1.Sales and profit
See section β- LeonaBio, Inc. lost $106M in fiscal 2025.
LeonaBio, Inc.
LONA Nasdaq Biological Products, (No Diagnostic Substances) Financials FY2019βFY2025
Last close Β· Oct 26, 2026
$4.76
1.7%KIRAβs summary AI analyst
Hi! I read LeonaBio, Inc.βs latest annual report (fiscal 2025). Here is what stands out:
1 to watch
2.Cash and shareholders
See section β- In the last 12 months, insiders sold $0.1M of shares on the open market and bought none.
LeonaBio, Inc. in 30 seconds
Good So-so Weak
Weak
Does it make a profit?
β$106M
No. It lost money last year.
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.
$113M
Oct 26 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
β
On β$23.11 EPS (TTM)
Charts by
Sales and profit
Is it selling more, and how much does it keep?
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
FY19
Revenue β
FY20
Revenue β
FY21
Revenue β
FY22
Revenue β
FY23
Revenue β
FY24
Revenue β
FY25
Revenue β
Margins, % of revenue
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 β
Net β
FCF β
FY23
Gross β
Operating β
Net β
FCF β
FY24
Gross β
Operating β
Net β
FCF β
FY25
Gross β
Operating β
Net β
FCF β
Gross
Operating
Net
FCF
Net income and earnings per share
KIRA Β· LeonaBio, Inc. lost $106M 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
FY19
Net income β$5.2M
FY20
Net income β$20.0M
FY21
Net income β$54.9M
FY22
Net income β$95.6M
FY23
Net income β$118M
FY24
Net income β$96.9M
FY25
Net income β$106M
Net income
Q3 '23
Net income β$33.0M
Q4 '23
Net income β$27.3M
Q1 '24
Net income β$26.3M
Q2 '24
Net income β$26.9M
Q3 '24
Net income β$28.7M
Q4 '24
Net income β$15.0M
Q1 '25
Net income β$9.1M
Q2 '25
Net income β$7.0M
Q3 '25
Net income β$6.6M
Q4 '25
Net income β$82.9M
Q1 '26
Net income β$32.9M
Q2 '26
Net income β$19.0M
Diluted EPS
FY19
Diluted EPS β$1.45
FY20
Diluted EPS β$1.67
FY21
Diluted EPS β$1.49
FY22
Diluted EPS β$2.53
FY23
Diluted EPS β$3.09
FY24
Diluted EPS β$25.19
FY25
Diluted EPS β$24.70
Diluted EPS
Q3 '23
Diluted EPS β$0.87
Q4 '23
Diluted EPS β$0.71
Q1 '24
Diluted EPS β$0.69
Q2 '24
Diluted EPS β$0.70
Q3 '24
Diluted EPS β$7.46
Q4 '24
Diluted EPS β$16.34
Q1 '25
Diluted EPS β$2.34
Q2 '25
Diluted EPS β$1.78
Q3 '25
Diluted EPS β$1.68
Q4 '25
Diluted EPS β$18.90
Q1 '26
Diluted EPS β$1.73
Q2 '26
Diluted EPS β$0.80
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
FY19
Free cash flow β
FY20
Free cash flow β$26.4M
FY21
Free cash flow β$44.7M
FY22
Free cash flow β$73.6M
FY23
Free cash flow β$101M
FY24
Free cash flow β$97.2M
FY25
Free cash flow β
Free cash flow
Q3 '23
Free cash flow β$24.0M
Q4 '23
Free cash flow β$26.3M
Q1 '24
Free cash flow β$25.8M
Q2 '24
Free cash flow β$22.4M
Q3 '24
Free cash flow β$23.0M
Q4 '24
Free cash flow β$26.0M
Q1 '25
Free cash flow β
Q2 '25
Free cash flow β
Q3 '25
Free cash flow β
Q4 '25
Free cash flow β
Q1 '26
Free cash flow β
Q2 '26
Free cash flow β
Cash from operations vs capital spending
FY19
Cash from operations β$3.7M
Capital spending β
FY20
Cash from operations β$24.1M
Capital spending $2.3M
FY21
Cash from operations β$43.1M
Capital spending $1.6M
FY22
Cash from operations β$72.5M
Capital spending $1.1M
FY23
Cash from operations β$101M
Capital spending $0.3M
FY24
Cash from operations β$97.2M
Capital spending $0.0M
FY25
Cash from operations β$45.7M
Capital spending β
Cash from operations
Capital spending
Cash from operations vs capital spending
Q3 '23
Cash from operations β$24.0M
Capital spending $0.0M
Q4 '23
Cash from operations β$26.3M
Capital spending $0.0M
Q1 '24
Cash from operations β$25.8M
Capital spending $0.0M
Q2 '24
Cash from operations β$22.3M
Capital spending $0.0M
Q3 '24
Cash from operations β$23.0M
