Vicarious Surgical Inc Financials

RBOT

Source SEC Filings (10-K/10-Q) Data as of Apr 30, 2026 Currency USD FYE December

This page shows Vicarious Surgical Inc (RBOT) financial statements, including the 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).

Rhea AI RBOT FY2025 2026-04-30

Vicarious Surgical is still primarily a cash-consuming development operation, with expense cuts outpacing any buildout of operating assets.

Financing inflows fell from $44.7M in FY2023 to $5.8M in FY2025. With operating cash burn still at -$45.1M and cash down to $2.6M in FY2025, the business was no longer being replenished fast enough to offset its development spend.

Capital intensity is low: R&D plus SG&A totaled $48.8M in FY2025, while capex was only $132K. That means most cash use is tied to people and program spending, so burn reduction depends more on operating discipline than on cutting factory-like investment.

Balance-sheet pressure is a liquidity issue, not a debt one. FY2025 liabilities of $9.7M were roughly matched by equity of $9.8M. But cash had fallen to $2.6M, so near-term funding flexibility matters more than interest burden.

Financial Health Signals

Financial health score pending refresh

We are recalculating Vicarious Surgical Inc's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Piotroski F-Score Partial

1/5

Vicarious Surgical Inc passes 1 of 5 computable financial strength tests (4 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).

Earnings Quality Low Quality

0.90x

For every $1 of reported earnings, Vicarious Surgical Inc generates $0.90 in operating cash flow (-$45.1M OCF vs -$50.2M 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

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Earnings & Revenue

Revenue

N/A

EBITDA

-$48.6M

YoY+24.6%

Vicarious Surgical Inc's EBITDA was -$48.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 24.6% from the prior year.

Net Income

-$50.2M

YoY+20.6%

Vicarious Surgical Inc reported -$50.2M in net income in fiscal year 2025. This represents an increase of 20.6% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

-$45.2M

YoY+9.8%

Vicarious Surgical Inc generated -$45.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 9.8% from the prior year.

Cash & Debt

$9.8M

YoY+0.6%

5Y CAGR-10.3%

Vicarious Surgical Inc held $9.8M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-356.2%

YoY-220.8pp

Vicarious Surgical Inc's ROE was -356.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 220.8 percentage points from the prior year.

Capital Allocation

R&D Spending

$33.6M

YoY-16.3%

5Y CAGR+28.0%

Vicarious Surgical Inc invested $33.6M in research and development in fiscal year 2025. This represents a decrease of 16.3% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$132K

YoY-26.7%

5Y CAGR+1.9%

Vicarious Surgical Inc invested $132K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 26.7% from the prior year.

RBOT Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	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
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$33.6M-16.3%	$40.2M-15.6%	$47.6M+8.4%	$43.9M+99.0%	$22.1M+125.2%	$9.8M
SG&A Expenses	$15.2M-30.5%	$21.9M-18.6%	$26.9M-9.6%	$29.7M+125.1%	$13.2M+467.1%	$2.3M
Operating Income	-$50.0M+24.8%	-$66.6M+17.5%	-$80.7M-0.7%	-$80.1M-109.5%	-$38.2M-194.4%	-$13.0M
Interest Expense	N/A	N/A	$25K-87.5%	$200K+124.7%	$89K+2866.7%	$3K
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$50.2M+20.6%	-$63.2M+11.0%	-$71.1M-1478.1%	$5.2M+114.6%	-$35.2M-173.5%	-$12.9M
EPS (Diluted)	N/A	N/A	$-0.49-1325.0%	$0.04+111.1%	$-0.36-125.0%	$-0.16

Metric	Q2'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
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	$5.0M	N/A	$8.0M-11.7%	$9.1M-3.9%	$9.4M	N/A	$10.8M-1.1%	$10.9M
SG&A Expenses	$2.1M	N/A	$3.2M-23.3%	$4.1M-22.1%	$5.3M	N/A	$5.7M+2.8%	$5.6M
Operating Income	-$7.5M	N/A	-$11.5M+14.9%	-$13.5M+14.1%	-$15.7M	N/A	-$17.8M-0.2%	-$17.7M
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	-$7.3M	N/A	-$11.1M+16.3%	-$13.2M+14.2%	-$15.4M	N/A	-$17.1M-12.4%	-$15.2M
EPS (Diluted)	$-1.03	N/A	N/A	N/A	N/A	N/A	N/A	$-2.59

