Avidity Biosciences, Inc. (RNAM) Financials
Newest figures come from the 10-K for FY2025, filed Feb 23, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the RNAM SEC filings page.
Avidity Biosciences, Inc. (RNAM) reported $18.8M in revenue for fiscal year 2025, up 72.1% from the prior fiscal year. This page shows its 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).
Avidity's dominant mechanic is development-stage capital deployment: R&D and cash consumption expand far faster than reported revenue.
Revenue rose72.1% in FY2025, yet operating cash flow reached-$650M ; the widening gap indicates development spending, not sales, sets cash needs. R&D investment was$559M against$18.8M of revenue, so reported growth remained economically secondary to pipeline investment.
Debt-to-equity was 0.2x in FY2025, making leverage a smaller constraint than operating investment. Total liabilities of
External financing provided
Financial Health Signals
Scored against emerging 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 Avidity Biosciences, 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.
Avidity Biosciences, Inc. held $1.7B in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $650.4M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Avidity Biosciences, Inc. scores 57/100 among other emerging companies.
Avidity Biosciences, Inc. had 155M shares outstanding at the end of fiscal year 2025, against 120M in fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Avidity Biosciences, Inc. scores 22/100 among other emerging companies.
Avidity Biosciences, Inc. spent $559.2M on research and development in fiscal year 2025, which was 73.1% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Avidity Biosciences, Inc. scores 93/100 among other emerging companies.
Avidity Biosciences, Inc. reported revenue of $18.8M in fiscal year 2025, against $10.9M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Avidity Biosciences, Inc. scores 76/100 among other emerging companies.
Avidity Biosciences, Inc.'s operations used $650.4M of cash in fiscal year 2025, against $300.9M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Avidity Biosciences, Inc. scores 5/100 among other emerging companies.
Avidity Biosciences, Inc.'s cash, cash equivalents and investments came to $1.7B at the end of fiscal year 2025, against $269.4M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Avidity Biosciences, Inc. scores 91/100 among other emerging companies.
Avidity Biosciences, Inc. scores 23.66, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($11.2B) relative to total liabilities ($269.4M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Avidity Biosciences, Inc. passes 2 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), both operating efficiency signals pass.
Avidity Biosciences, Inc. reported a net loss of $684.6M while operations used $650.4M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Avidity Biosciences, Inc. generated $860K in revenue in Q4 2025. This represents a decrease of 71.1% from the same quarter a year earlier. Against the prior quarter it is down 93.1%.
Avidity Biosciences, Inc.'s EBITDA was -$253.0M in Q4 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 110.4% from the same quarter a year earlier. Against the prior quarter it is down 34.8%.
Avidity Biosciences, Inc. reported -$237.1M in net income in Q4 2025. This represents a decrease of 131.9% from the same quarter a year earlier. Against the prior quarter it is down 35.9%.
Avidity Biosciences, Inc. earned -$1.59 per diluted share (EPS) in Q4 2025. This represents a decrease of 96.3% from the same quarter a year earlier. Against the prior quarter it is down 25.2%.
Cash & Balance Sheet
Avidity Biosciences, Inc. recorded an outflow of $175.3M in free cash flow in Q4 2025, representing a cash shortfall after capex. This represents a decrease of 68.9% from the same quarter a year earlier. Against the prior quarter it is down 11.7%.
Avidity Biosciences, Inc. held $382.5M in cash as of Q4 2025; long-term debt is not reported for that period.
Not reported for Q4 2025.
Margins & Returns
Avidity Biosciences, Inc.'s ROE was -14.0% in Q4 2025, measuring profit generated per dollar of shareholder equity. This is down 6.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 4.8 percentage points.
Not reported for Q4 2025.
Not shown for Q4 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q4 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Avidity Biosciences, Inc. invested $166.6M in research and development in Q4 2025. This represents an increase of 74.2% from the same quarter a year earlier. Against the prior quarter it is up 7.5%.
Avidity Biosciences, Inc. invested $5.5M in capex in Q4 2025, funding long-term assets and infrastructure. This represents an increase of 40.7% from the same quarter a year earlier. Against the prior quarter it is up 674.0%.
Not reported for Q4 2025.
