CING revenueQ2 2025$93.0K
- Quarter YoY
- 43x
- QoQ
- -17.6%
CING revenue was $93.0K in fiscal Q2 2025 (ended Jun 30, 2025), up about 43-fold from a year earlier and down 17.6% from the prior quarter.
Cingulate Inc. (CING) financials
For the twelve months ended Jun 30, 2026, Cingulate Inc. reported -$28.80M of net income.
- Net income, TTM
- -$28.80M
- Free cash flow, TTM
- -$20.94M
- Cash
- $28.40M
- Market cap
- $64.7M
FY2020FY2025
FY2020FY2025
CING revenue and earnings growth
CING net incomeQ2 2026-$5.87M
CING net income was -$5.87M in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$4.98M a year earlier. For the full fiscal 2025 it was -$22.45M, compared with -$16.56M in fiscal 2024.
CING EPSQ2 2026-$0.45
CING diluted EPS was -$0.45 in fiscal Q2 2026 (ended Jun 30, 2026). For the full fiscal 2025 it was -$4.44.
CING free cash flowQ2 2026-$5.97M
CING free cash flow was -$5.97M in fiscal Q2 2026 (ended Jun 30, 2026). For the full fiscal 2025 it was -$17.41M, compared with -$18.66M in fiscal 2024.
Income statement
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 |
|---|---|---|---|---|---|---|
| Research and development | $9.77M | $9.45M | $15.49M | $9.00M | $8.41M | $5.09M |
| Selling, general and admin | $10.16M | $6.20M | $7.27M | $8.51M | $12.27M | $1.99M |
| Operating income | -$19.94M | -$15.64M | -$22.76M | -$17.50M | -$20.68M | -$7.08M |
| Interest expense | - | - | $790.0K | $292.3K | - | - |
| Pre-tax income | -$22.45M | -$16.56M | -$23.53M | -$17.68M | -$20.71M | -$7.18M |
| Net income | -$22.45M | -$16.56M | -$23.53M | -$17.68M | -$20.71M | -$7.18M |
| EPS, basic | -$4.44 | -$10.86 | -$311.99 | -$352.20 | -$33.48 | - |
| EPS, diluted | -$4.44 | -$10.86 | -$311.99 | -$352.20 | -$33.48 | - |
| Diluted shares | 5.1M | 1.5M | 75,435 | 50,195 | 617,798.25 | - |
Balance sheet
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $10.95M | $12.21M | $52.4K | $5.36M | $16.49M | $1.20M |
| Short-term investments | - | - | - | - | $933 | $933 |
| Receivables | - | - | $14.6K | - | - | - |
| Current assets | $12.01M | $12.66M | $578.6K | $7.87M | $18.88M | $1.79M |
| Total assets | $15.07M | $14.86M | $3.49M | $11.41M | $22.89M | $5.79M |
| Current liabilities | $10.31M | $4.97M | $10.23M | $7.01M | $1.18M | $3.36M |
| Total debt | - | - | $2.10M | - | - | $500.3K |
| Total liabilities | $12.56M | $7.41M | $10.36M | $7.52M | $2.04M | $4.50M |
| Shareholders' equity | $2.51M | $7.46M | -$6.87M | $3.88M | $20.84M | $1.29M |
Cash flow
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$17.25M | -$18.45M | -$15.03M | -$15.88M | -$10.43M | -$6.81M |
| Capital expenditures | $162.1K | $211.8K | $224.1K | $153.4K | $814.7K | $402.1K |
| Free cash flow | -$17.41M | -$18.66M | -$15.26M | -$16.04M | -$11.25M | -$7.21M |
| Investing cash flow | -$162.1K | -$211.8K | -$224.1K | -$152.7K | -$814.7K | -$384.2K |
| Financing cash flow | $16.15M | $30.82M | $9.95M | $4.90M | $26.54M | $7.97M |
| Stock-based compensation | $1.52M | $995.5K | $812.7K | $800.8K | $43.8K | - |
Key ratios
Income statement
| Line item | 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 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | $93.0K | $112.9K | - | - | $2.2K | $7.3K | - | - |
| Research and development | $1.49M | $2.18M | $2.00M | $2.85M | $2.70M | $2.22M | $4.33M | $1.43M | $1.88M | $1.81M | $4.98M | $3.92M |
| Selling, general and admin | $3.93M | $5.74M | $3.58M | $3.15M | $1.95M | $1.48M | $1.88M | $1.85M | $1.33M | $1.14M | $1.81M | $1.83M |
| Operating income | -$5.41M | -$7.92M | -$5.59M | -$6.00M | -$4.65M | -$3.71M | -$6.21M | -$3.28M | -$3.21M | -$2.95M | -$6.80M | -$5.75M |
| Interest expense | - | - | - | - | - | - | - | - | - | $31.3K | $112.5K | $237.5K |
| Pre-tax income | -$5.87M | -$9.31M | -$6.27M | -$7.34M | -$4.98M | -$3.85M | -$6.23M | -$4.13M | -$3.21M | -$2.97M | -$6.93M | -$5.98M |
| Net income | -$5.87M | -$9.31M | -$6.27M | -$7.34M | -$4.98M | -$3.85M | -$6.23M | -$4.13M | -$3.23M | -$2.97M | -$6.93M | -$5.98M |
| EPS, basic | -$0.45 | -$0.95 | - | -$1.35 | -$1.14 | -$1.06 | - | -$2.34 | -$5.47 | -$7.21 | - | -$72.60 |
| EPS, diluted | -$0.45 | -$0.95 | - | -$1.35 | -$1.14 | -$1.06 | - | -$2.34 | -$5.47 | -$7.21 | - | -$72.60 |
