Verona Pharma plc (VRNA) Financials
Newest figures come from the 10-Q for Q2 FY2025, filed Aug 6, 2025. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the VRNA SEC filings page.
Verona Pharma plc (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).
The business is still funding development externally: FY2024 losses widened while financing inflows, not operations, supported its expanding balance sheet.
FY2024 operating cash outflow was$122M against a net loss of$173M , so accounting losses did not translate one-for-one into cash use. Financing provided$251M , indicating the balance-sheet expansion was funded externally rather than by operating cash generation.
R&D exceeded revenue in both FY2021 and FY2024, pointing to an investment-led rather than scaled commercial model. In FY2024, R&D was
FY2024 assets reached
Financial Health Signals
Scored against emerging 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 plc'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 plc held $399.8M in cash, cash equivalents and investments at the end of fiscal year 2024, and its operations used $122.2M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Verona Pharma plc scores 63/100 among other emerging companies.
Verona Pharma plc had 680M shares outstanding at the end of fiscal year 2024, against 647M in fiscal year 2023. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Verona Pharma plc scores 59/100 among other emerging companies.
Verona Pharma plc spent $44.6M on research and development in fiscal year 2024, which was 22.6% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Verona Pharma plc scores 55/100 among other emerging companies.
Verona Pharma plc reported revenue of $42.3M in fiscal year 2024, against none in fiscal year 2023. Revenue Progress ranks emerging companies on the three-year path of that line, and Verona Pharma plc scores 97/100 among other emerging companies.
Verona Pharma plc's operations used $122.2M of cash in fiscal year 2024, against $50.2M used in fiscal year 2023. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Verona Pharma plc scores 18/100 among other emerging companies.
Verona Pharma plc's cash, cash equivalents and investments came to $399.8M at the end of fiscal year 2024, against $269.7M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Verona Pharma plc scores 68/100 among other emerging companies.
Verona Pharma plc 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 plc 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 plc 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 plc 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 plc generated $103.1M in revenue in Q2 2025. Against the prior quarter it is up 35.3%.
Verona Pharma plc's EBITDA was $13.6M in Q2 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 120.0% from the same quarter a year earlier. Against the prior quarter it is up 235.7%.
Verona Pharma plc reported $11.9M in net income in Q2 2025. This represents an increase of 116.8% from the same quarter a year earlier. Against the prior quarter it is up 173.0%.
Verona Pharma plc earned $0.02 per diluted share (EPS) in Q2 2025. This represents an increase of 118.2% from the same quarter a year earlier. Against the prior quarter it is up 200.0%.
Cash & Balance Sheet
Verona Pharma plc generated $30.6M in free cash flow in Q2 2025, representing cash available after capex. This represents an increase of 278.4% from the same quarter a year earlier. Against the prior quarter it is up 352.7%.
Verona Pharma plc held $438.0M in cash against $242.4M in long-term debt as of Q2 2025.
Not reported for Q2 2025.
Margins & Returns
Verona Pharma plc's operating margin was 12.9% in Q2 2025, reflecting core business profitability. Against the prior quarter it is up 26.4 percentage points.
Verona Pharma plc's net profit margin was 11.6% in Q2 2025, showing the share of revenue converted to profit. Against the prior quarter it is up 33.0 percentage points.
Verona Pharma plc's ROE was 4.3% in Q2 2025, measuring profit generated per dollar of shareholder equity. This is up 46.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 11.5 percentage points.
Not reported for Q2 2025.
Capital Allocation
Verona Pharma plc invested $12.9M in research and development in Q2 2025. This represents a decrease of 33.2% from the same quarter a year earlier. Against the prior quarter it is down 7.9%.
Verona Pharma plc reported no capital expenditure in Q2 2025. 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 2025.
