Q32 BIO INC Financials

QTTB

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Piotroski F-Score Weak

2/9

Q32 BIO INC passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Low Quality

1.42x

For every $1 of reported earnings, Q32 BIO INC generates $1.42 in operating cash flow (-$67.7M OCF vs -$47.7M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-23.3x

Q32 BIO INC earns $-23.3 in operating income for every $1 of interest expense (-$66.1M vs $2.8M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

This page shows Q32 BIO INC (QTTB) 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).

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Key Financial Metrics

Revenue

YoY-100.0%

Q32 BIO INC generated $0 in revenue in fiscal year 2024. This represents a decrease of 100.0% from the prior year.

EBITDA

-$65.6M

YoY-37.4%

Q32 BIO INC's EBITDA was -$65.6M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 37.4% from the prior year.

Free Cash Flow

-$67.8M

YoY-262.9%

Q32 BIO INC generated -$67.8M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 262.9% from the prior year.

Net Income

-$47.7M

YoY+11.2%

Q32 BIO INC reported -$47.7M in net income in fiscal year 2024. This represents an increase of 11.2% from the prior year.

EPS (Diluted)

$-6.58

Q32 BIO INC earned $-6.58 per diluted share (EPS) in fiscal year 2024. This represents an increase of 95.7% from the prior year.

Cash & Debt

$78.0M

YoY+204.3%

5Y CAGR+7.7%

Q32 BIO INC held $78.0M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

12M

Q32 BIO INC had 12M shares outstanding in fiscal year 2024. This represents an increase of 3292.3% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

R&D Spending

$48.1M

YoY+51.7%

5Y CAGR-11.6%

Q32 BIO INC invested $48.1M in research and development in fiscal year 2024. This represents an increase of 51.7% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$75K

YoY+1400.0%

5Y CAGR-67.8%

Q32 BIO INC invested $75K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 1400.0% from the prior year.

QTTB Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$0-100.0%	$1.2M-64.0%	$3.2M-90.6%	$34.0M+1157.3%	$2.7M+62.2%	$1.7M
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	$48.1M+51.7%	$31.7M-67.7%	$98.4M+5.7%	$93.1M-7.3%	$100.4M+12.3%	$89.4M
SG&A Expenses	$18.0M+81.9%	$9.9M-74.1%	$38.1M+3.5%	$36.8M+13.1%	$32.6M+46.7%	$22.2M
Operating Income	-$66.1M-37.0%	-$48.3M+63.8%	-$133.3M-38.9%	-$95.9M+26.3%	-$130.3M-18.5%	-$109.9M
Interest Expense	$2.8M+88.8%	$1.5M	N/A	N/A	N/A	N/A
Income Tax	$21K-93.4%	$318K-55.5%	$715K	$0	$0	$0
Net Income	-$47.7M+11.2%	-$53.7M-973.8%	-$5.0M+94.8%	-$95.8M+25.6%	-$128.7M-23.8%	-$103.9M
EPS (Diluted)	$-6.58	$-153.96	$-0.09+94.8%	$-1.73	N/A	N/A

Metric	Q3'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23
Revenue	N/A	$0	$0	$0	N/A	$1.9M-42.0%	$3.2M+8.8%	$2.9M
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	$3.6M-66.3%	$10.5M-21.4%	$13.4M+36.3%	$9.8M	N/A	$7.5M-6.9%	$8.0M+1.4%	$7.9M
SG&A Expenses	$4.0M+1.0%	$4.0M-11.7%	$4.5M-9.9%	$5.0M	N/A	$2.2M-10.9%	$2.5M+2.2%	$2.4M
Operating Income	-$7.6M+47.8%	-$14.5M+18.9%	-$17.9M-20.7%	-$14.8M	N/A	-$7.8M-7.2%	-$7.3M+1.3%	-$7.4M
Interest Expense	-$220K-104.4%	$5.0M+567.9%	-$1.1M-493.3%	-$180K	N/A	N/A	N/A	N/A
Income Tax	$0-100.0%	$21K	$0	$0	N/A	-$65K	$0	$0
Net Income	-$7.4M+47.9%	-$14.2M+16.4%	-$17.0M-1750.0%	$1.0M	N/A	-$14.0M-141.6%	-$5.8M+15.1%	-$6.8M
EPS (Diluted)	$-0.60-122.8%	$2.63+285.2%	$-1.42+77.6%	$-6.33	N/A	$-40.52-142.8%	$-16.69+15.9%	$-19.84

