Y-Mabs Therapeutics Financials

YMAB

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

Financial Health Signals

Financial Profile 60/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Y-Mabs Therapeutics has an operating margin of -35.6%, meaning the company retains $-36 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 down from -30.3% the prior year.

Growth

Y-Mabs Therapeutics's revenue grew a modest 3.4% year-over-year to $87.7M. This slow but positive growth earns a score of 38/100.

Leverage

100

Y-Mabs Therapeutics carries a low D/E ratio of 0.30, meaning only $0.30 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

100

With a current ratio of 4.16, Y-Mabs Therapeutics holds $4.16 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Piotroski F-Score Weak

2/9

Y-Mabs Therapeutics 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), 1 of 2 efficiency signals pass.

Earnings Quality Low Quality

0.53x

For every $1 of reported earnings, Y-Mabs Therapeutics generates $0.53 in operating cash flow (-$15.7M OCF vs -$29.7M 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 Y-Mabs Therapeutics (YMAB) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 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

$87.7M

YoY+3.4%

Y-Mabs Therapeutics generated $87.7M in revenue in fiscal year 2024. This represents an increase of 3.4% from the prior year.

EBITDA

-$30.7M

YoY-23.0%

Y-Mabs Therapeutics's EBITDA was -$30.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 23.0% from the prior year.

Free Cash Flow

N/A

Net Income

-$29.7M

YoY-38.5%

Y-Mabs Therapeutics reported -$29.7M in net income in fiscal year 2024. This represents a decrease of 38.5% from the prior year.

EPS (Diluted)

$-0.67

YoY-36.7%

Y-Mabs Therapeutics earned $-0.67 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 36.7% from the prior year.

Cash & Debt

$67.2M

YoY-14.5%

5Y CAGR-20.2%

Y-Mabs Therapeutics held $67.2M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

45M

YoY+3.0%

Y-Mabs Therapeutics had 45M shares outstanding in fiscal year 2024. This represents an increase of 3.0% from the prior year.

Gross Margin

82.9%

YoY-3.7pp

Y-Mabs Therapeutics's gross margin was 82.9% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 3.7 percentage points from the prior year.

Operating Margin

-35.6%

YoY-5.3pp

Y-Mabs Therapeutics's operating margin was -35.6% in fiscal year 2024, reflecting core business profitability. This is down 5.3 percentage points from the prior year.

Net Margin

-33.8%

YoY-8.6pp

Y-Mabs Therapeutics's net profit margin was -33.8% in fiscal year 2024, showing the share of revenue converted to profit. This is down 8.6 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

$49.0M

YoY-9.6%

5Y CAGR-5.1%

Y-Mabs Therapeutics invested $49.0M in research and development in fiscal year 2024. This represents a decrease of 9.6% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

YMAB Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$87.7M+3.4%	$84.8M+30.0%	$65.3M+87.0%	$34.9M+68.2%	$20.8M	$0
Cost of Revenue	$15.0M+32.0%	$11.4M+52.2%	$7.5M+224.1%	$2.3M	N/A	N/A
Gross Profit	$72.7M-1.0%	$73.5M+27.1%	$57.8M+77.3%	$32.6M	N/A	N/A
R&D Expenses	$49.0M-9.6%	$54.2M-40.8%	$91.6M-1.8%	$93.2M-0.5%	$93.7M+47.6%	$63.5M
SG&A Expenses	$54.6M+21.8%	$44.9M-26.4%	$60.9M+11.7%	$54.6M+21.9%	$44.8M+129.5%	$19.5M
Operating Income	-$31.2M-21.5%	-$25.7M+72.9%	-$94.8M+17.9%	-$115.4M+3.8%	-$119.9M-44.5%	-$83.0M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	-$146K-126.0%	$561K	$0	$0	$0	$0
Net Income	-$29.7M-38.5%	-$21.4M+77.6%	-$95.6M-72.9%	-$55.3M+53.7%	-$119.3M-47.3%	-$81.0M
EPS (Diluted)	$-0.67-36.7%	$-0.49+77.6%	$-2.19-71.1%	$-1.28+56.9%	$-2.97-29.1%	$-2.30

