Perceptive Cap Financials
This page shows Perceptive Cap (PCSC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
For every $1 of reported earnings, Perceptive Cap generates $-1.03 in operating cash flow (-$865K OCF vs $837K 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
Earnings & Revenue
Perceptive Cap reported $837K in net income in fiscal year 2025.
Cash & Balance Sheet
Perceptive Cap held $865K in cash against $0 in long-term debt as of fiscal year 2025.
Margins & Returns
Capital Allocation
PCSC Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|
| 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 | -$856K-343.2% | -$193K+24.5% | -$256K | N/A | -$196K-84.1% | -$107K |
| 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 | N/A | $145K-80.8% | $755K+11.2% | $679K | N/A | $981K+854.1% | $103K |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
PCSC Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|
| Total Assets | $92.8M+0.6% | $92.2M+0.9% | $91.4M+0.9% | $90.6M+0.8% | $89.9M+1.0% | $89.0M+1.3% | $87.9M |
| Current Assets | $908K-28.1% | $1.3M-13.8% | $1.5M+9.1% | $1.3M+7.9% | $1.2M-9.1% | $1.4M-4.5% | $1.4M |
| Cash & Equivalents | $865K-26.6% | $1.2M-12.4% | $1.3M+12.8% | $1.2M+5.5% | $1.1M-6.6% | $1.2M-6.0% | $1.3M |
| 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 | $97.6M+2.4% | $95.3M+1.8% | $93.7M+0.7% | $93.0M+1.1% | $92.0M+1.2% | $90.9M+1.5% | $89.6M |
| Current Liabilities | $2.3M+141.2% | $935K+232.4% | $281K+5.9% | $266K+26.0% | $211K+31.8% | $160K+464.0% | $28K |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$4.8M-53.7% | -$3.1M-37.8% | -$2.3M+4.5% | -$2.4M-12.1% | -$2.1M-9.1% | -$1.9M-11.2% | -$1.7M |
| Retained Earnings | -$4.8M-53.7% | -$3.1M-37.8% | -$2.3M+4.5% | -$2.4M-12.1% | -$2.1M-9.1% | -$1.9M-11.2% | -$1.7M |
PCSC Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$313K-87.9% | -$167K-12.9% | -$148K+37.9% | -$238K-198.0% | -$80K-2.9% | -$78K+60.5% | -$196K |
| 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 | $0 | $0-100.0% | $300K0.0% | $300K | $0 | $0+100.0% | -$86.3M |
| Financing Cash Flow | $0 | $0 | N/A | N/A | $0 | $0-100.0% | $87.7M |
| 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 |
PCSC Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|
| 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 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | N/A | 0.2%-0.7pp | 0.8%+0.1pp | 0.8% | N/A | 1.1%+1.0pp | 0.1% |
| Current Ratio | 0.40-0.9 | 1.35-3.9 | 5.21+0.2 | 5.06-0.8 | 5.90-2.7 | 8.56-42.0 | 50.57 |
| Debt-to-Equity | -20.34+10.2 | -30.54+10.8 | -41.35-2.1 | -39.21+4.3 | -43.48+3.4 | -46.88+4.5 | -51.40 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Note: Shareholder equity is negative (-$4.8M), 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 (0.40), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
Is Perceptive Cap profitable?
Yes, Perceptive Cap (PCSC) reported a net income of $837K in fiscal year 2025.
What is Perceptive Cap's operating cash flow?
Perceptive Cap (PCSC) generated -$865K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Perceptive Cap's total assets?
Perceptive Cap (PCSC) had $92.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Perceptive Cap's current ratio?
Perceptive Cap (PCSC) had a current ratio of 0.40 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Perceptive Cap's debt-to-equity ratio?
Perceptive Cap (PCSC) had a debt-to-equity ratio of -20.34 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Perceptive Cap's return on assets (ROA)?
Perceptive Cap (PCSC) had a return on assets of 0.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Perceptive Cap's cash runway?
Based on fiscal year 2025 data, Perceptive Cap (PCSC) had $865K in cash against an annual operating cash burn of $865K. This gives an estimated cash runway of approximately 12 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 Perceptive Cap's debt-to-equity ratio negative or unusual?
Perceptive Cap (PCSC) has negative shareholder equity of -$4.8M as of fiscal year 2025, 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.
Are Perceptive Cap's earnings high quality?
Perceptive Cap (PCSC) has an earnings quality ratio of -1.03x, 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.