Windtree Therapeutics Inc Financials
This page shows Windtree Therapeutics Inc (WINT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).
Windtree’s core mechanic is funding a pre-revenue research platform with external capital while the cash engine remains deeply negative.
The most important disconnect is that reported earnings improved sharply in FY2024, with net loss narrowing to-$1.8M from-$20.3M in FY2023, yet cash and operating performance did not follow: operating cash flow moved to-$15.4M from-$13.4M and EBITDA stayed near-$26.1M . That pattern usually means the better bottom line came from items below core operations rather than from a cheaper or cash-generating business model.
Liquidity became much tighter in FY2024: cash fell to
The cost base also shows a renewed emphasis on R&D rather than broad cost cutting. Research and development almost doubled to
Financial Health Signals
Windtree 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.
Windtree Therapeutics Inc passes 1 of 6 computable financial strength tests (3 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).
Windtree Therapeutics Inc reported a net loss of $1.8M while operations used $15.4M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Windtree Therapeutics Inc reported an operating loss of $26.1M against $235K 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
Windtree Therapeutics Inc's EBITDA was -$26.1M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 27.0% from the prior year.
Windtree Therapeutics Inc reported -$1.8M in net income in fiscal year 2024. This represents an increase of 91.2% from the prior year.
Not reported for fiscal year 2024.
Not reported for fiscal year 2024.
Cash & Balance Sheet
Windtree Therapeutics Inc recorded an outflow of $15.4M in free cash flow in fiscal year 2024, representing a cash shortfall after capex. This represents a decrease of 14.6% from the prior year.
Windtree Therapeutics Inc held $1.8M in cash as of fiscal year 2024; long-term debt is not reported for that period.
Not reported for fiscal year 2024.
Margins & Returns
Windtree Therapeutics Inc's ROE was -17.9% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 580.5 percentage points from the prior year.
Not reported for fiscal year 2024.
Not reported for fiscal year 2024.
Not reported for fiscal year 2024.
Capital Allocation
Windtree Therapeutics Inc invested $16.3M in research and development in fiscal year 2024. This represents an increase of 95.1% from the prior year.
Windtree Therapeutics Inc invested $12K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 20.0% from the prior year.
Not reported for fiscal year 2024.