QTTB Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$92.3M+96.2%	$47.1M-79.4%	$228.5M+7.9%	$211.7M-19.7%	$263.7M-15.1%	$310.6M
Current Assets	$81.9M+185.1%	$28.7M-84.1%	$181.0M-5.7%	$191.9M-12.6%	$219.6M-17.6%	$266.6M
Cash & Equivalents	$78.0M+204.3%	$25.6M-24.6%	$34.0M-68.6%	$108.4M-50.2%	$217.4M+304.3%	$53.8M
Inventory	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
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$86.7M-62.3%	$230.0M-36.0%	$359.2M+753.8%	$42.1M-37.9%	$67.7M+30.1%	$52.1M
Current Liabilities	$16.5M+16.7%	$14.1M-37.5%	$22.6M+31.1%	$17.2M-24.0%	$22.7M+83.1%	$12.4M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$5.7M+103.1%	-$182.9M-39.9%	-$130.7M-177.0%	$169.7M-13.4%	$196.0M-24.2%	$258.5M
Retained Earnings	-$234.8M-25.5%	-$187.1M+56.4%	-$429.1M-1.2%	-$424.1M-29.2%	-$328.4M-64.5%	-$199.7M

Metric	Q3'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23
Total Assets	$57.8M-37.4%	$92.3M-25.7%	$124.2M-18.5%	$152.3M+223.7%	$47.1M-66.4%	$140.1M-17.3%	$169.3M-14.4%	$197.9M
Current Assets	$50.8M-37.9%	$81.9M-26.6%	$111.6M-19.1%	$138.0M+380.7%	$28.7M-73.1%	$106.6M-18.8%	$131.3M-14.5%	$153.6M
Cash & Equivalents	$49.0M-37.1%	$78.0M-20.2%	$97.7M-15.5%	$115.5M+350.9%	$25.6M-29.3%	$36.3M+80.8%	$20.1M-36.1%	$31.4M
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	$76.2M-12.0%	$86.7M-4.5%	$90.7M-12.4%	$103.6M-55.0%	$230.0M-22.4%	$296.5M-5.0%	$312.1M-6.9%	$335.1M
Current Liabilities	$11.1M-32.5%	$16.5M-4.2%	$17.2M-47.8%	$33.0M+133.6%	$14.1M-44.2%	$25.3M+10.3%	$22.9M+23.9%	$18.5M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$18.4M-425.1%	$5.7M-83.1%	$33.5M-31.3%	$48.8M+126.7%	-$182.9M-16.9%	-$156.5M-9.6%	-$142.7M-4.0%	-$137.2M
Retained Earnings	-$262.7M-11.9%	-$234.8M-15.7%	-$203.0M-9.1%	-$186.1M+0.6%	-$187.1M+64.4%	-$526.0M-6.7%	-$493.0M-7.7%	-$458.0M

QTTB Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$67.7M-262.6%	-$18.7M+83.6%	-$113.7M-3.6%	-$109.8M-16.3%	-$94.3M-3.3%	-$91.4M
Capital Expenditures	$75K+1400.0%	$5K-99.6%	$1.3M-46.4%	$2.4M-35.8%	$3.7M-82.9%	$21.8M
Free Cash Flow	-$67.8M-262.9%	-$18.7M+83.7%	-$114.9M-2.5%	-$112.1M-14.4%	-$98.1M+13.4%	-$113.2M
Investing Cash Flow	$19.9M+398600.0%	-$5K-100.0%	$36.7M+172.3%	-$50.8M-124.8%	$204.9M+495.6%	-$51.8M
Financing Cash Flow	$95.1M+23333.0%	$406K-31.9%	$596K-98.9%	$52.2M-1.7%	$53.1M-66.4%	$158.2M
Dividends Paid	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

Metric	Q3'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23
Operating Cash Flow	-$4.2M+63.0%	-$11.4M+48.6%	-$22.2M-52.7%	-$14.6M-35.8%	-$10.7M-167.4%	$15.9M+239.9%	-$11.4M+9.0%	-$12.5M
Capital Expenditures	$0-100.0%	$2K-86.7%	$15K	$0	$0-100.0%	$1K+200.0%	-$1K-120.0%	$5K
Free Cash Flow	-$4.2M+63.0%	-$11.4M+48.6%	-$22.2M-52.8%	-$14.6M-35.8%	-$10.7M-167.4%	$15.9M+239.9%	-$11.4M+9.1%	-$12.5M
Investing Cash Flow	$0+100.0%	-$2K-100.0%	$9.9M+10093.8%	$97K	$0+100.0%	-$1K-200.0%	$1K+120.0%	-$5K
Financing Cash Flow	-$1.6M-593.1%	$317K+105.7%	-$5.5M-105.6%	$99.3M+130618.4%	$76K-74.7%	$300K+1900.0%	$15K0.0%	$15K
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

