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Calidi Biotherapeutics, Inc.

CLDI NYSE Biological Products, (No Diagnostic Substances) Financials FY2022–FY2025

Download report 3-page PDF: the company, its results and charts with peers.

Last close Β· Oct 23, 2026

$0.64

0.8%

What Calidi Biotherapeutics, Inc. does

CLDI Β· Biological Products, (No Diagnostic Substances)

From its latest annual report

No business description yet.

Filing details

Legal name
Calidi Biotherapeutics, Inc.
Fiscal year ends
December 31, 2025
Latest annual report
10-K Β· Mar 27, 2026
Accession Β· CIK
0001493152-26-013242 Β· 0001855485

KIRA’s summary AI analyst

Hi! I read Calidi Biotherapeutics, Inc.’s latest annual report (fiscal 2025). Here is what stands out:

1 strength 2 to watch

Calidi Biotherapeutics, Inc. in 30 seconds

Good So-so Weak

Weak

Does it make a profit?

βˆ’$19.9M

No. It lost money last year.

Weak

How healthy are the accounts?

1 / 7

Weak. It passes 1 of 7 health tests.

For information

How is the share priced?

0.0x

One share costs 0.0 times its yearly profit per share.

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.
$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)

Revenue

Total sales reported in the income statement.

See the full section β†’

Operating margin

Operating income as a share of revenue.

See the full section β†’

Net income

Profit after all expenses, interest and tax.

KIRA Β· Calidi Biotherapeutics, Inc. lost $19.9M in fiscal 2025.

See the full section β†’

Free cash flow

Cash from operations minus capital spending.

See the full section β†’

Return on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

See the full section β†’
Charts by

Sales and profit

Is it selling more, and how much does it keep?

Results dates

In plain words: Every quarter, companies publish how much they sold and earned. These are the days Calidi Biotherapeutics, Inc. did it, and the next one. Share prices often move a lot on those days.

Next results

November 12, 2026

Thursday Β· in 17 days

Time
Time not announced
Covers
Period ended Sep 30, 2026
Source
Earnings calendar
See who else reports that week β†’
Date Results for Time Source
Aug 13, 2026 Q2 '26 After the market closes 8-K β†—
May 14, 2026 Q1 '26 After the market closes 8-K β†—
Jan 28, 2026 Q4 '25 After the market closes 8-K β†—
Nov 13, 2025 Q3 '25 After the market closes 8-K β†—
Aug 8, 2025 Q2 '25 After the market closes 8-K β†—
May 14, 2025 Q1 '25 After the market closes 8-K β†—
Jan 23, 2025 Q4 '24 Time not announced 8-K β†—
Nov 12, 2024 Q3 '24 After the market closes 8-K β†—

From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.

Revenue and margins

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

Margins, % of revenue

Gross Operating Net FCF

Net income and earnings per share

KIRA Β· Calidi Biotherapeutics, Inc. lost $19.9M 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

Cash and shareholders

How much cash comes in, and where does it go?

Cash flow

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

Cash from operations vs capital spending

Cash from operations Capital spending

Cash from operations vs capital spending

Cash from operations Capital spending

Dividends, buybacks and share count

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

Dividends Buybacks

Diluted shares outstanding (annual)

Insider trades

KIRA Β· In the last 12 months, insiders sold $0.0M of shares on the open market and bought none.

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. β€œPlan” 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

$0.0M

1 insider

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Dec 12, 2025 Allan CamaisaDirector Sold 850 $1.46 $0.0M Form 4

Financial health

Can it carry its debts, and how well does it use its money?

Balance sheet

KIRA Β· Calidi Biotherapeutics, Inc. has $4.9M more cash than debt.

