Calidi Biotherapeutics, Inc.
CLDI NYSE Biological Products, (No Diagnostic Substances) Financials FY2022โFY2025
Last close ยท Oct 23, 2026
$0.64
0.8%
Revenue
Total sales reported in the income statement.
โ
vs prior year
Operating margin
Operating income as a share of revenue.
โ
Net income
Profit after all expenses, interest and tax.
โ$19.9M
Free cash flow
Cash from operations minus capital spending.
โ
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
โ
Market cap
Last close times the latest diluted share count, so it is approximate.
$0.9M
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
0.0x
On $24.64 EPS (TTM)
What Calidi Biotherapeutics, Inc. does
No business description yet.
- Legal name
- Calidi Biotherapeutics, Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K ยท Mar 27, 2026
- Accession ยท CIK
- 0001493152-26-013242
0001855485
Revenue and margins
Calidi Biotherapeutics, Inc. had โ of revenue in fiscal 2025.
FY22
Revenue $0.0M
FY23
Revenue โ
FY24
Revenue โ
FY25
Revenue โ
FY22
Gross โ
Operating โ51,395.6%
Net โ56,504.4%
FCF โ
FY23
Gross โ
Operating โ
Net โ
FCF โ
FY24
Gross โ
Operating โ
Net โ
FCF โ
FY25
Gross โ
Operating โ
Net โ
FCF โ
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY22
Net income โ$25.4M
FY23
Net income โ$29.2M
FY24
Net income โ$22.1M
FY25
Net income โ$19.9M
Q3 '23
Net income โ$2.0M
Q4 '23
Net income โ$8.2M
Q1 '24
Net income โ$7.2M
Q2 '24
Net income โ$5.8M
Q3 '24
Net income โ$5.1M
Q4 '24
Net income โ$4.1M
Q1 '25
Net income โ$5.0M
Q2 '25
Net income โ$5.7M
Q3 '25
Net income โ$5.1M
Q4 '25
Net income โ$4.1M
Q1 '26
Net income โ$4.1M
Q2 '26
Net income โ$4.2M
FY22
Diluted EPS $2.99
FY23
Diluted EPS โ$17.33
FY24
Diluted EPS โ$35.70
FY25
Diluted EPS โ$5.95
Q3 '23
Diluted EPS โ$1.41
Q4 '23
Diluted EPS โ$0.93
Q1 '24
Diluted EPS โ$2.03
Q2 '24
Diluted EPS โ$16.75
Q3 '24
Diluted EPS โ$7.75
Q4 '24
Diluted EPS โ$9.17
Q1 '25
Diluted EPS โ$2.21
Q2 '25
Diluted EPS โ$31.75
Q3 '25
Diluted EPS โ$2.21
Q4 '25
Diluted EPS $30.22
Q1 '26
Diluted EPS โ$0.43
Q2 '26
Diluted EPS โ$2.94
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY22
Return on capital โ
Return on equity โ
Return on assets โ979.1%
FY23
Return on capital โ
Return on equity โ
Return on assets โ463.2%
FY24
Return on capital โ
Return on equity โ
Return on assets โ183.0%
FY25
Return on capital โ
Return on equity โ752.2%
Return on assets โ172.8%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was โ in fiscal 2025, โ of revenue. Cash from operations minus capital spending.
FY22
Free cash flow โ
FY23
Free cash flow โ
FY24
Free cash flow โ
FY25
Free cash flow โ
FY22
Cash from operations โ$13.2M
Capital spending โ
FY23
Cash from operations โ$27.0M
Capital spending โ
FY24
Cash from operations โ$19.7M
Capital spending โ
FY25
Cash from operations โ$21.3M
Capital spending โ
Cash from operations
Capital spending
Q3 '23
Cash from operations โ$13.5M
Capital spending โ
Q4 '23
Cash from operations โ$5.2M
Capital spending โ
Q1 '24
Cash from operations โ$3.8M
Capital spending โ
Q2 '24
Cash from operations โ$5.5M
Capital spending โ
Q3 '24
Cash from operations โ$4.9M
Capital spending โ
Q4 '24
Cash from operations โ$5.4M
Capital spending โ
Q1 '25
Cash from operations โ$7.1M
Capital spending โ
Q2 '25
Cash from operations โ$4.9M
Capital spending โ
Q3 '25
Cash from operations โ$4.2M
Capital spending โ
Q4 '25
Cash from operations โ$5.0M
Capital spending โ
Q1 '26
Cash from operations โ$4.1M
Capital spending โ
Q2 '26
Cash from operations โ$4.4M
Capital spending โ
Cash from operations
Capital spending
Dividends, buybacks and share count
Calidi Biotherapeutics, Inc. returned โ to shareholders in fiscal 2025. The diluted share count rose 514.3%.
FY22
Dividends โ
Buybacks โ
FY23
Dividends โ
Buybacks โ
FY24
Dividends โ
Buybacks โ
FY25
Dividends โ
Buybacks โ
Dividends
Buybacks
FY22
Diluted shares 0.01B
FY23
Diluted shares 0.00B
FY24
Diluted shares 0.00B
FY25
Diluted shares 0.00B
Balance sheet
Cash, debt and the ratios that show how comfortably Calidi Biotherapeutics, Inc. can carry it.
