ORKA net incomeQ2 2026-$41.21M
ORKA net income was -$41.21M in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$24.57M a year earlier. For the full fiscal 2025 it was -$105.43M.
Oruka Therapeutics Inc. (ORKA) financials
For the twelve months ended Jun 30, 2026, Oruka Therapeutics Inc. reported -$132.89M of net income.
- Net income, TTM
- -$132.89M
- Free cash flow, TTM
- -$101.15M
- Cash
- $268.47M
- Market cap
- $6.81B
FY2015FY2023
FY2015FY2025
FY2015FY2025
ORKA revenue and earnings growth
ORKA EPSQ2 2025-$0.46
ORKA diluted EPS was -$0.46 in fiscal Q2 2025 (ended Jun 30, 2025). For the full fiscal 2023 it was -$0.37, compared with -$0.69 in fiscal 2022.
ORKA free cash flowQ2 2026-$33.15M
ORKA free cash flow was -$33.15M in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$23.18M a year earlier. For the full fiscal 2025 it was -$88.42M.
Income statement
| Line item | Dec 31, 2025 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Research and development | $100.64M | $1.01M | $4.75M | $13.83M | $4.99M | $1.83M | $4.24M | $14.08M | $12.35M | $7.06M |
| Selling, general and admin | $21.41M | $6.28M | $5.85M | $5.50M | $4.77M | $3.98M | $3.88M | $4.64M | $4.26M | $4.39M |
| Operating income | -$122.05M | -$7.30M | -$10.60M | -$19.34M | -$9.77M | -$5.81M | -$8.12M | -$18.71M | -$16.61M | -$11.46M |
| Interest expense | - | - | - | - | $9.0K | $7.0K | $8.0K | $6.0K | - | $4.0K |
| Pre-tax income | -$105.43M | - | - | -$19.32M | -$9.75M | -$5.65M | -$7.96M | -$18.55M | -$16.44M | - |
| Income tax | - | $0 | $0 | $0 | -$9.0K | -$167.0K | -$31.0K | -$61.0K | $0 | $0 |
| Net income | -$105.43M | -$5.34M | -$9.93M | -$19.32M | -$9.74M | -$5.48M | -$7.93M | -$18.49M | -$16.44M | -$11.45M |
| EPS, basic | - | -$0.37 | -$0.69 | -$1.39 | -$2.07 | -$4.15 | -$10.31 | -$31.86 | -$32.58 | -$32.76 |
| EPS, diluted | - | -$0.37 | -$0.69 | -$1.39 | -$2.07 | -$4.15 | -$10.31 | -$31.86 | -$32.58 | -$32.76 |
| Diluted shares | - | 14.4M | 14.4M | 13.9M | 4.7M | 1.3M | 769,392 | 579,521.722 | 503,746.556 | 349,405.833 |
Balance sheet
| Line item | Dec 31, 2025 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $46.94M | $37.43M | $42.45M | $53.36M | $49.07M | $8.36M | $6.61M | $8.70M | $7.40M | $38.80M |
| Short-term investments | $290.11M | - | - | - | - | - | - | - | - | - |
| Current assets | $343.86M | $37.59M | $42.70M | $54.42M | $49.97M | $8.48M | $6.78M | $12.30M | $21.45M | $38.92M |
| Total assets | $488.62M | $37.86M | $43.09M | $54.92M | $50.43M | $8.54M | $6.83M | $12.37M | $24.63M | $39.57M |
| Current liabilities | $15.37M | $637.0K | $1.13M | $3.50M | $3.50M | $926.0K | $793.0K | $2.07M | $2.40M | $1.50M |
| Total debt | - | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total liabilities | $16.69M | $841.0K | $1.41M | $3.88M | $3.91M | $926.0K | $793.0K | $2.09M | $2.44M | $1.50M |
| Shareholders' equity | $471.93M | $37.02M | $41.67M | $51.04M | $46.52M | $7.61M | $6.03M | $10.28M | $22.19M | $38.07M |
Cash flow
| Line item | Dec 31, 2025 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$88.21M | -$5.01M | -$10.91M | -$18.76M | -$7.72M | -$4.80M | -$8.24M | -$17.47M | -$14.99M | -$10.53M |