Capital spending $0.0M
Q4 '24
Cash from operations β$26.0M
Capital spending $0.0M
Q1 '25
Cash from operations β$14.7M
Capital spending β
Q2 '25
Cash from operations β$7.0M
Capital spending β
Q3 '25
Cash from operations β$4.7M
Capital spending β
Q4 '25
Cash from operations β$19.4M
Capital spending β
Q1 '26
Cash from operations β$20.9M
Capital spending β
Q2 '26
Cash from operations β$17.0M
Capital spending β
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
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)
FY19
Diluted shares 0.00B
FY20
Diluted shares 0.01B
FY21
Diluted shares 0.04B
FY22
Diluted shares 0.04B
FY23
Diluted shares 0.04B
FY24
Diluted shares 0.00B
FY25
Diluted shares 0.00B
Insider trades
KIRA Β· In the last 12 months, insiders sold $0.1M 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
$0.1M
5 insiders
Of sales under plans
0%
$0.0M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Mar 4, 2026 | Kevin ChurchChief Scientific Officer | Sold | 1,359 | $5.37 | $0.0M | Form 4 |
| Mar 4, 2026 | Mark James LittonPRESIDENT and CEO, Director | Sold | 5,156 | $5.37 | $0.0M | Form 4 |
| Mar 4, 2026 | Mark WorthingtonGENERAL COUNSEL and CCO | Sold | 1,328 | $5.37 | $0.0M | Form 4 |
| Mar 4, 2026 | Martin Javier SanChief Medical Officer | Sold | 1,720 | $5.37 | $0.0M | Form 4 |
| Mar 4, 2026 | Robert RenningerChief Financial Officer | Sold | 906 | $5.37 | $0.0M | Form 4 |
| Jan 2, 2026 | Kevin ChurchChief Scientific Officer | Sold | 876 | $6.88 | $0.0M | Form 4 |
| Jan 2, 2026 | Mark James LittonPresident and CEO, Director | Sold | 2,586 | $6.88 | $0.0M | Form 4 |
| Jan 2, 2026 | Mark WorthingtonGeneral Counsel and CCO | Sold | 876 | $6.88 | $0.0M | Form 4 |
| Jan 2, 2026 | Martin Javier SanChief Medical Officer | Sold | 1,644 | $6.88 | $0.0M | Form 4 |
| Jan 2, 2026 | Robert RenningerChief Financial Officer | Sold | 297 | $6.88 | $0.0M | Form 4 |
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 LeonaBio, 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)
FY19
Cash $2.1M
Debt β
FY20
Cash $185M
Debt β
FY21
Cash $254M
Debt β
FY22
Cash $200M
Debt β
FY23
Cash $147M
Debt β
FY24
Cash $51.3M
Debt β
FY25
Cash $88.3M
Debt β
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $254M | $200M | $147M | $51.3M | $88.3M |
| Interest coverage | β21,340.7x | β | β | β | β |
| Current ratio | 28.1x | 9.7x | 5.4x | 4.2x | 1.9x |
| Quick ratio | 28.1x | 9.7x | 5.4x | 4.2x | 1.9x |
| Total assets | $332M | $258M | $160M | $58.8M | $92.2M |
| Total liabilities | $10.9M | $23.0M | $30.1M | $13.9M | $64.4M |
| Shareholders' equity | $321M | $235M | $130M | $44.8M | $27.8M |
| Net debt (β = net cash) | β | β | β | β | β |
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)
FY19
Return on capital β
Return on equity β
Return on assets β235.8%
FY20
Return on capital β
Return on equity β15.7%
Return on assets β14.2%
FY21
Return on capital β
Return on equity β18.4%
Return on assets β17.9%
FY22
Return on capital β
Return on equity β34.4%
Return on assets β32.4%
FY23
Return on capital β
Return on equity β64.4%
Return on assets β56.2%
FY24
Return on capital β
Return on equity β110.8%
Return on assets β88.5%
FY25
Return on capital β
Return on equity β290.8%
Return on assets β139.9%
Return on capital
Return on equity
Return on assets
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 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β |
| F-score | β / 3 | β / 6 | β / 6 | β / 6 | β / 6 | β / 6 | β / 6 |
| Accruals ratio | β66.1% | 3.0% | β3.8% | β7.9% | β8.1% | 0.2% | β79.3% |
| Altman Z'' | β49.73 | 57.99 | 33.59 | 10.33 | β1.85 | β26.03 | β22.12 |
All figures
Every number, year by year.
