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Vyne Therapeutics Inc Financials

VYNE
FY2025 annual
Revenue $570K +13.8% YoY
Net Income -$26.5M +33.5% YoY
EPS (Diluted) -$0.62 YoY not available
Free Cash Flow -$33.1M +2.8% YoY
Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Currency USD FYE December

Vyne Therapeutics Inc (VYNE) reported $570K in revenue for fiscal year 2025, up 13.8% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 11 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 VYNE FY2025

Development-stage spending dominates: reduced research investment narrowed losses, but operating cash use still tracks reported deficits.

R&D fell from $30.9M to $19.2M between FY2024 and FY2025, while the operating loss narrowed. Revenue stayed below $1M in both years, indicating cost reduction—not commercial scale drove the improvement.

Operating cash flow was -$33.1M against net income of -$26.5M, so the income statement understated the cash consumed by the business. Cash conversion is therefore negative: the reported loss reflects cash use, not merely non-cash accounting effects.

Liabilities fell to $2.4M while assets fell to $30.2M, leaving a 12.5x current ratio but a much smaller balance-sheet base. The share count more than doubled from FY2024 to FY2025, so the lower per-share loss came alongside a materially expanded share count rather than solely from improved operations.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Financial health score not available

Vyne 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.

Altman Z-Score Distress
-32.53

Vyne Therapeutics Inc scores -32.53, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($19.1M) relative to total liabilities ($2.4M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial
2/8

Vyne Therapeutics Inc passes 2 of 8 computable financial strength tests (1 of the nine could not be computed from available data). No profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality No Cash Backing
N/A

Vyne Therapeutics Inc reported a net loss of $26.5M while operations used $33.1M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Key Financial Metrics

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Earnings & Revenue

Revenue
$570K
YoY+13.8%
5Y CAGR-51.4%

Vyne Therapeutics Inc generated $570K in revenue in fiscal year 2025. This represents an increase of 13.8% from the prior year.

EBITDA
-$29.7M
YoY+31.9%

Vyne Therapeutics Inc's EBITDA was -$29.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 31.9% from the prior year.

Net Income
-$26.5M
YoY+33.5%

Vyne Therapeutics Inc reported -$26.5M in net income in fiscal year 2025. This represents an increase of 33.5% from the prior year.

EPS (Diluted)
-$0.62

Vyne Therapeutics Inc earned -$0.62 per diluted share (EPS) in fiscal year 2025.

Cash & Balance Sheet

Free Cash Flow
-$33.1M
YoY+2.8%

Vyne Therapeutics Inc recorded an outflow of $33.1M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents an increase of 2.8% from the prior year.

Cash & Debt
$24.0M
YoY+20.6%
5Y CAGR-16.0%
10Y CAGR-5.8%

Vyne Therapeutics Inc held $24.0M in cash against $0 in long-term debt as of fiscal year 2025.

Shares Outstanding
33M

Vyne Therapeutics Inc had 33M shares outstanding in fiscal year 2025.

Dividends Per Share

Not reported for fiscal year 2025.

Margins & Returns

Return on Equity
-95.4%
YoY-18.9pp
5Y CAGR+586.3pp

Vyne Therapeutics Inc's ROE was -95.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 18.9 percentage points from the prior year.

Gross Margin

Not reported for fiscal year 2025.

Operating Margin

Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Net Margin

Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Capital Allocation

R&D Spending
$19.2M
YoY-37.8%
5Y CAGR-15.1%
10Y CAGR+20.7%

Vyne Therapeutics Inc invested $19.2M in research and development in fiscal year 2025. This represents a decrease of 37.8% from the prior year.

Capital Expenditures
$0
YoY-100.0%

Vyne Therapeutics Inc reported no capital expenditure in fiscal year 2025. This represents a decrease of 100.0% from the prior year.

Share Buybacks

Not reported for fiscal year 2025.

VYNE Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

VYNE quarterly income statement
MetricQ2'26Q1'26Q4'25Q2'25Q1'25Q4'24Q3'24Q2'24
Revenue$97K+12.8%$86KN/A$69K-65.8%$202K+140.5%$84K-30.6%$121K-38.9%$198K
R&D Expenses$788K-3.5%$817KN/A$4.9M-20.3%$6.1M-36.8%$9.7M-5.5%$10.2M+40.3%$7.3M
SG&A Expenses$2.4M-21.8%$3.1MN/A$2.7M-16.6%$3.3M+3.3%$3.2M+7.0%$3.0M-9.9%$3.3M
Operating Income-$3.1M+18.7%-$3.8MN/A-$7.5M+18.0%-$9.2M+28.0%-$12.8M+2.5%-$13.1M-25.9%-$10.4M
Income Tax$0$0N/A$0$0-100.0%$4K$0$0
Net Income-$3.0M+16.1%-$3.6MN/A-$5.8M+33.2%-$8.6M+28.4%-$12.0M+1.1%-$12.2M-29.2%-$9.4M
EPS (Diluted)-$3.51-$0.08N/A-$6.73-$0.20N/A-$0.29-31.8%-$0.22

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, Interest Expense.

