Purple Biotech Ltd Financials

PPBT

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Purple Biotech Ltd (PPBT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 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 PPBT FY2025 2026-04-22

Lower cash burn now depends on equity financing as a shrinking asset base supports a business with no reported revenue.

Operating cash burn moved from nearly $20M at its worst to about $5.7M in the latest year, but that improvement did not make the company financially sturdier. Total assets also compressed sharply and the share count expanded severalfold over the same stretch, indicating the lighter burn came with balance-sheet shrinkage and repeated equity funding rather than a transition to self-funded operations.

Funding has come mostly from equity, not lenders: interest expense was just $35K in the latest year even after multiple loss-making periods, while the share count expanded dramatically across the record. That kept fixed financing obligations very light, but it also means cash replenishment appears to have relied on issuing more shares instead of building borrowing capacity.

Reported loss and cash usage diverged in the latest year: net loss was $26.5M but operating cash outflow was only $5.7M. In FY2023 those two figures were nearly aligned, so the latest earnings deterioration looks much more accounting-driven than cash-spend-driven.

Financial Health Signals

Financial Profile 18/100

Based on FY2025 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 Purple Biotech 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

Purple Biotech Ltd carries a low D/E ratio of 0.82, meaning only $0.82 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 85/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Purple Biotech Ltd's current ratio of 1.27 is below the typical benchmark, resulting in a score of 21/100. However, the company holds substantial cash reserves (112% of current liabilities), which buffers actual liquidity risk. Large mature operators often run tight current ratios by design.

Returns

Purple Biotech Ltd generates a -274.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -22.1% the prior year.

Piotroski F-Score Weak

1/9

Purple Biotech Ltd passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality Low Quality

0.21x

For every $1 of reported earnings, Purple Biotech Ltd generates $0.21 in operating cash flow (-$5.7M OCF vs -$26.5M 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

-$26.5M

YoY-264.0%

Purple Biotech Ltd reported -$26.5M in net income in fiscal year 2025. This represents a decrease of 264.0% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

-$5.7M

Purple Biotech Ltd generated -$5.7M in free cash flow in fiscal year 2025, representing cash available after capex.

Cash & Debt

$8.7M

YoY+17.8%

5Y CAGR-5.0%

10Y CAGR-1.9%

Purple Biotech Ltd held $8.7M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

1.86B

Purple Biotech Ltd had 1.86B shares outstanding in fiscal year 2025. This represents an increase of 259.5% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-274.3%

YoY-252.2pp

5Y CAGR-309.5pp

10Y CAGR-318.8pp

Purple Biotech Ltd's ROE was -274.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 252.2 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$3K

5Y CAGR-54.6%

10Y CAGR-10.4%

Purple Biotech Ltd invested $3K in capex in fiscal year 2025, funding long-term assets and infrastructure.

PPBT Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	N/A	N/A	N/A	N/A	N/A	$1.0M
Cost of Revenue	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
R&D Expenses	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
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$35K+52.2%	$23K-37.8%	$37K-24.5%	$49K-24.6%	$65K+58.5%	$41K
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$26.5M-264.0%	-$7.3M+63.6%	-$20.0M+8.2%	-$21.8M-217.8%	$18.5M-34.2%	$28.1M
EPS (Diluted)	N/A	N/A	$0.90-25.0%	$1.20+18.8%	$1.01	N/A

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q2'19
Revenue	N/A	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	N/A
Gross Profit	N/A	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	N/A
SG&A Expenses	N/A	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	N/A
Interest Expense	N/A	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	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

PPBT Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$17.6M-52.6%	$37.0M-16.4%	$44.3M-18.9%	$54.6M-22.2%	$70.2M-16.2%	$83.8M
Current Assets	$9.9M+10.8%	$8.9M-43.6%	$15.8M-52.5%	$33.3M-31.4%	$48.5M-18.2%	$59.3M
Cash & Equivalents	$8.7M+17.8%	$7.4M-48.9%	$14.5M-3.6%	$15.0M+38.0%	$10.9M-3.2%	$11.2M
Inventory	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
Goodwill	N/A	N/A	N/A	$20.7M+1.0%	$20.5M0.0%	$20.5M
Total Liabilities	$7.9M+91.7%	$4.1M-58.8%	$10.0M+33.0%	$7.5M+47.8%	$5.1M+25.7%	$4.1M
Current Liabilities	$7.8M+94.5%	$4.0M-58.9%	$9.7M+37.4%	$7.1M+66.1%	$4.3M+37.2%	$3.1M
Long-Term Debt	N/A	N/A	$163K-49.2%	$321K-41.6%	$550K-20.1%	$688K
Total Equity	$9.7M-70.7%	$32.9M-4.0%	$34.3M-27.2%	$47.1M-27.7%	$65.1M-18.4%	$79.8M
Retained Earnings	-$171.1M-18.2%	-$144.7M-5.3%	-$137.5M-16.9%	-$117.6M-22.6%	-$95.9M-23.7%	-$77.5M

