Sonnet Biotherapeutc Hldng Inc Financials

SONN

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE September

Financial Health Signals

Financial Profile 74/100

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

Profitability

Sonnet Biotherapeutc Hldng Inc has an operating margin of -1584.4%, meaning the company retains $-1584 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 up from -63617.9% the prior year.

Growth

100

Sonnet Biotherapeutc Hldng Inc's revenue surged 5268.8% year-over-year to $1.0M, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

Sonnet Biotherapeutc Hldng Inc carries a low D/E ratio of 0.38, meaning only $0.38 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 97/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

100

With a current ratio of 3.50, Sonnet Biotherapeutc Hldng Inc holds $3.50 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Piotroski F-Score Neutral

4/9

Sonnet Biotherapeutc Hldng Inc passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Low Quality

0.80x

For every $1 of reported earnings, Sonnet Biotherapeutc Hldng Inc generates $0.80 in operating cash flow (-$12.8M OCF vs -$16.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

This page shows Sonnet Biotherapeutc Hldng Inc (SONN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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).

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Key Financial Metrics

Revenue

$1.0M

YoY+5268.8%

10Y CAGR-30.0%

Sonnet Biotherapeutc Hldng Inc generated $1.0M in revenue in fiscal year 2025. This represents an increase of 5268.8% from the prior year.

EBITDA

-$15.8M

YoY-33.8%

Sonnet Biotherapeutc Hldng Inc's EBITDA was -$15.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 33.8% from the prior year.

Free Cash Flow

N/A

Net Income

-$16.0M

YoY-115.3%

Sonnet Biotherapeutc Hldng Inc reported -$16.0M in net income in fiscal year 2025. This represents a decrease of 115.3% from the prior year.

EPS (Diluted)

$-3.95

YoY+65.2%

Sonnet Biotherapeutc Hldng Inc earned $-3.95 per diluted share (EPS) in fiscal year 2025. This represents an increase of 65.2% from the prior year.

Cash & Debt

$5.1M

YoY+3325.9%

5Y CAGR-7.0%

10Y CAGR+12.9%

Sonnet Biotherapeutc Hldng Inc held $5.1M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

YoY+988.3%

Sonnet Biotherapeutc Hldng Inc had 7M shares outstanding in fiscal year 2025. This represents an increase of 988.3% from the prior year.

Gross Margin

N/A

Operating Margin

-1584.4%

YoY+62033.5pp

10Y CAGR-1570.0pp

Sonnet Biotherapeutc Hldng Inc's operating margin was -1584.4% in fiscal year 2025, reflecting core business profitability. This is up 62033.5 percentage points from the prior year.

Net Margin

-1601.2%

YoY+38328.2pp

10Y CAGR-1566.8pp

Sonnet Biotherapeutc Hldng Inc's net profit margin was -1601.2% in fiscal year 2025, showing the share of revenue converted to profit. This is up 38328.2 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

$8.4M

YoY+45.6%

5Y CAGR-3.3%

Sonnet Biotherapeutc Hldng Inc invested $8.4M in research and development in fiscal year 2025. This represents an increase of 45.6% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

SONN Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$1.0M+5268.8%	$19K-87.4%	$148K-57.8%	$350K-27.6%	$484K	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	$8.4M+45.6%	$5.7M-51.4%	$11.8M-44.9%	$21.4M+28.9%	$16.6M+68.4%	$9.9M
SG&A Expenses	$8.5M+38.5%	$6.1M-14.0%	$7.1M-16.9%	$8.6M-4.0%	$8.9M+18.6%	$7.5M
Operating Income	-$15.8M-33.7%	-$11.8M+36.9%	-$18.8M+36.7%	-$29.7M-18.3%	-$25.1M-3.5%	-$24.2M
Interest Expense	N/A	N/A	N/A	N/A	N/A	$21K
Income Tax	$218K	N/A	N/A	N/A	N/A	N/A
Net Income	-$16.0M-115.3%	-$7.4M+60.5%	-$18.8M+36.6%	-$29.7M-19.0%	-$25.0M-3.0%	-$24.3M
EPS (Diluted)	$-3.95+65.2%	$-11.35+92.2%	$-145.13+3.6%	$-150.52	N/A	N/A

