Vera Therapeutics, Inc. (VERA) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 6, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 10, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the VERA SEC filings page.
This page shows Vera Therapeutics, Inc. (VERA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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).
Vera remains a development-stage business: R&D and operating losses are expanding, while financing—not operations—supports reported liquidity.
In FY2025, the net loss was$299.6M versus operating cash outflow of$241.1M , so accounting losses closely tracked cash consumption rather than being mainly a noncash result. R&D climbed from$78.2M in FY2023 to$215.3M in FY2025, making development spending the clearest disclosed driver of the rising cash use.
Financing cash flow of
Debt-to-equity fell from 0.5x in FY2023 to 0.1x in FY2025, indicating an equity-funded balance-sheet posture rather than debt-led expansion. Reported liquidity equaled 35.6 months of the latest annual operating outflow, a historical comparison that does not project future funding.
Financial Health Signals
Vera Therapeutics, Inc. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Vera Therapeutics, Inc. passes 1 of 6 computable financial strength tests (3 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).
Vera Therapeutics, Inc. reported a net loss of $299.6M while operations used $241.1M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Vera Therapeutics, Inc. reported an operating loss of $315.5M against $7.5M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Vera Therapeutics, Inc.'s EBITDA was -$112.4M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 40.4% from the same quarter a year earlier. Against the prior quarter it is up 10.1%.
Vera Therapeutics, Inc. reported -$109.5M in net income in Q2 2026. This represents a decrease of 43.0% from the same quarter a year earlier. Against the prior quarter it is up 9.6%.
Vera Therapeutics, Inc. earned -$1.52 per diluted share (EPS) in Q2 2026. This represents a decrease of 26.7% from the same quarter a year earlier. Against the prior quarter it is up 10.1%.
Not reported for Q2 2026.
Cash & Balance Sheet
Vera Therapeutics, Inc. recorded an outflow of $100.3M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 82.3% from the same quarter a year earlier. Against the prior quarter it is up 5.9%.
Vera Therapeutics, Inc. held $48.9M in cash against $75.2M in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Vera Therapeutics, Inc.'s ROE was -26.9% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 10.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.6 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Vera Therapeutics, Inc. invested $60.1M in research and development in Q2 2026. This represents an increase of 3.2% from the same quarter a year earlier. Against the prior quarter it is down 30.1%.
Vera Therapeutics, Inc. reported no capital expenditure in Q2 2026. This represents a decrease of 100.0% from the same quarter a year earlier. Against the prior quarter it is down 100.0%.
Not reported for Q2 2026.
VERA 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| R&D Expenses | $60.1M+3.2% | $86.0M+108.4% | N/A | $56.5M+40.1% | $58.2M+98.5% | $41.3M+77.9% | N/A | $40.3M+150.4% |
| SG&A Expenses | $52.4M+138.8% | $39.1M+145.8% | N/A | $27.5M+189.4% | $21.9M+173.2% | $15.9M+101.2% | N/A | $9.5M+67.7% |
| Operating Income | -$112.5M-40.4% | -$125.1M-118.8% | N/A | -$83.9M-68.5% | -$80.1M-114.6% | -$57.2M-83.8% | N/A | -$49.8M-128.9% |
| EBITDA | -$112.4M-40.4% | -$125.0M-118.9% | N/A | -$83.8M-68.4% | -$80.0M-114.4% | -$57.1M-83.6% | N/A | -$49.8M-128.9% |
| Interest Expense | $1.8M-1.4% | $1.8M+1.7% | N/A | $2.0M+1.2% | $1.9M-2.0% | $1.8M-6.0% | N/A | $1.9M+105.3% |
| Net Income | -$109.5M-43.0% | -$121.0M-134.1% | N/A | -$80.3M-72.2% | -$76.5M-127.0% | -$51.7M-82.1% | N/A | -$46.6M-132.0% |
| EPS (Basic) | -$1.52-26.7% | -$1.69-108.6% | -$1.39-93.1% | -$1.26-48.2% | -$1.20-93.5% | -$0.81-44.6% | -$0.72-24.1% | -$0.85-88.9% |
| EPS (Diluted) | -$1.52-26.7% | -$1.69-108.6% | -$1.39-93.1% | -$1.26-48.2% | -$1.20-93.5% | -$0.81-44.6% | -$0.72-24.1% | -$0.85-88.9% |
| Diluted Shares (Avg) | 72M+12.6% | 71M+12.3% | N/A | 64M+16.3% | 64M+16.6% | 64M+24.9% | N/A | 55M+23.7% |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Income Tax.
