ProKidney Financials
ProKidney (PROK) reported $893K in revenue for fiscal year 2025, up 1075.0% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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).
ProKidney is still a cash-funded development business, with clinical spending far larger than its $893K of revenue.
In FY2025, cash ended higher at$108.5M than FY2024 even though operations still used$120.1M . With investing cash providing$104.0M and financing adding only$25.6M , the stronger cash balance does not mark self-funded operations; it reflects non-operating liquidity support.
R&D spending of
Near-term liquidity looks far stronger than the income statement: current assets of
Financial Health Signals
ProKidney 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.
ProKidney scores -5.72, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($690.6M) relative to total liabilities ($1.3B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
ProKidney passes 1 of 6 computable financial strength tests (3 of the nine could not be computed from available data). No profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
ProKidney reported a net loss of $69.0M while operations used $120.1M of cash. With neither figure positive, the ratio between the two carries no quality signal.
ProKidney reported an operating loss of $165.0M against $4K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
ProKidney generated $893K in revenue in fiscal year 2025. This represents an increase of 1075.0% from the prior year.
ProKidney's EBITDA was -$158.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 11.1% from the prior year.
ProKidney reported -$69.0M in net income in fiscal year 2025. This represents a decrease of 12.7% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
ProKidney recorded an outflow of $135.3M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents an increase of 13.2% from the prior year.
ProKidney held $108.5M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
Not reported for fiscal year 2025.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not reported for fiscal year 2025.
Capital Allocation
ProKidney invested $114.1M in research and development in fiscal year 2025. This represents a decrease of 10.6% from the prior year.
ProKidney repurchased no shares in fiscal year 2025.
ProKidney invested $15.2M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 48.5% from the prior year.
PROK Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|---|
| Revenue | $818K | $893K+1075.0% | $76K | $0 | $0 | N/A | N/A |
| R&D Expenses | $130.9M | $114.1M-10.6% | $127.7M+19.6% | $106.7M+30.0% | $82.1M+77.4% | $46.3M+119.8% | $21.0M |
| SG&A Expenses | $47.1M | $51.8M-7.7% | $56.1M+25.1% | $44.8M-36.8% | $70.9M+701.1% | $8.9M+48.0% | $6.0M |
| Operating Income | -$177.2M | -$165.0M+10.2% | -$183.7M-21.2% | -$151.5M+1.0% | -$153.0M-177.6% | -$55.1M-103.9% | -$27.0M |
| Interest Expense | $19K | $4K-55.6% | $9K-25.0% | $12K-94.4% | $215K | $0 | $0 |
| Income Tax | -$1.0M | $414K+169.2% | -$598K-110.0% | $6.0M+569.2% | $896K+2257.9% | $38K+116.4% | -$232K |
| Net Income | -$84.2M | -$69.0M-12.7% | -$61.2M-72.5% | -$35.5M+76.1% | -$148.1M-168.6% | -$55.1M-106.2% | -$26.7M |
| EPS (Diluted) | — | N/A | N/A | N/A | -$0.23 | N/A | N/A |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit.
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.