FY22
Cash $0.6M
Debt $5.6M
FY23
Cash $2.2M
Debt $2.4M
FY24
Cash $9.6M
Debt $0.8M
FY25
Cash $5.8M
Debt $0.9M
Cash
Debt
| Fiscal year end | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Cash and short-term investments | $0.6M | $2.2M | $9.6M | $5.8M |
| Debt incl. finance leases | $5.6M | $2.4M | $0.8M | $0.9M |
| Debt / equity | โ | โ | 0.4x | 0.2x |
| Interest coverage | โ115.6x | โ26.4x | โ31.1x | โ202.4x |
| Current ratio | 0.0x | 0.4x | 1.1x | 1.6x |
| Quick ratio | 0.0x | 0.4x | 1.1x | 1.6x |
| Total assets | $2.6M | $10.0M | $14.2M | $8.9M |
| Total liabilities | $43.4M | $18.3M | $12.2M | $5.1M |
| Shareholders' equity | โ$50.4M | โ$8.2M | $1.5M | $3.8M |
| Net debt (โ = net cash) | $5.0M | $0.2M | โ$8.8M | โ$4.9M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. โPlanโ marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
โ
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8โ9 is strong, 0โ2 weak.
| Test | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Net income is positive | โ | โ | โ | โ |
| Cash from operations is positive | โ | โ | โ | โ |
| Return on assets rose | โ | โ | โ | โ |
| Cash from operations exceeds net income | โ | โ | โ | โ |
| Debt fell relative to assets | โ | โ | โ | โ |
| Current ratio rose | โ | โ | โ | โ |
| Share count didn't rise | โ | โ | โ | โ |
| Gross margin rose | โ | โ | โ | โ |
| Revenue rose relative to assets | โ | โ | โ | โ |
| F-score | โ / 3 | 5 / 7 | 5 / 7 | 1 / 7 |
| Accruals ratio | โ470.3% | โ35.4% | โ20.2% | 12.0% |
| Altman Z'' | โ255.99 | โ56.20 | โ37.83 | โ64.99 |
4 years of figures
Amounts in USD. Hover a ratioโs name for its definition.
| Fiscal year | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Income statement | ||||
| Revenue | $0.0M | โ | โ | โ |
| Research and development | $7.3M | $13.0M | $8.9M | $9.7M |
| Operating income | โ$23.1M | โ$29.0M | โ$21.8M | โ$20.2M |
| Interest expense | $0.2M | $1.1M | $0.7M | $0.1M |
| Pretax income | โ$25.4M | โ$29.2M | โ$22.2M | โ$20.0M |
| Income tax | $0.0M | $0.0M | $0.0M | $0.0M |
| Net income | โ$25.4M | โ$29.2M | โ$22.1M | โ$19.9M |
| Net income to common | $1.1M | โ$29.2M | โ$23.8M | โ$25.6M |
| Diluted EPS | $2.99 | โ$17.33 | โ$35.70 | โ$5.95 |
| Diluted shares | 0.01B | 0.00B | 0.00B | 0.00B |
| Cash flow | ||||
| Cash from operations | โ$13.2M | โ$27.0M | โ$19.7M | โ$21.3M |
| Depreciation and amortization | $0.3M | $0.4M | $1.5M | $1.7M |
| Stock-based compensation | $4.5M | $4.8M | $3.0M | $2.1M |
| Balance sheet | ||||
| Cash and short-term investments | $0.6M | $2.2M | $9.6M | $5.8M |
| Total debt | $5.4M | $2.1M | $0.6M | $0.6M |
| Finance lease liabilities | $0.2M | $0.3M | $0.2M | $0.3M |
| Current assets | $0.8M | $4.3M | $10.2M | $6.3M |
| Current liabilities | $43.0M | $10.2M | $9.5M | $3.9M |
| Property and equipment, net | $1.3M | $1.3M | $0.9M | $0.8M |
| Total assets | $2.6M | $10.0M | $14.2M | $8.9M |
| Total liabilities | $43.4M | $18.3M | $12.2M | $5.1M |
| Preferred stock | $0.0M | โ | โ | โ |
| Shareholders' equity | โ$50.4M | โ$8.2M | $1.5M | $3.8M |
| Margins | ||||
| Operating margin | โ51,395.6% | โ | โ | โ |
| EBITDA margin | โ50,817.8% | โ | โ | โ |
| Net margin | โ56,504.4% | โ | โ | โ |
| Returns | ||||
| Return on capital employed | 57.3% | 13,611.3% | โ464.7% | โ411.2% |
| Return on equity | โ | โ | โ | โ752.2% |
| Return on assets | โ979.1% | โ463.2% | โ183.0% | โ172.8% |
| Return on tangible equity | โ | โ | โ1,552.4% | โ680.5% |
| Growth | ||||
| EPS growth | โ | โ679.6% | โ | โ |
| Share count change | โ | โ80.2% | โ100.0% | 514.3% |
| Financial health | ||||
| Debt / equity | โ | โ | 0.4x | 0.2x |
| Interest coverage | โ115.6x | โ26.4x | โ31.1x | โ202.4x |
| Current ratio | 0.0x | 0.4x | 1.1x | 1.6x |
| Quick ratio | 0.0x | 0.4x | 1.1x | 1.6x |
| Capital allocation | ||||
| Stock comp / revenue | 10,048.9% | โ | โ | โ |
| Quality scores | ||||
| Piotroski F-score | โ | 5.0 | 5.0 | 1.0 |
| Altman Z'' | โ256.0 | โ56.2 | โ37.8 | โ65.0 |
| Accruals ratio | โ470.3% | โ35.4% | โ20.2% | 12.0% |
Source: SEC EDGAR XBRL filings (CIK 0001855485). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only โ not investment advice. Check the original filings before relying on any figure.