Xbiotech Financials

XBIT

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Piotroski F-Score Weak

1/9

Xbiotech passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality Low Quality

0.80x

For every $1 of reported earnings, Xbiotech generates $0.80 in operating cash flow (-$31.0M OCF vs -$38.5M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

This page shows Xbiotech (XBIT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 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).

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Key Financial Metrics

Revenue

N/A

EBITDA

-$40.7M

YoY-13.9%

Xbiotech's EBITDA was -$40.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 13.9% from the prior year.

Free Cash Flow

-$32.3M

YoY-69.1%

Xbiotech generated -$32.3M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 69.1% from the prior year.

Net Income

-$38.5M

YoY-56.9%

Xbiotech reported -$38.5M in net income in fiscal year 2024. This represents a decrease of 56.9% from the prior year.

EPS (Diluted)

$-1.26

YoY-55.6%

Xbiotech earned $-1.26 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 55.6% from the prior year.

Cash & Debt

$172.7M

YoY-13.7%

5Y CAGR-24.7%

10Y CAGR+11.7%

Xbiotech held $172.7M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

30M

YoY+0.2%

5Y CAGR-6.0%

10Y CAGR+1.0%

Xbiotech had 30M shares outstanding in fiscal year 2024. This represents an increase of 0.2% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

R&D Spending

$37.8M

YoY+14.9%

5Y CAGR+9.4%

10Y CAGR+10.2%

Xbiotech invested $37.8M in research and development in fiscal year 2024. This represents an increase of 14.9% from the prior year.

Share Buybacks

YoY-100.0%

Xbiotech spent $0 on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.

Capital Expenditures

$1.3M

YoY+260.2%

5Y CAGR+44.9%

10Y CAGR-0.7%

Xbiotech invested $1.3M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 260.2% from the prior year.

XBIT Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	N/A	$0-100.0%	$4.0M-78.2%	$18.4M-58.2%	$44.0M	$0
Cost of Revenue	N/A	$0-100.0%	$651K-88.8%	$5.8M-83.2%	$34.5M	$0
Gross Profit	N/A	$0-100.0%	$3.4M-73.3%	$12.6M+33.1%	$9.4M	$0
R&D Expenses	$37.8M+14.9%	$32.8M+4.1%	$31.5M+11.6%	$28.3M+196.7%	$9.5M-60.5%	$24.1M
SG&A Expenses	$4.7M+1.1%	$4.7M-26.1%	$6.3M-32.8%	$9.4M-48.4%	$18.2M+154.8%	$7.1M
Operating Income	-$42.5M-13.2%	-$37.5M-8.8%	-$34.5M-37.5%	-$25.1M-37.2%	-$18.3M+41.5%	-$31.2M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	-$32K-113.1%	$244K+135.5%	-$688K+91.4%	-$8.0M-400.9%	-$1.6M-103.2%	$49.8M
Net Income	-$38.5M-56.9%	-$24.6M+25.4%	-$32.9M-88.9%	-$17.4M-55.2%	-$11.2M-101.7%	$668.6M
EPS (Diluted)	$-1.26-55.6%	$-0.81+25.0%	$-1.08-86.2%	$-0.58-61.1%	$-0.36-102.5%	$14.44

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	$0	$0
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	$0	$0
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	$0	$0
R&D Expenses	$5.1M-4.8%	$5.3M-54.1%	$11.6M+63.0%	$7.1M-45.1%	$13.0M+32.2%	$9.8M+25.9%	$7.8M+3.4%	$7.5M
SG&A Expenses	$967K-3.3%	$1.0M-48.2%	$1.9M+148.5%	$777K-60.8%	$2.0M+92.8%	$1.0M+31.5%	$782K-19.6%	$973K
Operating Income	-$6.0M+4.6%	-$6.3M+53.2%	-$13.6M-71.4%	-$7.9M+47.2%	-$15.0M-37.9%	-$10.9M-26.4%	-$8.6M-0.8%	-$8.5M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$102K+264.3%	$28K-3.4%	$29K+222.2%	$9K+136.0%	-$25K-200.0%	$25K+114.5%	-$172K-155.8%	$308K
Net Income	-$6.0M-242.1%	-$1.8M+83.9%	-$10.9M-117.0%	-$5.0M+61.4%	-$13.0M-30.0%	-$10.0M-115.8%	-$4.6M+37.1%	-$7.4M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

