Replimune Group Financials
This page shows Replimune Group (REPL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 10 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).
Replimune is operating as a cash-funded development program, with external financing repeatedly refilling losses that convert into real cash burn each year.
Most recently, net loss and operating cash burn were close together: net loss was-$247.3M while operating cash flow was-$192.3M . With capex only$6.7M , that gap implies the business is consuming cash through research activity, not through a capital-heavy operating base; the burn is tied more to ongoing development work than to maintaining large physical assets.
Cash rose from
The cost structure is still R&D-led: research spending reached
Financial Health Signals
We are recalculating Replimune Group'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.
Replimune Group passes 1 of 7 computable financial strength tests (2 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).
For every $1 of reported earnings, Replimune Group generates $0.89 in operating cash flow (-$280.3M OCF vs -$313.9M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Replimune Group earns $-47.1 in operating income for every $1 of interest expense (-$319.9M vs $6.8M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Replimune Group's EBITDA was -$316.6M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 22.6% from the prior year.
Replimune Group reported -$313.9M in net income in fiscal year 2026. This represents a decrease of 26.9% from the prior year.
Replimune Group earned $-3.38 per diluted share (EPS) in fiscal year 2026. This represents a decrease of 10.1% from the prior year.
Cash & Balance Sheet
Replimune Group generated -$284.6M in free cash flow in fiscal year 2026, representing cash available after capex. This represents a decrease of 43.0% from the prior year.
Replimune Group held $209.0M in cash against $83.3M in long-term debt as of fiscal year 2026.
Replimune Group had 83M shares outstanding in fiscal year 2026. This represents an increase of 7.3% from the prior year.
Margins & Returns
Replimune Group's ROE was -188.9% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is down 129.5 percentage points from the prior year.
Capital Allocation
Replimune Group invested $221.2M in research and development in fiscal year 2026. This represents an increase of 16.8% from the prior year.
Replimune Group invested $4.2M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents a decrease of 36.8% from the prior year.
REPL Income Statement
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| 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 | $53.1M-8.2% | $57.9M+0.1% | $57.8M | N/A | $48.0M+10.5% | $43.4M+1.1% | $43.0M |
| SG&A Expenses | N/A | $18.7M-29.1% | $26.4M-18.9% | $32.6M | N/A | $18.0M+16.5% | $15.5M+7.5% | $14.4M |
| Operating Income | N/A | -$71.9M+14.7% | -$84.3M+6.8% | -$90.4M | N/A | -$66.0M-12.1% | -$58.9M-2.7% | -$57.4M |
| Interest Expense | N/A | $1.5M-1.5% | $1.5M+0.9% | $1.5M | N/A | $1.4M+0.8% | $1.4M+0.8% | $1.4M |
| Income Tax | N/A | -$311K | $0 | $0 | N/A | $575K | $0 | $0 |
| Net Income | N/A | -$70.9M+14.6% | -$83.1M+4.1% | -$86.7M | N/A | -$66.3M-25.0% | -$53.1M+1.3% | -$53.8M |
| EPS (Diluted) | N/A | $-0.77+14.4% | $-0.90+5.3% | $-0.95 | N/A | $-0.79-16.2% | $-0.68+12.8% | $-0.78 |
REPL Balance Sheet
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $332.4M-0.4% | $333.6M-14.3% | $389.4M-17.1% | $469.5M-14.8% | $551.3M-8.7% | $603.6M+21.2% | $498.2M-6.9% | $535.0M |
| Current Assets | $279.1M-0.4% | $280.4M-16.0% | $333.7M-19.3% | $413.4M-16.6% | $495.9M-9.4% | $547.6M+23.7% | $442.6M-7.8% | $480.3M |
| Cash & Equivalents | $209.0M+70.0% | $123.0M+20.2% | $102.3M+5.1% | $97.4M-12.4% | $111.1M-35.5% | $172.2M+51.8% | $113.5M-25.2% | $151.7M |
| 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 | $166.2M+35.1% | $123.1M-2.4% | $126.1M-5.0% | $132.8M-2.0% | $135.5M+11.7% | $121.3M+3.9% | $116.7M+7.6% | $108.5M |
| Current Liabilities | $58.2M+16.3% | $50.1M-5.3% | $52.9M-11.2% | $59.6M-4.5% | $62.4M+30.2% | $47.9M+9.4% | $43.8M+22.7% | $35.7M |
| Long-Term Debt | $83.3M+74.9% | $47.6M+0.9% | $47.2M+0.9% | $46.8M+0.9% | $46.4M+0.9% | $46.0M+0.9% | $45.6M+0.8% | $45.2M |
