For the twelve months ended Jun 30, 2026, Connect Biopharma Holdings Limited reported $2.95M of revenue and -$68.99M of net income.
CNTB revenue was $2.77M in fiscal Q2 2026 (ended Jun 30, 2026), up about 58-fold from a year earlier and up about 16-fold from the prior quarter. For the full fiscal 2025 it was $64.0K, down 99.8% from fiscal 2024.
CNTB net income was -$17.28M in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$12.90M a year earlier. For the full fiscal 2025 it was -$55.48M, compared with -$15.63M in fiscal 2024.
CNTB diluted EPS was -$0.27 in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$0.23 a year earlier. For the full fiscal 2025 it was -$1.00, compared with -$0.28 in fiscal 2024.
CNTB free cash flow was -$15.92M in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$12.89M a year earlier. For the full fiscal 2025 it was -$51.64M, compared with -$24.36M in fiscal 2024.
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $64.0K | $26.03M | $0 | - | - |
| Research and development | $37.80M | $29.26M | $53.00M | $96.63M | $80.50M |
| Selling, general and admin | $20.34M | $19.23M | $16.05M | $20.81M | $19.01M |
| Operating income | -$58.07M | -$22.45M | -$69.06M | -$119.32M | -$98.11M |
| Interest expense | - | - | $23.0K | $21.0K | $18.0K |
| Pre-tax income | -$55.28M | -$15.40M | -$61.99M | -$117.79M | -$202.00M |
| Income tax | $197.0K | $223.0K | $120.0K | $298.0K | $266.0K |
| Net income | -$55.48M | -$15.63M | -$62.11M | -$118.09M | -$202.27M |
| EPS, basic | -$1.00 | -$0.28 | -$1.13 | -$2.15 | -$3.88 |
| EPS, diluted | -$1.00 | -$0.28 | -$1.13 | -$2.15 | -$3.88 |
| Diluted shares | 55.7M | 55.2M | 55.1M | 55.0M | 52.2M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
|---|---|---|---|---|---|
| Cash and equivalents | $38.34M | $78.23M | $105.66M | $78.95M | $267.72M |
| Short-term investments | $6.00M | $15.48M | $12.64M | - | - |
| Receivables | $13.0K | $789.0K | $0 | - | - |
| Current assets | $50.93M | $96.96M | $122.55M | $155.78M | $275.13M |
| Total assets | $56.08M | $101.28M | $127.38M | $174.01M | $291.05M |
| Current liabilities | $13.61M | $8.46M | $25.29M | $15.62M | $17.98M |
| Total debt | - | - | $0 | $0 | - |
| Total liabilities | $14.10M | $9.12M | $25.88M | $16.52M | $18.80M |
| Shareholders' equity | $41.98M | $92.17M | $101.50M | $158.42M | $272.26M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
|---|---|---|---|---|---|
| Operating cash flow | -$51.21M | -$23.61M | -$47.74M | -$101.52M | -$84.32M |
| Capital expenditures | $434.0K | $750.0K | $81.0K | $4.41M | $3.83M |
| Free cash flow | -$51.64M | -$24.36M | -$47.82M | -$105.92M | -$88.16M |
| Investing cash flow | $9.82M | -$3.45M | $74.98M | -$86.24M | -$5.21M |
| Financing cash flow | $1.09M | $227.0K | $45.0K | -$85.0K | $202.22M |
| Share repurchases | - | - | $0 | $0 | $566.0K |
| Stock-based compensation | $3.73M | $6.73M | $5.40M | $6.91M | $8.99M |
| Depreciation and amortization | $704.0K | $660.0K | $720.0K | - | - |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue growth, YoY | -99.8% | - | - | - | - |
| Operating margin | -90740.6% | -86.2% | - | - | - |
| Net margin | -86687.5% | -60.0% | - | - | - |
| Free cash flow margin | -80687.5% | -93.6% | - | - | - |
| Return on equity | -132.2% | -17.0% | -61.2% | -74.5% | -74.3% |
| Return on assets | -98.9% | -15.4% | -48.8% | -67.9% | -69.5% |
| Current ratio | 3.74 | 11.46 | 4.85 | 9.97 | 15.30 |
| Debt to equity | - | - | 0.00 | 0.00 | - |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.77M | $169.0K | $0 | $16.0K | $48.0K | $0 | $698.0K | $1.22M | $24.12M | $0 |
