Orchestra BioMed Holdings, Inc.
OBIO Nasdaq Surgical & Medical Instruments & Apparatus Financials FY2021โFY2025
Last close ยท Oct 23, 2026
$5.59
2.2%
Revenue
Total sales reported in the income statement.
$33.5M
1,169.2%
vs prior year
Operating margin
Operating income as a share of revenue.
โ154.7%
2,282.8ย pts
Net income
Profit after all expenses, interest and tax.
โ$52.7M
Free cash flow
Cash from operations minus capital spending.
โ$49.5M
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.
$357M
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
โ
On โ$0.83 EPS (TTM)
What Orchestra BioMed Holdings, Inc. does
No business description yet.
- Legal name
- Orchestra BioMed Holdings, Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K ยท Mar 12, 2026
- Accession ยท CIK
- 0001104659-26-026754
0001814114
Revenue and margins
Orchestra BioMed Holdings, Inc. had $33.5M of revenue in fiscal 2025, up 1,169.2% on the year before.
FY21
Revenue โ
FY22
Revenue $3.5M
FY23
Revenue $2.8M
FY24
Revenue $2.6M
FY25
Revenue $33.5M
Q3 '23
Revenue $0.4M
Q4 '23
Revenue $0.3M
Q1 '24
Revenue $0.6M
Q2 '24
Revenue $0.8M
Q3 '24
Revenue $1.0M
Q4 '24
Revenue $0.3M
Q1 '25
Revenue $0.9M
Q2 '25
Revenue $0.8M
Q3 '25
Revenue $0.9M
Q4 '25
Revenue $30.9M
Q1 '26
Revenue $0.1M
Q2 '26
Revenue $0.1M
FY21
Gross โ
Operating โ
Net โ
FCF โ
FY22
Gross 94.0%
Operating โ924.3%
Net โ951.3%
FCF โ845.7%
FY23
Gross 93.3%
Operating โ1,866.2%
Net โ1,779.7%
FCF โ1,674.1%
FY24
Gross 92.3%
Operating โ2,437.5%
Net โ2,313.3%
FCF โ1,927.5%
FY25
Gross 99.4%
Operating โ154.7%
Net โ157.4%
FCF โ147.7%
Gross
Operating
Net
FCF
Q3 '23
Gross 90.2%
Operating โ3,466.3%
Net โ3,178.0%
FCF โ2,458.5%
Q4 '23
Gross 82.1%
Operating โ4,763.7%
Net โ4,892.4%
FCF โ4,187.4%
Q1 '24
Gross 94.5%
Operating โ2,326.3%
Net โ2,171.5%
FCF โ2,116.5%
Q2 '24
Gross 94.3%
Operating โ2,167.0%
Net โ2,054.0%
FCF โ1,325.6%
Q3 '24
Gross 93.1%
Operating โ1,655.7%
Net โ1,562.9%
FCF โ1,394.9%
Q4 '24
Gross 77.1%
Operating โ6,591.7%
Net โ6,385.4%
FCF โ5,392.9%
Q1 '25
Gross 94.9%
Operating โ2,179.8%
Net โ2,160.7%
FCF โ1,927.2%
Q2 '25
Gross 94.5%
Operating โ2,311.8%
Net โ2,316.1%
FCF โ1,861.4%
Q3 '25
Gross 94.3%
Operating โ2,359.2%
Net โ2,419.0%
FCF โ1,725.9%
Q4 '25
Gross 99.8%
Operating 21.8%
Net 20.2%
FCF โ7.4%
Q1 '26
Gross 70.9%
Operating โ20,069.1%
Net โ18,810.0%
FCF โ20,320.0%
Q2 '26
Gross 71.6%
Operating โ25,404.5%
Net โ26,994.3%
FCF โ22,256.8%
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY21
Net income โ$0.4M
FY22
Net income โ$33.6M
FY23
Net income โ$49.1M
FY24
Net income โ$61.0M
FY25
Net income โ$52.7M
Q3 '23
Net income โ$13.3M
Q4 '23
Net income โ$12.8M
Q1 '24
Net income โ$13.5M
Q2 '24
Net income โ$16.0M
Q3 '24
Net income โ$15.4M
Q4 '24
Net income โ$16.2M
Q1 '25
Net income โ$18.8M
Q2 '25
Net income โ$19.4M
Q3 '25
