Exicure Inc Financials
This page shows Exicure Inc (XCUR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 10 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).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Exicure Inc has an operating margin of -846.6%, meaning the company retains $-847 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -2446.4% the prior year.
Exicure Inc's revenue grew a modest 0.0% year-over-year to $500K. This slow but positive growth earns a score of 33/100.
Exicure Inc has a moderate D/E ratio of 2.58. This balance of debt and equity financing earns a leverage score of 49/100.
Exicure Inc's current ratio of 1.19 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 19/100, which could limit financial flexibility.
While Exicure Inc generated -$8.6M in operating cash flow, capex of $1K consumed most of it, leaving -$8.6M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Exicure Inc generates a -126.0% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -143.3% the prior year.
Exicure Inc passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Exicure Inc generates $1.73 in operating cash flow (-$8.6M OCF vs -$4.9M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Exicure Inc earns $-4233.0 in operating income for every $1 of interest expense (-$4.2M vs $1K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Exicure Inc generated $500K in revenue in fiscal year 2025. This represents an increase of 0.0% from the prior year.
Exicure Inc's EBITDA was -$4.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 67.3% from the prior year.
Exicure Inc reported -$4.9M in net income in fiscal year 2025. This represents an increase of 49.0% from the prior year.
Exicure Inc earned $-0.79 per diluted share (EPS) in fiscal year 2025. This represents an increase of 83.4% from the prior year.
Cash & Balance Sheet
Exicure Inc generated -$8.6M in free cash flow in fiscal year 2025, representing cash available after capex.
Exicure Inc held $12.5M in cash against $0 in long-term debt as of fiscal year 2025.
Exicure Inc had 6M shares outstanding in fiscal year 2025. This represents an increase of 5.8% from the prior year.
Margins & Returns
Exicure Inc's operating margin was -846.6% in fiscal year 2025, reflecting core business profitability. This is up 1599.8 percentage points from the prior year.
Exicure Inc's net profit margin was -989.2% in fiscal year 2025, showing the share of revenue converted to profit. This is up 951.0 percentage points from the prior year.
Exicure Inc's ROE was -126.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 17.3 percentage points from the prior year.
Capital Allocation
Exicure Inc invested $3.3M in research and development in fiscal year 2025.
Exicure Inc invested $1K in capex in fiscal year 2025, funding long-term assets and infrastructure.
XCUR Income Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | N/A | $0 | $0-100.0% | $500K | N/A |
| 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 | $888K-5.0% | $935K+15.7% | $808K | N/A | $0 | $0 | $0 | N/A |
| SG&A Expenses | $1.5M-1.0% | $1.5M-31.7% | $2.2M | N/A | $1.4M+16.1% | $1.2M-7.6% | $1.3M | N/A |
| Operating Income | -$2.4M+4.7% | -$2.5M-185.1% | $2.9M | N/A | -$2.6M-108.3% | -$1.2M-47.7% | -$836K | N/A |
| Interest Expense | $0 | N/A | N/A | N/A | $12K+100.0% | $6K | N/A | N/A |
| Income Tax | $0 | $0 | $0 | N/A | $8K | $0 | $0 | N/A |
| Net Income | -$2.4M+7.0% | -$2.6M-187.1% | $3.0M | N/A | -$1.1M-81.8% | -$600K+27.6% | -$829K | N/A |
| EPS (Diluted) | $-0.39+4.9% | $-0.41-183.7% | $0.49 | N/A | $-0.57 | $-0.35+27.1% | $-0.48 | N/A |
XCUR Balance Sheet
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $15.3M-18.5% | $18.7M-9.4% | $20.7M+37.4% | $15.1M+41.6% | $10.6M-0.5% | $10.7M-0.2% | $10.7M-7.5% | $11.6M |
| Current Assets | $5.4M-37.1% | $8.6M-23.5% | $11.3M-17.3% | $13.7M+425.9% | $2.6M+25.1% | $2.1M+42.1% | $1.5M-27.7% | $2.0M |
| Cash & Equivalents | $4.4M-43.5% | $7.9M-24.6% | $10.4M-16.7% | $12.5M+3546.6% | $343K-35.0% | $528K+44.3% | $366K-55.1% | $816K |
| 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 | N/A | N/A | N/A |
| Goodwill | $3.3M0.0% | $3.3M0.0% | $3.3M | $0 | N/A | N/A | N/A | N/A |
| Total Liabilities | $8.3M-15.5% | $9.9M+6.2% | $9.3M+12.2% | $8.3M-8.8% | $9.1M+0.1% | $9.1M+6.7% | $8.5M-0.5% | $8.5M |