| Capital expenditures | $209.0K | $0 | $2.0K | $43.0K | $19.0K | $4.0K | $4.0K | $3.0K | $12.0K | $11.0K |
| Free cash flow | -$88.42M | -$5.01M | -$10.91M | -$18.80M | -$7.74M | -$4.80M | -$8.25M | -$17.48M | -$15.00M | -$10.54M |
| Investing cash flow | -$96.75M | $0 | -$2.0K | -$43.0K | -$19.0K | -$4.0K | $3.05M | $12.93M | -$16.41M | -$11.0K |
| Financing cash flow | $170.31M | $0 | $0 | $23.09M | $48.45M | $6.56M | $3.10M | $5.85M | - | $33.99M |
| Stock-based compensation | $24.24M | $686.0K | $556.0K | $497.0K | $43.0K | $151.0K | $273.0K | $458.0K | $576.0K | $599.0K |
| Depreciation and amortization | - | $15.0K | $20.0K | $16.0K | $8.0K | $18.0K | $22.0K | $27.0K | $24.0K | $19.0K |
Key ratios
| Line item | Dec 31, 2025 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on equity | -22.3% | -14.4% | -23.8% | -37.9% | -20.9% | -72.0% | -131.5% | -180.0% | -74.1% | -30.1% |
| Return on assets | -21.6% | -14.1% | -23.0% | -35.2% | -19.3% | -64.2% | -116.2% | -149.5% | -66.8% | -28.9% |
| Current ratio | 22.37 | 59.01 | 37.72 | 15.56 | 14.28 | 9.16 | 8.55 | 5.94 | 8.95 | 25.88 |
| Debt to equity | - | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Income statement
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | $0 | $0 | $0 | $0 | $0 |
| Research and development | $43.26M | $29.14M | $27.64M | $28.99M | $24.09M | $19.93M | $25.69M | $18.67M | $165.0K | $47.0K | $322.0K | $254.0K |
| Selling, general and admin | $6.85M | $7.29M | $6.79M | $5.12M | $4.34M | $5.16M | $3.76M | $2.82M | $2.32M | $1.54M | $1.61M | $1.72M |
| Operating income | -$50.11M | -$36.43M | -$34.43M | -$34.10M | -$28.43M | -$25.09M | -$29.45M | -$21.49M | -$2.48M | -$1.59M | -$1.94M | -$1.97M |
| Interest expense | - | - | - | - | - | - | $504.0K | $750.0K | - | - | - | - |
| Net income | -$41.21M | -$31.82M | -$29.58M | -$30.28M | -$24.57M | -$21.00M | -$28.62M | -$22.24M | -$2.01M | -$1.09M | -$1.42M | -$1.48M |
| EPS, basic | - | - | - | - | -$0.46 | -$0.40 | -$1.46 | -$6.96 | -$0.14 | -$0.08 | -$0.10 | -$0.10 |
| EPS, diluted | - | - | - | - | -$0.46 | -$0.40 | -$1.46 | -$6.96 | -$0.14 | -$0.08 | -$0.10 | -$0.10 |
| Diluted shares | - | - | - | - | 42.1M | 41.7M | 15.0M | 3.2M | 14.5M | - | 14.4M | 14.4M |
Balance sheet
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $268.47M | $49.52M | $46.94M | $91.25M | $65.40M | $83.57M | $410.88M | $15.12M | $27.74M | $37.43M | $38.49M | $40.16M |
| Short-term investments | $605.09M | $339.31M | $290.11M | $257.90M | $263.01M | $265.52M | - | - | - | - | - | - |
| Current assets | $884.56M | $395.25M | $343.86M | $355.16M | $332.01M | $352.08M | $412.95M | $33.82M | $36.67M | $37.59M | $38.89M | $40.76M |
| Total assets | $1.14B | $504.48M | $488.62M | $509.25M | $357.42M | $377.11M | $414.09M | $33.84M | $36.71M | $37.86M | $39.18M | $41.08M |
| Current liabilities | $22.97M | $16.63M | $15.37M | $20.97M | $12.11M | $11.72M | $18.04M | $1.27M | $1.58M | $637.0K | $992.0K | $1.60M |
| Total debt | - | - | - | - | - | - | - | - | - | $0 | - | - |