Metric	Q3'25	Q1'24	Q3'24	Q1'23	Q3'23	Q2'23	Q1'22	Q3'22
Revenue	N/A	$1.0M	N/A	$19K-49.5%	$37K+1.1%	$36K-2.2%	$37K-40.0%	$62K
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	$2.4M+28.6%	$1.9M+9.2%	$1.7M+168.2%	$644K-73.3%	$2.4M-36.9%	$3.8M+1.9%	$3.7M-33.7%	$5.6M
SG&A Expenses	$1.4M-29.7%	$2.0M+9.0%	$1.8M+175.7%	$653K-57.6%	$1.5M-18.1%	$1.9M-1.0%	$1.9M-16.5%	$2.3M
Operating Income	-$3.8M-33.6%	-$2.8M+19.2%	-$3.5M-175.9%	-$1.3M+67.3%	-$3.9M+30.9%	-$5.7M-0.9%	-$5.6M+28.7%	-$7.9M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	$158K	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$3.8M-19.5%	-$3.2M+9.8%	-$3.5M-200.0%	-$1.2M+70.4%	-$3.9M+30.4%	-$5.7M-2.3%	-$5.5M+29.6%	-$7.9M
EPS (Diluted)	$-0.95+39.1%	$-1.56	$-5.57	$-2.46	$-2.95	$-7.55	$-17.62	$-1.82

SONN Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$14.9M+437.1%	$2.8M-49.0%	$5.4M-6.9%	$5.8M-79.9%	$29.0M+262.7%	$8.0M
Current Assets	$14.3M+577.2%	$2.1M-55.3%	$4.7M-12.5%	$5.4M-81.2%	$28.8M+277.2%	$7.6M
Cash & Equivalents	$5.1M+3325.9%	$149K-93.4%	$2.3M-25.5%	$3.1M-88.9%	$27.6M+275.8%	$7.3M
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	$4.1M+25.8%	$3.3M-42.4%	$5.7M-32.4%	$8.4M+24.3%	$6.7M+35.4%	$5.0M
Current Liabilities	$4.1M+27.6%	$3.2M-41.9%	$5.5M-32.3%	$8.2M+21.8%	$6.7M+41.9%	$4.7M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$10.8M+2320.9%	-$486K-114.9%	-$226K+91.1%	-$2.5M-111.4%	$22.3M+637.1%	$3.0M
Retained Earnings	-$133.7M-13.6%	-$117.7M-6.7%	-$110.2M-20.6%	-$91.4M-48.2%	-$61.7M-68.1%	-$36.7M

Metric	Q3'25	Q1'24	Q3'24	Q1'23	Q3'23	Q2'23	Q1'22	Q3'22
Total Assets	$14.9M+107.2%	$7.2M+159.2%	$2.8M-48.1%	$5.3M-1.7%	$5.4M-59.2%	$13.3M+169.3%	$4.9M-15.2%	$5.8M
Current Assets	$14.3M+113.3%	$6.7M+217.5%	$2.1M-54.2%	$4.6M-2.4%	$4.7M-63.7%	$13.0M+183.7%	$4.6M-15.1%	$5.4M
Cash & Equivalents	$5.1M+5.3%	$4.9M+3152.8%	$149K-95.1%	$3.0M+32.9%	$2.3M-80.0%	$11.4M+569.8%	$1.7M-44.3%	$3.1M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$500K	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	$4.1M+30.3%	$3.1M-3.4%	$3.3M+17.8%	$2.8M-51.1%	$5.7M-28.8%	$7.9M-6.3%	$8.5M+1.3%	$8.4M
Current Liabilities	$4.1M+31.2%	$3.1M-2.8%	$3.2M+20.9%	$2.7M-52.0%	$5.5M-28.9%	$7.8M-6.3%	$8.3M+1.6%	$8.2M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$10.8M+167.2%	$4.0M+931.0%	-$486K-118.9%	$2.6M+1238.4%	-$226K-104.2%	$5.4M+251.8%	-$3.5M-39.3%	-$2.5M
Retained Earnings	-$133.7M-10.6%	-$120.8M-2.7%	-$117.7M-5.6%	-$111.4M-1.1%	-$110.2M-7.4%	-$102.6M-5.8%	-$97.0M-6.1%	-$91.4M