Metric	Q2'25	Q1'25	Q2'24	Q3'24	Q1'24	Q4'23	Q3'23	Q2'23
Revenue	$19.5M-6.6%	$20.9M-21.1%	$26.5M+43.5%	$18.5M-7.4%	$19.9M-14.7%	$23.4M+14.2%	$20.5M-1.4%	$20.8M
Cost of Revenue	$2.7M-11.3%	$3.0M-60.7%	$7.6M+239.9%	$2.2M+7.2%	$2.1M+2.8%	$2.0M-21.4%	$2.6M-44.2%	$4.6M
Gross Profit	$16.9M-5.8%	$17.9M-5.0%	$18.9M+16.3%	$16.2M-9.1%	$17.8M-16.4%	$21.3M+19.4%	$17.9M+10.9%	$16.1M
R&D Expenses	$11.1M-2.2%	$11.4M-7.0%	$12.2M+9.4%	$11.2M-15.8%	$13.3M-0.9%	$13.4M-12.8%	$15.4M+27.4%	$12.1M
SG&A Expenses	$11.3M-13.6%	$13.1M+5.8%	$12.4M-9.1%	$13.6M+19.2%	$11.4M+2.6%	$11.1M+9.2%	$10.2M-9.5%	$11.3M
Operating Income	-$5.6M+14.4%	-$6.5M-10.2%	-$5.9M+30.7%	-$8.6M-24.0%	-$6.9M-115.9%	-$3.2M+58.7%	-$7.7M-7.3%	-$7.2M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$7K+40.0%	$5K+100.7%	-$752K-317.3%	$346K+116.3%	$160K-17.9%	$195K+4.3%	$187K+4.5%	$179K
Net Income	-$3.2M+37.7%	-$5.2M+23.5%	-$6.8M+3.0%	-$7.0M-5.6%	-$6.6M-571.0%	-$988K+87.2%	-$7.7M-22.9%	-$6.3M
EPS (Diluted)	$-0.07+41.7%	$-0.12+20.0%	$-0.15+6.3%	$-0.16-6.7%	$-0.15-650.0%	$-0.02+88.9%	$-0.18-28.6%	$-0.14

YMAB Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$119.9M-6.2%	$127.9M-9.6%	$141.5M-33.5%	$212.8M+61.1%	$132.0M-39.0%	$216.4M
Current Assets	$98.5M-11.3%	$111.1M-14.8%	$130.4M-35.5%	$202.3M+65.3%	$122.4M-42.3%	$212.0M
Cash & Equivalents	$67.2M-14.5%	$78.6M-25.6%	$105.8M-41.7%	$181.6M+58.4%	$114.6M-44.7%	$207.1M
Inventory	$7.2M+42.4%	$5.1M-24.4%	$6.7M+21.6%	$5.5M	$0	$0
Accounts Receivable	$19.7M-12.3%	$22.5M+79.2%	$12.5M+62.5%	$7.7M	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$27.9M+3.8%	$26.9M-16.6%	$32.2M-1.4%	$32.7M+24.7%	$26.2M+50.1%	$17.5M
Current Liabilities	$23.7M+17.7%	$20.1M-28.8%	$28.3M+1.5%	$27.9M+42.7%	$19.5M+43.8%	$13.6M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$92.0M-8.9%	$101.0M-7.5%	$109.2M-39.4%	$180.1M+70.2%	$105.8M-46.8%	$198.9M
Retained Earnings	-$487.1M-6.5%	-$457.5M-4.9%	-$436.0M-28.1%	-$340.5M-19.4%	-$285.2M-71.9%	-$165.9M

