1.Sales and profit
See section β- Exicure, Inc. had $0.0M of revenue in fiscal 2025, down 100.0% on the year before.
- Exicure, Inc. lost $4.9M in fiscal 2025.
XCUR Nasdaq Pharmaceutical Preparations Financials FY2016βFY2025
Exicure, Inc. had $0.0M of revenue in fiscal 2025, down 100.0% on the year before.
Last close Β· Oct 23, 2026
$1.05
7.1%Hi! I read Exicure, Inc.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
β100.0%
No. Sales fell 100.0% last year.
Does it make a profit?
β$4.9M
No. It lost money last year.
How healthy are the accounts?
1 / 7
Weak. It passes 1 of 7 health tests.
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
KIRA Β· Exicure, Inc. had $0.0M of revenue in fiscal 2025, down 100.0% on the year before.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· Exicure, Inc. lost $4.9M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was β$8.6M in fiscal 2025, β of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· In the last 12 months, insiders sold $11.6M of shares on the open market and bought none.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$11.6M
2 insiders
Of sales under plans
0%
$0.0M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Jan 21, 2026 | Exicure HiTron Inc.10% owner | Sold | 258,367 | $4.50 | $1.2M | Form 4 |
| Jan 16, 2026 | Exicure HiTron Inc.10% owner | Sold | 734,747 | $4.50 | $3.3M | Form 4 |
| Jan 7, 2026 | Exicure HiTron Inc.10% owner | Sold | 741,272 | $4.50 | $3.3M | Form 4 |
| Dec 8, 2025 | Sangsangin Investment & Securities Co., LTD.10% owner | Sold | 433,332 | $8.71 | $3.8M | Form 4 |
Can it carry its debts, and how well does it use its money?
Cash, debt and the ratios that show how comfortably Exicure, Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $39.1M | $8.6M | $0.8M | $12.5M | $3.7M |
| Debt incl. finance leases | $6.9M | $0.0M | $0.0M | β | β |
| Debt / equity | 0.6x | 0.0x | 0.0x | β | β |
| Interest coverage | β37.0x | β3.1x | β | β679.6x | β4,233.0x |
| Current ratio | 1.3x | 6.1x | 0.8x | 4.5x | 1.2x |
| Quick ratio | 1.3x | 6.1x | 0.8x | 4.5x | 1.2x |
| Total assets | $64.9M | $23.3M | $11.6M | $15.1M | $14.0M |
| Total liabilities | $53.6M | $8.4M | $8.5M | $8.3M | $10.1M |
| Shareholders' equity | $11.2M | $14.9M | $3.0M | $6.8M | $3.9M |
| Net debt (β = net cash) | β$32.3M | β$8.6M | β$0.8M | β | β |
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· Exicure, Inc. passes 1 of 7 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β | β |
| F-score | β / 3 | 4 / 8 | 2 / 8 | 5 / 8 | 2 / 8 | 3 / 8 | 4 / 8 | 2 / 8 | 4 / 7 | 1 / 7 |
| Accruals ratio | β57.8% | 35.4% | β10.1% | β38.4% | 13.5% | β35.4% | 75.0% | β37.6% | β51.0% | 24.8% |
| Altman Z'' | β6.20 | 1.63 | β2.67 | 3.25 | 1.26 | β13.84 | β20.43 | β61.97 | β43.13 | β48.69 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $1.0M | $9.7M | $0.1M | $1.3M | $16.6M | β$0.5M | $28.8M | $0.0M | $0.5M | $0.0M |
| Research and development | $13.7M | $13.1M | $14.1M | $19.3M | $32.1M | $49.0M | $19.8M | $1.4M | $0.0M | $3.3M |
| Operating income | β$16.2M | β$10.4M | β$21.8M | β$26.6M | β$25.4M | β$62.5M | β$1.8M | β$15.0M | β$12.2M | β$4.2M |
| Interest expense | $0.7M | $0.8M | $0.7M | $0.8M | $0.6M | $1.7M | $0.6M | $0.0M | $0.0M | $0.0M |
| Pretax income | β$16.9M | β$12.0M | β | β$26.3M | β$24.7M | β$64.1M | β$2.4M | β$16.9M | β$9.7M | β$5.6M |
| Income tax | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.2M | $0.0M | $0.0M | β$0.6M |
| Net income | β$16.9M | β$11.0M | β$22.4M | β$26.3M | β$24.7M | β$64.1M | β$2.6M | β$16.9M | β$9.7M | β$4.9M |
| Net income to common | β | β | β | β | β$24.7M | β$64.1M | β$2.6M | β$16.9M | β$9.7M | β$4.9M |
| Diluted EPS | β$149.37 | β$1.09 | β$0.54 | β$0.46 | β$0.28 | β$21.70 | β$0.56 | β$10.55 | β$4.75 | β$0.79 |
| Diluted shares | 0.00B | 0.01B | 0.04B | 0.06B | 0.09B | 0.00B | 0.00B | 0.00B | 0.00B | 0.01B |
| Cash flow | ||||||||||
| Cash from operations | β$5.1M | β$19.8M | β$19.5M | $1.3M | β$39.3M | β$34.8M | β$35.7M | β$10.4M | β$2.9M | β$8.6M |