VRNA 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 | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K | Q3'2310-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $103.1M | $76.3M | N/A | $5.6M | $0 | $0 | N/A | $0 |
| R&D Expenses | $12.9M-33.2% | $14.1M+107.8% | N/A | N/A | $19.4M | $6.8M-46.4% | N/A | N/A |
| SG&A Expenses | $72.1M+47.1% | $69.1M+238.2% | N/A | $35.2M+163.6% | $49.0M+294.2% | $20.4M+113.1% | N/A | $13.4M+152.4% |
| Operating Income | $13.3M+119.4% | -$10.3M+62.1% | N/A | -$40.7M-149.3% | -$68.4M-586.6% | -$27.2M-22.5% | N/A | -$16.3M-7.8% |
| EBITDA | $13.6M+120.0% | -$10.0M+62.8% | N/A | -$40.4M-150.1% | -$68.2M-594.9% | -$26.9M-22.2% | N/A | -$16.2M-7.9% |
| Interest Expense | $6.8M+288.3% | $10.2M+542.8% | N/A | $9.9M+2364.3% | $1.8M+137.4% | $1.6M+441.3% | N/A | $401K+245.7% |
| Income Tax | -$39K-103.8% | -$239K-131.7% | N/A | $250K+468.2% | $1.0M+227.1% | $754K+335.8% | N/A | $44K-31.3% |
| Net Income | $11.9M+116.8% | -$16.3M+36.7% | N/A | -$43.0M-192.5% | -$70.8M-704.3% | -$25.8M-54.1% | N/A | -$14.7M+6.1% |
| EPS (Basic) | $0.02+118.2% | -$0.02+50.0% | -$0.05-66.7% | -$0.07-250.0% | -$0.11-1000.0% | -$0.04-33.3% | -$0.03-200.0% | -$0.02+33.3% |
| EPS (Diluted) | $0.02+118.2% | -$0.02+50.0% | -$0.05-66.7% | -$0.07-250.0% | -$0.11-1000.0% | -$0.04-33.3% | -$0.03-200.0% | -$0.02+33.3% |
| Diluted Shares (Avg) | 727M+12.2% | 679M+5.2% | N/A | 652M+2.1% | 648M+2.2% | 646M+3.9% | N/A | 638M+17.3% |
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. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K | Q3'2310-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $572.9M+32.0% | $525.9M+81.4% | $474.2M+53.9% | $381.8M+30.5% | $434.1M+42.8% | $289.9M-10.3% | $308.1M+18.8% | $292.5M+6.4% |
| Current Assets | $548.9M+31.8% | $501.0M+84.3% | $453.6M+56.6% | $364.3M+31.7% | $416.3M+44.6% | $271.8M-11.4% | $289.7M+19.2% | $276.5M+7.0% |
| Cash & Equivalents | $438.0M+8.3% | $401.4M+57.5% | $399.8M+47.1% | $336.0M+30.6% | $404.6M+49.4% | $254.9M-12.5% | $271.8M+19.3% | $257.4M+11.1% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $8.6M | $7.2M | $6.2M | $4.3M | N/A | N/A | $0 | N/A |
| Accounts Receivable | $82.9M | $62.2M | $31.5M | $6.9M | N/A | N/A | $0 | N/A |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $545K0.0% | $545K0.0% | $545K0.0% | $545K0.0% | $545K0.0% | $545K0.0% | $545K0.0% | $545K+0.2% |
| Total Liabilities | $294.6M+10.8% | $299.3M+361.1% | $269.7M+358.3% | $251.3M+768.5% | $265.8M+762.1% | $64.9M+39.9% | $58.8M+102.9% | $28.9M-22.6% |
| Current Liabilities | $51.2M+6.0% | $56.5M+282.7% | $42.7M+391.0% | $27.9M+210.1% | $48.3M+341.6% | $14.8M-44.3% | $8.7M-54.3% | $9.0M-71.9% |
| Non-Current Liabilities | $243.4M+11.9% | $242.8M+384.1% | $227.0M+352.7% | $223.4M+1021.1% | $217.5M+993.7% | $50.1M+152.3% | $50.1M+402.8% | $19.9M+278.9% |
| Long-Term Debt | $242.4M+102.6% | $241.7M+398.0% | $120.3M+148.8% | $120.0M+502.9% | $119.7M+502.7% | $48.5M+145.1% | $48.4M+395.2% | $19.9M+295.3% |
| Total Equity | $278.3M+65.4% | $226.6M+0.7% | $204.6M-17.9% | $130.5M-50.5% | $168.3M-38.4% | $225.0M-18.7% | $249.3M+8.2% | $263.5M+11.0% |
| Retained Earnings | -$567.1M-16.9% | -$578.8M-39.7% | -$562.4M-44.8% | -$528.5M-41.3% | -$485.3M-35.1% | -$414.4M-18.4% | -$388.4M-16.6% | -$374.1M-16.0% |
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. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K | Q3'2310-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $30.6M+278.7% | -$11.6M+15.1% | -$28.8M-177.2% | -$62.7M-392.3% | -$17.1M+19.8% | -$13.6M-135.4% | -$10.4M-34.4% | -$12.7M+29.7% |
| Depreciation & Amortization | $293K+8.5% | $295K+12.2% | $259K+24.5% | $266K+71.6% | $270K+72.0% | $263K+67.5% | $208K+37.7% | $155K-1.3% |
| Stock-Based Compensation | $34.8M+123.3% | $37.5M+780.2% | N/A | $7.7M+50.7% | $15.6M+207.3% | $4.3M-0.7% | N/A | $5.1M+80.4% |
| Capital Expenditures | $0-100.0% | $535K+3243.8% | $535K | $0 | $29K | $16K | $0 | $0 |
| Free Cash Flow | $30.6M+278.4% | -$12.1M+11.2% | -$29.4M-182.4% | -$62.7M-392.3% | -$17.1M+19.6% | -$13.6M-135.7% | -$10.4M-34.4% | -$12.7M+29.7% |