Metric	Q2'25	Q1'25	Q2'24	Q3'24	Q1'24	Q4'23	Q3'23	Q2'23
Total Assets	$117.2M+4.1%	$112.6M-6.1%	$119.9M-0.8%	$120.9M-1.9%	$123.3M-3.6%	$127.9M-0.8%	$128.9M-2.7%	$132.4M
Current Assets	$91.8M+1.5%	$90.4M-8.2%	$98.5M-0.6%	$99.1M-8.5%	$108.3M-2.6%	$111.1M-3.3%	$114.9M-0.8%	$115.8M
Cash & Equivalents	$62.3M+3.3%	$60.3M-10.3%	$67.2M-1.3%	$68.1M-10.1%	$75.7M-3.7%	$78.6M-9.2%	$86.6M-1.5%	$87.9M
Inventory	$9.7M+21.6%	$8.0M+10.8%	$7.2M-24.5%	$9.6M+13.1%	$8.4M+66.8%	$5.1M-28.8%	$7.1M+37.1%	$5.2M
Accounts Receivable	$15.7M-11.3%	$17.7M-9.9%	$19.7M-1.1%	$19.9M-3.3%	$20.6M-8.3%	$22.5M+19.0%	$18.9M-1.3%	$19.1M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$29.7M+28.3%	$23.2M-17.0%	$27.9M-2.1%	$28.5M+18.1%	$24.1M-10.3%	$26.9M-6.4%	$28.7M+3.7%	$27.7M
Current Liabilities	$22.9M+21.0%	$19.0M-20.0%	$23.7M-6.3%	$25.3M+43.7%	$17.6M-12.5%	$20.1M-7.7%	$21.8M-10.0%	$24.2M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$87.5M-2.2%	$89.5M-2.8%	$92.0M-0.5%	$92.4M-6.8%	$99.2M-1.8%	$101.0M+0.8%	$100.2M-4.3%	$104.7M
Retained Earnings	-$495.6M-0.7%	-$492.3M-1.1%	-$487.1M-1.4%	-$480.3M-3.5%	-$464.1M-1.4%	-$457.5M-0.2%	-$456.5M-1.7%	-$448.7M

YMAB Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$15.7M+42.3%	-$27.2M+64.1%	-$75.9M+26.0%	-$102.6M-12.4%	-$91.2M-24.1%	-$73.5M
Capital Expenditures	N/A	N/A	N/A	$667K+281.1%	$175K-91.1%	$2.0M
Free Cash Flow	N/A	N/A	N/A	-$103.2M-12.9%	-$91.4M-21.1%	-$75.5M
Investing Cash Flow	N/A	N/A	N/A	$61.0M+2291.8%	-$2.8M-41.7%	-$2.0M
Financing Cash Flow	$4.3M+4211.0%	$100K+19.0%	$84K-99.9%	$108.3M+5304.9%	$2.0M-98.5%	$134.7M
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	Q2'25	Q1'25	Q2'24	Q3'24	Q1'24	Q4'23	Q3'23	Q2'23
Operating Cash Flow	$1.7M+123.9%	-$6.9M-269.6%	-$1.9M+82.5%	-$10.7M-206.7%	-$3.5M+56.7%	-$8.0M-500.6%	-$1.3M+71.7%	-$4.7M
Capital Expenditures	$0-100.0%	$127K	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	$1.7M+123.5%	-$7.0M	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$0+100.0%	-$127K	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	$332K+191.2%	$114K-88.4%	$986K+0.7%	$979K+66.5%	$588K	N/A	N/A	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

YMAB Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	82.9%-3.7pp	86.6%-2.0pp	88.6%-4.8pp	93.4%	N/A	N/A
Operating Margin	-35.6%-5.3pp	-30.3%+115.0pp	-145.3%+185.5pp	-330.8%+247.2pp	-578.0%	N/A
Net Margin	-33.8%-8.6pp	-25.3%+121.2pp	-146.4%+12.0pp	-158.4%+416.7pp	-575.1%	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-24.7%-8.0pp	-16.8%+50.8pp	-67.6%-41.6pp	-26.0%+64.4pp	-90.4%-52.9pp	-37.5%
Current Ratio	4.16-1.4	5.52+0.9	4.61-2.6	7.26+1.0	6.26-9.3	15.60
Debt-to-Equity	0.30+0.0	0.27-0.0	0.30+0.1	0.18-0.1	0.25+0.2	0.09
FCF Margin	N/A	N/A	N/A	-295.8%+144.7pp	-440.5%	N/A

