Vtv Therapeutics Financials

VTVT

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Vtv Therapeutics (VTVT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 13 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).

Rhea AI VTVT FY2025 2026-05-13

vTv’s dominant business mechanic is equity-funded R&D, with cash raising outrunning operating burn and dwarfing any revenue base.

External financing, not commercial revenue, is funding the company’s operating model: after burning about $25.3M in operations in both FY2024 and FY2025, it brought in roughly $130.0M of financing cash across those two years. That imbalance rebuilt the balance sheet from a prior capital deficit to positive equity of $64.4M and lifted cash to $88.9M, so fundraising is doing the economic heavy lifting that sales are not.

With $88.9M of cash against just $6.6M of current liabilities, short-term liquidity looks strong even though the business remains unprofitable. Put differently, the immediate operating question is how fast cash is consumed, not whether routine obligations can be met in the near term.

The loss is largely a cash loss, not just a non-cash accounting result: FY2025 net loss of $27.0M was close to operating cash outflow of $25.3M. R&D spending also ran above SG&A, indicating the cost structure is still centered on development work rather than supporting a broad commercial infrastructure.

Financial Health Signals

Financial Profile 32/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Vtv Therapeutics'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.

Leverage

Vtv Therapeutics carries a low D/E ratio of 0.40, meaning only $0.40 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 94/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

100

With a current ratio of 13.54, Vtv Therapeutics holds $13.54 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Returns

Vtv Therapeutics generates a -41.9% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -151.3% the prior year.

Piotroski F-Score Weak

3/9

Vtv Therapeutics passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Low Quality

0.94x

For every $1 of reported earnings, Vtv Therapeutics generates $0.94 in operating cash flow (-$25.3M OCF vs -$27.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-5468.0x

Vtv Therapeutics earns $-5468.0 in operating income for every $1 of interest expense (-$32.8M vs $6K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

YoY-100.0%

Vtv Therapeutics generated $0 in revenue in fiscal year 2025. This represents a decrease of 100.0% from the prior year.

EBITDA

-$32.8M

YoY-36.1%

Vtv Therapeutics's EBITDA was -$32.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 36.1% from the prior year.

Net Income

-$27.0M

YoY-46.1%

Vtv Therapeutics reported -$27.0M in net income in fiscal year 2025. This represents a decrease of 46.1% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$88.9M

YoY+142.0%

5Y CAGR+73.0%

10Y CAGR+0.1%

Vtv Therapeutics held $88.9M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-41.9%

YoY+109.5pp

Vtv Therapeutics's ROE was -41.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 109.5 percentage points from the prior year.

Capital Allocation

R&D Spending

$17.9M

YoY+54.7%

5Y CAGR+10.1%

10Y CAGR-4.1%

Vtv Therapeutics invested $17.9M in research and development in fiscal year 2025. This represents an increase of 54.7% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

VTVT Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$0-100.0%	$1.0M	$0-100.0%	$2.0M-49.6%	$4.0M-37.6%	$6.4M
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	$17.9M+54.7%	$11.5M-15.1%	$13.6M+10.0%	$12.4M-7.3%	$13.3M+21.0%	$11.0M
SG&A Expenses	$14.9M+9.5%	$13.7M+14.6%	$11.9M-2.4%	$12.2M-1.2%	$12.3M+70.2%	$7.3M
Operating Income	-$32.8M-35.7%	-$24.2M+5.2%	-$25.5M-13.1%	-$22.5M-4.1%	-$21.7M-82.8%	-$11.9M
Interest Expense	$6K	$0-100.0%	$13K-13.3%	$15K+25.0%	$12K-98.3%	$692K
Income Tax	$0-100.0%	$100K	$0-100.0%	$200K+73.9%	$115K	$0
Net Income	-$27.0M-46.1%	-$18.5M+8.8%	-$20.3M-5.7%	-$19.2M-47.6%	-$13.0M-52.8%	-$8.5M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$36.8M	N/A	$0	$0	$0	N/A	$0	$0
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	$9.0M	N/A	$7.0M+71.1%	$4.1M+45.0%	$2.8M	N/A	$3.2M-6.3%	$3.4M
SG&A Expenses	$4.6M	N/A	$3.7M+1.7%	$3.6M-1.5%	$3.7M	N/A	$3.3M-11.7%	$3.7M
Operating Income	$23.3M	N/A	-$10.7M-38.6%	-$7.7M-18.7%	-$6.5M	N/A	-$6.5M+9.1%	-$7.2M
Interest Expense	N/A	N/A	$5K	N/A	N/A	N/A	$0	$0
Income Tax	$0	N/A	$0	$0	$0	N/A	$0	$0
Net Income	$24.1M	N/A	-$8.7M-43.9%	-$6.0M-18.7%	-$5.1M	N/A	-$4.8M+7.7%	-$5.2M
EPS (Diluted)	$1.65	N/A	N/A	N/A	N/A	N/A	N/A	N/A