RBOT Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$29.3M-56.7%	$67.7M-43.5%	$119.9M-14.6%	$140.3M-22.8%	$181.7M+921.4%	$17.8M
Current Assets	$15.1M-70.8%	$51.7M-48.8%	$101.0M-16.2%	$120.4M-32.5%	$178.4M+941.6%	$17.1M
Cash & Equivalents	$9.8M+0.6%	$9.7M-81.6%	$52.8M-54.5%	$116.2M-33.0%	$173.5M+928.7%	$16.9M
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	$15.3M-27.4%	$21.0M-4.0%	$21.9M-25.1%	$29.2M-70.3%	$98.6M+107.1%	$47.6M
Current Liabilities	$3.2M-58.6%	$7.7M+5.3%	$7.3M-13.3%	$8.4M+34.4%	$6.2M+667.2%	$814K
Long-Term Debt	N/A	N/A	$2.0M	N/A	$675K	N/A
Total Equity	$14.1M-69.8%	$46.7M-52.3%	$98.0M-11.8%	$111.0M+33.6%	$83.1M+378.7%	-$29.8M
Retained Earnings	-$235.6M-20.2%	-$195.9M-47.6%	-$132.7M-115.3%	-$61.6M+7.7%	-$66.8M-111.4%	-$31.6M

Metric	Q2'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$12.6M-35.7%	$19.6M-33.3%	$29.3M-28.2%	$40.9M-25.7%	$55.1M-18.7%	$67.7M-16.0%	$80.6M-13.6%	$93.3M
Current Assets	$5.2M-55.5%	$11.6M-23.2%	$15.1M-42.2%	$26.1M-34.3%	$39.7M-23.3%	$51.7M-19.2%	$64.0M-15.7%	$75.9M
Cash & Equivalents	$1.4M-85.6%	$9.8M+209.5%	$3.2M-19.1%	$3.9M+50.4%	$2.6M-73.3%	$9.7M+37.7%	$7.1M-65.1%	$20.3M
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	$9.0M-7.4%	$9.7M-36.2%	$15.3M-14.4%	$17.8M-15.0%	$21.0M-0.2%	$21.0M-7.5%	$22.7M+5.8%	$21.5M
Current Liabilities	$3.3M-14.2%	$3.9M+22.9%	$3.2M-37.7%	$5.1M-35.1%	$7.9M+2.5%	$7.7M-10.9%	$8.6M+19.8%	$7.2M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$3.6M-63.7%	$9.8M-30.1%	$14.1M-38.9%	$23.1M-32.3%	$34.1M-27.0%	$46.7M-19.3%	$57.9M-19.5%	$71.9M
Retained Earnings	-$253.4M-3.0%	-$246.1M-4.5%	-$235.6M-4.9%	-$224.5M-6.3%	-$211.3M-7.9%	-$195.9M-7.7%	-$182.0M-10.4%	-$164.9M

RBOT Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$45.1M+9.8%	-$50.0M+19.8%	-$62.3M-1.8%	-$61.2M-83.8%	-$33.3M-176.6%	-$12.0M
Capital Expenditures	$132K-26.7%	$180K-89.2%	$1.7M-68.8%	$5.4M+315.2%	$1.3M+974.2%	$120K
Free Cash Flow	-$45.2M+9.8%	-$50.1M+21.6%	-$64.0M+3.9%	-$66.6M-92.5%	-$34.6M-184.5%	-$12.2M
Investing Cash Flow	$32.1M+368.4%	$6.9M+115.0%	-$45.8M-755.4%	-$5.4M-315.2%	-$1.3M-109.8%	$13.2M
Financing Cash Flow	$5.8M+71912.5%	$8K-100.0%	$44.7M+388.8%	$9.1M-95.2%	$192.2M+1321.9%	$13.5M
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	Q2'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$6.3M+32.1%	-$9.3M+11.0%	-$10.5M+22.7%	-$13.5M-15.0%	-$11.8M+0.2%	-$11.8M+7.1%	-$12.7M-15.1%	-$11.0M
Capital Expenditures	$9K	N/A	N/A	$0-100.0%	$5K	N/A	N/A	$6K
Free Cash Flow	-$6.3M	N/A	N/A	-$13.5M-14.9%	-$11.8M	N/A	N/A	-$11.0M
Investing Cash Flow	$5.1M+67.4%	$3.0M-68.8%	$9.7M-34.6%	$14.8M+221.2%	$4.6M-68.1%	$14.4M+3037.0%	-$492K+92.9%	-$7.0M
Financing Cash Flow	-$154K-102.7%	$5.7M+21800.0%	$26K+8.3%	$24K+41.2%	$17K+183.3%	$6K	$0	$0
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