RNAM Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $860K-71.1% | $12.5M+434.0% | $3.8M+88.1% | $1.6M-55.6% | $3.0M+35.6% | $2.3M-17.1% | $2.0M-11.7% | $3.5M+58.7% |
| R&D Expenses | $166.6M+74.2% | $154.9M+100.7% | $138.1M+116.0% | $99.5M+48.9% | $95.6M+81.0% | $77.2M+61.8% | $63.9M+49.8% | $66.8M+39.9% |
| SG&A Expenses | $88.7M+213.2% | $46.3M+99.1% | $36.9M+77.8% | $33.6M+141.8% | $28.3M+75.8% | $23.3M+69.5% | $20.7M+68.8% | $13.9M+15.2% |
| Operating Income | -$254.5M-110.3% | -$188.8M-92.4% | -$171.1M-107.1% | -$131.5M-70.4% | -$121.0M-81.3% | -$98.1M-67.4% | -$82.6M-57.0% | -$77.2M-34.0% |
| EBITDA | -$253.0M-110.4% | -$187.7M-92.6% | -$170.3M-107.9% | -$130.7M-70.8% | -$120.3M-81.8% | -$97.4M-67.9% | -$81.9M-57.1% | -$76.5M-33.8% |
| Net Income | -$237.1M-131.9% | -$174.4M-117.0% | -$157.3M-122.2% | -$115.8M-68.1% | -$102.3M-69.2% | -$80.4M-53.6% | -$70.8M-50.5% | -$68.9M-31.4% |
| EPS (Basic) | -$1.59-96.3% | -$1.27-95.4% | -$1.21-86.2% | -$0.90-13.9% | -$0.81-1.3% | -$0.65+8.5% | -$0.65+1.5% | -$0.79-6.8% |
| EPS (Diluted) | -$1.59-96.3% | -$1.27-95.4% | -$1.21-86.2% | -$0.90-13.9% | -$0.81 | -$0.65 | -$0.65 | -$0.79-6.8% |
| Diluted Shares (Avg) | N/A | 138M+11.8% | 130M+21.2% | 129M+48.2% | N/A | 123M | 107M | 87M+23.8% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, Interest Expense, Income Tax.
RNAM Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.0B+25.2% | $2.1B+30.1% | $1.4B+1.6% | $1.5B+53.3% | $1.6B+148.8% | $1.6B+186.3% | $1.3B+120.6% | $951.5M+55.0% |
| Current Assets | $1.8B+16.6% | $2.0B+21.2% | $1.3B-5.9% | $1.4B+53.6% | $1.5B+152.3% | $1.6B+192.0% | $1.3B+123.5% | $934.5M+56.5% |
| Cash & Equivalents | $382.5M+74.0% | $350.2M-5.4% | $243.9M-57.6% | $254.2M-46.1% | $219.9M+18.8% | $370.2M+332.2% | $575.8M+274.2% | $471.4M+297.1% |
| Short-Term Investments | $1.3B+2.6% | $1.5B+25.2% | $939.2M+29.9% | $1.1B+153.3% | $1.3B+212.4% | $1.2B+166.6% | $723.3M+71.1% | $444.5M-4.9% |
| Accounts Receivable | N/A | N/A | N/A | N/A | $0-100.0% | $0 | $0-100.0% | $1.6M |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $269.4M+93.9% | $247.9M+80.5% | $176.3M+39.5% | $130.4M+8.1% | $138.9M+8.7% | $137.4M+146.7% | $126.4M+144.9% | $120.6M+119.0% |
| Current Liabilities | $195.4M+99.4% | $169.9M+86.0% | $135.1M+60.4% | $84.9M+13.2% | $98.0M+21.5% | $91.3M+87.5% | $84.2M+86.1% | $75.0M+55.9% |
| Non-Current Liabilities | $74.0M+80.9% | $78.1M+69.5% | $41.2M-2.3% | $45.5M-0.3% | $40.9M-13.1% | $46.1M+560.0% | $42.2M+563.0% | $45.6M+554.0% |
| Total Equity | $1.7B+18.5% | $1.9B+25.5% | $1.2B-2.3% | $1.3B+59.9% | $1.4B+184.6% | $1.5B+190.5% | $1.2B+118.4% | $830.9M+48.7% |
| Retained Earnings | -$1.6B-76.7% | -$1.3B-69.5% | -$1.2B-64.2% | -$1.0B-57.7% | -$893.1M-56.5% | -$790.8M-55.0% | -$710.4M-55.1% | -$639.6M-55.6% |
Not reported in any period shown, so not listed: Inventory, Goodwill, Long-Term Debt.
