What is Avidity Biosciences, Inc.'s earnings per share (EPS)?

Avidity Biosciences, Inc. (RNAM) reported diluted earnings per share of $-4.97 for fiscal year 2025. This represents a -72.0% change compared to the previous fiscal year. 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.

Avidity Biosciences, Inc. Financials

RNAM

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Avidity Biosciences, Inc. (RNAM) 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).

Financial Health Signals

Financial Profile 50/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Avidity Biosciences, Inc. has an operating margin of -3977.3%, meaning the company retains $-3977 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -3477.4% the prior year.

Growth

100

Avidity Biosciences, Inc.'s revenue surged 72.1% year-over-year to $18.8M, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

Avidity Biosciences, Inc. carries a low D/E ratio of 0.16, meaning only $0.16 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 99/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

100

With a current ratio of 9.20, Avidity Biosciences, Inc. holds $9.20 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Cash Flow

While Avidity Biosciences, Inc. generated -$650.4M in operating cash flow, capex of $13.3M consumed most of it, leaving -$663.8M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Avidity Biosciences, Inc. generates a -40.5% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -22.6% the prior year.

Piotroski F-Score Weak

2/9

Avidity Biosciences, Inc. passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Low Quality

0.95x

For every $1 of reported earnings, Avidity Biosciences, Inc. generates $0.95 in operating cash flow (-$650.4M OCF vs -$684.6M 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

$18.8M

YoY+72.1%

5Y CAGR+22.5%

Avidity Biosciences, Inc. generated $18.8M in revenue in fiscal year 2025. This represents an increase of 72.1% from the prior year.

EBITDA

-$741.8M

YoY-97.2%

Avidity Biosciences, Inc.'s EBITDA was -$741.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 97.2% from the prior year.

Net Income

-$684.6M

YoY-112.4%

Avidity Biosciences, Inc. reported -$684.6M in net income in fiscal year 2025. This represents a decrease of 112.4% from the prior year.

EPS (Diluted)

$-4.97

YoY-72.0%

Avidity Biosciences, Inc. earned $-4.97 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 72.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$663.8M

YoY-115.6%

Avidity Biosciences, Inc. generated -$663.8M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 115.6% from the prior year.

Cash & Debt

$382.5M

YoY+74.0%

5Y CAGR+3.5%

Avidity Biosciences, Inc. held $382.5M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

155M

YoY+29.1%

5Y CAGR+32.8%

Avidity Biosciences, Inc. had 155M shares outstanding in fiscal year 2025. This represents an increase of 29.1% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

-3977.3%

YoY-499.9pp

5Y CAGR-3324.9pp

Avidity Biosciences, Inc.'s operating margin was -3977.3% in fiscal year 2025, reflecting core business profitability. This is down 499.9 percentage points from the prior year.

Net Margin

-3650.4%

YoY-692.7pp

5Y CAGR-2996.9pp

Avidity Biosciences, Inc.'s net profit margin was -3650.4% in fiscal year 2025, showing the share of revenue converted to profit. This is down 692.7 percentage points from the prior year.

Return on Equity

-40.5%

YoY-17.9pp

5Y CAGR-26.1pp

Avidity Biosciences, Inc.'s ROE was -40.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 17.9 percentage points from the prior year.

Capital Allocation

R&D Spending

$559.2M

YoY+84.2%

5Y CAGR+71.6%

Avidity Biosciences, Inc. invested $559.2M in research and development in fiscal year 2025. This represents an increase of 84.2% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$13.3M

YoY+88.5%

5Y CAGR+64.9%

Avidity Biosciences, Inc. invested $13.3M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 88.5% from the prior year.

RNAM Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$18.8M+72.1%	$10.9M+14.0%	$9.6M+3.6%	$9.2M-1.1%	$9.3M+37.4%	$6.8M
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	$559.2M+84.2%	$303.6M+59.0%	$191.0M+27.0%	$150.4M+48.6%	$101.2M+169.1%	$37.6M
SG&A Expenses	$205.5M+138.3%	$86.2M+59.1%	$54.2M+43.6%	$37.7M+44.0%	$26.2M+94.6%	$13.5M
Operating Income	-$745.9M-96.9%	-$378.9M-60.8%	-$235.6M-31.7%	-$178.9M-51.6%	-$118.1M-166.6%	-$44.3M
Interest Expense	N/A	N/A	N/A	$0	$0-100.0%	$209K
Income Tax	$0	$0	$0	$0	$0	$0
Net Income	-$684.6M-112.4%	-$322.3M-51.9%	-$212.2M-22.0%	-$174.0M-47.4%	-$118.0M-166.1%	-$44.4M
EPS (Diluted)	$-4.97-72.0%	$-2.89+0.7%	$-2.91+12.9%	$-3.34-17.2%	$-2.85-39.0%	$-2.05