VTVT Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$89.9M+134.9%	$38.3M+247.3%	$11.0M-66.9%	$33.2M+30.5%	$25.5M+72.2%	$14.8M
Current Assets	$89.9M+135.9%	$38.1M+257.6%	$10.7M-60.7%	$27.1M+73.4%	$15.6M+116.5%	$7.2M
Cash & Equivalents	$88.9M+142.0%	$36.7M+289.0%	$9.4M-22.1%	$12.1M-9.6%	$13.4M+133.4%	$5.7M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	$62K-39.2%	$102K-41.0%	$173K+203.5%	$57K-63.9%	$158K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$25.5M+6.2%	$24.0M-32.9%	$35.7M-18.8%	$44.0M+24.9%	$35.2M-62.9%	$94.9M
Current Liabilities	$6.6M+27.8%	$5.2M-51.1%	$10.6M+37.8%	$7.7M-9.3%	$8.5M+33.0%	$6.4M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$64.4M+428.2%	$12.2M+149.4%	-$24.7M-129.8%	-$10.7M-10.3%	-$9.7M+87.8%	-$80.1M
Retained Earnings	-$326.7M-9.0%	-$299.7M-6.6%	-$281.0M-5.8%	-$265.5M-6.7%	-$248.8M+14.2%	-$290.0M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$98.8M+9.9%	$89.9M-9.6%	$99.5M+276.2%	$26.4M-17.4%	$32.0M-16.3%	$38.3M-11.3%	$43.2M-7.1%	$46.5M
Current Assets	$98.8M+9.9%	$89.9M-9.6%	$99.5M+277.1%	$26.4M-17.4%	$31.9M-16.3%	$38.1M-11.3%	$43.0M-7.0%	$46.2M
Cash & Equivalents	$98.1M+10.3%	$88.9M-9.7%	$98.5M+280.0%	$25.9M-16.5%	$31.1M-15.5%	$36.7M-11.6%	$41.6M-8.7%	$45.5M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	$62K-74.4%	$242K-20.9%	$306K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$8.9M-65.2%	$25.5M-12.1%	$29.0M+20.4%	$24.0M+3.9%	$23.1M-3.5%	$24.0M-5.1%	$25.3M-3.0%	$26.0M
Current Liabilities	$6.9M+3.6%	$6.6M-34.7%	$10.2M+91.9%	$5.3M+22.7%	$4.3M-16.9%	$5.2M-19.1%	$6.4M-8.0%	$7.0M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$90.0M+39.6%	$64.4M-8.7%	$70.5M+2454.1%	$2.8M-65.1%	$7.9M-35.1%	$12.2M-18.7%	$15.0M-8.9%	$16.5M
Retained Earnings	-$302.6M+7.4%	-$326.7M-2.2%	-$319.6M-2.8%	-$310.9M-2.0%	-$304.8M-1.7%	-$299.7M-1.2%	-$296.1M-1.6%	-$291.3M

VTVT Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$25.3M+0.2%	-$25.3M-32.6%	-$19.1M-19.1%	-$16.0M+17.0%	-$19.3M-7.3%	-$18.0M
Capital Expenditures	N/A	$0	$0-100.0%	$21K	$0	$0
Free Cash Flow	N/A	-$25.3M-32.6%	-$19.1M-18.9%	-$16.0M+16.9%	-$19.3M-7.3%	-$18.0M
Investing Cash Flow	$0	$0-100.0%	$4.4M+21071.4%	-$21K	$0	$0
Financing Cash Flow	$77.4M+47.2%	$52.6M+338.5%	$12.0M-18.7%	$14.8M-45.3%	$27.0M+38.6%	$19.5M
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	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	$9.2M+199.0%	-$9.3M-77.2%	-$5.2M-2.5%	-$5.1M+10.4%	-$5.7M-17.9%	-$4.8M+24.8%	-$6.4M+4.6%	-$6.7M
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	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	-$321K-100.4%	$77.8M+185347.6%	-$42K	$0	$0-100.0%	$2.5M	$0
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

