1.Sales and profit
See section β- InflaRx N.V. had $0.0M of revenue in fiscal 2025, down 81.5% on the year before.
- InflaRx N.V. lost $51.5M in fiscal 2025.
InflaRx N.V.
IFRX Nasdaq Pharmaceutical Preparations Financials FY2016βFY2025
InflaRx N.V. had $0.0M of revenue in fiscal 2025, down 81.5% on the year before.
- Today
- 1.0%
- Previous close
- $1.56
- Market cap
- $106M
- P/E
- β
- 52-week range
-
$0.83 $2.74
Last close Β· Oct 26, 2026
$1.58
+$0.18 (+12.50%) past year
KIRAβs summary AI analyst
Hi! I read InflaRx N.V.βs latest annual report (fiscal 2025). Here is what stands out:
3 to watch
2.Cash and shareholders
See section β- No open-market insider trades in the last 12 months.
3.Financial health
See section β- InflaRx N.V. passes 1 of 8 financial health tests (Piotroski F-score).
InflaRx N.V. in 30 seconds
Good So-so Weak
Weak
Are sales growing?
β81.5%
No. Sales fell 81.5% last year.
Weak
Does it make a profit?
β155,465.0%
No. It lost money last year.
Weak
How healthy are the accounts?
1 / 8
Weak. It passes 1 of 8 health tests.
For information
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.
Key numbers, fiscal 2025
Market cap
Last close times the latest diluted share count, so it is approximate.
$106M
Oct 26 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
β
On β$0.77 EPS (TTM)
Charts by
Sales and profit
Is it selling more, and how much does it keep?
Revenue and margins
KIRA summarises the numbers
-
InflaRx N.V. had $0.0M of revenue in fiscal 2025, down 81.5% on the year before.
Revenue
FY16
Revenue β$7.6M
FY17
Revenue β$21.9M
FY18
Revenue β$44.3M
FY19
Revenue β
FY20
Revenue β
FY21
Revenue β
FY22
Revenue β$33.9M
FY23
Revenue $0.1M
FY24
Revenue $0.2M
FY25
Revenue $0.0M
Revenue
Q2 '18
Revenue β$9.7M
Q2 '19
Revenue β$18.2M
Q2 '21
Revenue β$16.9M
Q2 '22
Revenue β$1.2M
Q2 '23
Revenue β$10.7M
Q2 '24
Revenue $0.0M
Q2 '25
Revenue $0.0M
Margins, % of revenue
FY16
Gross 103.4%
Operating β
Net 129.7%
FCF β
FY17
Gross 100.6%
Operating β
Net 124.6%
FCF β
FY18
Gross 100.8%
Operating β
Net 79.5%
FCF β
FY19
Gross β
Operating β
Net β
FCF β
FY20
Gross β
Operating β
Net β
FCF β
FY21
Gross β
Operating β
Net β
FCF β
FY22
Gross β
Operating 100.0%
Net 91.5%
FCF β
FY23
Gross β744.0%
Operating β71,207.8%
Net β67,655.0%
FCF β
FY24
Gross β1,900.2%
Operating β
Net β27,777.3%
FCF β
FY25
Gross β24,659.5%
Operating β
Net β155,465.0%
FCF β
Gross
Operating
Net
FCF
Margins, % of revenue
Q2 '18
Gross 100.5%
Operating β
Net 30.0%
FCF β
Q2 '19
Gross 99.5%
Operating β
Net 94.1%
FCF β
Q2 '21
Gross β
Operating β
Net 105.7%
FCF β
Q2 '22
Gross β
Operating β
Net β42.8%
FCF β
Q2 '23
Gross β
Operating β
Net 83.2%
FCF β
Q2 '24
Gross β5,411.8%
Operating β
Net β219,239.7%
FCF β
Q2 '25
Gross β5,980.1%
Operating β
Net β36,528.0%
FCF β
Gross
Operating
Net
FCF
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).
Net income and earnings per share
Loss periods are shown in red.
KIRA summarises the numbers
-
InflaRx N.V. lost $51.5M in fiscal 2025.