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q2'19
Total Assets	$17.6M-52.6%	$37.0M-16.4%	$44.3M-18.9%	$54.6M-22.2%	$70.2M-16.2%	$83.8M+469.4%	$14.7M-14.4%	$17.2M
Current Assets	$9.9M+10.8%	$8.9M-43.6%	$15.8M-52.5%	$33.3M-31.4%	$48.5M-18.2%	$59.3M+614.1%	$8.3M-22.2%	$10.7M
Cash & Equivalents	$8.7M+17.8%	$7.4M-48.9%	$14.5M-3.6%	$15.0M+38.0%	$10.9M-3.2%	$11.2M+156.5%	$4.4M+59.0%	$2.8M
Inventory	N/A	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	N/A
Goodwill	N/A	N/A	N/A	$20.7M+1.0%	$20.5M0.0%	$20.5M	N/A	N/A
Total Liabilities	$7.9M+91.7%	$4.1M-58.8%	$10.0M+33.0%	$7.5M+47.8%	$5.1M+25.7%	$4.1M+5.0%	$3.9M-32.9%	$5.8M
Current Liabilities	$7.8M+94.5%	$4.0M-58.9%	$9.7M+37.4%	$7.1M+66.1%	$4.3M+37.2%	$3.1M-12.6%	$3.5M-33.9%	$5.4M
Long-Term Debt	N/A	N/A	$163K-49.2%	$321K-41.6%	$550K-20.1%	$688K+2357.1%	$28K	N/A
Total Equity	$9.7M-70.7%	$32.9M-4.0%	$34.3M-27.2%	$47.1M-27.7%	$65.1M-18.4%	$79.8M+634.4%	$10.9M-5.1%	$11.4M
Retained Earnings	-$171.1M-18.2%	-$144.7M-5.3%	-$137.5M-16.9%	-$117.6M-22.6%	-$95.9M-23.7%	-$77.5M-56.5%	-$49.5M-7.1%	-$46.2M

PPBT Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$5.7M+60.6%	-$14.4M+27.9%	-$19.9M-19.1%	-$16.7M-4374.6%	-$374K-121.9%	$1.7M
Capital Expenditures	$3K	N/A	$3K-88.5%	$26K-77.4%	$115K-26.3%	$156K
Free Cash Flow	-$5.7M	N/A	-$19.9M-18.9%	-$16.8M-3327.6%	-$489K-131.6%	$1.5M
Investing Cash Flow	$632K+24.2%	$509K-96.3%	$13.9M-30.3%	$19.9M+48.5%	$13.4M+127.0%	-$49.6M
Financing Cash Flow	$6.3M-6.5%	$6.8M+24.3%	$5.4M+389.1%	$1.1M	N/A	$68.5M
Dividends Paid	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

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q2'19
Operating Cash Flow	N/A	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	N/A
Free Cash Flow	N/A	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	N/A
Financing Cash Flow	N/A	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	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

PPBT Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	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
Net Margin	N/A	N/A	N/A	N/A	N/A	2807.4%
Return on Equity	-274.3%-252.2pp	-22.1%+36.1pp	-58.3%-12.0pp	-46.2%-74.6pp	28.4%-6.8pp	35.2%
Return on Assets	-150.8%-131.1pp	-19.7%+25.4pp	-45.1%-5.3pp	-39.8%-66.1pp	26.3%-7.2pp	33.5%
Current Ratio	1.27-1.0	2.23+0.6	1.63-3.1	4.71-6.7	11.41-7.7	19.14
Debt-to-Equity	0.82+0.7	0.13+0.1	0.000.0	0.010.0	0.010.0	0.01
FCF Margin	N/A	N/A	N/A	N/A	N/A	154.9%

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q2'19
Gross Margin	N/A	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	N/A
Net Margin	N/A	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	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	1.27-1.0	2.23+0.6	1.63-3.1	4.71-6.7	11.41-7.7	19.14+16.8	2.34+0.4	1.99
Debt-to-Equity	0.82+0.7	0.13+0.1	0.000.0	0.010.0	0.010.0	0.010.0	0.00-0.5	0.50
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

Is Purple Biotech Ltd profitable?

No, Purple Biotech Ltd (PPBT) reported a net income of -$26.5M in fiscal year 2025.

What is Purple Biotech Ltd's return on equity (ROE)?

Purple Biotech Ltd (PPBT) has a return on equity of -274.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Purple Biotech Ltd's free cash flow?

Purple Biotech Ltd (PPBT) generated -$5.7M in free cash flow during fiscal year 2025. 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 Purple Biotech Ltd's operating cash flow?

Purple Biotech Ltd (PPBT) generated -$5.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Purple Biotech Ltd's total assets?

Purple Biotech Ltd (PPBT) had $17.6M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Purple Biotech Ltd's capital expenditures?

Purple Biotech Ltd (PPBT) invested $3K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Purple Biotech Ltd have outstanding?

Purple Biotech Ltd (PPBT) had 1.86B shares outstanding as of fiscal year 2025.

What is Purple Biotech Ltd's current ratio?

Purple Biotech Ltd (PPBT) had a current ratio of 1.27 as of fiscal year 2025, which is considered adequate.

What is Purple Biotech Ltd's debt-to-equity ratio?

Purple Biotech Ltd (PPBT) had a debt-to-equity ratio of 0.82 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Purple Biotech Ltd's return on assets (ROA)?

Purple Biotech Ltd (PPBT) had a return on assets of -150.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Purple Biotech Ltd's cash runway?

Based on fiscal year 2025 data, Purple Biotech Ltd (PPBT) had $8.7M in cash against an annual operating cash burn of $5.7M. This gives an estimated cash runway of approximately 18 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 Purple Biotech Ltd's Piotroski F-Score?

Purple Biotech Ltd (PPBT) has a Piotroski F-Score of 1 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 Purple Biotech Ltd's earnings high quality?

Purple Biotech Ltd (PPBT) has an earnings quality ratio of 0.21x, 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 Purple Biotech Ltd?

Purple Biotech Ltd (PPBT) scores 18 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.