VTVT 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	N/A	-2377.6%	N/A	-1116.9%-576.1pp	-540.9%-356.1pp	-184.8%
Net Margin	N/A	-1815.3%	N/A	-949.6%-625.4pp	-324.3%-191.8pp	-132.5%
Return on Equity	-41.9%+109.5pp	-151.3%	N/A	N/A	N/A	N/A
Return on Assets	-30.0%+18.3pp	-48.3%+135.5pp	-183.8%-126.1pp	-57.7%-6.7pp	-51.0%+6.5pp	-57.5%
Current Ratio	13.54+6.2	7.34+6.3	1.00-2.5	3.52+1.7	1.84+0.7	1.13
Debt-to-Equity	0.40-1.6	1.96+3.4	-1.45+2.6	-4.09-0.5	-3.62-2.4	-1.18
FCF Margin	N/A	-2488.4%	N/A	-795.0%-312.9pp	-482.1%-201.5pp	-280.6%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	63.1%	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	65.5%	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	26.8%	N/A	-12.3%+206.6pp	-218.9%-154.6pp	-64.3%	N/A	-31.9%-0.4pp	-31.4%
Return on Assets	24.4%	N/A	-8.7%+14.1pp	-22.9%-7.0pp	-15.9%	N/A	-11.1%+0.1pp	-11.2%
Current Ratio	14.36+0.8	13.54+3.8	9.79+4.8	4.98-2.4	7.39+0.1	7.34+0.6	6.69+0.1	6.61
Debt-to-Equity	0.10-0.3	0.40-0.0	0.41-8.3	8.70+5.8	2.92+1.0	1.96+0.3	1.68+0.1	1.58
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 Vtv Therapeutics's annual revenue?

Vtv Therapeutics (VTVT) reported $0 in total revenue for fiscal year 2025. This represents a -100.0% 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 Vtv Therapeutics's revenue growing?

Vtv Therapeutics (VTVT) revenue declined by 100% year-over-year, from $1.0M to $0 in fiscal year 2025.

Is Vtv Therapeutics profitable?

No, Vtv Therapeutics (VTVT) reported a net income of -$27.0M in fiscal year 2025.

What is Vtv Therapeutics's EBITDA?

Vtv Therapeutics (VTVT) had EBITDA of -$32.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Vtv Therapeutics's return on equity (ROE)?

Vtv Therapeutics (VTVT) has a return on equity of -41.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Vtv Therapeutics's operating cash flow?

Vtv Therapeutics (VTVT) generated -$25.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Vtv Therapeutics's total assets?

Vtv Therapeutics (VTVT) had $89.9M in total assets as of fiscal year 2025, including both current and long-term assets.

How much does Vtv Therapeutics spend on research and development?

Vtv Therapeutics (VTVT) invested $17.9M in research and development during fiscal year 2025.

What is Vtv Therapeutics's current ratio?

Vtv Therapeutics (VTVT) had a current ratio of 13.54 as of fiscal year 2025, which is generally considered healthy.

What is Vtv Therapeutics's debt-to-equity ratio?

Vtv Therapeutics (VTVT) had a debt-to-equity ratio of 0.40 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Vtv Therapeutics's return on assets (ROA)?

Vtv Therapeutics (VTVT) had a return on assets of -30.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Vtv Therapeutics's cash runway?

Based on fiscal year 2025 data, Vtv Therapeutics (VTVT) had $88.9M in cash against an annual operating cash burn of $25.3M. This gives an estimated cash runway of approximately 42 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 Vtv Therapeutics's Piotroski F-Score?

Vtv Therapeutics (VTVT) has a Piotroski F-Score of 3 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Vtv Therapeutics's earnings high quality?

Vtv Therapeutics (VTVT) has an earnings quality ratio of 0.94x, 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.

Can Vtv Therapeutics cover its interest payments?

Vtv Therapeutics (VTVT) has an interest coverage ratio of -5468.0x, meaning it can struggle to cover its interest obligations. 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 Vtv Therapeutics?

Vtv Therapeutics (VTVT) scores 32 out of 100 on our Financial Profile, indicating weak 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.