Praxis Precision Medicines, Inc. Financials
This page shows Praxis Precision Medicines, Inc. (PRAX) 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).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Praxis Precision Medicines, Inc.'s revenue declined 100% year-over-year, from $8.6M to $0. This contraction results in a growth score of 0/100.
Praxis Precision Medicines, Inc. carries a low D/E ratio of 0.07, meaning only $0.07 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.
With a current ratio of 10.22, Praxis Precision Medicines, Inc. holds $10.22 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
Praxis Precision Medicines, Inc. generates a -34.5% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -41.0% the prior year.
Praxis Precision Medicines, Inc. passes 2 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
For every $1 of reported earnings, Praxis Precision Medicines, Inc. generates $0.82 in operating cash flow (-$249.1M OCF vs -$303.3M 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
Praxis Precision Medicines, Inc. generated $0 in revenue in fiscal year 2025. This represents a decrease of 100.0% from the prior year.
Praxis Precision Medicines, Inc.'s EBITDA was -$326.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 63.2% from the prior year.
Praxis Precision Medicines, Inc. reported -$303.3M in net income in fiscal year 2025. This represents a decrease of 65.9% from the prior year.
Praxis Precision Medicines, Inc. earned $-13.48 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 32.0% from the prior year.
Cash & Balance Sheet
Praxis Precision Medicines, Inc. generated -$249.1M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 89.1% from the prior year.
Praxis Precision Medicines, Inc. held $357.3M in cash against $0 in long-term debt as of fiscal year 2025.
Praxis Precision Medicines, Inc. had 25M shares outstanding in fiscal year 2025. This represents an increase of 29.7% from the prior year.
Margins & Returns
Praxis Precision Medicines, Inc.'s ROE was -34.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 6.5 percentage points from the prior year.
Capital Allocation
Praxis Precision Medicines, Inc. invested $267.1M in research and development in fiscal year 2025. This represents an increase of 75.3% from the prior year.
Praxis Precision Medicines, Inc. invested $56K in capex in fiscal year 2025, funding long-term assets and infrastructure.
PRAX Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | $0 | $0 | $0-100.0% | $7.5M+2371.2% | $302K-15.4% | $357K-17.2% | $431K |
| 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 | $65.8M+4.4% | $63.0M+3.6% | $60.8M+8.0% | $56.3M+34.4% | $41.9M+53.6% | $27.3M+1.0% | $27.0M |
| SG&A Expenses | N/A | $12.6M-3.8% | $13.1M-6.2% | $13.9M-8.0% | $15.1M-0.8% | $15.3M+44.1% | $10.6M-31.0% | $15.3M |
| Operating Income | N/A | -$78.4M-3.0% | -$76.1M-1.8% | -$74.7M-16.8% | -$64.0M-12.5% | -$56.8M-51.6% | -$37.5M+10.5% | -$41.9M |
| 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 | -$73.9M-3.9% | -$71.1M-2.6% | -$69.3M-18.1% | -$58.7M-13.0% | -$51.9M-58.9% | -$32.7M+17.4% | -$39.6M |
| EPS (Diluted) | N/A | $-3.36-1.5% | $-3.31-0.6% | $-3.29 | N/A | $-2.75-58.0% | $-1.74+38.7% | $-2.84 |
PRAX Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $937.9M+136.6% | $396.4M-12.5% | $452.8M-5.4% | $478.7M-0.9% | $483.1M+16.1% | $416.3M-5.6% | $441.1M+76.1% | $250.4M |
| Current Assets | $610.9M+123.1% | $273.8M-10.7% | $306.6M-8.1% | $333.6M-17.5% | $404.4M+12.3% | $360.0M+0.9% | $356.7M+68.4% | $211.8M |
| Cash & Equivalents | $357.3M+139.0% | $149.5M-5.0% | $157.4M-4.9% | $165.6M-23.1% | $215.4M+27.7% | $168.6M+16.2% | $145.1M-4.5% | $152.0M |
| 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 | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $59.8M+13.0% | $52.9M+8.8% | $48.6M+23.0% | $39.5M+4.9% | $37.7M+12.1% | $33.6M+52.9% | $22.0M+6.0% | $20.7M |
| Current Liabilities | $59.8M+13.0% | $52.9M+8.8% | $48.6M+23.0% | $39.5M+5.3% | $37.5M+14.3% | $32.9M+59.4% | $20.6M+9.7% | $18.8M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $878.1M+155.6% | $343.5M-15.0% | $404.2M-8.0% | $439.2M-1.4% | $445.4M+16.4% | $382.7M-8.7% | $419.1M+82.5% | $229.7M |
| Retained Earnings | -$1.1B-8.5% | -$1.1B-7.6% | -$977.2M-7.9% | -$906.0M-8.3% | -$836.7M-7.5% | -$778.1M-7.1% | -$726.2M-4.7% | -$693.5M |
PRAX Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$76.3M-17.3% | -$65.1M-19.0% | -$54.7M-3.1% | -$53.0M+5.5% | -$56.1M-104.1% | -$27.5M-0.8% | -$27.3M-30.8% | -$20.9M |
| Capital Expenditures | $0 | $0 | N/A | N/A | $0 | $0 | N/A | N/A |