SONN Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$12.8M-49.0%	-$8.6M+59.7%	-$21.3M+23.2%	-$27.8M-23.2%	-$22.6M-44.4%	-$15.6M
Capital Expenditures	N/A	N/A	N/A	N/A	$4K-95.2%	$76K
Free Cash Flow	N/A	N/A	N/A	N/A	-$22.6M-43.8%	-$15.7M
Investing Cash Flow	-$12K0.0%	-$12K+97.3%	-$443K+45.3%	-$810K-22263.4%	-$4K+95.2%	-$76K
Financing Cash Flow	$26.0M+301.0%	$6.5M-69.1%	$21.0M+423.3%	$4.0M-90.6%	$42.8M+86.2%	$23.0M
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	Q3'25	Q1'24	Q3'24	Q1'23	Q3'23	Q2'23	Q1'22	Q3'22
Operating Cash Flow	-$5.7M-95.4%	-$2.9M+8.2%	-$3.2M-2.5%	-$3.1M+32.2%	-$4.6M+2.9%	-$4.7M+20.6%	-$5.9M+5.3%	-$6.2M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$0	N/A	$0	N/A	-$170K	N/A	N/A	$62K
Financing Cash Flow	$18.7M+145.6%	$7.6M+3347.6%	-$235K-106.1%	$3.8M+21789.8%	-$18K-100.1%	$14.6M+221.0%	$4.6M	N/A
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

SONN 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	-1584.4%+62033.5pp	-63617.9%-50903.4pp	-12714.5%-4236.1pp	-8478.3%-3291.0pp	-5187.4%	N/A
Net Margin	-1601.2%+38328.2pp	-39929.3%-27187.7pp	-12741.6%-4248.2pp	-8493.3%-3327.4pp	-5166.0%	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-107.6%+160.8pp	-268.4%+78.5pp	-346.9%+162.9pp	-509.8%-423.6pp	-86.2%+217.4pp	-303.5%
Current Ratio	3.50+2.8	0.66-0.2	0.86+0.2	0.66-3.6	4.30+2.7	1.62
Debt-to-Equity	0.38+7.1	-6.70+18.3	-25.03-21.7	-3.30-3.6	0.30-1.3	1.65
FCF Margin	N/A	N/A	N/A	N/A	-4663.9%	N/A

Metric	Q3'25	Q1'24	Q3'24	Q1'23	Q3'23	Q2'23	Q1'22	Q3'22
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	-284.9%	N/A	-6866.1%+3758.9pp	-10625.0%+4918.3pp	-15543.3%-478.5pp	-15064.8%-2390.3pp	-12674.6%
Net Margin	N/A	-316.1%	N/A	-6273.5%+4436.8pp	-10710.3%+4839.4pp	-15549.6%-673.4pp	-14876.2%-2185.9pp	-12690.3%
Return on Equity	N/A	N/A	12.0%	N/A	N/A	N/A	N/A	N/A
Return on Assets	-183.7%-139.7pp	-44.0%+16.5pp	-60.5%-38.6pp	-21.9%+17.4pp	-39.3%+3.2pp	-42.6%+69.6pp	-112.1%-7.0pp	-105.2%
Current Ratio	3.50+1.3	2.15+1.5	0.66-1.1	1.74+0.9	0.86-0.8	1.68+1.1	0.55-0.1	0.66
Debt-to-Equity	0.38-0.4	0.78+7.5	-6.70-7.8	1.07+26.1	-25.03-26.5	1.48+3.9	-2.40+0.9	-3.30
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

What is Sonnet Biotherapeutc Hldng Inc's annual revenue?