RNAM Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$169.8M-70.0% | -$156.2M-138.0% | -$199.7M-207.2% | -$124.8M-77.4% | -$99.9M-705.2% | -$65.6M-78.3% | -$65.0M-30.5% | -$70.4M-43.7% |
| Depreciation & Amortization | $1.5M+102.7% | $1.1M+57.1% | $800K+14.3% | $785K+22.5% | $738K+20.0% | $700K+16.7% | $700K+40.0% | $641K+63.9% |
| Stock-Based Compensation | N/A | $19.0M+35.0% | $17.7M+37.8% | $17.7M+72.1% | N/A | $14.1M+43.5% | $12.8M+35.5% | $10.3M+13.2% |
| Capital Expenditures | $5.5M+40.7% | $712K-58.2% | $3.3M+529.6% | $3.8M+310.2% | $3.9M+353.8% | $1.7M+84.6% | $531K-14.6% | $915K-49.7% |
| Free Cash Flow | -$175.3M-68.9% | -$156.9M-133.0% | -$203.0M-209.8% | -$128.6M-80.4% | -$103.8M-763.7% | -$67.3M-78.5% | -$65.5M-30.0% | -$71.3M-40.4% |
| Investing Cash Flow | $207.2M+422.9% | -$587.9M-21.9% | $185.5M+167.5% | $157.2M+580.0% | -$64.2M-225.7% | -$482.4M-1432.5% | -$274.9M-696.9% | -$32.7M+83.3% |
| Financing Cash Flow | -$5.1M-137.1% | $850.4M+148.3% | $3.8M-99.2% | $1.9M-99.5% | $13.7M-57.0% | $342.5M+856060.0% | $446.7M+1046.3% | $389.4M+1596.1% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
RNAM Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | -29590.5% | -1513.5% | -4448.7% | -8360.9% | -4069.6% | -4200.9% | -4040.4% | -2178.6% |
| Net Margin | -27569.9% | -1398.3% | -4089.3% | -7360.0% | -3439.5% | -3441.7% | -3461.8% | -1943.4% |
| Return on Equity | -14.0%-6.9pp | -9.3%-3.9pp | -13.2%-7.4pp | -8.7%-0.4pp | -7.2%+4.9pp | -5.3%+4.8pp | -5.8%+2.6pp | -8.3%+1.1pp |
| Return on Assets | -12.1%-5.6pp | -8.2%-3.3pp | -11.5%-6.2pp | -7.9%-0.7pp | -6.5%+3.1pp | -4.9%+4.2pp | -5.3%+2.5pp | -7.2%+1.3pp |
| Current Ratio | 9.20-6.5x | 11.57-6.2x | 9.26-6.5x | 16.91+4.4x | 15.73+8.2x | 17.76+6.4x | 15.78+2.6x | 12.470.0x |
| Debt-to-Equity | 0.16+0.1x | 0.130.0x | 0.150.0x | 0.100.0x | 0.10-0.2x | 0.090.0x | 0.100.0x | 0.150.0x |
| Asset Turnover | 0.000.0x | 0.010.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x |
| FCF Margin | -20381.9% | -1257.6% | -5277.1% | -8174.3% | -3491.0% | -2881.8% | -3204.7% | -2012.3% |
Not reported in any period shown, so not listed: Gross Margin.
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.
Where Avidity Biosciences, Inc. Ranks
Frequently Asked Questions
What is Avidity Biosciences, Inc.'s annual revenue?
Avidity Biosciences, Inc. (RNAM) reported $18.8M in total revenue for fiscal year 2025. This represents a 72.1% 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 Avidity Biosciences, Inc.'s revenue growing?
Avidity Biosciences, Inc. (RNAM) revenue grew by 72.1% year-over-year, from $10.9M to $18.8M in fiscal year 2025.
Is Avidity Biosciences, Inc. profitable?
No, Avidity Biosciences, Inc. (RNAM) reported a net income of -$684.6M in fiscal year 2025.
What is Avidity Biosciences, Inc.'s EBITDA?
Avidity Biosciences, Inc. (RNAM) had EBITDA of -$741.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Avidity Biosciences, Inc.'s return on equity (ROE)?
Avidity Biosciences, Inc. (RNAM) has a return on equity of -40.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Avidity Biosciences, Inc.'s free cash flow?
Avidity Biosciences, Inc. (RNAM) recorded an outflow of $663.8M in free cash flow during fiscal year 2025. This represents a -115.6% 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 Avidity Biosciences, Inc.'s operating cash flow?
Avidity Biosciences, Inc. (RNAM) recorded an outflow of $650.4M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Avidity Biosciences, Inc.'s total assets?
Avidity Biosciences, Inc. (RNAM) had $2.0B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Avidity Biosciences, Inc.'s capital expenditures?
Avidity Biosciences, Inc. (RNAM) invested $13.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Avidity Biosciences, Inc. spend on research and development?
Avidity Biosciences, Inc. (RNAM) invested $559.2M in research and development during fiscal year 2025.
What is Avidity Biosciences, Inc.'s current ratio?
Avidity Biosciences, Inc. (RNAM) had a current ratio of 9.20 as of fiscal year 2025, which is generally considered healthy.
What is Avidity Biosciences, Inc.'s debt-to-equity ratio?
Avidity Biosciences, Inc. (RNAM) had a debt-to-equity ratio of 0.16 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Avidity Biosciences, Inc.'s return on assets (ROA)?
Avidity Biosciences, Inc. (RNAM) had a return on assets of -35.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
How does Avidity Biosciences, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Avidity Biosciences, Inc. (RNAM) held $1.7B in cash, cash equivalents and investments, and reported an operating cash outflow of $650.4M over that year. Dividing the one by the other, the reported balance equals about 31 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 Avidity Biosciences, Inc.'s Altman Z-Score?
Avidity Biosciences, Inc. (RNAM) has an Altman Z-Score of 23.66, placing it in the Safe Zone (low 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 Avidity Biosciences, Inc.'s Piotroski F-Score?
Avidity Biosciences, Inc. (RNAM) has a Piotroski F-Score of 2 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 Avidity Biosciences, Inc.'s earnings high quality?
Avidity Biosciences, Inc. (RNAM) reported a net loss of $684.6M while operations used $650.4M 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.
How financially healthy is Avidity Biosciences, Inc.?
Avidity Biosciences, Inc. (RNAM) scores 57 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), 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.