For fiscal 2025 (ended Dec 31, 2025), Avalo Therapeutics Inc. reported $59.0K of revenue and -$78.26M of net income.
AVTX revenue was $59.0K in fiscal Q4 2025 (ended Dec 31, 2025), down 69.3% from a year earlier. For the full fiscal 2025 it was $59.0K, down 86.6% from fiscal 2024. Compound annual growth was -61.2% over 5 years. It rose in 2 of the last 9 fiscal years.
AVTX net income was -$18.95M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$30.63M a year earlier. For the full fiscal 2025 it was -$78.26M, compared with -$35.13M in fiscal 2024.
AVTX diluted EPS was -$0.34 in fiscal Q3 2026 (ended Sep 30, 2026). For the full fiscal 2025 it was -$5.84.
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $59.0K | $441.0K | $1.92M | $18.05M | $5.40M | $6.70M | $6.75M | $7.03M | $27.81M | $1.15M |
| Cost of revenue | - | - | $1.28M | $3.43M | $1.49M | $300.0K | -$566.5K | $3.26M | $635.6K | $0 |
| Gross profit | - | - | $640.0K | $14.62M | $3.91M | $6.40M | $7.32M | $3.77M | $27.18M | $1.15M |
| Research and development | $50.08M | $24.44M | $13.78M | $31.31M | $59.84M | $32.19M | $11.76M | $5.79M | $4.37M | $10.15M |
| Selling, general and admin | $22.90M | $17.24M | $10.30M | $20.71M | $24.66M | $17.42M | $10.12M | $10.51M | $7.94M | $7.08M |
| Operating income | -$72.92M | -$68.51M | -$27.35M | -$37.44M | -$82.13M | -$72.84M | -$16.14M | -$35.38M | $13.89M | -$16.08M |
| Pre-tax income | -$78.09M | -$35.02M | -$31.53M | -$41.63M | - | - | - | - | - | - |
| Income tax | $165.0K | $114.0K | $14.0K | $28.0K | -$196.0K | -$2.79M | $280.3K | -$49.5K | $1.97M | $0 |
| Net income | -$78.26M | -$35.13M | -$31.54M | -$41.66M | -$84.38M | -$63.50M | -$16.07M | -$40.05M | $11.87M | -$16.47M |
| EPS, basic | -$5.84 | -$7.94 | -$113.58 | -$1063.00 | - | - | - | -$288.00 | $100.80 | -$448.80 |
| EPS, diluted | -$5.84 | -$20.91 | -$113.58 | -$1063.00 | - | - | - | -$288.00 | $100.80 | -$448.80 |
| Diluted shares | 13.4M | 7.5M | 277,727 | 39,202 | - | - | - | 144,890.054 | 78,144.996 | 36,793.317 |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $15.86M | $134.70M | $7.55M | $13.32M | $54.86M | $19.11M | $3.73M | $10.75M | $2.61M | $5.20M |
| Short-term investments | $82.48M | $0 | - | - | - | - | - | - | - | - |
| Receivables | - | - | - | $0 | - | - | - | - | - | - |
| Inventory | - | - | $0 | $20.0K | $38.0K | $3.0K | $21.3K | $317.9K | $382.2K | $0 |
| Current assets | $105.29M | $138.89M | $8.39M | $16.42M | $61.84M | $26.00M | $17.72M | $21.93M | $10.67M | $5.66M |
| Goodwill | $10.50M | $10.50M | $10.50M | $14.41M | $14.41M | $14.41M | $14.41M | $14.41M | $12.29M | $0 |
| Total assets | $116.46M | $150.73M | $20.99M | $33.37M | $80.21M | $43.76M | $36.11M | $70.25M | $42.81M | $5.77M |
| Current liabilities | $12.94M | $6.96M | $4.62M | $22.11M | $19.89M | $15.22M | $12.16M | $26.22M | $11.09M | $4.31M |
| Short-term debt | - | - | - | - | - | - | - | $1.05M | $0 | $2.35M |
| Long-term debt | - | - | - | - | - | - | - | $14.33M | $0 | $0 |
| Total debt | - | - | - | - | $32.83M | $0 | - | $15.38M | $0 | $2.35M |
| Total liabilities | $33.41M | $17.70M | $13.69M | $44.28M | $57.13M | $19.19M | $15.11M | $49.34M | $14.95M | $5.56M |
