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Zevra Therapeutics Inc Financials

ZVRA
Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

This page shows Zevra Therapeutics Inc (ZVRA) 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).

Rhea AI ZVRA FY2025

Reported profit is being shaped by below-the-line accounting gains while core operations still consume cash.

The headline earnings reversal from -$105.5M in FY2024 to $83.2M in FY2025 did not mark operating breakeven. The company still posted an operating loss of -$62.9M and operating cash flow of -$1.6M, so the reported profit came from outside the core operating engine rather than from the business funding itself.

FY2025 showed much better gross profit capture: the business converted its larger sales base into $90.0M of gross profit versus $16.2M a year earlier. But the cost structure is now overhead-heavy, with SG&A at $77.6M while R&D fell to $12.7M, which says the company is carrying a bigger administrative and selling platform before operating earnings have caught up.

The balance sheet looks more liquid than the income statement suggests, because cash of $62.4M nearly matched long-term debt of $61.9M at FY2025. That is a clear repair from FY2024, when debt-to-equity was 1.5x instead of 0.4x, which improves financial flexibility even though the company has not yet become self-funding.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Cash Runway Dilution R&D Intensity Revenue Progress Burn Trend Balance Sheet 67 / 100
Financial Health Score 67/100
Scored as: Emerging companies peer group

Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Zevra Therapeutics Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Cash Runway
99
Dilution
39
R&D Intensity
30
Revenue Progress
92
Burn Trend
85
Balance Sheet
57
Altman Z-Score Grey Zone
2.14

Zevra Therapeutics Inc scores 2.14, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($824.1M) relative to total liabilities ($130.1M). This signals moderate financial risk that warrants monitoring.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Neutral
6/9

Zevra Therapeutics Inc passes 6 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Low Quality
-0.02x

For every $1 of reported earnings, Zevra Therapeutics Inc generates $-0.02 in operating cash flow (-$1.6M OCF vs $83.2M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk
-7.9x

Zevra Therapeutics Inc earns $-7.9 in operating income for every $1 of interest expense (-$62.9M vs $8.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue
$106.5M
YoY+350.9%
5Y CAGR+51.6%

Zevra Therapeutics Inc generated $106.5M in revenue in fiscal year 2025. This represents an increase of 350.9% from the prior year.

EBITDA
-$58.9M
YoY+26.9%

Zevra Therapeutics Inc's EBITDA was -$58.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 26.9% from the prior year.

Net Income
$83.2M
YoY+178.9%

Zevra Therapeutics Inc reported $83.2M in net income in fiscal year 2025. This represents an increase of 178.9% from the prior year.

EPS (Diluted)
$1.35
YoY+159.2%

Zevra Therapeutics Inc earned $1.35 per diluted share (EPS) in fiscal year 2025. This represents an increase of 159.2% from the prior year.

Cash & Balance Sheet

Free Cash Flow
-$2.4M
YoY+96.5%

Zevra Therapeutics Inc generated -$2.4M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 96.5% from the prior year.

Cash & Debt
$62.4M
YoY+84.7%
5Y CAGR+71.4%
10Y CAGR+6.8%

Zevra Therapeutics Inc held $62.4M in cash against $61.9M in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
57M
YoY+5.9%

Zevra Therapeutics Inc had 57M shares outstanding in fiscal year 2025. This represents an increase of 5.9% from the prior year.

Margins & Returns

Gross Margin
84.5%
YoY+15.9pp

Zevra Therapeutics Inc's gross margin was 84.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 15.9 percentage points from the prior year.

Operating Margin
-59.1%
YoY+309.3pp
5Y CAGR-16.9pp

Zevra Therapeutics Inc's operating margin was -59.1% in fiscal year 2025, reflecting core business profitability. This is up 309.3 percentage points from the prior year.

Net Margin
78.2%
YoY+525.0pp
5Y CAGR+174.2pp

Zevra Therapeutics Inc's net profit margin was 78.2% in fiscal year 2025, showing the share of revenue converted to profit. This is up 525.0 percentage points from the prior year.

Return on Equity
53.8%
YoY+319.8pp

Zevra Therapeutics Inc's ROE was 53.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 319.8 percentage points from the prior year.

Capital Allocation

R&D Spending
$12.7M
YoY-69.7%
5Y CAGR+7.6%
10Y CAGR-0.9%

Zevra Therapeutics Inc invested $12.7M in research and development in fiscal year 2025. This represents a decrease of 69.7% from the prior year.

Share Buybacks
N/A
Capital Expenditures
$835K
5Y CAGR+90.8%
10Y CAGR+20.0%

Zevra Therapeutics Inc invested $835K in capex in fiscal year 2025, funding long-term assets and infrastructure.