Net income โ$20.8M
Q4 '25
Net income $6.2M
Q1 '26
Net income โ$20.7M
Q2 '26
Net income โ$23.8M
FY21
Diluted EPS โ$0.02
FY22
Diluted EPS โ$2.24
FY23
Diluted EPS โ$1.48
FY24
Diluted EPS โ$1.66
FY25
Diluted EPS โ$1.11
Q3 '23
Diluted EPS โ$0.38
Q4 '23
Diluted EPS โ$0.35
Q1 '24
Diluted EPS โ$0.38
Q2 '24
Diluted EPS โ$0.45
Q3 '24
Diluted EPS โ$0.41
Q4 '24
Diluted EPS โ$0.42
Q1 '25
Diluted EPS โ$0.49
Q2 '25
Diluted EPS โ$0.50
Q3 '25
Diluted EPS โ$0.40
Q4 '25
Diluted EPS $0.28
Q1 '26
Diluted EPS โ$0.33
Q2 '26
Diluted EPS โ$0.38
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY21
Return on capital โ
Return on equity โ
Return on assets โ0.2%
FY22
Return on capital โ
Return on equity โ205.2%
Return on assets โ26.1%
FY23
Return on capital โ
Return on equity โ81.5%
Return on assets โ51.5%
FY24
Return on capital โ
Return on equity โ120.8%
Return on assets โ71.2%
FY25
Return on capital โ
Return on equity โ121.8%
Return on assets โ55.2%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was โ$49.5M in fiscal 2025, โ147.7% of revenue. Cash from operations minus capital spending.
FY21
Free cash flow โ
FY22
Free cash flow โ$29.9M
FY23
Free cash flow โ$46.2M
FY24
Free cash flow โ$50.8M
FY25
Free cash flow โ$49.5M
Q3 '23
Free cash flow โ$10.3M
Q4 '23
Free cash flow โ$11.0M
Q1 '24
Free cash flow โ$13.1M
Q2 '24
Free cash flow โ$10.3M
Q3 '24
Free cash flow โ$13.8M
Q4 '24
Free cash flow โ$13.6M
Q1 '25
Free cash flow โ$16.7M
Q2 '25
Free cash flow โ$15.6M
Q3 '25
Free cash flow โ$14.9M
Q4 '25
Free cash flow โ$2.3M
Q1 '26
Free cash flow โ$22.4M
Q2 '26
Free cash flow โ$19.6M
FY21
Cash from operations โ$0.3M
Capital spending โ
FY22
Cash from operations โ$29.3M
Capital spending $0.6M
FY23
Cash from operations โ$46.1M
Capital spending $0.1M
FY24
Cash from operations โ$50.6M
Capital spending $0.3M
FY25
Cash from operations โ$49.0M
Capital spending $0.5M
Cash from operations
Capital spending
Q3 '23
Cash from operations โ$10.3M
Capital spending $0.0M
Q4 '23
Cash from operations โ$11.0M
Capital spending โ$0.0M
Q1 '24
Cash from operations โ$13.1M
Capital spending $0.0M
Q2 '24
Cash from operations โ$10.2M
Capital spending $0.1M
Q3 '24
Cash from operations โ$13.7M
Capital spending $0.1M
Q4 '24
Cash from operations โ$13.5M
Capital spending $0.1M
Q1 '25
Cash from operations โ$16.6M
Capital spending $0.1M
Q2 '25
Cash from operations โ$15.5M
Capital spending $0.0M
Q3 '25
Cash from operations โ$14.6M
Capital spending $0.3M
Q4 '25
Cash from operations โ$2.3M
Capital spending $0.0M
Q1 '26
Cash from operations โ$22.2M
Capital spending $0.2M
Q2 '26
Cash from operations โ$19.3M
Capital spending $0.3M
Cash from operations
Capital spending
Dividends, buybacks and share count
Orchestra BioMed Holdings, Inc. returned โ to shareholders in fiscal 2025. The diluted share count rose 29.7%.