| Shareholders' equity | $83.05M | $133.03M | $7.30M | -$10.91M | $23.08M | $24.56M | $21.00M | $20.91M | $27.86M | $207.0K |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$51.46M | -$49.06M | -$30.68M | -$26.75M | -$70.89M | -$40.54M | -$19.13M | -$3.13M | $12.58M | -$14.57M |
| Capital expenditures | - | - | - | $95.0K | $113.0K | $63.0K | $262.0K | $564.4K | $23.3K | $34.9K |
| Free cash flow | - | - | - | -$26.85M | -$71.00M | -$40.60M | -$19.40M | -$3.69M | $12.56M | -$14.61M |
| Investing cash flow | -$81.72M | $356.0K | -$133.0K | -$95.0K | -$113.0K | $11.13M | -$443.0K | $865.5K | -$18.91M | -$34.9K |
| Financing cash flow | $14.59M | $175.85M | $25.04M | -$14.70M | $106.76M | $44.78M | $12.56M | $10.40M | $3.74M | -$1.43M |
| Stock-based compensation | $13.62M | $5.85M | $3.48M | $7.55M | $8.17M | $6.79M | $2.53M | $2.43M | $1.16M | $1.69M |
| Depreciation and amortization | $344.0K | $169.0K | $158.0K | $166.0K | $1.66M | $1.84M | $3.88M | $4.55M | $425.5K | $26.9K |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | -86.6% | -77.1% | -89.3% | 234.4% | -19.4% | -0.8% | -4.0% | -74.7% | 2312.3% | - |
| Gross margin | - | - | 33.3% | 81.0% | 72.4% | 95.5% | 108.4% | 53.6% | 97.7% | 100.0% |
| Operating margin | -123601.7% | -15535.6% | -1421.6% | -207.4% | -1521.6% | -1087.4% | -239.1% | -503.4% | 49.9% | -1394.6% |
| Net margin | -132642.4% | -7965.8% | -1639.5% | -230.8% | -1563.1% | -947.9% | -238.1% | -569.9% | 42.7% | -1428.6% |
| Free cash flow margin | - | - | - | -148.7% | -1315.4% | -606.1% | -287.3% | -52.5% | 45.1% | -1267.0% |
| Return on equity | -94.2% | -26.4% | -431.9% | - | -365.5% | -258.5% | -76.6% | -191.6% | 42.6% | -7957.2% |
| Return on assets | -67.2% | -23.3% | -150.3% | -124.8% | -105.2% | -145.1% | -44.5% | -57.0% | 27.7% | -285.5% |
| Current ratio | 8.14 | 19.96 | 1.82 | 0.74 | 3.11 | 1.71 | 1.46 | 0.84 | 0.96 | 1.31 |
| Debt to equity | - | - | - | - | 1.42 | 0.00 | - | 0.74 | 0.00 | 11.37 |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | $59.0K | $0 | - | - | $192.0K | $249.0K | $0 | $0 | $571.0K |
| Cost of revenue | - | - | - | - | - | $0 | $0 | - | -$714.0K | $343.0K | -$80.0K | -$221.0K |
| Gross profit | - | - | - | - | - | - | - | - | $963.0K | -$343.0K | $80.0K | $792.0K |
| Research and development | $15.05M | $23.42M | $14.05M | $13.27M | $13.62M | $14.07M | $9.12M | $8.18M | $9.54M | $4.60M | $2.12M | $1.87M |
| Selling, general and admin | $8.35M | $8.10M | $6.85M | $6.53M | $5.58M | $5.24M | $5.55M | $5.23M | $4.29M | $4.53M | $3.19M | $2.68M |
| Operating income | -$23.40M | -$31.52M | -$20.90M | -$19.74M | -$19.20M | -$19.32M | -$14.67M | -$13.31M | -$12.86M | -$9.57M | -$32.77M | -$7.66M |
| Pre-tax income | -$18.94M | -$36.34M | -$19.62M | -$13.59M | -$30.61M | -$20.75M | -$13.14M | -$35.23M | $23.02M | $98.47M | -$121.28M | -$8.18M |
| Income tax | $7.0K | $18.0K | $12.0K | $130.0K | $11.0K | $16.0K | $8.0K | $114.0K | -$14.0K | $7.0K | $7.0K | -$9.0K |
| Net income | -$18.95M | -$36.36M | -$19.63M | -$13.72M | -$30.63M | -$20.77M | -$13.15M | -$35.34M | $23.04M | $98.46M | -$121.29M | -$8.17M |
| EPS, basic | -$0.34 | -$0.83 | -$0.98 | - | -$2.19 | -$1.92 | -$1.25 | - | $0.98 | $4.21 | -$141.14 | - |
| EPS, diluted | -$0.34 | -$0.83 | -$0.98 | - | -$2.19 | -$1.92 | -$1.25 | - | -$2.83 | -$14.07 | -$141.14 | - |
