GHRS net incomeFY2025-$48.26M
GHRS net income was -$48.26M for fiscal 2025 (ended Dec 31, 2025), compared with -$38.96M in fiscal 2024.
GH Research PLC (GHRS) financials
For fiscal 2025 (ended Dec 31, 2025), GH Research PLC reported -$48.26M of net income.
- Net income, FY2025
- -$48.26M
- Free cash flow, FY2025
- -$43.67M
- EPS, diluted, FY2025
- -$0.79
- Cash
- $246.25M
- Total debt
- $0
- Market cap
- $1.34B
FY2019FY2025
FY2019FY2025
GHRS revenue and earnings growth
GHRS EPSFY2025-$0.79
GHRS diluted EPS was -$0.79 for fiscal 2025 (ended Dec 31, 2025), compared with -$0.75 in fiscal 2024.
GHRS free cash flowFY2025-$43.67M
GHRS free cash flow was -$43.67M for fiscal 2025 (ended Dec 31, 2025), compared with -$42.33M 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 |
|---|---|---|---|---|---|---|---|
| Research and development | $38.77M | $35.02M | $29.82M | $20.48M | $8.55M | $338.0K | $296.0K |
| Selling, general and admin | $21.95M | $15.30M | $11.40M | $10.07M | $6.55M | $108.0K | $14.0K |
| Operating income | -$60.72M | -$50.31M | -$41.22M | -$30.55M | -$15.10M | -$446.0K | -$310.0K |
| Interest expense | $463.0K | $717.0K | $723.0K | $123.0K | $9.0K | $0 | $0 |
| Pre-tax income | -$48.26M | -$38.96M | -$35.59M | -$22.46M | -$9.20M | -$446.0K | -$310.0K |
| Income tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net income | -$48.26M | -$38.96M | -$35.59M | -$22.46M | -$9.20M | -$446.0K | -$310.0K |
| EPS, basic | -$0.79 | -$0.75 | -$0.68 | -$0.43 | -$0.21 | -$0.02 | -$0.01 |
| EPS, diluted | -$0.79 | -$0.75 | -$0.68 | -$0.43 | -$0.21 | -$0.02 | -$0.01 |
| Diluted shares | 61.0M | 52.0M | 52.0M | 52.0M | 43.7M | 28.4M | 28.0M |
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 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $246.25M | $100.79M | $78.42M | $165.96M | $276.78M | $5.89M | $498.0K |
| Current assets | $285.98M | $154.22M | $164.09M | $168.54M | $279.84M | $5.91M | - |
| Total assets | $288.23M | $188.27M | $226.30M | $254.36M | $279.92M | $5.91M | - |
| Current liabilities | $8.38M | $8.95M | $6.70M | $4.55M | $2.75M | $246.0K | - |
| Total debt | $0 | $0 | $0 | $0 | $0 | - | - |
| Total liabilities | $8.53M | $9.32M | $7.33M | $4.55M | $2.75M | $246.0K | - |
| Shareholders' equity | $279.70M | $178.95M | $218.97M | $249.82M | $277.18M | $5.67M | $400.0K |
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 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$43.55M | -$42.28M | -$33.34M | -$26.20M | -$15.28M | -$330.0K | -$289.0K |
| Capital expenditures | $121.0K | $49.0K | $100.0K | $67.0K | $104.0K | $0 | $0 |
| Free cash flow | -$43.67M | -$42.33M | -$33.44M | -$26.27M | -$15.39M | -$330.0K | -$289.0K |
| Investing cash flow | $46.17M | $65.14M | -$54.10M | -$84.69M | -$104.0K | $0 | - |
| Financing cash flow | $139.65M | -$304.0K | -$204.0K | $0 | $286.45M | $5.50M | $797.0K |
| Stock-based compensation | $8.50M | $1.17M | $2.29M | $1.67M | $366.0K | $0 | $0 |
| Depreciation and amortization | $335.0K | $315.0K | $315.0K | $47.0K | $19.0K | $0 | $0 |
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 |
|---|---|---|---|---|---|---|---|
| Return on equity | -17.3% | -21.8% | -16.3% | -9.0% | -3.3% | -7.9% | -77.5% |
| Return on assets | -16.7% | -20.7% | -15.7% | -8.8% | -3.3% | -7.5% | - |
| Current ratio | 34.13 | 17.23 | 24.49 | 37.07 | 101.80 | 24.03 | - |
| Debt to equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | - | - |
Source: XBRL data GH Research PLC files with the SEC, latest filing dated Mar 5, 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.
GHRS peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| GHRS | - | - | -$48.26M | - | $1.34B |
| LLY | $86.46B | +45.5% | $27.58B | 31.9% | $1.35T |
| JNJ | $99.33B | +7.8% | $16.09B | 16.2% | $675.92B |
| ABBV | $66.01B | +10.7% | $10.34B | 15.7% | $519.48B |
| MRK | $67.38B | +4.9% | $2.45B | 3.6% | $364.98B |
| NVS | $54.53B | +8.4% | $13.98B | 25.6% | $311.52B |
| AZN | $58.74B | +8.6% | $10.22B | 17.4% | $289.61B |
| ABT | $48.23B | +10.0% | $4.70B | 9.7% | $191.31B |
| NVO | DKK 309.06B | +6.4% | DKK 102.43B | 33.1% | $180.22B |
GHRS FAQ
6 questionsIs GHRS profitable?
No. GH Research PLC reported a net loss of $48.26M for fiscal 2025 (ended Dec 31, 2025).How much cash and debt does GHRS have?
GH Research PLC reported $246.25M in cash and cash equivalents and $0 of debt on its most recent balance sheet in SEC filings.What is GHRS free cash flow?
GH Research PLC generated -$43.67M of free cash flow for fiscal 2025 (ended Dec 31, 2025), which is operating cash flow of -$43.55M less capital expenditures.What is GHRS earnings per share?
Diluted earnings per share were -$0.79 for fiscal 2025 (ended Dec 31, 2025), from SEC filings, restated for any stock split those filings show.When did GHRS last report financial results?
The latest statements here come from GH Research PLC's 20-F filed on Mar 5, 2026, covering the period ended Dec 31, 2025.Where does this GHRS financial data come from?
Quantisnow builds these statements from the structured XBRL data GH Research PLC files with the SEC. It is provided for information only and is not investment advice.