Xenon Pharmaceut Financials

XENE

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

This page shows Xenon Pharmaceut (XENE) 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).

Financial Health Signals

Piotroski F-Score Weak

1/9

Xenon Pharmaceut 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

0.77x

For every $1 of reported earnings, Xenon Pharmaceut generates $0.77 in operating cash flow (-$181.4M OCF vs -$234.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Revenue

N/A

EBITDA

-$276.7M

YoY-30.5%

Xenon Pharmaceut's EBITDA was -$276.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 30.5% from the prior year.

Free Cash Flow

-$184.5M

YoY-17.7%

Xenon Pharmaceut generated -$184.5M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 17.7% from the prior year.

Net Income

-$234.3M

YoY-28.5%

Xenon Pharmaceut reported -$234.3M in net income in fiscal year 2024. This represents a decrease of 28.5% from the prior year.

EPS (Diluted)

$-3.01

YoY-10.3%

Xenon Pharmaceut earned $-3.01 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 10.3% from the prior year.

Cash & Debt

$142.7M

YoY-4.0%

5Y CAGR+42.0%

10Y CAGR+7.1%

Xenon Pharmaceut held $142.7M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

76M

YoY+1.4%

5Y CAGR+22.1%

10Y CAGR+18.3%

Xenon Pharmaceut had 76M shares outstanding in fiscal year 2024. This represents an increase of 1.4% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

R&D Spending

$210.4M

YoY+25.6%

5Y CAGR+40.2%

10Y CAGR+33.4%

Xenon Pharmaceut invested $210.4M in research and development in fiscal year 2024. This represents an increase of 25.6% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$3.1M

YoY-45.3%

5Y CAGR+19.9%

10Y CAGR+7.2%

Xenon Pharmaceut invested $3.1M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 45.3% from the prior year.

XENE Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	N/A	N/A	$9.4M-48.8%	$18.4M-42.7%	$32.2M+371.0%	$6.8M
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	$210.4M+25.6%	$167.5M+58.4%	$105.8M+40.2%	$75.5M+49.4%	$50.5M+30.1%	$38.8M
SG&A Expenses	$68.9M+48.0%	$46.5M+41.9%	$32.8M+49.4%	$22.0M+69.7%	$12.9M+19.8%	$10.8M
Operating Income	-$279.3M-30.5%	-$214.1M-65.7%	-$129.1M-63.5%	-$79.0M-152.4%	-$31.3M+26.9%	-$42.8M
Interest Expense	N/A	N/A	N/A	N/A	$484K-66.2%	$1.4M
Income Tax	-$4.1M-1300.3%	-$292K-347.5%	$118K+2066.7%	-$6K+97.7%	-$257K-1017.4%	-$23K
Net Income	-$234.3M-28.5%	-$182.4M-45.5%	-$125.4M-58.9%	-$78.9M-173.5%	-$28.8M+30.7%	-$41.6M
EPS (Diluted)	$-3.01-10.3%	$-2.73-32.5%	$-2.06-16.4%	$-1.77-118.5%	$-0.81	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$0	$0-100.0%	$7.5M	$0	$0	$0	N/A	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	$77.1M+2.8%	$75.0M+22.5%	$61.2M+7.4%	$57.0M+14.6%	$49.7M+12.3%	$44.3M	N/A	$42.9M
SG&A Expenses	$19.3M+0.2%	$19.2M+1.1%	$19.0M+14.0%	$16.7M-13.9%	$19.4M+31.2%	$14.8M	N/A	$12.8M
Operating Income	-$96.3M-2.2%	-$94.2M-29.5%	-$72.7M+1.3%	-$73.7M-6.6%	-$69.1M-17.0%	-$59.0M	N/A	-$55.7M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$677K+208.1%	-$626K-246.6%	$427K+233.4%	-$320K+3.9%	-$333K-180.8%	$412K	N/A	-$157K
Net Income	-$90.9M-7.3%	-$84.7M-30.2%	-$65.0M-3.6%	-$62.8M-8.4%	-$57.9M-20.8%	-$47.9M	N/A	-$48.5M
EPS (Diluted)	$-1.15-7.5%	$-1.07-28.9%	$-0.83-2.5%	$-0.81-8.0%	$-0.75-21.0%	$-0.62	N/A	$-0.73