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$860K-93.1%	$12.5M+224.3%	$3.8M+144.6%	$1.6M-47.1%	$3.0M+27.3%	$2.3M+14.2%	$2.0M-42.3%	$3.5M
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	$166.6M+7.5%	$154.9M+12.2%	$138.1M+38.8%	$99.5M+4.0%	$95.6M+23.9%	$77.2M+20.7%	$63.9M-4.3%	$66.8M
SG&A Expenses	$88.7M+91.5%	$46.3M+25.7%	$36.9M+9.7%	$33.6M+18.6%	$28.3M+21.8%	$23.3M+12.3%	$20.7M+49.2%	$13.9M
Operating Income	-$254.5M-34.8%	-$188.8M-10.3%	-$171.1M-30.1%	-$131.5M-8.7%	-$121.0M-23.3%	-$98.1M-18.8%	-$82.6M-7.0%	-$77.2M
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	-$237.1M-35.9%	-$174.4M-10.9%	-$157.3M-35.9%	-$115.8M-13.2%	-$102.3M-27.2%	-$80.4M-13.6%	-$70.8M-2.8%	-$68.9M
EPS (Diluted)	N/A	$-1.27-5.0%	$-1.21-34.4%	$-0.90	N/A	$-0.650.0%	$-0.65+17.7%	$-0.79

RNAM Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$2.0B+25.2%	$1.6B+148.8%	$628.6M-1.6%	$638.8M+49.4%	$427.6M+28.1%	$333.9M
Current Assets	$1.8B+16.6%	$1.5B+152.3%	$611.3M-1.9%	$622.9M+51.5%	$411.1M+24.0%	$331.7M
Cash & Equivalents	$382.5M+74.0%	$219.9M+18.8%	$185.1M-45.6%	$340.4M+6.2%	$320.4M-0.3%	$321.5M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	$0-100.0%	$1.1M-53.3%	$2.4M	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$269.4M+93.9%	$138.9M+8.7%	$127.8M+110.4%	$60.7M+31.6%	$46.1M+66.8%	$27.7M
Current Liabilities	$195.4M+99.4%	$98.0M+21.5%	$80.7M+55.4%	$51.9M+75.0%	$29.7M+103.3%	$14.6M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$1.7B+18.5%	$1.4B+184.6%	$500.8M-13.4%	$578.1M+51.6%	$381.4M+24.6%	$306.2M
Retained Earnings	-$1.6B-76.7%	-$893.1M-56.5%	-$570.8M-59.2%	-$358.5M-94.3%	-$184.5M-177.4%	-$66.5M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$2.0B-8.3%	$2.1B+55.9%	$1.4B-6.2%	$1.5B-6.7%	$1.6B-4.7%	$1.6B+21.8%	$1.3B+41.6%	$951.5M
Current Assets	$1.8B-8.5%	$2.0B+57.2%	$1.3B-12.9%	$1.4B-7.0%	$1.5B-4.9%	$1.6B+22.1%	$1.3B+42.2%	$934.5M
Cash & Equivalents	$382.5M+9.2%	$350.2M+43.6%	$243.9M-4.1%	$254.2M+15.6%	$219.9M-40.6%	$370.2M-35.7%	$575.8M+22.1%	$471.4M
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	$0	$0	$0-100.0%	$1.6M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$269.4M+8.7%	$247.9M+40.7%	$176.3M+35.2%	$130.4M-6.2%	$138.9M+1.1%	$137.4M+8.7%	$126.4M+4.8%	$120.6M
Current Liabilities	$195.4M+15.1%	$169.9M+25.8%	$135.1M+59.1%	$84.9M-13.4%	$98.0M+7.3%	$91.3M+8.5%	$84.2M+12.4%	$75.0M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$1.7B-10.5%	$1.9B+58.2%	$1.2B-10.2%	$1.3B-6.8%	$1.4B-5.2%	$1.5B+23.1%	$1.2B+47.0%	$830.9M
Retained Earnings	-$1.6B-17.7%	-$1.3B-15.0%	-$1.2B-15.6%	-$1.0B-13.0%	-$893.1M-12.9%	-$790.8M-11.3%	-$710.4M-11.1%	-$639.6M

RNAM Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$650.4M-116.2%	-$300.9M-152.7%	-$119.1M+12.6%	-$136.3M-43.7%	-$94.8M-155.4%	-$37.1M
Capital Expenditures	$13.3M+88.5%	$7.1M+67.1%	$4.2M+49.8%	$2.8M-24.5%	$3.7M+242.5%	$1.1M
Free Cash Flow	-$663.8M-115.6%	-$307.9M-149.8%	-$123.3M+11.4%	-$139.1M-41.1%	-$98.6M-157.9%	-$38.2M
Investing Cash Flow	-$38.0M+95.5%	-$854.2M-556.7%	-$130.1M+31.5%	-$190.0M-130.2%	-$82.5M-959.9%	-$7.8M
Financing Cash Flow	$851.0M-28.6%	$1.2B+1170.3%	$93.9M-72.9%	$346.2M+96.3%	$176.3M-35.2%	$272.0M
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	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	-$169.8M-8.7%	-$156.2M+21.8%	-$199.7M-60.0%	-$124.8M-25.0%	-$99.9M-52.2%	-$65.6M-0.9%	-$65.0M+7.6%	-$70.4M
Capital Expenditures	$5.5M+674.0%	$712K-78.7%	$3.3M-10.9%	$3.8M-4.2%	$3.9M+129.8%	$1.7M+220.9%	$531K-42.0%	$915K
Free Cash Flow	-$175.3M-11.7%	-$156.9M+22.7%	-$203.0M-57.9%	-$128.6M-23.9%	-$103.8M-54.2%	-$67.3M-2.7%	-$65.5M+8.1%	-$71.3M
Investing Cash Flow	$207.2M+135.2%	-$587.9M-417.0%	$185.5M+18.0%	$157.2M+344.9%	-$64.2M+86.7%	-$482.4M-75.5%	-$274.9M-739.4%	-$32.7M
Financing Cash Flow	-$5.1M-100.6%	$850.4M+22438.2%	$3.8M+94.8%	$1.9M-85.9%	$13.7M-96.0%	$342.5M-23.3%	$446.7M+14.7%	$389.4M
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

