Puretech Health Financials

PRTC

Source SEC Filings (10-K/10-Q) Updated Apr 29, 2026 Currency USD FYE April

This page shows Puretech Health (PRTC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 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 PRTC FY2024 2026-04-29

Cash is being rebuilt through portfolio monetization while operations still consume cash despite a FY2024 accounting profit.

The FY2024 profit-cash split is the key mechanic: net income turned positive at $27.8M, yet operating cash flow stayed at -$134.4M. Cash still increased because investing cash flow brought in $240.9M, so liquidity improved through asset realizations rather than recurring cash generation; the income statement and cash flow statement are describing different realities.

The balance sheet is liquid: cash of $280.6M exceeded total liabilities of $194.7M, and debt use is minimal. That gives the company unusual short-term flexibility for a cash-consuming model, because near-term obligations appear manageable without relying on fresh borrowing.

Across FY2022 to FY2024, assets and equity trended down even as cash rebounded from $149.9M to $280.6M. Combined with fewer shares outstanding and ongoing buybacks, that looks more like capital recycling as investments mature than an operating model funding itself, while the core cash engine remains negative.

Financial Health Signals

Financial Profile 44/100

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 Puretech Health'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.

Growth

Puretech Health's revenue declined 3.5% year-over-year, from $4.8M to $4.7M. This contraction results in a growth score of 64/100.

Leverage

100

Puretech Health carries a low D/E ratio of 0.04, meaning only $0.04 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.

Liquidity

100

With a current ratio of 6.59, Puretech Health holds $6.59 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Cash Flow

While Puretech Health generated -$85.1M in operating cash flow, capex of $6K consumed most of it, leaving -$85.1M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Puretech Health generates a -36.0% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from 6.8% the prior year.

Piotroski F-Score Weak

3/9

Puretech Health passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Low Quality

0.77x

For every $1 of reported earnings, Puretech Health generates $0.77 in operating cash flow (-$85.1M OCF vs -$110.1M 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

Export CSV

Earnings & Revenue

Revenue

$4.7M

YoY-3.5%

5Y CAGR-16.9%

Puretech Health generated $4.7M in revenue in fiscal year 2025. This represents a decrease of 3.5% from the prior year.

EBITDA

N/A

Net Income

-$110.1M

YoY-496.2%

Puretech Health reported -$110.1M in net income in fiscal year 2025. This represents a decrease of 496.2% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

-$85.1M

YoY+36.6%

Puretech Health generated -$85.1M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 36.6% from the prior year.

Cash & Debt

$252.5M

YoY-10.0%

5Y CAGR-9.0%

Puretech Health held $252.5M in cash against $11.1M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

242M

YoY+0.9%

5Y CAGR-3.3%

Puretech Health had 242M shares outstanding in fiscal year 2025. This represents an increase of 0.9% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

-2362.8%

YoY-2938.3pp

5Y CAGR-2401.6pp

Puretech Health's net profit margin was -2362.8% in fiscal year 2025, showing the share of revenue converted to profit. This is down 2938.3 percentage points from the prior year.

Return on Equity

-36.0%

YoY-42.8pp

5Y CAGR-36.7pp

Puretech Health's ROE was -36.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 42.8 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$19.6M

YoY+310.1%

Puretech Health spent $19.6M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 310.1% from the prior year.

Capital Expenditures

$6K

YoY-45.5%

5Y CAGR-74.1%

Puretech Health invested $6K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 45.5% from the prior year.

PRTC Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$4.7M-3.5%	$4.8M+45.0%	$3.3M-78.7%	$15.6M-10.2%	$17.4M+47.8%	$11.8M
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	$1.1M-17.8%	$1.3M-16.1%	$1.5M-22.1%	$2.0M-9.1%	$2.2M-7.3%	$2.4M
Income Tax	-$842K+79.0%	-$4.0M-113.1%	$30.5M+154.8%	-$55.7M-1583.5%	$3.8M-73.9%	$14.4M
Net Income	-$110.1M-496.2%	$27.8M+141.7%	-$66.6M-79.8%	-$37.1M+40.9%	-$62.7M-1472.8%	$4.6M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q1'25	Q3'24	Q3'23	Q3'22	Q3'21	Q3'20	Q3'19
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

