DNLI revenueQ3 2026$17.78M
- QoQ
- +393.3%
DNLI revenue was $17.78M in fiscal Q3 2026 (ended Sep 30, 2026), compared with $0 a year earlier and up 393.3% from the prior quarter. For the full fiscal 2025 it was $0, compared with $0 in fiscal 2024.
Denali Therapeutics Inc. (DNLI) financials
For the twelve months ended Sep 30, 2026, Denali Therapeutics Inc. reported $21.38M of revenue and -$314.42M of net income.
- Revenue, TTM
- $21.38M
- Net income, TTM
- -$314.42M
- Net margin
- -1470.5%
- Free cash flow, TTM
- -$449.99M
- EPS, diluted, TTM
- -$1.73
- Cash
- $102.87M
- P/S
- 152.40
- Market cap
- $3.26B
FY2016FY2025
FY2016FY2025
FY2016FY2025
DNLI revenue and earnings growth
DNLI net incomeQ3 2026$70.13M
DNLI net income was $70.13M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$126.90M a year earlier. For the full fiscal 2025 it was -$512.54M, compared with -$422.77M in fiscal 2024.
DNLI EPSQ3 2026$0.37
DNLI diluted EPS was $0.37 in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$0.74 a year earlier. For the full fiscal 2025 it was -$2.97, compared with -$2.57 in fiscal 2024.
DNLI free cash flowQ3 2026-$118.45M
DNLI free cash flow was -$118.45M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$108.67M a year earlier. For the full fiscal 2025 it was -$422.10M, compared with -$363.61M 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 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $330.53M | $108.46M | $48.66M | $335.66M | $26.68M | $129.16M | $0 | $0 |
| Research and development | $418.78M | $396.44M | $423.88M | $358.73M | $265.35M | $212.62M | $193.38M | $143.18M | $74.46M | $75.70M |
| Selling, general and admin | $136.56M | $105.44M | $103.35M | $90.47M | $79.06M | $60.33M | $46.48M | $32.35M | $15.68M | $11.73M |
| Operating income | -$555.34M | -$487.34M | -$196.70M | -$340.74M | -$295.75M | $62.72M | -$213.18M | -$46.37M | -$90.14M | -$87.43M |
| Income tax | $102.0K | $68.0K | $30.0K | $21.0K | -$575.0K | $823.0K | -$351.0K | $0 | $0 | - |
| Net income | -$512.54M | -$422.77M | -$145.22M | -$325.99M | -$290.58M | $71.14M | -$197.61M | -$36.24M | -$88.19M | -$86.65M |
| EPS, basic | -$2.97 | -$2.57 | -$1.06 | -$2.60 | -$2.39 | $0.65 | -$2.07 | -$0.39 | -$5.89 | -$13.49 |
| EPS, diluted | -$2.97 | -$2.57 | -$1.06 | -$2.60 | -$2.39 | $0.63 | -$2.07 | -$0.39 | -$5.89 | -$13.49 |
| Diluted shares | 172.6M | 164.5M | 137.4M | 125.5M | 121.5M | 112.7M | 95.6M | 92.6M | 15.0M | 6.4M |
Balance sheet
| 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 | $205.33M | $176.53M | $128.68M | $219.54M | $294.98M | $508.64M | $80.95M | $78.62M | $218.91M | $40.39M |
| Short-term investments | $662.55M | $657.37M | $907.40M | $1.12B | $571.93M | $962.55M | $335.91M | $387.17M | $187.85M | - |
| Receivables | $0 | - | - | - | - | $8.59M | - | - | - | - |
| Inventory | $0 | - | - | - | - | - | - | - | - | - |
| Current assets | $900.66M | $864.44M | $1.06B | $1.37B | $897.23M | $1.50B | $430.03M | $480.84M | $409.61M | - |
| Total assets | $1.14B | $1.37B | $1.15B | $1.46B | $1.40B | $1.60B | $553.23M | $661.98M | $486.72M | - |
| Current liabilities | $98.35M | $102.21M | $77.98M | $363.92M | $378.25M | $71.70M | $45.34M | $32.79M | $14.16M | - |
| Total liabilities | $131.09M | $144.50M | $122.96M | $417.81M | $441.87M | $453.75M | $158.34M | $115.14M | $20.93M | - |
| Shareholders' equity | $1.01B | $1.23B | $1.03B | $1.04B | $962.29M | $1.15B | $394.89M | $546.85M | $465.80M | -$94.15M |
Cash flow
| 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 | -$412.60M | -$347.69M | -$357.99M | -$244.72M | -$211.39M | $416.15M | -$151.58M | $50.12M | -$76.64M | -$71.91M |
