MLTX net incomeQ3 2026-$79.55M
MLTX net income was -$79.55M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$69.73M a year earlier. For the full fiscal 2025 it was -$227.32M, compared with -$118.94M in fiscal 2024.
MoonLake Immunotherapeutics (MLTX) financials
For the twelve months ended Sep 30, 2026, MoonLake Immunotherapeutics reported -$273.48M of net income.
- Net income, TTM
- -$273.48M
- Free cash flow, TTM
- -$244.04M
- EPS, diluted, TTM
- -$3.68
- Cash
- $379.70M
- Total debt
- $100.01M
- Market cap
- $1.07B
FY2021FY2025
FY2022FY2025
MLTX revenue and earnings growth
MLTX EPSQ3 2026-$0.93
MLTX diluted EPS was -$0.93 in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$1.10 a year earlier. For the full fiscal 2025 it was -$3.53, compared with -$1.89 in fiscal 2024.
MLTX free cash flowQ3 2026-$63.40M
MLTX free cash flow was -$63.40M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$44.54M a year earlier. For the full fiscal 2025 it was -$196.04M, compared with -$117.11M in fiscal 2024.
Income statement
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
|---|---|---|---|---|---|
| Research and development | $202.86M | $112.77M | $31.80M | $42.05M | - |
| Selling, general and admin | $41.97M | $30.32M | $22.32M | $23.01M | $4.57M |
| Operating income | -$244.83M | -$143.09M | -$54.12M | -$65.06M | -$4.57M |
| Interest expense | $7.25M | $0 | $0 | - | - |
| Pre-tax income | -$229.71M | -$120.96M | -$43.98M | -$64.47M | - |
| Income tax | $611.0K | $282.0K | $94.0K | $36.4K | - |
| Net income | -$227.32M | -$118.94M | -$36.01M | -$49.97M | -$4.54M |
| EPS, basic | -$3.53 | -$1.89 | -$0.73 | -$1.70 | -$0.31 |
| EPS, diluted | -$3.53 | -$1.89 | -$0.73 | -$1.70 | -$0.31 |
| Diluted shares | 64.5M | 62.9M | 49.1M | 29.4M | 360.0M |
Balance sheet
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
|---|---|---|---|---|---|
| Cash and equivalents | $334.52M | $180.43M | $451.17M | $39.51M | $8.04M |
| Current assets | $421.69M | $474.29M | $514.17M | $76.51M | $9.64M |
| Total assets | $424.43M | $477.93M | $526.54M | $76.84M | $9.68M |
| Current liabilities | $45.48M | $22.46M | $9.97M | $7.67M | $21.09M |
| Short-term debt | - | - | - | $0 | $15.00M |
| Total debt | $74.10M | $0 | - | - | - |
| Total liabilities | $119.95M | $24.54M | $13.05M | $8.08M | $21.33M |
| Shareholders' equity | $304.48M | $453.39M | $513.49M | $68.77M | -$11.65M |
Cash flow
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
|---|---|---|---|---|---|
| Operating cash flow | -$196.01M | -$116.59M | -$42.78M | -$55.89M | -$611.1K |
| Capital expenditures | $35.0K | $520.0K | $284.0K | $16.0K | - |
| Free cash flow | -$196.04M | -$117.11M | -$43.06M | -$55.91M | - |
| Investing cash flow | $202.99M | -$205.60M | -$25.18M | -$32.34M | - |
| Financing cash flow | $146.00M | $51.31M | $479.70M | $119.69M | -$58.1K |
| Share repurchases | - | $50 | $0 | $0 | - |
| Stock-based compensation | $12.90M | $7.28M | $7.11M | $9.65M | - |
| Depreciation and amortization | $2.62M | $1.39M | $370.0K | $164.8K | - |
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 | $68.87M | $50.22M | $54.52M | $56.01M | $60.63M | $49.76M | $36.46M | $40.36M | $35.74M | $23.66M | $13.01M | $8.10M |
| Selling, general and admin | $10.98M | $11.44M | $15.51M | $9.21M | $10.80M | $10.94M | $11.03M | $9.22M | $7.38M | $6.92M | $6.81M | $6.93M |
| Operating income | -$79.85M | -$61.66M | -$70.02M | -$65.22M | -$71.43M | -$60.70M | -$47.48M | -$49.58M | -$43.11M | -$30.58M | -$19.82M | -$15.03M |
| Interest expense | $2.65M | $2.63M | $2.27M | $1.99M | $3.20M | $2.04M | $18.0K | $0 | $0 | $0 | $0 | - |
| Income tax | $631.0K | $90.0K | $622.0K | $248.0K | $115.0K | $95.0K | $153.0K | $41.0K | $92.0K | $79.0K | $70.0K | $43.9K |
| Net income | -$79.55M | -$61.80M | -$69.71M | -$62.43M | -$69.73M | -$56.05M | -$40.56M | -$45.60M | -$35.39M | -$24.76M | -$13.97M | -$7.44M |
| EPS, basic | -$0.93 | -$0.84 | -$0.98 | -$0.93 | -$1.10 | -$0.87 | -$0.63 | -$0.72 | -$0.56 | -$0.39 | -$0.22 | - |