PRTC Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$534.7M-11.3%	$602.6M-13.2%	$694.0M-1.2%	$702.6M-25.7%	$946.0M-4.4%	$990.0M
Current Assets	$305.0M-21.0%	$386.3M+11.2%	$347.2M-10.1%	$386.2M-23.0%	$501.8M+21.1%	$414.3M
Cash & Equivalents	$252.5M-10.0%	$280.6M+46.9%	$191.1M+27.5%	$149.9M-67.8%	$465.7M+15.3%	$403.9M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$1.8M+15.5%	$1.5M-35.9%	$2.4M-80.0%	$11.9M+273.9%	$3.2M+24.1%	$2.6M
Goodwill	$23.2M	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$229.0M+17.6%	$194.7M-17.4%	$235.7M+52.0%	$155.1M-57.1%	$361.9M+7.6%	$336.5M
Current Liabilities	$46.3M+11.9%	$41.4M-19.4%	$51.4M-47.0%	$96.9M-57.2%	$226.1M+25.0%	$180.9M
Long-Term Debt	$11.1M-24.4%	$14.7M-19.6%	$18.3M-24.4%	$24.2M-16.8%	$29.0M-9.5%	$32.1M
Total Equity	$305.7M-25.1%	$407.9M-11.0%	$458.2M-16.3%	$547.6M-6.3%	$584.1M-10.6%	$653.5M
Retained Earnings	-$77.2M-337.7%	$32.5M-61.2%	$83.8M-43.9%	$149.5M-25.2%	$199.9M-23.3%	$260.4M

Metric	Q3'25	Q1'25	Q3'24	Q3'23	Q3'22	Q3'21	Q3'20	Q3'19
Total Assets	$602.6M+3.9%	$580.0M-16.4%	$694.0M-1.2%	$702.6M-25.7%	$946.0M-4.4%	$990.0M+5.2%	$941.2M	N/A
Current Assets	$386.3M-24.1%	$508.8M+46.5%	$347.2M-10.1%	$386.2M-23.0%	$501.8M+21.1%	$414.3M+145.4%	$168.8M	N/A
Cash & Equivalents	$280.6M-9.0%	$308.5M+61.4%	$191.1M+27.5%	$149.9M-67.8%	$465.7M+15.3%	$403.9M+205.1%	$132.4M+13.1%	$117.1M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$1.5M-25.9%	$2.1M-13.5%	$2.4M-80.0%	$11.9M+273.9%	$3.2M+24.1%	$2.6M+29.4%	$2.0M	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$194.7M-28.9%	$273.7M+16.1%	$235.7M+52.0%	$155.1M-57.1%	$361.9M+7.6%	$336.5M+15.7%	$290.8M	N/A
Current Liabilities	$41.4M-70.1%	$138.3M+169.3%	$51.4M-47.0%	$96.9M-57.2%	$226.1M+25.0%	$180.9M+30.0%	$139.2M	N/A
Long-Term Debt	$14.7M-10.7%	$16.4M-10.0%	$18.3M-24.4%	$24.2M-16.8%	$29.0M-9.5%	$32.1M-8.1%	$34.9M	$0
Total Equity	$407.9M+33.2%	$306.2M-33.2%	$458.2M-16.3%	$547.6M-6.3%	$584.1M-10.6%	$653.5M+0.5%	$650.4M+287.2%	$168.0M
Retained Earnings	$32.5M+152.0%	-$62.5M-174.6%	$83.8M-43.9%	$149.5M-25.2%	$199.9M-23.3%	$260.4M+2.4%	$254.4M	N/A

PRTC Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$85.1M+36.6%	-$134.4M-26.9%	-$105.9M+40.8%	-$178.8M-13.0%	-$158.3M-20.1%	-$131.8M
Capital Expenditures	$6K-45.5%	$11K-84.3%	$70K-96.8%	$2.2M-60.9%	$5.6M+7.8%	$5.2M
Free Cash Flow	-$85.1M+36.6%	-$134.4M-26.8%	-$106.0M+41.4%	-$181.0M-10.5%	-$163.8M-19.6%	-$137.0M
Investing Cash Flow	$63.3M-73.7%	$240.9M+249.2%	$69.0M+164.3%	-$107.2M-154.3%	$197.4M-45.8%	$364.5M
Financing Cash Flow	-$6.3M+62.7%	-$17.0M-121.7%	$78.1M+362.0%	-$29.8M-231.2%	$22.7M-41.5%	$38.9M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$19.6M+310.1%	$4.8M-75.6%	$19.6M-25.8%	$26.5M	N/A	N/A

