Soleno Therapeutics Inc Financials
Soleno Therapeutics Inc (SLNO) reported $190.4M in revenue for fiscal year 2025. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 13 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).
Soleno’s dominant mechanic is a sudden shift from equity-funded R&D burn to high-margin revenue and cash generation.
FY2025 reads as a business-model pivot, not a normal margin uptick: after four years with no reported revenue and cash-funded R&D burn, Soleno moved from-$69.1M of operating cash flow in FY2024 to$190.4M of revenue, a98.6% gross margin, and$46.8M of operating cash flow in FY2025. Because capital spending was only$73K , that cash generation looks light to maintain from a fixed-investment standpoint, even with SG&A still at$132.1M .
The balance sheet shows how the pre-revenue period was financed: financing inflows of
The expense mix changed in a way a one-year reader could miss: R&D fell from
Financial Health Signals
Scored against operating 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 Soleno Therapeutics 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.
Soleno Therapeutics Inc has an operating margin of 4.9%, meaning the company retains $5 of operating profit per $100 of revenue. This results in a moderate score of 55/100, indicating healthy but not exceptional operating efficiency.
Not available for Soleno Therapeutics Inc, and counted as zero in the overall score.
Soleno Therapeutics Inc carries a low D/E ratio of 0.11, meaning only $0.11 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 98/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 5.80, Soleno Therapeutics Inc holds $5.80 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 92/100.
Soleno Therapeutics Inc converts 24.5% of revenue into free cash flow ($46.7M). This strong cash generation earns a score of 91/100.
Soleno Therapeutics Inc's ROE of 4.6% shows moderate profitability relative to equity, earning a score of 41/100. This is up from -71.7% the prior year.
Soleno Therapeutics Inc scores 14.53, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($2.8B) relative to total liabilities ($113.7M). 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.
Soleno Therapeutics Inc passes 5 of 7 computable financial strength tests (2 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass.
For every $1 of reported earnings, Soleno Therapeutics Inc generates $2.24 in operating cash flow ($46.8M OCF vs $20.9M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Soleno Therapeutics Inc earns $1.72 in operating income for every $1 of interest expense ($9.4M vs $5.5M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Soleno Therapeutics Inc generated $190.4M in revenue in fiscal year 2025.
Soleno Therapeutics Inc's EBITDA was $11.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 106.2% from the prior year.
Soleno Therapeutics Inc reported $20.9M in net income in fiscal year 2025. This represents an increase of 111.9% from the prior year.
Soleno Therapeutics Inc earned $0.39 per diluted share (EPS) in fiscal year 2025. This represents an increase of 108.9% from the prior year.
Cash & Balance Sheet
Soleno Therapeutics Inc generated $46.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 167.4% from the prior year.
Soleno Therapeutics Inc held $70.1M in cash against $49.9M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Soleno Therapeutics Inc's gross margin was 98.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs.
Soleno Therapeutics Inc's operating margin was 4.9% in fiscal year 2025, reflecting core business profitability.
Soleno Therapeutics Inc's net profit margin was 11.0% in fiscal year 2025, showing the share of revenue converted to profit.
Soleno Therapeutics Inc's ROE was 4.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 76.4 percentage points from the prior year.
Capital Allocation
Soleno Therapeutics Inc invested $40.6M in research and development in fiscal year 2025. This represents a decrease of 48.3% from the prior year.
Soleno Therapeutics Inc spent $100.1M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
Soleno Therapeutics Inc invested $73K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 66.5% from the prior year.