XBIT Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$199.1M-12.1%	$226.6M-7.9%	$246.1M-10.6%	$275.2M-22.2%	$353.7M-56.7%	$816.9M
Current Assets	$174.6M-13.5%	$201.7M-8.2%	$219.8M-10.9%	$246.9M-24.2%	$325.9M-54.5%	$716.3M
Cash & Equivalents	$172.7M-13.7%	$200.0M+27.2%	$157.3M-33.6%	$237.0M-0.2%	$237.4M-66.8%	$714.6M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$700K-18.6%	$860K-29.3%	$1.2M	$0-100.0%	$4.1M	$0
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$16.8M+116.6%	$7.8M+36.3%	$5.7M-1.6%	$5.8M+13.5%	$5.1M-91.7%	$61.2M
Current Liabilities	$15.1M+147.6%	$6.1M+50.0%	$4.1M+17.8%	$3.5M-13.3%	$4.0M-93.4%	$60.2M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$182.3M-16.7%	$218.8M-9.0%	$240.4M-10.8%	$269.4M-22.7%	$348.6M-53.9%	$755.6M
Retained Earnings	-$90.8M-73.7%	-$52.3M-88.5%	-$27.7M-638.7%	$5.2M-94.7%	$97.6M-77.4%	$430.9M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$172.4M-3.5%	$178.7M-1.7%	$181.9M-8.7%	$199.1M-7.6%	$215.6M-5.4%	$227.9M+0.5%	$226.6M-1.3%	$229.6M
Current Assets	$149.0M-3.8%	$154.9M-1.8%	$157.7M-9.7%	$174.6M-8.4%	$190.6M-6.1%	$203.1M+0.7%	$201.7M-1.3%	$204.4M
Cash & Equivalents	$147.4M-3.6%	$152.9M-1.9%	$155.9M-9.7%	$172.7M-8.4%	$188.5M-6.2%	$201.0M+0.5%	$200.0M-1.1%	$202.2M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$450K-6.3%	$480K0.0%	$480K-31.4%	$700K-19.5%	$870K0.0%	$870K+1.2%	$860K-2.4%	$881K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$5.3M-4.9%	$5.6M-21.4%	$7.2M-57.5%	$16.8M-10.8%	$18.9M+1.5%	$18.6M+139.1%	$7.8M+11.9%	$6.9M
Current Liabilities	$3.6M-7.6%	$3.9M-28.7%	$5.4M-64.2%	$15.1M-11.8%	$17.1M+1.5%	$16.9M+176.8%	$6.1M+15.2%	$5.3M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$167.1M-3.5%	$173.1M-0.9%	$174.7M-4.1%	$182.3M-7.3%	$196.7M-6.0%	$209.3M-4.4%	$218.8M-1.7%	$222.7M
Retained Earnings	-$109.5M-5.8%	-$103.5M-1.7%	-$101.7M-12.0%	-$90.8M-20.6%	-$75.3M-20.9%	-$62.3M-19.1%	-$52.3M-9.7%	-$47.7M

XBIT Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$31.0M-65.4%	-$18.7M-26.3%	-$14.8M-121.3%	$69.4M+206.6%	-$65.1M-256.6%	-$18.3M
Capital Expenditures	$1.3M+260.2%	$362K-38.1%	$585K-83.4%	$3.5M-5.4%	$3.7M+1727.0%	$204K
Free Cash Flow	-$32.3M-69.1%	-$19.1M-23.9%	-$15.4M-123.4%	$65.9M+195.7%	-$68.9M-272.8%	-$18.5M
Investing Cash Flow	-$1.3M-102.1%	$61.5M+196.3%	-$63.9M-1712.5%	-$3.5M+5.4%	-$3.7M-100.6%	$674.8M
Financing Cash Flow	$10.4M+116211.1%	-$9K	$0+100.0%	-$67.0M+83.6%	-$409.7M-1073.3%	$42.1M
Dividends Paid	N/A	N/A	$0-100.0%	$75.0M	$0	$0
Share Buybacks	$0-100.0%	$14K	$0	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	-$4.3M+28.9%	-$6.0M+10.9%	-$6.7M-2.8%	-$6.5M+42.5%	-$11.4M-58.0%	-$7.2M-109.8%	-$3.4M-130.9%	-$1.5M
Capital Expenditures	$110K+115.7%	$51K-45.7%	$94K+11.9%	$84K-86.6%	$627K+145.9%	$255K+121.7%	$115K+248.5%	$33K
Free Cash Flow	-$4.4M+27.7%	-$6.0M+11.4%	-$6.8M-2.9%	-$6.6M+44.8%	-$12.0M-61.0%	-$7.5M-110.2%	-$3.5M-133.4%	-$1.5M
Investing Cash Flow	-$110K-115.7%	-$51K+45.7%	-$94K-11.9%	-$84K+86.6%	-$627K-145.9%	-$255K-121.7%	-$115K-100.2%	$61.8M
Financing Cash Flow	$0	$0+100.0%	-$10.3M-3721.9%	$283K+489.6%	$48K-99.5%	$10.1M	$0-100.0%	$5K
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	$0	N/A	N/A	$0	$0

