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Financials · CGON

CG Oncology Inc. (CGON) financials

For the twelve months ended Sep 30, 2026, CG Oncology Inc. reported $6.17M of revenue and -$237.46M of net income.

Revenue, TTM
$6.17M
Revenue growth, YoY
+183.6%
Net income, TTM
-$237.46M
Net margin
-3851.1%
Free cash flow, TTM
-$189.17M
EPS, diluted, TTM
-$2.77
Cash
$28.25M
Total debt
$3.00M
P/S
1074.44
Market cap
$6.62B
Annual revenue$4.04M
FY2023FY2025
Annual net income-$161.00M
FY2023FY2025
Annual free cash flow-$132.48M
FY2024FY2025

CGON revenue and earnings growth

CGON revenueQ3 2026$1.60M

Quarter YoY
-3.7%
QoQ
+38.6%
FY YoY
+254.7%

CGON revenue was $1.60M in fiscal Q3 2026 (ended Sep 30, 2026), down 3.7% from a year earlier and up 38.6% from the prior quarter. For the full fiscal 2025 it was $4.04M, up 254.7% from fiscal 2024.

CGON net incomeQ3 2026-$56.89M

CGON net income was -$56.89M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$43.81M a year earlier. For the full fiscal 2025 it was -$161.00M, compared with -$88.04M in fiscal 2024.

CGON EPSQ3 2026-$0.64

CGON diluted EPS was -$0.64 in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$0.57 a year earlier. For the full fiscal 2025 it was -$2.08, compared with -$1.41 in fiscal 2024.

CGON free cash flowQ3 2026-$48.82M

CGON free cash flow was -$48.82M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$38.99M a year earlier. For the full fiscal 2025 it was -$132.48M, compared with -$78.95M in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
Revenue$4.04M$1.14M$204.0K
Research and development$116.64M$82.10M$45.75M
Selling, general and admin$73.53M$33.70M$9.90M
Operating income-$190.77M-$114.67M-$55.45M
Income tax-$270.0K$1.0K$1.0K
Net income-$161.00M-$88.04M-$48.61M
EPS, basic-$2.08-$1.41-$15.65
EPS, diluted-$2.08-$1.41-$15.65
Diluted shares77.3M62.5M4.3M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
Cash and equivalents$32.49M$257.07M$8.27M
Short-term investments$709.66M$484.93M$179.41M
Receivables$688.0K$0-
Inventory$1.56M$0-
Current assets$759.48M$754.21M$194.12M
Goodwill$10.30M$0-
Total assets$791.59M$754.80M$199.30M
Current liabilities$30.84M$21.37M$14.25M
Long-term debt$3.00M$0-
Total debt$3.00M$0-
Total liabilities$38.99M$21.42M$14.51M
Shareholders' equity$752.60M$733.38M-$123.10M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
Operating cash flow-$132.35M-$78.71M-$45.68M
Capital expenditures$134.0K$234.0K-
Free cash flow-$132.48M-$78.95M-
Investing cash flow-$245.82M-$300.76M-$121.19M
Financing cash flow$153.59M$628.28M$87.00M
Stock-based compensation$26.68M$11.40M$1.53M
Depreciation and amortization$1.45M$32.0K$17.0K

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
Revenue growth, YoY254.7%458.3%-
Operating margin-4722.1%-10067.3%-27180.9%
Net margin-3985.0%-7729.5%-23827.0%
Free cash flow margin-3279.2%-6931.3%-
Return on equity-21.4%-12.0%-
Return on assets-20.3%-11.7%-24.4%
Current ratio24.6335.3013.62
Debt to equity0.000.00-

Source: XBRL data CG Oncology Inc. files with the SEC, latest filing dated Nov 6, 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 are as filed. The filings show no stock split in these periods.

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.

CGON peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
CGON$6.17M+183.6%-$237.46M-3851.1%$6.62B
AMGN$38.90B+8.2%$9.39B24.1%$251.65B
GILD$30.99B+6.5%-$3.86B-12.5%$210.01B
MRNA$2.52B+13.1%-$2.79B-110.5%$107.39B
ARGX$4.25B+88.6%$1.29B30.4%$59.72B
RVMD$0--$1.13B-$43.29B
BIIB$10.30B+2.3%$347.50M3.4%$37.67B
BNTX€2.87B+4.3%-€1.14B-39.6%$21.98B
EXEL$2.50B+9.1%$885.14M35.5%$17.51B

CGON FAQ

8 questions
  • What is CGON revenue?
    CG Oncology Inc. (CGON) reported $6.17M of revenue for the twelve months ended Sep 30, 2026. That is up 183.6% from the year before. Revenue for fiscal 2025 was $4.04M.
  • Is CGON profitable?
    No. CG Oncology Inc. reported a net loss of $237.46M for the twelve months ended Sep 30, 2026.
  • How much cash and debt does CGON have?
    CG Oncology Inc. reported $28.25M in cash and cash equivalents and $3.00M of debt on its most recent balance sheet in SEC filings.
  • How fast is CGON revenue growing?
    CG Oncology Inc.'s revenue changed +254.7% in fiscal 2025, to $4.04M.
  • What is CGON free cash flow?
    CG Oncology Inc. generated -$189.17M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of -$187.28M less capital expenditures.
  • What is CGON earnings per share?
    Diluted earnings per share were -$2.77 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did CGON last report financial results?
    The latest statements here come from CG Oncology Inc.'s 10-Q filed on Nov 6, 2026, covering the period ended Sep 30, 2026.
  • Where does this CGON financial data come from?
    Quantisnow builds these statements from the structured XBRL data CG Oncology Inc. files with the SEC. It is provided for information only and is not investment advice.