| EPS, diluted | -$0.93 | -$0.84 | -$0.98 | -$0.93 | -$1.10 | -$0.87 | -$0.63 | -$0.72 | -$0.56 | -$0.39 | -$0.22 | - |
| Diluted shares | 85.4M | 73.9M | 71.3M | - | 63.4M | 63.3M | 63.2M | - | 62.9M | 62.9M | 62.6M | - |
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 | $379.70M | $477.90M | $298.49M | $334.52M | $350.74M | $306.68M | $271.57M | $180.43M | $375.65M | $342.79M | $458.44M | $451.17M |
| Current assets | $533.34M | $570.04M | $396.64M | $421.69M | $411.21M | $455.48M | $506.26M | $474.29M | $512.32M | $536.88M | $553.59M | $514.17M |
| Total assets | $540.72M | $573.95M | $400.37M | $424.43M | $414.33M | $460.10M | $511.26M | $477.93M | $518.21M | $544.88M | $564.12M | $526.54M |
| Current liabilities | $58.43M | $45.39M | $46.11M | $45.48M | $48.37M | $27.36M | $23.98M | $22.46M | $20.08M | $12.28M | $8.91M | $9.97M |
| Total debt | $100.01M | $99.51M | $99.02M | $74.10M | $73.74M | $73.38M | $73.02M | $0 | - | - | - | - |
| Total liabilities | $159.09M | $145.75M | $146.35M | $119.95M | $123.14M | $102.15M | $98.68M | $24.54M | $22.71M | $14.85M | $11.73M | $13.05M |
| Shareholders' equity | $381.63M | $428.19M | $254.02M | $304.48M | $291.19M | $357.94M | $412.58M | $453.39M | $495.50M | $530.03M | $552.39M | $513.49M |
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 | -$63.40M | -$55.56M | -$66.29M | -$58.79M | -$44.54M | -$54.53M | -$38.14M | -$48.47M | -$25.28M | -$27.89M | -$14.95M | -$12.34M |
| Capital expenditures | $0 | $0 | $0 | $0 | $0 | $0 | $35.0K | $176.0K | $132.0K | $0 | $212.0K | $284.0K |
| Free cash flow | -$63.40M | -$55.56M | -$66.29M | -$58.79M | -$44.54M | -$54.53M | -$38.17M | -$48.65M | -$25.41M | -$27.89M | -$15.16M | -$12.63M |
| Investing cash flow | -$58.76M | $322.0K | $98.0K | -$29.91M | $88.40M | $88.25M | $56.25M | -$147.33M | $58.28M | -$87.74M | -$28.80M | $116.87M |
| Financing cash flow | $26.97M | $234.62M | $30.64M | $72.39M | $480.0K | $0 | $73.12M | $151.0K | $183.0K | $0 | $50.98M | $28.42M |
| Share repurchases | - | - | - | - | - | - | - | $0 | $0 | $0 | $50 | $0 |
| Stock-based compensation | $2.85M | $2.55M | $13.36M | $3.59M | $3.71M | $3.31M | $2.29M | $1.93M | $1.84M | $1.83M | $1.68M | $1.61M |
| Depreciation and amortization | $905.0K | $896.0K | $845.0K | $751.0K | $745.0K | $742.0K | $378.0K | $364.0K | $351.0K | $342.0K | $328.0K | - |
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 | 9.13 | 12.56 | 8.60 | 9.27 | 8.50 | 16.65 | 21.11 | 21.11 | 25.51 | 43.71 | 62.13 | 51.59 |
| Debt to equity | 0.26 | 0.23 | 0.39 | 0.24 | 0.25 | 0.21 | 0.18 | 0.00 | - | - | - | - |
Source: XBRL data MoonLake Immunotherapeutics files with the SEC, latest filing dated Nov 4, 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.
MLTX peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| MLTX | - | - | -$273.48M | - | $1.07B |
| 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 |
MLTX FAQ
6 questionsIs MLTX profitable?
No. MoonLake Immunotherapeutics reported a net loss of $273.48M for the twelve months ended Sep 30, 2026.How much cash and debt does MLTX have?
MoonLake Immunotherapeutics reported $379.70M in cash and cash equivalents and $100.01M of debt on its most recent balance sheet in SEC filings.What is MLTX free cash flow?
MoonLake Immunotherapeutics generated -$244.04M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of -$244.04M less capital expenditures.What is MLTX earnings per share?
Diluted earnings per share were -$3.68 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.When did MLTX last report financial results?
The latest statements here come from MoonLake Immunotherapeutics's 10-Q filed on Nov 4, 2026, covering the period ended Sep 30, 2026.Where does this MLTX financial data come from?
Quantisnow builds these statements from the structured XBRL data MoonLake Immunotherapeutics files with the SEC. It is provided for information only and is not investment advice.