FY21
Dividends โ
Buybacks โ
FY22
Dividends โ
Buybacks โ
FY23
Dividends โ
Buybacks โ
FY24
Dividends โ
Buybacks โ
FY25
Dividends โ
Buybacks โ
Dividends
Buybacks
FY21
Diluted shares 0.02B
FY22
Diluted shares 0.01B
FY23
Diluted shares 0.03B
FY24
Diluted shares 0.04B
FY25
Diluted shares 0.05B
Balance sheet
Cash, debt and the ratios that show how comfortably Orchestra BioMed Holdings, Inc. can carry it.
FY21
Cash $1.8M
Debt โ
FY22
Cash $83.7M
Debt โ
FY23
Cash $87.5M
Debt โ
FY24
Cash $66.8M
Debt $15.0M
FY25
Cash $107M
Debt $15.0M
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $1.8M | $83.7M | $87.5M | $66.8M | $107M |
| Debt incl. finance leases | โ | โ | โ | $15.0M | $15.0M |
| Debt / equity | โ | โ | โ | 0.5x | 0.3x |
| Interest coverage | โ | โ25.1x | โ36.8x | โ216.5x | โ |
| Current ratio | 10.9x | 4.6x | 8.0x | 4.3x | 6.4x |
| Quick ratio | 10.9x | 4.5x | 7.9x | 4.3x | 6.4x |
| Total assets | $162M | $95.6M | $95.2M | $76.2M | $115M |
| Total liabilities | $5.8M | $43.0M | $27.2M | $43.2M | $51.5M |
| Shareholders' equity | โ$19.8M | $52.5M | $68.0M | $33.0M | $53.6M |
| Net debt (โ = net cash) | โ | โ | โ | โ$51.8M | โ$91.5M |
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 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Net income is positive | โ | โ | โ | โ | โ |
| Cash from operations is positive | โ | โ | โ | โ | โ |
| Return on assets rose | โ | โ | โ | โ | โ |
| Cash from operations exceeds net income | โ | โ | โ | โ | โ |
| Debt fell relative to assets | โ | โ | โ | โ | โ |
| Current ratio rose | โ | โ | โ | โ | โ |
| Share count didn't rise | โ | โ | โ | โ | โ |
| Gross margin rose | โ | โ | โ | โ | โ |
| Revenue rose relative to assets | โ | โ | โ | โ | โ |
| F-score | โ / 3 | โ / 6 | 2 / 8 | 2 / 8 | 6 / 9 |
| Accruals ratio | โ0.1% | โ3.4% | โ3.1% | โ12.2% | โ3.9% |
| Altman Z'' | โ3.63 | โ3.29 | โ4.16 | โ13.57 | โ7.02 |
5 years of figures
Amounts in USD. Hover a ratioโs name for its definition.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Income statement | |||||
| Revenue | โ | $3.5M | $2.8M | $2.6M | $33.5M |
| Net interest income | โ | $0.1M | $3.8M | โ | โ |
| Gross profit | โ | $3.3M | $2.6M | $2.4M | $33.3M |
| Research and development | โ | $21.9M | $33.8M | $42.8M | $58.2M |
| Operating income | โ$0.4M | โ$32.7M | โ$51.5M | โ$64.3M | โ$51.8M |
| Interest expense | โ | $1.3M | $1.4M | $0.3M | โ |
| Income tax | โ | โ | โ | โ | $0.0M |
| Net income | โ$0.4M | โ$33.6M | โ$49.1M | โ$61.0M | โ$52.7M |
| Net income to common | โ | โ | โ | โ$61.0M | โ$53.0M |