QTTB Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	-4174.3%-19.7pp	-4154.6%-3872.2pp	-282.4%+4538.5pp	-4821.0%+1778.2pp	-6599.2%
Net Margin	N/A	-4649.0%-4493.0pp	-156.0%+125.9pp	-281.9%+4481.0pp	-4762.9%+1474.5pp	-6237.4%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-51.7%+62.5pp	-114.2%-112.0pp	-2.2%+43.0pp	-45.2%+3.6pp	-48.8%-15.3pp	-33.5%
Current Ratio	4.97+2.9	2.04-6.0	8.02-3.1	11.14+1.5	9.69-11.9	21.54
Debt-to-Equity	15.27+16.5	-1.26+1.5	-2.75-3.0	0.25-0.1	0.35+0.1	0.20
FCF Margin	N/A	-1616.1%+1967.0pp	-3583.1%-3253.0pp	-330.1%+3299.2pp	-3629.4%+3164.8pp	-6794.2%

Metric	Q3'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23
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	-419.5%-192.5pp	-227.0%+23.2pp	-250.2%
Net Margin	N/A	N/A	N/A	N/A	N/A	-754.8%-573.6pp	-181.2%+50.8pp	-232.0%
Return on Equity	N/A	N/A	N/A	2.1%	N/A	N/A	N/A	N/A
Return on Assets	-12.8%+2.6pp	-15.4%-1.7pp	-13.7%-14.3pp	0.7%	N/A	-10.0%-6.6pp	-3.4%+0.0pp	-3.5%
Current Ratio	4.57-0.4	4.97-1.5	6.49+2.3	4.19+2.2	2.04-2.2	4.22-1.5	5.73-2.6	8.30
Debt-to-Equity	-4.13-19.4	15.27+12.6	2.71+0.6	2.12+3.4	-1.26+0.6	-1.90+0.3	-2.19+0.3	-2.44
FCF Margin	N/A	N/A	N/A	N/A	N/A	855.3%+1210.0pp	-354.7%+69.5pp	-424.2%

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Frequently Asked Questions

What is Q32 BIO INC's annual revenue?

Q32 BIO INC (QTTB) reported $0 in total revenue for fiscal year 2024. 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 Q32 BIO INC's revenue growing?

Q32 BIO INC (QTTB) revenue declined by 100% year-over-year, from $1.2M to $0 in fiscal year 2024.

Is Q32 BIO INC profitable?

No, Q32 BIO INC (QTTB) reported a net income of -$47.7M in fiscal year 2024.

What is Q32 BIO INC's earnings per share (EPS)?

Q32 BIO INC (QTTB) reported diluted earnings per share of $-6.58 for fiscal year 2024. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Q32 BIO INC's EBITDA?

Q32 BIO INC (QTTB) had EBITDA of -$65.6M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Q32 BIO INC's free cash flow?

Q32 BIO INC (QTTB) generated -$67.8M in free cash flow during fiscal year 2024. This represents a -262.9% 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 Q32 BIO INC's operating cash flow?

Q32 BIO INC (QTTB) generated -$67.7M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Q32 BIO INC's total assets?

Q32 BIO INC (QTTB) had $92.3M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Q32 BIO INC's capital expenditures?

Q32 BIO INC (QTTB) invested $75K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Q32 BIO INC spend on research and development?

Q32 BIO INC (QTTB) invested $48.1M in research and development during fiscal year 2024.

How many shares does Q32 BIO INC have outstanding?

Q32 BIO INC (QTTB) had 12M shares outstanding as of fiscal year 2024.

What is Q32 BIO INC's current ratio?

Q32 BIO INC (QTTB) had a current ratio of 4.97 as of fiscal year 2024, which is generally considered healthy.

What is Q32 BIO INC's debt-to-equity ratio?

Q32 BIO INC (QTTB) had a debt-to-equity ratio of 15.27 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Q32 BIO INC's return on assets (ROA)?

Q32 BIO INC (QTTB) had a return on assets of -51.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Q32 BIO INC's cash runway?

Based on fiscal year 2024 data, Q32 BIO INC (QTTB) had $78.0M in cash against an annual operating cash burn of $67.7M. This gives an estimated cash runway of approximately 14 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 Q32 BIO INC's Piotroski F-Score?

Q32 BIO INC (QTTB) 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 Q32 BIO INC's earnings high quality?

Q32 BIO INC (QTTB) has an earnings quality ratio of 1.42x, 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.

Can Q32 BIO INC cover its interest payments?

Q32 BIO INC (QTTB) has an interest coverage ratio of -23.3x, meaning it can struggle to cover its interest obligations. 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.