Sonnet Biotherapeutc Hldng Inc (SONN) reported $1.0M in total revenue for fiscal year 2025. This represents a 5268.8% 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 Sonnet Biotherapeutc Hldng Inc's revenue growing?

Sonnet Biotherapeutc Hldng Inc (SONN) revenue grew by 5268.8% year-over-year, from $19K to $1.0M in fiscal year 2025.

Is Sonnet Biotherapeutc Hldng Inc profitable?

No, Sonnet Biotherapeutc Hldng Inc (SONN) reported a net income of -$16.0M in fiscal year 2025, with a net profit margin of -1601.2%.

What is Sonnet Biotherapeutc Hldng Inc's earnings per share (EPS)?

Sonnet Biotherapeutc Hldng Inc (SONN) reported diluted earnings per share of $-3.95 for fiscal year 2025. This represents a 65.2% 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.

What is Sonnet Biotherapeutc Hldng Inc's EBITDA?

Sonnet Biotherapeutc Hldng Inc (SONN) had EBITDA of -$15.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Sonnet Biotherapeutc Hldng Inc's operating margin?

Sonnet Biotherapeutc Hldng Inc (SONN) had an operating margin of -1584.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Sonnet Biotherapeutc Hldng Inc's net profit margin?

Sonnet Biotherapeutc Hldng Inc (SONN) had a net profit margin of -1601.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Sonnet Biotherapeutc Hldng Inc's operating cash flow?

Sonnet Biotherapeutc Hldng Inc (SONN) generated -$12.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Sonnet Biotherapeutc Hldng Inc's total assets?

Sonnet Biotherapeutc Hldng Inc (SONN) had $14.9M in total assets as of fiscal year 2025, including both current and long-term assets.

How much does Sonnet Biotherapeutc Hldng Inc spend on research and development?

Sonnet Biotherapeutc Hldng Inc (SONN) invested $8.4M in research and development during fiscal year 2025.

How many shares does Sonnet Biotherapeutc Hldng Inc have outstanding?

Sonnet Biotherapeutc Hldng Inc (SONN) had 7M shares outstanding as of fiscal year 2025.

What is Sonnet Biotherapeutc Hldng Inc's current ratio?

Sonnet Biotherapeutc Hldng Inc (SONN) had a current ratio of 3.50 as of fiscal year 2025, which is generally considered healthy.

What is Sonnet Biotherapeutc Hldng Inc's debt-to-equity ratio?

Sonnet Biotherapeutc Hldng Inc (SONN) had a debt-to-equity ratio of 0.38 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Sonnet Biotherapeutc Hldng Inc's return on assets (ROA)?

Sonnet Biotherapeutc Hldng Inc (SONN) had a return on assets of -107.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Sonnet Biotherapeutc Hldng Inc's cash runway?

Based on fiscal year 2025 data, Sonnet Biotherapeutc Hldng Inc (SONN) had $5.1M in cash against an annual operating cash burn of $12.8M. This gives an estimated cash runway of approximately 5 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 Sonnet Biotherapeutc Hldng Inc's Piotroski F-Score?

Sonnet Biotherapeutc Hldng Inc (SONN) has a Piotroski F-Score of 4 out of 9, indicating neutral 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 Sonnet Biotherapeutc Hldng Inc's earnings high quality?

Sonnet Biotherapeutc Hldng Inc (SONN) has an earnings quality ratio of 0.80x, 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 Sonnet Biotherapeutc Hldng Inc?

Sonnet Biotherapeutc Hldng Inc (SONN) scores 74 out of 100 on our Financial Profile, indicating strong 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.