Metric	Q3'25	Q1'25	Q3'24	Q3'23	Q3'22	Q3'21	Q3'20	Q3'19
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

PRTC 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	-2362.8%-2938.3pp	575.4%+2576.3pp	-2000.8%-1763.5pp	-237.3%+123.3pp	-360.6%-399.5pp	38.8%
Return on Equity	-36.0%-42.8pp	6.8%+21.3pp	-14.5%-7.8pp	-6.8%+4.0pp	-10.7%-11.4pp	0.7%
Return on Assets	-20.6%-25.2pp	4.6%+14.2pp	-9.6%-4.3pp	-5.3%+1.3pp	-6.6%-7.1pp	0.5%
Current Ratio	6.59-2.7	9.33+2.6	6.76+2.8	3.99+1.8	2.22-0.1	2.29
Debt-to-Equity	0.040.0	0.040.0	0.040.0	0.040.0	0.050.0	0.05
FCF Margin	-1827.4%+956.0pp	-2783.3%+399.4pp	-3182.8%-2024.1pp	-1158.7%-216.4pp	-942.3%+221.9pp	-1164.2%

Metric	Q3'25	Q1'25	Q3'24	Q3'23	Q3'22	Q3'21	Q3'20	Q3'19
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	9.33+5.7	3.68-3.1	6.76+2.8	3.99+1.8	2.22-0.1	2.29+1.1	1.21	N/A
Debt-to-Equity	0.04-0.0	0.05+0.0	0.040.0	0.040.0	0.050.0	0.050.0	0.05+0.1	0.00
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Similar Companies

Lexicon Pharmaceuticals Inc LXRX

$990.6M

Cullinan Oncology Inc CGEM

$966.7M

Fulcrum Therapeutics FULC

$445.8M

Diamedica Therapeutics Inc DMAC

$326.5M

Frequently Asked Questions

What is Puretech Health's annual revenue?

Puretech Health (PRTC) reported $4.7M in total revenue for fiscal year 2025. This represents a -3.5% 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 Puretech Health's revenue growing?

Puretech Health (PRTC) revenue declined by 3.5% year-over-year, from $4.8M to $4.7M in fiscal year 2025.

Is Puretech Health profitable?

No, Puretech Health (PRTC) reported a net income of -$110.1M in fiscal year 2025, with a net profit margin of -2362.8%.

How much debt does Puretech Health have?

As of fiscal year 2025, Puretech Health (PRTC) had $252.5M in cash and equivalents against $11.1M in long-term debt.

What is Puretech Health's net profit margin?

Puretech Health (PRTC) had a net profit margin of -2362.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Puretech Health's return on equity (ROE)?

Puretech Health (PRTC) has a return on equity of -36.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Puretech Health's free cash flow?

Puretech Health (PRTC) generated -$85.1M in free cash flow during fiscal year 2025. This represents a 36.6% 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 Puretech Health's operating cash flow?

Puretech Health (PRTC) generated -$85.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Puretech Health's total assets?

Puretech Health (PRTC) had $534.7M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Puretech Health's capital expenditures?

Puretech Health (PRTC) invested $6K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Puretech Health buy back shares?

Yes, Puretech Health (PRTC) spent $19.6M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Puretech Health have outstanding?

Puretech Health (PRTC) had 242M shares outstanding as of fiscal year 2025.

What is Puretech Health's current ratio?

Puretech Health (PRTC) had a current ratio of 6.59 as of fiscal year 2025, which is generally considered healthy.

What is Puretech Health's debt-to-equity ratio?

Puretech Health (PRTC) had a debt-to-equity ratio of 0.04 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Puretech Health's return on assets (ROA)?

Puretech Health (PRTC) had a return on assets of -20.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Puretech Health's cash runway?

Based on fiscal year 2025 data, Puretech Health (PRTC) had $252.5M in cash against an annual operating cash burn of $85.1M. This gives an estimated cash runway of approximately 36 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 Puretech Health's Piotroski F-Score?

Puretech Health (PRTC) has a Piotroski F-Score of 3 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 Puretech Health's earnings high quality?

Puretech Health (PRTC) has an earnings quality ratio of 0.77x, 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 Puretech Health?

Puretech Health (PRTC) scores 44 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.