| Research and development | $16.27M | $15.03M | $11.28M | $11.11M | $8.77M | $6.63M | $6.24M | $9.01M | $5.35M | $8.66M |
| Selling, general and admin | $4.10M | $4.75M | $4.24M | $6.58M | $4.70M | $4.81M | $4.08M | $6.06M | $5.12M | $3.97M |
| Operating income | -$17.60M | -$19.61M | -$15.53M | -$17.68M | -$13.42M | -$11.45M | -$9.62M | -$13.85M | $13.65M | -$12.63M |
| Pre-tax income | -$17.22M | -$19.35M | -$15.08M | -$17.14M | -$12.84M | -$10.22M | -$8.80M | -$12.82M | $14.88M | -$8.66M |
| Income tax | $60.0K | $48.0K | $27.0K | $61.0K | $55.0K | $54.0K | $106.0K | $57.0K | $30.0K | $30.0K |
| Net income | -$17.28M | -$19.40M | -$15.11M | -$17.20M | -$12.90M | -$10.27M | -$8.91M | -$12.88M | $14.85M | -$8.69M |
| EPS, basic | -$0.27 | -$0.34 | -$0.27 | -$0.31 | -$0.23 | -$0.19 | -$0.16 | -$0.23 | $0.27 | -$0.16 |
| EPS, diluted | -$0.27 | -$0.34 | -$0.27 | -$0.31 | -$0.23 | -$0.19 | -$0.16 | -$0.23 | $0.27 | -$0.16 |
| Diluted shares | 62.9M | 56.5M | - | 55.7M | 55.5M | 55.4M | - | 55.3M | 55.7M | 55.1M |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $27.02M | $46.03M | $38.34M | $37.84M | $40.63M | $47.71M | $78.23M | $97.19M | $109.84M | $114.10M |
| Short-term investments | $4.47M | $0 | $6.00M | $16.94M | $31.14M | $36.29M | $15.48M | - | - | - |
| Receivables | $2.94M | $0 | $13.0K | $17.0K | $0 | $8.0K | $789.0K | - | - | - |
| Current assets | $38.62M | $55.02M | $50.93M | $62.60M | $77.76M | $87.75M | $96.96M | - | - | - |
| Total assets | $43.47M | $60.07M | $56.08M | $67.36M | $82.72M | $92.69M | $101.28M | - | - | - |
| Current liabilities | $16.30M | $17.05M | $13.61M | $11.43M | $10.74M | $8.56M | $8.46M | - | - | - |
| Total liabilities | $16.61M | $17.44M | $14.10M | $11.99M | $11.38M | $9.79M | $9.12M | - | - | - |
| Shareholders' equity | $26.86M | $42.62M | $41.98M | $55.37M | $71.34M | $82.90M | $92.17M | $100.65M | $110.93M | $93.89M |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$15.92M | -$16.00M | -$11.25M | -$17.41M | -$12.59M | -$9.96M | -$2.32M | -$13.01M | -$7.70M | -$591.0K |
| Capital expenditures | $0 | $0 | $16.0K | $34.0K | $303.0K | $81.0K | $313.0K | $147.0K | $290.0K | $0 |
| Free cash flow | -$15.92M | -$16.00M | -$11.27M | -$17.44M | -$12.89M | -$10.04M | -$2.63M | -$13.15M | -$7.99M | -$591.0K |
| Investing cash flow | -$4.47M | $6.00M | $10.98M | $14.35M | $5.13M | -$20.64M | -$15.76M | -$147.0K | $3.21M | $9.25M |
| Financing cash flow | $1.33M | $17.62M | $715.0K | $215.0K | $161.0K | $2.0K | $106.0K | $0 | $121.0K | $0 |
| Stock-based compensation | $1.26M | $1.20M | $917.0K | $916.0K | $951.0K | $942.0K | $1.40M | $2.02M | $1.99M | $1.32M |
| Depreciation and amortization | $161.0K | $164.0K | $181.0K | $179.0K | $171.0K | $173.0K | $158.0K | $176.0K | $162.0K | $164.0K |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | 5666.7% | - | -100.0% | -98.7% | -99.8% | - | - | - | - | - |
| Operating margin | -636.0% | -11601.8% | - | -110481.3% | -27966.7% | - | -1378.1% | -1135.8% | 56.6% | - |
| Net margin | -624.4% | -11478.1% | - | -107500.0% | -26872.9% | - | -1275.9% | -1056.3% | 61.6% | - |
| Free cash flow margin | -575.2% | -9470.4% | - | -109000.0% | -26862.5% | - | -377.1% | -1079.1% | -33.1% | - |
| Current ratio | 2.37 | 3.23 | 3.74 | 5.48 | 7.24 | 10.25 | 11.46 | - | - | - |
Source: XBRL data Connect Biopharma Holdings Limited files with the SEC, latest filing dated Aug 12, 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.
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| CNTB | $2.95M | +50.3% | -$68.99M | -2336.3% | $47.1M |
| 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 |