PROK Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|
| Total Assets | $335.6M-23.9% | $441.1M+4.9% | $420.6M-18.8% | $518.0M+1185.4% | $40.3M | N/A |
| Current Assets | $280.7M-29.1% | $395.9M+5.8% | $374.1M-25.9% | $504.7M+1750.8% | $27.3M | N/A |
| Cash & Equivalents | $108.5M+9.5% | $99.1M+63.4% | $60.6M-87.6% | $490.3M+2284.7% | $20.6M+349.1% | $4.6M |
| Total Liabilities | $1.3B-6.2% | $1.4B-5.8% | $1.5B-5.6% | $1.6B+11966.5% | $13.4M | N/A |
| Current Liabilities | $30.7M-15.1% | $36.2M+44.6% | $25.0M+130.3% | $10.9M-11.7% | $12.3M | N/A |
| Total Equity | -$1.0B-1.6% | -$995.0M+9.8% | -$1.1B-0.6% | -$1.1B-4174.1% | $26.9M+172.9% | $9.9M |
| Retained Earnings | -$1.3B-5.7% | -$1.2B-5.4% | -$1.1B-3.2% | -$1.1B-583.6% | -$161.5M | N/A |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
PROK Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$141.2M | -$120.1M+4.9% | -$126.4M-40.3% | -$90.1M-16.8% | -$77.1M-53.3% | -$50.3M-99.7% | -$25.2M |
| Capital Expenditures | $18.6M | $15.2M-48.5% | $29.5M-13.7% | $34.2M+1752.5% | $1.8M-64.4% | $5.2M-4.8% | $5.5M |
| Free Cash Flow | -$159.7M | -$135.3M+13.2% | -$155.9M-25.4% | -$124.3M-57.4% | -$78.9M-42.2% | -$55.5M-81.1% | -$30.6M |
| Investing Cash Flow | $104.7M | $104.0M+409.3% | $20.4M+106.2% | -$330.0M-18886.4% | -$1.7M+66.5% | -$5.2M+4.9% | -$5.5M |
| Financing Cash Flow | $26.4M | $25.6M-82.3% | $144.4M+1612.0% | -$9.6M-101.7% | $548.5M+667.5% | $71.5M+257.5% | $20.0M |
| Share Buybacks | N/A | $0 | $0-100.0% | $9.5M | $0 | $0 | N/A |
Not reported in any period shown, so not listed: Dividends Paid.
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.
PROK Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|
| Operating Margin | -18477.8% | -241678.9% | N/A | N/A | N/A | N/A |
| Net Margin | -7725.2% | -80507.9% | N/A | N/A | N/A | N/A |
| Return on Equity | N/A | N/A | N/A | N/A | -204.9%+66.3pp | -271.2% |
| Return on Assets | -20.6%-6.7pp | -13.9%-5.4pp | -8.4%+20.2pp | -28.6%+108.3pp | -136.8% | N/A |
| Current Ratio | 9.13-1.8x | 10.93-4.0x | 14.94-31.5x | 46.42+44.2x | 2.21 | N/A |
| Debt-to-Equity | N/A | N/A | N/A | N/A | 0.50 | N/A |
| FCF Margin | -15152.6% | -205078.9% | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Gross Margin.
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.
Note: Shareholder equity is negative (-$1.0B), 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.
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Where ProKidney Ranks
Frequently Asked Questions
What is ProKidney's annual revenue?
ProKidney (PROK) reported $893K in total revenue for fiscal year 2025. This represents a 1075.0% 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 ProKidney's revenue growing?
ProKidney (PROK) revenue grew by 1075.0% year-over-year, from $76K to $893K in fiscal year 2025.
Is ProKidney profitable?
No, ProKidney (PROK) reported a net income of -$69.0M in fiscal year 2025.
What is ProKidney's EBITDA?
ProKidney (PROK) had EBITDA of -$158.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is ProKidney's free cash flow?
ProKidney (PROK) recorded an outflow of $135.3M in free cash flow during fiscal year 2025. This represents a 13.2% 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 ProKidney's operating cash flow?
ProKidney (PROK) recorded an outflow of $120.1M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are ProKidney's total assets?
ProKidney (PROK) had $335.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What are ProKidney's capital expenditures?
ProKidney (PROK) invested $15.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does ProKidney spend on research and development?
ProKidney (PROK) invested $114.1M in research and development during fiscal year 2025.
What is ProKidney's current ratio?
ProKidney (PROK) had a current ratio of 9.13 as of fiscal year 2025, which is generally considered healthy.
What is ProKidney's return on assets (ROA)?
ProKidney (PROK) had a return on assets of -20.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Why is ProKidney's debt-to-equity ratio negative or not reported?
ProKidney (PROK) has negative shareholder equity of -$1.0B as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. 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.
What is ProKidney's Altman Z-Score?
ProKidney (PROK) has an Altman Z-Score of -5.72, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is ProKidney's Piotroski F-Score?
ProKidney (PROK) has a Piotroski F-Score of 1 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 ProKidney's earnings high quality?
ProKidney (PROK) reported a net loss of $69.0M while operations used $120.1M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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.
Can ProKidney cover its interest payments?
ProKidney (PROK) reported an operating loss of $165.0M against $4K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.