IRON net incomeQ3 2026-$59.53M
IRON net income was -$59.53M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$62.32M a year earlier. For the full fiscal 2025 it was -$212.18M, compared with -$109.36M in fiscal 2024.
Disc Medicine Inc. (IRON) financials
For the twelve months ended Sep 30, 2026, Disc Medicine Inc. reported -$243.10M of net income.
- Net income, TTM
- -$243.10M
- Free cash flow, TTM
- -$189.96M
- EPS, diluted, TTM
- -$6.36
- Cash
- $89.98M
- Total debt
- $59.74M
- Market cap
- $3.70B
FY2020FY2025
FY2020FY2025
IRON revenue and earnings growth
IRON EPSQ3 2026-$1.53
IRON diluted EPS was -$1.53 in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$1.77 a year earlier. For the full fiscal 2025 it was -$6.01, compared with -$3.96 in fiscal 2024.
IRON free cash flowQ3 2026-$40.20M
IRON free cash flow was -$40.20M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$47.83M a year earlier. For the full fiscal 2025 it was -$181.33M, compared with -$94.43M 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 | $170.64M | $96.67M | $69.26M | $33.44M | $25.17M | $28.17M |
| Selling, general and admin | $65.38M | $33.05M | $21.86M | $14.04M | $5.76M | $5.87M |
| Operating income | -$236.02M | -$129.72M | -$91.13M | -$47.48M | -$30.93M | -$34.04M |
| Interest expense | $3.61M | $572.0K | $0 | - | $2.16M | $6.83M |
| Pre-tax income | -$211.82M | -$109.00M | -$76.33M | -$46.83M | - | - |
| Income tax | $361.0K | $355.0K | $99.0K | $0 | - | - |
| Net income | -$212.18M | -$109.36M | -$76.43M | -$46.83M | -$35.97M | -$40.84M |
| EPS, basic | -$6.01 | -$3.96 | -$3.42 | -$45.05 | -$40.95 | -$2.70 |
| EPS, diluted | -$6.01 | -$3.96 | -$3.42 | -$45.05 | -$40.95 | -$2.70 |
| Diluted shares | 35.3M | 27.6M | 22.3M | 1.0M | 878,407 | 15.1M |
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 | $91.14M | $192.67M | $360.62M | $194.79M | $88.21M | $25.89M |
| Short-term investments | $700.01M | $297.45M | $0 | - | - | - |
| Current assets | $803.90M | $493.62M | $365.66M | $198.49M | $90.48M | $5.07M |
| Total assets | $806.88M | $496.77M | $368.00M | $200.21M | $92.41M | $8.32M |
| Current liabilities | $36.64M | $23.32M | $21.44M | $22.58M | $13.42M | $24.88M |
| Short-term debt | - | - | - | - | - | $0 |
| Total debt | $29.16M | $28.32M | $0 | - | - | $14.00M |
| Total liabilities | $67.05M | $53.19M | $22.88M | $23.61M | $14.76M | $30.18M |
| Shareholders' equity | $739.83M | $443.59M | $345.12M | $176.60M | -$64.20M | -$28.81M |
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 | -$180.39M | -$93.93M | -$73.46M | -$42.25M | -$27.53M | -$32.71M |
| Capital expenditures | $933.0K | $505.0K | $89.0K | $151.0K | $68.0K | $22.0K |
| Free cash flow | -$181.33M | -$94.43M | -$73.55M | -$42.40M | -$27.60M | -$32.73M |
| Investing cash flow | -$394.30M | -$292.33M | -$89.0K | -$151.0K | -$68.0K | -$22.0K |
| Financing cash flow | $473.41M | $218.31M | $239.38M | $148.98M | $89.93M | $34.25M |
| Stock-based compensation | $34.34M | $16.82M | $5.53M | $2.09M | $507.0K | $983.0K |
| Depreciation and amortization | $281.0K | $156.0K | $100.0K | $89.0K | $32.0K | - |
Key ratios
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Research and development | $44.08M | $46.93M | $45.90M | $46.22M | $50.33M | $46.32M | $27.76M | $24.80M | $24.68M | $23.48M | $23.70M | $22.57M |
| Selling, general and admin | $20.08M | $18.14M | $23.62M | $20.75M | $17.36M | $15.09M | $12.18M | $9.75M | $8.17M | $7.37M | $7.76M | $7.15M |
| Operating income | -$64.16M | -$65.08M | -$69.52M | -$66.97M | -$67.70M | -$61.41M | -$39.95M | -$34.55M | -$32.86M | -$30.85M | -$31.46M | -$29.71M |
| Interest expense | $1.71M | $908.0K | $844.0K | $883.0K | $917.0K | $910.0K | $897.0K | $572.0K | $0 | $0 | $0 | - |
| Pre-tax income | -$59.43M | -$59.46M | -$63.45M | -$60.44M | -$62.22M | -$55.20M | -$33.97M | -$29.28M | -$26.48M | -$26.29M | -$26.94M | -$23.55M |
| Income tax | $109.0K | $69.0K | $51.0K | $88.0K | $102.0K | $52.0K | $119.0K | $176.0K | $114.0K | $60.0K | $5.0K | $32.0K |
| Net income | -$59.53M | -$59.53M | -$63.50M | -$60.53M | -$62.32M | -$55.25M | -$34.09M | -$29.46M | -$26.60M | -$26.35M | -$26.95M | -$23.58M |