RBOT 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	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	-356.2%-220.8pp	-135.4%-62.9pp	-72.5%-77.2pp	4.6%+47.0pp	-42.4%	N/A
Return on Assets	-171.0%-77.6pp	-93.4%-34.1pp	-59.3%-63.0pp	3.7%+23.1pp	-19.4%+53.0pp	-72.4%
Current Ratio	4.75-2.0	6.74-7.1	13.87-0.5	14.35-14.2	28.56+7.5	21.04
Debt-to-Equity	1.08+0.6	0.45+0.4	0.02-0.2	0.26+0.3	0.01+1.6	-1.60
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
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	-205.3%	N/A	-78.5%-21.2pp	-57.3%-12.1pp	-45.2%	N/A	-29.5%-8.4pp	-21.2%
Return on Assets	-58.2%	N/A	-37.7%-5.4pp	-32.3%-4.4pp	-28.0%	N/A	-21.2%-4.9pp	-16.3%
Current Ratio	1.54-1.4	2.97-1.8	4.75-0.4	5.11+0.1	5.05-1.7	6.74-0.7	7.44-3.1	10.57
Debt-to-Equity	2.53+1.5	0.99-0.1	1.08+0.3	0.77+0.2	0.62+0.2	0.45+0.1	0.39+0.1	0.30
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

Is Vicarious Surgical Inc profitable?

No, Vicarious Surgical Inc (RBOT) reported a net income of -$50.2M in fiscal year 2025.

What is Vicarious Surgical Inc's EBITDA?

Vicarious Surgical Inc (RBOT) had EBITDA of -$48.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Vicarious Surgical Inc's return on equity (ROE)?

Vicarious Surgical Inc (RBOT) has a return on equity of -356.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Vicarious Surgical Inc's free cash flow?

Vicarious Surgical Inc (RBOT) generated -$45.2M in free cash flow during fiscal year 2025. This represents a 9.8% 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 Vicarious Surgical Inc's operating cash flow?

Vicarious Surgical Inc (RBOT) generated -$45.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Vicarious Surgical Inc's total assets?

Vicarious Surgical Inc (RBOT) had $29.3M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Vicarious Surgical Inc's capital expenditures?

Vicarious Surgical Inc (RBOT) invested $132K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Vicarious Surgical Inc spend on research and development?

Vicarious Surgical Inc (RBOT) invested $33.6M in research and development during fiscal year 2025.

What is Vicarious Surgical Inc's current ratio?

Vicarious Surgical Inc (RBOT) had a current ratio of 4.75 as of fiscal year 2025, which is generally considered healthy.

What is Vicarious Surgical Inc's debt-to-equity ratio?

Vicarious Surgical Inc (RBOT) had a debt-to-equity ratio of 1.08 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Vicarious Surgical Inc's return on assets (ROA)?

Vicarious Surgical Inc (RBOT) had a return on assets of -171.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Vicarious Surgical Inc's cash runway?

Based on fiscal year 2025 data, Vicarious Surgical Inc (RBOT) had $9.8M in cash against an annual operating cash burn of $45.1M. This gives an estimated cash runway of approximately 3 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 Vicarious Surgical Inc's Piotroski F-Score?

Vicarious Surgical Inc (RBOT) has a Piotroski F-Score of 1 out of 5 computable signals; 4 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 Vicarious Surgical Inc's earnings high quality?

Vicarious Surgical Inc (RBOT) has an earnings quality ratio of 0.90x, 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.