VERA 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $533.0M-7.9% | $621.7M+1.9% | $734.7M+12.1% | $517.5M+40.4% | $578.5M+45.6% | $610.2M+45.5% | $655.7M+273.5% | $368.6M+109.9% |
| Current Assets | $527.5M-7.7% | $615.8M+1.6% | $728.9M+11.9% | $511.3M+40.4% | $571.4M+44.7% | $606.1M+45.6% | $651.2M+278.6% | $364.1M+112.2% |
| Cash & Equivalents | $48.9M-0.5% | $114.4M+107.6% | $354.7M+282.9% | $57.8M+112.0% | $49.1M+95.8% | $55.1M-20.3% | $92.6M+102.8% | $27.3M-0.7% |
| Short-Term Investments | $450.3M-11.3% | $482.4M-9.8% | $359.9M-34.4% | $439.6M+34.8% | $507.7M+41.3% | $534.7M+59.8% | $548.2M+376.6% | $326.1M+146.1% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0-100.0% | $0-100.0% |
| Total Liabilities | $125.2M+13.6% | $122.0M+62.4% | $130.2M+65.8% | $118.6M+49.2% | $110.3M+58.8% | $75.2M+14.2% | $78.5M+6.3% | $79.5M+53.2% |
| Current Liabilities | $48.3M+44.0% | $45.1M+106.2% | $53.5M+110.7% | $41.9M+58.3% | $33.6M+82.2% | $21.9M+50.5% | $25.4M+13.8% | $26.5M+7.5% |
| Non-Current Liabilities | $76.9M+0.3% | $76.9M+44.3% | $76.8M+44.4% | $76.7M+44.7% | $76.7M+50.4% | $53.3M+3.9% | $53.2M+3.1% | $53.0M+94.3% |
| Long-Term Debt | $75.2M+1.0% | $75.0M+47.4% | $74.8M+47.6% | $74.6M+47.9% | $74.5M+48.1% | $50.9M+1.7% | $50.7M+1.6% | $50.5M+101.5% |
| Total Equity | $407.8M-12.9% | $499.7M-6.6% | $604.5M+4.7% | $398.9M+38.0% | $468.3M+42.8% | $535.0M+51.3% | $577.2M+467.6% | $289.1M+133.7% |
| Retained Earnings | -$991.4M-68.2% | -$881.9M-71.9% | -$760.9M-65.0% | -$669.8M-60.3% | -$589.5M-58.8% | -$512.9M-52.0% | -$461.3M-49.2% | -$417.8M-47.4% |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill.
VERA 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$100.3M-83.0% | -$106.5M-95.8% | -$70.0M-78.6% | -$61.9M-67.8% | -$54.8M-121.1% | -$54.4M-60.8% | -$39.2M-55.8% | -$36.9M-60.6% |
| Depreciation & Amortization | $132K+10.9% | $140K+64.7% | $135K+145.5% | $129K+437.5% | $119K+693.3% | $85K+672.7% | $55K+1275.0% | $24K+300.0% |
| Stock-Based Compensation | $15.9M+67.5% | $13.2M+70.6% | N/A | $9.7M+74.4% | $9.5M+94.4% | $7.7M+87.8% | N/A | $5.6M+91.2% |
| Capital Expenditures | $0-100.0% | $23K-87.7% | $102K-84.2% | $133K-44.1% | $208K+133.7% | $187K | $645K+923.8% | $238K |
| Free Cash Flow | -$100.3M-82.3% | -$106.5M-95.1% | -$70.1M-76.0% | -$62.0M-67.1% | -$55.0M-121.2% | -$54.6M-61.4% | -$39.8M-58.0% | -$37.1M-61.6% |
| Investing Cash Flow | $32.9M+15.1% | -$137.8M-999.8% | $80.7M+136.4% | $69.8M+82.1% | $28.5M+225.9% | $15.3M+107.0% | -$221.4M-1293.1% | $38.3M+136.1% |
| Financing Cash Flow | $1.9M-90.5% | $3.9M+157.1% | $286.3M-12.2% | $797K+7.8% | $20.3M+489.9% | $1.5M-99.4% | $326.0M+1212.9% | $739K+148.8% |
| Share Buybacks | N/A | N/A | $0 | N/A | N/A | N/A | $0 | N/A |
Not reported in any period shown, so not listed: Dividends Paid.