WINT Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 | FY10 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | N/A | N/A | $198K-88.9% | $1.8M+20.4% | $1.5M-27.3% | $2.0M+106.9% | $987K-65.2% | $2.8M+630.7% | $388K+99.0% | $195K | N/A | N/A |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $929K-65.2% | $2.7M+416.6% | $517K | $0 | $0 | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $58K-64.6% | $164K+227.1% | -$129K-166.2% | $195K | N/A | N/A |
| R&D Expenses | N/A | $16.3M+95.1% | $8.3M-24.8% | $11.1M-37.6% | $17.8M+15.7% | $15.4M+21.2% | $12.7M+20.1% | $10.6M | N/A | $31.7M+9.8% | $28.9M+8.2% | $26.7M-3.5% | $27.7M+28.2% | $21.6M+25.2% | $17.2M+0.5% | $17.1M |
| SG&A Expenses | N/A | $8.7M-4.9% | $9.2M-14.8% | $10.8M-25.4% | $14.5M-3.2% | $14.9M+20.5% | $12.4M+67.1% | $7.4M+11.5% | $6.7M-20.5% | $8.4M-23.9% | $11.0M-34.2% | $16.7M+0.1% | $16.7M+1.7% | $16.4M+109.1% | $7.9M-6.3% | $8.4M |
| Operating Income | N/A | -$26.1M-26.9% | -$20.6M+50.2% | -$41.3M+46.5% | -$77.3M-154.9% | -$30.3M-21.8% | -$24.9M-53.7% | -$16.2M | N/A | -$38.0M+4.5% | -$39.8M+7.9% | -$43.3M+2.8% | -$44.5M-17.7% | -$37.8M-54.3% | -$24.5M+4.0% | -$25.5M |
| Interest Expense | N/A | $235K+370.0% | $50K-5.7% | $53K-53.5% | $114K-8.8% | $125K-74.7% | $495K-64.9% | $1.4M-24.4% | $1.9M-26.0% | $2.5M-45.1% | $4.6M-0.2% | $4.6M+50922.2% | $9K-30.8% | $13K-35.0% | $20K-94.4% | $357K |
| Income Tax | N/A | -$6K | $0+100.0% | -$1.4M+86.3% | -$10.0M | $0 | N/A | N/A | N/A | N/A | $0 | $0 | $0 | $0 | N/A | N/A |
| Net Income | N/A | -$1.8M+91.2% | -$20.3M+48.2% | -$39.2M+42.0% | -$67.6M-107.7% | -$32.6M-18.5% | -$27.5M-33.8% | -$20.5M | N/A | -$39.5M+28.4% | -$55.2M-25.2% | -$44.1M+2.6% | -$45.2M-21.2% | -$37.3M-78.0% | -$21.0M-9.3% | -$19.2M |
| EPS (Diluted) | — | N/A | N/A | N/A | N/A | N/A | N/A | -$7.74 | -$24.14 | -$4.74 | -$7.98-1.8% | -$7.84 | -$0.82 | -$0.95 | N/A | N/A |
TTM is the trailing twelve months, Q4 FY2024 through Q3 FY2025, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
WINT Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 | FY10 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $27.9M-14.0% | $32.4M-14.6% | $38.0M-49.3% | $74.8M-33.7% | $112.9M-5.1% | $119.0M-0.4% | $119.4M+3467.3% | $3.3M-65.5% | $9.7M-78.1% | $44.4M-6.6% | $47.5M-46.8% | $89.3M+198.3% | $29.9M+124.7% | $13.3M-8.3% | $14.5M |
| Current Assets | $2.6M-52.1% | $5.4M-27.1% | $7.4M-68.6% | $23.5M+29.7% | $18.1M-24.1% | $23.9M-7.0% | $25.7M+1046.8% | $2.2M-68.9% | $7.2M-82.4% | $40.8M-10.5% | $45.6M-47.8% | $87.2M+213.7% | $27.8M+161.6% | $10.6M+1.3% | $10.5M |
| Cash & Equivalents | $1.8M-58.8% | $4.3M-30.0% | $6.2M-72.4% | $22.3M+32.0% | $16.9M-25.0% | $22.6M+101.8% | $11.2M+516.4% | $1.8M-67.5% | $5.6M-85.6% | $38.7M-13.4% | $44.7M-48.2% | $86.3M+220.9% | $26.9M+163.9% | $10.2M-0.2% | $10.2M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $0-100.0% | $27K-75.9% | $112K-42.6% | $195K | $0 | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $0-100.0% | $67K | $0 | N/A | N/A |