| Capital expenditure | $0.4M | $0.9M | $0.1M | $1.1M | $3.2M | $1.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Free cash flow | β$5.4M | β$20.7M | β$19.6M | $0.2M | β$42.4M | β$35.8M | β$35.7M | β$10.4M | β$2.9M | β$8.6M |
| Depreciation and amortization | $0.2M | $0.2M | $0.4M | $0.4M | $0.8M | $1.1M | $1.2M | $0.6M | $0.0M | $0.2M |
| Stock-based compensation | $0.7M | $1.5M | $1.8M | $1.8M | $2.2M | $2.9M | $1.4M | $1.3M | $0.0M | $0.0M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $19.6M | $25.8M | $26.3M | $111M | $82.1M | $39.1M | $8.6M | $0.8M | $12.5M | $3.7M |
| Total debt | $5.7M | $4.9M | $4.9M | $5.0M | $16.6M | $6.9M | $0.0M | $0.0M | β | β |
| Current assets | $20.0M | $27.6M | $27.7M | $113M | $86.3M | $43.7M | $10.1M | $2.0M | $13.7M | $4.6M |
| Current liabilities | $12.2M | $3.4M | $2.0M | $31.1M | $13.7M | $34.1M | $1.6M | $2.5M | $3.1M | $3.9M |
| Property and equipment, net | $0.5M | $1.3M | $1.1M | $2.1M | $4.1M | $3.9M | $2.5M | $0.1M | $0.0M | $0.3M |
| Goodwill | β | β | β | β | β | β | β | β | $0.0M | $4.4M |
| Intangible assets | β | β | β | β | β | β | β | β | $0.0M | $3.8M |
| Total assets | $20.6M | $29.0M | $28.8M | $115M | $100M | $64.9M | $23.3M | $11.6M | $15.1M | $14.0M |
| Total liabilities | $18.1M | $9.0M | $7.8M | $34.5M | $38.9M | $53.6M | $8.4M | $8.5M | $8.3M | $10.1M |
| Preferred stock | β | β | β | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Shareholders' equity | $2.4M | $20.0M | $21.0M | $80.7M | $61.5M | $11.2M | $14.9M | $3.0M | $6.8M | $3.9M |
| Margins | ||||||||||
| Operating margin | β1,560.0% | β107.1% | β18,490.7% | β2,053.8% | β153.1% | 12,950.1% | β6.4% | β | β2,446.4% | β |
| EBITDA margin | β1,542.7% | β104.7% | β18,187.3% | β2,023.5% | β148.5% | 12,717.6% | β2.3% | β | β2,440.8% | β |
| Net margin | β1,635.2% | β113.3% | β18,994.1% | β2,029.6% | β148.5% | 13,271.6% | β9.0% | β | β1,940.2% | β |
| FCF margin | β525.5% | β213.1% | β16,594.1% | 18.1% | β255.5% | 7,409.3% | β123.7% | β | β582.0% | β |
| Returns | ||||||||||
| Return on capital | β | β | β | β | β | β | β22.8% | β534.8% | β | β |
| Return on capital employed | β192.0% | β40.6% | β81.7% | β31.6% | β29.3% | β203.1% | β8.4% | β165.3% | β102.1% | β41.7% |
| Return on equity | β692.0% | β98.2% | β109.5% | β51.7% | β34.7% | β176.3% | β19.7% | β188.4% | β197.9% | β92.5% |
| Return on assets | β82.3% | β44.4% | β77.6% | β36.5% | β22.9% | β77.6% | β5.9% | β96.9% | β72.8% | β34.0% |
| Return on tangible equity | β692.0% | β55.1% | β107.0% | β32.6% | β40.1% | β570.7% | β17.3% | β558.0% | β143.3% | β |
| Growth | ||||||||||
| Revenue growth | β | 838.1% | β98.8% | 998.3% | 1,181.9% | β102.9% | β | β100.0% | β | β100.0% |
| FCF growth | β | β | β | β | β18,160.0% | β | β | β | β | β |
| Share count change | β | 8,823.8% | 307.0% | 40.0% | 51.2% | β96.6% | 56.4% | β65.3% | 27.5% | 208.2% |
| Financial health | ||||||||||
| Debt / equity | 2.3x | 0.2x | 0.2x | 0.1x | 0.3x | 0.6x | 0.0x | 0.0x | β | β |
| Interest coverage | β22.3x | β13.1x | β32.5x | β33.9x | β44.4x | β37.0x | β3.1x | β | β679.6x | β4,233.0x |
| Current ratio | 1.6x | 8.2x | 13.5x | 3.6x | 6.3x | 1.3x | 6.1x | 0.8x | 4.5x | 1.2x |
| Quick ratio | 1.6x | 8.2x | 13.5x | 3.6x | 6.3x | 1.3x | 6.1x | 0.8x | 4.5x | 1.2x |
| Capital allocation | ||||||||||
| Capex / revenue | 38.0% | 9.5% | 79.7% | 83.5% | 19.1% | β200.4% | 0.0% | β | 0.0% | β |
| Stock comp / revenue | 65.8% | 15.0% | 1,533.1% | 142.0% | 13.1% | β608.5% | 4.7% | β | 4.4% | β |
| Quality scores | ||||||||||
| Piotroski F-score | β | 4.0 | 2.0 | 5.0 | 2.0 | 3.0 | 4.0 | 2.0 | 4.0 | 1.0 |
| Altman Z'' | β6.2 | 1.6 | β2.7 | 3.3 | 1.3 | β13.8 | β20.4 | β62.0 | β43.1 | β48.7 |
| Accruals ratio | β57.8% | 35.4% | β10.1% | β38.4% | 13.5% | β35.4% | 75.0% | β37.6% | β51.0% | 24.8% |
Source: SEC EDGAR XBRL filings (CIK 0001698530). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.