Net income
FY16
Net income β$9.9M
FY17
Net income β$27.3M
FY18
Net income β$35.2M
FY19
Net income β$59.6M
FY20
Net income β$38.7M
FY21
Net income β$54.0M
FY22
Net income β$31.0M
FY23
Net income β$46.1M
FY24
Net income β$49.8M
FY25
Net income β$51.5M
Net income
Q2 '18
Net income β$2.9M
Q2 '19
Net income β$17.2M
Q2 '21
Net income β$17.8M
Q2 '22
Net income $0.5M
Q2 '23
Net income β$8.9M
Q2 '24
Net income β$14.9M
Q2 '25
Net income β$16.3M
Diluted EPS
FY16
Diluted EPS β$4.20
FY17
Diluted EPS β$2.91
FY18
Diluted EPS β$1.40
FY19
Diluted EPS β$2.29
FY20
Diluted EPS β$1.44
FY21
Diluted EPS β$1.30
FY22
Diluted EPS β$0.70
FY23
Diluted EPS β$0.84
FY24
Diluted EPS β$0.84
FY25
Diluted EPS β$0.77
Diluted EPS
Q2 '18
Diluted EPS β$0.12
Q2 '19
Diluted EPS β$0.66
Q2 '21
Diluted EPS β$0.40
Q2 '22
Diluted EPS $0.01
Q2 '23
Diluted EPS β$0.15
Q2 '24
Diluted EPS β$0.26
Q2 '25
Diluted EPS β$0.24
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.
Cash and shareholders
How much cash comes in, and where does it go?
Cash flow
Cash from operations minus capital spending.
Free cash flow
FY16
Free cash flow β
FY17
Free cash flow β
FY18
Free cash flow β
FY19
Free cash flow β
FY20
Free cash flow β
FY21
Free cash flow β
FY22
Free cash flow β
FY23
Free cash flow β
FY24
Free cash flow β
FY25
Free cash flow β
Cash from operations vs capital spending
FY16
Cash from operations β$5.5M
Capital spending β
FY17
Cash from operations β$13.7M
Capital spending β
FY18
Cash from operations β$25.4M
Capital spending β
FY19
Cash from operations β$48.4M
Capital spending β
FY20
Cash from operations β$41.6M
Capital spending β
FY21
Cash from operations β$47.2M
Capital spending β
FY22
Cash from operations β$35.5M
Capital spending β
FY23
Cash from operations β$40.9M
Capital spending β
FY24
Cash from operations β$52.5M
Capital spending β
FY25
Cash from operations β$39.8M
Capital spending β
Cash from operations
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.
Dividends, buybacks and share count
Dividends and buybacks
FY16
Dividends β
Buybacks β
FY17
Dividends β
Buybacks β
FY18
Dividends β
Buybacks β
FY19
Dividends β
Buybacks β
FY20
Dividends β
Buybacks β
FY21
Dividends β
Buybacks β
FY22
Dividends β
Buybacks β
FY23
Dividends β
Buybacks β
FY24
Dividends β
Buybacks β
FY25
Dividends β
Buybacks β
Dividends
Buybacks
Diluted shares outstanding (annual)
FY16
Diluted shares 0.00B
FY17
Diluted shares 0.01B
FY18
Diluted shares 0.03B
FY19
Diluted shares 0.03B
FY20
Diluted shares 0.03B
FY21
Diluted shares 0.04B
FY22
Diluted shares 0.04B
FY23
Diluted shares 0.05B
FY24
Diluted shares 0.06B
FY25
Diluted shares 0.07B
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).
Insider trades
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.
KIRA summarises the numbers
-
No open-market insider trades in the last 12 months.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
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.
Financial health
Can it carry its debts, and how well does it use its money?
Balance sheet
Cash, debt and the ratios that show how comfortably InflaRx N.V. can carry it.
Cash vs debt (incl. leases)
FY16
Cash $30.7M
Debt β
FY17
Cash $148M
Debt β
FY18
Cash $63.4M
Debt β
FY19
Cash $37.2M
Debt β
FY20
Cash $31.9M
Debt β
FY21
Cash $29.7M
Debt $0.0M
FY22
Cash $17.3M
Debt β
FY23
Cash $14.1M
Debt β
FY24
Cash $19.1M
Debt β
FY25
Cash $18.8M
Debt β
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $29.7M | $17.3M | $14.1M | $19.1M | $18.8M |
| Debt incl. finance leases | $0.0M | β | β | β | β |
| Debt / equity | 0.0x | β | β | β | β |
| Interest coverage | β4,435.9x | β1,383.0x | β2,713.1x | β | β |
| Current ratio | 5.1x | 7.5x | 6.5x | 5.1x | 4.1x |
| Quick ratio | 5.1x | 7.5x | 5.8x | 4.6x | 4.1x |
| Total assets | $142M | $109M | $133M | $79.0M | $64.9M |
| Total liabilities | $22.5M | $15.0M | $19.5M | $15.2M | $16.0M |
| Shareholders' equity | $119M | $7.7M | $8.2M | $7.7M | $8.4M |
| Net debt (β = net cash) | β$29.7M | β | β | β | β |
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.