ZVRA Income Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Revenue $36.2M+6.1% $34.1M+30.9% $26.1M+0.7% $25.9M+26.9% $20.4M+69.4% $12.0M+225.9% $3.7M-16.9% $4.4M
Cost of Revenue $1.9M+24.8% $1.5M+22.8% $1.2M-90.0% $12.4M+820.4% $1.3M-1.5% $1.4M-40.7% $2.3M-35.5% $3.6M
Gross Profit $34.3M+5.3% $32.6M+31.3% $24.8M+83.9% $13.5M-29.1% $19.1M+78.5% $10.7M+667.0% $1.4M+58.9% $876K
R&D Expenses $4.4M+67.6% $2.6M-23.7% $3.4M0.0% $3.4M+5.4% $3.3M-61.0% $8.4M-23.7% $10.9M+4.0% $10.5M
SG&A Expenses $20.8M+2.1% $20.4M+20.2% $16.9M-18.5% $20.8M+6.3% $19.5M+21.2% $16.1M-0.5% $16.2M+28.6% $12.6M
Operating Income $52.1M+459.8% $9.3M+124.8% $4.1M+105.8% -$71.0M-1224.9% -$5.4M+65.2% -$15.4M+43.5% -$27.3M-14.8% -$23.8M
Interest Expense $1.7M-12.2% $1.9M-5.0% $2.1M+2.1% $2.0M+2.0% $2.0M-10.3% $2.2M-5.1% $2.3M+9.6% $2.1M
Income Tax $6.9M+1280.0% $501K+215.7% -$433K-119.7% $2.2M+86.0% $1.2M-92.3% $15.4M $0-100.0% $70K
Net Income $37.9M+211.5% $12.2M+2336.2% -$544K-100.7% $74.7M+2510.7% -$3.1M+91.3% -$35.7M-7.6% -$33.2M-66.8% -$19.9M
EPS (Diluted) $0.60 N/A $-0.01-100.8% $1.21+2116.7% $-0.06 N/A $-0.69-43.7% $-0.48

ZVRA Balance Sheet

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Total Assets $278.6M-2.2% $284.7M+5.4% $270.1M+5.4% $256.3M+48.4% $172.7M-3.0% $178.1M-7.0% $191.6M+32.6% $144.4M
Current Assets $230.0M+3.1% $223.0M-0.9% $225.1M-0.5% $226.3M+177.5% $81.6M-5.2% $86.0M-13.5% $99.4M+63.3% $60.9M
Cash & Equivalents $95.6M+53.2% $62.4M+14.6% $54.4M+14.1% $47.7M+27.8% $37.3M+10.5% $33.8M-37.5% $54.0M+37.6% $39.3M
Inventory $2.3M+32.8% $1.7M+27.3% $1.4M+23.4% $1.1M-56.7% $2.6M+29.9% $2.0M+75.4% $1.1M-45.4% $2.1M
Accounts Receivable N/A N/A N/A N/A N/A $10.2M N/A N/A
Goodwill $4.7M0.0% $4.7M0.0% $4.7M0.0% $4.7M0.0% $4.7M0.0% $4.7M0.0% $4.7M0.0% $4.7M
Total Liabilities $72.8M-44.1% $130.1M-5.0% $137.0M-1.5% $139.0M+5.6% $131.7M-4.9% $138.5M+13.7% $121.8M+8.8% $111.9M
Current Liabilities $47.0M+19.7% $39.3M+50.4% $26.1M-9.4% $28.8M+6.9% $27.0M-20.8% $34.1M-1.2% $34.5M+13.2% $30.4M
Long-Term Debt $0-100.0% $61.9M+1.0% $61.3M+1.0% $60.7M+1.0% $60.1M+1.0% $59.5M+1.0% $58.9M+1.0% $58.3M
Total Equity $205.8M+33.1% $154.7M+16.1% $133.2M+13.6% $117.2M+185.8% $41.0M+3.4% $39.7M-43.1% $69.8M+114.8% $32.5M
Retained Earnings -$384.2M+9.0% -$422.1M+2.8% -$434.2M-0.1% -$433.7M+14.7% -$508.4M-0.6% -$505.3M-7.6% -$469.6M-7.6% -$436.3M

ZVRA Cash Flow Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Operating Cash Flow $6.1M+11.3% $5.5M+17.1% $4.7M+230.8% -$3.6M+56.2% -$8.2M+49.4% -$16.3M+10.4% -$18.1M+5.1% -$19.1M
Capital Expenditures $35K+212.9% -$31K-105.6% $554K+160.1% $213K+115.2% $99K $0 $0 $0
Free Cash Flow $6.1M+11.3% $5.5M+32.0% $4.2M+208.9% -$3.8M+54.2% -$8.3M+48.8% -$16.3M+10.4% -$18.1M+5.1% -$19.1M
Investing Cash Flow $79.6M+34974.0% $227K+105.0% -$4.6M-138.3% $11.9M+13.2% $10.5M+292.7% -$5.5M+82.6% -$31.4M-24205.4% -$129K
Financing Cash Flow -$52.8M-2174.0% $2.5M-61.0% $6.5M+372.8% $1.4M-14.1% $1.6M+101.9% $796K-98.8% $64.8M+322.5% $15.3M
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 $0 $0 $0