XBIT Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	83.8%+15.4pp	68.4%+46.9pp	21.5%	N/A
Operating Margin	N/A	N/A	-860.1%-723.7pp	-136.4%-94.8pp	-41.5%	N/A
Net Margin	N/A	N/A	-820.4%-725.8pp	-94.7%-69.2pp	-25.5%	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	88.5%
Return on Assets	-19.4%-8.5pp	-10.8%+2.5pp	-13.4%-7.0pp	-6.3%-3.2pp	-3.2%-85.0pp	81.8%
Current Ratio	11.56-21.5	33.07-21.0	54.07-17.4	71.49-10.3	81.80+69.9	11.90
Debt-to-Equity	0.09+0.1	0.04+0.0	0.020.0	0.020.0	0.01-0.1	0.08
FCF Margin	N/A	N/A	-384.3%-742.6pp	358.4%+514.9pp	-156.5%	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-3.5%-2.5pp	-1.0%+5.0pp	-6.0%-3.6pp	-2.4%+3.6pp	-6.0%-1.6pp	-4.4%-2.3pp	-2.1%+1.2pp	-3.2%
Current Ratio	41.78+1.6	40.16+11.0	29.15+17.6	11.56+0.4	11.13-0.9	12.03-21.0	33.07-5.5	38.61
Debt-to-Equity	0.030.0	0.030.0	0.04-0.1	0.090.0	0.100.0	0.09+0.1	0.040.0	0.03
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

Is Xbiotech profitable?

No, Xbiotech (XBIT) reported a net income of -$38.5M in fiscal year 2024.

What is Xbiotech's earnings per share (EPS)?

Xbiotech (XBIT) reported diluted earnings per share of $-1.26 for fiscal year 2024. This represents a -55.6% change compared to the previous fiscal year. 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.

What is Xbiotech's EBITDA?

Xbiotech (XBIT) had EBITDA of -$40.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Xbiotech's free cash flow?

Xbiotech (XBIT) generated -$32.3M in free cash flow during fiscal year 2024. This represents a -69.1% 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 Xbiotech's operating cash flow?

Xbiotech (XBIT) generated -$31.0M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Xbiotech's total assets?

Xbiotech (XBIT) had $199.1M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Xbiotech's capital expenditures?

Xbiotech (XBIT) invested $1.3M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Xbiotech spend on research and development?

Xbiotech (XBIT) invested $37.8M in research and development during fiscal year 2024.

How many shares does Xbiotech have outstanding?

Xbiotech (XBIT) had 30M shares outstanding as of fiscal year 2024.

What is Xbiotech's current ratio?

Xbiotech (XBIT) had a current ratio of 11.56 as of fiscal year 2024, which is generally considered healthy.

What is Xbiotech's debt-to-equity ratio?

Xbiotech (XBIT) had a debt-to-equity ratio of 0.09 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Xbiotech's return on assets (ROA)?

Xbiotech (XBIT) had a return on assets of -19.4% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Xbiotech's cash runway?

Based on fiscal year 2024 data, Xbiotech (XBIT) had $172.7M in cash against an annual operating cash burn of $31.0M. This gives an estimated cash runway of approximately 67 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 Xbiotech's Piotroski F-Score?

Xbiotech (XBIT) has a Piotroski F-Score of 1 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Xbiotech's earnings high quality?

Xbiotech (XBIT) has an earnings quality ratio of 0.80x, 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.