| Capital expenditures | $9.50M | $15.91M | $12.94M | $17.83M | $8.50M | $3.10M | $17.92M | $3.39M | $2.88M | $6.13M |
| Free cash flow | -$422.10M | -$363.61M | -$370.93M | -$262.55M | -$219.89M | $413.06M | -$169.50M | $46.72M | -$79.51M | -$78.04M |
| Investing cash flow | $255.28M | -$88.76M | $249.31M | -$141.39M | -$21.63M | -$623.21M | $147.71M | -$287.42M | -$41.17M | -$219.00M |
| Financing cash flow | $189.22M | $484.30M | $17.82M | $310.67M | $19.35M | $634.75M | $6.19M | $97.02M | $296.32M | $300.48M |
| Stock-based compensation | $99.63M | $102.88M | $108.10M | $99.85M | $85.25M | $50.35M | $38.38M | $18.79M | $4.41M | $2.95M |
| Depreciation and amortization | $11.18M | $7.79M | $16.73M | $10.38M | $8.59M | $8.53M | $7.99M | $7.42M | $3.08M | $1.47M |
Key ratios
| 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 | - | -100.0% | 204.7% | 122.9% | -85.5% | 1158.2% | -79.3% | - | - | - |
| Operating margin | - | - | -59.5% | -314.2% | -607.8% | 18.7% | -799.1% | -35.9% | - | - |
| Net margin | - | - | -43.9% | -300.6% | -597.2% | 21.2% | -740.7% | -28.1% | - | - |
| Free cash flow margin | - | - | -112.2% | -242.1% | -451.9% | 123.1% | -635.3% | 36.2% | - | - |
| Return on equity | -50.6% | -34.4% | -14.1% | -31.3% | -30.2% | 6.2% | -50.0% | -6.6% | -18.9% | - |
| Return on assets | -44.8% | -30.8% | -12.6% | -22.3% | -20.7% | 4.4% | -35.7% | -5.5% | -18.1% | - |
| Current ratio | 9.16 | 8.46 | 13.65 | 3.77 | 2.37 | 20.86 | 9.48 | 14.67 | 28.92 | - |
Income statement
| 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 | $17.78M | $3.60M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | - |
| Cost of revenue | $192.0K | $93.0K | $0 | - | $0 | $0 | $0 | - | - | - | - | - |
| Gross profit | $17.59M | $3.51M | $0 | - | $0 | $0 | $0 | - | - | - | - | - |
| Research and development | $106.10M | $97.02M | $103.85M | $97.91M | $101.95M | $102.70M | $116.23M | $99.79M | $98.24M | $91.40M | $107.02M | $107.80M |
| Selling, general and admin | $37.48M | $36.28M | $33.51M | $39.46M | $35.48M | $32.27M | $29.35M | $30.06M | $24.95M | $25.19M | $25.24M | $24.77M |
| Operating income | -$126.75M | -$130.54M | -$137.36M | -$137.37M | -$137.43M | -$134.96M | -$145.58M | -$129.85M | -$123.19M | -$116.59M | -$117.72M | -$132.57M |
| Income tax | - | - | - | - | - | - | - | - | - | - | - | $30.0K |
| Net income | $70.13M | -$127.55M | -$128.45M | -$128.55M | -$126.90M | -$124.12M | -$132.97M | -$114.75M | -$107.19M | -$99.03M | -$101.80M | -$119.47M |
| EPS, basic | $0.37 | -$0.68 | -$0.69 | -$0.73 | -$0.74 | -$0.72 | -$0.78 | -$0.67 | -$0.63 | -$0.59 | -$0.68 | -$0.88 |
| EPS, diluted | $0.37 | -$0.68 | -$0.69 | -$0.73 | -$0.74 | -$0.72 | -$0.78 | -$0.67 | -$0.63 | -$0.59 | -$0.68 | -$0.84 |
| Diluted shares | 192.1M | 187.3M | 186.6M | - | 172.4M | 171.4M | 171.2M | - | 169.5M | 168.8M | 149.4M | - |
Balance sheet
| 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 | $102.87M | $201.53M | $387.63M | $205.33M | $94.07M | $144.31M | $60.05M | $176.53M | $92.21M | $76.25M | $62.15M | $128.68M |
| Short-term investments | $413.33M | $508.94M | $600.06M | $662.55M | $757.24M | $757.75M | $760.98M | $657.37M | $745.92M | $821.37M | $876.29M | $907.40M |
| Receivables | $18.88M | $3.93M | - | $0 | - | - | - | - | - | - | - | - |
| Inventory | $26.27M | $4.14M | - | $0 | - | - | - | - | - | - | - | - |
| Current assets | $591.71M | $753.93M | $1.02B | $900.66M | $882.60M | $934.71M | $878.64M | $864.44M | $868.84M | $928.38M | $973.58M | $1.06B |
| Total assets | $1.26B | $1.16B | $1.27B | $1.14B | $1.06B | $1.17B | $1.27B | $1.37B | $1.45B | $1.50B | $1.58B | $1.15B |
| Current liabilities | $95.26M | $90.08M | $110.16M | $98.35M | $90.15M | $91.06M | $91.88M | $102.21M | $87.09M | $74.53M | $82.58M | $77.98M |