ZVRA Financial Ratios

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Gross Margin 94.8%-0.8pp 95.5%+0.3pp 95.3%+43.1pp 52.2%-41.2pp 93.4%+4.7pp 88.7%+51.0pp 37.7%+18.0pp 19.7%
Operating Margin 144.0%+116.7pp 27.3%+11.4pp 15.9%+290.4pp -274.5%-248.2pp -26.3%+101.7pp -128.0%+611.0pp -739.0%-204.2pp -534.8%
Net Margin 104.6%+69.0pp 35.6%+37.7pp -2.1%-290.8pp 288.7%+303.9pp -15.2%+281.6pp -296.8%+602.4pp -899.2%-451.3pp -447.9%
Return on Equity 18.4%+10.5pp 7.9%+8.3pp -0.4%-64.1pp 63.7%+71.3pp -7.5%+82.5pp -90.1%-42.5pp -47.6%+13.7pp -61.4%
Return on Assets 13.6%+9.3pp 4.3%+4.5pp -0.2%-29.3pp 29.1%+30.9pp -1.8%+18.3pp -20.1%-2.7pp -17.3%-3.5pp -13.8%
Current Ratio 4.89-0.8 5.68-2.9 8.62+0.8 7.85+4.8 3.02+0.5 2.53-0.4 2.88+0.9 2.00
Debt-to-Equity 0.00-0.4 0.40-0.1 0.46-0.1 0.52-0.9 1.46-0.0 1.50+0.7 0.84-1.0 1.80
FCF Margin 16.9%+0.8pp 16.1%+0.1pp 15.9%+30.7pp -14.7%+26.0pp -40.8%+94.1pp -134.9%+356.0pp -491.0%-61.5pp -429.5%

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Frequently Asked Questions

Zevra Therapeutics Inc (ZVRA) reported $106.5M in total revenue for fiscal year 2025. This represents a 350.9% 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.

Zevra Therapeutics Inc (ZVRA) revenue grew by 350.9% year-over-year, from $23.6M to $106.5M in fiscal year 2025.

Yes, Zevra Therapeutics Inc (ZVRA) reported a net income of $83.2M in fiscal year 2025, with a net profit margin of 78.2%.

Zevra Therapeutics Inc (ZVRA) reported diluted earnings per share of $1.35 for fiscal year 2025. This represents a 159.2% 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.

Zevra Therapeutics Inc (ZVRA) had EBITDA of -$58.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Zevra Therapeutics Inc (ZVRA) had $62.4M in cash and equivalents against $61.9M in long-term debt.

Zevra Therapeutics Inc (ZVRA) had a gross margin of 84.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Zevra Therapeutics Inc (ZVRA) had an operating margin of -59.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Zevra Therapeutics Inc (ZVRA) had a net profit margin of 78.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Zevra Therapeutics Inc (ZVRA) has a return on equity of 53.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Zevra Therapeutics Inc (ZVRA) generated -$2.4M in free cash flow during fiscal year 2025. This represents a 96.5% 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.

Zevra Therapeutics Inc (ZVRA) generated -$1.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Zevra Therapeutics Inc (ZVRA) had $284.7M in total assets as of fiscal year 2025, including both current and long-term assets.

Zevra Therapeutics Inc (ZVRA) invested $835K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Zevra Therapeutics Inc (ZVRA) invested $12.7M in research and development during fiscal year 2025.

Zevra Therapeutics Inc (ZVRA) had 57M shares outstanding as of fiscal year 2025.

Zevra Therapeutics Inc (ZVRA) had a current ratio of 5.68 as of fiscal year 2025, which is generally considered healthy.

Zevra Therapeutics Inc (ZVRA) had a debt-to-equity ratio of 0.40 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Zevra Therapeutics Inc (ZVRA) had a return on assets of 29.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Based on fiscal year 2025 data, Zevra Therapeutics Inc (ZVRA) had $62.4M in cash against an annual operating cash burn of $1.6M. This gives an estimated cash runway of approximately 469 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.

Zevra Therapeutics Inc (ZVRA) has an Altman Z-Score of 2.14, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Zevra Therapeutics Inc (ZVRA) has a Piotroski F-Score of 6 out of 9, indicating neutral 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Zevra Therapeutics Inc (ZVRA) has an earnings quality ratio of -0.02x, 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.

Zevra Therapeutics Inc (ZVRA) has an interest coverage ratio of -7.9x, 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.

Zevra Therapeutics Inc (ZVRA) scores 67 out of 100 on our Financial Health Score, indicating strong standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.

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