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Return on capital, equity and assets (annual)
FY16
Return on capital β
Return on equity β
Return on assets β31.8%
FY17
Return on capital β
Return on equity β47.0%
Return on assets β30.3%
FY18
Return on capital β
Return on equity β22.2%
Return on assets β21.2%
FY19
Return on capital β
Return on equity β40.6%
Return on assets β37.4%
FY20
Return on capital β
Return on equity β35.9%
Return on assets β31.6%
FY21
Return on capital β49.7%
Return on equity β50.2%
Return on assets β43.2%
FY22
Return on capital β
Return on equity β48.8%
Return on assets β24.7%
FY23
Return on capital β
Return on equity β580.5%
Return on assets β38.1%
FY24
Return on capital β
Return on equity β627.3%
Return on assets β47.1%
FY25
Return on capital β
Return on equity β637.0%
Return on assets β71.5%
Return on capital
Return on equity
Return on assets
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
KIRA summarises the numbers
-
InflaRx N.V. passes 1 of 8 financial health tests (Piotroski F-score).
| 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 / 7 | 1 / 7 | β / 6 | β / 6 | β / 6 | β / 6 | 2 / 7 | 1 / 8 | 1 / 8 |
| Accruals ratio | β14.0% | β15.1% | β5.9% | β7.1% | 2.4% | β5.4% | 3.6% | β4.3% | 2.5% | β16.2% |
| Altman Z'' | β | β | β | β | β | 1.35 | β3.89 | β4.72 | β | β |
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.
All figures
Every number, year by year.
10 years of figures
Amounts in USD. Hover a ratioβs name for its definition.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | β$7.6M | β$21.9M | β$44.3M | β | β | β | β$33.9M | $0.1M | $0.2M | $0.0M |
| Provision for credit losses | β | β | β | β | $6.8M | β$8.0M | β$4.4M | β | β | β |
| Gross profit | β$7.9M | β$22.0M | β$44.6M | β | β | β | β | β$0.5M | β$3.4M | β$8.2M |
| Research and development | $5.8M | $16.3M | $29.5M | $49.9M | $29.3M | $42.2M | $39.4M | $44.4M | $38.3M | $29.0M |
| Operating income | β | β | β | β | β | β$56.3M | β$33.9M | β$48.6M | β | β |
| Interest expense | $2.3M | $5.5M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Pretax income | β$9.9M | β$27.3M | β$35.2M | β$59.6M | β$38.7M | β$54.0M | β$31.0M | β$46.1M | β$49.8M | β$51.4M |
| Income tax | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | β | β | $0.0M | $0.0M |
| Net income | β$9.9M | β$27.3M | β$35.2M | β$59.6M | β$38.7M | β$54.0M | β$31.0M | β$46.1M | β$49.8M | β$51.5M |
| Diluted EPS | β$4.20 | β$2.91 | β$1.40 | β$2.29 | β$1.44 | β$1.30 | β$0.70 | β$0.84 | β$0.84 | β$0.77 |
| Diluted shares | 0.00B | 0.01B | 0.03B | 0.03B | 0.03B | 0.04B | 0.04B | 0.05B | 0.06B | 0.07B |
| Cash flow | ||||||||||
| Cash from operations | β$5.5M | β$13.7M | β$25.4M | β$48.4M | β$41.6M | β$47.2M | β$35.5M | β$40.9M | β$52.5M | β$39.8M |
| Depreciation and amortization | β | β | β | β | $0.4M | $0.4M | $0.4M | $0.4M | $0.4M | $0.4M |
| Stock-based compensation | $1.0M | $5.1M | $14.3M | $7.6M | $1.3M | $5.1M | $6.4M | $3.7M | $4.4M | $5.0M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $30.7M | $148M | $63.4M | $37.2M | $31.9M | $29.7M | $17.3M | $14.1M | $19.1M | $18.8M |