| Total liabilities | $24.84M | $17.76M | $16.69M | $22.46M | $13.78M | $12.39M | $18.88M | $1.27M | $1.58M | $841.0K | $1.22M | $1.84M |
| Shareholders' equity | $1.11B | $486.72M | $471.93M | $486.79M | $343.64M | $364.73M | $342.37M | -$28.98M | -$7.06M | $37.02M | $37.97M | $39.24M |
Cash flow
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$33.15M | -$23.58M | -$22.59M | -$21.60M | -$23.14M | -$20.87M | - | -$2.63M | -$1.53M | -$1.06M | -$1.67M | -$694.0K |
| Capital expenditures | $0 | $73.0K | $63.0K | $99.0K | $34.0K | $13.0K | - | - | - | - | - | - |
| Free cash flow | -$33.15M | -$23.65M | -$22.66M | -$21.70M | -$23.18M | -$20.88M | - | - | - | - | - | - |
| Investing cash flow | -$410.95M | -$14.44M | -$22.02M | -$122.45M | $4.86M | $42.87M | - | $0 | $0 | - | - | $0 |
| Financing cash flow | $663.04M | $40.60M | $298.0K | $169.91M | - | - | - | $14.0K | $0 | - | - | $0 |
| Stock-based compensation | $7.28M | $6.97M | $4.12M | $10.16M | $5.08M | $4.88M | $9.00M | $112.0K | $114.0K | $141.0K | $154.0K | $187.0K |
| Depreciation and amortization | - | - | - | - | - | - | - | $3.0K | $3.0K | $3.0K | $4.0K | $4.0K |
Key ratios
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 38.51 | 23.76 | 22.37 | 16.94 | 27.42 | 30.03 | 22.89 | 26.61 | 23.19 | 59.01 | 39.21 | 25.44 |
| Debt to equity | - | - | - | - | - | - | - | - | - | 0.00 | - | - |
Source: XBRL data Oruka Therapeutics Inc. files with the SEC, latest filing dated Aug 10, 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 and share counts are restated for stock splits the filings show: 1-for-7, first reported Nov 12, 2015; 1-for-18, first reported May 8, 2019.
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.
ORKA peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| ORKA | - | - | -$132.89M | - | $6.81B |
| IDXX | $4.66B | +11.9% | $1.18B | 25.4% | $53.26B |
| LNTH | $1.56B | +2.4% | $269.90M | 17.3% | $6.57B |
| NEOG | $883.99M | -0.3% | -$56.10M | -6.3% | $2.57B |
| CLDX | $158.0K | -93.9% | -$309.06M | -195608.9% | $2.35B |
| NTLA | $52.89M | -8.1% | -$426.14M | -805.7% | $1.59B |
| QDEL | $2.59B | -4.5% | -$369.20M | -14.2% | $733.5M |
| ACHV | - | - | -$114.04M | - | $691.0M |
| MYGN | $803.60M | -2.6% | -$129.10M | -16.1% | $565.8M |
ORKA FAQ
5 questionsIs ORKA profitable?
No. Oruka Therapeutics Inc. reported a net loss of $132.89M for the twelve months ended Jun 30, 2026.How much cash and debt does ORKA have?
Oruka Therapeutics Inc. reported $268.47M in cash and cash equivalents on its most recent balance sheet in SEC filings.What is ORKA free cash flow?
Oruka Therapeutics Inc. generated -$101.15M of free cash flow for the twelve months ended Jun 30, 2026, which is operating cash flow of -$100.92M less capital expenditures.When did ORKA last report financial results?
The latest statements here come from Oruka Therapeutics Inc.'s 10-Q filed on Aug 10, 2026, covering the period ended Jun 30, 2026.Where does this ORKA financial data come from?
Quantisnow builds these statements from the structured XBRL data Oruka Therapeutics Inc. files with the SEC. It is provided for information only and is not investment advice.