| Diluted EPS | โ$0.02 | โ$2.24 | โ$1.48 | โ$1.66 | โ$1.11 |
| Diluted shares | 0.02B | 0.01B | 0.03B | 0.04B | 0.05B |
| Cash flow | |||||
| Cash from operations | โ$0.3M | โ$29.3M | โ$46.1M | โ$50.6M | โ$49.0M |
| Capital expenditure | โ | $0.6M | $0.1M | $0.3M | $0.5M |
| Free cash flow | โ | โ$29.9M | โ$46.2M | โ$50.8M | โ$49.5M |
| Depreciation and amortization | โ | $0.2M | $0.3M | $0.3M | $0.3M |
| Stock-based compensation | โ | $3.4M | $7.6M | $10.6M | $12.0M |
| Balance sheet | |||||
| Cash and short-term investments | $1.8M | $83.7M | $87.5M | $66.8M | $107M |
| Total debt | โ | โ | โ | $15.0M | $15.0M |
| Current assets | $1.8M | $84.7M | $89.1M | $69.2M | $108M |
| Current liabilities | $0.2M | $18.6M | $11.2M | $16.2M | $16.7M |
| Inventory | โ | $0.3M | $0.1M | $0.2M | $0.3M |
| Property and equipment, net | โ | $1.5M | $1.3M | $1.4M | $1.7M |
| Total assets | $162M | $95.6M | $95.2M | $76.2M | $115M |
| Total liabilities | $5.8M | $43.0M | $27.2M | $43.2M | $51.5M |
| Shareholders' equity | โ$19.8M | $52.5M | $68.0M | $33.0M | $53.6M |
| Margins | |||||
| Gross margin | โ | 94.0% | 93.3% | 92.3% | 99.4% |
| Operating margin | โ | โ924.3% | โ1,866.2% | โ2,437.5% | โ154.7% |
| EBITDA margin | โ | โ918.1% | โ1,855.8% | โ2,425.8% | โ153.8% |
| Net margin | โ | โ951.3% | โ1,779.7% | โ2,313.3% | โ157.4% |
| FCF margin | โ | โ845.7% | โ1,674.1% | โ1,927.5% | โ147.7% |
| Net interest share of revenue | โ | 1.4% | 139.5% | โ | โ |
| Returns | |||||
| Return on capital employed | โ0.2% | โ42.4% | โ61.3% | โ107.2% | โ52.8% |
| Return on equity | โ | โ205.2% | โ81.5% | โ120.8% | โ121.8% |
| Return on assets | โ0.2% | โ26.1% | โ51.5% | โ71.2% | โ55.2% |
| Return on tangible equity | โ | โ64.0% | โ72.2% | โ185.2% | โ98.9% |
| Growth | |||||
| Revenue growth | โ | โ | โ21.9% | โ4.4% | 1,169.2% |
| Share count change | โ | โ26.7% | 121.7% | 10.8% | 29.7% |
| Financial health | |||||
| Debt / equity | โ | โ | โ | 0.5x | 0.3x |
| Interest coverage | โ | โ25.1x | โ36.8x | โ216.5x | โ |
| Current ratio | 10.9x | 4.6x | 8.0x | 4.3x | 6.4x |
| Quick ratio | 10.9x | 4.5x | 7.9x | 4.3x | 6.4x |
| Capital allocation | |||||
| Capex / revenue | โ | 16.7% | 2.8% | 11.0% | 1.5% |
| Stock comp / revenue | โ | 95.5% | 276.3% | 402.4% | 35.8% |
| Quality scores | |||||
| Piotroski F-score | โ | โ | 2.0 | 2.0 | 6.0 |
| Altman Z'' | โ3.6 | โ3.3 | โ4.2 | โ13.6 | โ7.0 |
| Accruals ratio | โ0.1% | โ3.4% | โ3.1% | โ12.2% | โ3.9% |
Source: SEC EDGAR XBRL filings (CIK 0001814114). 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.