| Total debt | β | β | β | β | β | $0.0M | β | β | β | β |
| Current assets | $31.0M | $149M | $181M | $134M | $106M | $108M | $104M | $121M | $74.4M | $63.0M |
| Current liabilities | $1.8M | $5.7M | $8.9M | $15.8M | $12.4M | $21.2M | $13.9M | $18.6M | $14.7M | $15.3M |
| Inventory | β | β | β | β | β | β | β | $12.6M | $7.2M | β |
| Property and equipment, net | β | $0.2M | $0.7M | $0.6M | $0.5M | $0.3M | $0.4M | $0.3M | $0.3M | $0.3M |
| Intangible assets | $0.0M | $0.0M | $0.3M | $0.5M | $0.4M | $0.3M | $0.1M | β | β | β |
| Total assets | $31.1M | $149M | $182M | $137M | $108M | $142M | $109M | $133M | $79.0M | $64.9M |
| Total liabilities | $58.2M | $5.7M | $9.0M | $16.2M | $12.7M | $22.5M | $15.0M | $19.5M | $15.2M | $16.0M |
| Shareholders' equity | β$27.1M | $143M | $173M | $120M | $95.5M | $119M | $7.7M | $8.2M | $7.7M | $8.4M |
| Margins | ||||||||||
| Gross margin | 103.4% | 100.6% | 100.8% | β | β | β | β | β744.0% | β1,900.2% | β24,659.5% |
| Operating margin | β | β | β | β | β | β | 100.0% | β71,207.8% | β | β |
| EBITDA margin | β | β | β | β | β | β | 98.8% | β70,608.5% | β | β |
| Net margin | 129.7% | 124.6% | 79.5% | β | β | β | 91.5% | β67,655.0% | β27,777.3% | β155,465.0% |
| Returns | ||||||||||
| Return on capital | β | β | β | β | β | β49.7% | β | β | β | β |
| Return on capital employed | β | β | β | β | β | β46.8% | β35.5% | β42.5% | β | β |
| Return on equity | β | β47.0% | β22.2% | β40.6% | β35.9% | β50.2% | β48.8% | β580.5% | β627.3% | β637.0% |
| Return on assets | β31.8% | β30.3% | β21.2% | β37.4% | β31.6% | β43.2% | β24.7% | β38.1% | β47.1% | β71.5% |
| Return on tangible equity | β | β19.1% | β20.3% | β49.7% | β40.7% | β45.4% | β408.2% | β565.6% | β644.7% | β610.7% |
| Growth | ||||||||||
| Revenue growth | β | β | β | β | β | β | β | β | 163.0% | β81.5% |
| Share count change | β | 392,004.2% | 166.7% | 3.6% | 4.1% | 53.8% | 6.2% | 24.3% | 7.2% | 14.2% |
| Financial health | ||||||||||
| Debt / equity | β | β | β | β | β | 0.0x | β | β | β | β |
| Interest coverage | β | β | β | β | β | β4,435.9x | β1,383.0x | β2,713.1x | β | β |
| Current ratio | 16.8x | 26.0x | 20.4x | 8.5x | 8.5x | 5.1x | 7.5x | 6.5x | 5.1x | 4.1x |
| Quick ratio | 16.8x | 26.0x | 20.4x | 8.5x | 8.5x | 5.1x | 7.5x | 5.8x | 4.6x | 4.1x |
| Capital allocation | ||||||||||
| Stock comp / revenue | β13.1% | β23.4% | β32.2% | β | β | β | β18.7% | 5,414.1% | 2,451.7% | 15,142.0% |
| Quality scores | ||||||||||
| Piotroski F-score | β | 4.0 | 1.0 | β | β | β | β | 2.0 | 1.0 | 1.0 |
| Altman Z'' | β | β | β | β | β | 1.4 | β3.9 | β4.7 | β | β |
| Accruals ratio | β14.0% | β15.1% | β5.9% | β7.1% | 2.4% | β5.4% | 3.6% | β4.3% | 2.5% | β16.2% |
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
Source: SEC EDGAR XBRL filings (CIK 0001708688). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. Filed in EUR under IFRS and converted to US$: income and cash-flow lines at each period's average exchange rate, balance-sheet lines at the period-end rate. For information only β not investment advice. Check the original filings before relying on any figure.