| Goodwill | N/A | $0-100.0% | $3.1M-80.5% | $15.7M0.0% | $15.7M0.0% | $15.7M0.0% | $15.7M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $14.7M-49.3% | $29.0M+3.8% | $27.9M-15.1% | $32.9M-24.1% | $43.3M-1.6% | $44.0M-14.1% | $51.3M+88.1% | $27.3M-29.2% | $38.5M+6.7% | $36.1M+27.6% | $28.3M-8.2% | $30.8M+150.7% | $12.3M+1.9% | $12.1M+41.7% | $8.5M |
| Current Liabilities | $5.7M+43.1% | $4.0M+62.6% | $2.5M-50.1% | $4.9M-19.7% | $6.1M-21.6% | $7.8M-62.1% | $20.6M+75.5% | $11.8M-12.2% | $13.4M+21.0% | $11.1M+41.4% | $7.8M-34.0% | $11.9M+1.3% | $11.7M+5.0% | $11.1M+47.1% | $7.6M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $25.0M0.0% | $25.0M+23.1% | $20.3M+10.6% | $18.4M | $0-100.0% | $224K-25.6% | $301K |
| Total Equity | $10.0M+194.8% | $3.4M-66.1% | $10.0M-76.1% | $41.9M-39.8% | $69.6M-7.2% | $74.9M+10.0% | $68.1M+384.8% | -$23.9M+17.0% | -$28.8M-448.8% | $8.3M-56.9% | $19.2M-67.2% | $58.5M+231.4% | $17.7M+1296.6% | $1.3M-79.0% | $6.0M |
| Retained Earnings | -$846.6M-0.2% | -$844.8M-2.5% | -$824.5M-5.0% | -$785.3M-9.4% | -$717.7M-4.8% | -$685.1M-4.2% | -$657.6M-3.2% | -$637.1M-3.0% | -$618.7M-6.8% | -$579.2M-10.5% | -$524.0M-9.2% | -$479.9M-10.4% | -$434.7M-9.4% | -$397.4M-5.6% | -$376.5M |
WINT 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 | TTM | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 | FY10 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$15.1M | -$15.4M-14.6% | -$13.4M+30.9% | -$19.5M+17.8% | -$23.7M+6.5% | -$25.3M-2.6% | -$24.7M-56.3% | -$15.8M | N/A | -$33.6M-0.3% | -$33.5M+18.6% | -$41.2M-1.8% | -$40.5M-23.0% | -$32.9M-44.9% | -$22.7M+6.5% | -$24.3M |
| Capital Expenditures | N/A | $12K-20.0% | $15K+15.4% | $13K-95.3% | $279K-4.1% | $291K+52.4% | $191K | N/A | $24K-91.5% | $281K-38.6% | $458K-41.3% | $780K+28.3% | $608K-4.4% | $636K+500.0% | $106K+5.0% | $101K |
| Free Cash Flow | N/A | -$15.4M-14.6% | -$13.5M+30.9% | -$19.5M+18.7% | -$23.9M+6.5% | -$25.6M-3.0% | -$24.9M | N/A | N/A | -$33.9M+0.3% | -$34.0M+19.0% | -$41.9M-2.2% | -$41.1M-22.5% | -$33.5M-47.0% | -$22.8M+6.4% | -$24.4M |
| Investing Cash Flow | N/A | -$12K+20.0% | -$15K-107.6% | $197K+170.6% | -$279K+4.1% | -$291K-102.1% | $13.8M+200.5% | -$13.7M-57095.8% | -$24K+90.6% | -$254K | N/A | N/A | -$608K+4.4% | -$636K-500.0% | -$106K-5.0% | -$101K |
| Financing Cash Flow | $19.0M | $12.7M+9.8% | $11.6M+276.6% | $3.1M-89.5% | $29.4M+47.1% | $20.0M-8.3% | $21.8M-43.8% | $38.7M | N/A | $709K | N/A | N/A | $100.5M+100.0% | $50.2M+120.5% | $22.8M+20.9% | $18.8M |
| Dividends Paid | $400K | $657K | $0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Share Buybacks.
