1.Sales and profit
See section β- Vera Therapeutics, Inc. lost $300M in fiscal 2025.
Vera Therapeutics, Inc.
VERA Nasdaq Pharmaceutical Preparations Financials FY2020βFY2025
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3-page PDF: the company, its results and charts with peers.
Last close Β· Oct 23, 2026
$27.99
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Hi! I read Vera Therapeutics, Inc.βs latest annual report (fiscal 2025). Here is what stands out:
1 strength 3 to watch
2.Cash and shareholders
See section β- Free cash flow was β$242M in fiscal 2025, β of revenue.
- Vera Therapeutics, Inc. returned $0.0M to shareholders in fiscal 2025. The diluted share count rose 16.1%.
- No open-market insider trades in the last 12 months.
3.Financial health
See section β- Vera Therapeutics, Inc. has $640M more cash than debt.
- Vera Therapeutics, Inc. passes 1 of 7 financial health tests (Piotroski F-score).
Vera Therapeutics, Inc. in 30 seconds
Good So-so Weak
Weak
Does it make a profit?
β$300M
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?
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.
$2.0B
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
β
On β$5.86 EPS (TTM)
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 Vera Therapeutics, Inc. did it, and the next one. Share prices often move a lot on those days.
Next results
November 5, 2026
Thursday Β· in 10 days
- Time
- After the market closes
- Covers
- Period ended Sep 30, 2026
- Expected EPS
- β$1.72
- Source
- Earnings calendar
| Date | Results for | Time | Source |
|---|---|---|---|
| Aug 10, 2026 | Q2 '26 | After the market closes | 8-K β |
| May 7, 2026 | Q1 '26 | Before the market opens | 8-K β |
| Feb 26, 2026 | Q4 '25 | Before the market opens | 8-K β |
| Nov 5, 2025 | Q3 '25 | Before the market opens | 8-K β |
| Aug 5, 2025 | Q2 '25 | Before the market opens | 8-K β |
| May 6, 2025 | Q1 '25 | Before the market opens | 8-K β |
| Feb 26, 2025 | Q4 '24 | Before the market opens | 8-K β |
| Oct 26, 2024 | Q3 '24 | Time not announced | 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
FY20
Revenue β
FY21
Revenue β
FY22
Revenue β
FY23
Revenue β
FY24
Revenue β
FY25
Revenue β
Margins, % of revenue
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· Vera Therapeutics, Inc. lost $300M 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
FY20
Net income β$53.4M
FY21
Net income β$32.6M
FY22
Net income β$89.1M
FY23
Net income β$96.0M
FY24
Net income β$152M
FY25
Net income β$300M
Net income
Q3 '23
Net income β$20.1M
Q4 '23
Net income β$25.7M
Q1 '24
Net income β$28.4M
Q2 '24
Net income β$33.7M
Q3 '24
Net income β$46.6M
Q4 '24
Net income β$43.4M
Q1 '25
Net income β$51.7M
Q2 '25
Net income β$76.5M
Q3 '25
Net income β$80.3M
Q4 '25
Net income β$91.1M
Q1 '26
Net income β$121M
Q2 '26
Net income β$109M
Diluted EPS
FY20
Diluted EPS β$166.93
FY21
Diluted EPS β$2.43
FY22
Diluted EPS β$3.35
FY23
Diluted EPS β$2.25
FY24
Diluted EPS β$2.75
FY25
Diluted EPS β$4.66
Diluted EPS
Q3 '23
Diluted EPS β$0.45
Q4 '23
Diluted EPS β$0.54
Q1 '24
Diluted EPS β$0.56
Q2 '24
Diluted EPS β$0.62
Q3 '24
Diluted EPS β$0.85
Q4 '24
Diluted EPS β$0.72
Q1 '25
Diluted EPS β$0.81
Q2 '25
Diluted EPS β$1.20
Q3 '25
Diluted EPS β$1.26
Q4 '25
Diluted EPS β$1.39
Q1 '26
Diluted EPS β$1.69
Q2 '26
Diluted EPS β$1.52
Cash and shareholders
How much cash comes in, and where does it go?