7 years of figures
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 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Research and development | $3.8M | $13.3M | $42.8M | $61.5M | $93.8M | $70.7M | $17.5M |
| Operating income | β$5.4M | β$20.0M | β$64.0M | β$104M | β$125M | β$101M | β$102M |
| Interest expense | $0.3M | $0.4M | $0.0M | β | β | β | β |
| Pretax income | β$5.2M | β$20.0M | β$55.0M | β$95.8M | β$117M | β$96.9M | β$106M |
| Income tax | β | β | β | β | β | β | $0.0M |
| Net income | β$5.2M | β$20.0M | β$54.9M | β$95.6M | β$118M | β$96.9M | β$106M |
| Diluted EPS | β$1.45 | β$1.67 | β$1.49 | β$2.53 | β$3.09 | β$25.19 | β$24.70 |
| Diluted shares | 0.00B | 0.01B | 0.04B | 0.04B | 0.04B | 0.00B | 0.00B |
| Cash flow | |||||||
| Cash from operations | β$3.7M | β$24.1M | β$43.1M | β$72.5M | β$101M | β$97.2M | β$45.7M |
| Capital expenditure | β | $2.3M | $1.6M | $1.1M | $0.3M | $0.0M | β |
| Free cash flow | β | β$26.4M | β$44.7M | β$73.6M | β$101M | β$97.2M | β |
| Depreciation and amortization | $0.0M | $0.0M | $0.5M | $0.8M | $1.0M | $1.0M | $1.0M |
| Stock-based compensation | $0.3M | $0.6M | $4.6M | $10.6M | $10.6M | $11.0M | $6.1M |
| Balance sheet | |||||||
| Cash and short-term investments | $2.1M | $185M | $254M | $200M | $147M | $51.3M | $88.3M |
| Current assets | $2.2M | $192M | $261M | $208M | $155M | $54.8M | $89.5M |
| Current liabilities | $1.3M | $4.4M | $9.3M | $21.4M | $28.8M | $13.1M | $47.5M |
| Property and equipment, net | β | $2.6M | $3.8M | $4.1M | $3.4M | $2.4M | $1.5M |
| Total assets | $2.2M | $280M | $332M | $258M | $160M | $58.8M | $92.2M |
| Total liabilities | $4.9M | $5.3M | $10.9M | $23.0M | $30.1M | $13.9M | $64.4M |
| Shareholders' equity | β$19.7M | $274M | $321M | $235M | $130M | $44.8M | $27.8M |
| Returns | |||||||
| Return on capital employed | β594.9% | β7.3% | β19.8% | β43.9% | β95.5% | β221.1% | β229.0% |
| Return on equity | β | β15.7% | β18.4% | β34.4% | β64.4% | β110.8% | β290.8% |
| Return on assets | β235.8% | β14.2% | β17.9% | β32.4% | β56.2% | β88.5% | β139.9% |
| Return on tangible equity | β | β7.3% | β17.1% | β40.7% | β90.4% | β216.2% | β380.0% |
| Growth | |||||||
| Share count change | β | 235.5% | 208.5% | 2.2% | 0.8% | β89.9% | 11.1% |
| Financial health | |||||||
| Interest coverage | β15.7x | β54.5x | β21,340.7x | β | β | β | β |
| Current ratio | 1.7x | 43.7x | 28.1x | 9.7x | 5.4x | 4.2x | 1.9x |
| Quick ratio | 1.7x | 43.7x | 28.1x | 9.7x | 5.4x | 4.2x | 1.9x |
| Quality scores | |||||||
| Altman Z'' | β49.7 | 58.0 | 33.6 | 10.3 | β1.9 | β26.0 | β22.1 |
| Accruals ratio | β66.1% | 3.0% | β3.8% | β7.9% | β8.1% | 0.2% | β79.3% |
Source: SEC EDGAR XBRL filings (CIK 0001620463). 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.