RNAM 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	-3977.3%-499.9pp	-3477.4%-1013.0pp	-2464.4%-524.8pp	-1939.6%-673.8pp	-1265.8%-613.5pp	-652.4%
Net Margin	-3650.4%-692.7pp	-2957.7%-737.8pp	-2219.9%-333.5pp	-1886.3%-620.9pp	-1265.4%-611.9pp	-653.5%
Return on Equity	-40.5%-17.9pp	-22.6%+19.8pp	-42.4%-12.3pp	-30.1%+0.8pp	-30.9%-16.5pp	-14.5%
Return on Assets	-35.0%-14.4pp	-20.6%+13.2pp	-33.8%-6.5pp	-27.2%+0.4pp	-27.6%-14.3pp	-13.3%
Current Ratio	9.20-6.5	15.73+8.2	7.58-4.4	12.00-1.9	13.86-8.9	22.74
Debt-to-Equity	0.16+0.1	0.10-0.2	0.26+0.2	0.10-0.0	0.12+0.0	0.09
FCF Margin	-3539.1%-713.2pp	-2825.9%-1536.2pp	-1289.7%+218.3pp	-1507.9%-451.2pp	-1056.8%-493.8pp	-563.0%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-29590.5%-28077.0pp	-1513.5%+2935.2pp	-4448.7%+3912.2pp	-8360.9%-4291.3pp	-4069.6%+131.3pp	-4200.9%-160.5pp	-4040.4%-1861.8pp	-2178.6%
Net Margin	-27569.9%-26171.6pp	-1398.3%+2691.0pp	-4089.3%+3270.7pp	-7360.0%-3920.5pp	-3439.5%+2.2pp	-3441.7%+20.1pp	-3461.8%-1518.4pp	-1943.4%
Return on Equity	-14.0%-4.8pp	-9.3%+3.9pp	-13.2%-4.5pp	-8.7%-1.5pp	-7.2%-1.8pp	-5.3%+0.5pp	-5.8%+2.5pp	-8.3%
Return on Assets	-12.1%-3.9pp	-8.2%+3.3pp	-11.5%-3.6pp	-7.9%-1.4pp	-6.5%-1.6pp	-4.9%+0.3pp	-5.3%+2.0pp	-7.2%
Current Ratio	9.20-2.4	11.57+2.3	9.26-7.6	16.91+1.2	15.73-2.0	17.76+2.0	15.78+3.3	12.47
Debt-to-Equity	0.16+0.0	0.13-0.0	0.15+0.0	0.100.0	0.100.0	0.09-0.0	0.10-0.0	0.15
FCF Margin	-20381.9%-19124.3pp	-1257.6%+4019.5pp	-5277.1%+2897.3pp	-8174.3%-4683.3pp	-3491.0%-609.2pp	-2881.8%+322.8pp	-3204.7%-1192.4pp	-2012.3%

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, with a net profit margin of -3650.4%.

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 operating margin?

Avidity Biosciences, Inc. (RNAM) had an operating margin of -3977.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Avidity Biosciences, Inc.'s net profit margin?

Avidity Biosciences, Inc. (RNAM) had a net profit margin of -3650.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

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) generated -$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) generated -$650.4M in operating cash flow during fiscal year 2025, representing cash generated from 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.

How many shares does Avidity Biosciences, Inc. have outstanding?

Avidity Biosciences, Inc. (RNAM) had 155M shares outstanding as of 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.

What is Avidity Biosciences, Inc.'s cash runway?

Based on fiscal year 2025 data, Avidity Biosciences, Inc. (RNAM) had $382.5M in cash against an annual operating cash burn of $650.4M. This gives an estimated cash runway of approximately 7 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 Avidity Biosciences, Inc.'s Piotroski F-Score?

Avidity Biosciences, Inc. (RNAM) 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 Avidity Biosciences, Inc.'s earnings high quality?

Avidity Biosciences, Inc. (RNAM) has an earnings quality ratio of 0.95x, 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.

How financially healthy is Avidity Biosciences, Inc.?

Avidity Biosciences, Inc. (RNAM) scores 50 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.