| Total liabilities | $329.65M | $322.78M | $339.93M | $131.09M | $129.42M | $139.19M | $148.66M | $144.50M | $135.52M | $115.51M | $125.62M | $122.96M |
| Shareholders' equity | $926.39M | $835.18M | $926.10M | $1.01B | $926.20M | $1.03B | $1.12B | $1.23B | $1.32B | $1.39B | $1.46B | $1.03B |
Cash flow
| 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 | -$117.44M | -$97.00M | -$131.20M | -$98.54M | -$107.30M | -$75.30M | -$131.47M | -$83.72M | -$59.14M | -$91.22M | -$113.62M | -$98.66M |
| Capital expenditures | $1.01M | $805.0K | $2.47M | $1.52M | -$1.38M | $4.28M | $5.08M | $5.09M | $3.88M | $4.79M | $2.15M | $2.23M |
| Free cash flow | -$118.45M | -$97.81M | -$133.67M | -$100.06M | -$108.67M | -$79.58M | -$136.55M | -$88.81M | -$63.02M | -$96.01M | -$115.77M | -$100.89M |
| Investing cash flow | $16.19M | -$104.08M | $94.46M | $20.77M | $57.83M | $157.94M | $18.75M | $172.21M | $93.66M | $98.57M | -$453.19M | $73.05M |
| Financing cash flow | $2.59M | $14.98M | $219.04M | $192.13M | -$778.0K | $1.62M | -$3.76M | -$4.17M | -$18.56M | $6.76M | $500.27M | $4.71M |
| Stock-based compensation | $22.86M | $22.91M | $23.09M | $23.95M | $25.14M | $25.39M | $25.16M | $25.08M | $24.86M | $25.10M | $27.84M | $25.99M |
| Depreciation and amortization | $3.58M | $3.57M | $2.85M | $2.87M | $2.95M | $3.04M | $2.33M | $1.85M | $1.84M | $1.94M | $2.16M | $2.18M |
Key ratios
| 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 | - | - | - | - | - | - | - | - | -100.0% | -100.0% | -100.0% | - |
| Gross margin | 98.9% | 97.4% | - | - | - | - | - | - | - | - | - | - |
| Operating margin | -713.0% | -3622.1% | - | - | - | - | - | - | - | - | - | - |
| Net margin | 394.5% | -3539.2% | - | - | - | - | - | - | - | - | - | - |
| Free cash flow margin | -666.3% | -2713.8% | - | - | - | - | - | - | - | - | - | - |
| Current ratio | 6.21 | 8.37 | 9.28 | 9.16 | 9.79 | 10.27 | 9.56 | 8.46 | 9.98 | 12.46 | 11.79 | 13.65 |
Source: XBRL data Denali Therapeutics Inc. files with the SEC, latest filing dated Nov 3, 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.
DNLI peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| DNLI | $21.38M | - | -$314.42M | -1470.5% | $3.26B |
| AMGN | $38.90B | +8.2% | $9.39B | 24.1% | $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% | $1.29B | 30.4% | $59.72B |
| RVMD | $0 | - | -$1.13B | - | $43.29B |
| BIIB | $10.30B | +2.3% | $347.50M | 3.4% | $37.67B |
| BNTX | €2.87B | +4.3% | -€1.14B | -39.6% | $21.98B |
| EXEL | $2.50B | +9.1% | $885.14M | 35.5% | $17.51B |
DNLI FAQ
7 questionsWhat is DNLI revenue?
Denali Therapeutics Inc. (DNLI) reported $21.38M of revenue for the twelve months ended Sep 30, 2026. Revenue for fiscal 2025 was $0.Is DNLI profitable?
No. Denali Therapeutics Inc. reported a net loss of $314.42M for the twelve months ended Sep 30, 2026.How much cash and debt does DNLI have?
Denali Therapeutics Inc. reported $102.87M in cash and cash equivalents on its most recent balance sheet in SEC filings.What is DNLI free cash flow?
Denali Therapeutics Inc. generated -$449.99M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of -$444.19M less capital expenditures.What is DNLI earnings per share?
Diluted earnings per share were -$1.73 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.When did DNLI last report financial results?
The latest statements here come from Denali Therapeutics Inc.'s 10-Q filed on Nov 3, 2026, covering the period ended Sep 30, 2026.Where does this DNLI financial data come from?
Quantisnow builds these statements from the structured XBRL data Denali Therapeutics Inc. files with the SEC. It is provided for information only and is not investment advice.