Veru Financials
This page shows Veru (VERU) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 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
Veru passes 0 of 9 financial strength tests. No profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
For every $1 of reported earnings, Veru generates $1.32 in operating cash flow (-$30.0M OCF vs -$22.7M 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
Veru's EBITDA was -$24.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 31.5% from the prior year.
Veru generated -$30.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 37.6% from the prior year.
Veru reported -$22.7M in net income in fiscal year 2025. This represents an increase of 39.9% from the prior year.
Veru held $15.8M in cash against $0 in long-term debt as of fiscal year 2025.
Veru had 15M shares outstanding in fiscal year 2025. This represents an increase of 0.1% from the prior year.
Veru invested $15.6M in research and development in fiscal year 2025. This represents an increase of 22.0% from the prior year.
Veru invested $1K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 99.3% from the prior year.
VERU Income Statement
| Metric | Q1'26 | Q3'25 | Q2'25 | Q3'24 | Q2'24 | Q1'24 | Q3'23 | Q3'22 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | $0 | $0-100.0% | $4.0M-4.4% | $4.1M+93.2% | $2.1M-35.9% | $3.3M-81.1% | $17.7M |
| Cost of Revenue | N/A | N/A | N/A | $2.6M-24.3% | $3.5M+249.1% | $990K-53.1% | $2.1M-44.2% | $3.8M |
| Gross Profit | N/A | N/A | N/A | $1.3M+97.3% | $678K-41.0% | $1.2M-6.5% | $1.2M-91.1% | $13.9M |
| R&D Expenses | $1.3M-55.5% | $3.0M-23.2% | $3.9M-18.9% | $4.8M+62.3% | $3.0M+80.0% | $1.7M-81.1% | $8.8M-21.5% | $11.2M |
| SG&A Expenses | $4.1M-18.6% | $5.0M-3.0% | $5.2M-11.1% | $5.8M-1.6% | $5.9M-11.2% | $6.7M-39.0% | $10.9M+96.2% | $5.6M |
| Operating Income | -$5.4M+28.1% | -$7.5M+7.1% | -$8.1M+23.0% | -$10.5M-18.6% | -$8.9M-20.3% | -$7.4M+46.2% | -$13.7M-378.3% | -$2.9M |
| Interest Expense | N/A | N/A | N/A | $127K-12.4% | $145K-11.9% | $165K-74.6% | $649K-49.6% | $1.3M |
| Income Tax | $0 | $0 | $0 | $0 | $0 | $0-100.0% | $58K+102.0% | -$2.9M |
| Net Income | -$5.3M+27.3% | -$7.3M+7.2% | -$7.9M+28.0% | -$11.0M-9.4% | -$10.0M-21.1% | -$8.3M+33.9% | -$12.5M-365.0% | -$2.7M |
| EPS (Diluted) | N/A | N/A | N/A | N/A | $-0.07+12.5% | $-0.08+42.9% | $-0.14-366.7% | $-0.03 |
VERU Balance Sheet
| Metric | Q1'26 | Q3'25 | Q2'25 | Q3'24 | Q2'24 | Q1'24 | Q3'23 | Q3'22 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $47.6M+74.0% | $27.3M-16.3% | $32.7M-45.9% | $60.4M-15.9% | $71.8M-10.9% | $80.6M+61.1% | $50.0M-63.0% | $135.4M |
| Current Assets | $36.8M+127.3% | $16.2M-24.3% | $21.4M-39.3% | $35.2M-22.0% | $45.1M-15.4% | $53.3M+132.6% | $22.9M-77.9% | $104.0M |
| Cash & Equivalents | $33.0M+119.8% | $15.0M-25.0% | $20.0M-19.7% | $24.9M | N/A | N/A | $9.6M | N/A |
| Inventory | N/A | N/A | N/A | $4.1M-13.7% | $4.8M-30.5% | $6.9M+3.2% | $6.7M-22.3% | $8.6M |
| Accounts Receivable | N/A | N/A | N/A | $4.0M+42.2% | $2.8M+16.9% | $2.4M-47.1% | $4.5M+26.9% | $3.6M |
| Goodwill | $6.9M0.0% | $6.9M0.0% | $6.9M0.0% | $6.9M0.0% | $6.9M-0.3% | $6.9M+0.3% | $6.9M0.0% | $6.9M |
| Total Liabilities | $10.4M-12.9% | $12.0M+3.1% | $11.6M-58.6% | $28.1M+5.7% | $26.6M-8.2% | $29.0M-4.5% | $30.3M-42.3% | $52.6M |
| Current Liabilities | $7.1M+6.7% | $6.7M+18.9% | $5.6M-52.7% | $11.9M+24.1% | $9.6M-42.5% | $16.6M-6.7% | $17.8M-54.0% | $38.7M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $37.1M+141.9% | $15.3M-27.1% | $21.0M-34.9% | $32.3M-28.5% | $45.2M-12.4% | $51.6M+162.2% | $19.7M-76.2% | $82.8M |