Cash flow
KIRA Β· Free cash flow was β$242M 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
FY20
Free cash flow β$34.9M
FY21
Free cash flow β$23.7M
FY22
Free cash flow β$67.7M
FY23
Free cash flow β$92.2M
FY24
Free cash flow β$136M
FY25
Free cash flow β$242M
Free cash flow
Q3 '23
Free cash flow β$23.0M
Q4 '23
Free cash flow β$25.2M
Q1 '24
Free cash flow β$33.8M
Q2 '24
Free cash flow β$24.9M
Q3 '24
Free cash flow β$37.1M
Q4 '24
Free cash flow β$39.8M
Q1 '25
Free cash flow β$54.6M
Q2 '25
Free cash flow β$55.0M
Q3 '25
Free cash flow β$62.0M
Q4 '25
Free cash flow β$70.1M
Q1 '26
Free cash flow β$107M
Q2 '26
Free cash flow β$100M
Cash from operations vs capital spending
FY20
Cash from operations β$34.8M
Capital spending $0.1M
FY21
Cash from operations β$23.7M
Capital spending $0.0M
FY22
Cash from operations β$67.6M
Capital spending $0.1M
FY23
Cash from operations β$92.2M
Capital spending $0.1M
FY24
Cash from operations β$135M
Capital spending $1.0M
FY25
Cash from operations β$241M
Capital spending $0.6M
Cash from operations
Capital spending
Cash from operations vs capital spending
Q3 '23
Cash from operations β$23.0M
Capital spending $0.0M
Q4 '23
Cash from operations β$25.1M
Capital spending $0.1M
Q1 '24
Cash from operations β$33.8M
Capital spending $0.0M
Q2 '24
Cash from operations β$24.8M
Capital spending $0.1M
Q3 '24
Cash from operations β$36.9M
Capital spending $0.2M
Q4 '24
Cash from operations β$39.2M
Capital spending $0.6M
Q1 '25
Cash from operations β$54.4M
Capital spending $0.2M
Q2 '25
Cash from operations β$54.8M
Capital spending $0.2M
Q3 '25
Cash from operations β$61.9M
Capital spending $0.1M
Q4 '25
Cash from operations β$70.0M
Capital spending $0.1M
Q1 '26
Cash from operations β$107M
Capital spending $0.0M
Q2 '26
Cash from operations β$100M
Capital spending $0.0M
Cash from operations
Capital spending
Dividends, buybacks and share count
KIRA Β· Vera Therapeutics, Inc. returned $0.0M to shareholders in fiscal 2025. The diluted share count rose 16.1%.
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
FY20
Dividends β
Buybacks β
FY21
Dividends β
Buybacks β
FY22
Dividends β
Buybacks β
FY23
Dividends β
Buybacks $0.0M
FY24
Dividends β
Buybacks $0.0M
FY25
Dividends β
Buybacks $0.0M
Dividends
Buybacks
Dividends and buybacks
Q3 '23
Dividends β
Buybacks β
Q4 '23
Dividends β
Buybacks $0.0M
Q1 '24
Dividends β
Buybacks β
Q2 '24
Dividends β
Buybacks β
Q3 '24
Dividends β
Buybacks β
Q4 '24
Dividends β
Buybacks $0.0M
Q1 '25
Dividends β
Buybacks β
Q2 '25
Dividends β
Buybacks β
Q3 '25
Dividends β
Buybacks β
Q4 '25
Dividends β
Buybacks $0.0M
Q1 '26
Dividends β
Buybacks β
Q2 '26
Dividends β
Buybacks β
Dividends
Buybacks
Diluted shares outstanding (annual)
FY20
Diluted shares 0.00B
FY21
Diluted shares 0.01B
FY22
Diluted shares 0.03B
FY23
Diluted shares 0.04B
FY24
Diluted shares 0.06B
FY25
Diluted shares 0.06B
Insider trades
KIRA Β· No open-market insider trades in the last 12 months.
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
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Financial health
Can it carry its debts, and how well does it use its money?
Balance sheet
KIRA Β· Vera Therapeutics, Inc. has $640M more cash than debt.
Cash, debt and the ratios that show how comfortably Vera Therapeutics, 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)
FY20
Cash $53.7M
Debt $0.0M
FY21
Cash $79.7M
Debt $4.9M
FY22
Cash $115M
Debt $24.8M
FY23
Cash $161M
Debt $49.9M
FY24
Cash $641M
Debt $50.7M
FY25
Cash $715M
Debt $74.8M
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $79.7M | $115M | $161M | $641M | $715M |
| Debt incl. finance leases | $4.9M | $24.8M | $49.9M | $50.7M | $74.8M |
| Debt / equity | 0.1x | 0.3x | 0.5x | 0.1x | 0.1x |
| Interest coverage | β1,720.1x | β91.6x | β26.9x | β21.9x | β41.9x |
| Current ratio | 10.7x | 4.9x | 7.7x | 25.7x | 13.6x |
| Quick ratio | 10.7x | 4.9x | 7.7x | 25.7x | 13.6x |
| Total assets | $83.7M | $131M | $176M | $656M | $735M |
| Total liabilities | $14.2M | $54.5M | $73.9M | $78.5M | $130M |
| Shareholders' equity | $69.6M | $76.9M | $102M | $577M | $605M |
| Net debt (β = net cash) | β$74.8M | β$89.8M | β$111M | β$590M | β$640M |
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)
FY20
Return on capital β
Return on equity β
Return on assets β97.9%
FY21
Return on capital β
Return on equity β
Return on assets β47.2%
FY22
Return on capital β
Return on equity β121.6%
Return on assets β82.8%
FY23
Return on capital β
Return on equity β107.5%
Return on assets β62.5%
FY24
Return on capital β
Return on equity β44.8%
Return on assets β36.6%
FY25
Return on capital β
Return on equity β50.7%
Return on assets β43.1%
Return on capital
Return on equity
Return on assets
Piotroski F-score
KIRA Β· Vera Therapeutics, 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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β |
| F-score | β / 3 | 2 / 7 | 1 / 7 | 3 / 7 | 4 / 7 | 1 / 7 |
| Accruals ratio | β34.1% | β12.9% | β19.9% | β2.5% | β4.2% | β8.4% |
| Altman Z'' | β27.35 | 3.44 | β3.46 | β2.60 | 9.97 | 4.64 |
All figures
Every number, year by year.
