Verona Pharma Financials
Verona Pharma (VRNA) reported $42.3M in revenue for fiscal year 2024. This page shows its 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).
Development-stage spending funded by financing remains the dominant mechanic, with operating costs ahead of revenue and rising leverage.
FY2024's cash conversion gap is narrower than the headline loss: net loss was-$173M versus operating cash flow of-$122M . Free cash flow nearly matched operating cash flow at-$123M , so the cash burden came mainly from operations rather than capital spending, which was only$580K .
FY2024 revenue reached
The balance sheet expanded alongside financing: financing cash flow was
Financial Health Signals
Scored against operating companies for FY2024. 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 Verona Pharma'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.
Verona Pharma's reported operating margin for fiscal year 2024 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 23/100.
Verona Pharma has a moderate D/E ratio of 0.59. This balance of debt and equity financing earns a leverage score of 56/100.
With a current ratio of 10.63, Verona Pharma holds $10.63 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 97/100.
Verona Pharma's reported free cash flow margin for fiscal year 2024 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 4/100.
Verona Pharma posts a -84.8% return on equity (ROE), meaning it loses $85 for every $100 of shareholders' equity. This results in a returns score of 33/100. This is down from -21.8% the prior year.
Verona Pharma scores 18.61, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($9.1B) relative to total liabilities ($269.7M). 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.
Verona Pharma passes 2 of 8 computable financial strength tests (1 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), both operating efficiency signals pass.
Verona Pharma reported a net loss of $173.4M while operations used $122.2M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Verona Pharma reported an operating loss of $154.6M against $23.5M 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
Verona Pharma generated $42.3M in revenue in fiscal year 2024.
Verona Pharma's EBITDA was -$153.6M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 129.6% from the prior year.
Verona Pharma reported -$173.4M in net income in fiscal year 2024. This represents a decrease of 219.0% from the prior year.
Verona Pharma earned -$0.27 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 200.0% from the prior year.
Cash & Balance Sheet
Verona Pharma recorded an outflow of $122.8M in free cash flow in fiscal year 2024, representing a cash shortfall after capex. This represents a decrease of 144.5% from the prior year.
Verona Pharma held $399.8M in cash against $120.3M in long-term debt as of fiscal year 2024.
Not reported for fiscal year 2024.
Margins & Returns
Verona Pharma's ROE was -84.8% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 63.0 percentage points from the prior year.
Not reported for fiscal year 2024.
Not shown for fiscal year 2024: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2024: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Verona Pharma invested $44.6M in research and development in fiscal year 2024. This represents an increase of 158.9% from the prior year.
Verona Pharma invested $580K in capex in fiscal year 2024, funding long-term assets and infrastructure.
Not reported for fiscal year 2024.
VRNA Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $103.1M+35.3% | $76.3M | N/A | $5.6M | $0 | $0 | N/A | $0 |
| R&D Expenses | $12.9M-7.9% | $14.1M | N/A | N/A | $19.4M+186.6% | $6.8M | N/A | N/A |
| SG&A Expenses | $72.1M+4.4% | $69.1M | N/A | $35.2M-28.2% | $49.0M+140.0% | $20.4M | N/A | $13.4M |
| Operating Income | $13.3M+229.0% | -$10.3M | N/A | -$40.7M+40.6% | -$68.4M-151.6% | -$27.2M | N/A | -$16.3M |
| Interest Expense | $6.8M-33.1% | $10.2M | N/A | $9.9M+462.4% | $1.8M+10.8% | $1.6M | N/A | $401K |
| Income Tax | -$39K+83.7% | -$239K | N/A | $250K-75.3% | $1.0M+34.5% | $754K | N/A | $44K |
| Net Income | $11.9M+173.0% | -$16.3M | N/A | -$43.0M+39.3% | -$70.8M-174.6% | -$25.8M | N/A | -$14.7M |
| EPS (Diluted) | $0.02+200.0% | -$0.02+60.0% | -$0.05+28.6% | -$0.07+36.4% | -$0.11-175.0% | -$0.04-33.3% | -$0.03-50.0% | -$0.02 |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit.