| EPS, basic | -$1.53 | -$1.54 | -$1.65 | -$1.64 | -$1.77 | -$1.58 | -$1.02 | -$0.95 | -$0.89 | -$1.03 | -$1.09 | - |
| EPS, diluted | -$1.53 | -$1.54 | -$1.65 | -$1.64 | -$1.77 | -$1.58 | -$1.02 | -$0.95 | -$0.89 | -$1.03 | -$1.09 | - |
| Diluted shares | 38.9M | 38.7M | 38.5M | - | 35.2M | 35.0M | 33.3M | - | 29.9M | 25.6M | 24.8M | - |
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 | $89.98M | $98.68M | $88.91M | $91.14M | $140.90M | $127.58M | $122.91M | $192.67M | $192.87M | $280.90M | $342.85M | $360.62M |
| Short-term investments | $592.83M | $619.07M | $641.25M | $700.01M | $475.26M | $522.64M | $571.99M | $297.45M | $294.73M | $220.28M | - | $0 |
| Current assets | $697.40M | $732.76M | $747.46M | $803.90M | $627.17M | $661.59M | $705.60M | $493.62M | $493.15M | $508.24M | $351.95M | $365.66M |
| Total assets | $699.49M | $735.07M | $750.21M | $806.88M | $630.46M | $665.06M | $709.27M | $496.77M | $495.14M | $510.22M | $354.18M | $368.00M |
| Current liabilities | $34.36M | $30.36M | $31.14M | $36.64M | $26.74M | $20.61M | $18.74M | $23.32M | $25.47M | $20.31M | $14.85M | $21.44M |
| Total debt | $59.74M | $59.34M | $29.36M | $29.16M | $28.95M | $28.74M | $28.53M | $28.32M | - | - | - | $0 |
| Total liabilities | $95.24M | $90.91M | $61.78M | $67.05M | $57.06M | $50.90M | $48.90M | $53.19M | $27.18M | $21.39M | $16.11M | $22.88M |
| Shareholders' equity | $604.25M | $644.16M | $688.43M | $739.83M | $573.39M | $614.16M | $660.36M | $443.59M | $467.96M | $488.83M | $338.07M | $345.12M |
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 | -$40.20M | -$44.20M | -$62.24M | -$43.30M | -$47.80M | -$47.92M | -$41.38M | -$27.57M | -$17.36M | -$15.39M | -$33.60M | -$17.80M |
| Capital expenditures | $0 | $0 | $0 | $20.0K | $26.0K | $36.0K | $851.0K | $449.0K | -$8.0K | -$3.0K | $67.0K | $3.0K |
| Free cash flow | -$40.20M | -$44.20M | -$62.24M | -$43.32M | -$47.83M | -$47.95M | -$42.23M | -$28.02M | -$17.37M | -$15.40M | -$33.67M | -$17.80M |
| Investing cash flow | $25.33M | $21.63M | $58.31M | -$222.89M | $49.54M | $51.69M | -$272.63M | -$1.43M | -$71.09M | -$219.75M | -$67.0K | -$3.0K |
| Financing cash flow | $6.18M | $32.34M | $1.70M | $216.68M | $11.59M | $892.0K | $244.25M | $28.80M | $426.0K | $173.19M | $15.90M | $7.76M |
| Stock-based compensation | $14.61M | $13.95M | $11.95M | $10.04M | $9.51M | $8.42M | $6.36M | $4.33M | $4.33M | $4.09M | $4.06M | $1.93M |
| Depreciation and amortization | $90.0K | $90.0K | $89.0K | $89.0K | $87.0K | $85.0K | $20.0K | $9.0K | $11.0K | $110.0K | $26.0K | $25.0K |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 20.30 | 24.14 | 24.00 | 21.94 | 23.45 | 32.11 | 37.65 | 21.17 | 19.36 | 25.02 | 23.70 | 17.06 |
| Debt to equity | 0.10 | 0.09 | 0.04 | 0.04 | 0.05 | 0.05 | 0.04 | 0.06 | - | - | - | 0.00 |
Source: XBRL data Disc Medicine Inc. files with the SEC, latest filing dated Nov 5, 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.
IRON peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| IRON | - | - | -$243.10M | - | $3.70B |
| 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 |
IRON FAQ
6 questionsIs IRON profitable?
No. Disc Medicine Inc. reported a net loss of $243.10M for the twelve months ended Sep 30, 2026.How much cash and debt does IRON have?
Disc Medicine Inc. reported $89.98M in cash and cash equivalents and $59.74M of debt on its most recent balance sheet in SEC filings.What is IRON free cash flow?
Disc Medicine Inc. generated -$189.96M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of -$189.94M less capital expenditures.What is IRON earnings per share?
Diluted earnings per share were -$6.36 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.When did IRON last report financial results?
The latest statements here come from Disc Medicine Inc.'s 10-Q filed on Nov 5, 2026, covering the period ended Sep 30, 2026.Where does this IRON financial data come from?
Quantisnow builds these statements from the structured XBRL data Disc Medicine Inc. files with the SEC. It is provided for information only and is not investment advice.