VERA 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | -26.9%-10.5pp | -24.2%-14.6pp | N/A | -20.1%-4.0pp | -16.3%-6.1pp | -9.7%-1.6pp | N/A | -16.1%+0.1pp |
| Return on Assets | -20.5%-7.3pp | -19.5%-11.0pp | N/A | -15.5%-2.9pp | -13.2%-4.8pp | -8.5%-1.7pp | N/A | -12.7%-1.2pp |
| Current Ratio | 10.92-6.1x | 13.64-14.0x | 13.64-12.0x | 12.21-1.6x | 17.03-4.4x | 27.68-0.9x | 25.67+18.0x | 13.76+6.8x |
| Debt-to-Equity | 0.180.0x | 0.15+0.1x | 0.120.0x | 0.190.0x | 0.160.0x | 0.100.0x | 0.09-0.4x | 0.170.0x |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Asset Turnover, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Vera Therapeutics, Inc. VERA | FY2025 | N/A | -$299.6M | N/A | $2.1B | — |
| Aurinia Pharmaceuticals Inc AUPH | FY2025 | $283.1M | $287.2M | N/A | $2.1B | 56/100 |
| Viridian Therapeutics, Inc. VRDN | FY2025 | $70.8M | -$342.6M | N/A | $2.2B | 67/100 |
| Cidara Therapeutics, Inc. CDTX | FY2024 | $1.3M | -$169.8M | N/A | $7.0B | 49/100 |
| Ardelyx, Inc. ARDX | FY2025 | $407.3M | -$62.0M | -15.2% | $875.3M | 45/100 |
| Edgewise Therapeutics, Inc. EWTX | FY2025 | N/A | -$168K | N/A | $4.4B | — |
Where Vera Therapeutics, Inc. Ranks
Frequently Asked Questions
Is Vera Therapeutics, Inc. profitable?
No, Vera Therapeutics, Inc. (VERA) reported a net income of -$299.6M in fiscal year 2025.
What is Vera Therapeutics, Inc.'s EBITDA?
Vera Therapeutics, Inc. (VERA) had EBITDA of -$315.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Vera Therapeutics, Inc. have?
As of fiscal year 2025, Vera Therapeutics, Inc. (VERA) had $354.7M in cash and equivalents against $74.8M in long-term debt.
What is Vera Therapeutics, Inc.'s return on equity (ROE)?
Vera Therapeutics, Inc. (VERA) has a return on equity of -49.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Vera Therapeutics, Inc.'s free cash flow?
Vera Therapeutics, Inc. (VERA) recorded an outflow of $241.7M in free cash flow during fiscal year 2025. This represents a -78.2% 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 Vera Therapeutics, Inc.'s operating cash flow?
Vera Therapeutics, Inc. (VERA) recorded an outflow of $241.1M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Vera Therapeutics, Inc.'s total assets?
Vera Therapeutics, Inc. (VERA) had $734.7M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Vera Therapeutics, Inc.'s capital expenditures?
Vera Therapeutics, Inc. (VERA) invested $630K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Vera Therapeutics, Inc. spend on research and development?
Vera Therapeutics, Inc. (VERA) invested $215.3M in research and development during fiscal year 2025.
What is Vera Therapeutics, Inc.'s current ratio?
Vera Therapeutics, Inc. (VERA) had a current ratio of 13.64 as of fiscal year 2025, which is generally considered healthy.
What is Vera Therapeutics, Inc.'s debt-to-equity ratio?
Vera Therapeutics, Inc. (VERA) had a debt-to-equity ratio of 0.12 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Vera Therapeutics, Inc.'s return on assets (ROA)?
Vera Therapeutics, Inc. (VERA) had a return on assets of -40.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Vera Therapeutics, Inc.'s P/E ratio?
Vera Therapeutics, Inc. (VERA) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $2.1B as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Vera Therapeutics, Inc.'s price-to-sales ratio?
Vera Therapeutics, Inc. (VERA) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $2.1B as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Vera Therapeutics, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Vera Therapeutics, Inc. (VERA) held $714.6M in cash, cash equivalents and investments, and reported an operating cash outflow of $241.1M over that year. Dividing the one by the other, the reported balance equals about 36 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 Vera Therapeutics, Inc.'s Piotroski F-Score?
Vera Therapeutics, Inc. (VERA) has a Piotroski F-Score of 1 out of 6 computable signals; 3 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 Vera Therapeutics, Inc.'s earnings high quality?
Vera Therapeutics, Inc. (VERA) reported a net loss of $299.6M while operations used $241.1M 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.
Can Vera Therapeutics, Inc. cover its interest payments?
Vera Therapeutics, Inc. (VERA) reported an operating loss of $315.5M against $7.5M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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.