XENE Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$798.1M-17.3%	$964.8M+27.9%	$754.1M+31.8%	$572.0M+202.4%	$189.2M+28.1%	$147.7M
Current Assets	$635.3M-1.5%	$645.0M+7.4%	$600.3M+7.4%	$559.0M+207.5%	$181.8M+25.5%	$144.9M
Cash & Equivalents	$142.7M-4.0%	$148.6M+159.7%	$57.2M-67.4%	$175.7M+290.3%	$45.0M+81.8%	$24.8M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$1.5M+68.1%	$874K-11.4%	$986K-64.3%	$2.8M+51.8%	$1.8M+124.1%	$813K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$43.2M+17.2%	$36.9M+12.9%	$32.6M+48.6%	$22.0M+23.2%	$17.8M-68.0%	$55.7M
Current Liabilities	$35.6M+30.5%	$27.3M+20.1%	$22.7M+58.5%	$14.3M-3.1%	$14.8M-65.9%	$43.4M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	$10.9M
Total Equity	$754.9M-18.6%	$927.9M+28.6%	$721.5M+31.2%	$550.0M+221.0%	$171.4M+86.3%	$92.0M
Retained Earnings	-$899.5M-35.2%	-$665.1M-37.8%	-$482.7M-35.1%	-$357.4M-28.3%	-$278.5M-11.6%	-$249.7M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$607.8M-9.9%	$674.3M-9.3%	$743.3M-6.9%	$798.1M-9.7%	$884.0M-3.8%	$919.0M-4.7%	$964.8M+43.8%	$671.1M
Current Assets	$480.1M-4.0%	$500.3M-11.5%	$565.5M-11.0%	$635.3M-12.7%	$728.1M+3.0%	$707.2M+9.7%	$645.0M+21.5%	$531.0M
Cash & Equivalents	$104.5M-22.8%	$135.4M+16.1%	$116.7M-18.3%	$142.7M+4.4%	$136.7M+132.2%	$58.9M-60.4%	$148.6M+49.3%	$99.6M
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	$1.5M+72.2%	$853K+2.4%	$833K-4.7%	$874K+8.6%	$805K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$48.3M+19.9%	$40.3M+2.5%	$39.3M-9.1%	$43.2M+8.2%	$40.0M+27.6%	$31.3M-15.1%	$36.9M+6.9%	$34.5M
Current Liabilities	$38.3M+16.0%	$33.0M+3.2%	$32.0M-10.0%	$35.6M+13.8%	$31.3M+40.8%	$22.2M-18.5%	$27.3M+10.2%	$24.7M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$559.5M-11.7%	$634.0M-9.9%	$704.0M-6.7%	$754.9M-10.6%	$844.0M-4.9%	$887.7M-4.3%	$927.9M+45.8%	$636.6M
Retained Earnings	-$1.1B-8.7%	-$1.0B-8.8%	-$964.5M-7.2%	-$899.5M-16.7%	-$771.0M-8.1%	-$713.1M-7.2%	-$665.1M-7.2%	-$620.4M

XENE Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$181.4M-20.0%	-$151.1M-49.6%	-$101.0M-45.4%	-$69.5M-44.4%	-$48.1M-920.9%	-$4.7M
Capital Expenditures	$3.1M-45.3%	$5.6M+94.1%	$2.9M+41.2%	$2.0M-22.3%	$2.6M+112.7%	$1.2M
Free Cash Flow	-$184.5M-17.7%	-$156.7M-50.8%	-$103.9M-45.2%	-$71.6M-41.0%	-$50.8M-752.6%	-$6.0M
Investing Cash Flow	$165.0M+248.1%	-$111.4M+62.0%	-$293.4M-18.9%	-$246.8M-1366.8%	-$16.8M+74.6%	-$66.2M
Financing Cash Flow	$12.1M-96.6%	$353.5M+27.0%	$278.5M-37.8%	$447.5M+421.6%	$85.8M+211.8%	$27.5M
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	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	-$71.8M-11.7%	-$64.2M-4.2%	-$61.7M-13.4%	-$54.4M-74.6%	-$31.2M+32.6%	-$46.2M-30.5%	-$35.4M+26.4%	-$48.1M
Capital Expenditures	$281K+79.0%	$157K+265.1%	$43K-94.5%	$783K-48.3%	$1.5M+705.3%	$188K+141.0%	$78K-93.5%	$1.2M
Free Cash Flow	-$72.0M-11.9%	-$64.4M-4.4%	-$61.7M-11.8%	-$55.2M-68.9%	-$32.7M+29.6%	-$46.4M-30.7%	-$35.5M+28.0%	-$49.3M
Investing Cash Flow	$38.5M-53.2%	$82.3M+138.4%	$34.5M-65.0%	$98.5M-9.8%	$109.2M+352.8%	-$43.2M+82.0%	-$239.8M-545.0%	$53.9M
Financing Cash Flow	$2.4M+3530.8%	$65K-94.4%	$1.2M-90.5%	$12.1M	$0	$0-100.0%	$324.0M	N/A
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

