30.2%+32.1pp	-62.2%+18.8pp	-81.1%	N/A	-177.8%-73.3pp	-104.5%-41.6pp	-62.8%
Current Ratio	2.54+1.3x	1.23-6.5x	7.71-0.7x	8.40-10.5x	18.87+5.6x	13.27+12.4x	0.85-2.3x	3.13+2.0x	1.14-22.8x	23.92	N/A	0.450.0x	0.46-1.2x	1.62
Debt-to-Equity	0.40-0.5x	0.90+0.7x	0.160.0x	0.15+0.1x	0.04-0.1x	0.10-0.3x	0.36+0.1x	0.29-6.7x	6.99	N/A	N/A	1.11+0.3x	0.76+0.2x	0.52
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-43576.2%	N/A	-2520.2%	-821.3%	-1158.9%

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Return on Equity	N/A	-132.9%	N/A	-58.9%+5.5pp	-64.4%+16.0pp	-80.4%	N/A	-91.0%
Return on Assets	-157.8%-83.1pp	-74.7%	N/A	-45.3%+2.8pp	-48.1%+10.9pp	-58.9%	N/A	-68.5%
Current Ratio	0.87-0.1x	0.98-1.6x	2.54-1.2x	3.76+0.3x	3.45+0.5x	2.93+1.7x	1.23-2.7x	3.97
Debt-to-Equity	N/A	0.78+0.4x	0.40+0.1x	0.300.0x	0.340.0x	0.36-0.5x	0.90+0.6x	0.33

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.

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Where Processa Pharmaceuticals Inc Ranks

Frequently Asked Questions

Is Processa Pharmaceuticals Inc profitable?

Yes, Processa Pharmaceuticals Inc (PCSA) reported a net income of $13.6M in fiscal year 2025.

What is Processa Pharmaceuticals Inc's EBITDA?

Processa Pharmaceuticals Inc (PCSA) had EBITDA of -$14.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Processa Pharmaceuticals Inc's return on equity (ROE)?

Processa Pharmaceuticals Inc (PCSA) has a return on equity of 243.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Processa Pharmaceuticals Inc's operating cash flow?

Processa Pharmaceuticals Inc (PCSA) recorded an outflow of $11.4M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are Processa Pharmaceuticals Inc's total assets?

Processa Pharmaceuticals Inc (PCSA) had $7.8M in total assets as of fiscal year 2025, including both current and long-term assets.

How much does Processa Pharmaceuticals Inc spend on research and development?

Processa Pharmaceuticals Inc (PCSA) invested $7.8M in research and development during fiscal year 2025.

How many shares does Processa Pharmaceuticals Inc have outstanding?

Processa Pharmaceuticals Inc (PCSA) had 3M shares outstanding as of fiscal year 2025.

What is Processa Pharmaceuticals Inc's current ratio?

Processa Pharmaceuticals Inc (PCSA) had a current ratio of 2.54 as of fiscal year 2025, which is generally considered healthy.

What is Processa Pharmaceuticals Inc's debt-to-equity ratio?

Processa Pharmaceuticals Inc (PCSA) had a debt-to-equity ratio of 0.40 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Processa Pharmaceuticals Inc's return on assets (ROA)?

Processa Pharmaceuticals Inc (PCSA) had a return on assets of 173.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Processa Pharmaceuticals Inc's cash runway?

Based on fiscal year 2025 data, Processa Pharmaceuticals Inc (PCSA) had $5.5M in cash against an annual operating cash burn of $11.4M. This gives an estimated cash runway of approximately 6 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 Processa Pharmaceuticals Inc's Piotroski F-Score?

Processa Pharmaceuticals Inc (PCSA) has a Piotroski F-Score of 3 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 Processa Pharmaceuticals Inc's earnings high quality?

For every $1 of reported earnings, Processa Pharmaceuticals Inc (PCSA) used $0.84 of operating cash (-$11.4M OCF vs $13.6M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. 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.