VYNE Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

VYNE quarterly balance sheet
MetricQ2'26Q1'26Q4'25Q2'25Q1'25Q4'24Q3'24Q2'24
Total Assets$23.6M-8.8%$25.9M-14.2%$30.2M-32.6%$44.7M-20.7%$56.4M-15.7%$66.9M-12.2%$76.2M-12.1%$86.6M
Current Assets$23.5M-8.8%$25.8M-14.1%$30.0M-32.3%$44.3M-19.2%$54.9M-14.8%$64.4M-12.4%$73.5M-12.2%$83.8M
Cash & Equivalents$22.9M-6.9%$24.6M+2.5%$24.0M+9.0%$22.0M-21.8%$28.2M+41.6%$19.9M+22.5%$16.3M-45.0%$29.6M
Total Liabilities$1.5M+24.8%$1.2M-48.4%$2.4M-59.0%$5.8M-52.5%$12.3M-17.1%$14.8M+17.0%$12.7M+7.5%$11.8M
Current Liabilities$1.5M+24.8%$1.2M-48.4%$2.4M-59.0%$5.8M-52.5%$12.3M-17.1%$14.8M+17.0%$12.7M+7.7%$11.8M
Long-Term Debt$0$0$0$0$0$0$0$0
Total Equity$22.1M-10.5%$24.6M-11.3%$27.8M-28.6%$38.9M-11.9%$44.1M-15.3%$52.1M-18.0%$63.5M-15.1%$74.9M
Retained Earnings-$764.2M-0.4%-$761.2M-0.5%-$757.7M-1.6%-$745.5M-0.8%-$739.8M-1.2%-$731.2M-1.7%-$719.1M-1.7%-$707.0M

Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill.

VYNE Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

VYNE quarterly cash flow statement
MetricQ2'26Q1'26Q4'25Q2'25Q1'25Q4'24Q3'24Q2'24
Operating Cash Flow-$2.0M+51.2%-$4.1MN/A-$10.8M+5.7%-$11.5M-27.4%-$9.0M-5.7%-$8.5M-0.3%-$8.5M
Investing Cash Flow$300K-93.6%$4.7MN/A$4.7M-76.4%$19.8M+55.7%$12.7M+364.1%-$4.8M-125.4%$19.0M
Financing Cash Flow-$14K+6.7%-$15KN/A-$34K+60.9%-$87K+34.1%-$132K-6500.0%-$2K0.0%-$2K

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.

VYNE Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

VYNE quarterly financial ratios
MetricQ2'26Q1'26Q4'25Q2'25Q1'25Q4'24Q3'24Q2'24
Operating Margin-3197.9%-4437.2%N/A-10930.4%-4553.0%-15202.4%-10819.0%-5250.5%
Net Margin-3100.0%-4168.6%N/A-8340.6%-4262.9%-14311.9%-10047.1%-4750.5%
Return on Equity-13.6%+0.9pp-14.5%N/A-14.8%+4.7pp-19.5%+3.6pp-23.1%-4.0pp-19.1%-6.6pp-12.6%
Return on Assets-12.7%+1.1pp-13.9%N/A-12.9%+2.4pp-15.3%+2.7pp-18.0%-2.0pp-16.0%-5.1pp-10.9%
Current Ratio15.26-5.6x20.86+8.3x12.53+4.9x7.60+3.1x4.47+0.1x4.35-1.5x5.81-1.3x7.13
Debt-to-Equity0.000.0x0.000.0x0.000.0x0.000.0x0.000.0x0.000.0x0.000.0x0.00

Not reported in any period shown, so not listed: Gross Margin, FCF 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.

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Frequently Asked Questions

What is Vyne Therapeutics Inc's annual revenue?

Vyne Therapeutics Inc (VYNE) reported $570K in total revenue for fiscal year 2025. This represents a 13.8% 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 Vyne Therapeutics Inc's revenue growing?

Vyne Therapeutics Inc (VYNE) revenue grew by 13.8% year-over-year, from $501K to $570K in fiscal year 2025.

Is Vyne Therapeutics Inc profitable?

No, Vyne Therapeutics Inc (VYNE) reported a net income of -$26.5M in fiscal year 2025.

Vyne Therapeutics Inc (VYNE) reported diluted earnings per share of -$0.62 for fiscal year 2025. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Vyne Therapeutics Inc (VYNE) had EBITDA of -$29.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Vyne Therapeutics Inc (VYNE) had $24.0M in cash and equivalents against $0 in long-term debt.

Vyne Therapeutics Inc (VYNE) has a return on equity of -95.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Vyne Therapeutics Inc (VYNE) recorded an outflow of $33.1M in free cash flow during fiscal year 2025. This represents a 2.8% 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.

Vyne Therapeutics Inc (VYNE) recorded an outflow of $33.1M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

Vyne Therapeutics Inc (VYNE) had $30.2M in total assets as of fiscal year 2025, including both current and long-term assets.

Vyne Therapeutics Inc (VYNE) reported no capital expenditure during fiscal year 2025.

Vyne Therapeutics Inc (VYNE) invested $19.2M in research and development during fiscal year 2025.

Vyne Therapeutics Inc (VYNE) had 33M shares outstanding as of fiscal year 2025.

Vyne Therapeutics Inc (VYNE) had a current ratio of 12.53 as of fiscal year 2025, which is generally considered healthy.

Vyne Therapeutics Inc (VYNE) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Vyne Therapeutics Inc (VYNE) had a return on assets of -87.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Vyne Therapeutics Inc (VYNE) has an Altman Z-Score of -32.53, placing it in the Distress Zone (elevated 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.

Vyne Therapeutics Inc (VYNE) 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.

Vyne Therapeutics Inc (VYNE) reported a net loss of $26.5M while operations used $33.1M 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.

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