XENE Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	-1368.9%-940.5pp	-428.5%-331.1pp	-97.3%+529.7pp	-627.0%
Net Margin	N/A	N/A	-1329.0%-901.1pp	-427.9%-338.2pp	-89.6%+519.4pp	-609.1%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-29.4%-10.5pp	-18.9%-2.3pp	-16.6%-2.8pp	-13.8%+1.5pp	-15.2%+12.9pp	-28.2%
Current Ratio	17.85-5.8	23.65-2.8	26.44-12.6	39.03+26.7	12.30+9.0	3.34
Debt-to-Equity	0.06+0.0	0.040.0	0.050.0	0.04-0.1	0.10-0.0	0.12
FCF Margin	N/A	N/A	-1101.6%-713.5pp	-388.1%-230.3pp	-157.8%-70.6pp	-87.2%

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	-969.8%	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	-867.3%	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	-14.9%-2.4pp	-12.6%-3.8pp	-8.8%-1.2pp	-7.5%-1.0pp	-6.6%-1.3pp	-5.2%	N/A	-7.2%
Current Ratio	12.52-2.6	15.14-2.5	17.66-0.2	17.85-5.4	23.27-8.6	31.82+8.2	23.65+2.2	21.46
Debt-to-Equity	0.09+0.0	0.060.0	0.060.0	0.060.0	0.05+0.0	0.040.0	0.04-0.0	0.05
FCF Margin	N/A	N/A	-822.6%	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

Is Xenon Pharmaceut profitable?

No, Xenon Pharmaceut (XENE) reported a net income of -$234.3M in fiscal year 2024.

What is Xenon Pharmaceut's earnings per share (EPS)?

Xenon Pharmaceut (XENE) reported diluted earnings per share of $-3.01 for fiscal year 2024. This represents a -10.3% 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 Xenon Pharmaceut's EBITDA?

Xenon Pharmaceut (XENE) had EBITDA of -$276.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Xenon Pharmaceut's free cash flow?

Xenon Pharmaceut (XENE) generated -$184.5M in free cash flow during fiscal year 2024. This represents a -17.7% 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 Xenon Pharmaceut's operating cash flow?

Xenon Pharmaceut (XENE) generated -$181.4M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Xenon Pharmaceut's total assets?

Xenon Pharmaceut (XENE) had $798.1M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Xenon Pharmaceut's capital expenditures?

Xenon Pharmaceut (XENE) invested $3.1M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Xenon Pharmaceut spend on research and development?

Xenon Pharmaceut (XENE) invested $210.4M in research and development during fiscal year 2024.

How many shares does Xenon Pharmaceut have outstanding?

Xenon Pharmaceut (XENE) had 76M shares outstanding as of fiscal year 2024.

What is Xenon Pharmaceut's current ratio?

Xenon Pharmaceut (XENE) had a current ratio of 17.85 as of fiscal year 2024, which is generally considered healthy.

What is Xenon Pharmaceut's debt-to-equity ratio?

Xenon Pharmaceut (XENE) had a debt-to-equity ratio of 0.06 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Xenon Pharmaceut's return on assets (ROA)?

Xenon Pharmaceut (XENE) had a return on assets of -29.4% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Xenon Pharmaceut's cash runway?

Based on fiscal year 2024 data, Xenon Pharmaceut (XENE) had $142.7M in cash against an annual operating cash burn of $181.4M. This gives an estimated cash runway of approximately 9 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 Xenon Pharmaceut's Piotroski F-Score?

Xenon Pharmaceut (XENE) 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 Xenon Pharmaceut's earnings high quality?

Xenon Pharmaceut (XENE) has an earnings quality ratio of 0.77x, 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.