SLNO Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | $190.4M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $1.5M+138.8% | $607K | $0-100.0% | $3.0M |
| Cost of Revenue | N/A | $2.7M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $1.5M+327.9% | $353K | $0 | N/A |
| Gross Profit | N/A | $187.7M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -$59K-123.0% | $255K | $0 | N/A |
| R&D Expenses | N/A | $40.6M-48.3% | $78.6M+211.9% | $25.2M+65.0% | $15.3M-28.8% | $21.5M-7.5% | $23.2M+42.6% | $16.3M+126.6% | $7.2M+133.9% | $3.1M+36.6% | $2.2M-50.5% | $4.5M+102.3% | $2.2M-5.8% | $2.4M |
| SG&A Expenses | N/A | $132.1M+24.8% | $105.9M+685.3% | $13.5M+36.9% | $9.8M-8.9% | $10.8M+23.4% | $8.8M+26.4% | $6.9M+5.7% | $6.6M-0.4% | $6.6M+8.3% | $6.1M-1.0% | $6.1M+130.4% | $2.7M+81.7% | $1.5M |
| Operating Income | N/A | $9.4M+105.0% | -$187.7M-353.5% | -$41.4M-69.6% | -$24.4M+22.6% | -$31.5M+13.1% | -$36.3M-54.5% | -$23.5M-64.2% | -$14.3M-17.5% | -$12.2M-46.2% | -$8.3M+31.5% | -$12.2M-135.7% | -$5.2M-509.3% | -$847K |
| Interest Expense | N/A | $5.5M+2270.6% | $231K | $0 | $0 | N/A | N/A | N/A | N/A | N/A | N/A | $0-100.0% | $4.1M+44.4% | $2.9M |
| Income Tax | N/A | $0 | $0 | $0 | N/A | N/A | N/A | N/A | $0+100.0% | -$1.6M | $0 | $0 | $0 | $0 |
| Net Income | N/A | $20.9M+111.9% | -$175.8M-351.0% | -$39.0M-62.0% | -$24.1M+22.1% | -$30.9M-25.5% | -$24.6M+19.9% | -$30.8M-130.8% | -$13.3M+13.3% | -$15.4M-27.5% | -$12.1M+24.2% | -$15.9M-20.2% | -$13.2M-257.1% | -$3.7M |
| EPS (Diluted) | — | $0.39+108.9% | -$4.38 | -$2.36 | -$2.87 | -$5.81 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
TTM is the trailing twelve months, Q2 FY2025 through Q1 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
SLNO Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $563.8M+70.4% | $331.0M+83.2% | $180.7M+581.9% | $26.5M-25.5% | $35.6M-45.3% | $65.0M+70.2% | $38.2M-11.5% | $43.2M+10.6% | $39.0M+601.2% | $5.6M-32.1% | $8.2M-2.3% | $8.4M+429.1% | $1.6M |
| Current Assets | $355.8M+21.1% | $293.9M+71.5% | $171.4M+995.1% | $15.6M-30.2% | $22.4M-55.4% | $50.2M+137.6% | $21.1M-14.3% | $24.7M+37.1% | $18.0M+373.4% | $3.8M-40.6% | $6.4M-23.2% | $8.3M+447.3% | $1.5M |
| Cash & Equivalents | $70.1M-20.3% | $87.9M-48.2% | $169.7M+1062.0% | $14.6M-31.5% | $21.3M-56.7% | $49.2M+137.4% | $20.7M-10.2% | $23.1M+35.1% | $17.1M+527.3% | $2.7M-50.4% | $5.5M-30.9% | $8.0M+527.1% | $1.3M |
| Inventory | $15.0M | N/A | N/A | N/A | N/A | N/A | N/A | $0-100.0% | $177K | $0-100.0% | $551K+404.0% | $109K | N/A |
| Accounts Receivable | $28.2M | N/A | N/A | N/A | N/A | N/A | N/A | $0 | N/A | $3K-98.1% | $156K | $0-100.0% | $150K |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $718K-21.7% | $917K | $0 | N/A |
| Total Liabilities | $113.7M+32.4% | $85.9M+270.3% | $23.2M+43.6% | $16.1M-9.1% | $17.8M-8.6% | $19.4M-16.3% | $23.2M+82.3% | $12.7M+4.4% | $12.2M+473.1% | $2.1M-57.2% | $5.0M-74.6% | $19.6M-45.3% | $35.8M |
| Current Liabilities | $61.4M+227.3% | $18.7M+62.9% | $11.5M+57.3% | $7.3M-8.7% | $8.0M-7.1% | $8.6M+73.6% | $5.0M+164.5% | $1.9M+8.3% | $1.7M+1.5% | $1.7M-46.5% | $3.2M+147.5% | $1.3M-90.9% | $14.2M |