6 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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| Research and development | $45.2M | $22.5M | $69.0M | $78.2M | $126M | $215M |
| Operating income | β$52.2M | β$34.4M | β$90.9M | β$102M | β$167M | β$315M |
| Interest expense | $0.2M | $0.0M | $1.0M | $3.8M | $7.6M | $7.5M |
| Pretax income | β$53.4M | β$32.6M | β$89.1M | β$96.0M | β$152M | β$300M |
| Income tax | β$0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Net income | β$53.4M | β$32.6M | β$89.1M | β$96.0M | β$152M | β$300M |
| Diluted EPS | β$166.93 | β$2.43 | β$3.35 | β$2.25 | β$2.75 | β$4.66 |
| Diluted shares | 0.00B | 0.01B | 0.03B | 0.04B | 0.06B | 0.06B |
| Cash flow | ||||||
| Cash from operations | β$34.8M | β$23.7M | β$67.6M | β$92.2M | β$135M | β$241M |
| Capital expenditure | $0.1M | $0.0M | $0.1M | $0.1M | $1.0M | $0.6M |
| Free cash flow | β$34.9M | β$23.7M | β$67.7M | β$92.2M | β$136M | β$242M |
| Depreciation and amortization | $0.3M | $0.2M | β$0.8M | $0.0M | $0.1M | $0.5M |
| Stock-based compensation | $0.3M | $3.0M | $8.9M | $11.5M | $20.8M | $37.9M |
| Share buybacks | β | β | β | $0.0M | $0.0M | $0.0M |
| Dividends and buybacks | β | β | β | $0.0M | $0.0M | $0.0M |
| Balance sheet | ||||||
| Cash and short-term investments | $53.7M | $79.7M | $115M | $161M | $641M | $715M |
| Total debt | $0.0M | $4.9M | $24.8M | $49.9M | $50.7M | $74.8M |
| Current assets | $54.3M | $82.5M | $126M | $172M | $651M | $729M |
| Current liabilities | $2.4M | $7.7M | $25.6M | $22.3M | $25.4M | $53.5M |
| Property and equipment, net | β | $0.0M | $0.1M | $0.1M | $1.0M | $1.4M |
| Total assets | $54.6M | $83.7M | $131M | $176M | $656M | $735M |
| Total liabilities | $4.3M | $14.2M | $54.5M | $73.9M | $78.5M | $130M |
| Preferred stock | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | β |
| Shareholders' equity | β$89.3M | $69.6M | $76.9M | $102M | $577M | $605M |
| Returns | ||||||
| Return on capital employed | β100.2% | β45.2% | β85.9% | β66.6% | β26.5% | β46.3% |
| Return on equity | β | β | β121.6% | β107.5% | β44.8% | β50.7% |
| Return on assets | β97.9% | β47.2% | β82.8% | β62.5% | β36.6% | β43.1% |
| Return on tangible equity | β | β46.9% | β115.8% | β94.4% | β26.4% | β49.6% |
| Growth | ||||||
| Share count change | β | 4,098.7% | 97.8% | 60.7% | 29.5% | 16.1% |
| Financial health | ||||||
| Debt / equity | β | 0.1x | 0.3x | 0.5x | 0.1x | 0.1x |
| Interest coverage | β314.7x | β1,720.1x | β91.6x | β26.9x | β21.9x | β41.9x |
| Current ratio | 22.6x | 10.7x | 4.9x | 7.7x | 25.7x | 13.6x |
| Quick ratio | 22.6x | 10.7x | 4.9x | 7.7x | 25.7x | 13.6x |
| Quality scores | ||||||
| Piotroski F-score | β | 2.0 | 1.0 | 3.0 | 4.0 | 1.0 |
| Altman Z'' | β27.4 | 3.4 | β3.5 | β2.6 | 10.0 | 4.6 |
| Accruals ratio | β34.1% | β12.9% | β19.9% | β2.5% | β4.2% | β8.4% |
Source: SEC EDGAR XBRL filings (CIK 0001831828). 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.