Pyxis Oncology, Inc. Financials
Pyxis Oncology, Inc. (PYXS) reported $13.9M in revenue for fiscal year 2025, down 14.2% 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).
Pyxis remains a development-funded business: modest revenue is outweighed by R&D spending and persistent operating cash consumption.
Operating cash flow was-$64M and free cash flow was also-$64M in FY2025, showing reported losses translated almost directly into cash use rather than being driven by heavy capital spending.
R&D was 5.3x revenue in FY2025, making development spending the dominant operating demand. Gross margin fell to
Total assets fell to
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Pyxis Oncology, Inc.'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.
Pyxis Oncology, Inc.'s reported operating margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 32/100.
Pyxis Oncology, Inc.'s revenue declined 14.2% year-over-year, from $16.1M to $13.9M. This contraction results in a growth score of 7/100.
Pyxis Oncology, Inc. has a moderate D/E ratio of 0.71. This balance of debt and equity financing earns a leverage score of 53/100.
With a current ratio of 3.41, Pyxis Oncology, Inc. holds $3.41 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 81/100.
Pyxis Oncology, Inc.'s reported free cash flow margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 3/100.
Pyxis Oncology, Inc. posts a -149.1% return on equity (ROE), meaning it loses $149 for every $100 of shareholders' equity. This results in a returns score of 24/100. This is down from -64.0% the prior year.
Pyxis Oncology, Inc. scores -4.62, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($278.6M) relative to total liabilities ($38.1M). 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.
Pyxis Oncology, Inc. passes 2 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
Pyxis Oncology, Inc. reported a net loss of $79.6M while operations used $63.5M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Pyxis Oncology, Inc. generated $13.9M in revenue in fiscal year 2025. This represents a decrease of 14.2% from the prior year.
Pyxis Oncology, Inc.'s EBITDA was -$79.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 7.6% from the prior year.
Pyxis Oncology, Inc. reported -$79.6M in net income in fiscal year 2025. This represents a decrease of 3.0% from the prior year.
Pyxis Oncology, Inc. earned -$1.28 per diluted share (EPS) in fiscal year 2025. This represents an increase of 3.0% from the prior year.
Cash & Balance Sheet
Pyxis Oncology, Inc. recorded an outflow of $63.5M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 9.7% from the prior year.
Pyxis Oncology, Inc. held $15.4M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
Pyxis Oncology, Inc.'s gross margin was 82.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 14.3 percentage points from the prior year.
Pyxis Oncology, Inc.'s ROE was -149.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 85.0 percentage points from the prior year.
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.
Capital Allocation
Pyxis Oncology, Inc. invested $73.7M in research and development in fiscal year 2025. This represents an increase of 25.4% from the prior year.
Pyxis Oncology, Inc. invested $9K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 96.2% from the prior year.
Not reported for fiscal year 2025.
PYXS 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 | N/A | $13.9M-14.2% | $16.1M | N/A | N/A | N/A | N/A |
| Cost of Revenue | N/A | $2.4M+402.7% | $475K | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | $11.5M-26.8% | $15.7M | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | $73.7M+25.4% | $58.7M+18.5% | $49.6M-42.4% | $86.1M+68.7% | $51.1M+464.3% | $9.0M |
| SG&A Expenses | N/A | $22.2M-12.7% | $25.4M-22.0% | $32.6M-12.7% | $37.4M+100.1% | $18.7M+385.3% | $3.8M |
| Operating Income | N/A | -$84.4M+5.6% | -$89.5M-8.8% | -$82.2M+33.4% | -$123.5M-77.1% | -$69.7M-440.7% | -$12.9M |
| Income Tax | N/A | $1.4M+164.0% | -$2.2M | N/A | N/A | N/A | N/A |
| Net Income | N/A | -$79.6M-3.0% | -$77.3M-4.8% | -$73.8M+38.9% | -$120.7M-58.9% | -$76.0M-492.3% | -$12.8M |
| EPS (Diluted) | — | -$1.28+3.0% | -$1.32+28.6% | -$1.85+49.3% | -$3.65 | -$8.95 | N/A |
Not reported in any period shown, so not listed: Interest Expense.
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.
PYXS 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 | $91.5M-41.8% | $157.2M-9.5% | $173.7M-17.8% | $211.4M-24.5% | $280.0M+2658.6% | $10.2M |
| Current Assets | $72.1M-45.6% | $132.4M+6.3% | $124.6M-33.2% | $186.6M-33.0% | $278.7M+3339.1% | $8.1M |
| Cash & Equivalents | $15.4M-20.8% | $19.5M+101.5% | $9.7M-94.6% | $179.3M-34.7% | $274.7M+3300.2% | $8.1M |
| Total Liabilities | $38.1M+4.6% | $36.4M-24.1% | $48.0M-5.0% | $50.6M+170.2% | $18.7M-27.5% | $25.8M |
| Current Liabilities | $21.1M+19.5% | $17.7M-31.4% | $25.8M-18.6% | $31.6M+69.1% | $18.7M+407.1% | $3.7M |
| Total Equity | $53.4M-55.8% | $120.8M-3.9% | $125.7M-21.8% | $160.8M-38.5% | $261.3M+1770.3% | -$15.6M |
| Retained Earnings | -$443.2M-21.9% | -$363.6M-27.0% | -$286.2M-34.7% | -$212.4M-131.6% | -$91.7M-482.6% | -$15.7M |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
PYXS 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 | -$67.9M | -$63.5M-10.1% | -$57.7M+18.4% | -$70.7M+20.8% | -$89.3M-152.9% | -$35.3M-250.3% | -$10.1M |
| Capital Expenditures | N/A | $9K-96.2% | $237K-96.5% | $6.7M+5.1% | $6.4M+1085.0% | $540K-63.6% | $1.5M |
| Free Cash Flow | N/A | -$63.5M-9.7% | -$57.9M+25.2% | -$77.4M+19.1% | -$95.7M-166.9% | -$35.9M-210.1% | -$11.6M |
| Investing Cash Flow | $65.4M | $58.9M+621.7% | $8.2M+107.8% | -$104.8M-1538.5% | -$6.4M-984.6% | -$590K+60.2% | -$1.5M |
| Financing Cash Flow | $10.6M | $594K-99.0% | $59.3M+900.6% | $5.9M+3139.9% | $183K-99.9% | $304.0M+868597.1% | $35K |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
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.