| Long-Term Debt | $49.9M+0.1% | $49.8M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $450.1M+83.6% | $245.1M+55.6% | $157.5M+1422.1% | $10.3M-41.8% | $17.8M-60.9% | $45.5M+204.7% | $14.9M-50.9% | $30.4M+13.4% | $26.8M+680.7% | $3.4M+6.6% | $3.2M+128.8% | -$11.2M+67.3% | -$34.2M |
| Retained Earnings | -$431.4M+4.6% | -$452.3M-63.6% | -$276.4M-16.4% | -$237.4M-11.3% | -$213.4M-16.9% | -$182.4M-15.6% | -$157.8M-24.2% | -$127.0M-11.7% | -$113.7M-15.6% | -$98.3M-14.0% | -$86.2M-22.6% | -$70.3M-23.2% | -$57.1M |
SLNO Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $105.5M | $46.8M+167.7% | -$69.1M-177.0% | -$24.9M-20.0% | -$20.8M+25.2% | -$27.8M-10.1% | -$25.2M-45.2% | -$17.4M-48.7% | -$11.7M-17.4% | -$9.9M+26.3% | -$13.5M-31.1% | -$10.3M-129.7% | -$4.5M-406.6% | -$885K |
| Capital Expenditures | $108K | $73K-66.5% | $218K | $0-100.0% | $13K-40.9% | $22K+214.3% | $7K-66.7% | $21K+162.5% | $8K+300.0% | $2K-86.5% | $15K-73.5% | $56K+81.8% | $31K+2308.4% | $1K |
| Free Cash Flow | $105.4M | $46.7M+167.4% | -$69.3M-177.9% | -$24.9M-19.9% | -$20.8M+25.2% | -$27.8M-10.2% | -$25.2M-45.0% | -$17.4M-48.8% | -$11.7M-17.5% | -$10.0M+26.4% | -$13.5M-30.5% | -$10.4M-129.3% | -$4.5M-409.3% | -$886K |
| Investing Cash Flow | -$186.7M | -$201.8M+10.6% | -$225.7M | $0+100.0% | -$13K+40.9% | -$22K-214.3% | -$7K-101.3% | $528K+393.3% | -$180K-216.9% | $154K+498.1% | -$39K+97.1% | -$1.3M-4204.6% | -$31K | N/A |
| Financing Cash Flow | $132.9M | $137.2M-35.6% | $213.0M+18.3% | $180.0M+1177.5% | $14.1M+11109.4% | -$128K-100.2% | $53.7M+271.0% | $14.5M-18.8% | $17.8M-26.2% | $24.2M+124.5% | $10.8M+17.6% | $9.2M-18.3% | $11.2M | N/A |
| Share Buybacks | N/A | $100.1M | $0 | $0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Dividends Paid.
TTM is the trailing twelve months, Q2 FY2025 through Q1 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
SLNO Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 98.6% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -4.0%-46.0pp | 41.9% | N/A | N/A |
| Operating Margin | 4.9% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -573.8% | -2001.7% | N/A | -28.2% |
| Net Margin | 11.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -831.6% | -2618.8% | N/A | -123.6% |
| Return on Equity | 4.6%+76.4pp | -71.7%-47.0pp | -24.8%+207.8pp | -232.6%-58.9pp | -173.7%-119.6pp | -54.1%+151.8pp | -205.9%-162.0pp | -43.9%+13.5pp | -57.4%+293.9pp | -351.2%+142.2pp | -493.5% | N/A | N/A |
| Return on Assets | 3.7%+56.8pp | -53.1%-31.6pp | -21.6%+69.3pp | -90.8%-3.9pp | -86.9%-49.0pp | -37.9%+42.7pp | -80.6%-49.7pp | -30.9%+8.5pp | -39.4%+177.4pp | -216.8%-22.8pp | -194.0%-36.3pp | -157.7%+76.0pp | -233.7% |
| Current Ratio | 5.80-9.9x | 15.68+0.8x | 14.89+12.8x | 2.14-0.7x | 2.80-3.0x | 5.83+1.6x | 4.26-8.9x | 13.14+2.8x | 10.38+8.2x | 2.23+0.2x | 2.01-4.5x | 6.46+6.4x | 0.11 |
| Debt-to-Equity | 0.11-0.1x | 0.20+0.1x | 0.15-1.4x | 1.56+0.6x | 1.00+0.6x | 0.43-1.1x | 1.55+1.1x | 0.420.0x | 0.46-0.2x | 0.62-0.9x | 1.54 | N/A | N/A |
| FCF Margin | 24.5% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -931.4% | -1704.6% | N/A | -29.5% |
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.
