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Financials · CRDL

Cardiol Therapeutics Inc. (CRDL) financials

For fiscal 2025 (ended Dec 31, 2025), Cardiol Therapeutics Inc. reported C$726.4K of revenue and -C$33.82M of net income. Figures are in CAD, the currency of its SEC filings.

Revenue, FY2025
C$726.4K
Revenue growth, YoY
-39.1%
Net income, FY2025
-C$33.82M
Net margin
-4655.7%
Free cash flow, FY2025
-C$23.88M
EPS, diluted, FY2025
-C$0.39
Cash
C$21.42M
Annual revenueC$726.4K
FY2020FY2025
Annual net income-C$33.82M
FY2020FY2025
Annual free cash flow-C$23.88M
FY2020FY2025

CRDL revenue and earnings growth

CRDL revenueFY2025C$726.4K

FY YoY
-39.1%
5Y CAGR
+56.8%

CRDL revenue was C$726.4K for fiscal 2025 (ended Dec 31, 2025), down 39.1% from fiscal 2024. Compound annual growth was +56.8% over 5 years. It rose in 3 of the last 5 fiscal years.

CRDL net incomeFY2025-C$33.82M

CRDL net income was -C$33.82M for fiscal 2025 (ended Dec 31, 2025), compared with -C$36.68M in fiscal 2024.

CRDL EPSFY2025-C$0.39

CRDL diluted EPS was -C$0.39 for fiscal 2025 (ended Dec 31, 2025), compared with -C$0.51 in fiscal 2024.

CRDL free cash flowFY2025-C$23.88M

CRDL free cash flow was -C$23.88M for fiscal 2025 (ended Dec 31, 2025), compared with -C$25.08M 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
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
RevenueC$726.4KC$1.19MC$2.04MC$1.24MC$78.8KC$76.6K
Research and developmentC$14.02MC$14.01MC$14.22MC$18.96MC$10.87MC$10.60M
Selling, general and adminC$20.30MC$26.26MC$15.56MC$22.37MC$27.87MC$10.09M
Operating income-C$34.32M-C$40.28M-C$29.79M-C$41.34M-C$38.66M-C$20.69M
Income tax---C$0C$0C$0
Net income-C$33.82M-C$36.68M-C$28.13M-C$30.93M-C$31.64M-C$20.64M
EPS, basic-C$0.39-C$0.51-C$0.44-C$0.49-C$0.73-C$0.69
EPS, diluted-C$0.39-C$0.51-C$0.44-C$0.49-C$0.73-C$0.69
Diluted shares87.0M71.6M64.5M62.5M43.2M29.9M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
Cash and equivalentsC$21.42MC$30.58MC$34.93MC$59.47MC$83.90MC$14.03M
Inventory-----C$18.0K
Current assetsC$23.50MC$31.67MC$36.15MC$61.44MC$87.14MC$14.95M
Total assetsC$23.62MC$31.86MC$36.70MC$62.03MC$87.88MC$15.89M
Current liabilitiesC$5.66MC$7.01MC$8.30MC$9.80MC$11.57MC$2.52M
Total liabilitiesC$5.74MC$7.14MC$8.45MC$9.83MC$11.64MC$2.62M
Shareholders' equityC$17.88MC$24.73MC$28.25MC$52.20MC$76.24MC$13.27M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
Operating cash flow-C$23.85M-C$25.06M-C$25.18M-C$27.22M-C$23.54M-C$9.13M
Capital expendituresC$24.5KC$21.3KC$64.3KC$74.7KC$12.9KC$40.6K
Free cash flow-C$23.88M-C$25.08M-C$25.24M-C$27.30M-C$23.55M-C$9.17M
Investing cash flow-C$24.5K-C$21.3K-C$64.3K-C$74.7K-C$12.9K-C$40.6K
Financing cash flowC$15.54MC$18.84M-C$55.4K-C$53.9KC$93.44MC$16.30M
Stock-based compensationC$10.70MC$14.28MC$4.16MC$5.01MC$8.50MC$2.77M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
Revenue growth, YoY-39.1%-41.5%64.7%1471.4%2.8%-
Operating margin-4724.2%-3375.1%-1461.2%-3339.9%-49091.9%-27017.0%
Net margin-4655.7%-3073.5%-1379.9%-2499.2%-40170.4%-26952.4%
Free cash flow margin-3287.3%-2101.8%-1238.4%-2205.4%-29904.2%-11973.9%
Return on equity-189.2%-148.3%-99.6%-59.3%-41.5%-155.5%
Return on assets-143.2%-115.1%-76.6%-49.9%-36.0%-129.9%
Current ratio4.164.524.366.277.535.94

Source: XBRL data Cardiol Therapeutics Inc. files with the SEC, latest filing dated Mar 31, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

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.

Foreign private issuers file annual reports with the SEC, so there are no quarterly statements here.

CRDL peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
CRDLC$726.4K-39.1%-C$33.82M-4655.7%$121.9M
AMGN$38.90B+8.2%$9.39B24.1%$253.21B
GILD$30.99B+6.5%-$3.86B-12.5%$210.52B
MRNA$2.52B+13.1%-$2.79B-110.5%$100.63B
ARGX$4.25B+88.6%$1.29B30.4%$60.67B
RVMD$0--$1.13B-$39.08B
BIIB$10.30B+2.3%$347.50M3.4%$37.46B
BNTX€2.87B+4.3%-€1.14B-39.6%$22.02B
NBIX$3.70B+38.0%$702.50M19.0%$17.65B

CRDL FAQ

8 questions
  • What is CRDL revenue?
    Cardiol Therapeutics Inc. (CRDL) reported C$726.4K of revenue for fiscal 2025 (ended Dec 31, 2025). That is down 39.1% from the year before.
  • Is CRDL profitable?
    No. Cardiol Therapeutics Inc. reported a net loss of C$33.82M for fiscal 2025 (ended Dec 31, 2025).
  • How much cash and debt does CRDL have?
    Cardiol Therapeutics Inc. reported C$21.42M in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is CRDL revenue growing?
    Cardiol Therapeutics Inc.'s revenue changed -39.1% in fiscal 2025, to C$726.4K. Its compound annual growth rate was +56.8% over 5 years.
  • What is CRDL free cash flow?
    Cardiol Therapeutics Inc. generated -C$23.88M of free cash flow for fiscal 2025 (ended Dec 31, 2025), which is operating cash flow of -C$23.85M less capital expenditures.
  • What is CRDL earnings per share?
    Diluted earnings per share were -C$0.39 for fiscal 2025 (ended Dec 31, 2025), from SEC filings, restated for any stock split those filings show.
  • When did CRDL last report financial results?
    The latest statements here come from Cardiol Therapeutics Inc.'s 40-F filed on Mar 31, 2026, covering the period ended Dec 31, 2025.
  • Where does this CRDL financial data come from?
    Quantisnow builds these statements from the structured XBRL data Cardiol Therapeutics Inc. files with the SEC. It is provided for information only and is not investment advice.