| Free Cash Flow | -$76.3M-17.3% | -$65.1M | N/A | N/A | -$56.1M-104.1% | -$27.5M | N/A | N/A |
| Investing Cash Flow | -$328.4M-751.4% | $50.4M+181.7% | $17.9M+135.0% | -$51.1M-367.7% | -$10.9M-122.0% | $49.6M+125.3% | -$195.9M-114.8% | -$91.2M |
| Financing Cash Flow | $612.5M+8966.3% | $6.8M-76.4% | $28.6M-47.2% | $54.3M-52.3% | $113.8M+7822.5% | $1.4M-99.3% | $216.4M+18.4% | $182.8M |
| 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 |
PRAX Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| 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 | -857.0%+17962.6pp | -18819.5%-8318.7pp | -10500.8%-782.5pp | -9718.3% |
| Net Margin | N/A | N/A | N/A | N/A | -786.3%+16402.5pp | -17188.7%-8035.5pp | -9153.2%+23.8pp | -9177.0% |
| Return on Equity | N/A | -21.5%-3.9pp | -17.6%-1.8pp | -15.8%-2.6pp | -13.2%+0.4pp | -13.6%-5.8pp | -7.8%+9.4pp | -17.2% |
| Return on Assets | N/A | -18.6%-2.9pp | -15.7%-1.2pp | -14.5%-2.3pp | -12.2%+0.3pp | -12.5%-5.1pp | -7.4%+8.4pp | -15.8% |
| Current Ratio | 10.22+5.0 | 5.18-1.1 | 6.31-2.1 | 8.44-2.3 | 10.77-0.2 | 10.96-6.3 | 17.30+6.0 | 11.27 |
| Debt-to-Equity | 0.07-0.1 | 0.15+0.0 | 0.12+0.0 | 0.090.0 | 0.080.0 | 0.09+0.0 | 0.05-0.0 | 0.09 |
| FCF Margin | N/A | N/A | N/A | N/A | -752.0%+8354.0pp | -9106.0% | N/A | N/A |
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Frequently Asked Questions
What is Praxis Precision Medicines, Inc.'s annual revenue?
Praxis Precision Medicines, Inc. (PRAX) reported $0 in total revenue for fiscal year 2025. This represents a -100.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Praxis Precision Medicines, Inc.'s revenue growing?
Praxis Precision Medicines, Inc. (PRAX) revenue declined by 100% year-over-year, from $8.6M to $0 in fiscal year 2025.
Is Praxis Precision Medicines, Inc. profitable?
No, Praxis Precision Medicines, Inc. (PRAX) reported a net income of -$303.3M in fiscal year 2025.
What is Praxis Precision Medicines, Inc.'s EBITDA?
Praxis Precision Medicines, Inc. (PRAX) had EBITDA of -$326.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Praxis Precision Medicines, Inc.'s return on equity (ROE)?
Praxis Precision Medicines, Inc. (PRAX) has a return on equity of -34.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Praxis Precision Medicines, Inc.'s free cash flow?
Praxis Precision Medicines, Inc. (PRAX) generated -$249.1M in free cash flow during fiscal year 2025. This represents a -89.1% 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 Praxis Precision Medicines, Inc.'s operating cash flow?
Praxis Precision Medicines, Inc. (PRAX) generated -$249.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Praxis Precision Medicines, Inc.'s total assets?
Praxis Precision Medicines, Inc. (PRAX) had $937.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Praxis Precision Medicines, Inc.'s capital expenditures?
Praxis Precision Medicines, Inc. (PRAX) invested $56K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Praxis Precision Medicines, Inc. spend on research and development?
Praxis Precision Medicines, Inc. (PRAX) invested $267.1M in research and development during fiscal year 2025.
What is Praxis Precision Medicines, Inc.'s current ratio?
Praxis Precision Medicines, Inc. (PRAX) had a current ratio of 10.22 as of fiscal year 2025, which is generally considered healthy.
What is Praxis Precision Medicines, Inc.'s debt-to-equity ratio?
Praxis Precision Medicines, Inc. (PRAX) had a debt-to-equity ratio of 0.07 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Praxis Precision Medicines, Inc.'s return on assets (ROA)?
Praxis Precision Medicines, Inc. (PRAX) had a return on assets of -32.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Praxis Precision Medicines, Inc.'s cash runway?
Based on fiscal year 2025 data, Praxis Precision Medicines, Inc. (PRAX) had $357.3M in cash against an annual operating cash burn of $249.1M. This gives an estimated cash runway of approximately 17 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 Praxis Precision Medicines, Inc.'s Piotroski F-Score?
Praxis Precision Medicines, Inc. (PRAX) has a Piotroski F-Score of 2 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Praxis Precision Medicines, Inc.'s earnings high quality?
Praxis Precision Medicines, Inc. (PRAX) has an earnings quality ratio of 0.82x, 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 Praxis Precision Medicines, Inc.?
Praxis Precision Medicines, Inc. (PRAX) scores 50 out of 100 on our Financial Profile, indicating moderate 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.