PYXS Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|---|
| Gross Margin | 82.8%-14.3pp | 97.1% | N/A | N/A | N/A | N/A |
| Operating Margin | -609.2% | -554.1% | N/A | N/A | N/A | N/A |
| Net Margin | -574.5% | -479.0% | N/A | N/A | N/A | N/A |
| Return on Equity | -149.1%-85.0pp | -64.0%-5.3pp | -58.7%+16.4pp | -75.1%-46.0pp | -29.1% | N/A |
| Return on Assets | -87.0%-37.8pp | -49.2%-6.7pp | -42.5%+14.6pp | -57.1%-30.0pp | -27.1%+99.2pp | -126.4% |
| Current Ratio | 3.41-4.1x | 7.49+2.7x | 4.84-1.1x | 5.90-9.0x | 14.90+12.7x | 2.20 |
| Debt-to-Equity | 0.71+0.4x | 0.30-0.1x | 0.38+0.1x | 0.31+0.2x | 0.07 | N/A |
| FCF Margin | -458.3% | -358.7% | N/A | N/A | N/A | N/A |
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.
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Where Pyxis Oncology, Inc. Ranks
Frequently Asked Questions
What is Pyxis Oncology, Inc.'s annual revenue?
Pyxis Oncology, Inc. (PYXS) reported $13.9M in total revenue for fiscal year 2025. This represents a -14.2% 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 Pyxis Oncology, Inc.'s revenue growing?
Pyxis Oncology, Inc. (PYXS) revenue declined by 14.2% year-over-year, from $16.1M to $13.9M in fiscal year 2025.
Is Pyxis Oncology, Inc. profitable?
No, Pyxis Oncology, Inc. (PYXS) reported a net income of -$79.6M in fiscal year 2025.
What is Pyxis Oncology, Inc.'s EBITDA?
Pyxis Oncology, Inc. (PYXS) had EBITDA of -$79.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Pyxis Oncology, Inc.'s gross margin?
Pyxis Oncology, Inc. (PYXS) had a gross margin of 82.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Pyxis Oncology, Inc.'s return on equity (ROE)?
Pyxis Oncology, Inc. (PYXS) has a return on equity of -149.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Pyxis Oncology, Inc.'s free cash flow?
Pyxis Oncology, Inc. (PYXS) recorded an outflow of $63.5M in free cash flow during fiscal year 2025. This represents a -9.7% 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 Pyxis Oncology, Inc.'s operating cash flow?
Pyxis Oncology, Inc. (PYXS) recorded an outflow of $63.5M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Pyxis Oncology, Inc.'s total assets?
Pyxis Oncology, Inc. (PYXS) had $91.5M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Pyxis Oncology, Inc.'s capital expenditures?
Pyxis Oncology, Inc. (PYXS) invested $9K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Pyxis Oncology, Inc. spend on research and development?
Pyxis Oncology, Inc. (PYXS) invested $73.7M in research and development during fiscal year 2025.
What is Pyxis Oncology, Inc.'s current ratio?
Pyxis Oncology, Inc. (PYXS) had a current ratio of 3.41 as of fiscal year 2025, which is generally considered healthy.
What is Pyxis Oncology, Inc.'s debt-to-equity ratio?
Pyxis Oncology, Inc. (PYXS) had a debt-to-equity ratio of 0.71 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Pyxis Oncology, Inc.'s return on assets (ROA)?
Pyxis Oncology, Inc. (PYXS) had a return on assets of -87.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
How does Pyxis Oncology, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Pyxis Oncology, Inc. (PYXS) held $66.9M in cash, cash equivalents and investments, and reported an operating cash outflow of $63.5M over that year. Dividing the one by the other, the reported balance equals about 13 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Pyxis Oncology, Inc.'s Altman Z-Score?
Pyxis Oncology, Inc. (PYXS) has an Altman Z-Score of -4.62, 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 Pyxis Oncology, Inc.'s Piotroski F-Score?
Pyxis Oncology, Inc. (PYXS) has a Piotroski F-Score of 2 out of 8 computable signals; 1 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 Pyxis Oncology, Inc.'s earnings high quality?
Pyxis Oncology, Inc. (PYXS) reported a net loss of $79.6M while operations used $63.5M 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.
How financially healthy is Pyxis Oncology, Inc.?
Pyxis Oncology, Inc. (PYXS) scores 33 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.