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Where Soleno Therapeutics Inc Ranks
Frequently Asked Questions
What is Soleno Therapeutics Inc's annual revenue?
Soleno Therapeutics Inc (SLNO) reported $190.4M in total revenue for fiscal year 2025. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Is Soleno Therapeutics Inc profitable?
Yes, Soleno Therapeutics Inc (SLNO) reported a net income of $20.9M in fiscal year 2025, with a net profit margin of 11.0%.
What is Soleno Therapeutics Inc's EBITDA?
Soleno Therapeutics Inc (SLNO) had EBITDA of $11.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Soleno Therapeutics Inc have?
As of fiscal year 2025, Soleno Therapeutics Inc (SLNO) had $70.1M in cash and equivalents against $49.9M in long-term debt.
What is Soleno Therapeutics Inc's gross margin?
Soleno Therapeutics Inc (SLNO) had a gross margin of 98.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Soleno Therapeutics Inc's operating margin?
Soleno Therapeutics Inc (SLNO) had an operating margin of 4.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Soleno Therapeutics Inc's net profit margin?
Soleno Therapeutics Inc (SLNO) had a net profit margin of 11.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Soleno Therapeutics Inc's return on equity (ROE)?
Soleno Therapeutics Inc (SLNO) has a return on equity of 4.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Soleno Therapeutics Inc's free cash flow?
Soleno Therapeutics Inc (SLNO) generated $46.7M in free cash flow during fiscal year 2025. This represents a 167.4% 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 Soleno Therapeutics Inc's operating cash flow?
Soleno Therapeutics Inc (SLNO) generated $46.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Soleno Therapeutics Inc's total assets?
Soleno Therapeutics Inc (SLNO) had $563.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Soleno Therapeutics Inc's capital expenditures?
Soleno Therapeutics Inc (SLNO) invested $73K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Soleno Therapeutics Inc spend on research and development?
Soleno Therapeutics Inc (SLNO) invested $40.6M in research and development during fiscal year 2025.
What is Soleno Therapeutics Inc's current ratio?
Soleno Therapeutics Inc (SLNO) had a current ratio of 5.80 as of fiscal year 2025, which is generally considered healthy.
What is Soleno Therapeutics Inc's debt-to-equity ratio?
Soleno Therapeutics Inc (SLNO) had a debt-to-equity ratio of 0.11 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Soleno Therapeutics Inc's return on assets (ROA)?
Soleno Therapeutics Inc (SLNO) had a return on assets of 3.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Soleno Therapeutics Inc's Altman Z-Score?
Soleno Therapeutics Inc (SLNO) has an Altman Z-Score of 14.53, 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 Soleno Therapeutics Inc's Piotroski F-Score?
Soleno Therapeutics Inc (SLNO) has a Piotroski F-Score of 5 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 Soleno Therapeutics Inc's earnings high quality?
Soleno Therapeutics Inc (SLNO) has an earnings quality ratio of 2.24x, considered cash-backed (high quality). 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 Soleno Therapeutics Inc cover its interest payments?
Soleno Therapeutics Inc (SLNO) has an interest coverage ratio of 1.72x, 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.
How financially healthy is Soleno Therapeutics Inc?
Soleno Therapeutics Inc (SLNO) scores 63 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), 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.