VRNA Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $572.9M+8.9% | $525.9M+10.9% | $474.2M+24.2% | $381.8M-12.0% | $434.1M+49.7% | $289.9M-5.9% | $308.1M+5.4% | $292.5M |
| Current Assets | $548.9M+9.5% | $501.0M+10.5% | $453.6M+24.5% | $364.3M-12.5% | $416.3M+53.1% | $271.8M-6.2% | $289.7M+4.8% | $276.5M |
| Cash & Equivalents | $438.0M+9.1% | $401.4M+0.4% | $399.8M+19.0% | $336.0M-16.9% | $404.6M+58.7% | $254.9M-6.2% | $271.8M+5.6% | $257.4M |
| Inventory | $8.6M+18.9% | $7.2M+15.9% | $6.2M+44.8% | $4.3M | N/A | N/A | $0 | N/A |
| Accounts Receivable | $82.9M+33.3% | $62.2M+97.4% | $31.5M+356.2% | $6.9M | N/A | N/A | $0 | N/A |
| Goodwill | $545K0.0% | $545K0.0% | $545K0.0% | $545K0.0% | $545K0.0% | $545K0.0% | $545K0.0% | $545K |
| Total Liabilities | $294.6M-1.6% | $299.3M+11.0% | $269.7M+7.3% | $251.3M-5.5% | $265.8M+309.5% | $64.9M+10.3% | $58.8M+103.3% | $28.9M |
| Current Liabilities | $51.2M-9.4% | $56.5M+32.5% | $42.7M+52.7% | $27.9M-42.2% | $48.3M+227.2% | $14.8M+70.0% | $8.7M-3.6% | $9.0M |
| Long-Term Debt | $242.4M+0.3% | $241.7M+100.9% | $120.3M+0.3% | $120.0M+0.3% | $119.7M+146.5% | $48.5M+0.4% | $48.4M+143.0% | $19.9M |
| Total Equity | $278.3M+22.8% | $226.6M+10.8% | $204.6M+56.8% | $130.5M-22.5% | $168.3M-25.2% | $225.0M-9.7% | $249.3M-5.4% | $263.5M |
| Retained Earnings | -$567.1M+2.0% | -$578.8M-2.9% | -$562.4M-6.4% | -$528.5M-8.9% | -$485.3M-17.1% | -$414.4M-6.7% | -$388.4M-3.8% | -$374.1M |
VRNA 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 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $30.6M+364.3% | -$11.6M+59.9% | -$28.8M+54.0% | -$62.7M-266.4% | -$17.1M-25.7% | -$13.6M-30.8% | -$10.4M+18.3% | -$12.7M |
| Capital Expenditures | $0-100.0% | $535K0.0% | $535K | $0-100.0% | $29K+81.3% | $16K | $0 | $0 |
| Free Cash Flow | $30.6M+352.7% | -$12.1M+58.8% | -$29.4M+53.1% | -$62.7M-265.7% | -$17.1M-25.7% | -$13.6M-31.0% | -$10.4M+18.3% | -$12.7M |
| Investing Cash Flow | $0+100.0% | -$535K0.0% | -$535K | $0+100.0% | -$29K-81.3% | -$16K | $0 | $0 |
| Financing Cash Flow | $4.9M-63.3% | $13.5M-85.7% | $94.2M+1428.6% | -$7.1M-104.2% | $166.8M+5442.0% | -$3.1M-113.0% | $24.0M+49925.0% | $48K |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
VRNA Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 12.9%+26.4pp | -13.5% | N/A | -723.1% | N/A | N/A | N/A | N/A |
| Net Margin | 11.6%+33.0pp | -21.4% | N/A | -763.9% | N/A | N/A | N/A | N/A |
| Return on Equity | 4.3%+11.5pp | -7.2% | N/A | -32.9%+9.2pp | -42.1%-30.6pp | -11.5% | N/A | -5.6% |
| Return on Assets | 2.1%+5.2pp | -3.1% | N/A | -11.3%+5.1pp | -16.3%-7.4pp | -8.9% | N/A | -5.0% |
| Current Ratio | 10.71+1.9x | 8.86-1.8x | 10.63-2.4x | 13.03+4.4x | 8.61-9.8x | 18.40-14.9x | 33.33+2.6x | 30.68 |
| Debt-to-Equity | 0.87-0.2x | 1.07+0.5x | 0.59-0.3x | 0.92+0.2x | 0.71+0.5x | 0.220.0x | 0.19+0.1x | 0.08 |
| FCF Margin | 29.6%+45.5pp | -15.9% | N/A | -1114.1% | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Gross Margin.
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 Verona Pharma Ranks
Frequently Asked Questions
What is Verona Pharma's annual revenue?
Verona Pharma (VRNA) reported $42.3M in total revenue for fiscal year 2024. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Is Verona Pharma profitable?
No, Verona Pharma (VRNA) reported a net income of -$173.4M in fiscal year 2024.
What is Verona Pharma's EBITDA?
Verona Pharma (VRNA) had EBITDA of -$153.6M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Verona Pharma have?
As of fiscal year 2024, Verona Pharma (VRNA) had $399.8M in cash and equivalents against $120.3M in long-term debt.
What is Verona Pharma's return on equity (ROE)?
Verona Pharma (VRNA) has a return on equity of -84.8% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Verona Pharma's free cash flow?
Verona Pharma (VRNA) recorded an outflow of $122.8M in free cash flow during fiscal year 2024. This represents a -144.5% 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 Verona Pharma's operating cash flow?
Verona Pharma (VRNA) recorded an outflow of $122.2M in operating cash flow during fiscal year 2024, representing cash used by core business activities.
What are Verona Pharma's total assets?
Verona Pharma (VRNA) had $474.2M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Verona Pharma's capital expenditures?
Verona Pharma (VRNA) invested $580K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Verona Pharma spend on research and development?
Verona Pharma (VRNA) invested $44.6M in research and development during fiscal year 2024.
What is Verona Pharma's current ratio?
Verona Pharma (VRNA) had a current ratio of 10.63 as of fiscal year 2024, which is generally considered healthy.
What is Verona Pharma's debt-to-equity ratio?
Verona Pharma (VRNA) had a debt-to-equity ratio of 0.59 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Verona Pharma's return on assets (ROA)?
Verona Pharma (VRNA) had a return on assets of -36.6% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
How does Verona Pharma's liquidity compare with its operating cash outflow?
At the end of fiscal year 2024, Verona Pharma (VRNA) held $399.8M in cash, cash equivalents and investments, and reported an operating cash outflow of $122.2M over that year. Dividing the one by the other, the reported balance equals about 39 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 Verona Pharma's Altman Z-Score?
Verona Pharma (VRNA) has an Altman Z-Score of 18.61, 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 Verona Pharma's Piotroski F-Score?
Verona Pharma (VRNA) has a Piotroski F-Score of 2 out of 8 computable signals; 1 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 Verona Pharma's earnings high quality?
Verona Pharma (VRNA) reported a net loss of $173.4M while operations used $122.2M 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 Verona Pharma cover its interest payments?
Verona Pharma (VRNA) reported an operating loss of $154.6M against $23.5M 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.
How financially healthy is Verona Pharma?
Verona Pharma (VRNA) scores 44 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.