TTM is the trailing twelve months, Q4 FY2024 through Q3 FY2025, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
WINT Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 | FY10 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 5.9%+0.1pp | 5.8%+39.0pp | -33.3%-133.3pp | 100.0% | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | -12572.2% | -905.8% | N/A | -1862.7% | -4035.9% | -1525.9% | -11471.1% | -19394.4% | N/A | N/A |
| Net Margin | N/A | N/A | N/A | N/A | N/A | -13876.3% | -1148.4% | N/A | -1933.9% | -5589.7% | -1554.1% | -11653.4% | -19135.9% | N/A | N/A |
| Return on Equity | -17.9%+580.5pp | -598.4%-206.8pp | -391.6%-230.1pp | -161.5%-114.7pp | -46.8%-10.1pp | -36.7%-6.5pp | -30.1% | N/A | N/A | -667.4%-438.0pp | -229.5%-152.2pp | -77.3%+134.1pp | -211.4%+1447.2pp | -1658.6%-1340.4pp | -318.2% |
| Return on Assets | -6.4%+56.2pp | -62.6%+40.7pp | -103.3%-12.9pp | -90.4%-61.6pp | -28.8%-5.8pp | -23.1%-5.9pp | -17.2% | N/A | -407.2%-282.8pp | -124.3%-31.6pp | -92.8%-42.1pp | -50.6%+74.0pp | -124.6%+32.7pp | -157.3%-25.4pp | -131.9% |
| Current Ratio | 0.45-0.9x | 1.35-1.7x | 3.00-1.8x | 4.77+1.8x | 2.96-0.1x | 3.05+1.8x | 1.24+1.1x | 0.19-0.3x | 0.54-3.1x | 3.69-2.1x | 5.82-1.5x | 7.36+5.0x | 2.38+1.4x | 0.95-0.4x | 1.39 |
| Debt-to-Equity | 1.47-7.1x | 8.56+5.8x | 2.79+2.0x | 0.79+0.2x | 0.620.0x | 0.59-0.2x | 0.75 | N/A | N/A | 3.02+2.0x | 1.06+0.7x | 0.31+0.3x | 0.00-0.2x | 0.18+0.1x | 0.05 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | -12552.5% | N/A | N/A | -1658.7% | -3440.9% | -1479.7% | -10583.0% | -17189.7% | N/A | N/A |
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.
Note: The current ratio is below 1.0 (0.45), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
Is Windtree Therapeutics Inc profitable?
No, Windtree Therapeutics Inc (WINT) reported a net income of -$1.8M in fiscal year 2024.
What is Windtree Therapeutics Inc's EBITDA?
Windtree Therapeutics Inc (WINT) had EBITDA of -$26.1M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Windtree Therapeutics Inc's return on equity (ROE)?
Windtree Therapeutics Inc (WINT) has a return on equity of -17.9% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Windtree Therapeutics Inc's free cash flow?
Windtree Therapeutics Inc (WINT) recorded an outflow of $15.4M in free cash flow during fiscal year 2024. This represents a -14.6% 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 Windtree Therapeutics Inc's operating cash flow?
Windtree Therapeutics Inc (WINT) recorded an outflow of $15.4M in operating cash flow during fiscal year 2024, representing cash used by core business activities.
What are Windtree Therapeutics Inc's total assets?
Windtree Therapeutics Inc (WINT) had $27.9M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Windtree Therapeutics Inc's capital expenditures?
Windtree Therapeutics Inc (WINT) invested $12K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Windtree Therapeutics Inc spend on research and development?
Windtree Therapeutics Inc (WINT) invested $16.3M in research and development during fiscal year 2024.
What is Windtree Therapeutics Inc's current ratio?
Windtree Therapeutics Inc (WINT) had a current ratio of 0.45 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.
What is Windtree Therapeutics Inc's debt-to-equity ratio?
Windtree Therapeutics Inc (WINT) had a debt-to-equity ratio of 1.47 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Windtree Therapeutics Inc's return on assets (ROA)?
Windtree Therapeutics Inc (WINT) had a return on assets of -6.4% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Windtree Therapeutics Inc's cash runway?
Based on fiscal year 2024 data, Windtree Therapeutics Inc (WINT) had $1.8M in cash against an annual operating cash burn of $15.4M. This gives an estimated cash runway of approximately 1 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 Windtree Therapeutics Inc's Piotroski F-Score?
Windtree Therapeutics Inc (WINT) has a Piotroski F-Score of 1 out of 6 computable signals; 3 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 Windtree Therapeutics Inc's earnings high quality?
Windtree Therapeutics Inc (WINT) reported a net loss of $1.8M while operations used $15.4M 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 Windtree Therapeutics Inc cover its interest payments?
Windtree Therapeutics Inc (WINT) reported an operating loss of $26.1M against $235K 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.