Metric	Q2'25	Q1'25	Q2'24	Q3'24	Q1'24	Q4'23	Q3'23	Q2'23
Gross Margin	86.4%+0.7pp	85.6%+14.5pp	71.2%-16.7pp	87.8%-1.7pp	89.5%-1.8pp	91.3%+4.0pp	87.3%+9.7pp	77.6%
Operating Margin	-28.7%+2.6pp	-31.3%-8.9pp	-22.4%+24.0pp	-46.4%-11.8pp	-34.7%-21.0pp	-13.7%+24.2pp	-37.9%-3.1pp	-34.8%
Net Margin	-16.6%+8.3pp	-24.9%+0.8pp	-25.6%+12.3pp	-37.9%-4.6pp	-33.3%-29.0pp	-4.2%+33.7pp	-37.9%-7.5pp	-30.4%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-2.8%+1.9pp	-4.6%+1.0pp	-5.7%+0.1pp	-5.8%-0.4pp	-5.4%-4.6pp	-0.8%+5.2pp	-6.0%-1.2pp	-4.8%
Current Ratio	4.00-0.8	4.77+0.6	4.16+0.2	3.92-2.2	6.15+0.6	5.52+0.3	5.27+0.5	4.78
Debt-to-Equity	0.34+0.1	0.26-0.0	0.300.0	0.31+0.1	0.24-0.0	0.27-0.0	0.29+0.0	0.26
FCF Margin	8.5%+42.1pp	-33.7%	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Y-Mabs Therapeutics's annual revenue?

Y-Mabs Therapeutics (YMAB) reported $87.7M in total revenue for fiscal year 2024. This represents a 3.4% 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 Y-Mabs Therapeutics's revenue growing?

Y-Mabs Therapeutics (YMAB) revenue grew by 3.4% year-over-year, from $84.8M to $87.7M in fiscal year 2024.

Is Y-Mabs Therapeutics profitable?

No, Y-Mabs Therapeutics (YMAB) reported a net income of -$29.7M in fiscal year 2024, with a net profit margin of -33.8%.

What is Y-Mabs Therapeutics's earnings per share (EPS)?

Y-Mabs Therapeutics (YMAB) reported diluted earnings per share of $-0.67 for fiscal year 2024. This represents a -36.7% 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 Y-Mabs Therapeutics's EBITDA?

Y-Mabs Therapeutics (YMAB) had EBITDA of -$30.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Y-Mabs Therapeutics's gross margin?

Y-Mabs Therapeutics (YMAB) had a gross margin of 82.9% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Y-Mabs Therapeutics's operating margin?

Y-Mabs Therapeutics (YMAB) had an operating margin of -35.6% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Y-Mabs Therapeutics's net profit margin?

Y-Mabs Therapeutics (YMAB) had a net profit margin of -33.8% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Y-Mabs Therapeutics's operating cash flow?

Y-Mabs Therapeutics (YMAB) generated -$15.7M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Y-Mabs Therapeutics's total assets?

Y-Mabs Therapeutics (YMAB) had $119.9M in total assets as of fiscal year 2024, including both current and long-term assets.

How much does Y-Mabs Therapeutics spend on research and development?

Y-Mabs Therapeutics (YMAB) invested $49.0M in research and development during fiscal year 2024.

How many shares does Y-Mabs Therapeutics have outstanding?

Y-Mabs Therapeutics (YMAB) had 45M shares outstanding as of fiscal year 2024.

What is Y-Mabs Therapeutics's current ratio?

Y-Mabs Therapeutics (YMAB) had a current ratio of 4.16 as of fiscal year 2024, which is generally considered healthy.

What is Y-Mabs Therapeutics's debt-to-equity ratio?

Y-Mabs Therapeutics (YMAB) had a debt-to-equity ratio of 0.30 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Y-Mabs Therapeutics's return on assets (ROA)?

Y-Mabs Therapeutics (YMAB) had a return on assets of -24.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Y-Mabs Therapeutics's cash runway?

Based on fiscal year 2024 data, Y-Mabs Therapeutics (YMAB) had $67.2M in cash against an annual operating cash burn of $15.7M. This gives an estimated cash runway of approximately 51 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 Y-Mabs Therapeutics's Piotroski F-Score?

Y-Mabs Therapeutics (YMAB) 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 Y-Mabs Therapeutics's earnings high quality?

Y-Mabs Therapeutics (YMAB) has an earnings quality ratio of 0.53x, 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.

How financially healthy is Y-Mabs Therapeutics?

Y-Mabs Therapeutics (YMAB) scores 60 out of 100 on our Financial Profile, indicating moderate 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.