| Diluted shares | 55.1M | 43.6M | 20.1M | - | 14.0M | 10.8M | 10.5M | - | 10.8M | 7.7M | 859,381 | - |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $64.99M | $85.38M | $24.99M | $15.86M | $26.96M | $42.29M | $125.05M | $134.70M | $81.86M | $93.43M | $110.18M | $7.55M |
| Short-term investments | $327.98M | $314.89M | $57.01M | $82.48M | $84.65M | $70.97M | - | $0 | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - | - | $0 |
| Current assets | $400.74M | $407.93M | $88.83M | $105.29M | $113.85M | $115.19M | $126.94M | $138.89M | $86.15M | $95.89M | $111.21M | $8.39M |
| Goodwill | $10.50M | $10.50M | $10.50M | $10.50M | $10.50M | $10.50M | $10.50M | $10.50M | $10.50M | $10.50M | $10.50M | $10.50M |
| Total assets | $481.43M | $490.78M | $99.89M | $116.46M | $125.10M | $126.58M | $138.52M | $150.73M | $98.45M | $108.31M | $123.73M | $20.99M |
| Current liabilities | $24.09M | $21.13M | $11.60M | $12.94M | $7.97M | $9.26M | $5.62M | $6.96M | $60.67M | $96.40M | $215.70M | $4.62M |
| Total liabilities | $44.88M | $42.12M | $31.57M | $33.41M | $33.55M | $22.01M | $15.91M | $17.70M | $75.72M | $110.46M | $224.81M | $13.69M |
| Shareholders' equity | $436.55M | $448.66M | $68.32M | $83.05M | $91.55M | $104.57M | $122.61M | $133.03M | $21.08M | -$13.61M | -$112.54M | $7.30M |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$11.54M | -$19.99M | -$17.69M | -$14.25M | -$16.36M | -$11.39M | -$9.46M | -$15.04M | -$11.53M | -$16.28M | -$6.20M | -$2.77M |
| Investing cash flow | -$11.23M | -$329.93M | $25.50M | $2.40M | -$13.26M | -$70.86M | $0 | $0 | $0 | $0 | $356.0K | $0 |
| Financing cash flow | $2.54M | $410.21M | $1.40M | $687.0K | $14.37M | -$469.0K | $0 | $67.71M | $0 | -$472.0K | $108.61M | $1.0K |
| Stock-based compensation | $5.22M | $5.30M | $3.58M | $4.51M | $3.15M | $2.72M | $3.24M | $2.90M | $1.85M | $471.0K | $629.0K | $776.0K |
| Depreciation and amortization | $18.0K | $17.0K | $17.0K | $16.0K | $59.0K | $134.0K | $135.0K | $68.0K | $34.0K | $33.0K | $34.0K | $43.0K |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | - | - | - | -69.3% | -100.0% | - | - | -66.4% | 5.5% | -100.0% | -100.0% | -36.3% |
| Gross margin | - | - | - | - | - | - | - | - | 386.7% | - | - | 138.7% |
| Operating margin | - | - | - | -33461.0% | - | - | - | -6932.8% | -5165.1% | - | - | -1341.2% |
| Net margin | - | - | - | -23254.2% | - | - | - | -18405.7% | 9251.8% | - | - | -1430.5% |
| Current ratio | 16.63 | 19.31 | 7.66 | 8.14 | 14.28 | 12.44 | 22.61 | 19.96 | 1.42 | 0.99 | 0.52 | 1.82 |
Source: XBRL data Avalo Therapeutics Inc. files with the SEC, latest filing dated Nov 5, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures and share counts are restated for stock splits the filings show: 1-for-240, first reported Mar 29, 2024.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| AVTX | $59.0K | -86.6% | -$78.26M | -132642.4% | $371.7M |
| LLY | $86.46B | +45.5% | $27.58B | 31.9% | $1.27T |
| JNJ | $99.33B | +7.8% | $16.09B | 16.2% | $664.95B |
| ABBV | $66.01B | +10.7% | $10.34B | 15.7% | $514.92B |
| MRK | $67.38B | +4.9% | $2.45B | 3.6% | $361.71B |
| NVS | $54.53B | +8.4% | $13.98B | 25.6% | $310.17B |
| AZN | $58.74B | +8.6% | $10.22B | 17.4% | $289.10B |
| ABT | $48.23B | +10.0% | $4.70B | 9.7% | $190.39B |
| NVO | DKK 309.06B | +6.4% | DKK 102.43B | 33.1% | $178.51B |