Quince Financials
This page shows Quince (QNCX) 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).
Quince’s dominant mechanic is research-led cash consumption, with liquidity and balance-sheet support thinning as operating needs persist.
In FY2025, research and development spending rose to$35.4M from$18.6M in FY2024 while operating cash flow widened to-$41.4M , linking the larger research effort directly to heavier cash use. Free cash flow was-$41.8M , nearly matching operating cash flow, indicating that the shortfall is primarily operating investment rather than a large capital-spending program.
Liquidity has tightened sharply: cash was
Positive investing and financing cash flows roughly offset the FY2025 operating outflow, so the period’s cash position was supported by non-operating sources rather than internally generated cash. Long-term debt fell from
Financial Health Signals
Quince 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.
Quince passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass.
Quince reported a net loss of $84.0M while operations used $41.4M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Quince's EBITDA was -$57.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 1.4% from the prior year.
Quince reported -$84.0M in net income in fiscal year 2025. This represents a decrease of 47.8% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Quince recorded an outflow of $41.8M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 29.9% from the prior year.
Quince held $5.8M in cash against $0 in long-term debt as of fiscal year 2025, with $43.2M of liabilities due within a year.
Not reported for fiscal year 2025.
Margins & Returns
None of these metrics is reported for fiscal year 2025.
Capital Allocation
Quince invested $35.4M in research and development in fiscal year 2025. This represents an increase of 90.3% from the prior year.
Quince invested $352K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 37.0% from the prior year.
Not reported for fiscal year 2025.
QNCX 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 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|---|
| R&D Expenses | N/A | $35.4M+90.3% | $18.6M+96.8% | $9.4M-62.5% | $25.2M-58.6% | $60.8M-0.8% | $61.3M+102.9% | $30.2M+199.6% | $10.1M |
| SG&A Expenses | N/A | $15.0M-14.4% | $17.6M-0.6% | $17.7M-32.0% | $26.0M-11.9% | $29.5M+67.9% | $17.6M+96.4% | $9.0M+340.2% | $2.0M |
| Operating Income | N/A | -$58.1M-1.4% | -$57.3M-65.5% | -$34.6M+33.4% | -$52.0M+42.4% | -$90.3M-14.5% | -$78.9M-101.4% | -$39.2M-223.2% | -$12.1M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $957K |
| Income Tax | N/A | $3.2M+3594.3% | $87K+144.2% | -$197K+30.6% | -$284K | $0 | $0 | $0 | $0 |
| Net Income | N/A | -$84.0M-47.8% | -$56.8M-81.0% | -$31.4M+39.2% | -$51.7M+42.6% | -$89.9M-17.0% | -$76.8M-107.8% | -$37.0M-196.4% | -$12.5M |
| EPS (Diluted) | — | -$1.68 | -$1.31-56.0% | -$0.84+45.5% | -$1.54+49.2% | -$3.03 | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Revenue, 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.
QNCX 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 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $93.5M-18.3% | $114.5M-31.8% | $167.9M+61.6% | $103.9M-22.0% | $133.2M-29.7% | $189.5M+52.3% | $124.4M+70.7% | $72.9M |
| Current Assets | $22.9M-48.0% | $44.0M-43.1% | $77.4M-17.4% | $93.7M-16.1% | $111.7M-19.0% | $137.9M+30.0% | $106.1M+46.1% | $72.6M |
| Cash & Equivalents | $5.8M-6.5% | $6.2M-70.1% | $20.8M-48.9% | $40.6M+37.8% | $29.5M-55.9% | $66.8M+30.5% | $51.2M+105.9% | $24.9M |
| Goodwill | N/A | $0-100.0% | $17.6M | $0 | $0 | N/A | N/A | N/A |
| Total Liabilities | $129.2M+53.2% | $84.3M+1.8% | $82.8M+2396.7% | $3.3M-77.3% | $14.6M-14.9% | $17.2M+93.5% | $8.9M-91.6% | $105.5M |
| Current Liabilities | $43.2M+493.9% | $7.3M-24.0% | $9.6M+211.9% | $3.1M-78.4% | $14.2M-16.3% | $17.0M+91.1% | $8.9M+510.3% | $1.5M |
| Long-Term Debt | $0-100.0% | $14.3M+6.6% | $13.4M | $0 | N/A | N/A | N/A | N/A |
| Total Equity | -$35.7M-218.5% | $30.1M-64.6% | $85.1M-15.4% | $100.6M-15.2% | $118.6M-31.2% | $172.3M+49.2% | $115.5M+453.9% | -$32.6M |
| Retained Earnings | -$460.5M-22.3% | -$376.5M-17.8% | -$319.6M-10.9% | -$288.3M-21.8% | -$236.6M-61.3% | -$146.7M-110.1% | -$69.8M-112.7% | -$32.8M |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable.