| Current Liabilities | $2.8M-39.4% | $4.6M+17.5% | $3.9M+26.6% | $3.1M-16.0% | $3.7M+6.5% | $3.4M+28.9% | $2.7M+6.0% | $2.5M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $6.9M-21.8% | $8.9M-22.1% | $11.4M+68.1% | $6.8M+338.3% | $1.5M-4.2% | $1.6M-26.9% | $2.2M-27.2% | $3.0M |
| Retained Earnings | -$201.3M-1.2% | -$198.9M-1.3% | -$196.3M+1.5% | -$199.3M-3.7% | -$192.1M-0.6% | -$191.0M-0.3% | -$190.4M-0.4% | -$189.6M |
XCUR Cash Flow Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$3.5M-54.6% | -$2.3M-42.8% | -$1.6M-89.1% | -$845K-88.2% | -$449K+61.5% | -$1.2M-159.1% | -$450K+44.9% | -$816K |
| Capital Expenditures | -$106K | N/A | N/A | N/A | $0 | N/A | N/A | $0 |
| Free Cash Flow | -$3.6M | N/A | N/A | N/A | -$449K | N/A | N/A | -$816K |
| Investing Cash Flow | $108K+138.6% | -$280K+86.6% | -$2.1M | $0 | $0 | $0 | $0-100.0% | $711K |
| Financing Cash Flow | $0 | $0-100.0% | $1.6M-87.1% | $12.4M | $0-100.0% | $1.0M | $0+100.0% | -$1K |
| 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 |
XCUR Financial Ratios
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| 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 | -167.2% | N/A |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | -165.8% | N/A |
| Return on Equity | -35.2%-5.6pp | -29.6%-56.0pp | 26.5% | N/A | -70.6%-33.4pp | -37.2%+0.4pp | -37.6% | N/A |
| Return on Assets | -16.0%-2.0pp | -14.0%-28.5pp | 14.6% | N/A | -10.3%-4.7pp | -5.6%+2.1pp | -7.7% | N/A |
| Current Ratio | 1.96+0.1 | 1.89-1.0 | 2.91-1.5 | 4.45+3.7 | 0.71+0.1 | 0.61+0.1 | 0.55-0.3 | 0.81 |
| Debt-to-Equity | 1.20+0.1 | 1.11+0.3 | 0.82-0.4 | 1.22-4.7 | 5.88+0.3 | 5.63+1.8 | 3.85+1.0 | 2.82 |
| 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 Exicure Inc's annual revenue?
Exicure Inc (XCUR) reported $500K in total revenue for fiscal year 2025. This represents a 0.0% 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 Exicure Inc's revenue growing?
Exicure Inc (XCUR) revenue grew by 0% year-over-year, from $500K to $500K in fiscal year 2025.
Is Exicure Inc profitable?
No, Exicure Inc (XCUR) reported a net income of -$4.9M in fiscal year 2025, with a net profit margin of -989.2%.
What is Exicure Inc's EBITDA?
Exicure Inc (XCUR) had EBITDA of -$4.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Exicure Inc's operating margin?
Exicure Inc (XCUR) had an operating margin of -846.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Exicure Inc's net profit margin?
Exicure Inc (XCUR) had a net profit margin of -989.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Exicure Inc's return on equity (ROE)?
Exicure Inc (XCUR) has a return on equity of -126.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Exicure Inc's free cash flow?
Exicure Inc (XCUR) generated -$8.6M in free cash flow during fiscal year 2025. 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 Exicure Inc's operating cash flow?
Exicure Inc (XCUR) generated -$8.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Exicure Inc's total assets?
Exicure Inc (XCUR) had $14.0M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Exicure Inc's capital expenditures?
Exicure Inc (XCUR) invested $1K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Exicure Inc spend on research and development?
Exicure Inc (XCUR) invested $3.3M in research and development during fiscal year 2025.
What is Exicure Inc's current ratio?
Exicure Inc (XCUR) had a current ratio of 1.19 as of fiscal year 2025, which is considered adequate.
What is Exicure Inc's debt-to-equity ratio?
Exicure Inc (XCUR) had a debt-to-equity ratio of 2.58 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Exicure Inc's return on assets (ROA)?
Exicure Inc (XCUR) had a return on assets of -35.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Exicure Inc's cash runway?
Based on fiscal year 2025 data, Exicure Inc (XCUR) had $12.5M in cash against an annual operating cash burn of $8.6M. This gives an estimated cash runway of approximately 18 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 Exicure Inc's Piotroski F-Score?
Exicure Inc (XCUR) has a Piotroski F-Score of 2 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 Exicure Inc's earnings high quality?
Exicure Inc (XCUR) has an earnings quality ratio of 1.73x, 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 Exicure Inc cover its interest payments?
Exicure Inc (XCUR) has an interest coverage ratio of -4233.0x, 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 Exicure Inc?
Exicure Inc (XCUR) scores 17 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.