| Total Equity | $166.2M-21.1% | $210.5M-20.0% | $263.3M-21.8% | $336.7M-19.0% | $415.8M-13.8% | $482.4M+26.5% | $381.5M-10.6% | $426.5M |
| Retained Earnings | -$1.3B-6.2% | -$1.2B-6.3% | -$1.1B-8.0% | -$1.0B-9.1% | -$948.6M-8.5% | -$874.4M-8.2% | -$808.1M-7.0% | -$755.1M |
REPL Cash Flow Statement
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$56.2M+14.8% | -$66.0M+18.8% | -$81.2M-5.4% | -$77.0M-43.3% | -$53.7M-6.0% | -$50.7M-31.2% | -$38.6M+21.4% | -$49.2M |
| Capital Expenditures | $5K-96.3% | $135K-89.9% | $1.3M-51.0% | $2.7M+141.6% | $1.1M-37.0% | $1.8M-13.6% | $2.1M+24.9% | $1.7M |
| Free Cash Flow | -$56.2M+15.0% | -$66.1M+19.9% | -$82.6M-3.5% | -$79.8M-45.4% | -$54.9M-4.5% | -$52.5M-29.0% | -$40.7M+19.9% | -$50.8M |
| Investing Cash Flow | $86.5M+15.2% | $75.1M-10.8% | $84.2M+29.4% | $65.0M+944.8% | -$7.7M+83.4% | -$46.3M-10213.5% | $458K-98.5% | $29.8M |
| Financing Cash Flow | $55.7M+432.7% | $10.5M+3125.6% | $324K+305.1% | -$158K-19.7% | -$132K-100.1% | $155.9M+399920.5% | -$39K-100.0% | $96.6M |
| 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 |
REPL Financial Ratios
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| 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 | -33.7%-2.1pp | -31.6%-5.8pp | -25.8% | N/A | -13.8%+0.2pp | -13.9%-1.3pp | -12.6% |
| Return on Assets | N/A | -21.3%+0.1pp | -21.3%-2.9pp | -18.5% | N/A | -11.0%-0.3pp | -10.7%-0.6pp | -10.1% |
| Current Ratio | 4.79-0.8 | 5.60-0.7 | 6.31-0.6 | 6.94-1.0 | 7.95-3.5 | 11.43+1.3 | 10.11-3.4 | 13.46 |
| Debt-to-Equity | 0.50+0.3 | 0.23+0.0 | 0.18+0.0 | 0.14+0.0 | 0.11+0.0 | 0.10-0.0 | 0.12+0.0 | 0.11 |
| 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 Replimune Group profitable?
No, Replimune Group (REPL) reported a net income of -$313.9M in fiscal year 2026.
What is Replimune Group's EBITDA?
Replimune Group (REPL) had EBITDA of -$316.6M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Replimune Group have?
As of fiscal year 2026, Replimune Group (REPL) had $209.0M in cash and equivalents against $83.3M in long-term debt.
What is Replimune Group's return on equity (ROE)?
Replimune Group (REPL) has a return on equity of -188.9% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.
What is Replimune Group's free cash flow?
Replimune Group (REPL) generated -$284.6M in free cash flow during fiscal year 2026. This represents a -43.0% 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 Replimune Group's operating cash flow?
Replimune Group (REPL) generated -$280.3M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.
What are Replimune Group's total assets?
Replimune Group (REPL) had $332.4M in total assets as of fiscal year 2026, including both current and long-term assets.
What are Replimune Group's capital expenditures?
Replimune Group (REPL) invested $4.2M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.
How much does Replimune Group spend on research and development?
Replimune Group (REPL) invested $221.2M in research and development during fiscal year 2026.
What is Replimune Group's current ratio?
Replimune Group (REPL) had a current ratio of 4.79 as of fiscal year 2026, which is generally considered healthy.
What is Replimune Group's debt-to-equity ratio?
Replimune Group (REPL) had a debt-to-equity ratio of 0.50 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Replimune Group's return on assets (ROA)?
Replimune Group (REPL) had a return on assets of -94.5% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.
What is Replimune Group's cash runway?
Based on fiscal year 2026 data, Replimune Group (REPL) had $209.0M in cash against an annual operating cash burn of $280.3M. This gives an estimated cash runway of approximately 9 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 Replimune Group's Piotroski F-Score?
Replimune Group (REPL) has a Piotroski F-Score of 1 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 Replimune Group's earnings high quality?
Replimune Group (REPL) has an earnings quality ratio of 0.89x, 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 Replimune Group cover its interest payments?
Replimune Group (REPL) has an interest coverage ratio of -47.1x, 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.