Cash, debt and the ratios that show how comfortably Calidi Biotherapeutics, 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)

Cash Debt
Fiscal year endFY22FY23FY24FY25
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 β€”β€”0.4x0.2x
Interest coverage βˆ’115.6xβˆ’26.4xβˆ’31.1xβˆ’202.4x
Current ratio 0.0x0.4x1.1x1.6x
Quick ratio 0.0x0.4x1.1x1.6x
Total assets $2.6M$10.0M$14.2M$8.9M
Total liabilities $43.4M$18.3M$12.2M$5.1M
Shareholders' equity βˆ’$50.4Mβˆ’$8.2M$1.5M$3.8M
Net debt (βˆ’ = net cash) $5.0M$0.2Mβˆ’$8.8Mβˆ’$4.9M

Returns on capital

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)

Return on capital Return on equity Return on assets

Piotroski F-score

KIRA Β· Calidi Biotherapeutics, Inc. passes 1 of 7 financial health tests (Piotroski F-score).

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 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.

TestFY22FY23FY24FY25
Net income is positive βœ• βœ• βœ• βœ•
Cash from operations is positive βœ• βœ• βœ• βœ•
Return on assets rose β€” βœ“ βœ“ βœ•
Cash from operations exceeds net income βœ“ βœ“ βœ“ βœ•
Debt fell relative to assets β€” βœ“ βœ“ βœ•
Current ratio rose β€” βœ“ βœ“ βœ“
Share count didn't rise β€” βœ“ βœ“ βœ•
Gross margin rose β€” β€” β€” β€”
Revenue rose relative to assets β€” β€” β€” β€”
F-score β€” / 35 / 75 / 71 / 7
Accruals ratio βˆ’470.3%βˆ’35.4%βˆ’20.2%12.0%
Altman Z'' βˆ’255.99βˆ’56.20βˆ’37.83βˆ’64.99

All figures

Every number, year by year.

4 years of figures

Amounts in USD. Hover a ratio’s 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.

Download CSV
Fiscal yearFY22FY23FY24FY25
Income statement
Revenue $0.0M β€” β€” β€”
Research and development $7.3M $13.0M $8.9M $9.7M
Operating income βˆ’$23.1M βˆ’$29.0M βˆ’$21.8M βˆ’$20.2M
Interest expense $0.2M $1.1M $0.7M $0.1M
Pretax income βˆ’$25.4M βˆ’$29.2M βˆ’$22.2M βˆ’$20.0M
Income tax $0.0M $0.0M $0.0M $0.0M
Net income βˆ’$25.4M βˆ’$29.2M βˆ’$22.1M βˆ’$19.9M
Net income to common $1.1M βˆ’$29.2M βˆ’$23.8M βˆ’$25.6M
Diluted EPS $2.99 βˆ’$17.33 βˆ’$35.70 βˆ’$5.95
Diluted shares 0.01B 0.00B 0.00B 0.00B
Cash flow
Cash from operations βˆ’$13.2M βˆ’$27.0M βˆ’$19.7M βˆ’$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 β€” β€” β€”
Shareholders' equity βˆ’$50.4M βˆ’$8.2M $1.5M $3.8M
Margins
Operating margin βˆ’51,395.6% β€” β€” β€”
EBITDA margin βˆ’50,817.8% β€” β€” β€”
Net margin βˆ’56,504.4% β€” β€” β€”
Returns
Return on capital employed 57.3% 13,611.3% βˆ’464.7% βˆ’411.2%
Return on equity β€” β€” β€” βˆ’752.2%
Return on assets βˆ’979.1% βˆ’463.2% βˆ’183.0% βˆ’172.8%
Return on tangible equity β€” β€” βˆ’1,552.4% βˆ’680.5%
Growth
EPS growth β€” βˆ’679.6% β€” β€”
Share count change β€” βˆ’80.2% βˆ’100.0% 514.3%
Financial health
Debt / equity β€” β€” 0.4x 0.2x
Interest coverage βˆ’115.6x βˆ’26.4x βˆ’31.1x βˆ’202.4x
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% β€” β€” β€”
Quality scores
Piotroski F-score β€” 5.0 5.0 1.0
Altman Z'' βˆ’256.0 βˆ’56.2 βˆ’37.8 βˆ’65.0
Accruals ratio βˆ’470.3% βˆ’35.4% βˆ’20.2% 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 β€” not investment advice. Check the original filings before relying on any figure.

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