| Investing Cash Flow | $0+100.0% | -$535K-3243.8% | -$535K | $0 | -$29K | -$16K | $0 | $0 |
| Financing Cash Flow | $4.9M-97.0% | $13.5M+530.9% | $94.2M+292.1% | -$7.1M-14864.6% | $166.8M+134441.9% | -$3.1M-104.5% | $24.0M+818.6% | $48K-100.0% |
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. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q | Q1'2410-Q | Q4'2310-K | Q3'2310-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 12.9% | -13.5% | N/A | -723.1% | N/A | N/A | N/A | N/A |
| Net Margin | 11.6% | -21.4% | N/A | -763.9% | N/A | N/A | N/A | N/A |
| Return on Equity | 4.3%+46.4pp | -7.2%+4.3pp | N/A | -32.9%-27.3pp | -42.1%-38.9pp | -11.5%-5.4pp | N/A | -5.6%+1.0pp |
| Return on Assets | 2.1%+18.4pp | -3.1%+5.8pp | N/A | -11.3%-6.2pp | -16.3%-13.4pp | -8.9%-3.7pp | N/A | -5.0%+0.7pp |
| Current Ratio | 10.71+2.1x | 8.86-9.5x | 10.63-22.7x | 13.03-17.7x | 8.61-17.7x | 18.40+6.8x | 33.33+20.6x | 30.68+22.6x |
| Debt-to-Equity | 0.87+0.2x | 1.07+0.9x | 0.59+0.4x | 0.92+0.8x | 0.71+0.6x | 0.22+0.1x | 0.19+0.2x | 0.08+0.1x |
| Asset Turnover | 0.18+0.2x | 0.14+0.1x | N/A | 0.010.0x | 0.00 | 0.00 | N/A | 0.000.0x |
| FCF Margin | 29.6% | -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.
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 |
|---|---|---|---|---|---|---|
| Verona Pharma plc VRNA | FY2024 | $42.3M | -$173.4M | N/A | $9.1B | 60/100 |
| Madrigal Pharmaceuticals, Inc. MDGL | FY2025 | $958.4M | -$288.3M | -30.1% | $10.4B | 70/100 |
| Halozyme Therapeutics, Inc. HALO | FY2025 | $1.4B | $316.9M | 22.7% | $13.8B | 78/100 |
| Moderna, Inc. MRNA | FY2025 | $1.9B | -$2.8B | N/A | $87.0B | 31/100 |
| Roivant Sciences Ltd. ROIV | FY2026 | $8.3M | -$299.8M | N/A | $24.2B | 66/100 |
Where Verona Pharma plc Ranks
Frequently Asked Questions
What is Verona Pharma plc's annual revenue?
Verona Pharma plc (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 plc profitable?
No, Verona Pharma plc (VRNA) reported a net income of -$173.4M in fiscal year 2024.
What is Verona Pharma plc's EBITDA?
Verona Pharma plc (VRNA) had EBITDA of -$153.6M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Verona Pharma plc have?
As of fiscal year 2024, Verona Pharma plc (VRNA) had $399.8M in cash and equivalents against $120.3M in long-term debt.
What is Verona Pharma plc's return on equity (ROE)?
Verona Pharma plc (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 plc's free cash flow?
Verona Pharma plc (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 plc's operating cash flow?
Verona Pharma plc (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 plc's total assets?
Verona Pharma plc (VRNA) had $474.2M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Verona Pharma plc's capital expenditures?
Verona Pharma plc (VRNA) invested $580K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Verona Pharma plc spend on research and development?
Verona Pharma plc (VRNA) invested $44.6M in research and development during fiscal year 2024.
What is Verona Pharma plc's current ratio?
Verona Pharma plc (VRNA) had a current ratio of 10.63 as of fiscal year 2024, which is generally considered healthy.
What is Verona Pharma plc's debt-to-equity ratio?
Verona Pharma plc (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 plc's return on assets (ROA)?
Verona Pharma plc (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 plc's liquidity compare with its operating cash outflow?
At the end of fiscal year 2024, Verona Pharma plc (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 plc's Altman Z-Score?
Verona Pharma plc (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 plc's Piotroski F-Score?
Verona Pharma plc (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 plc's earnings high quality?
Verona Pharma plc (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 plc cover its interest payments?
Verona Pharma plc (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 plc?
Verona Pharma plc (VRNA) scores 60 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), 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.