QNCX 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 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$46.9M | -$41.4M-29.8% | -$31.9M-74.4% | -$18.3M+58.5% | -$44.0M+30.0% | -$62.9M-23.8% | -$50.8M-52.7% | -$33.3M-184.5% | -$11.7M |
| Capital Expenditures | $78K | $352K+37.0% | $257K+60.6% | $160K+20.3% | $133K-26.1% | $180K+246.2% | $52K-5.5% | $55K-74.1% | $212K |
| Free Cash Flow | -$47.0M | -$41.8M-29.9% | -$32.2M-74.3% | -$18.5M+58.2% | -$44.2M+30.0% | -$63.1M-24.1% | -$50.9M-52.6% | -$33.3M-179.9% | -$11.9M |
| Investing Cash Flow | $26.3M | $23.2M+6.0% | $21.9M+480.5% | -$5.8M-132.0% | $18.0M-69.5% | $59.0M+212.4% | -$52.4M-195.4% | -$17.7M+62.0% | -$46.8M |
| Financing Cash Flow | $121.8M | $17.9M+475.1% | -$4.8M-3439.2% | $143K-79.8% | $707K-89.6% | $6.8M-94.3% | $118.9M+53.7% | $77.4M+1.9% | $75.9M |
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.
QNCX Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | N/A | -188.5%-151.6pp | -36.9%+14.5pp | -51.4%+24.5pp | -75.8%-31.2pp | -44.6%-12.6pp | -32.0% | N/A |
| Return on Assets | -89.8%-40.2pp | -49.6%-30.9pp | -18.7%+31.0pp | -49.7%+17.8pp | -67.5%-27.0pp | -40.6%-10.8pp | -29.7%-12.6pp | -17.1% |
| Current Ratio | 0.53-5.5x | 6.05-2.0x | 8.09-22.5x | 30.55+22.7x | 7.85-0.3x | 8.11-3.8x | 11.93-37.9x | 49.82 |
| Debt-to-Equity | N/A | 0.48+0.3x | 0.16+0.2x | 0.00-0.1x | 0.120.0x | 0.100.0x | 0.08 | N/A |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, FCF Margin.
Note: Shareholder equity is negative (-$35.7M), 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.
Note: The current ratio is below 1.0 (0.53), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Where Quince Ranks
Frequently Asked Questions
Is Quince profitable?
No, Quince (QNCX) reported a net income of -$84.0M in fiscal year 2025.
What is Quince's EBITDA?
Quince (QNCX) had EBITDA of -$57.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Quince have?
As of fiscal year 2025, Quince (QNCX) had $5.8M in cash and equivalents against $0 in long-term debt.
What is Quince's free cash flow?
Quince (QNCX) recorded an outflow of $41.8M in free cash flow during fiscal year 2025. This represents a -29.9% 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 Quince's operating cash flow?
Quince (QNCX) recorded an outflow of $41.4M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Quince's total assets?
Quince (QNCX) had $93.5M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Quince's capital expenditures?
Quince (QNCX) invested $352K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Quince spend on research and development?
Quince (QNCX) invested $35.4M in research and development during fiscal year 2025.
What is Quince's current ratio?
Quince (QNCX) had a current ratio of 0.53 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Quince's return on assets (ROA)?
Quince (QNCX) had a return on assets of -89.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Quince's cash runway?
Based on fiscal year 2025 data, Quince (QNCX) had $5.8M in cash against an annual operating cash burn of $41.4M. This gives an estimated cash runway of approximately 2 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.
Why is Quince's debt-to-equity ratio negative or not reported?
Quince (QNCX) has negative shareholder equity of -$35.7M 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 Quince's Piotroski F-Score?
Quince (QNCX) has a Piotroski F-Score of 3 out of 7 computable signals; 2 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 Quince's earnings high quality?
Quince (QNCX) reported a net loss of $84.0M while operations used $41.4M 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.