| Retained Earnings | -$322.6M-1.2% | -$318.7M-2.4% | -$311.4M-5.7% | -$294.6M-7.1% | -$275.1M-3.8% | -$265.0M-3.2% | -$256.8M-56.9% | -$163.6M |
VERU Cash Flow Statement
| Metric | Q1'26 | Q3'25 | Q2'25 | Q3'24 | Q2'24 | Q1'24 | Q3'23 | Q3'22 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$6.2M-12.5% | -$5.5M+29.1% | -$7.7M-77.2% | -$4.4M+22.7% | -$5.7M+6.2% | -$6.0M+36.6% | -$9.5M+54.5% | -$20.9M |
| Capital Expenditures | $0 | $0 | $0-100.0% | $63K+55.0% | $41K | $0-100.0% | $213K+43.1% | $149K |
| Free Cash Flow | -$6.2M-12.5% | -$5.5M+29.1% | -$7.7M-74.7% | -$4.4M+22.2% | -$5.7M+5.5% | -$6.0M+38.0% | -$9.7M+53.8% | -$21.0M |
| Investing Cash Flow | $0-100.0% | $474K-58.7% | $1.1M+772.9% | $132K+423.4% | -$41K | $0-100.0% | $787K+629.0% | -$149K |
| Financing Cash Flow | $23.4M | $0 | $0 | $0+100.0% | -$150K-100.4% | $37.0M+1646.0% | $2.1M+217.3% | $667K |
| 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 |
VERU Financial Ratios
| Metric | Q1'26 | Q3'25 | Q2'25 | Q3'24 | Q2'24 | Q1'24 | Q3'23 | Q3'22 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | 33.8%+17.4pp | 16.4%-37.3pp | 53.7%+16.9pp | 36.8%-41.8pp | 78.6% |
| Operating Margin | N/A | N/A | N/A | -266.7%-51.8pp | -215.0%+130.3pp | -345.3%+65.8pp | -411.1%-394.9pp | -16.3% |
| Net Margin | N/A | N/A | N/A | -277.4%-35.0pp | -242.5%+144.2pp | -386.6%-11.8pp | -374.8%-359.6pp | -15.3% |
| Return on Equity | 14.4% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -11.2%+15.6pp | -26.8%-2.6pp | -24.2%-7.2pp | -17.0%-3.0pp | -14.0%-3.7pp | -10.3%+10.5pp | -20.8%-19.3pp | -1.5% |
| Current Ratio | 5.16+2.7 | 2.42-1.4 | 3.80+0.8 | 2.97-1.8 | 4.72+1.5 | 3.21+1.9 | 1.29-1.4 | 2.69 |
| Debt-to-Equity | 0.28-0.5 | 0.78+0.2 | 0.55-0.3 | 0.87+0.3 | 0.59+0.0 | 0.56-1.0 | 1.54+0.9 | 0.63 |
| FCF Margin | N/A | N/A | N/A | -144.2%-6.6pp | -137.6%+143.6pp | -281.2%+271.2pp | -552.4%-478.9pp | -73.5% |
Similar Companies
Frequently Asked Questions
Is Veru profitable?
No, Veru (VERU) reported a net income of -$22.7M in fiscal year 2025.
What is Veru's EBITDA?
Veru (VERU) had EBITDA of -$24.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Veru's free cash flow?
Veru (VERU) generated -$30.0M in free cash flow during fiscal year 2025. This represents a -37.6% 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 Veru's operating cash flow?
Veru (VERU) generated -$30.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Veru's total assets?
Veru (VERU) had $29.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Veru's capital expenditures?
Veru (VERU) invested $1K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Veru spend on research and development?
Veru (VERU) invested $15.6M in research and development during fiscal year 2025.
How many shares does Veru have outstanding?
Veru (VERU) had 15M shares outstanding as of fiscal year 2025.
What is Veru's current ratio?
Veru (VERU) had a current ratio of 2.43 as of fiscal year 2025, which is generally considered healthy.
What is Veru's debt-to-equity ratio?
Veru (VERU) had a debt-to-equity ratio of 0.63 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Veru's return on assets (ROA)?
Veru (VERU) had a return on assets of -76.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Veru's cash runway?
Based on fiscal year 2025 data, Veru (VERU) had $15.8M in cash against an annual operating cash burn of $30.0M. This gives an estimated cash runway of approximately 6 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 Veru's Piotroski F-Score?
Veru (VERU) has a Piotroski F-Score of 0 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 Veru's earnings high quality?
Veru (VERU) has an earnings quality ratio of 1.32x, 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.