| Diluted shares | 13.2M | 9.8M | - | 5.4M | 4.4M | 3.6M | - | 1.8M | 586,313 | 412,126 | - | 82,361 |
Balance sheet
| Line item | 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 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $28.40M | $25.89M | $10.95M | $6.12M | $8.90M | $9.52M | $12.21M | $10.04M | $380.9K | $1.11M | $52.4K | $1.99M |
| Receivables | - | - | - | - | - | - | - | $2.2K | $1.62M | - | $14.6K | - |
| Current assets | $30.21M | $27.91M | $12.01M | $7.43M | $10.22M | $10.50M | $12.66M | $11.34M | $2.52M | $2.73M | $578.6K | $2.90M |
| Total assets | $33.07M | $30.86M | $15.07M | $10.52M | $13.47M | $12.47M | $14.86M | $13.58M | $5.13M | $5.49M | $3.49M | $5.87M |
| Current liabilities | $8.63M | $10.96M | $10.31M | $5.88M | $6.73M | $5.62M | $4.97M | $1.54M | $2.04M | $2.25M | $10.23M | $5.73M |
| Total debt | - | - | - | - | - | - | - | - | - | - | $2.10M | $2.10M |
| Total liabilities | $9.60M | $12.00M | $12.56M | $7.05M | $7.96M | $6.54M | $7.41M | $1.54M | $2.04M | $2.28M | $10.36M | $5.97M |
| Shareholders' equity | $23.47M | $18.86M | $2.51M | $3.47M | $5.51M | $5.93M | $7.46M | $12.04M | $3.08M | $3.22M | -$6.87M | -$96.3K |
Cash flow
| Line item | 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 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$5.90M | -$6.91M | -$3.60M | -$4.24M | -$4.80M | -$4.61M | -$4.08M | -$3.88M | -$1.74M | -$8.75M | -$2.56M | -$4.29M |
| Capital expenditures | $67.1K | $61.2K | $156.2K | $0 | - | - | $198.5K | -$140.8K | $72.6K | $81.5K | $187.0K | $0 |
| Free cash flow | -$5.97M | -$6.97M | -$3.75M | -$4.24M | - | - | -$4.28M | -$4.02M | -$1.81M | -$8.83M | -$2.75M | -$4.29M |
| Investing cash flow | -$67.1K | -$61.2K | -$156.2K | $0 | - | - | -$198.5K | $140.8K | -$72.6K | -$81.5K | -$187.0K | $0 |
| Financing cash flow | $8.48M | $21.91M | $8.59M | $1.46M | $4.18M | $1.92M | $6.45M | $13.40M | $1.08M | $9.89M | $815.4K | $5.93M |
| Stock-based compensation | $362.2K | $593.1K | $386.0K | $592.8K | $187.4K | $357.6K | $60.3K | $393.8K | $376.8K | $164.6K | $154.6K | $236.3K |
Key ratios
| Line item | 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 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | - | - | - | - | 4187.1% | 1447.4% | - | - | - | - | - | - |
| Operating margin | - | - | - | - | -4998.3% | -3281.7% | - | - | -147750.2% | -40397.6% | - | - |
| Net margin | - | - | - | - | -5356.6% | -3411.5% | - | - | -148865.7% | -40730.0% | - | - |
| Free cash flow margin | - | - | - | - | - | - | - | - | -83625.1% | -120962.8% | - | - |
| Current ratio | 3.50 | 2.55 | 1.16 | 1.26 | 1.52 | 1.87 | 2.55 | 7.35 | 1.23 | 1.21 | 0.06 | 0.51 |
Source: XBRL data Cingulate Inc. files with the SEC, latest filing dated Aug 13, 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-12, first reported Aug 13, 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.
CING peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| CING | - | - | -$28.80M | - | $64.7M |
| LLY | $86.46B | +45.5% | $27.58B | 31.9% | $1.33T |
| JNJ | $99.33B | +7.8% | $16.09B | 16.2% | $679.13B |
| ABBV | $66.01B | +10.7% | $10.34B | 15.7% | $518.44B |
| MRK | $67.38B | +4.9% | $2.45B | 3.6% | $366.73B |
| NVS | $54.53B | +8.4% | $13.98B | 25.6% | $312.35B |
| AZN | $58.74B | +8.6% | $10.22B | 17.4% | $293.69B |
| ABT | $48.23B | +10.0% | $4.70B | 9.7% | $191.40B |
| NVO | DKK 309.06B | +6.4% | DKK 102.43B | 33.1% | $183.23B |
CING FAQ
5 questionsIs CING profitable?
No. Cingulate Inc. reported a net loss of $28.80M for the twelve months ended Jun 30, 2026.How much cash and debt does CING have?
Cingulate Inc. reported $28.40M in cash and cash equivalents on its most recent balance sheet in SEC filings.What is CING free cash flow?
Cingulate Inc. generated -$20.94M of free cash flow for the twelve months ended Jun 30, 2026, which is operating cash flow of -$20.65M less capital expenditures.When did CING last report financial results?
The latest statements here come from Cingulate Inc.'s 10-Q filed on Aug 13, 2026, covering the period ended Jun 30, 2026.Where does this CING financial data come from?
Quantisnow builds these statements from the structured XBRL data Cingulate Inc. files with the SEC. It is provided for information only and is not investment advice.